Share Market LIVE: Sensex opens in green, nears 49,000, Nifty crosses 14,700; IndusInd Bank, SBI top gainers

Share Market LIVE: Sensex opens in green, nears 49,000, Nifty crosses 14,700; IndusInd Bank, SBI top gainers

Share Market Today, Share Market LiveShare Market Today, Share Market LiveINDIA VIX was moving lower on Tuesday morning.
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Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices showed strength on Monday and trimmed opening losses to end the day flat. S&P BSE Sensex now sits at 48,718 points while the 50-stock NSE Nifty is placed at 14,634. Metals and FMCG stocks saw buying interest from investors meanwhile bank stocks suffered losses. On Tuesday morning, SGX Nifty was down 30 points, hinting at a negative start for domestic stock markets. Meanwhile, global cues were mixed. NASDAQ ended in the red while Dow Jones and S&P 500 gained. In Asia, KOSPI and KOSDAQ were down in the red while Hang Seng was trading in green.

Sensex, Nifty zoomed on the opening bell. Sensex was nearing 49,000 while the Nifty 50 was above the 14,700 mark.

Sensex was gaining momentum during the pre-open session on Tuesday and was nearing 49,000 ahead of the opening bell. 

Senex and Nifty were trading with gains during the pre-open session on Tuesday. Nifty was nearing 14,700.

Ahead of the pre-open session SGX Nifty turned positive, hitting at a flat to positive start for domestic markets.

The Microsoft co-founder and his wife said they would continue to work together at the Bill & Melinda Gates Foundation, the world’s largest private charitable foundation. In identical tweets, they said they had made the decision to end their marriage of 27 years. “We have raised three incredible children and built a foundation that works all over the world to enable all people to lead healthy, productive lives,” they said in a statement. “We ask for space and privacy for our family as we begin to navigate this new life.”

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel were today hiked for the first time after 18-days of unchanged rates. Today, the price of Petrol in Delhi stands at Rs 90.55 per litre, up 15 paise from yesterday, while Diesel prices were hiked by 18 paise to Rs 80.91 per litre. Fuel prices remain the highest in Mumbai at Rs 96.95 per litre for Petrol. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.

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IndusInd Bank (IIB) posted better-than-expected Q4FY21 PAT of Rs 9.3billion with visible signs of improvement across critical business metrics. Loan momentum improved—driven by strong retail disbursements. Most importantly, deposits rose further 6.8% QoQ—a commendable feat. Asset quality is along expected lines, and we reckon provision buffers are adequate to deal with current uncertainty. IIB has been steadily delivering on core performance. Stabilisation of deposits and its stance of building on its existing provision buffer render outlook stable. Factoring these in, we are raising the target to 1.8x P/B (earlier 1.5x), which yields a TP of Rs 1,150 (up from Rs 880). Consequently, we are upgrading IIB to ‘buy’ from ‘hold’.

~ Edelweiss 

Nifty futures were trading 30 points or 0.20 per cent down at 14,650.80 on Singaporean Exchange, indicating a negative opening for BSE Sensex and Nifty 50 on Tuesday. Currently, the 30-share Sensex sits at 48,718 while the Nifty 50 index is at 14,634. Global cues were positive on Tuesday morning. Investors will continue to watch rising COVID cases, ongoing inoculation, Q4 results, rupee movement, oil prices and other global cues.

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“Going forward, markets are likely to be range-bound as the fear of the continuous rise in covid cases and extended lockdowns in various states, are likely to cap the upside. We expect Nifty to trade in the range of 14200-15000 zone. So far the strong quarterly earnings season has been supportive to the market but the poor progress on the vaccination front is denting the sentiments. Investors should seize the opportunity of accumulating stocks during this volatility phase, while traders should be cautious and stock specific with timely profit booking approach,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.

Nifty futures on the Singapore exchange were down in the red on Tuesday morning, hitting at another negative opening for Dalal Street.

After ending flat in the previous session, BSE Sensex and Nifty 50 are looking to open in the negative territory on Tuesday. In the previous session, S&P BSE Sensex ended 63 points lower at 48,718 while the Nifty 50 index closed at 14,634. Trends on SGX Nifty were hinting at a gap-down start for the domestic market indices. Technical analysts believe that if Nifty 50 gets past 14,700 level and stay above it, it may move towards the target of 15,100. “If we break 14400, we could slip further to 14100,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

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Covid-induced lockdowns and restrictions on mobility have pushed India’s unemployment rate to a four-month high of 7.97% in April compared with 6.5% in March, 6.89% in February and 6.52% in January this year, data compiled by Centre for Monitoring Indian Economy (CMIE) showed.

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