21 Oct , 2022 By : Monika Singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Benchmark indices BSE Sensex and NSE Nifty 50 are expected to open marginally lower amid weak global cues. SGX Nifty hinted at a flat to negative start for Indian equities as Nifty futures were trading 11 pts or 0.06% down at 17509 on the Singapore Exchange ahead of the session. Shares in Asia were trading mostly traded lower as investors await inflation data from several economies. Japan’s Nikkei 225 slipped 0.36%, and South Korea’s Kospi dipped 0.37%. Meanwhile, US stocks overnight as investors digested earnings and rising Treasury yields. The Dow Jones Industrial Average dipped 0.30%, the S&P 500 shed 0.8%, and the Nasdaq Composite lost 0.61%.
Reliance Industries is scheduled to announce its quarterly result today. Mukesh Ambani’s oil-to-telecom conglomerate is expected to post a robust earnings growth for the July-September quarter, helped by Reliance Jio telecom’s operating profit, a rise in ARPU (Average Revenue Per User), and strong retail sales. Analysts project Reliance Industries to report a net profit jump ranging 10-40% on-year for the fiscal second quarter, to as much as Rs 21,500 crore. A likely muted performance of RIL’s O2C (Oil-to-chemicals) business, due to subdued petrochemicals demand, is expected to be cushioned by a healthy growth in gross refining margins.
Benchmark indices opened higher despite mixed global cues. BSE Sensex jumped 200 pts, while NSE Nifty 50 reclaimed 17600.
“Yesterday, no significant activity was seen in Nifty & Banknifty futures on price front whereas on open interest front both Nifty and Banknifty futures added around 10% & 5% of open interest respectively. On sectoral front, long buildup was seen among Telecom, Textile and Chemical stocks whereas some short buildup was seen among Banking stocks. On options front, Nifty will start the last weekly expiry of Oct series with maximum positions at 18000 CE and 17000 PE.”
“Bank Nifty slipped lower but found support from its line of parity at 39,800-40,000 zone. From here on, till 39,600-39,400 near 50 DMA’s; multiple supports are visible on the daily chart of index. With this support, bank nifty can revisit the levels of 40,600 and 41,000 levels where it could face resistance in the coming days.”
“Going ahead, the trend on Nifty may remain positive as long as the index holds above 17300 levels on a sustained basis. On the higher end, 17,800 may act as next resistance; a decisive move above 17,800 may induce a rally towards the recent high of 18000.”
0 Comment