27 May , 2022 By : monika singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets started the day’s trade with gains as bulls continued to remain in control. S&P BSE Sensex jumped more than 400 points or 0.74% to sit past the 54,700 mark while NSE Nifty 50 index was up above 16,300. Bank Nifty gained more than 230 points while India VIX was in the red. Tech Mahindra shares jumped 2.39% as the top Sensex gainers, followed by HCL Technologies, and Infosys. Asian Paints was the top laggard, followed by NTPC, and Power Grid.
“FPI selling, the main trigger for the market weakness in India, is showing signs of exhaustion. DII and retail buying and overwhelming FPI selling along with short covering can trigger a near-term rally. High-quality large-caps can stage a rally. Leading banks are safe bets,”
Paradeep Phosphates shares listed on the stock exchanges today at a marginal premium to the IPO price amid the bullish market momentum. Shares of the company began trading on the NSE at Rs 44 per share, up/down 4.76% from the IPO price of Rs 39-42 per share and on the BSE the stock debuted at Rs 43.55 apiece. The fertilizer company came with its IPO earlier this month and was fully subscribed by investors of all categories, except NIIs. The company had a market capitalisation of Rs 3,547 crore on its market debut.
Aether Industries IPO, which was subscribed 6.26 times, is likely to finalise the share allotment basis on Tuesday, 31 May. The Rs 808-crore public issue was sold in the range of Rs 610-642 per share. Aether Industries’ shares were seen trading tepid in the grey market, with stock quoting a weak premium in the unlisted space of just Rs 9 apiece, down from Rs 20 per share on Monday when the IPO opened, according to the people who deal in unlisted shares of the companies.
“Going ahead, follow-through strength in Bank Nifty (which carries 35% weightage in Nifty) would drive Nifty towards upper band of consolidation placed at 16400.”
The US markets ended higher on Thursday after optimistic retail earnings outlooks and waning concerns about overly aggressive interest rate hikes by the Federal Reserve put investors in a buying mood. Asian markets are trading in green on Friday thanks to strong results from regional tech firms and US retailers. Key support and resistance levels to watch is 16,000 and 16,400.
The maximum Call open interest was seen at 16,200 strike, followed by 16,300 strike. While call writing was seen at 15,900 strike, followed by 16,200 strike. On the other hand, the maximum Put open interest was seen at 16,000 strike, followed by 16,100 strike. Put writing was seen at 16,100 strike, followed by 15,900 strike.
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