Share Market News Today | Sensex Nifty Share Prices Highlights: The benchmark equity indices ended Monday’s trading session in the negative territory. The NSE Nifty 50 dipped 38 points or 0.18% to settled at 21,418.65, while the BSE Sensex dropped 168.65 points or 0.24% to 71,315.10. The broader indices ended mostly in positive territory, with the fall led by Largecap and Midcap stocks. Bank Nifty index ended lower by 275.85 points or 0.57% to settle at 47,867.70. Media and Pharma stocks outperformed among the other sectoral indices while Realty and PSU Bank stocks shed. Bajaj Auto, Hindalco Industries, Sun Pharma, Adani Ports and SEZ, and Reliance were the top gainers on the NSE Nifty 50, while the laggards include Power Grid Cooperation, ITC, Tech Mahindra, ICICI Bank, and JSW Steel. The Indian Volatility Index (India VIX) closed up by 5.88 %.
Bajaj Auto, Hindalco Industries, Sun Pharma, Adani Ports and SEZ, and Reliance were the top gainers on the NSE Nifty 50, while the laggards include Power Grid Cooperation, ITC, Tech Mahindra, ICICI Bank, and JSW Steel.
The NSE Nifty 50 dipped 0.18% to settle at 21,418.65, while the BSE Sensex dropped 0.24% to 71,315.10.
USDINR CMP- 83.35 (spot) “Indian Rupee appreciated on Thursday on weak US Dollar and sharp rise in domestic markets. FII inflows also supported Rupee. India’s WPI rose 0.2% y-o-y in November 2023 vs -0.52% in the previous month and forecast of 0.08%. US Dollar declined by nearly a percent dovish FOMC meeting. Fed kept rates unchanged at 5.25%-5.5% range for the third consecutive meeting. However, it hinted at rate cuts by 75 bps in 2024, leading to expectations of 3 rate cuts. However, he also cautioned that the central bank has kept its option to act again if needed open, as the economy has surprised forecasters. This led to sharp gains in global risk assets. We expect Rupee to trade with a slight positive bias on rise in risk appetite in global markets and a weak US Dollar. FII inflows may also support Rupee. However, positive crude oil prices buying of Dollars by RBI to shore up its forex reserves may cap sharp upside. Traders may take cues retail sales and weekly unemployment claims data. From US. Investors may also watch out for Bank of England and ECB monetary policy. USDINR spot price is expected to trade in a range of Rs 83.00 to Rs 83.70,” said Anuj Choudhary Research Analyst, Sharekhan by BNP Paribas
Bajaj Auto and Eicher Motors lead the gains.
Maruti Suzuki, Tata Motors and Hero MotoCorp in the green
Stock muted in Monday trade. Chairman Sajjan Jindal denies FIR charges by Mumbai woman that accused him of rape. In a statement, Jindal said, “Sajjan Jindal denies the false and baseless allegations. He is committed to providing full cooperation through the investigation.”
“The Bank Nifty bulls maintain their robust momentum, pushing the index beyond the 48000 level. The overall market sentiment remains bullish, supported by a strong base at 47500. Any retracements towards this support level are seen as buying opportunities. The upside potential for the index is projected to reach 50000, indicating continued optimism among market participants,” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.
Sugar stocks up between 6% to 8% on the following news that India to allow diversion of up to 1.7 million tons of sugar for ethanol.
Commenting on the Technical outlook of Rupak De, Senior Technical analyst at LKP Securities, said, The Nifty’s upward momentum persists with the bulls maintaining control in the market. Achieving a new all-time high, the index has marked its seventh consecutive weekly gain. The prevailing sentiment appears strongly in favor of the bulls, as indicated by the absence of any reversal signals on the technical charts. Resistance is observed at 21,500, while a potential further rally in the Nifty could occur upon breaching this level. Support is currently positioned at 21,300.
The NSE has added Indiabulls Housing Finance is out of the F&O Ban list. Manappuram Finance, SAIL, India Cements, Hindustan Copper, Balrampur Chini, Delta Corp, and Zee Entertainment to its F&O ban list for December 18, 2023.
The NSE Nifty 50 opens down by 0.10% to settle at 21,434.80, while the BSE Sensex opened lower by 0.06% at 71,437.35.
The US Dollar Index (DXY), which measures the value of the dollar against a basket of six foreign currencies, traded slight higher by 0.04% at 102.59.
Shares in the Asia-Pacific region are trading in the mixed territory on Monday morning. The Asia Dow is trading up 1.86%, Japan’s Nikkei 225 is red, down 1.06%, Hong Kong’s Hang Seng index is trading up 2.38% and the benchmark Chinese index Shanghai Composite is down by 0.56%.
Foreign institutional investors (FII) added shares worth net Rs 9,239.4 crore, while domestic institutional investors (DII) offloaded shares worth net Rs 3077.4 crore on December 14, 2023, according to the provisional data available on the NSE.
The Dow Jones industrial average hit its first record closing, the S&P 500 and Nasdaq rallied on Friday after dovish signals from the Federal Reserve this week, reported Bloomberg. The tech-heavy Nasdaq Composite gained 52.36 points or 0.35% at 14,813.92. The S&P 500 dipped 8.26 points or 0.18% at 4,711.29, while the Dow Jones Industrial Average ended higher by 56.81 points or 0.15% to 37,305.16.