Share Market LIVE: Sensex flat, Nifty holds 17450, fall in crude oil supports equities; Reliance up, Infy down

01 Apr , 2022 By : monika singh

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading flat, fluctuating between gains and losses on the first day of new financial year 2023. BSE Sensex was hovering around 58,600, while NSE Nifty 50 index managed to hold above 17450. NTPC was the top BSE Sensex gainer, up over 4 per cent, followed by Power Grid Corporation of India, Mahindra & Mahindra (M&M), Bharti Airtel, Tata Steel, and Kotak Mahindra Bank among others. On the flip side, Infosys, HCL Technologies, Titan Company, Nestle India, ICICI Bank, Tech Mahindra, TCS, Housing Development Finance Corporation (HDFC) were among top index draggers. Nifty Bank index was up 0.2 per cent, holding above 36400 levels.

Gold was headed for its biggest quarterly gain since the pandemic-led surge in mid-2020 as concerns over soaring consumer prices and Ukraine crisis bolstered bullion's safe-haven appeal. The tussle between Russia and Ukraine continues as apart from attacks the latter has also commented on stricter sanctions to be levied. Strong retaliation from Ukraine is also increasing is also increasing the distress in the market. Weekly jobless claims data were reported higher supporting the metal prices. Today is very important as market participants will keep an eye on the U.S. non-farm payroll, unemployment data which if reported better than expectations it could put pressure on the metal prices. Broader trend on COMEX could be in the range of $1900-1980 and on domestic front prices could hover in the range of Rs 51,650- 52,500.

On the flip side, Infosys, HCL Technologies, Titan Company, Nestle India, ICICI Bank, Tech Mahindra, TCS, Housing Development Finance Corporation (HDFC) were among top index draggers.

NTPC was the top BSE Sensex gainer, up over 4 per cent, followed by Power Grid Corporation of India, Mahindra & Mahindra (M&M), Bharti Airtel, Tata Steel, and Kotak Mahindra Bank among others.

The eventful March series started on a cautious note amidst geopolitical tensions on Russia Ukraine war. Amidst nervousness in global markets, the index corrected towards the start of the series and almost tested the 15700 mark. The India Vix rose sharply in this period which led to higher volatility and uncertainty. However, we then witnessed a V-shaped recovery from the lows as markets were oversold and traders preferred to cover their shorts. As the markets sustained their gains, implied volatility cooled off and we also saw long formations in Nifty to lead the index higher and end the March series with gains of 7%.

On the technical front 17,200 and 17600 are immediate support and resistance in Nifty 50. For Bank Nifty 35500 and 36800 are immediate support and resistance respectively.