Share Market Updates Today: Indian equity benchmarks traded higher on Tuesday, pausing a three-day losing run led by gains in state-run banks, metal, and IT stocks. UCO Bank, IRFC, Jaiprakash Power Ventures, Yes Bank, PNB, Bank of Maharashtra, Ease My Trip, Central Bank of India, HCC and South Indian Bank were the most active stocks on NSE in terms of volumes. Asian stocks were mixed as Japan's Nikkei index rose 0.61 per cent, South Korea's KOSPI fell 0.59 per cent down, the Shanghai Composite index edged 0.13 per cent higher and Hong Kong's Hang Seng Index slipped 1.31 per cent. US stock futures rose, indicating a slightly higher opening for Wall Street later today. S&P futures rose 0.21 per cent, Nasdaq futures moved 0.20 per cent higher and Dow Futures gained 0.19 per cent. Meanwhile, crude oil prices slipped to their lowest level since early January on a report that Saudi Arabia was holding talks with OPEC allies to raise output. Crude clawed back some of the losses after Saudi Arabia denied the report. India as the world's third-biggest importer benefits from a fall in crude prices, as it brings down imported inflation. Foreign institutional investors sold Rs 1,594 crore worth of equities on Monday, while domestic investors bought Rs 1,263 crore of shares, per provisional NSE data.
Here are the share market highlights:
BSE 500 stocks such as Bank of India, Bharti Airtel, Canara Bank, Castrol India, Central Bank of India, Ease My Trip, Escorts, HAL, IIFL, Indian Bank, IOB, IRFC, Kalpataru Power Transmission, Bank of Maharashtra, PNB, PSB, SKF India, UCO Bank and Union Bank hit their 52-week highs today.
The fight between the bulls and the bears continued in the Bank Nifty index and the day ended on a flat note. The index is on the verge of a breakout which will be triggered above the level of 42,600 on a closing basis. The undertone remains bullish and the support is visible at the 42,200-42,000 zone which will act as a cushion for the bulls. The open interest data suggest 42,000 as a line of defense as the highest open interest is built up on the put side.
BSE 500 stocks such as Avanti Feeds, Bandhan Bank, Delhivery, Indigo Paints, Johnson Controls-Hitachi Air Conditioning India Ltd, Max Financial Services Ltd, Motilal Oswal Financial Services, Mphasis, Paytm, Rossari, Sanofi, Shilpa Medicare, SIS and Sona BLW Precision Forgings Ltd hit their 52-week lows today.
Nifty started flat following global peers and moved up higher by the end of the session. On the higher end, it moved back above 18,200. A bullish harami pattern on the daily chart suggests a recovery in the term. The trend looks sideways to positive. Going forward, 18,200 may provide immediate support below which the index may drift down towards 18,100. On the higher end, resistance is visible at 18,300/18,450.
After three days of risk aversion, the domestic market experienced a relief rally in response to a bullish trend in global markets. The tight Covid lockdown in China, however, has negatively impacted the forecast for global growth. FII interest has also reduced significantly as a result of the increased likelihood of stricter Fed policies.
The overall market breadth stood negative as 1,636 shares advanced while 1,809 declined on BSE. The market capitalization (m-cap) of BSE-listed companies stood at Rs 281.62 lakh crore.
14 out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the green. Sub-indexes Nifty PSU Bank, Nifty Metal and Nifty IT outperformed the NSE platform by rising as much as 1.66 per cent, 0.89 per cent and 0.81 per cent, respectively. In contrast, Nifty Realty slipped 1.22 per cent.
Mid- and small-cap shares finished on a higher note as Nifty Midcap 100 rose 0.55 per cent and small-cap edged 0.03 per cent higher.
The crucial support level for the market (Nifty) continues to remain at the psychological level of 18,000-18,040, said Tirthankar Das, Technical & Derivative Analyst, Retail, Ashika Stock Broking Ltd.
The bulls showed their comeback in the last half hour and snapped the losing momentum of the past three days. Nifty concluded near the day's high, procuring nearly half a percent, and settled a tad below the 18,250 level. Technically, there has been no substantial change in the market outlook as the bulls firmly withheld their support zone and showed their presence by the fag end.
On the stock-specific front, IndusInd Bank was the top Nifty gainers as the stock soared 2.93 per cent to close at Rs 1,172.40. NTPC, JSW Steel, HDFC Life and UltraTech Cement were also among the gainers. In contrast, BPCL, Nestle India, Bharti Airtel, PowerGrid and Kotak Mahindra Bank were among the top losers.
Sensex rises 274 points or 0.45 per cent to close at 61,419, Nifty moves 84 points or 0.46 per cent higher to settle at 18,244
Shares of Mazagon Dock Shipbuilders Ltd zoomed 11.61 per cent to trade at Rs 864.05. The stock touched a day high of Rs 877 on BSE. Around 7.68 lakh shares changed hands today amounting to a turnover of Rs 62.67 crore. The company's market capitalisation (m-cap) stood at Rs 17,427.02 crore.
Shares of Garden Reach Shipbuilders & Engineers Ltd surged 8.31 per cent to trade at Rs 514.10. The stock touched a day high of Rs 518.95 on BSE. Around 1.20 lakh shares changed hands today amounting to a turnover of Rs 5.96 crore. The company's market capitalisation (m-cap) stood at Rs 5,889.12 crore.
Shares of Hindustan Foods Ltd surged 5.16 per cent to trade at Rs 629.95. The stock touched a day high of Rs 629.95 on BSE. Around 10,000 shares changed hands today amounting to a turnover of Rs 62.19 lakh. The company's market capitalisation (m-cap) stood at Rs 7,059.95 crore.
Shares of Titan Company Ltd climbed 1 per cent to trade at Rs 2,599.40. The stock touched a day high of Rs 2,602 on BSE. Around 19,000 shares changed hands today amounting to a turnover of Rs 4.82 crore. The company's market capitalisation (m-cap) stood at Rs 2,30,771.13 crore.
Shares of UltraTech Cement rose 1.53 per cent to trade at Rs 6,854.20. The stock touched a day high of Rs 6,915.40 on BSE. Around 21,000 shares changed hands today amounting to a turnover of Rs 14.04 crore. The company's market capitalisation (m-cap) stood at Rs 1,97,865.31 crore.
Shares of IndusInd Bank rose 2 per cent to trade at Rs 1,162.30. The stock touched a day high of Rs 1,166.65 on BSE. Around 1.16 lakh shares changed hands today amounting to a turnover of Rs 13.39 crore. The company's market capitalisation (m-cap) stood at Rs 90,118.38 crore.
Sensex rises 154 points or 0.25 per cent to trade at 61,299, Nifty moves 45 points or 0.25 per cent higher to trade at 18,205; IndusInd Bank, UltraTech Cement, Adani Ports, Divi's Lab, Britannia among top gainers
Shares of Vakrangee Ltd plunged 7.92 per cent to trade at Rs 28.50. The stock touched a day low of Rs 28.40 on BSE. Around 11.54 lakh shares changed hands today amounting to a turnover of Rs 3.42 crore. The company's market capitalisation (m-cap) stood at Rs 3,030.17 crore.
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