Share Market Highlights- Nifty settles below 17400, Sensex up 100 pts; Bank Nifty above 40800, Hero Motocorp gains 3%

Share Market Highlights: Nifty settles below 17400, Sensex up 100 pts; Bank Nifty above 40800, Hero Motocorp gains 3%

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Monday’s session in the green territory. The NSE Nifty 50 rose 38.30 pts or 0.22% to 17,398.05 and BSE Sensex climbed 114.92 pts or 0.19% to 59,106.44. Bank Nifty surged 204.40 pts or 0.50% to 40,813.05. The top gainers on Nifty 50 were Hero MotoCorp, Coal India, Bajaj India, Maruti and Divis Lab while the losers were BPCL, Adani Enterprises, Apollo Hospital, Infosys and ITC.  Live Updates

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

15:40 (IST) 3 Apr 2023 Bank Nifty settles above 40800

Bank Nifty surged 204.40 pts or 0.50% to 40,813.05.

15:40 (IST) 3 Apr 2023 Top gainers/losers

The top gainers on Nifty 50 were Hero MotoCorp, Coal India, Bajaj India, Maruti and Divis Lab while the losers were BPCL, Adani Enterprises, Apollo Hospital, Infosys and ITC.  

15:39 (IST) 3 Apr 2023 Nifty, Sensex end in green

The NSE Nifty 50 rose 38.30 pts or 0.22% to 17,398.05 and BSE Sensex climbed 114.92 pts or 0.19% to 59,106.44.

09:40 (IST) 3 Apr 2023 Bank Nifty immediate support at 40200

“Bank Nifty surpassed the hurdle of 40000 with buying action throughout the day on Friday. The breakout confirms the positive momentum and one should keep a buy approach with immediate support at 40200. The index closed above the past 10 days’ high with a sharp surge in volumes which confirms the strength of the index. The index surpassed its 200 DMA which acts as a change of polarity,” said Kunal Shah, Senior Technical Analyst at LKP Securities. 

Share Market Outlook today

09:39 (IST) 3 Apr 2023 If Bank Nifty breaks 41300-41500 then it opens room for 42000

“Bank Nifty is set to gain more momentum as most of the major components witnessed a breakout to the upside, turning near-term bias sideways higher. Prices are currently hovering below 21-week EMA, indicating slight profit booking from the present juncture and that should be containing around 40000 where a fresh round of buying will emerge with potential targets of 41300-41500 which if broken decisively will open the room for 42000 and above,” said Arvinder Singh Nanda, Senior Vice President of Master Capital Services Ltd.

Share Market Outlook today

09:39 (IST) 3 Apr 2023 Bank Nifty target placed at 40951-41671

“The spotlight this week would be on the RBI’s monetary policy announcement. Bank Nifty’s target is 40951-41671 with aggressive targets at the 42000-42045 zone,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Share Market Outlook today

09:38 (IST) 3 Apr 2023 Bank Nifty first support at 40547 and then 40263

Bank Nifty first support placed at 40547, and then 40263 and resistance at 41014 and then 41197, according to Rahul Sharma, JM Financial.

Share Market Outlook today

09:38 (IST) 3 Apr 2023 Nifty likely to test zone of 17480 – 17500

“Nifty has managed to close above the 20-day moving average (17214) which is a sign of strength. The daily momentum indicator has a positive crossover which is a signal. Thus, both price and momentum indicators is suggesting further upside. The index is likely to test the zone of 17480 – 17500 where resistance in the form of the 200-day moving average and the upper end of the falling channel is placed,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.

Share Market Outlook today

09:37 (IST) 3 Apr 2023 Nifty trend likely to remain strong as long as it holds above 17200

“Nifty has moved above the recent consolidation, suggesting a rise in optimism. The momentum oscillator RSI has entered a bullish crossover. The trend is likely to remain strong as long as it remains above 17200. On the higher end, the next important level is 17500–17600, where bears will be waiting,” said Rupak De, Senior Technical Analyst at LKP Securities.

Share Market Outlook today

09:37 (IST) 3 Apr 2023 Nifty decisive move beyond 17450-17580 would affirm trend reversal

“Nifty bullish gap of the 17200-17130 odd zone is expected to cushion any short-term blip, with the sacrosanct support placed around the psychological mark of 17000 for the time being. While on the higher end, a decisive move beyond the bearish gap of 17450-17580 would affirm the trend reversal in the market,” said Osho Krishan, Sr. Analyst – Technical & Derivative Research, Angel One Ltd.

Share Market Outlook today

09:37 (IST) 3 Apr 2023 Nifty to drift in broad horizontal band of 17000-17550

“We expect Nifty to trade further higher towards 17450-17500, the vicinity of 55-day EMA, where ongoing advances could be fizzled out. ‘Buy the dip’ will remain in favour and any correctional fall close to 17200-17150 will provide an opportunity to build fresh long positions. In short term, we expect the index to drift in the broad horizontal band of 17000 t0 17550 with sideways to higher sentiments,” said Arvinder Singh Nanda, Senior Vice President of Master Capital Services Ltd.

Share Market Outlook today

09:36 (IST) 3 Apr 2023 Nifty immediate barrier at 17450

“Nifty has established a short-term bottom around 16800 levels. It successfully crossed its 20-DMA of 17220 during Friday’s trading session, which is encouraging for the bulls. The 200-DMA of 17450 is an immediate barrier; above it, we can anticipate a move toward the 17600 level,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.

Share Market Outlook today

09:36 (IST) 3 Apr 2023 Nifty resistance seen at 17482/17657

“Nifty key support is seen at the 17125 mark. Furthermore, the fiscal year has closed with good marks, and the Nifty has shown support at the 17125/16951 levels. Resistance is seen at 17482/17657. The short-term trend is positive, and we may witness a buy-in dips strategy,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Share Market Outlook today

09:35 (IST) 3 Apr 2023 Nifty first support 17319 and then 17197

Nifty first support placed at 17319, and then 17197 and resistance at 17514 and then 17587, according to Rahul Sharma, JM Financial.

Share Market Outlook today

09:31 (IST) 3 Apr 2023 Nifty fall below 17230 could be a bear call

“At 17426, Nifty would have retraced 62% of the March’s fall, that would take some momentum off the upside trajectory. This necessitates a deft handling of the opening gains. We would hence wait for a close above 17540 before recharting course to 17800. Alternate scenario sees a pull back and consolidation, without allowing slippage past 17230 for the week, allowing resumption of uptrend in the next week. Fall back below 17230 could be a bear call though, but it may not be until below 17100, before downside momentum increases. This, while being one of the probable scenarios, we are still rooting for this week to weatherall storms, and clear course for 17800 soon,” said Anand James – Chief Market Strategist at Geojit Financial Services.

09:29 (IST) 3 Apr 2023 RBI MPC ouctome, OPEC+ output cut to dictate market in near term

“The sharp 279-point rally in the Nifty last Friday was a big relief rally for investors. The important question now is whether this rally can be sustained. There are more headwinds for markets at this stage. The strongest headwind is the sharp 5% spike in Brent crude caused by the unexpected output cut by OPEC+. This will make inflation management tough for the RBI and therefore a 25 bp rate hike by the MPC on April 6th is a given now. Auto sales data in March reflect improvement in domestic demand. Maruti’s numbers are very impressive. Survey among industry leaders indicates rising capex plans and hiring. This augurs well for capital goods. Markets are likely to consolidate around the present levels in the near-term and triggers for directional move are likely to be provided by the Q4 results starting from April 13th,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

09:26 (IST) 3 Apr 2023 Bank Nifty holds above 40600

Bank Nifty fell 6.40 pts or 0.02% to 40,602.25.

09:26 (IST) 3 Apr 2023 Top gainers/losers

The top gainers on Nifty 50 were ONGC, Eicher Motors, Maruti Suzuki, Hero Motocorp and Bajaj Finance while the losers were BPCL, Adani Enterprise, Hindustan Unilever Ltd, Asian Paints and Nestle India.

09:25 (IST) 3 Apr 2023 Nifty, Sensex open in green

NSE Nifty 50 rose 8.80 pts or 0.05% to 7,368.55 and BSE Sensex climbed 46.28 pts or 0.08% to 59,037.80.

09:14 (IST) 3 Apr 2023 Nifty, Sensex end pre-open in green

Domestic indices ended the pre-opening session in the green territory. Nifty 50 rose 68.20 pts or 0.39% to 17,427.95 and BSE Sensex climbed 139.64 pts or 0.24% to 59,131.16.

08:02 (IST) 3 Apr 2023 US market ends in green

The US market ended Friday’s session with strong gains – Dow Jones Industrial Average surged 1.26%, S&P 500 climbed 1.44% and the tech-heavy Nasdaq skyrocketed 1.74%.

08:02 (IST) 3 Apr 2023 Asian markets trade in green

Asian markets were trading in green with China’s Shanghai Composite index rising 0.46%, Japan’s Nikkei 225 climbing 0.48%, Hong Kong’s Hang Seng surging 0.08%, and South Korea’s KOSPI advancing 0.02%.

08:02 (IST) 3 Apr 2023 SGX Nifty in green

The Nifty futures on the Singapore Exchange (SGX) were trading 35 pts or 0.20% higher at 17,452.50 in the early morning trade.