Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian benchmark indices opened with marginal gains amid high volatility. The BSE Sensex was up 63.69 points or 0.11% at 57039.68, and the Nifty was up 23.90 points or 0.14% at 17093. Bank Nifty was up 64 points or 0.18% at 36228. Sectorally, Nifty Metals, Pharma, and consumer durable stocks were leading losses, down up to a per cent. While, Realty pack was the top gainer. Powergrid, NTPC, Maruti, Kotak Mahindra Bank, Wipro were the top Sensex gainers, while Bharti Airtel, Dr Reddy, Sun Pharma, Titan, HUL, Asian Paints and Reliance Industries (RIL) were the laggards.

Life Insurance Corporation of India (LIC) will launch the biggest initial public offer (IPO) in the history of Indian stock markets today. Through this IPO, the government of India will be liquidating its 3.5% stake in the corporation, and aims to mop up about Rs 21,000 crore at the upper end of the price band of Rs 902 – 949 per share. This will result in an implied market capitalisation of Rs 6 lakh crore for the company. “The mega IPO of LIC would also open on 4th May 2022 which is expected to attract lot many retail investors to the equity market but could suck out some liquidity from the market,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.

Sectorally, Nifty Metals, Pharma, and consumer durable stocks were leading losses, down up to a per cent. While, Realty pack was the top gainer. Nifty Bank and IT also held marginal gains. 

Britannia Industries, ONGC, Tata Motors, Bajaj Auto and Power Grid Corp were among major gainers on the Nifty, while losers were Hindalco Industries, Apollo Hospitals, Bharti Airtel, Shree Cements and HDFC Life.

Indian benchmark indices opened with marginal gains amid high volatility. The BSE Sensex was up 63.69 points or 0.11% at 57039.68, and the Nifty was up 23.90 points or 0.14% at 17093.

Benchmark Indices are expected to open on a positive note as suggested by trends on SGX Nifty. The Fed today is expected to raise interest rate by 50 bps, Jerome Powell’s commentary or any action different from expectations will decide the the next move of global markets. The IPO of LIC will open today and close on 9th May. Earnings today include Kotak Mahindra Bank, Tata Consumer Products, ABB India, Deepak Nitrite, Rain Industries etc. Immediate support and resistance for Nifty are 16,800 and 17,200 respectively. Immediate support and resistance for Bank Nifty are 35,500 and 36,500 respectively.”

We may not see any trending move in the market unless the market is crossing the 17400 level or breaking the 16800 level. It is advisable to be a stock-specific trader in the market rather than focusing on the index. A close below the 16800 level will be negative for the market. The volatility index is well above the 20 level, which is an indication that the market is about to break the trading range in the near future.