Share Market LIVE: Sensex jumps 300 pts, reclaims 57000, Nifty nears 17200; Reliance, HUL top gainers

28 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 nearly half a per cent higher on Thursday, a day of weekly and monthly F&O expiry of April contracts. BSE Sensex reclaimed 57000, while NSE Nifty 50 index was nearing 17200 levels. Hindustan Unilever, Sun Pharma, Infosys, Asian Paints, Dr Reddy’s, Reliance Industries were among top BSE Sensex gainers. HCL Tech, Bharti Airtel, HDFC Bank, TCS, Titan Company were among Sensex laggards. Bank Nifty index was up 0.2 per cent.

A clear trend in markets now, in developed markets as well as in India, is the preference for value stocks over high-priced growth stocks. This is partly a reflection of risk aversion among investors in the present context of mounting challenges posed by the expected aggressive tightening by the Fed and the uncertainties arising from the Ukraine war that is getting prolonged. Dollar index at 103 indicates flight to safety and this implies that FPIs will continue to sell in this market. Sell on rallies is likely to be the texture of this market in the near term. Long-term investors who can ignore short-term gyrations in the market can buy high quality stocks in banking and IT which are depressed due to FPI selling.

HCL Tech, Bharti Airtel, HDFC Bank, TCS, Titan Company were among Sensex laggards.

Hindustan Unilever, Sun Pharma, Infosys, Asian Paints, Dr Reddy's, Reliance Industries were among top BSE Sensex gainers.

BSE Sensex jumped over 300 points to reclaim 57000, while NSE Nifty 50 index was nearing 17200 levels

Markets may log steady gains in early trades but volatility is likely to ride high amidst April F&O expiry. The inflation genie needs to be back into the bottle for the bulls to survive and prosper. Technically speaking, bears may turn bulls only if Nifty reclaims its 200 DMA at 17213 mark. Also, India VIX, which measures the expected volatility in the market, moved up to 20.61 levels in yesterday’s trade. The April series suggests Nifty is likely to be in a trading range of 16500-17500 zone. Maximum Call OI is at 17500 followed by 17300 strike price. So, the 17500 mark will be Nifty’s crucial resistance zone. Maximum Put open interest stands at 17000 levels followed by 16400 levels.