22 Jul , 2022 By : Monika Singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian indices opened on a positive note oy above 16650. The Sensex was up 248.37 points or 0.45% at 55930.32, and the Nifty was up 74.10 points or 0.45% at 16679.40. The broader markets also opened in green. The BSE MidCap and SmallCap indices were up to 0.5%. Ultratech Cement, Tata Steel, Nestle, Tech M, M&M, Kotak Bank, Asian Paints, SBI and HDFC were the top gainers on the Sensex, while L&T and Infosys were the sole losers. Reliance Industries share rose ahead of its quarterly results.
Reliance Industries will announce its fiscal first-quarter results today. Mukesh Ambani-led oil-to-telecom conglomerate is expected to have continued its robust growth in the April-June quarter, this time helped by stronger refining profitability, better telecom ARPU, and growth in the retail segment. Domestic brokerage firms across Dalal Street have pinned net profit targets for the conglomerate in the range of Rs 23000-27909 crore, which would see RIL at least double its profits from the year-ago period.
Technically, the impeccable move in the entire week has placed our market above all the major exponential moving averages on the daily time frame. Though from the past two consecutive sessions, the index is showcasing some lackluster moves that might attract some profit booking in the near period. However, the undertone is set in favor of the bulls, and any minor correction could be seen as an opportunity to go long in the index. As far as levels are concerned, the previous swing high of 16800 odd zone is expected to act as an immediate hurdle for the index. On the contrary, the recent unfilled gap of 16360-16490 is expected to provide a cushion for any minor correction.
Benchmark indices erased some of the opening gains but still trading marginally higher. The Sensex was up 83.08 points or 0.15% at 55765.03, and the Nifty was up 28.20 points or 0.17% at 16633.50.
Nifty Bank index gained nearly 1 per cent, led by the Kotak Mahindra Bank, HDFC Bank, Bank of Baroda
UPL, Kotak Mahindra Bank, Nestle India, Hindalco Industries, M&M were among major gainers on the Nifty, while losers were Infosys, ONGC, L&T and Apollo Hospitals.
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