Share Market Highlights- Nifty settles above 18800, Sensex jumps 450 pts; Bank Nifty above 43900, Wipro, Bajaj Auto fall

Share Market Highlights: Nifty settles above 18800, Sensex jumps 450 pts; Bank Nifty above 43900, Wipro, Bajaj Auto fall

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended the last session of the week broadly in green. The NSE Nifty 50 gained 137.90 points or 0.74% to 18,826 and BSE Sensex skyrocketed 466.95 points or 0.74% to 63,384.58. In sectoral indices, Bank Nifty surged 494.55 points or 1.14% to 43,938.15, Nifty Financial Services jumped 1.19% and Nifty PSU Bank soared 1.46% while Nifty IT fell 0.38% and Nifty Realty dipped 0.21%. The top gainers on Nifty 50 were HDFC Life, SBI Life, Bajaj Finserv, Dr Reddy’s Laboratories and Titan while the losers were Wipro, Bajaj Auto, TCS, BPCL and ONGC.   Live Updates

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

16:05 (IST) 16 Jun 2023 Where is share market headed after Nifty closes above 18820, Bank Nifty above 43930

Benchmark indices NSE Nifty 50 and BSE Sensex ended the last session of the week broadly in green. “The domestic market rebounded with strong buying in banking, pharma, and consumer stocks, along with positive cues from global markets. The US market’s optimism was bolstered by better-than-expected retail sales, reflecting the robustness of the economy. Furthermore, jobless claims remain elevated and a decline in import prices raised hopes for a prolonged pause in interest rate hikes by the Fed, contradicting their announcement of potential future rate hikes made the previous day,” said Vinod Nair, Head of Research at Geojit Financial Services.

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15:35 (IST) 16 Jun 2023 Nifty, Sensex end in green

The NSE Nifty 50 rose 137.90 points or 0.74% to 18,826 and BSE Sensex surged 466.95 points or 0.74% to 63,384.58.

15:18 (IST) 16 Jun 2023 Nifty, Sensex near all-time highs, but Zerodha CEO Nithin Kamath doesn’t feel like it’s a bull run; here’s why

NSE Nifty 50 is just 100 points away from its all-time high. While analysts believe that the benchmark index will touch a fresh high soon, Zerodha founder and CEO Nithin Kamath is not convinced that the bull run has started. He pointed at the active NSE clients and social media trends, which are way below their all-time highs. He further said that the real competition of Zerodha is not its peers but the bank’s high FD rates which have attracted retail investors over time. 

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15:15 (IST) 16 Jun 2023 Gold to move lower, sentiment negative; sell on rises until MCX gold price breaches 60,400

The latest US inflation report revealed a contradictory outlook for the U.S where inflation came at lowest level in more than two years but the core CPI which skips food and energy prices as they are volatile came at 5.3% vs 5.5%. That might be the reason that even though the Fed paused during this meet, there are chances of two more rate hikes before the end of the year and no chance of rate cut unless inflation comes down significantly. If the Fed is still dealing with core inflation between 3% and 3.5% at the end of the year, markets won’t be expecting rate cuts any time soon either and this does not bode well for gold. 

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15:15 (IST) 16 Jun 2023 Volume Gainers

Cyber Media (India), Windlas Biotech, Vidhi Specialty Food Ingredients, Meghmani Finechem, Invesco India Gold Exchange Traded Fund, Excel Industries, Shalby, Ambica Agarbathies & Aroma Industries, Gufic Biosciences, Kamdhenu Ventures, Lokesh Machines, Kalyan Jewellers India, Mangalore Refinery and Petrochemicals, Polyplex Corporation, Apollo Micro Systems, Umang Dairies, NRB Industrial Bearings, Nitiraj Engineers, Creative Newtech, GMR Power and Urban Infra, Wockhardt and Landmark Cars were among volume gainers.

15:14 (IST) 16 Jun 2023 Stocks at 52-Week Lows

Bodhi Tree Multimedia, Equippp Social Impact Technologies, IKIO Lighting, Jet Airways (India), M K Proteins, Paras Petrofils, Reliance Communications, Siti Networks and Sintex Plastics Technology were among the 10 stocks that hit 52-week lows.

15:14 (IST) 16 Jun 2023 Stocks at 52-Week Highs

AIA Engineering, Ambica Agarbathies & Aroma Industries, Ami Organics, Apollo Micro Systems, Apollo Hospitals Enterprise, Artemis Medicare Services, Aurionpro Solutions, Baid Finserv, Balmer Lawrie & Company, Bombay Burmah Trading Corporation, Bcl Industries, Brand Concepts, Mrs Bectors Food Specialities, Bharat Electronics, Birla Corporation, B L Kashyap and Sons, Britannia Industries, Carborundum Universal, Cholamandalam Investment and Finance Company, Cholamandalam Financial Holdings, Cords Cable Industries, Crown Lifters, Dalmia Bharat, Data Patterns (India), Dynamic Cables, Dynamatic Technologies, Electrosteel Castings, Endurance Technologies, Exide Industries, The Great Eastern Shipping Company, GKW, Godrej Industries, Godawari Power And Ispat, Garden Reach Shipbuilders & Engineers, Gujarat State Petronet, Hindustan Aeronautics, Hariom Pipe Industries, Hilton Metal Forging, Himadri Speciality Chemical, IDFC, IDFC First Bank, IFGL Refractories, IKIO Lighting, The Indian Hotels Company, Indo Tech Transformers, Ingersoll Rand (India), International Conveyors, Iris Clothings, Isgec Heavy Engineering, ITC, Inox Wind Energy, Jay Bharat Maruti, JB Chemicals & Pharmaceuticals, JITF Infralogistics, JK Cement, Jindal Stainless, JSW Ispat Special Products, JSW Steel, Jubilant Industries, Jupiter Wagons, Karur Vysya Bank, Krishna Institute of Medical Sciences, Kirloskar Brothers, Kirloskar Industries, Kirloskar Pneumatic Company, Kriti Nutrients, Lorenzini Apparels, Lokesh Machines, Lupin, Magadh Sugar & Energy, Mahamaya Steel Industries, Mankind Pharma, Max Healthcare Institute, Mazagon Dock Shipbuilders, MIC Electronics, Mishra Dhatu Nigam, Nestle India, Narayana Hrudayalaya Ltd., NINtec Systems, Nitin Spinners, Novartis India, Oracle Financial Services Software, Olectra Greentech, One 97 Communications, PCBL, PI Industries, Pitti Engineering, Power Mech Projects, Precision Camshafts, Ramkrishna Forgings, Roto Pumps, Route Mobile, R S Software (India), Safari Industries (India), Sahyadri Industries, Saksoft, Sarda Energy & Minerals, Servotech Power Systems, Shyam Metalics and Energy, Sigma Solve, Steel Strips Wheels, Sundaram Finance, Sundram Fasteners, TARC, Titan Company, Triveni Turbine, Titagarh Wagons, The Ugar Sugar Works, UltraTech Cement, V.S.T Tillers Tractors, Wendt (India), Windlas Biotech, Windsor Machines and Zydus Lifesciences were 128 stocks that hit 52-week highs.

15:14 (IST) 16 Jun 2023 Bank Nifty, PSU Bank gain; IT falls

In sectoral indices, Bank Nifty soared 343 points or 0.79% to 43,786.60, Nifty PSU Bank gained 1.37% while Nifty IT fell 0.25%.

15:14 (IST) 16 Jun 2023 India VIX falls nearly 3%

The volatility index, India VIX fell 2.93% to 10.76.

15:13 (IST) 16 Jun 2023 Boader indices rise

The broader market indices were trading in the green – Nifty Next 50 jumped 1.2%, Nifty Smallcap 100 gained 1.27% and Nifty Total Market rose 0.92%.

14:24 (IST) 16 Jun 2023 Nifty jumps above 18800, Sensex soars 390 pts

The NSE Nifty 50 jumped 116.05 points or 0.62% to 18,804.15 and BSE Sensex soared 393.58 points or 0.63% to 63,311.21.

11:58 (IST) 16 Jun 2023 Highest dividend-yield mid-cap shares: Canara Bank, ICICI Sec, HPCL, Torrent Power, Oil India, more

REC and Sanofi India shares were among the top dividend paying midcap scrips in the last 12 months, with yields of 8%, according to a list of highest dividend-yielding midcap shares compiled by Axis Securities. Sanofi India also paid out the highest dividend to its shareholders at Rs 570 per equity share. The lowest dividend-yielding firms on this list were ICICI Securities, Indian Railway Finance Corporation, NHPC and Indraprastha Gas, with yields of 4%.

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11:22 (IST) 16 Jun 2023 Bank Nifty, Fin Nifty, PSU Bank, Private Bank indices jump; where are banking stocks headed?

Banking stocks jumped today after falling on Thursday. The favourable global cues and a surge in Bank of Baroda, PNB and Bandhan Bank stocks improved the market sentiment. In the last six sessions, Bank Nifty has closed in red five times, pushing analysts to change their short-term positive outlook to sideways or bearish. Today, Nifty Bank rose 275.65 points or 0.63% to 43,719.25, Nifty Financial Services gained 129.25 points or 0.67% to 19,357.90, Nifty PSU Bank jumped 47.95 points or 1.20% to 4,031.50 and Nifty Private Bank advanced 146.60 points or 0.66% to 22,352.90. All the constituents of the above four indices were trading in green except IEX, Indian Bank and Indian Overseas Bank.

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10:09 (IST) 16 Jun 2023 IKIO Lighting IPO Listing: Shares have bumper debut on bourses, list at 37% premium

IKIO Lighting shares listed at 37% premium over IPO price on BSE amid positive domestic market. The share debuted at Rs 391 on the BSE, as compared to the issue price of Rs 285. The scrip touched a high of XYZ% before touching a high of Rs 411.95, up 44.5%. A positive listing was expected as ahead of the market debut, IKIO Lighting shares were trading at a premium of Rs 90 in the grey market. 

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09:59 (IST) 16 Jun 2023 Bank Nifty jumps above 43700; check top gainers

Bank Nifty surged 269.80 points or 0.62% to 43,713.40. The top gainers were Bank of Baroda, IDFC First Bank, PNB, Bandhan Bank and SBIN while there were no losers.

09:34 (IST) 16 Jun 2023 BHEL shares jump 2%

BHEL share price jumped 2% to Rs 86.15 after the company signed a memorandum of understanding (MoU) with Volvo Eicher Commercial Vehicles to jointly develop and deploy type-IV cylinders (Hydrogen/CNG) in the commercial vehicle segment alert.

09:33 (IST) 16 Jun 2023 TVS Motor shares gain marginally

TVS Motor share price rose 0.38% to Rs 1338.25 after the company sold 11.12 crore equity shares or its 43.54% stake in Emerald Haven Realty for Rs 166.83 crore to TVS Holdings, a promoter group company.

09:31 (IST) 16 Jun 2023 Wipro shares fall marginally

Wipro share price fell 0.31% to Rs 387.75. The company’s shares will turn ex-date for the IT player’s share buyback today. The firm is set to buyback up to 269,662,921 equity shares with a face-value of Rs 445 apiece. The company also announced the opening of its new 5G-Def-i Innovation Center in Austin, Texas, to provide services to help customers develop new products and services and realise the benefits of 5G technology.

09:30 (IST) 16 Jun 2023 Ramkrishna Forgings shares jump nearly 6%

Ramkrishna Forgings share price jumped 5.86% to Rs 432.45 after a consortium between the company and Titagarh Rail Systems signed the contract to manufacture and supply 1.54 million forged wheels over a span of 20 years, under the Atma Nirbhar Bharat Initiative by the Ministry of Railways, Government of India. The total contract is valued at Rs 12,226.5 crore.

09:21 (IST) 16 Jun 2023 Nifty, Sensex open in green

The NSE Nifty 50 gained 60 points or 0.32% to 18,748.80 and BSE Sensex advanced 201.26 points or 0.32% to 63,118.89.

09:12 (IST) 16 Jun 2023 Nifty, Sensex end pre-open in green

Benchmark indices ended the pre-opening session in green. The NSE Nifty 50 rose 35.20 points or 0.19% to 18,723.30 and BSE Sensex gained 43.10 points or 0.07% to 62,960.73.

08:59 (IST) 16 Jun 2023 Nifty, Sensex likely to open firm

“Markets are likely to open firm in view of positive global cues and hopes that the Federal Reserve will be less hawkish. Also, FIIs turning net buyers to the tune of Rs 3086 crore in yesterday’s trade may aid sentiment. However, negative catalysts like Skymet Weather predicting a bleak monsoon in India over the next 1 month coupled with China continuing to struggle on key retail sales and industrial production front could push investors into a caution mode and fuel selling going ahead. For Nifty, the make-or-break support is seen at 18553 mark, while any upward march is possible only once the index breaches its all-time high mark of 18,888 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

08:56 (IST) 16 Jun 2023 Bank Nifty may fall to 42620-42180 if it trades below 43300

“After 12 days of the sideway movement, Bank Nifty witnessed a breakdown of consolidation, indicating that selling pressure can continue in the Index for the coming days. The Momentum Indicator RSI (14) on a Daily Time Frame has given a breakout, from a higher range, supporting the price move. On the higher end, immediate resistance is placed at 44350. Now it has to continue to hold below 43300 zones to witness a downside move towards 42620 and 42180 zones, while resistance exists at 43700 and 43900 levels on the upside,” said Mahesh Prakot Research Analyst at Bonanza Portfolio Ltd.

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08:55 (IST) 16 Jun 2023 Bank Nifty may witness more weakness in near future

“Considering yesterday’s bearish momentum, we may observe more weakness in the near future, with the next support level around the 50-day simple moving average (50sma) at around 43150, followed by the swing low of 42600 recorded in May. On the upside, the previous support level of 43700-43800 will now act as immediate resistance. Traders should take note that this recent weakness is merely a price correction, and the overall trend remains positive. Any further dips should be seen as buying opportunities,” said Rajesh Bhosale, Technical Analyst at Angel One Ltd.

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08:55 (IST) 16 Jun 2023 Bank Nifty may fall to 43000 if it sustains below 43500

“Bank Nifty index has experienced a breakdown on the daily chart, accompanied by significant trading volumes. This suggests the increased selling pressure in the index. The index has breached the support level at 43700, which was expected to provide a level of price support. This breakdown below support indicates a potentially bearish signal for the Bank Nifty. If the index sustains below the level of 43500, it is anticipated to face further selling pressure, potentially driving the index towards the next support level at 43000,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.

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08:55 (IST) 16 Jun 2023 Bank Nifty OI data – Targets: 44000/44300/44550/45000

“Bank Nifty weekly expiry option chain data reflects on 44000CE adding overall more than 1.4 lakh OI contracts, followed by 47000CE – more than 0.77 lakh OI contracts. Various other immediate strikes added close to 0.7 lakh contracts as well, with PE writers active at 43500PE – 0.56 lakh OI contracts. PCR_OI at 43300 is almost 3 and 43400 is just above 1, which hints at support coming at 43300/43250 zones for the Index on an immediate basis. If Bank Nifty holds 43000, a good buy for targets of 44000/44300/44550/45000 zones with a stop loss at 42800,” said Shilpa Rout – Derivatives Lead Analyst, Prabhudas Lilladher Pvt Ltd.

Share Market Outlook Today

08:54 (IST) 16 Jun 2023 Bank Nifty support at 43333-43103; resistance at 43987-44411

Bank Nifty bias negative below 20 DEMA of 43855. First support at 43333 and then 43103 while resistance at 43987 and then 44411, according to Rahul Sharma, JM Financial.

Share Market Outlook Today

08:54 (IST) 16 Jun 2023 Nifty short-term outlook changed to sideways from positive

“Price and momentum indicators are suggesting weakness in the near term and thus we change our short-term outlook on Nifty to sideways from positive. The range of consolidation is likely to be 18800–18500. The 20-day moving average which has been holding out during this rally is placed at 18532 and so only a decisive break below that shall reverse the trend. In terms of levels, 18780–18800 shall act as an immediate hurdle zone while 18530–18500 is a crucial support zone to watch out for,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.

Share Market Outlook Today

08:54 (IST) 16 Jun 2023 Nifty 18750-18800 zone remains the critical hurdle

“The immediate support for Nifty could be seen around 18600, followed by the sacrosanct support of 18500 in the near period. At the same time, any further sell-off could dampen the near-term bullish sentiments. On the higher end, the 18750-18800 zone remains the critical hurdle and seems a daunting task for the bulls to breach the same in the comparable period,” said Osho Krishan, Sr. Analyst, Technical & Derivative Research, Angel One Ltd.

Share Market Outlook Today

08:54 (IST) 16 Jun 2023 Weak sentiment likely to continue till Nifty trades below 18765

“A double top formation on intraday charts and a bearish candle on daily charts are indicating temporary weakness in the markets. As long as the Nifty is trading below 18765, the weak sentiment is likely to continue. Below the same, the index could slip till 18600-18550. However, a fresh uptrend could be seen only after the dismissal of 18765 and could move up to 18825-18875,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd.

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08:53 (IST) 16 Jun 2023 Nifty OI Data – Target: 18850+

“Nifty weekly expiry option chain witnesses 18700 straddles playing very aggressively, with CE writers adding over 1.5 lak OI and PE writers with 1.43 lakh OI contracts, also to observe very rigorous fresh additions of nearly a lakh contracts on each side. Though maximum exposure for CE writers stays at the 18800 strike – again with over 1.59 lakh OI contracts and fresh additions of 1.26 lakh contracts. PCR_OI at 18700 is just below 1, which is the key factor to watch now to understand the direction going ahead. Fresh Buying only if 18700 zones are held, for targets of 18850+, otherwise a sell till 18450 cannot be ruled out,” said Shilpa Rout – Derivatives Lead Analyst, Prabhudas Lilladher Pvt Ltd.

Share Market Outlook Today

08:53 (IST) 16 Jun 2023 Nifty may fall to 18550 in near term

“Nifty experienced a bearish engulfing pattern, indicating a potential reversal of its previous bullish trend. Additionally, it formed a double top on the hourly chart, which further suggests a potential downturn. The Relative Strength Index (RSI) is showing negative divergence, indicating weakening bullish momentum. Over the near term, the Nifty may decline towards the 18550 level. On the higher end, there is resistance expected at the 18750 level,” said Rupak De, Senior Technical at LKP Securities.

Share Market Outlook Today

08:52 (IST) 16 Jun 2023 Nifty support at 18635-18555; resistance at 18770-18800

Nifty may bounce back due to positive global cues but it needs to cross 18770 for any challenge to yesterday’s bearish setup. Trail stop loss to 18555 for Longs. First support at 18635 and then 18555 while resistance at 18770 and then 18800, according to Rahul Sharma, JM Financial.

Share Market Outlook Today

08:51 (IST) 16 Jun 2023 IEX, India Cements, L&T Housing Finance and others under F&O ban today

The National Stock Exchange has IEX, India Cements, L&T Housing Finance, Tata Chemicals, Delta Corp, BHEL, Manappuram Finance, ZEEL and Indiabulls Housing Finance securities on its F&O ban list for 16 June. 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.

08:50 (IST) 16 Jun 2023 FII/DII data

Foreign institutional investors (FII) purchased shares worth a net Rs 3,085.51 crore, while domestic institutional investors (DII) offloaded shares worth a net Rs 297.88 crore on June 15, according to the provisional data available on the NSE.

08:49 (IST) 16 Jun 2023 Oil prices slip

Oil prices edged lower in early trade on Friday, taking a pause from the previous session when futures gained steeply on optimism around higher energy demand from top crude importer China.

08:49 (IST) 16 Jun 2023 Will Nifty rise or fall below 18,600? See SGX Nifty, FII data, US shares, more before market opens

On Thursday, snapping the three-day gaining streak, the domestic indices NSE Nifty 50 and BSE Sensex ended the day in the negative territory. Sensex fell 310.88 points to 62,917.63, while Nifty 50 gave up 0.35% to close at 18,688.10.

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07:56 (IST) 16 Jun 2023 US indices end in green

The US market ended the overnight session broadly in green – Dow Jones Industrial Average (DJIA) jumped 1.26%, S&P 500 surged 1.22% and the tech-heavy Nasdaq soared 1.15%.

07:56 (IST) 16 Jun 2023 Asian markets trade mixed

Asian markets were trading mixed – Hong Kong’s Hang Seng rose 0.62%, China’s Shanghai Composite Index gained 0.41%, South Korea’s KOSPI climbed 0.2% while Japan’s Nikkei 225 fell 0.74% and Asia Dow dipped 0.1%.

07:55 (IST) 16 Jun 2023 SGX Nifty gains 40 pts

The Nifty futures on Singapore Exchanges (SGX) were trading 43 points or 0.23% higher at 18,802.5 in the early morning trade.

07:55 (IST) 16 Jun 2023 Stocks To Watch: BHEL, HCL Tech, Wipro, TVS Motors, Ramkrishna Forgings, Titagarh Wagons, HDFC Life

The SGX Nifty recorded a gain of 0.25% during Friday’s early trading session, with a value of 18,807 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex. “The domestic market is responding to the Fed’s hawkish commentary, which suggests the possibility of 2 more rate hikes in the future this year, although they have currently opted for a halt. Due to concerns about inflation persisting above their target range, Fed officials have increased their rate projections by 47.5bps for the end of 2023 to 5.6%. Despite weakness in the benchmark index, there is buying interest observed with the Nifty Mid-cap index trading at an all-time high,” said Vinod Nair, Head of Research, Geojit Financial Services.

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