Share Market Highlights- Nifty settles below 17700, Sensex falls 180 pts; Bank Nifty above 42250, Divis Lab, HCL Tech gain

Share Market Highlights: Nifty settles below 17700, Sensex falls 180 pts; Bank Nifty above 42250, Divis Lab, HCL Tech gain

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices extended losses on Tuesday and settled in the red. The NSE Nifty 50 fell 46.7 points or 0.26% to 17,660.15 and BSE Sensex plunged 183.74 points or 0.31% to 59,727.01. In sectoral indices, Bank Nifty rose 2.65 points or 0.01% to 42,265.20 and Nifty IT jumped 158.75 points or 0.59% to 27,166.95. The top gainers on Nifty 50 were Coal India, Maruti, Sun Pharma, Hindalco and UPL while the top losers were Power Grid, UltraTech Cement, Adani Enterprises, Apollo Hospital and Titan.Live Updates

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

15:46 (IST) 18 Apr 2023 Top gainers/losers

The top gainers on Nifty 50 were Coal India, Maruti, Sun Pharma, Hindalco and UPL while the top losers were Power Grid, UltraTech Cement, Adani Enterprises, Apollo Hospital and Titan.

15:45 (IST) 18 Apr 2023 Bank Nifty ends above 42250; Nifty IT jumps 150 pts

In sectoral indices, Bank Nifty rose 2.65 points or 0.01% to 42,265.20 and Nifty IT jumped 158.75 points or 0.59% to 27,166.95.

15:45 (IST) 18 Apr 2023 Nifty, Sensex settle in red

The NSE Nifty 50 fell 46.7 points or 0.26% to 17,660.15 and BSE Sensex plunged 183.74 points or 0.31% to 59,727.01.

14:03 (IST) 18 Apr 2023 Nifty short view initiated since it broke 17650

Nifty short view initiated since it broke 17650. The next support is placed at 17574 while resistance at 17750-17840, according to Rahul Sharma of JM Financial.

13:40 (IST) 18 Apr 2023 Mankind Pharma IPO to open on April 25

Mankind Pharma’s IPO will open for public subscription on Tuesday, April 25. The drug makers’ initial public offer will conclude on April 27, and the bidding for anchor investors will open on April 24, according to the red herring prospectus (RHP). The IPO is entirely an offer for sale (OFS) of 40,058,844 equity shares by promoters and other existing shareholders. The company will not receive any proceeds from the issue and the entire amount will go to the shareholders. The shares are likely to get credited on May 8, and list on stock exchanges on May 9, according to reports.

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12:15 (IST) 18 Apr 2023 Sugmya Finance touches Rs 300 cr+ AUM; enables loan disbursements worth Rs 465 cr

Sugmya Finance Pvt Ltd registered 295% growth in FY23. The company’s consolidated Asset Under Management (AUM) has touched Rs 302 crore (own book portfolio of Rs 250 crore and managed book portfolio of Rs 52 crore), as compared to Rs 102 crore registered in 2022. With 1 lakh plus active loan customers on board, Sugmya has cumulatively disbursed loans worth over Rs 465 crores in FY 2023. This is a 370% increase in the number of loan disbursements in the previous year.

12:10 (IST) 18 Apr 2023 Nifty Pharma rises over half a percent

Nifty Pharma rose 67.80 points or 0.55% to 12,471.40. The top gainers on the index were Lupin, Biocon, AuroPharma, Glenmark and Pfizer while the top losers were Gland Pharma, Sun Pharma, Cipla, Sanofi and Nacto Pharma.

11:01 (IST) 18 Apr 2023 Avalon Technologies shares make flat debut

“Avalon Technologies Ltd. made its debut in the market at a listing price of 436. The company's issue price was Rs 415-436, so shares are listed at par with no profit and no loss. Despite its strong and stable financial performance, Avalon Technologies experienced a decline in its PAT margin during the first eight months of FY22 and currently has a high debt ratio. Investors with a high-risk tolerance may consider holding Avalon Technologies Ltd. shares long-term, with a recommended stop loss of around 405, which is the lower price band of the issue,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.

10:11 (IST) 18 Apr 2023 RIL shares down ahead of Q4 results

Reliance Industries Limited (RIL) shares are down 1.3%, below Rs 2340. The company will release its fourth quarter results on Friday, 21st April.

10:10 (IST) 18 Apr 2023 HCL Tech shares up ahead of results

HCL Tech shares are up 1%, price above Rs 1050; Q4 results are to be announced on 20th April.

10:10 (IST) 18 Apr 2023 ICICI Bank shares trade flat

ICICI Bank shares trading at Rs 900, flat from previous close, ahead of Q4FY23 results later this week.

10:02 (IST) 18 Apr 2023 Avalon Tech listing at par

Avalon Tech lists at Rs 436/ share on NSE vs Issue price of Rs 436/ share.

09:48 (IST) 18 Apr 2023 Nifty IT support at 26000-25000, resistance placed around 30000

“Infosys Ltd shares slumped nearly 15 per cent on Monday but later on recovered some losses and ended nearly down by 10 percent dragging peers and the benchmark index after the company's gloomy revenue outlook raised concerns about demand for Indian IT services. Looking forward, there is support for the Nifty IT Index around the 26000-25000 zone, while resistance is placed around 30000 levels. The negative sentiments from the beginning of the quarterly results led by TCS and Infosys could continue to impact other companies in the sector, such as HCLTECH, WIPRO, TECHM, COFORGE, among others. Investors may want to keep an eye on the sector as a whole and assess how these challenges may affect individual companies' performance going forward,” said Om Mehra, Equity Research Analyst at Choice Broking

09:35 (IST) 18 Apr 2023 ICICI Bank shares rise marginally

ICICI Bank shares rose 0.31% to Rs 904.20 after the bank said that it will consider raising funds by issuance of debt securities at its board meeting scheduled on April 22.

09:34 (IST) 18 Apr 2023 Jubilant Foodworks shares gain 2%

Jubilant Foodworks shares rose 2% to Rs 441 after Coca-Cola India purchased a 15% stake in the Domino’s maker’s associate company Hashtag Loyalty for Rs 104.68 crore. The company’s stake was reduced from 35% to 29.75%.

09:32 (IST) 18 Apr 2023 Angel One shares surge nearly 5%

Angel One shares rose 4.5% to Rs 1331.20 after the firm reported a significant increase in its earnings, with profits surging over 30% to Rs 267 crore compared to Rs 205 crore on-year. Additionally, the company’s revenue improved, increasing over 20% to Rs 826 crore from Rs 681 crore on-year. The directors also declared a final dividend of Rs 4 per share.

09:30 (IST) 18 Apr 2023 ZEEL shares gain over 1%

ZEE Entertainment Enterprises shares rose 1.52% to Rs 206.9 after the global investment management fund Invesco, exited the firm completely on Monday. The fund offloaded its remaining 5.11% stake in the company for Rs 1,004 crore, via block deals, after holding nearly 18% in the company till March last year.

09:24 (IST) 18 Apr 2023 Top gainers/losers

The top gainers on Nifty 50 were Tata Motors, HDFC Life, HCL Tech, Adani Enterprises and Adani Ports while the top losers were Cipla, Hero Motocorp, Sun Pharma, Bajaj Auto and Apollo Hospital.  

09:24 (IST) 18 Apr 2023 Bank Nifty jumps above 42350

Bank Nifty jumped 106.55 pts or 0.25% to 42,369.10.

09:23 (IST) 18 Apr 2023 Nifty, Sensex open in green

The NSE Nifty 50 rose 35 pts or 0.2% to 17,741.85 and BSE Sensex climbed 114.89 pts or 0.19% to 60025.64.

09:13 (IST) 18 Apr 2023 Nifty vertical rise less anticipated

“Slippages stopped at the 200DMA yesterday, suggesting that bargain hunting is prepared to surface at the earliest available pivot of significance, retaining the upside hopes. A vertical rise is less anticipated though, and 17700 could see buyers becoming reluctant again. Expect another period of consolidation without breaching 17500 to encourage bulls to regroup. For the day, we would also look for a direct rise above 17740 or a turn from 17500 to play a 17870-976 move,” said Anand James – Chief Market Strategist at Geojit Financial Services.

09:11 (IST) 18 Apr 2023 Stock-specific actions cutting across sectors likely in response to Q4 results

“The important near-term question in the market now is whether Nifty can recover from the 121-point cut yesterday and resumption of FII selling. It is important to appreciate the fact that the market was dragged down by the IT pack with Infosys alone contributing 138 points to the cut in Nifty. This means, if we exclude the IT segment the market is resilient. An important likely consequence of the expected disappointing results of the IT stocks in FY 24 is the inevitable sectoral rotation that is already underway. Since the prospects of banking, FMCG, construction, pharma and capital goods appear good, money is likely to move into these segments. This sectoral rotation will give profitable investment opportunities. Also, lots of stock-specific actions cutting across sectors are likely in response to the Q4 results and commentary,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

09:08 (IST) 18 Apr 2023 To move towards 17850-18000, Nifty must remain above the 17650-17700

“The Indian market benchmarks are expected to open flat or slightly lower today, as the SGX Nifty trends imply a somewhat bearish opening for the broader index. On the daily scale, the Nifty developed a long red candle with a lower shadow on Monday, This could be a short-term market reversal to the negative. Option data implies a shift in the trading range between 17400 and 18000 zones, as well as a shift in the immediate trading range between 17500 and 17850. To extend the move towards 17850 and 18000, Nifty must remain above the 17650-17700 zones, while supports exist at 17600 and 17500,” said Ameya Ranadive, Equity Research Analyst at Choice Broking.

08:58 (IST) 18 Apr 2023 Weakness in Asian markets to dampen local market sentiment

“Weakness in most of the Asian indices and SGX Nifty is likely to dampen local market sentiment in early Tuesday trade even as key US gauges rebounded sharply overnight. While one cannot rule out the overall mood to remain choppy after yesterday's slump, IT stocks could be in the spotlight once again given the dismal earnings performance from frontline IT companies and challenges going ahead in view of a likely recessionary trend in their key US and European markets. Technically, Nifty is likely to trade volatile and choppy with biggest support to watch out for is at its 200 DMA at 17568 mark, while the biggest hurdle is seen at 17863 mark. Traders can start aggressive buying above the 17863 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

08:57 (IST) 18 Apr 2023 Bank Nifty in breakout zone for 42600–43000 levels

“Bank Nifty took resistance at 42500 to 42600 on the back of profit booking in HDFC Bank after a positive opening. Bank Nifty took support at 41800 on the back of the good performance of PSU Banks. As per the current closing index, it is still in the breakout zone for 42600/43000 levels, Downside support stands at 42000-41800,” said Rupak De, Senior Technical Analyst at LKP Securities.

Share Market Outlook Today

08:56 (IST) 18 Apr 2023 Bank Nifty resistance placed at 42800

“Bank Nifty has support at the 41600 zone while resistance is placed at 42800. The long-term investor may opt for selective mid-cap and small-cap stocks in addition to large-cap, which currently looks appealing,” said Om Mehra, Equity Research Analyst at Choice Broking.

Share Market Outlook Today

08:56 (IST) 18 Apr 2023 Bank Nifty first support at 41894 and then 41485

Bank Nifty fresh longs above 42300 and 42500. Bank Nifty first support at 41894 and then 41485 while resistance at 42675 and 43049, according to Rahul Sharma, JM Financial.

Share Market Outlook Today

08:55 (IST) 18 Apr 2023 Nifty to target levels of 18000

“On the daily charts, we can observe that Nifty has faced resistance at 17850 – 17870 which coincides with the 50% Fibonacci retracement level (17858) of the fall from 18888 – 16828. We believe that the uptrend is still intact, and this dip should be used as a buying opportunity. In terms of levels, 17860 – 17900 is the immediate hurdle while 17560 – 17500 shall act as crucial support from a short-term perspective.  On the upside we expect the Nifty to target levels of 18000,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.

Share Market Outlook Today

08:55 (IST) 18 Apr 2023 Nifty can rally till 18000-18080 if it sustains 17865

“If Nifty sustains 17865 levels we can expect a rally till 18000-18080 levels. Coming to the OI Data, on the call side, the highest OI was observed at 17800 followed by an 18000 strike price while on the put side, the highest OI was at 17600 followed by a 17500 strike price,” said Om Mehra, Equity Research Analyst at Choice Broking.

Share Market Outlook Today

08:55 (IST) 18 Apr 2023 Nifty may fall towards 17400 if it breaches 17550

“Over the near term, the Nifty trend is likely to remain sideways, as, after a rally of 900 points, buyers at 17000 would want to take some profits. On the lower end, support lies at 17550, below which the index may fall towards 17400. On the higher end, 17800 is likely to remain resistance for the Nifty,” said Rupak De, Senior Technical Analyst at LKP Securities.

Share Market Outlook Today

08:54 (IST) 18 Apr 2023 Nifty immediate resistance seen at 17800 – 17900

“We sense prices may see some consolidation in the near term before the next leg of the run and hence the apt strategy would be to buy on dips and book profit at higher levels. As far as levels are concerned, we see Nifty’s sacrosanct support in the zone of 17500 – 17550, whereas 17800 – 17900 seems to be an immediate resistance zone,” said Rajesh Bhosale, Technical Analyst at Angel One Ltd.

Share Market Outlook Today

08:54 (IST) 18 Apr 2023 Nifty first support at 17650 and then 17574

“Inspite of the sharp sell-off in IT stocks, markets recovered after the morning shock with stark outperformance seen in PSU Banks. Nifty remains bullish above 17750 and bearish below 17650. Nifty first support at 17650 and then 17574 while resistance at 17750 and 17840,” said Rahul Sharma, JM Financial.

Share Market Outlook Today

08:05 (IST) 18 Apr 2023 US indices end in green

The US market ended the overnight session in green – Dow Jones Industrial Average (DJIA) rose 0.30%, S&P 500 climbed 0.33% and the tech-heavy Nasdaq jumped 0.28%.

08:05 (IST) 18 Apr 2023 Asian markets in red

Asian markets were trading mostly in red with China’s Shanghai Composite Index dipping 0.08%, Hong Kong’s Hang Seng dropping 0.47%, South Korea’s KOSPI falling 0.29%, and Japan’s Nikkei 225 rising 0.52%.

08:04 (IST) 18 Apr 2023 SGX Nifty in red

The Nifty futures on the Singapore Exchange (SGX) were trading 33 points or 0.19% lower at 17,730 in the early morning trade.