Share Market Highlights- Nifty closes above 17750, Sensex surges 120 pts; Bank Nifty ends above 41570, Adani stocks gain

Share Market Highlights: Nifty closes above 17750, Sensex surges 120 pts; Bank Nifty ends above 41570, Adani stocks gain

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices concluded Wednesday’s volatile session in the green territory. The NSE Nifty 50 rose 42.95 pts or 0.24% to 17,754.40 and BSE Sensex climbed 123.63 pts or 0.21% to 60,348.09. Bank Nifty rose 226.70 pts or 0.55 to 41,577.10. The top gainers on Nifty 50 were IndusInd Bank, Adani Ports, Adani Enterprises, Bajaj Auto and Larsen & Toubro while the top losers were Bajaj Finance, Hindalco, Tech Mahindra, Infosys and Apollo Hospital.   Live Updates

Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights

15:41 (IST) 8 Mar 2023 Top gainers/losers

The top gainers on Nifty 50 were IndusInd Bank, Adani Ports, Adani Enterprises, Bajaj Auto and Larsen & Toubro while the top losers were Bajaj Finance, Hindalco, Tech Mahindra, Infosys and Apollo Hospital.   

15:41 (IST) 8 Mar 2023 Nifty, Sensex, Bank Nifty end in green

The NSE Nifty 50 rose 42.95 pts or 0.24% to 17,754.40 and BSE Sensex climbed 123.63 pts or 0.21% to 60,348.09. Bank Nifty rose 226.70 pts or 0.55 to 41,577.10.

10:27 (IST) 8 Mar 2023 Adani stocks gain after prepayment of Rs 7,374 crore

All Adani Group stocks were trading in the green territory on Wednesday after the Gautam Adani-led group informed that it has prepaid share-backed financing of Rs 7,374 crore ahead of maturity in April 2025. The Gautam Adani-led group has now prepaid over $2 billion of share-backed financing, including the repayments done in February.  Now the shares of Adani Ports & Special Economic Zone, Adani Enterprises, Adani Transmission and Adani Green Energy will be released as follows:

Adani Ports & Special Economic Zone Ltd – 155 million shares, representing 11.8% of the promoters’ holding

Adani Enterprises Ltd – 31 million shares, representing 4.0% of promoters’ holding

Adani Transmission Ltd – 36 million shares, representing 4.5% of promoters’ holding 

Adani Green Energy Ltd – 11 million shares, representing 1.2% of promoters’ holding

09:39 (IST) 8 Mar 2023 Markets pricing in 50 bps rate hike in next Fed meeting

“The dominant trigger pushing the global equity markets up or down this year has been the economic data from the mother market US. This data has not been consistent and, therefore, the markets have been volatile responding to alternate bouts of positive and negative news. The disinflation trend pushed the markets up while data indicating a strong economy and tight labour market pulled the markets down. This see-saw movement appears likely to persist for some more time. The latest negative factor, from the market perspective, is the Fed chief Powell’s comment that “the ultimate level of interest rate is likely to be higher than previously anticipated”. So, markets are pricing in a 50bp rate hike in the next Fed meeting on March 21-22. In the near-term investors may adopt a twin strategy of opting for attractive fixed income returns with incremental investable funds while continuing to buy high quality stocks on market weakness.”- V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

09:22 (IST) 8 Mar 2023 Top gainers/losers

The top gainers on Nifty 50 were Adani Enterprises, UltraTech Cement, BPCL, SBI Life and Bajaj Auto while the losers were Hindalco, Tech Mahindra, Infosys, HCL Tech and JSW Steel.

09:21 (IST) 8 Mar 2023 Nifty, Sensex open in red

The NSE Nifty 50 fell 92.45 pts or 0.52% to 17,619.00 and BSE Sensex tanked 329.33 pts or 0.55% to 59,895.13.

09:15 (IST) 8 Mar 2023 Bank Nifty upside resistance at 42000

“Bank Nifty index witnessed some selling pressure from higher levels but the broader trend remains bullish and one should keep a buy-on-dip approach. The index lower-end support stands at 41000 where the highest open interest is built up on the put side and the upside resistance is at 42000. The index is likely to trade in this range for the next couple of trading sessions,” said Kunal Shah, Senior Technical Analyst at LKP Securities.

09:14 (IST) 8 Mar 2023 Bank Nifty support at 40900-41100

“Bank nifty has support at 40900-41100 while resistance is placed at 41700-41900 range,” said Devan Mehata, Equity Research Analyst at Choice Broking.

09:14 (IST) 8 Mar 2023 Nifty now must surpass 17815 to advance closer to 18000 level

“The benchmark Nifty has maintained its 200 Day EMA of 17,583, forming a respectable bullish candlestick pattern on the daily charts. In order to advance closer to the 18000 level, the index must now surpass the 50-day EMA, which is close to 17815 levels. The volume profile indicates Index has strong support around the 17450-17550 zone.  Coming to the OI Data, on the call side, the highest OI was observed at 17800 followed by 18000 strike prices while on the put side, the highest OI is at 17500 strike price,” said Devan Mehata, Equity Research Analyst at Choice Broking.

09:14 (IST) 8 Mar 2023 Nifty fall below 17650 may trigger steep correction

“On the daily chart, a shooting star kind of candlestick pattern has formed, suggesting a bearish reversal. A fall below 17650 may trigger a steep correction in the market. While a sustained trade above 17750 may induce buying in the market,” said Rupak De, Senior Technical Analyst at LKP Securities.

09:14 (IST) 8 Mar 2023 Nifty support near 17650-17600 levels

“For Nifty, 17800-17900 could be the immediate profit booking zone for the bulls while 17650-17600 would be the sacrosanct support zone for the traders. However, below 17600 uptrends would be vulnerable,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.

09:13 (IST) 8 Mar 2023 Nifty, Sensex end pre-open in red

Domestic indices ended the pre-opening session in the red territory. NSE Nifty 50 fell 45.70 pts or 0.26% to 17,665.75 and BSE Sensex tanked 308.36 pts or 0.51% to 59,916.10.

09:03 (IST) 8 Mar 2023 Nifty, Sensex may fall after US Fed’s hawkish statement

“Markets could retreat sharply in early trades Wednesday on the back of weak global cues after US Federal Reserve Chairman Jerome Powell made a hawkish statement and indicated that interest rates are likely to be higher than previously estimated in view of higher inflation. The two big catalysts for the markets are IIP data and the US jobs report to be released on March 10, which would provide some near-to-medium term direction to the investors. Technically, Nifty’s immediate make-or-break support is seen at the 200-DMA at 17414 mark.” – Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

08:28 (IST) 8 Mar 2023 SGX Nifty in red

The Nifty futures on the Singapore Exchange were trading 137.50 pts or 0.77% lower at 17,715.50 in the early morning trade.

08:28 (IST) 8 Mar 2023 US markets end in red

The US market ended the overnight session in the red territory falling over one and a half percent. The Dow Jones Industrial Average fell 1.72%, S&P 500 dropped 1.53% and the tech-heavy Nasdaq dipped 1.25%.

08:27 (IST) 8 Mar 2023 Asian markets trade in red

Asian markets were trading mostly lower with China’s Shanghai Composite index falling 0.17%, Hong Kong’s Hang Seng dropping 2.01% and South Korea’s KOSPI dipping 1.31% while Japan’s Nikkei 225 rose 0.18%.