Share Market Highlights- Nifty 50 settles shy of 18400, Sensex jumps 300 pts; Bank Nifty above 44000, up 275 pts

Share Market Highlights: Nifty 50 settles shy of 18400, Sensex jumps 300 pts; Bank Nifty above 44000, up 275 pts

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian equities BSE Sensex and NSE Nifty 50 ended the session with gains of 0.5% each. Nifty 50 closed at 18,398.85, just shy of the 18,400 level and 60 points down from its intraday high. Sensex closed 317 points higher at 62,346. The broader markets settled largely in the green, as Nifty Smallcap 50 added 0.9% while Nifty Midcap 50 gained 1%. Nifty 100, Nifty 200 and Nifty 500 advanced between 0.42-0.47%. Sectorally, all indices closed in the green. Nifty Realty clocked gains of 4.32% while Nifty FMCG, Nifty Media and Nifty PSU Bank added up to 2% intraday. Bank Nifty settled at 44,072.10, after touching an intraday high of 44,151.7, two ticks short of its lifetime high.Live Updates 15:43 (IST) 15 May 2023 Nifty 50 technical levels

“On the upside we expect the Nifty to reach levels of 18,500 and hence we change our outlook on the Nifty to positive from sideways. The daily momentum indicator has triggered a negative crossover which is a sell signal, however, until price shows up evidence of the same, we shall continue to maintain a positive outlook. In terms of levels, 18,500 – 18,520 is the immediate hurdle while 18,190 – 18,220 shall act as a crucial support zone and until this support zone is held, we can expect the dips to be bought into and the positive momentum to continue.”

– Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas

15:41 (IST) 15 May 2023 Nifty 50 resistance at 18,500

“The markets do not appear weak until the Nifty does not close below 18,300. Now the major resistance is seen at 18,500 level as nifty near December 2022 high at 18,473. Intraday traders can look for long opportunities only above 18,500 now if the closing comes above 18,500 in 15 min chart. Traders can look for fresh shorts only if Nifty breaks the 18,300 level & remains below for 15 min to ensure short.”

– Rohan Shah, Head Technical Analyst, Stoxbox

15:37 (IST) 15 May 2023 Markets at close

Indian equities BSE Sensex and NSE Nifty 50 ended the session with gains of 0.5% each. Nifty 50 closed at 18,398.85, just shy of the 18,400 level and 60 points down from its intraday high. Sensex closed 317 points higher at 62,346.

15:23 (IST) 15 May 2023 Bank Nifty could see resistance of 45,000

“The Bank Nifty index has crossed above the key psychological mark of 44,000 for the first time this year and is now gearing up to approach the all-time high of 44,151.80 made last year in December. This surge in prices is attributed to growing fundamental tailwinds in major heavyweight components. While the ongoing sentiments are quite bullish, it is important to note that prices are currently trading near their all-time high, and therefore, the possibility of a correctional fall cannot be ruled out. The expected support level for such a correctional fall is around 43,750, where a fresh round of buying can be witnessed. On the higher side, if prices manage to move above 44,152 with a daily closing basis, then the next resistance level will align around 44,500-45,000.”

– Arvinder Singh Nanda, Senior Vice President of Master Capital Services

14:22 (IST) 15 May 2023 Markets near highs

Sensex, Nifty hit five-month highs as Bank Nifty neared its record high of 4,151.8. Nifty 50 traded at the 18,453 level, up 0.75% while Sensex jumped over 500 points to 62,545. Bank Nifty is at the 44,134.25 mark, higher by 0.8%.

14:05 (IST) 15 May 2023 Hero MotoCorp gains

Hero MotoCorp gained over 4% in trade on Monday to touch Rs 2710.9 per equity share.

13:24 (IST) 15 May 2023 Nifty gainers, losers

On the NSE Nifty index, the top winners are Tata Motors, Hero MotoCorp, TechM, Coal India and Infosys, with Tata Motors up 3%. The biggest laggards are Adani Enterprises, Cipla, Divi's Lab, Grasim, BPCL, with Adani Enterprises down 2.5%.

12:56 (IST) 15 May 2023 Adani Enterprises shares fall

Shares of Indian billionaire Gautam Adani’s group declined on Monday after boards of two firms approved proposals to raise as much as $2.6 billion, with market watchers flagging concerns about potential equity dilution. Adani Enterprises, the incubator for new group businesses, slid 4.4% — the most intraday since May 3.

12:33 (IST) 15 May 2023 India’s IIP outlook

“India’s factory output rose lower than expected in March, as electricity and consumer goods production took a hit. This was the slowest rate of growth for the indicator in five months. The Index of Industrial Production expanded 1.1% in March, as compared with a revised growth of 5.78% in February. Manufacturing output expanded 0.5%, compared to 5.6% in last month. Electricity generation dipped 1.6%, compared to 8.2% in February.”

– Deepak Jasani, Head of Retail Research, HDFC Securities

11:53 (IST) 15 May 2023 Bank Nifty surpasses 44,000

“The Bank Nifty index has been demonstrating strong leadership and is expected to reach a new all-time high. However, it is important to acknowledge the possibility of profit booking at this level. If the index manages to stay above the previous high of 44,151, it is likely to move toward the 44,444 and 45,000 levels. It is worth noting that a significant profit booking may only occur if the index falls below the 20-DMA.”

– Santosh Meena, Head of Research, Swastika Investmart

11:38 (IST) 15 May 2023 Tata Motors shares hit new 52-week high, up 4.1%

Auto major Tata Motors share price touched a fresh 52-week high at Rs 537.15 on Monday amid positive earning results for the quarter ended March 2023.

11:18 (IST) 15 May 2023 Nifty 50 hits 18,400

Benchmark index NSE Nifty 50 touched the 18,400 level intraday, as the index gained 0.47% in trade on Monday.

11:03 (IST) 15 May 2023 Japan’s PPI

“The annual producer price inflation in Japan slowed more-than-expected for the fourth consecutive month to 5.8% in April from 7.4% in the previous month. The easing raw material prices also resonates with the Bank of Japan’s core view that a spike in global commodity and fuel costs in the earlier months would start easing as we move forward and would offer some relief to households who are struggling with high inflation which is above the central bank’s 2% target.”

– Manish Chowdhury, Head of Research, Stoxbox

10:25 (IST) 15 May 2023 Retail inflation outlook

“Retail inflation eased in April to an 18-month low of 4.7%, within the tolerance range of the RBI for the second consecutive month. In March, India’s headline inflation stood at 5.66%. India’s IIP in March grew 1.1% as against 2.2% YoY. Lower inflation and industrial growth provides room for the RBI to continue with its pause in the rate hiking cycle.”

– Mitul Shah, Head of Research, Reliance Securities

10:08 (IST) 15 May 2023 Broader markets trade in green

After opening mixed in the morning, the broader markets shift to green amid positive market sentiments. Nifty Midcap 100 traded up at 0.38%, while Nifty Smallcap 100 gained 0.37%. Nifty Next 50 was higher by 0.51%.

10:00 (IST) 15 May 2023 Derivative outlook

“On the options front, highest Put base remained at the 18,200 strike. However, with the recent up move, significant positions have shifted to ATM 18,200 and 18,300 strikes. Considering the positive setup, stability can be expected and downsides should be restricted around 18,150-18,200 levels. We expect the Nifty to gradually move towards 18,500.”

– ICICIdirect report

09:40 (IST) 15 May 2023 FPIs giving market cues, K’taka election to have minimal impact

“Even though the Congress victory in the Karnataka elections was much better-than-expected, it is unlikely to have a negative impact on markets, which in the near-term is driven mainly by FPI inflows backed by improving fundamentals. Karnataka has a long track record of voting out the incumbents. FPIs are unlikely to be deterred by the election outcome.”

– V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

09:26 (IST) 15 May 2023 Sectoral outlook

Nifty Auto added 1%, while Nifty Realty, Nifty IT and Nifty FMCG rose up to 0.9% upon open. Alternatively, Nifty Metal, Nifty Media and Nifty Pharma declined 0.7%, 0.4% and 0.6% respectively.

09:23 (IST) 15 May 2023 Tata Motors up 3%

On the back of positive Q4FY23 earnings, Tata Motors' share price rose 3.7% in the morning session to touch an intraday high of Rs 272.40 per share.

09:19 (IST) 15 May 2023 Markets at open

Indian equity indices BSE Sensex and NSE Nifty 50 opened flat on Monday amid negative global cues. Nifty 50 gained 43 points at 18,358 while Sensex traded at 62,135.8, up by 0.17%.

09:12 (IST) 15 May 2023 Nifty support, resistance levels

“The charts indicate that the Nifty may get support at 18,250, followed by 18,200 and 18,150. If the index advances, 18,350 would be the initial key resistance level to watch out for, followed by 18,420 and 18,500.”

– Deven Mehata, Equity Research Analyst, Choice Broking

09:11 (IST) 15 May 2023 Nifty, Sensex gain during pre-open

Domestic indices NSE Nifty and BSE Sensex gained during the morning's pre-open session. Nifty 50 added 25 points to settle at 18,339 while Sensex rose 130 points to 18,339.

08:47 (IST) 15 May 2023 Earnings season outlook

“Earnings season is in full swing. While IT and commodity companies have faced headwinds, companies in financials, automobile sectors delivered decent earnings. The overall Q4FY23 earnings by India Inc may be an indication of strong global headwinds that could affect future growth projections.”

– Mitul Shah, Head of Research, Reliance Securities

08:41 (IST) 15 May 2023 Nifty, Sensex to see gap-down opening

“Markets are likely to see a gap down opening in Monday trades tracking weakness in other Asian indices as risk aversion is likely to be the preferred theme. Denting sentiments will primarily be reports of ruling party BJP's setback in Karnataka assembly elections. Also, weak Wall Street cues in the backdrop of a worse-than-expected reading on consumer sentiment could also keep investors cautious. India's WPI inflation numbers to be announced later this week will also be keenly watched given the uncertainty over the future course of interest rate direction.”

– Prashanth Tapse, Senior VP (Research), Mehta Equities

08:15 (IST) 15 May 2023 Technical outlook for 15 May

“Intraday traders can look for long opportunities only above 18,350 if the closing

comes above 18,350 in 15 min chart. Traders can look for fresh shorts only if Nifty breaks the 18,200 level & remains below for 15 min to ensure short.”

– Stoxbox

08:11 (IST) 15 May 2023 Adani group shares in focus

Adani Total Gas, Adani Transmission and Adani Green Energy will move out of the ASM framework from May 15. Additionally, two Adani Group companies — Adani Enterprises (AEL) and Adani Transmission (ATL) — plan to raise up to a total of Rs 21,000 crore through qualified institutional placements (QIP) or other modes.

08:09 (IST) 15 May 2023 Share in F&O ban today

The National Stock Exchange has Canara Bank, Delta Corp, GNFC, Manappuram Finance, BHEL and Punjab National Bank securities on its F&O ban list for 15 May. According to the NSE, stocks are prohibited in the F&O sector when they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.

08:09 (IST) 15 May 2023 FII/DII data

Foreign institutional investors (FII) net bought shares worth net Rs 1,014.06 crore, while domestic institutional investors (DII) net sold shares worth net Rs 922.19 crore on May 12, according to the provisional data available on the NSE.

08:09 (IST) 15 May 2023 Crude Oil

Oil prices slipped on Monday as concerns about fuel demand at top global oil consumers in the U.S. and China offset optimism about tightening supplies from any OPEC+ cuts and a resumption in U.S. buying for reserves. Brent crude futures fell 43 cents, or 0.6%, to $73.74 a barrel by 0130 GMT while U.S. West Texas Intermediate crude was at $69.67 a barrel, down 37 cents, or 0.5%.