May 5, 2023
Share Market Highlights: Nifty closes above 17850, Sensex gains 300 pts; Bank Nifty, IT rise, Paytm shares surge 15%
Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian equity indices surged on Wednesday after RBI MPC raised the key interest rate by 25 basis points, taking the repo rate to 6.5%. The rate hike was in line with market expectations. The Nifty closed above 17850 and Sensex settled above 60650. The BSE Sensex rose 377.75 points or 0.63% to 60,663.79 and NSE Nifty 50 jumped 150.20 pts or 0.85% to 17,871.70. The top gainers of the Adani Enterprises, Adani Ports, HDFC Life, SBI Life and Bajaj Finance while the losers were Larsen & Toubro, Eicher Motors, Hero Motocorp, Axis Bank and Hindustan Unilever Ltd.
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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights Wednesday 8 February
15:47 (IST) 8 Feb 2023 Top gainers/losers
The top gainers of the Adani Enterprises, Adani Ports, HDFC Life, SBI Life and Bajaj Finance while the losers were Larsen & Toubro, Eicher Motors, Hero Motocorp, Axis Bank and Hindustan Unilever Ltd.
15:44 (IST) 8 Feb 2023 Nifty, Sensex end in green
The BSE Sensex rose 377.75 points or 0.63% to 60,663.79 and NSE Nifty 50 jumped 150.20 pts or 0.85% to 17,871.70.
15:29 (IST) 8 Feb 2023 Adani Wilmar shares rise 5%
Adani Wilmar shares were locked in the upper circuit, rising 5% to Rs 419.35 after the company’s Q3FY23 consolidated net profit jumped 16% on-year to Rs 246 crore.
15:27 (IST) 8 Feb 2023 Paytm shares surge 15% after Q3 revenue rises 42%
Paytm share rose 15.88% to Rs 682.85 after the company reported a revenue of Rs 2,062 crore in Q3FY23, up 42% on-year, while the firm’s contribution profit was up 131% on-year at Rs 1,048 crore.
13:37 (IST) 8 Feb 2023 Nifty’s crucial support level seen at 17650, Bank Nifty’s placed at 41000
“The market is in a range where the 20-DMA is acting as a key hurdle for both Nifty and Banknifty. 17880 is the 20-day moving average for the Nifty, while 41800 is the 20-day moving average for the Banknifty. We are again seeing selling pressure from these levels, and Nifty and Banknifty both have to cross their 20-DMA for any short-covering rally. On the downside, 17650 and 41000 are important support levels for Nifty and Banknifty, respectively.” – Santosh Meena, Head of Research, Swastika Investmart Ltd.
13:23 (IST) 8 Feb 2023 Nifty outlook following RBI MPC meeting
“Nifty continued to oscillate in the broad horizontal band of 17,350 to 18,150 with a sideways to higher tendency. Prices witnessed a sharp rebound from the vicinity of 200-day SMA last week, making that area stiff to be taken out. As ongoing sentiments are still moderately bullish, every fall close to 17,500-17,400 will accompany fresh buying. However, a sustainable fall below 17,350-17,300 can be seen as a short-term bearish reversal for 16,900-16,800. On the upside, 18,150-18,270 will act as an immediate supply zone, which if broken decisively will extend such advance for 18,450 and then 18,650.”
– Palka Arora Chopra, Senior Vice President, mastertrust.
10:30 (IST) 8 Feb 2023 Bank Nifty rises over 100 pts
Banking stocks surged 140 pts or 0.34% to 41,631.65 as RBI Governor Shaktikanta Das announced a 25 bps interest rate hike. The index’s top gainers are the State Bank of India, Punjab National Bank, ICICI Bank, HDFC Bank and Bandhan Bank while Kotak Bank, Bank of Baroda and AU Bank were the laggards.
10:10 (IST) 8 Feb 2023 Sensex surges 500 pts, Nifty above 17850
The BSE Sensex surges 497.63 pts or 0.83% to 60,783.67 and NSE Nifty 50 rose 144.45 pts or 0.82% to 17,865.95 as RBI MPC decided to raise the current repo rate by 25 bps from 6.25% to 6.5%. Decided by 4:2 majority.
10:00 (IST) 8 Feb 2023 Nothing new in Fed chiefs speech
“Fed Chief Powell has simply reiterated that fact which the market already knows. He has mentioned that the further course of interest rates will be data-dependent. Jobs report and inflation are the two main deciding factors for interest rates. Job market is still overheated but inflation is on its way down and I expect it to be significantly lower in second half of the year. Fed Chief has tried to maintain a hawkish tone but the market has already factored in that a peak in interest rates coming soon,” said Apurva Sheth, Head of Market Perspectives & Research, SAMCO Securities.
09:32 (IST) 8 Feb 2023 Top gainers/losers
The top gainers on the Nifty are Adani Enterprises, Adani Ports, UltraTech Cement, Hindalco and SBI Life while the top losers are Bharti Airtel, Eicher Motors, Hero MotoCorp, Maruti and Bajaj Auto.
09:26 (IST) 8 Feb 2023 Sensex, Nifty open in green
The NSE Nifty 50 rose 66.85 points or 0.38% to 17,788.35. The BSE Sensex climbed 220.75 pts or 0.37% to 60,506.79.
09:16 (IST) 8 Feb 2023 Sensex, Nifty end pre-open in green
Markets end pre-open in green. The NSE Nifty 50 ended 28.80 or 0.16% higher at 17,750.30. The BSE Sensex rose 46.95 pts or 0.08% to 60,332.99.
08:35 (IST) 8 Feb 2023 US market concludes in green
The US equity indices ended the overnight session in green. The Dow Jones Industrial Average rose 265.67 or 0.78% to 34,156.69, S&P 500 rose 52.92 pts or 1.29% to 4,164.00 and Nasdaq Composite Index rose 226.34 or 1.90% to 12,113.79.
08:30 (IST) 8 Feb 2023 Asian markets trade mixed
Asian markets were trading mixed in the early morning trade on Wednesday. Japan’s Nikkei 225 fell 142 pts or 0.51% to 27,543.39, China’s Shanghai Composite index rose 1.08 pts or 0.03% to 3,249.17, Hong Kong’s Hang Seng rose 27.61 pts or 0.16% to 21,326.31 and South Korea’s KOSPI rose 30.08 pts or 1.23% to 2,481.79.
08:23 (IST) 8 Feb 2023 Bank Nifty undertone remains bearish; investors should keep buy-on-dip approach
“The BANK NIFTY index continued to trade in a broad range ahead of the RBI policy wherein 41,000 is a support and 42,000 is a resistance. The index needs to break this range on either side decisively for trending moves. The undertone remains bearish within the range and once should keep a buy-on-dip approach.” – Kunal Shah, Senior Technical Analyst at LKP Securities.
08:22 (IST) 8 Feb 2023 Nifty support seen at 17,600, if breached will lead towards 17,450-17,400
“The Nifty index faces stiff resistance around the 17,800-17,850 zone where aggressive call writing is visible. The index needs to surpass this level on a closing basis to witness a short covering move toward the 18,200 level. The support on the lower end is at the 17,600 level and if breached will lead to a further correction towards 17,450-17,400 levels.” – Rupak De, Senior Technical Analyst at LKP Securities.
08:20 (IST) 8 Feb 2023 Nifty trend continue to remain sideways within 17500-18000
“The Indian market ended on the negative side as a lack of optimism around the global indices prevails. Investors would lookout for significant occurrences this week. For the time being, the trend may continue to be sideways within the 17500-18000 range. The directional movement would be continued after breaking this level. Technically, the Nifty has struggled to hold 17800 levels; however intraday upswing would be anticipated in the upcoming days. RSI and MACD indicate a neutral view currently. OI Data indicates, on the call side the highest OI was witnessed at 18000 followed by 178000 strike prices while on the put side, the highest OI was at 17500 strike price. Nifty Put Call Ratio stands at 0.82. On the other hand, Bank nifty has support at 40900 levels while resistance is placed at 42200 levels. To combat the opening with gaps, it is advised that traders should work with option strategies.” – Om Mehra, Equity Research Analyst at Choice Broking.
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