Share Market Highlights- Nifty settles below 18100, Sensex downs 160 pts; Bank Nifty above 43300, Adani Ent, Ports fall

Share Market Highlights: Nifty settles below 18100, Sensex downs 160 pts; Bank Nifty above 43300, Adani Ent, Ports fall

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Wednesday’s session in the red territory. The NSE Nifty 50 fell 57.8 points or 0.32% to 18,089.85 and BSE Sensex plunged 161.41 points or 0.26% to  61,193.3. In sectoral indices, Bank Nifty dipped 39.4 points 0.09% to 43,312.7 and Nifty IT plunged 281.25 points or 1% to 27,743.75. The top gainers on Nifty 50 were Hindustan Unilever, Asian Paints, Tata Motors, UltraTech Cement and ITC while the top losers were Adani Enterprises, Adani Ports, ONGC, UPL and Bharti Airtel.Live Updates

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

15:40 (IST) 3 May 2023 Top gainers/losers

The top gainers on Nifty 50 were Hindustan Unilever, Asian Paints, Tata Motors, UltraTech Cement and ITC while the top losers were Adani Enterprises, Adani Ports, ONGC, UPL and Bharti Airtel.

15:39 (IST) 3 May 2023 Bank Nifty closes above 43300; IT tanks 1%

In sectoral indices, Bank Nifty dipped 39.4 points 0.09% to 43,312.7 and Nifty IT plunged 281.25 points or 1% to 27,743.75.

15:39 (IST) 3 May 2023 Nifty, Sensex end in red

The NSE Nifty 50 fell 57.8 points or 0.32% to 18,089.85 and BSE Sensex plunged 161.41 points or 0.26% to  61,193.3.

14:55 (IST) 3 May 2023 Rail Vikas Nigam share price jumps 73% in one month

Rail Vikas Nigam’s share price surged 73% over the past month as the freshly crowned ‘Navratna’ bags orders worth thousands of crores on the government’s infrastructure push for railways. From the closing price of Rs 75.2 per equity share on 3 April, the scrip touched an intraday high of Rs 130.1 on the NSE. 

Should Investors buy, hold or sell Rail Vikas Nigam?

14:18 (IST) 3 May 2023 Volume Gainers

Lakshmi Finance & Industrial Corporation, Bhansali Engineering Polymers, Astec LifeSciences, Engineers India, Kolte – Patil Developers, Gravita India, Electrotherm (India), Spandana Sphoorty Financial are among the volume gainers on the NSE index.

14:18 (IST) 3 May 2023 Stocks at 52 week lows

7 stocks including GlaxoSmithKline Pharmaceuticals, Rushil Decor Limited-RE, Cineline India, Virinchi, Osia Hyper Retail are at 52 week lows.

14:17 (IST) 3 May 2023 Stocks at 52 week highs

On the NSE Nifty, 67 stocks hit their 52 week highs including Indiamart Intermesh, Dr. Reddy’s Laboratories, Oracle Financial Services Software, Siemens, ABB India, GRP Limited, Polycab India, Dynamatic Technologies, Hindustan Aeronautics, Apar Industries, Akzo Nobel India, InterGlobe Aviation, Anupam Rasayan India, Carborundum Universal, Bharat Dynamics, H.G. Infra Engineering, Centum Electronics, Divgi Torqtransfer Systems, Syngene International, Spandana Sphoorty Financial, Mrs. Bectors Food Specialities, Gravita India, Action Construction Equipment, DLF, ITC, and Datamatics Global Services are among others. 

14:17 (IST) 3 May 2023 Price band hitters

On the NSE Nifty, 40 stocks hit their upper price band. Rail Vikas Nigam, Brightcom Group, Axiscades Technologies, PC Jeweller, Sanghi Industries, Radhika Jeweltech were among the scrips. 25 stocks hit their lower price band including Focus Lighting and Fixtures, Axita Cotton, Mirza International, Reliance Capital. 15 scrips hit both bands.

14:16 (IST) 3 May 2023 Top gainers/losers

On the NSE Nifty index, the top winners are Hindustan Unilever, Asian Paints, Coal India, ITC, Divi’s Lab, with HUL up 1.42%. The biggest laggards are ONGC, Hindalco, Axis Bank, L&T and Bajaj Finance, with ONGC down 1.61%.

14:16 (IST) 3 May 2023 Sectoral indices trade mostly in red

Most sectors were lower, with Nifty IT, Nifty PSU Bank, Bank Nifty falling up to 1.04%. However, Nifty Realty, Nifty Media and Nifty FMCG outperformed, rising up to 0.78%.

14:16 (IST) 3 May 2023 Broader indices trade mixed

The broader markets traded mixed as Nifty Midcap 100 and Nifty Smallcap 100 managed to extend their winning streak, while Nifty 200 and Nifty 500 tanked up to 0.4%.

13:44 (IST) 3 May 2023 Indian Oil Rs 1000-crore plan to make green Jet fuel

Indian Oil Corp is planning to build a 10 billion rupee ($122 million) sustainable aviation fuel plant as global supplies run significantly short of what’s needed by airlines to meet decarbonization goals. The facility will have the capacity to produce 88,000 tons of SAF a year and Indian Oil is seeking to partner with other oil companies on the project, said S.S.V. Ramakumar, director for research and development. Supply agreements with airlines are needed to push ahead with the investment, he added.

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13:00 (IST) 3 May 2023 Adani Wilmar share price falls 3% after net profit tanks 60%

Adani Wilmar share price fell 3.14% to Rs 402.4 after the company's fiscal net profit tumbled 60.1% to Rs 93.61 crore from Rs 234.29 crore in the same quarter last year. The FMCG company posted a revenue from operations of Rs 13,872.64 crore, down 7% from Rs 14,917.26 crore in Q4FY22. The company’s EBITDA stood at Rs 358.7 crore.

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12:30 (IST) 3 May 2023 Blackstone’s Nexus Select Trust REIT IPO: Price band set at Rs 95-100 per unit

Blackstone-backed Nexus Select Trust REIT has set the price band for its Rs 3,200-crore IPO at Rs 95-100 per unit. The public issue will open for subscription on 9 May; it comprises a fresh issue of units up to Rs 1,400 crore and an offer for sale (OFS) component with unitholders offloading units up to Rs 1,800 crore. The issue size was earlier proposed to be Rs 4,000 crore.

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12:24 (IST) 3 May 2023 ChatGPT sinks Ed-Tech stocks

ChatGPT has sent the share prices of online learning firms such as Chegg and Pearson sinking on fears that it will replace traditional education. The share price of US-based Chegg, an education tech company providing online homework help and textbooks, tanked 50% on Tuesday after the company reported a 7% on-year drop in sales and a 5% fall in subscribers. Earlier, the CEO of the company had admitted that the explosion of generative AI chatbots had hurt the company’s revenue. Chegg’s fall pushed the shares of UK-based Pearson, which is also in the business of education, down 15%.

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10:39 (IST) 3 May 2023 IndiGo shares surge after smaller rival Go First files for bankruptcy

Shares of India’s largest airline IndiGo surged over 8% on Wednesday as smaller rival Go First’s bankruptcy filing raised hopes of market share gains and improved yields. Cash-strapped airline Go First filed for bankruptcy on Tuesday, blaming “faulty” Pratt & Whitney engines for the grounding of about half its fleet and taking lenders by surprise.

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09:49 (IST) 3 May 2023 Bank Nifty may trade in range of 42800–43800

“Bank Nifty has also carried on with the momentum straight away from the 38600 zone to 43500 levels and would need to sustain above the crucial 43500 levels for another few sessions to establish some conviction and clarity. Some profit booking or consolidation can’t be ruled out after a strong rally. Bank Nifty would have a daily range of 42800–43800 levels,” said analysts at Prabhudas Lilladher.

09:47 (IST) 3 May 2023 Nifty support at 18050, resistance at 18250

“Nifty has continued with the ongoing upward thrust to almost reach the significant 18200 level, which would be a psychological landmark and can witness some resistance or consolidation phase. The support for the day is seen at 18050 levels while the resistance is seen at 18250 levels,” said analysts at Prabhudas Lilladher.

09:44 (IST) 3 May 2023 If Nifty holds 18094, expect upswings aiming 18200/230

“The Nifty’s inability to clear 18200 and the slow down in momentum signals caution, but they are not significant enough to force an outright turn in the trend. Look for slippage past 18094 for initial signs towards that end, but with 18000 and 17885 as firm supports, collapse is less likely. Alternatively, if 18094 holds, expect upswings aiming 18200/230, at which point, we will examine the strength of negative divergences that have emerged in a few oscillators,” said Anand James, Chief Market Strategist at Geojit Financial Services.

09:38 (IST) 3 May 2023 Ambuja Cements shares jump 1%

Ambuja Cements shares jumped 1.17% to Rs 399 after the Adani Group’s building materials arm, posted a 10.86% fall in consolidated net profit at Rs 763 crore for the quarter ended March, missing analysts’ estimates of it posting a net profit of Rs 799 crore.

09:38 (IST) 3 May 2023 Titan shares gain ahead of quarterly results announcement

Titan shares gained 0.26% to Rs 2668.2 ahead of the quarterly results announcement. Experts predict that the firm will see a sharp spike in net profit, aided by a healthy wedding season demand and healthy base from last year. 

09:36 (IST) 3 May 2023 Infosys shares tank 1%

Infosys shares tanked 1% to Rs 1265 today. Meanwhile, SolarWinds and Infosys announced a collaboration to advance the shift of SolarWinds solutions to a new SaaS model. 

09:35 (IST) 3 May 2023 Tata Steel shares fall half a percent

Tata Steel shares fell 0.54% to Rs 109.7 after the company posted a steep fall of 84% in its consolidated net profit at Rs 1,566.24 crore during the quarter ended March 2023, dragged by lower income. 

09:31 (IST) 3 May 2023 Bank Nifty undertone remains bullish as long as it holds 43300

“Bank Nifty is seen to be trading in a higher high higher low formation as bulls swiftly take it close to 43400. The undertone remains bullish as long as the index holds the levels of 43300 as put writers are fiercely active on 43300, 43200 and 43000 and call writers are active on 43400 and 43500. Support seen at 43300, 43200 and 43000 and resistance placed at 43400, 43500 and 44000,” said  Mitesh Karwa, Research Analyst at Bonanza Portfolio Ltd.

Share Market Outlook Today

09:31 (IST) 3 May 2023 Bank Nifty downside support visible at 43000-42800

“Bank Nifty needs to surpass the 43500 level on a closing basis to continue the momentum to a time-high level. The downside support is visible at the 43,000-42,800 zone and any dip towards this support zone will be an ideal opportunity to create fresh long positions,” said Kunal Shah, Senior Technical & Derivatives Analyst at LKP Securities.

Share Market Outlook Today

09:30 (IST) 3 May 2023 Bank Nifty resistance at 43525-43610

“If Bank Nifty opens flat, yesterday’s low will act as a support area and if it’s breaking yesterday’s low, 43190 is the very first support and if this level breaches next support is 43040. Bank Nifty will have major support at the 43040-43000 range. The major resistance is 43525  and if this level Breaks out and sustains above this, we can see the next important resistance at 43610 and 43740,” said V.L.A. Ambala (SEBI Registered Research Analyst), Stock Market Today (SMT).

Share Market Outlook Today

09:30 (IST) 3 May 2023 Bank Nifty first support at 43242 and then 42147

Bank Nifty first support at 43242 and then 42147 while resistance at 43466 and 43584, according to Rahul Sharma, JM Financial.

Share Market Outlook Today

09:30 (IST) 3 May 2023 Nifty 18200-18250 range will be major hurdle for buyers

“Nifty’s immediate support range is 18100. If this breaks down and sustains below this level, the next important support level is 18040. Nifty has major support at 17980. The nifty 18200-18250 range will be a major hurdle for buyers and if this level breaks out and the price sustains above this level, our next resistances will be at 18260/18320/18415,” said Ashish N. Ambala (Sr. Technical Analyst), Stock Market Today (SMT).

Share Market Outlook Today

09:30 (IST) 3 May 2023 Nifty uptrend would be vulnerable below 18000

“Nifty has formed a small candle while on intraday charts it is still holding higher bottom a formation which is broadly positive. In the near future, 18050-18000 would be the key support zone while 18200-18250 would act as an immediate hurdle for the bulls. However, below 18000, the uptrend would be vulnerable,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.

Share Market Outlook Today

09:29 (IST) 3 May 2023 Traders can look for long opportunities only above 17210

“The major resistance for Nifty is at the 18,200 level. Intraday traders can look for long opportunities only above 17,210 if the closing comes above 17,210 in 15 min chart. Traders can look for fresh shorts only if nifty breaks the 18,000 level & remains below for 15 min to ensure short,” said analysts at Stoxbox.

Share Market Outlook Today

09:29 (IST) 3 May 2023 Nifty undertone remains bullish

“Nifty is trading near a crucial resistance of 18,200 and once surpassed will witness further short covering towards the 18,400 level. The downside support is at 18,000 where aggressive put writing is visible. The undertone remains bullish and one should keep a buy-on-dip approach,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.

Share Market Outlook Today

09:29 (IST) 3 May 2023 Nifty immediate base shifts higher towards 18000–17900

“Some profit booking or a time consolidation cannot be ruled out before unfolding the next leg of the rally. Overall, Nifty’s undertone remains bullish, and the immediate base now shifts higher towards 18000 – 17900,” said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One Ltd.

Share Market Outlook Today

09:29 (IST) 3 May 2023 Nifty may consolidate ahead of the outcome of US Fed meet

“We may see some consolidation citing caution ahead of the outcome of the US Fed meet however the tone is likely to remain positive so maintain the “buy on dips” approach,” said Ajit Mishra, VP-Technical Research, Religare Broking Ltd.

Share Market Outlook Today

09:28 (IST) 3 May 2023 Nifty immediate hurdle seen at 18180–18200

“The hourly momentum indicator has triggered a bearish crossover which indicates that there can be consolidation after a sharp runup. Overall, the positive outlook remains intact. In terms of levels, 18050–18000 shall act as a crucial support zone while 18180 – 18200 shall act as an immediate hurdle zone for the Nifty,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.

Share Market Outlook Today

09:28 (IST) 3 May 2023 Nifty first support at 18173 and then 18143

Nifty first support at 18173 and then 18143 while resistance seen at 18239 and 18277, according to Rahul Sharma, JM Financial.

Share Market Outlook Today

09:27 (IST) 3 May 2023 Top gainers/losers

The top gainers on Nifty 50 were NTPC, BPCL, Adani Enterprises, Asian Paints and Hindustan Unilever while the losers were Hindalco, Britannia, JSW Steel, Infosys and Axis bank.

09:27 (IST) 3 May 2023 Bank Nifty falls below 43200; PSU Bank tanks 1%

In sectoral indices, Bank Nifty plunged 189.1 points or 0.44% to 43,163 and Nifty PSU Bank tumbled 45.9 points or 1.1% to 4,138.20.

09:26 (IST) 3 May 2023 Nifty, Sensex open in red

The NSE Nifty 50 fell 65.6 points or 0.36% to 18,082.05 and BSE Sensex tanked 276.98 points or 0.45% to 61,077.73.

09:21 (IST) 3 May 2023 Nifty likely to find support around 17850

Nifty is likely to find support at around 17850. 18350 is likely to act as resistance. Bank Nifty is likely to find support at around 43000. 43900 is likely to act as resistance on the upside. – IIFL Securities.

08:18 (IST) 3 May 2023 US indices tank over 1%

The US market ended the overnight session in red– Dow Jones Industrial Average (DJIA) tanked 1.08%, S&P 500 plunged 1.16% and the tech-heavy Nasdaq tumbled 1.08%.

08:17 (IST) 3 May 2023 Asian markets trade lower

Asian markets were trading in red, with South Korea’s KOSPI falling 0.86% and Hong Kong’s Hang Seng tanking 1.65%. China’s Shanghai Composite Index and Japan’s Nikkei 225 remained closed on Wednesday.

08:17 (IST) 3 May 2023 SGX Nifty trades in red

The Nifty futures on the Singapore Exchange (SGX) were trading 81 points or 0.44% lower at 18,139.5 in today’s early morning trade.