Share Market Highlights- Nifty, Sensex end flat, NSE index below 18600; Bank Nifty above 44150, Auto, Realty gain, IT tanks
Share Market Highlights: Nifty, Sensex end flat, NSE index below 18600; Bank Nifty above 44150, Auto, Realty gain, IT tanks Share Market News Today | Sensex, Nifty, Share Prices Highlights: Benchmark indices ended flat on Tuesday. The NSE Nifty 50 settled at 18,599 and BSE Sensex at 62,792.88. In sectoral indices, Bank Nifty rose 62.90 points or 0.14% to 44,164.55, Nifty Auto jumped 159.25 points or 1.09% to 14,729.50 and Nifty Realty surged 5.85 points or 1.19% to 498.40 while Nifty IT tanked 549.70 points or 1.88% to 28,689.05. The top gainers on Nifty 50 were UltraTech Cement, Divis Lab, Kotak bank, Grasim and Tata Motors while the losers were Tech Mahindra, Infosys, TCS, Wipro and ONGC.Live Updates Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights Benchmark indices, NSE Nifty 50 and BSE Sensex ended flat on Tuesday. “The domestic market experienced profit booking due to selling pressure in the IT sector. IT stocks witnessed a decline in anticipation of further downward revision in spending. However, a rally in auto and banks helped to recover the losses. Going ahead an important influencer will be the commentary on growth and inflation forecasts by the RBI following its MPC meeting given the general consensus that rate pause will continue,” said Vinod Nair, Head of Research at Geojit Financial Services. Check support, resistance The NSE Nifty 50 closed at 18,599 and BSE Sensex settled at 62,792.88. Nifty Realty jumped 5.45 points or 1.11% to 498. The top gainers on the index were Macrotech Developers (LODHA), Oberoi Realty, Brigade Enterprises, Mahindra Lifespace Developers and DLF while the losers were Indiabulls Real Estate and Sobha Ltd. Nifty Auto jumped 145 points or 1% to 14,716. The top gainers were TVS Motor, Maruti Suzuki, Tata Motors, Mahindra & Mahindra and Hero Motocorp while the losers were Sona BLW Precision Forgings, Samvardhana Motherson International, MRF, BOSCH and Tube Investments of India. Adani Group said that it has improved its debt metrics as it has repaid loans aggregating $2.65 billion to complete a prepayment programme to cut overall leverage in order to win back investor trust post the Hindenburg report. “The Group has made a full prepayment of margin linked share backed financing totalling $2.15 billion before 12 March, well in advance of the 31st March 2023 timeline. The promoters also prepaid $700 million debt taken for the Ambuja Cement acquisition. The prepayment was done along with interest payment of $203 million,” the company said in a statement. The conglomerate also stated that the promoters completed a secondary transaction with GQG Partners of $1.87 billion (Rs 155 billion) for four key listed entities. Read Full Story Nifty IT tanked 621.75 points or 2.13% to 28,617. The top losers were Persistent Systems, Coforge, MPhasis, Infosys and Tech Mahindra while there were no gainers on the index. NSE’s move of shifting Bank Nifty’s Futures and Options (F&O) expiry from Thursday to Friday has surprised traders. The changes will be effective from the trade date of Friday, July 7, 2023; accordingly, all existing contracts with Thursday expiry will be revised to Friday by the end of the day on July 6, 2023. The first Friday expiry will be on July 14, 2023, according to NSE. With this change, NSE will now have an F&O expiry on every day of the week except Monday, with effect from the week starting July 9. There is the Nifty Financial expiry on Tuesday, Nifty Midcap Select on Wednesday, Nifty 50 on Thursday and now Bank Nifty on Friday. Read Full Story This June series, Nifty futures started with a premium of 70-80 points for the current month. For the Nifty futures, FII maintained around 40% short positions, which is less than the last month’s series, which is now currently up to around 50% shorts. The index witnessed a long buildup rally since the start of this series which later faced profit booking, currently at lower positions. We believe that a dip in the Index could be an opportunity to enter into longs and hence the Buy on Dips is the trade sentiment in Nifty. Read Full Story Bank Nifty dipped 8.40 points or 0.02% to 44,093.25. The top gainers on the index were Axis Bank, Kotak Bank, IndusInd Bank and IDFC First Bank while the losers were ICICI Bank, Federal Bank, PNB, HDFC Bank and SBIN. Bank Nifty Live Updates IKIO Lighting IPO opened for public subscription today, ie, Tuesday, 6 June, and will close on Thursday, 8 June. The bidding for anchor investors concluded on Monday, wherein the company collected Rs 182 crore. The price band for its public issue at Rs 270-285 per equity share of face value Rs 10 each. At the upper end of the price band, the company’s promoters and shareholders seek to raise Rs 607 crore from the IPO. Ahead of the public issue, IKIO Lighting shares’ GMP rose to Rs 95 per equity share, 33% over the upper end of the share price on offer. Read Full Story Gold rate is trading flat on Tuesday, while the silver rate is up 0.25%. On Multi Commodity Exchange, gold August futures were trading at Rs 59,869 per 10 grams, up Rs 21 or 0.04%. Silver July futures were trading higher by Rs 177 at Rs 72,049 per kg on MCX. Globally, the yellow metal prices steadied in a tight range on Tuesday as optimism that the U.S. central bank will not hike interest rates this month kept the dollar under pressure. Spot gold held its ground at $1,960.89 per ounce by 0239 GMT. U.S. gold futures edged 0.1% higher to $1,976.80. Read Full Story Bank Nifty Futures and Options (F&O) expiry day has been changed from Thursday to Friday, said NSE. The changes will be effective from the trade date of Friday, July 7, 2023; accordingly, all existing contracts with Thursday expiry will be revised to Friday by the end of day on July 6, 2023. The first Friday expiry will be on July 14, 2023. If Friday is a trading holiday then the expiry date will be the previous trading day, NSE added. Last Month, BSE also changed the expiration day of Sensex and Bankex monthly, weekly and long-dated futures and options contracts to Fridays from Thursdays. Read Full Story Bank Nifty Futures and Options expiry day has been changed from Thursday to Friday, said NSE. SBI Cards and Payment Services share price fell 0.4% to Rs 916.25 after the board approved raising of funds by way of issuance of Non-Convertible Debentures (NCDs) aggregating to Rs 3,000 crore in one or more tranches, on a private placement basis. Paytm share price gained 0.22% to Rs 715.65 after the disbursements of the company rose 169% on-year to Rs 9,618 crore during April and May. In terms of volume, loans rose 54% on-year to 8.5 million. Adani Enterprises share price jumped 3% to Rs 2,506.95 today after the Gautam Adani led group said it has repaid loans aggregating $2.65 billion to complete a prepayment programme to cut overall leverage. Adani Group made a full prepayment of loans that were taken by pledging shares and also another $700 million in loans taken for the acquisition of Ambuja Cement. Nifty IT tanked 439.50 points or 1.50% to 28,799.25. The top losers were Persistent Systems, MPhasis, Coforge, Infosys and Tech Mahindra while there were no gainers. Bank Nifty rose 47.90 points or 0.11% to 44,149.55. The top gainers on the Nifty 50 were Axis Bank, Kotak Bank, IndusInd Bank, IDFC First Bank and PNB while the losers were Infosys, Tech Mahindra, Wipro, HCL Tech and TCS. The NSE Nifty 50 and BSE Sensex opened on a flat note. Nifty 50 was trading at 18,594.15 and the 30-share BSE benchmark was trading at 62,788.99. Benchmark indices ended the pre-opening session flat. The NSE Nifty 50 dipped 6.95 points or 0.04% to 18,600.80 and BSE Sensex fell 49.12 points or 0.08% to 62,738.35. “If Bank Nifty sustains above the range of 44050 on a weekly basis, it will start moving towards 45000 in the coming weeks. The resistance is at around 44000-44100 and the support is at around 43900-43950 till the time index breaks this range it is expected to remain sideways. Technical indicator RSI is at around 60 and is showing strength by sustaining above 50 levels,” said Mitesh Karwa, Research Analyst at Bonanza Portfolio Ltd. Share Market Outlook Today “Bank Nifty monthly option chain data reflects on 44000 straddles continue to play tug of war, with CE writers holding overall more than lakh OI contracts at various strikes all the way till 47000CE. PCR_OI at 44000 is nearly 1.25 and the sustenance above 44200 here will see 45000 zones on an immediate basis,” said Shilpa Rout – Derivatives Lead Analyst, Prabhudas Lilladher Pvt Ltd. Share Market Outlook Today “Bank Nifty is expected to continue to trade within the range of 43700-44300. This suggests that the index is likely to move sideways, lacking a clear trend,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities. Share Market Outlook Today Bank Nifty has developed a cooling-off setup on the weekly chart which indicates a pause in momentum for the time being. Bank Nifty intraday strategy: Buy on dip with a stop loss placed at 43700. First support at 44185 and then 44090 while resistance at 44393 and 44506, according to Rahul Sharma, JM Financial. Share Market Outlook Today “Nifty sideways movement is accompanied by low trading volumes, suggesting a relatively lower level of market participation and activity. The index has a support at 18550 and a resistance at 18660. Despite the sideways trend, the overall undertone of the market remains bullish,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities. Share Market Outlook Today “Nifty has formed a small bearish candle which indicates indecisiveness between the bulls and bears. As long as the index is trading above 18550 the positive sentiment is likely to continue. Above the same, the index could rally till 18650-18700. On the flip side, below 18550, the selling pressure is likely to accelerate. Below which, the index could slip till 18500-18450,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd. Share Market Outlook Today “Nifty seems to have entered a consolidation phase, with immediate support around 18500-18450, while immediate resistance is observed at 18650-18700. A sustained close above this crucial resistance level is needed to initiate a momentum move, and it appears that the markets are awaiting a trigger for this to happen,” said Rajesh Bhosale, Technical Analyst at Angel One Ltd. Share Market Outlook Today “The key support level to monitor for the Nifty is at 18417, while major obstacles lie at 18664. If the Nifty surpasses the 18664 mark, it could trigger a larger rebound towards its all-time high at 18888,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. Share Market Outlook Today “Volume profile indicates Nifty has strong support around the 18450-18500 zone. Coming to the OI Data, on the call side, the highest OI was observed at 18600 followed by 18700 strike prices while on the put side, the highest OI is at 18500 strike price,” said Deven Mehata, Equity Research Analyst at Choice Broking. Share Market Outlook Today “Nifty weekly expiry option chain witnesses 18500PE holding maximum exposure of over 2 lahk OI contracts, with 18600 adding the highest fresh OI additions of 0.68 lakh contracts. CE writers active at 19500 strikes – again more than 2.23 lakh OI contracts, followed by 18600CE – also more than 2 lakh OI contracts, with various immediate strikes holding overall lakh contracts. PCR OI at 18600 is 1.2, which if increases will witness further short covering on the index,” said Shilpa Rout – Derivatives Lead Analyst, Prabhudas Lilladher Pvt Ltd. Share Market Outlook Today NSE Nifty 50 has developed a cooling-off setup on the weekly chart which indicates a pause in momentum for the time being. However, the undertone is still bullish as Market Breadth Thurst indicator has improved significantly. Nifty intraday strategy: Bearish with stop loss at 18663 for the target of 18500. Positional view: Buy on the dip – Target: 19000. First support at 18583 and then 18500 while resistance at 18640 and 18663, according to Rahul Sharma, JM Financial. Share Market Outlook Today The National Stock Exchange has Manappuram Finance, India Cements, Indiabulls Housing Finance securities on its F&O ban list for 6 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. Foreign institutional investors (FII) sold shares worth a net Rs 701 crore, while domestic institutional investors (DII) bought shares worth a net Rs 1,195.98 crore on June 5, according to the provisional data available on the NSE. “The equity market is maintaining stability due to a continuous stream of favourable domestic economic indicators. Stronger-than-expected domestic PMI figures, sequential growth in auto sales, and robust expansion in bank credit are instilling investor confidence in India’s growth prospects. On the other hand, the US jobs data presented a mixed picture, with non-farm payroll showing acceleration while the unemployment rate surged from 3.4% to 3.7% in May,” said Vinod Nair, Head of Research, Geojit Financial Services. Read Full Story The SGX Nifty experienced a slight decline on Tuesday, indicating a slightly negative opening for the domestic indices NSE Nifty 50 and BSE Sensex. However, the previous day’s trading session concluded on a positive note, with Nifty 50 closing at 18,594, reflecting a gain of 0.32%, and Sensex reaching 62,787, up by 0.38% or 240 points. Read Full Story The US market ended the overnight session in red – Dow Jones Industrial Average (DJIA) fell 0.59%, S&P 500 dipped 0.20% and the tech-heavy Nasdaq was down 0.09%. Asian markets were trading in mostly green – Hong Kong’s Hang Seng rose 0.23%, China’s Shanghai Composite index fell 0.30%, Asia Dow was up 0.21% and Japan’s Nikkei 225 rose 0.19%. The Nifty futures on the Singapore Exchange (SGX) were trading 15 points or 0.08% lower at 18,709.5 in today’s early morning trade. 
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