Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed in the negative territory. The NSE Nifty 50 closed 331 points or 1.53% lower to settle at 21,240.80, while the BSE Sensex lost 1,019.27 points or 1.43% to settle at 70,404.80. The broader indices closed in the red, with loss led by midcap and smallcap stocks. Bank Nifty index closed lower and shed 1,467.70 points or 3.05% to settle at 46,595.10.
The NSE Nifty 50 closed 1.53% lower at 21,240.80, while the BSE Sensex closed 1.43% lower at 70,404.38.
Cipla, Sun Pharma, Bharti Airtel, ICICI Bank, and Hero MotoCorp were the top gainers in the Nifty 50. While IndusInd Bank, Coal India, ONGC, SBI LIfe Insurance, Adani Ports were the key laggards.
USDINR CMP- 83.09 (spot) “Indian Rupee appreciated on weak crude oil prices and FII inflows. However, weak domestic markets and a strong Dollar capped sharp gains. Overnight decline in commodity prices also supported Rupee at lower levels. US Dollar gained on hawkish Fedspeak and safe haven demand amid escalating geopolitical tensions in the Middle East and Red Sea region. Sharp upside in the greenback was capped on disappointing Empire State Manufacturing Index which fell sharply to -43.7 in January 2024 vs forecast of -4.9. We expect Rupee to trade with a slight negative bias on weak global markets amid escalating geopolitical tensions in the Middle East and hawkish tone of the US Federal Reserve which has trimmed rate cut expectations. However, decline in crude oil prices may support Rupee at lower levels. Traders may remain cautious ahead of US retail sales and industrial production data. USDINR spot price is expected to trade in a range of Rs 82.80 to Rs 83.50,” said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas
Shares of Oberoi Realty declined almost 10% to Rs 1,360.50. On Monday, the company recorded a 49% decline in consolidated net profit to Rs 360.15 crore for the quarter. The company’s total income fell to Rs 1,082.85 crore in the quarter ending December Rs 1,651.50 crore a year ago.
Shares of IndusInd Bank fell 4.2% to Rs 1,471. The stock was among the key losers in the Nifty 50.
Shares of Banks fall. The sectoral-indice Nifty Bank fell 2.1% to 45,089.60.
Cipla, Sun Pharma, Bharti Airtel, Hero MotoCorp, and Power Grid were the top gainers in the Nifty 50. Shares of SBI Life Insurance, IndusInd, Hindustan Unilever, ONGC, and Coal India were the key laggards.
The NSE Nifty 50 fell 150.60 points or 0.70% to 21, 421.20. While the BSE Sensex declined 467.66 or 0.67% to 70,937.84.Come from Sports betting site VPbet
Shares of ZEE Entertainment fell 25% to Rs 173.55, hovers near 52-week low of Rs 170.10.Come from Sports betting site
Shares of ICICI Bank rose 5% to hit new 52-week of Rs 1,059.40. The stock was among the top gainers in the Nifty 50.
Shares of HDFC Bank fell 2.6% to hit 52-week low of Rs 1,440. The stock was among the key losers in the Nifty 50.
Shares of Medi Assist debuted the bourses at Rs 460 and commanded a 11% premium from its opening price of Rs 418.
Shares of Cipla rose 7.8% to hit 52-week high of Rs 1,420. The stock was the top gainers on the Nifty 50.
Shares of ZEE Entertainment Enterprises fell 10% to hit its lower band of Rs 208.30 as soon as the market opened.
The NSE Nifty 50 opened 147.45 points or 0.68% higher at 21,719.25. While the 30-stock BSE Sensex opened 469.72 points or 0.66% higher at 71,893.37.
“The BankNifty index displayed resilience by forming a higher low on the daily chart while maintaining the immediate support zone of 45700-45600. To resume the uptrend, the index needs to overcome the immediate resistance at 46300, a breakthrough that could trigger short-covering, propelling it towards 46500/46800 levels. However, a close below the crucial support of 45600 might instigate a substantial downside correction towards 44000,” said Rupak De, Senior Technical Analyst at LKP Securities.
Commenting on the Technical outlook of Rupak De, Senior Technical Analyst at LKP Securities, said that the Nifty opened higher and remained volatile throughout the day. The overall consolidation phase may persist for the next few days or until the Nifty stays within the range of 21500-21700. Only a decisive breakout on either side could initiate a directional move. A significant decline below 21500 might trigger a correction towards 21300 and below. Conversely, a robust breakout above 21700 is needed for a resumption of the uptrend.
Aditya Birla Fashion and Retail, Balrampur Chini Mills, Delta Corp, Indian Energy Exchange, Indian Railway Corp, National Aluminium, Oracle Financial Services Software, Polycab India, RBL Bank, SAIL, Zee Entertainment.
Foreign institutional investors (FII) offloaded shares worth net Rs 719.31 crore, also domestic institutional investors (DII) sold shares worth net Rs 545.58 crore on January 20, 2024, according to the provisional data available on the NSE.
Shares in the Asia-Pacific region ended Monday’s session in mixed territory. The Asia Dow is trading up by 0.99%, where as the Japan’s Nikkei 225 is trading in green, up by 0.79%, Hong Kong’s Hang Seng index is trading higher by 0.75% and the benchmark Chinese index Shanghai Composite is trading lower by 0.61% during the early trade hours.
WTI crude prices are trading at $74.48 down by 0.37%, while Brent crude prices are trading at $79.86 down by 0.25%, on Tuesday morning.
The US Dollar Index (DXY), which measures the value of the dollar against a basket of six foreign currencies, traded higher by 0.03% at 103.36.
Wall Street rose higher continuing the optimism built after indices were record high. The tech-heavy Nasdaq Composite gained 0.32% at 15,360.29. The S&P 500 surged by 0.22% at 4,850.43 to reach a fresh all-time high, while the Dow Jones Industrial Average ended higher by 138.01 points or 0.36% at 38,001.81.
