Share Market Highlights: Sensex, Nifty end in green; Eicher, M&M top blue-chip gainers
Share Market Highlights: The Indian equity markets remained volatile for yet another session and ended marginally higher on Friday. The tone was negative in the first hour however buying in index majors, especially from banking, financial, and auto space helped the index to trim losses.
The benchmark indices – NSE Nifty50 and BSE Sensex settled at 18,314.80 and 62,027.90 levels, respectively. Meanwhile, the profit taking in broader indices resulted in negative market breadth.
“We expect further consolidation in the index citing mixed signals from the global front. However, there will be no shortage of trading opportunities, thanks to the prevailing earnings season, Ajit Mishra, VP - Technical Research, Religare Broking said in his post market comment.
The market analyst advised that traders should plan their positions accordingly, with a focus on risk management.
Catch minute-by-minute updates on the Indian share market, LIVE market analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, and much more only on Zeebiz.com's blog.
Share Market Highlights: The Indian equity markets remained volatile for yet another session and ended marginally higher on Friday. The tone was negative in the first hour however buying in index majors, especially from banking, financial, and auto space helped the index to trim losses.
The benchmark indices – NSE Nifty50 and BSE Sensex settled at 18,314.80 and 62,027.90 levels, respectively. Meanwhile, the profit taking in broader indices resulted in negative market breadth.
“We expect further consolidation in the index citing mixed signals from the global front. However, there will be no shortage of trading opportunities, thanks to the prevailing earnings season, Ajit Mishra, VP - Technical Research, Religare Broking said in his post market comment.
The market analyst advised that traders should plan their positions accordingly, with a focus on risk management.
Catch minute-by-minute updates on the Indian share market, LIVE market analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, and much more only on Zeebiz.com's blog.
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Volume Buzzers
Stocks such as Intellect Design, Eureka Forbes, Bikaji Foods, Zensar Technologies, and Eicher Motors among others were the volume buzzers during Friday's session.
Sensex, Nifty turn green
As Friday's session progressed, the Indian benchmark indices such as BSE Sensex gained more than 100 points to 62,010.65 level and NSE Nifty50 surged around 22 points to reclaim the 18,300 mark.
Market Update: Sensex, Nifty trade near flatline
MSCI Rejig
Sona BLW, Max Healthcare, and Hindustan Aeronautics will be added to the MSCI index, while Adani Transmission, Adani Total Gas and Indus Tower to be removed from it. The rejig is scheduled to be done by May 31, 2023, according to Zee Business research.
MSCI इंडेक्स में बड़े बदलाव
31 मई से लागू होंगे MSCI के बदलाव
MSCI इंडेक्स से कौन बाहर, किसे एंट्री?#MSCI में किसका वजन बढ़ा, किसका घटा? जानिए नूपुर से...@Nupurkunia @AnilSinghvi_ #StockMarket pic.twitter.com/jA3O6xDi91
— Zee Business (@ZeeBusiness) May 12, 2023
Top gainers, losers
Stocks such as Intellect Design, Zensar Tech, and Global Health surged up to 10 per cent, while Adani Total Gas, Rail Vikas Nigam, and Adani Transmission, were among the top laggards as they fell up to 5 per cent in an otherwise volatile session today.
Tata Motors shares in demand ahead of Q4 results today
Tata Motors share price extended its rally for the fifth straight session and the stock hit a 52-week high of Rs 520.4 per share for the fourth straight session on Friday. This is mainly on the expectations of better March quarter results, which are scheduled to be announced today. Read More
Tata Motors' stock price rose more than 1.5 per cent on the BSE. It opened at Rs 514 per share.
Siemens shares rise after Q4 earnings
In an otherwise weak market, Siemens shares surged around 1.5 per cent higher during Friday's session, a day after the technology major reported strong results. The stock opened at the day's high of Rs 3856.90 apiece on the BSE. Read More
Auto stocks rally
Four out of five top gainers on Nifty50 are Automobile stocks such as Eicher Motors, Bajaj Auto, Tata Motors and Hero Moto Corp.
Street likes Eicher shares today on the back of robust Q4 earnings and Tata Motors stock was in demand mainly on expectations of good March quarter results today.
Nifty Technical Outlook
Profit booking can be witnessed at 18,500-18,700 levels. Any pullback in the upcoming days around the level of 18200-18300 should be seen as a buying opportunity. We can witness a further upsurge towards 18800 and then 19,000 once the market breaches 18,500-18,700 levels. On the downside, a sustainable fall below 18200 will take such a decline towards 18,000-17,800 which if broken decisively will extend downwards till 17,600.
- Arvinder Singh Nanda, Senior Vice President of Master Capital Services
Eicher Motors stock zooms on robust Q4
Shares of Eicher Motors - Royal Enfield maker - zoomed more than 7 per cent to Rs 3647.20 per share during Friday's session on the BSE.
The stock spurted a day after the auto major announced robust March quarter results. Most brokerages raised the target price on the stock.
Opening Bell: Nifty, Sensex in red
Stock of the day
Zee Business Managing Editor Anil Singhvi has recommended to ‘buy’ Sona BLW Precision shares for three targets Rs 565, Rs 575, Rs 590 with a stop loss of Rs 540. The stocks weightage in MSCI now stands at 0.29 per cent.
Check video – why the market guru Anil Singhvi is bullish on this auto component stock?
अनिल सिंघवी ने Sona BLW को क्यों चुना खरीदारी के लिए?
क्या है स्टॉपलॉस और टारगेट्स? @AnilSinghvi_ #StockMarket
LIVE - https://t.co/ITyoHgVO6C pic.twitter.com/XoGyMAeBAH
— Zee Business (@ZeeBusiness) May 12, 2023
Stocks in focus today
Stocks such as Eicher Motors, Asian Paints, Tata Motors, Zomato, and South Indian Bank among others shares are scheduled to be in focus during Friday’s session, mainly on the back of March quarter earnings and corporate action.
Zomato, South Indian Bank और Mangalore-Chemicals समेत कौनसे
शेयर रहेंगे फोकस में?किन कंपनियों के आएंगे नतीजे?
जानिए #StocksInNews में...
Watch Zee Business LIVE - https://t.co/xgfuF4gWK0@Nupurkunia pic.twitter.com/hKHNtPah9Y
— Zee Business (@ZeeBusiness) May 12, 2023
Global Markets Update
Most global markets, including the US and Asia, were sluggish. Key US index Dow Jones slipped 220 points, declining for the fourth consecutive day on Thursday, while Nasdaq ended the session in the green amid a surge in Google shares as it rose over 4 per cent.
US Treasury Secretary Janet Yellen, CEO of JP Morgan warned about the debt limit and said the delay in increasing the debt limit will spread fear in the market.
Bank of England raised rates by 0.25 per cent on Thursday.
#GlobalMarkets सुस्त
Dow 220 अंक फिसला, लगातार चौथे दिन गिरावट
Alphabet 4%
Disney 9%, PacWest 22%
Janet Yellen, JP Morgan के CEO ने कर्ज सीमा पर चेतावनी दी- कर्ज सीमा बढ़ने में देरी से बाजार में डर फैलेगा
Bank Of England ने 0.25% से दरें बढ़ाई@deepdbhandari pic.twitter.com/8zfk3CRL5t
— Zee Business (@ZeeBusiness) May 12, 2023