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Share Market News Highlights: Sensex tanks 519 points, Nifty barely holds 18,150; Adani Ports, TechM, Hero MotoCorp, among top drags

Business Today Desk Nov 21, 2022, Updated Nov 21, 2022, 5:12 PM IST

Stock Market News Highlights: Sensex and Nifty fell sharply on Monday, extending their fall for the third straight session amid a decline in Asian equities due to fresh Covid-19 restrictions in China and fears of an extended US Federal Reserve tightening cycle.

Share Market News Today Updates, 21 November 2022: Trends on SGX Nifty indicated a lower opening for the domestic markets. Share Market News Today Updates, 21 November 2022: Trends on SGX Nifty indicated a lower opening for the domestic markets.

Share Market Updates Today: Indian equity benchmarks fell sharply on Monday, extending their fall for the third straight session amid a decline in Asian equities due to fresh Covid-19 restrictions in China and fears of an extended US Federal Reserve tightening cycle. South Korea's KOSPI moved 1.02 per cent down, the Shanghai Composite index fell 0.39 per cent and Hong Kong's Hang Seng Index slipped 1.77 per cent, while Japan's Nikkei edged 0.16 per cent higher. US stock futures fell, indicating a lower opening for Wall Street later today. S&P futures fell 0.45 per cent, Nasdaq futures moved 0.69 per cent lower and Dow Futures slipped 0.23 per cent. Back home, foreign institutional investors sold Rs 751 crore worth of equities on Friday, while domestic investors bought Rs 890 crore of shares, as per provisional NSE data. PNB, Bank of Maharashtra, UCO Bank, Zomato, Central Bank of India, EaseMyTrip, IOB, IRFC, Yes Bank and HCC were among the most active stock today, in terms of volumes.

 

Here are the share market highlights:

5:12 PM (1 week ago)

Bank Nifty view - Kunal Shah, Senior Technical Analyst at LKP Securities

Posted by :- prashun talukdar

The Bank Nifty continued to witness a tug-of-war between the bulls and the bears and the index formed a Doji candle on the daily chart. The index lower-end support stands at 42000 where the higher open interest is built up on the put side which will act as a line of defense for the bulls. The bears are forming a grip around the 42,500-42,600 zone and if breached on the upside will lead to a sharp short covering move towards 43,500-44,000 levels.

4:59 PM (1 week ago)

Stocks at one-year lows: 11 BSE 500 stocks hit 52-week lows

Posted by :- prashun talukdar

BSE 500 stocks such as Bandhan Bank, Delhivery, GlaxosmithKline Pharmaceuticals Ltd, IndiGo Paints, Motilal Oswal Financial Services, Quess Corp, Sanofi, SIS Ltd, Sona BLW Precision Forgings Ltd, Sudarshan Chemical and Voltas hit their 52-week lows today.

4:48 PM (1 week ago)

Expert view - Vinod Nair, Head of Research at Geojit Financial Services

Posted by :- prashun talukdar

The sharp decline in crude prices is a huge positive for the domestic economy. However, the market did not respond favourably due to stronger headwinds from the global market. The prospect of a prolonged tightening cycle by the US Federal Reserve and the Chinese Covid restrictions affected the world market. Along with other major sectors, metal stocks traded with cuts despite the government's decision to remove export duty on iron and steel.

4:00 PM (1 week ago)

Stocks at one-year highs: 14 BSE 500 stocks hit 52-week highs

Posted by :- prashun talukdar

BSE 500 stocks such as Bank of India, Bharti Airtel, Central Bank of India, Escorts, Great Eastern Shipping Co, IIFL, Indian Bank, JB Chemicals & Pharma, Bank of Maharashtra, PNB, Punjab & Sind Bank, Timken, UCO Bank and Union Bank hit their 52-week highs today.

3:53 PM (1 week ago)

Nifty tech view - Rupak De, Senior Technical Analyst at LKP Securities

Posted by :- prashun talukdar

The trend looks a bit weak with a rounding top formation on the daily timeframe. The bearish crossover in RSI with a negative divergence suggests weak momentum. Going forward, 18,100 may provide immediate support below which the index may drift down towards 17,750. On the higher end, resistance is visible at 18,200/18,450.

3:52 PM (1 week ago)

Share market breadth

Posted by :- prashun talukdar

The overall market breadth stood negative as 1,517 shares advanced while 2,077 declined on BSE. The market capitalization (m-cap) of BSE-listed companies stood at Rs 280.91 lakh crore.

3:51 PM (1 week ago)

Nifty IT, Nifty Auto and Nifty Financial Services underperform

Posted by :- prashun talukdar

12 out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the red. Sub-indexes Nifty IT, Nifty Financial Services and Nifty Auto underperformed the NSE platform by falling as much as 1.55 per cent, 0.64 per cent and 0.62 per cent, respectively. In contrast, Nifty PSU Bank climbed 1.41 per cent.

3:49 PM (1 week ago)

Mid and small-cap stocks

Posted by :- prashun talukdar

Mid- and small-cap shares finished on a mixed note as Nifty Midcap 100 shed 0.05 per cent and small-cap rose 0.24 per cent.

3:37 PM (1 week ago)

Top gainers & losers on NSE

Posted by :- prashun talukdar

On the stock-specific front, Adani Ports was the top Nifty loser as the stock cracked 2.13 per cent to close at Rs 870. Tech Mahindra, Hero MotoCorp, Hindalco, and Reliance Industries were also among the laggards. In contrast, BPCL, Airtel, Axis Bank, IndusInd Bank and Hindustan Unilever were among the top gainers.

3:35 PM (1 week ago)

Share market closing: Sensex, Nifty fall sharply

Posted by :- prashun talukdar

Sensex tanks 519 points or 0.84 per cent to close at 61,145, Nifty moves 148 points or 0.81 per cent lower to trade at 18,160

2:59 PM (1 week ago)

Reliance Industries down nearly 2%

Posted by :- prashun talukdar

Shares of Reliance Industries fell 1.83 per cent to trade at Rs 2,550. The stock hit a day low of Rs 2,543. A total of 91,000 shares changed hands today amounting to a turnover of Rs 23.21 crore on BSE. The company's market capitalisation (m-cap) stood at Rs 17,25,170.36 crore.

2:33 PM (1 week ago)

Share market update

Posted by :- prashun talukdar

Sensex dives 564 points or 0.92 per cent to trade at 61,099, Nifty moves 164 points or 0.90 per cent lower to trade at 18,144; Bajaj Finance, Reliance, JSW Steel, Adani Ports, Hindalco among top drags

2:03 PM (1 week ago)

CAMS shares edge higher

Posted by :- prashun talukdar

Shares of Computer Age Management Services Ltd inched 0.07 per cent higher to trade at Rs 2,296 after slipping in early deals. The stock hit a day high of Rs 2,311.15. A total of 7,979 shares changed hands today amounting to a turnover of Rs 1.83 crore. The company's market capitalisation (m-cap) stood at Rs 11,239.87 crore.

1:20 PM (1 week ago)

Star Health and Allied Insurance Company Ltd up 2%

Posted by :- prashun talukdar

Shares of Star Health and Allied Insurance Company Ltd rose 2.28 per cent to trade at Rs 616.35. The stock hit a day high of Rs 619.85. A total of 12,000 shares changed hands today amounting to a turnover of Rs 72.88 crore on BSE. The company's market capitalisation (m-cap) stood at Rs 35,679.26 crore.

1:17 PM (1 week ago)

UCO Bank zooms 14.5%

Posted by :- prashun talukdar

Shares of UCO Bank jumped 14.54 per cent to trade at Rs 18.04. The stock hit a day high of Rs 18.85. A total of 147.31 lakh shares changed hands today amounting to a turnover of Rs 25.83 crore on BSE. The company's market capitalisation (m-cap) stood at Rs 21,389.21 crore.

12:58 PM (1 week ago)

IEX shares jump 5%

Posted by :- prashun talukdar

Shares of Indian Energy Exchange Ltd (IEX) jumped 5.60 per cent to trade at Rs 146.15. The stock hit a day high of Rs 146.15. A total of 5.46 lakh shares changed hands today amounting to a turnover of Rs 7.86 crore on BSE. The company's market capitalisation (m-cap) stood at Rs 13,021.72 crore. (Read more)

12:53 PM (1 week ago)

Mazagon Dock Shipbuilders Ltd shares down 5%

Posted by :- prashun talukdar

Shares of Mazagon Dock Shipbuilders Ltd slumped 5.17 per cent to trade at Rs 777.75. The stock hit a day low of Rs 772.50. A total of 2.12 lakh shares changed hands today amounting to a turnover of Rs 16.60 crore. The company's market capitalisation (m-cap) stood at Rs 15,686.44 crore.

12:43 PM (1 week ago)

HEG: Buy, sell or hold

Posted by :- prashun talukdar

The share price of HEG has generated a breakout above a falling channel containing last three months decline signalling end of corrective phase and resumption of the up move thus offers fresh entry opportunity. The breakout is supported by strong volume of more than five times its 50 days average volume of 2 lakhs share per day, highlighting larger participation at the breakout area. The stock may maintain positive bias and head towards Rs 1,138 level in the coming weeks, which is  being the 50 per cent retracement of the August-November decline of Rs 1,378-956.  Among the oscillators the daily 14-period RSI in seen rebounding from the oversold territory and is seen sustaining above its nine periods average, thus validates positive bias. The holding period is two weeks.

 

(ICICIdirect)

12:42 PM (1 week ago)

IIFL Finance: Buy, sell or hold?

Posted by :- prashun talukdar

On the weekly time frame the stock has decisively broken out above multiple-year high from 2018, which is placed at Rs 418 level. The breakout is accompanied with an increase in volume, confirming participation at breakout level. The stock is well-placed above 20-, 50-, 100- and 200-day averages, indicating positive momentum. The weekly strength indicator RSI is holding above a reading of 50-mark and its reference line indicates positive momentum. The analysis indicates an upside of Rs 505-525 levels. The holding period is 3-4 weeks.

 

(Rajesh Palviya, head of technical & derivative research at Axis Securities)

12:33 PM (1 week ago)

Avanti Feeds Ltd shares crack 5%

Posted by :- prashun talukdar

Shares of Avanti Feeds Ltd dived 5.33 per cent to trade at Rs 402.20. The stock hit a day low of Rs 401.15. A total of 45,000 shares changed hands today amounting to a turnover of Rs 1.84 crore. The company's market capitalisation (m-cap) stood at Rs 5,477.07 crore.