27 Oct , 2022 By : Monika Singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian share market opened on a positive note amid mixed global cues. Benchmark index NSE Nifty 50 climbed over 100 points to trade above 17,750 levels and BSE Sensex advanced over 300 points to trade at 59,891 levels. The broader markets rose in tandem as Nifty MidCap 100 and Nifty SmallCap 100 rose over 0.3?ch. All sectors were trading in the green as Nifty Metal index led the charge, rising over 1% in trade. JSW Steel, Hindalco Industries, Kotak Mahindra Bank, HDFC and Tata Steel were among the major Nifty gainers, while NTPC, Infosys, ONGC, Power Grid Corporation and HDFC Life were the laggards.
“There is a near-term under current of ‘risk-on’ in equity markets globally triggered by expectations that the central banks will start moderating their rate hikes. The cue has come from Canada where their central bank raised rates only by 50 bp against expectations of 75 bp. Markets expect the Fed to moderate rate hikes starting December. Consequently, the dollar index has fallen below 110, and the 10-year US bond yield has dipped to 4.03%. This might nudge FPIs to turn buyers imparting strength to the market. Nifty’s recent range of 17,500-17,800 looks set to be decisively broken on the upper end today.”
“Inspite of big moves in SGX Nifty, bearish view is intact as long as 17,864 holds in November Futures. Maintain SL. 17,800 Calls have witnessed addition of 80k contracts in first fifteen minutes of trade- so ideally, 17,800 spot should be tough to take out today,”
JSW Steel, Hindalco Industries, Kotak Mahindra Bank, HDFC and Tata Steel were among the major Nifty gainers, while NTPC, Infosys, ONGC, Power Grid Corporation and HDFC Life were the laggards.
“On Tuesday, the Nifty opened higher but witnessed profit booking from higher levels and closed with a loss of 0.42%. For the day, the SGX Nifty suggests the Nifty opening a tad below 17900 levels. If the Nifty manages to sustain above 17900, then we may see a move towards 18050 level. The Bank Nifty also witnessed profit booking and corrected more than 400 points from the day’s high. For the day, the Bank Nifty is likely to open higher in line with the Nifty. In recent days, the Bank Nifty outperformed. Going ahead, we expect the same to continue. The index is likely to test its sizeable Call base of 42000.”
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