12 Apr , 2022 By : monika singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets remained in the firm grip of bears on Tuesday’s opening bell. S&P BSE Sensex opened in red, falling nearly 0.60% to hover around 58,600 levels while the NSE Nifty 50 index fell 100 points or 0.6% to give up 17,600. Bank Nifty was in the red while India VIX soared higher. Broader markets mirrored the fall. TCS was the top gainer on BSE Sensex, up 0.29%, along with Maruti Suzuki India. Larsen & Toubro was down in red, falling 1.1%, followed by Tech Mahindra, and M&M.
Kicking off the earnings season, Tata Consultancy Services (TCS) on Monday reported a strong set of numbers with revenue standing at Rs 50,591 crore, up 3.5% sequentially while net profits came in at Rs 9,926 crore, a quarter-on-quarter increase of 1.6%. The IT major reported an order win of $11.3 billion, significantly higher than the $7.6 billion TCS saw during the October-December quarter. Rajesh Gopinathan, MD & CEO, TCS said that the demand environment continues to be strong with technology spending by clients getting prioritised.
Defence Minister Rajnath Singh on Monday urged American companies to come and invest in India and support the ‘Make in India’ programme.”I have talked to American companies for Make in India and aerospace and world programme. I have invited them for these programmes,” Singh told reporters at a joint news conference with External Affairs Minister S Jaishankar along with their American counterparts Defence Secretary Lloyd Austin and Secretary of State Tony Blinken.
“Markets are likely to extend the southbound journey in today's trades amid weak global cues as heightened recession fears, hawkish Federal Reserve and a prolonged Russia-Ukraine conflict remain major concerns for investors. Although interest rates have been the market's main driver for months, earnings season will likely steal away traders' attention soon enough. Nifty’s intraday support is seen only at 17601 mark, while the make-or-break medium-term support is seen at 200-DMA at 17141 mark. Below the same, expect a waterfall of selling which could take Nifty down to 16691 mark with inter-month perspective,” said Prashanth Tapse, Vice President (Research), Mehta Equities.
Anand Rathi Wealth, GM Breweries, Hathway Cable & Datacom, Tinplate Company of India, Evexia Lifecare, and Gayatri Bioorganics etc.
On the technical front 17,400 and 17,800 are immediate support and resistance in Nifty 50. For Bank Nifty 37200 and 37900 are immediate support and resistance respectively.
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