Stock Market Highlights Today: Nifty forms indecisive Bullish Harami candle; what does it signal for Tues… – Economic Times

Benchmark BSE Sensex rebounded by 180 points at close after a see-saw trade on Monday, ending its six-day falling streak on the back of gains in banking, financials, power and auto counters. The 30-share BSE benchmark gained 180.22 points or 0.34 per cent to settle at 52,973.84. During the day, it zoomed 634.66 points or 1.20 per cent to 53,428.28. The broader NSE Nifty went up by 60.15 points or 0.38 per cent to finish at 15,842.30, logging its first gain in seven sessions.

!1 New UpdateClick here for latest updates

Nifty50 on Monday snapped a six-day losing streak but formed an indecisive Bullish Harami candle on the daily chart. Analysts said the recent selling pressure seems to have halted and that a close above the 15,900-16,000 level could send signs of a rebound ahead. Independent Analyst Manish Shah said the lows of the last three days are almost equal at 15,750 and the pattern in play is a tweezers bottom. It suggests Nifty50 is not ready to slip below the support at 15,750, Shah said.

Since markets are closely following global cues, the rebound in the US market is giving hope for some respite on the domestic front as well. However, we recommend participants to continue with a cautious stance until we see some sign of reversal in the Nifty index. Meanwhile, sectors are offering trading opportunities on both sides so the focus should be more on stock selection and risk management.

– Ajit Mishra, VP – Research, Religare Broking

Q4 EARNINGS: GSK PHARMA

  • Revenue: Rs 810 cr vs Rs 744 cr YoY
  • PAT: Rs 1219 cr vs Rs 14.3 cr YoY
  • Board declares Rs 90 per share dividend

Nifty tech view by Rupak De, LKP Securities

Nifty continues to consolidate in the narrow range as the benchmark index has failed to give any directional movement. Sideways pattern may continue as long as Nifty stays within a tight band of 15800 and 16000 on a closing basis. A decisive breakout on either side may induce a decent move in the direction of the breakout.

What moved market today?

Continued selling by FIIs as they chase high yield US bonds restricts the Indian market to hold on to its pull-back rally, despite interest from the domestic investors. Weakness in global equities along with the unfavourable global cues led to heavy selling towards the closing hours, as the investors lacked confidence to take forward their positions. The investors are currently on a risk deleveraging phase, hunting for safe-haven investments.

— Vinod Nair, Head Of Research at Geojit Financial Services

Autos & Banks helped benchmark Indices stay in the green today as rising inflation and its impact on discretionary spending kept investors worried. The broader markets witnessed keen interest in companies likely to post good numbers during the first quarter of the current fiscal. Diagnostic & Pathology firms witnessed profit taking ahead of their Q4 earnings on the back of high competitive intensity.

– S Ranganathan, Head of Research at LKP securities

Sector Watch: Defensives bleed in an otherwise firm market

Sector Watch: Defensives bleed in an otherwise firm market

Top 5 Nifty gainers & losers

Top 5 Nifty gainers & losers

Sensex Heatmap: 22 of 30 index stocks end in the green

  • TOP GAINERS: NTPC, SBI, Bajaj Finance
  • TOP LOSERS: Ultratech, Asian Paints, ITC
Sensex Heatmap: 22 of 30 index stocks end in the green

Closing Bell: Sensex breaks 6-day losing run, ends 180 pts higher; Nifty tops 15,800; DMart rallies 10%, Eicher Motors 8%

Bitcoin back below $30,000; European regulators renew crypto warnings

Cryptocurrencies resumed their slide on Monday, giving up the gains they had eked out over the weekend, as regulators continued to circle. European officials reiterated warnings of risks posed by cryptocurrencies. Bitcoin fell 5% to around $29,700 on Monday in Asian trade, sliding alongside stocks because of worries about high inflation and rising interest rates.

STOCK WATCH: CRISIL IN FOCUS

Market LIVE Updates: Most active stocks in afternoon session

Price as on 16 May, 2022 02:40 PM, Click on company names for their live prices.

GLOBAL MARKET UPDATE

Ambuja & ACC are likely to be merged: ET NOW

Auto components major Bharat Forge Ltd on Monday reported a 9.3 per cent increase in its consolidated net profit at Rs 231.86 crore in the fourth quarter ended March 2022, driven by higher revenue. The company had posted a consolidated net profit of Rs 212.12 crore in the same period of the preceding fiscal, Bharat Forge said in a regulatory filing.

Price as on 16 May, 2022 02:12 PM, Click on company names for their live prices.

European shares slide as weak China data stokes recession woes

European shares fell on Monday, with French and German stocks losing up to 1% each, as alarmingly weak economic data from China fanned global recession fears. China’s April retail sales plunged 11.1%, almost twice the fall forecast, while industrial output dropped 2.9% when analysts had looked for a slight increase, adding to fears that the world’s second-biggest economy could contract this quarter amid COVID-19 lockdowns. The pan-European STOXX 600 index fell 0.4% by 0801 GMT, after posting its first weekly gain in five on Friday.

These stocks hit 52-week lows in an otherwise firm market

Price as on 16 May, 2022 01:42 PM, Click on company names for their live prices.

Market LIVE Updates: Nifty off day’s high, trades above 15,800

Market LIVE Updates: Nifty off day's high, trades above 15,800

Top 10 losers in afternoon session

Price as on 16 May, 2022 12:56 PM, Click on company names for their live prices.

“Tata Power Solar Systems, one of India’s largest integrated solar companies and a wholly-owned subsidiary of Tata Power, bagged an order of 300 MW solar project worth Rs 1,731 crore, inclusive of tax from NHPC,” a company statement said.

Price as on 16 May, 2022 12:15 PM, Click on company names for their live prices.

LIC shares to list on stock exchanges tomorrow. What to expect?

The Life Insurance Corporation (LIC) of India is all set to make its Dalal Street debut on Tuesday. LIC shares are now trading at a mild discount in the grey market, signaling negative to at par listing. Last heard, LIC shares were exchanging hands at a discount of Rs 15-20 apiece in the unofficial market over its issue price of Rs 949. According to dealers tracking the grey market, investors should trim hopes of listing pop from the state-run insurer as sentiments are jeopardized by low subscription figures and a volatile market.

Market LIVE Updates: Top 10 gainers at this hour

Price as on 16 May, 2022 12:08 PM, Click on company names for their live prices.

BITCOIN BREAKS BELOW $30,000

Amber Enterprises plunges 17% after Q4 numbers

Shares of Amber Enterprises India plunged as much as 17 per cent in early morning on Monday, following a poor set of numbers in the quarter ended March 2022. Amber Enterprises India reported a 46.59 per cent decline in net profit to Rs 32.39 crore in the quarter as against Rs 60.64 crore during the previous quarter ended March 2021. The company clocked a 19.16 per cent increase in sale to Rs 1,556.55 crore in the fourth quarter of financial year 2021-22 as against Rs 1,306.29 crore during the corresponding period previous year.

Jet fuel prices hiked by 5% to new record high in Delhi

Price as on 16 May, 2022 11:38 AM, Click on company names for their live prices.

BLOCK DEAL: 15.2 lakh shares of NTPC change hands in block deal

BLOCK DEAL: 15.2 lakh shares of NTPC change hands in block deal

The country’s largest lender State Bank of India has raised its marginal cost of funds based lending rate by 10 basis points or 0.1 per cent across all tenures, a move that will lead to an increase in EMIs for borrowers. This is the second hike in a month raising the cost by 0.2 per cent with the two consecutive increases.

Price as on 16 May, 2022 11:31 AM, Click on company names for their live prices.

Digital payments and financial services company Paytm has said that it will seek a new general insurance license with a fresh application, aimed at gaining majority shareholding with a 74 per cent upfront equity stake; stock jumps 4%

Price as on 16 May, 2022 11:16 AM, Click on company names for their live prices.

Market LIVE Updates: Bank Nifty rallies nearly 2%; all constituents in the green

Market LIVE Updates: Bank Nifty rallies nearly 2%; all constituents in the green

Patterns continue to appear very bearish. The prospects of a breach of 15671 appear much higher this week. It would require a close above 15930 today, for bearish momentum to give way for a consolidation or a short term pull back. Else, brace for 15400.

– Anand James – Chief Market Strategist at Geojit Financial Services

Adani-Holcim deal impact: ACC, Ambuja Cements gain, rival Ultratech, Shree Cements decline

Price as on 16 May, 2022 10:21 AM, Click on company names for their live prices.

Market LIVE Updates: BSE Midcap index moves in tandem with benchmark Sensex, jumps over 1%

  • Voda Idea, ACC, Crisil, Adani Power among best performing stocks from the pack
Market LIVE Updates: BSE Midcap index moves in tandem with benchmark Sensex, jumps over 1%

Nifty is down 9% this year and the market is weak. In a bear phase there will be relief rallies, but such rallies are unlikely to sustain, given the relentless selling by FIIs. It is rational to expect more FII selling, particularly when the market stages relief rallies. It is important to appreciate the fact that FIIs are selling not because they are bearish on India but because US bond yields are attractive and the dollar is strengthening. Since Nifty is trading at around 18 times FY 23 earnings, valuations are not yet cheap. But there are pockets where earnings visibility is good and valuations are fair like financials, telecom, IT and construction. Long-term investors can start accumulating high quality stocks in these segments.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Sensex today LIVE: Index off day’s low, trades 400 points higher

Sensex today LIVE: Index off day's low, trades 400 points higher

Voda Idea, Ambuja Cements, SBI among most active stocks

Price as on 16 May, 2022 09:22 AM, Click on company names for their live prices.

SECTOR WATCH: Nifty Metal, PSU Bank rally over 1% each

SECTOR WATCH: Nifty Metal, PSU Bank rally over 1% each

Sensex Heatmap: Majority of stocks trade firm

  • TOP GAINERS: L&T, Tata Steel, Maruti
  • TOP LOSERS: Ultratech, TechM, Airtel
Sensex Heatmap: Majority of stocks trade firm

OPENING BELL: Sensex rises 30 points, Nifty above 15,800; Adani Power jumps 5%, Voda Idea 4%

Pre-open session: Sensex gains 150 points, Nifty nears 15,850

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 88 points, or 0.56 per cent, higher at 15,860.50, signaling that Dalal Street was headed for a positive start on Monday.

Tech View: Nifty bulls lack strength

Nifty50 on Friday closed lower for straight sixth session. The index formed a bearish candle on the daily chart even as it managed to negate its lower high-low formation. On the weekly scale, the index formed a long bearish candle with a long upper wick, suggesting selling pressure at higher levels. The index has further gone into oversold territory but the bulls lack strength, said analysts.

Hong Kong stocks open higher

Hong Kong equities opened higher on Monday, following a Wall Street bounce sparked by a rally among tech-rich stocks. The Hang Seng rose 1.17 percent, or 232.76 points, to 20,131.53. The Shanghai Composite Index saw a slight increase of 0.53 percent, or 16.27 points, to 3,100.55, while the mainland’s second exchange the Shenzhen Composite rose 0.75 percent, ot 14.45 points, to 1,945.90.

Tokyo shares open higher after US gains

Tokyo shares opened higher on Monday after Wall Street rebounded, backed by gains among high-tech stocks. The benchmark Nikkei 225 index gained 1.23 percent, or 325.72 points, to 26,753.37 at the open, while the broader Topix index rose 1.03 percent, or 19.13 points, to 1,883.33. The dollar fetched 129.48 yen against 129.19 yen in New York on Friday.

US stocks settled higher on Friday

Wall Street stocks rallied Friday, finally managing to score gains at the end of a week beset with worries over inflation, the Ukraine war and the economic outlook. The tech-rich Nasdaq Composite Index led the major indices, winning 3.8 percent to close at 11,805.00. The Dow Jones Industrial Average climbed 1.5 percent to end the day at 32,196.66, while the broad-based S&P 500 jumped 2.4 percent to 4,023.89.

Rupee slips 5 paise to close at all-time low of 77.55 per dollar

The rupee pared its initial gains and settled 5 paise lower at its fresh lifetime low of 77.55 against the US dollar on Friday, as inflation concerns and strength of the American currency weighed on the local unit. Forex traders said the rupee consolidated in a narrow range, as the weakness in regional currencies and depressing economic data weighed on the domestic unit, while intervention from the Reserve Bank of India (RBI) restricted the losses.

Sensex, Nifty last week

The week gone by was dominated by the bears, with many stocks seeing relentless selling pressure in all five sessions, thanks to a less-than-expected fall in US inflation print and higher than expected surge in April inflation numbers at home. There were not many surprises in corporate earnings that could revive sentiment. Sensex ended the week at 52,793.62, down 2,041.96 points or 3.72 per cent. A total of 26 of 30 index stocks ended lower for the week. Nifty50 tanked 629.10 points or 3.83 per cent for the week to 15,782.15.

Good morning, dear reader! Here’s something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day

Leave a Reply

Your email address will not be published. Required fields are marked *