Share Market Highlights- Nifty ends above 19400, Sensex soars 270 pts; Bank Nifty below 44750, UPL, Bajaj Finance fall

Share Market Highlights: Nifty ends above 19400, Sensex soars 270 pts; Bank Nifty below 44750, UPL, Bajaj Finance fall

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Tuesday’s session broadly in green. The NSE Nifty 50 rose 83.50 points or 0.43% to 19,439.40 and BSE Sensex surged 273.67 points or 0.42% to 65,617.84. In sectoral indices, Bank Nifty fell 0.26%, Nifty Financial Services tumbled 0.44% while Nifty Auto soared 1.39%, Nifty FMCG jumped 1.23% and Nifty Pharma gained 1.04%. The top gainers on Nifty 50 were Eicher Motors, Sun Pharma, Tata Consumer, Apollo Hospitals and Maruti Suzuki while the losers were UPL, Bajaj Finance, Axis Bank, JSW Steel and HCL Technologies.Live Updates

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

16:29 (IST) 11 Jul 2023 Where is share market headed after Nifty closes above 19430, Bank Nifty below 44750

Benchmark indices NSE Nifty 50 and BSE Sensex ended Tuesday’s session broadly in green. “The market now awaits the Q1 results, IT sector which kicks off tomorrow, where expectations are muted with a focus on the sustenance of margin and improvement in long-term guidance. The positivity also stems from China’s anticipated stimulus to withstand economic growth and hope on the moderation in US inflation data. The overall valuation for India is marginally above the long-term average, which is fair given strong earnings expectations on FY24,” said Vinod Nair, Head of Research at Geojit Financial Services.

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15:38 (IST) 11 Jul 2023 Nifty, Sensex end in red

The NSE Nifty 50 advanced 83.50 points or 0.43% to 19,439.40 and BSE Sensex rose 273.67 points or 0.42% to 65,617.84.

10:21 (IST) 11 Jul 2023 Vedanta stock tanks 2% today after Foxconn ends $19.5 bln semiconductor JV; No impact on India, says IT Min

Vedanta share price tanked 2% to Rs 274.90 today after Foxconn pulled out of a $19.5 billion semiconductor joint venture with the billionaire Anil Agarwal-led company. Despite a positive sentiment in the domestic market, Vedanta shares have traded flat in the last few months. While the stock has risen over 21% in the last one year, it has fallen 12.5% in the past six months. At the current price of Rs 277.50 per share, the company’s market capitalization stands at Rs 1.03 lakh crore.

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09:21 (IST) 11 Jul 2023 Nifty, Sensex open in green

The NSE Nifty 50 surged 75.70 points or 0.39% to 19,431.60 and BSE Sensex jumped 274.29 points or 0.42% to 65,618.46.

09:14 (IST) 11 Jul 2023 Nifty, Sensex jump in pre-open

Domestic indices ended the pre-opening session in the green. The NSE Nifty 50 rose 71.20 points or 0.37% to 19,427.10 and BSE Sensex jumped 254.48 points or 0.39% to 65,598.65.

09:03 (IST) 11 Jul 2023 Bank Nifty resistance at 45420-45655

“Bank Nifty after forming a high wave candle followed by a Doji candle has closed below the candle’s low forming a bearish formation. Bank Nifty closing below 44750 levels will fill the gap and can be said an exhaustion gap. The exhaustion gap is a short-term trend reversal signal. The crucial support for the index is placed at 44750 followed by 44458 on the higher side resistance is placed at 45420 followed by 45655,” said Mitesh Karwa Research Analyst at Bonanza Portfolio Ltd.

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09:02 (IST) 11 Jul 2023 Bank Nifty may slip till 44500-44400 if 44800 level is breached

“The dominance of bears indicates a cautious market environment. The immediate resistance for the Bank Nifty is placed at 45200. If the index manages to break above this level, it could potentially shift the control back to the bulls. On the other hand, the index finds immediate support at 44800. If this support level is breached, it may lead to further downside movement towards the 44500-44400 zone,” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.

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09:02 (IST) 11 Jul 2023 Bank Nifty multiple support between 44840–44587

“Bank Nifty continued to trade with a negative bias. It witnessed follow-through selling pressure and filled the gap area between 44800–44900 created on 3 July 2023. The Bank Nifty is in the process of retracing the rise it witnessed in the last couple of weeks and there are multiple supports in the form of Fibonacci retracement levels around 44840–44587 which could arrest the downside. The correction is providing an opportunity for an entry and this is a dip that should be bought into,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.

Share Market Outlook Today

09:02 (IST) 11 Jul 2023 Nifty support at 19200–19180; resistance at 19520–19550

“Nifty faced resistance in the zone 19430–19450 where the 20-hour moving average is placed. On the daily charts, we can observe that the Nifty is in the process of retracing the rise it has witnessed in the previous couple of weeks. The crucial Fibonacci retracement level and gap area coincide around 19200–19180 which could act as a support zone from a short-term perspective and on the upside 19520–19550 shall act as an immediate hurdle zone from a short-term perspective,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.

Share Market Outlook Today

09:01 (IST) 11 Jul 2023 Nifty support at 19200-19235

“Nifty bullish gap of 19200-19235 is likely to act as a strong support zone, and till the index sustains above the same, one needs to utilize the dip. On the higher front, a sustainable breakthrough beyond the immediate resistance of 19500-19525 could only bring the cheer back to the trader’s fraternity,” said Osho Krishan, Sr. Analyst, Technical & Derivative Research, Angel One Ltd.

Share Market Outlook Today

09:01 (IST) 11 Jul 2023 Nifty could rally till 19500-19525 if it breaks 19435

“Nifty found resistance near 19435 while 19330 acted as a key support zone. For day traders, a fresh uptrend rally is possible only after the 19435 breakouts, above which the market could rally till 19500-19525. On the other hand, a fresh sell-off could be seen after the dismissal of 19330 and below the same, the index could slip till 19250-19200,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd.

Share Market Outlook Today

09:01 (IST) 11 Jul 2023 Nifty resistance at 19450-19500

“Nifty experienced a range-bound trading pattern. Despite this, the bulls managed to defend the support level of 19300, preventing a significant decline. However, the hourly RSI indicated a bearish crossover. This suggests a potential shift towards a downward trend. If the support level of 19300 is breached, a correction in the market may be expected. On the upside, resistance levels are anticipated around 19450-19500,” said  Rupak De, Senior Technical analyst at LKP Securities.

Share Market Outlook Today

08:20 (IST) 11 Jul 2023 Nifty, Sensex on Monday

On Monday, the NSE Nifty 50 advanced 24.10 points or 0.12% to 19,355.90 and BSE Sensex rose 63.72 points or 0.10% to 65,344.17.

08:20 (IST) 11 Jul 2023 US indices end in green

The US market ended the overnight session in positive territory – Dow Jones Industrial Average (DJIA) rose 0.62%, S&P 500 gained 0.24% and the tech-heavy Nasdaq increased 0.18%.

08:19 (IST) 11 Jul 2023 Asian markets trade in green

Asian markets were trading in green – China’s Shanghai Composite Index rose 0.17%, South Korea’s KOSPI jumped 1%, Hong Kong’s Hang Seng gained 0.79%, Japan’s Nikkei 225 advanced 0.31%, and Asia Dow was up 0.69%.

08:19 (IST) 11 Jul 2023 GIFT Nifty gains 30 pts

The GIFT Nifty futures were trading 31 points or 0.16% higher at 19,488.

08:16 (IST) 11 Jul 2023 Crude prices gain

Oil prices edged higher on Tuesday, recouping some of the losses from the previous session, as traders focused on supply cuts by the world’s biggest oil exporters Saudi Arabia and Russia and a weaker dollar.

08:16 (IST) 11 Jul 2023 PNB, ZEEL, BHEL and others under F&O ban today

The National Stock Exchange has Punjab National Bank, Delta Corp, Indiabulls Housing Finance, ZEE, India Cements, Granules India, and BHEL securities on its F&O ban list for 11 July. 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.

08:15 (IST) 11 Jul 2023 FII/DII Data

Foreign institutional investors (FII) bought shares worth a net Rs 588.48 crore, while domestic institutional investors (DII) purchased shares worth a net Rs 288.38 crore on 10 July, according to the provisional data available on the NSE.

08:14 (IST) 11 Jul 2023 Will Nifty top 19400 or give up gains? See GIFT Nifty, FII data, F&O ban, crude, more before market opens

“Indian equities faced broad-based weakness, but the benchmark managed to stay marginally positive with the support of strong buying in heavyweight stocks. The weakness was led by IT stocks, as the sector is set to kick off the Q1 result season with expectations of soft earnings. Additionally, cues from the US markets are unfavourable, as concerns about another rate hike persist despite expectations of a fast cooling of future US CPI inflation data,” said Vinod Nair, Head of Research at Geojit Financial Services.

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08:13 (IST) 11 Jul 2023 Stocks To Watch: Vedanta, SBI Card, SBI, Tata Communications, Biocon, CarTrade Tech

The GIFT Nifty recorded a 0.16% gain during Tuesday’s early trading session, with a value of 19,487.5 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex.

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