18 Jul , 2022 By : Monika Singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Benchmark indices opened on positive note with Nifty above 16150. The Sensex was up 446.07 points or 0.83% at 54206.85, and the Nifty was up 139.70 points or 0.87% at 16188.90. The broader markets also opened in green. The BSE MidCap and SmallCap indices were up to 0.8% higher. Infosys, Hindalco Industries, L&T, Tech Mahindra and Bajaj Finserv were among major gainers on the Nifty, while HDFC, HDFC Bank, M&M and Britannia Industries were the laggards. All sectors were trading positively in opening deals with IT, Metal stocks in demand.
“Going ahead, we reiterate our positive stance on markets and expect Nifty to gradually head towards 16600 in coming weeks. Meanwhile, bouts of volatility owing to volatile global cues cannot be ruled out. However, dips from here on should be capitalised on as buying opportunity as we believe strong support is placed at 15500.”
High volatility in the market is likely to continue in the near-term with erratic action from FIIs (FIIs bought on 3 days this month and sold on other days) and sustained buying on dips by retail and DIIs. A significant market trend is the change in leadership from IT and banking to consumption driven FMCG and autos. The 6-month Nifty IT index return is – 31.79% and the Nifty Bank Index is down 9.61% during this period. In sharp contrast to this, Nifty FMCG Index is up 9.74% and Nifty Auto Index is up by 6.17% during this period.”
Infosys, Hindalco Industries, L&T, Tech Mahindra and Bajaj Finserv were among major gainers on the Nifty, while HDFC, HDFC Bank, M&M and Britannia Industries were the top losers.
Infosys, Tech M, L&T, Dr Reddy's, Sun Pharma IndusInd Bank, HUL, Tata Steel and ICICI Bank led gains on the Sensex, rising 1-2 per cent. While HDFC twins, and M&M were the losers with tepid cuts.
Benchmark indices are trading flat in the pre-opening session. The Sensex was down 0.20 points or 0.00% at 53760.58, and the Nifty was down 6.90 points or 0.04% at 16042.30.
0 Comment