Share Market News Today | Sensex, Nifty, Share Prices Highlights: Bears attacked Dalal Street in the dying hours of trade, helped by geopolitical tensions and technical catalysts. S&P BSE Sensex tanked 703 points or 1.23% to close at 56,463 points while the NSE Nifty 50 index shed 215 points or 1.25% to settle at 16,958. Bank Nifty was down 1% on closing, broader markets mirrored the losses. The volatile closing minutes of trade pushed India VIX 2.2% higher to closed above 19 levels. Reliance Industries zoomed 3.16% as the top gainer on the index, followed by ICICI Bank. HDFC tanked 6%, accompanied by HDFC Bank, ITC, and Tech Mahindra.

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Bears chocked Dalal Street’s recovery attempt on Tuesday with fag-end selling on Dalal Street that pushed headline indices and broader markets lower. S&P BSE Sensex tanked 703 points or 1.23% to close at 56,463 points while the NSE Nifty 50 index shed 215 points or 1.25% to settle at 16,958. Analysts see the Russia-Ukraine conflict as a major reason behind the massive fall in Sensex and Nifty along with weakness on technical charts. RIL  zoomed 3.16% as the top gainer on the index, followed by ICICI Bank. HDFC tanked 6%, accompanied by HDFC Bank, and ITC. Bank Nifty was down 1% on closing, broader markets mirrored the losses. The volatile closing minutes of trade pushed India VIX index 2.2% higher.

Sensex and Nifty closed deep in red on Tuesday, falling 1.23% each as bears ran riot in the dying minutes of trade. Nifty gave up crucial 17,000 support.

India's 10-year bond yield soared higher on Tuesday afternoon. Yields were above 7.16 mark.

Russia and Ukraine war has continued to weigh down on markets. Analysts believe Russia's recent call for Ukraine to give up arms has hit domestic stock markets today.

“As shared, Nifty has traded with a negative bias today and broken put writter support of 17,000. 200 DEMA support placed at 16,825 & 36,200,” said Rahul Sharma, Director & Head – Research – JM Financial.

“It (Nifty's fall) is just the struggle to hang on above 200-DMA on the closing basis. This needs to be closely watched,” said Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services.

Only Reliance Industries, ICICI Bank, and SBI were trading with gains on Tuesday afternoon. RIL was up more than 3% while ICICI Bank was up 1% and SBI was trading with marginal gains.

HDFC Bank share price fell more than 3 per cent to Rs 1,348.05 apiece on BSE in Tuesday’s trade. The stock has declined over 15 per cent in the last 9 days, and nearly 10 per cent in 5 days. In comparison, S&P BSE Sensex lost 3 per cent in the last five days. Analysts say that even though the HDFC Bank merger news was great and Q4FY22 results were decent, a sharp fall in the HDFC Bank stock price has been seen due to very high expectations and a weak market sentiment. Read full story

US stock markets were not immune to the upheaval in global equity markets during the January-March quarter but value stocks fared better in comparison to their growth peers, data from FTSE Russell showed. The index provider noted that value indices outperformed their Growth counterparts in the January-March period, lifted by their bigger weights in energy and other beneficiaries of the recent broad-based surge in commodity prices intensified by the Russia-Ukraine war and renewed covid-19 lockdowns in China. Further, large caps shares fared better than small caps across industries, particularly in healthcare and staples.

Bears invaded Dalal Street ahead of the closing bell, forcing indices deep into the red. Sensex tanked more than 700 points while Nifty 50 gave up 17000 support levels.

Sensex tanked more than 300 points while Nifty was down more than 100 points with minutes left before the closing bell. The headline indices gave up all gains while the volatility index soared.

“Dollar index in the last few sessions has been inching higher on back of prospects that the Federal Reserve could adopt to a more aggressive rate hike process than estimated earlier. The Fed has already begun raising rates this year and rising inflation is one if the factors that is supporting the view for more rate hikes. Fed minutes released earlier suggest that officials at the central bank have also started to discuss about balance sheet trimming, another tool to manage its fight against inflation. Going ahead, the hawkish stance by the Federal Reserve is likely to extend gains for the greenback. We expect the dollar index to test levels of 103.20 in the near future and downside could be restricted to levels of 97.20,” Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.

The volatility index was down 5.5% on Tuesday afternoon. India VIX was seen sitting just above the 18 mark.

The country’s largest lender State Bank of India (SBI) has raised its marginal cost of funds based lending rate (MCLR) by 10 basis points (bps) or 0.1 per cent across all tenures, a move that will lead to an increase in EMIs for borrowers. The lending rate revision by SBI is likely to be followed by other banks in the days to come.

BSE Sensex and Nifty 50 were trading in the positive territory on Tuesday’s volatile trade on the back of buying index heavyweights such as Reliance Industries (RIL), ICICI Bank, Axis Bank, State Bank of India (SBI), among others. The 30-share index has touched a day’s high of 57,459.89, while NSE Nifty rose to day’s high of 17,275.65, so far in the trade. Stocks of NTPC hit a fresh 52-week high of Rs 165,65 apiece on Tuesday, crossing its previous high of Rs 164, touched in yesterday’s session. While no stock made a fresh 52-week low on S&P BSE Sensex. Read full story

Nifty 50 forward PER at 18x is at the 10-year average (Source: Bloomberg). Premium valuation has declined from peak due to rise in global & domestic bond yields and geopolitical risk led increase in crude prices. The valuations are simultaneously adjusting to the fact that the interest rate environment in which we have lived for the last ten years, is changing too and that is resulting in a downward pressure on the market PE ratios and valuations.

Rakesh Jhunjhunwala Stock: Rakesh Jhunjhunwala has bought more shares of Jubilant Pharmova to increase his stake in the company. The latest shareholding pattern of the company on the Bombay Stock Exchange (BSE) showed that the ace investor has increased his holding in Jubilant Pharmova from 3.14% to 3.61%. Often touted as the Big Bill of Indian stock markets, Rakesh Jhunjhunwala has owned the Jubilant Pharmova stock for years now. So far in 2022, Jubilant Pharmova’s share price has been in the grip of bears. The stock price has fallen 19.63% with little recovery coming this month. The stock trades at Rs 473 per share. 

Mukesh Ambani’s Reliance Industries Ltd (RIL) forayed into the new-energy business over a year ago now. Since then the company has been working to set up Giga factories, acquire technology, and partner with industry players. RIL has so far put in (or committed) a total of Rs 109 billion into the new energy vertical for various investments. The new-age business of Reliance Industries is seen as a positive by brokerage firms. Motilal Oswal and Goldman Sachs have recently discussed the new-age energy transition, separately, with the former adding the initiative may replicate the success of Jio and Reliance Retail. Analysts have reiterated their bullish views on Reliance Industries’ stock price. RIL share price is up 4% on Tuesday.

PB Fintech, the parent company of PolicyBazaar, has seen its shares tank 20% so far since its IPO in 2021. Initiating coverage of the stock, analysts at ICICI Securities said that PB Fintech is well placed to benefit from the rising insurance penetration in India, especially through digital distribution. The brokerage firm has initiated the coverage with a ‘ Buy’ call and a target price of Rs 940 per share. The stock came under pressure earlier this year along with other internet stocks and has not recovered completely so far. On Tuesday morning, PB Fintech shares began trading at Rs 777 per share.

Reliance Industries share price was the top Sensex gainer on Tuesday morning. The Oil to gas major saw its stock rise 2.55% to sit at Rs 2,608 per share.

“The upswing anticipated from within the 17300-17158 region got delayed in the face of severe bearish momentum in the first half, culminating in a sizeable breach of the 17158 mark. Yet, the swing back above the 200DMA by close sets up the environment for a visit to the 17250-300 region today. This is an iffy region, which will keep the 16800 move in play. But even if 17300 stands firm for the day, a close above 17171 today could brighten the chances for an extended recovery push towards 17500 later in the week,” said Anand James – Chief Market Strategist at Geojit Financial Services.

“Gold climbed to $1,998.10 on Monday, buoyed by safe-haven demand, as the Ukraine crisis dragged on and inflation concerns mounted. However, the metal later gave up most gains as the dollar and U.S. 10-year Treasury yields firmed. USDINR shall trade in a range between 75.90 to 76.50 levels.  Key companies announcing their quarterly results are ACC, Mastek, LTI etc. Crucial support for Nifty 50 is 17,000 while Nifty may face some resistance at 17,500,” said Mohit Nigam, Head – PMS, Hem Securities.

After having opened with gains, domestic headline indices started trading flat on Tuesday morning. India VIX was in red.

Sensex and Nifty started the day's trade with gains. India VIX was down 2.3%, giving up 19 levels.

Outlook for this week is bullish but a strong dollar is a major headwind for the moment. Couple of important speeches will draw attention. On 19 April Fed’s Bullard will discuss the shape of the US economy and monetary policy. On 21 April Fed chair Jerome Powell and EBC head Lagarde will take part in the IMF panel on the Global Economy. Hence, traders may want to wait for a while before taking a decisive call. MCX Gold June future may experience a small technical correction and price may dip to Rs 52,500 per 10 gram but eventually may rally towards Rs 54,000 per 10 gram in coming weeks. Read full story

Sensex rises 400 points at the start of the pre-open session, Nifty 50 regains 17,200.

“Nifty slipped below the crucial support of 17400 and stayed below it throughout the session (Yesterday). The weakness may prevail over the near term as the index continues to remain below 17400. Going ahead, penetration below 17000 looks possible over the near term; on the lower end, support is visible at 16800,” said Rupak De, Senior Technical Analyst at LKP Securities.

“Bias remains negative below 17400 with multiple supports placed at 17000-16900 (Put writer support +200DEMA). Bank Nifty support at 36400,” said Rahul Sharma, Director & Head – Research, JM Financial.

L&T Info, ACC: BSE-listed companies such as ACC, Larsen & Toubro Infotech, Mastek, Tata Steel Long Products, PCBL, Benares Hotels, Godavari Drugs, and Longview Tea will release their fourth quarterly earnings for FY22 on Tuesday. Read full story

Nifty finds support around 17067 while 17700 will act as resistance on the upside. Bank Nifty finds support around 36400 while 37200 will act as resistance.

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: For the thirteenth day running, petrol and diesel prices were left untouched by oil marketing companies (OMC) on April 19. Prices have been steady for nearly two weeks now after OMCs hiked prices by nearly Rs 10 per litre across major cities. Petrol in the National Capital of Delhi currently retails at Rs 105.41 per litre, after the last hike of 80 paise that came more than a week ago. Diesel in the city is priced at Rs 96.67. In Mumbai, a litre of petrol and diesel cost Rs 120.51 and Rs 104.77, respectively. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international prices and foreign exchange rates. 

” In terms of constant time cycles. Nifty seems to be making a low every 25-27 trading days from the previous low. We are 26 trading days from the low of March 07 2022. Other time counts are also hitting Nifty within the next 1-2 days. Nifty has a major support zone at 16970-16800 and Stochastic could get oversold in the next 1-3 days. Traders should refrain from creating fresh short trades as the Nifty is nearing a major support zone and it is within a time cycle low. What we need is a reversal signal which could prompt a swift bounce in the Nifty,” said Manish Shah, Independent Technical Analyst (SEBI Registered).

“India's inflation based on the Wholesale Price Index (WPI) rose to a four-month high of 14.55 per cent in March from 13.11 per cent in February. The high rate of inflation in March, 2022 is primarily due to rise in prices of crude petroleum & natural gas, mineral oils, basic metals, etc owing to disruption in global supply chain caused by Russia-Ukraine conflict,” said Deepak Jasani, Head of Retail Research, HDFC Securities.

Wholesale price inflation hit a four-month peak of 14.55% in March, mirroring a broad-based spike in global commodity prices, especially of oil, in the wake of the Ukraine crisis, showed official data released on Monday.