Share Market Highlights- Nifty settles below 18550, Sensex tanks 350 pts; Bank Nifty below 44150, ONGC, NTPC fall

Share Market Highlights: Nifty settles below 18550, Sensex tanks 350 pts; Bank Nifty below 44150, ONGC, NTPC fall

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Wednesday’s session in the red. The NSE Nifty 50 fell 99.45 points or 0.53% to 18,534.40 and BSE Sensex plunged 346.89 points or 0.55% to 62,622.24. In sectoral indices, Bank Nifty tanked 308.20 points or 0.69% to 44,128.15, Nifty Metal plunged 46.50 points or 0.78% to 5,890.05 and Nifty Oil & Gas tumbled 94.75 points or 1.26% to 7,432.15 while Nifty Pharma rose 73.70 points or 0.58% to 12,678.40 and Nifty Realty jumped 3.60 points or 0.76% to 478.80. The top gainers on Nifty 50 were Tech Mahindra, Bharti Airtel, Kotak Bank, SBI Life and Sun Pharma while the losers were ONGC, NTPC, Axis Bank, Reliance Industries Ltd (RIL) and HDFC.Live Updates

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

16:14 (IST) 31 May 2023 Where is share market headed after Nifty closes below 18540, Bank Nifty below 44130

Benchmark indices NSE Nifty 50 and BSE Sensex ended Wednesday’s session in the red. “As indicated by multiple economic data points, the Indian economy is presently experiencing a robust recovery, leading to an upward trend in domestic equity markets. However, the rally is being hindered at times due to negative signals from global peers, as observed today. Concerns about a recession and potential interest rate hikes in Western markets are impacting the domestic market but it is nevertheless maintaining the outperformance,” said Vinod Nair, Head of Research at Geojit Financial Services.

Check support, resistance

15:36 (IST) 31 May 2023 Nifty, Sensex end in red

NSE Nifty 50 tumbled 99.45 points or 0.53% to 18,534.40 and BSE Sensex sank 346.89 points or 0.55% to 62,622.24.

15:12 (IST) 31 May 2023 Bank Nifty holds above 44000; check top losers/gainers

Bank Nifty tanks 396.15 points or 0.89% to 44,040.20. The top losers were Axis Bank, HDFC Bank, IndusInd Bank, ICICI Bank and IDFC First Bank while the gainers were Kotak Bank, PNB, Bank of Baroda, AU Bank and Bandhan Bank.

13:04 (IST) 31 May 2023 Stocks at 52-Week Lows

Akash Infra-Projects, Art Nirman, BEML Land Assets, Digjam, Fiberweb (India), GRM Overseas and Sheetal Cool Products were among the 12 stocks that hit 52-week lows.

13:03 (IST) 31 May 2023 Stocks at 52-Week Highs

Action Construction Equipment, Andhra Cements, AIA Engineering, Anant Raj, The Anup Engineering, Arman Financial Services, Arrow Greentech, Aurobindo Pharma, Bhansali Engineering Polymers, Bharat Wire Ropes, Choice International, Coforge, CRISIL, Dreamfolks Services, Dynamic Cables, eMudhra, Equitas Small Finance Bank, Expleo Solutions, Force Motors, Geekay Wires, Gravita India, Heritage Foods, Hilton Metal Forging, Indo Count Industries, IDFC, The Indian Hotels Company, IndusInd Bank, Indian Oil Corporation, ITC, ITD Cementation India, Inox Wind Energy, IZMO, Jindal Saw, JITF Infralogistics, Kamat Hotels, Kaynes Technology India, KPIT Technologies, Magnum Ventures, Manorama Industries, Marksans Pharma, Marshall Machines, Medico Remedies, Menon Bearings, Mold-Tek Technologies, Muthoot Capital Services, Newgen Software Technologies, Narayana Hrudayalaya, NMDC Steel, Onward Technologies, Power Finance Corporation, PG Electroplast, Pondy Oxides & Chemicals, Polycab India, Pressman Advertising, The Ramco Cements, REC, Revathi Equipment, Ramkrishna Forgings, Safari Industries (India), Sandhar Technologies, Sanghvi Movers, Schneider Electric Infrastructure, Som Distilleries & Breweries, Servotech Power Systems, Shanthi Gears, Spandana Sphoorty Financial, Sundram Fasteners, Tega Industries, Thangamayil Jewellery, Torrent Pharmaceuticals, Trent, Transformers And Rectifiers, Ujjivan Financial Services, Ujjivan Small Finance Bank, Venus Pipes & Tubes and Zen Technologies were among 80 stocks that hit 52-week highs.

13:03 (IST) 31 May 2023 Volume Gainers

Arman Financial Services, Kaushalya Infrastructure Development Corporation, Magnum Ventures, Sree Rayalaseema Hi-Strength Hypo, Ahlada Engineers, Indo Count Industries, Dilip Buildcon, AstraZeneca Pharma India, Venus Remedies, Signet Industries, Onelife Capital Advisors, Sona BLW Precision Forgings, Force Motors, Arrow Greentech, Talbros Automotive Components, Rajdarshan Industries, Central Depository Services (India), Balaji Telefilms, Emmbi Industries, Inspirisys Solutions, Aro Granite Industries, Archies and Fairchem Organics were among the volume gainers on NSE.

13:03 (IST) 31 May 2023 Price Band Hitters

Bohra Industries, Khandwala Securities, Raj Rayon Industries, SEL Manufacturing Company, Magnum Ventures, Poddar Housing and Development, Inspirisys Solutions, Thomas Scott and Khaitan were among 57 stocks that hit the upper price band. NDTV, Kellton Tech Solutions, Trejhara Solutions, W S Industries, Latteys Industries, ABM International, Shah Alloys and Kapston Services were among 39 stocks that hit the lower price band. 

13:02 (IST) 31 May 2023 Top gainers/losers

Adani Enterprises, SBI Life, Asian Paints, HDFC Life, Tech Mahindra, Apollo Hospital, BPCL and Tata Motors were the gainers while the losers were NTPC, Axis Bank, ONGC, HDFC, JSW Steel, Mahindra & Mahindra and ITC were the losers.

13:02 (IST) 31 May 2023 HDFC, Adani Enterprises, RIL among most active stocks

The most active stocks on the NSE were Sona BLW Precision Forgings, HDFC Bank, Kotak Bank, HDFC, Reliance Industries (RIL), ICICI Bank and Adani Enterprises.

13:02 (IST) 31 May 2023 Bank Nifty, Fin Nifty, PSU, Private Bank fall; Pharma gains

In sectoral indices, Bank Nifty tanked 478.25 points or 1.08% to 43,958.10, Nifty Financial Services sank 1.13%, Nifty Metal was down 0.61%, Nifty PSU Bank tumbled 0.75% and Nifty Private Bank plunged 0.91% while Nifty Pharma rose 0.45%.

13:01 (IST) 31 May 2023 India VIX up 2%

The volatility index, India VIX rose 2% to 12.30.

13:01 (IST) 31 May 2023 Broader indices trade mostly in red

The broader market indices traded mostly in red – Nifty 100 fell 0.65%, Nifty 500 was down 0.52% and Nifty Total Market tumbled 0.49%.

12:00 (IST) 31 May 2023 Fin Nifty falls 1%; check top losers/gainers

Nifty Financial Services (FinNifty) tanked 221 points or 1.13% to 19,384.40. The top losers were Axis Bank, HDFC, Shri Ram Finance, SBI Card and HDFC Bank while the gainers were SBI Life, HDFC Life, Indian Energy Exchange, SBIN and REC.

11:49 (IST) 31 May 2023 SBI shares falls 2%; scrip trading ex-dividend today

India’s largest bank SBI’s share price fell 2.3% to Rs 579 after the shares turned ex-dividend on Wednesday. The bank announced a dividend payout of Rs 11.3 per share for the fiscal year ended March 2023, which will be disbursed on 14 June. Today is also the record day to determine the shareholders that are eligible for receiving the dividend.

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11:48 (IST) 31 May 2023 Bank Nifty tanks 450 pts, slips below 44000

Bank Nifty tanked 450 points or 1% to 43,988.30. The top losers were HDFC Bank, IDFC First Bank, Axis Bank, AU Bank and ICICI Bank.

11:46 (IST) 31 May 2023 Nifty slip below 18530, Sensex tanks 450 pts

Benchmark indices slipped below the crucial levels in the intraday trade. The NSE Nifty 50 tumbled 112.70 points or 0.60% to 18,521.15 and BSE Sensex tanked 450.66 points or 0.72% to 62,518.47.

11:35 (IST) 31 May 2023 Copper bulls are back

Copper, a highly volatile and liquid metal, looks appealing to traders after undergoing a sustained fall over the last month. Copper has stayed sideways to negative over the last month, with 790-810 critical levels. Prices retreated significantly from these higher levels, reaching a low of 692.95 in the June contract. Looking at the technical forecast in the short term, prices are anticipated to rise as the metal is indicating bullish signals.

MCX Copper: Buy at Rs 705-700 | SL: Rs 688 | Target: Rs 728 -745.

– Tejas Anil Shigrekar, Commodities and Currencies Senior Technical Analyst, Angel One

10:05 (IST) 31 May 2023 Adani Transmission, Adani Total Gas shares tank up to 3% as scrips exit MSCI Global Standard Index today

Adani Transmission share price sank 3% to Rs 776 while Adani Total Gas stock price tanked 3.4% to Rs 671.3 as MSCI excluded the embattled Adani group scrips from MSCI Global Standard Index in its latest rejig exercise, effective today. Indus Towers will also exit the index; while Max Healthcare Institute, Hindustan Aeronautics (HAL) and Sona BLW Precision Forgings have been included.

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10:03 (IST) 31 May 2023 Adani Ports share price tanks over 1% despite 5% jump in Q4 net profit

Adani Ports and Special Economic Zone share price tanked 1.23% to Rs 725 today despite the company’s net profit rising 5.1% to Rs 1,158.88 crore from Rs 1,102.61 crore in the same period last year. Revenue from operations jumped 40% to Rs 5796.85 crore from Rs 4,140.76 crore in Q4FY22. The board declared a dividend of Rs 5 (250%) per equity share of Rs 2 each fully paid up for the fiscal 2023. Adani Ports shares have jumped 6.6% in the past one month and have fallen nearly 18% in the last 6 months.

Should you buy, sell, hold Adani Ports?

09:29 (IST) 31 May 2023 Bank Nifty tanks 300 pts; check top losers

Bank Nifty tanked 300 pts or 0.67% to 44,137.50. All the constituents were trading in red with Bandhan Bank, PNB, Bank of Baroda, HDFC Bank and Axis Bank leading losses.

09:20 (IST) 31 May 2023 Nifty, Sensex open in red

The NSE Nifty 50 tumbled 49.25 points or 0.26% to 18,584.60 and BSE Sensex plunged 180.65 points or 0.29% to 62,788.48.

09:12 (IST) 31 May 2023 Nifty, Sensex end pre-open in red

Benchmark indices ended the pre-opening session in the red. The NSE Nifty 50 fell 39.65 points or 0.21% to 18,594.20 and BSE Sensex plunged 129.16 points or 0.21% to 62,839.97.

09:06 (IST) 31 May 2023 Nifty charts showing indecisiveness between bulls, bears; REC, Ultratech Cement, Mphasis among stocks to buy

On Tuesday, the benchmark indices witnessed narrow range activity. Nifty ended 35 points higher while the Sensex was up by 123 points. Among sectors, buying was seen in media and selective private banks stocks, whereas metal stocks witnessed intraday profit booking at higher levels.  Technically, on the daily chart, the index has formed a small body candle which clearly suggests indecisiveness between bulls and bears. The intraday formation also suggests continuation of range bound activity in the near future.  For the bulls now, 18,665 would be the immediate breakout level, above which the market could rally till 18,725-18,750. On the flip side, below 18,550, the selling pressure is likely to accelerate. Below which, the index could slip till 18,500-18,475.

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09:05 (IST) 31 May 2023 Bank Nifty resistance projected at 44750-44800

“Bank Nifty closed above the 44400 mark, achieving consecutive all-time highs over the past two days. Bank Nifty support is situated at 44100, whereas resistance levels are projected at 44750-44800,” said Ameya Ranadive, Equity Research Analyst at Choice Broking.

Share Market Outlook Today

09:04 (IST) 31 May 2023 Bank Nifty resistance at 44500, 44700, 45000

“Bank Nifty has achieved a new all-time high, with 44500 acting as an immediate resistance level. If Bank Nifty manages to surpass this hurdle, the next resistance levels to watch out for are 44700 and 45000. On the downside, there is an immediate support zone between 44150 and 44000. A breach below this zone may result in profit booking towards the 43700/43400 levels,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.

Share Market Outlook Today

09:04 (IST) 31 May 2023 Bank Nifty support at 44000

“Bank Nifty has support at 44000, which coincides with the highest open interest being built up on the put side. This suggests that market participants have shown significant interest in put options at this level, potentially acting as a support zone for the index,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.

Share Market Outlook Today

09:03 (IST) 31 May 2023 Bank Nifty first support at 44352 and then 44208

Bank Nifty first support at 44352 and then 44208 while resistance at 44569 and then 44641, according to Rahul Sharma, JM Financial.

Share Market Outlook Today

09:03 (IST) 31 May 2023 Buy on dips as long as Nifty remains above 18500

“The Relative Strength Index (RSI) shows a bullish crossover, indicating a favourable market sentiment. Traders and investors are advised to consider buying on dips as long as the index remains above the 18500 level. However, resistance is seen at the 18800 mark, which could potentially limit further upside,” said Rupak De, Senior Technical at LKP Securities.

Share Market Outlook Today

09:02 (IST) 31 May 2023 Nifty expected to undergo slight consolidation phase

“Nifty is expected to undergo a slight consolidation phase or witness some profit booking. The index’s crucial support levels are at 18500-18450, while potential resistance can be anticipated at 18700-18750 levels,” said Ameya Ranadive, Equity Research Analyst at Choice Broking.

Share Market Outlook Today

09:02 (IST) 31 May 2023 Rangebound price action over next few trading sessions expected

“The hourly momentum indicator still has a negative crossover which points out that the consolidation is still not over, and it could lead to a rangebound price action over the next few trading sessions. Overall, the uptrend is intact, and this consolidation shall provide an opportunity for initiating fresh long positions. In terms of levels, 18705–18735 shall act as the immediate hurdle zone while 18570–18500 is the crucial support zone from a short-term perspective,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.

Share Market Outlook Today

09:01 (IST) 31 May 2023 Nifty could rally till 18725-18750 if it breaks above 18665

“The intraday formation is suggesting the continuation of a range-bound activity in the near future. For bulls, 18665 would be the immediate breakout level, above which the market could rally till 18725-18750. On the flip side, below 18550, selling pressure is likely to accelerate till 18500-18475,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.

Share Market Outlook Today

09:01 (IST) 31 May 2023 Nifty to aim towards its all-time-high at 18888

“Bulls continue to cheer the US debt agreement to raise the $31.4 trillion debt ceiling for which the vote on the deal is likely on Wednesday. If yesterday’s bullish action is any indication, then expect Nifty to aim towards its major hurdles at its all-time-high at 18888, while the support to watch is at the 18283 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Share Market Outlook Today

08:53 (IST) 31 May 2023 Nifty resistance at 18780–18900

“The bullish gap formed around 18550–18500 is expected to provide immediate support, while the previous resistance at 18400 is now anticipated to act as a strong support level. On the flip side, the range of 18780–18900 is considered an immediate resistance zone,” said Rajesh Bhosale, Technical Analyst at Angel One Ltd.

Share Market Outlook Today

08:53 (IST) 31 May 2023 Nifty may jump to all-time high if it breaks above 18633–18696

“In the range of 18633–18696 exists an immediate supply zone where we may witness some consolidation or profit booking. If Nifty manages to break above this range, it is likely to move towards its all-time high. On the downside, there is a support zone between 18450 and 18400, which could act as a cushion in case of any downward movement. Additionally, the 20-day moving average (20-DMA) at 18300 holds significant importance as a key support level,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.

Share Market Outlook Today

08:53 (IST) 31 May 2023 Nifty first support at 18669 and then 18617

Nifty first support at 18669 and then 18617 while resistance at 18757 and then 18794, according to Rahul Sharm, JM Financial.

Share Market Outlook Today

08:03 (IST) 31 May 2023 Nifty to gain for 5th session or fall below 18600? Check US stocks, Asia shares, FII activity, SGX Nifty, more

Benchmark indices NSE Nifty 50 and BSE Sensex ended Tuesday’s session in the green as Bank Nifty hit a new all-time high of 44,498.60. The Nifty 50 rose 0.19% to 18,634 and BSE Sensex advanced 123 points to 62,969. “The domestic market continued its rally as recent Q4 results indicated improvement in demand. Further, expectations of a normal monsoon and a drop in international commodity prices support a rise in the margin profile. The underlying trend is strong, supported by strong liquidity, the negative slope of the interest yield, and the forecast of strong QoQ growth in Q4 FY23 GDP vs. 4.4% in Q3,” said Vinod Nair, Head of Research, Geojit Financial Services.

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08:02 (IST) 31 May 2023 Stocks To Watch: M&M, Adani Ports, Sun Pharma, Vedanta, Coal India, Torrent Pharma, Suzlon Energy

The SGX Nifty gained 0.23% in trade on Wednesday morning, signaling that domestic indices NSE Nifty 50 and BSE Sensex would open on a negative basis, snapping a four-day winning streak. Nifty futures were 42 points lower on the Singaporean exchange at 18,687.5.

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08:00 (IST) 31 May 2023 US indices end mixed

The US market ended the overnight session mostly flat – Dow Jones Industrial Average (DJIA) fell 0.15%, S&P 500 closed flat and the tech-heavy Nasdaq rose 0.32%.

07:59 (IST) 31 May 2023 Asian markets fall

Asian markets were trading red – Hong Kong’s Hang Seng tanked 1.66%, China’s Shanghai Composite index plunged 0.61%, Asia Dow tumbled 1.25% and Japan’s Nikkei 225 sank 0.78%.

07:59 (IST) 31 May 2023 SGX Nifty trades in red

The Nifty futures on the Singapore Exchange (SGX) were trading 48 points or 0.26% lower at 18,682 in today’s early morning trade.