Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian benchmark indices opened higher with Nifty above 15,700 on the back of positive global cues. The Sensex was up 526.66 points or 1.01% at 52792.38, and the Nifty was up 163.50 points or 1.05% at 15720.20. IndusInd Bank, Axis Bank, SBI, ICICI, Bajaj Finance, Wipro, Tata Steel and Ultratech Cement led gains on the Sensex, while Nestle and HDFC were the only losers. In the broader markets, the BSE MidCap and SmallCap indices were also in the positive territory, rising up to 1%. Sectorally, all pockets sat firmly in green. Gains were led by Nifty bank, financials, private bank and media. Realty, auto, IT, FMCG, pharma were other notable gainers.

Broking house initiate coverage on Tube Investments of India with a buy rating and a target price of Rs 1,900 (premised on Mar'24E SOTP, based on 30x for the standalone business and valuing listed subsidiaries at 20% HoldCo discount).

Key risks: a) ‘Lean’ program execution for margin improvement, b) TI-2 strategy execution in new business areas, c) sustained turnaround of acquisition under TI-3 strategy, and d) upside risk to CG Power estimates.

Recovering from its record low, the rupee opened 12 paise up at 78.20 against the US dollar on Friday, tracking a pullback iIn F&O space, we observed open interest reduction in Nifty as well as Bank Nifty. Stronger hand continues with their relentless selling in equities but preferred buying in index and stock futures segment. This has resulted in their index futures Long short Ratio surging to 24%. Interestingly, the Nifty futures are now trading at premium and the PCR-OI has also come close to 1, which is a positive development. For the coming monthly series, 15500 put and 16000 call strikes are attracting traders’ attention. Hence, we believe 15400 – 15500 shall act as an immediate demand zone, whereas any sustainable move on the closing basis above 15700 shall open doors for the psychological mark of 16000.n crude oil prices

The Bombay High Court on Thursday dismissed the appeal filed by a Dish TV promoter entity against YES Bank — the largest shareholder in the direct-to-home company — paving the way for the latter to vote at the extraordinary general meeting (EGM), to be held on Friday.

On Thursday, the Bank Nifty bounced back and closed with a gain of 0.94%. On the options front, both 33000 Call and Put options hold substantial OI. Hence, we expect the Bank Nifty to consolidate around current level with 33000 as anchor point.

“Indian markets are likely to open gap up tracking positive global cues though caution persisted over aggressive hikes in interest rates and their impact on economic growth. Domestic markets ended higher on the back of gains in auto, BFSI and IT stocks amid declining crude oil prices on demand concerns. US markets ended higher as traders reacted to Fed Chair Jerome Powell’s testimony before the Senate Banking Committee.”