Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Monday’s session broadly in green. The NSE Nifty 50 jumped 202.8 points or 1.12% to 18,271.8 and BSE Sensex 709.96 surged 1.16% to 61,764.25. In sectoral indices, Bank Nifty soared 622.8 points or 1.46% to 43,284, Nifty Financial Services climbed 280.1 points or 1.47% to 19,303.95 while Nifty PSU Bank fell 38.5 points or 0.93% to 4,115.1. The top gainers on the Nifty 50 were IndusInd Bank, Tata Motors, Bajaj Finance, Bajaj Finserv and ONGC while the losers were Coal India, Adani Enterprises, Sun Pharma, Dr Reddy and Britannia.
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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Highlights
16:13 (IST) 8 May 2023 Where is share market headed after Nifty closes above 18270, Bank Nifty above 43280
Benchmark indices NSE Nifty and BSE Sensex ended Monday’s session broadly in green. “Indian equities gained confidence from strong domestic earnings and fading concerns over the US economic slowdown following robust job data. The recent weakness in the US dollar is drawing more foreign funds to the domestic market, with FIIs remaining net buyers for seven consecutive days. The US inflation report, due on Wednesday, is expected to remain around the March level of 5%,” said Vinod Nair, Head of Research at Geojit Financial Services.
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15:40 (IST) 8 May 2023 Top gainers/losers
The top gainers on the Nifty 50 were IndusInd Bank, Tata Motors, Bajaj Finance, Bajaj Finserv and ONGC while the losers were Coal India, Adani Enterprises, Sun Pharma, Dr Reddy and Britannia.
15:40 (IST) 8 May 2023 Bank Nifty soars 600 pts, Fin Nifty climbs 1.5%, PSU Bank falls
In sectoral indices, Bank Nifty soared 622.8 points or 1.46% to 43,284, Nifty Financial Services climbed 280.1 points or 1.47% to 19,303.95 while Nifty PSU Bank fell 38.5 points or 0.93% to 4,115.1.
15:39 (IST) 8 May 2023 Nifty, Sensex end broadly in green
The NSE Nifty 50 jumped 202.8 points or 1.12% to 18,271.8 and BSE Sensex 709.96 surged 1.16% to 61,764.25.
15:04 (IST) 8 May 2023 Paytm not a suitable investment at current level – Prudent Equity
“Paytm is expanding at a faster rate; nonetheless, the risk-reward ratio does not favour investors. Paytm continues to lose money while having a very high valuation. We believe that in the long-term investors profit when the company profits. Paytm is not a suitable investment at the current level; better alternatives are available in the market,” said Diwakar Rana, Senior Research Analyst, Prudent Equity.
14:48 (IST) 8 May 2023 Bank Nifty surges 750 pts
Bank Nifty surged 750 points or 1.77% to 43,418.55. The top gainers on the index are IndusInd Bank, AU Bank, Bandhan Bank, Kotak Bank and IDFC First Bank while the sole loser is Punjab National Bank.
13:39 (IST) 8 May 2023 Nifty downside support at 18018-17887 levels; Siemens, TCS among top stocks to buy
The equity benchmark index ended the previous week on a flat note. However, it was one of the busiest weeks during the year 2023 – both US Fed and ECB interest rate decision, a bunch of quarterly results from both India and the US, lots of economic data, April series F&O expiry and auto monthly sales data. Both Nifty and Bank Nifty sharply declined at the end of the week on Friday which resulted in the index losing the entire last three days’ gain.
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13:10 (IST) 8 May 2023 Nifty may rally as long as dips do not extend beyond 18000-17800; Bank Nifty appears exhausted
VIX had plunged to a near-record low in the previous week, pointing to a sense of comfort that traders are at, despite being at lofty levels. While VIX rose over 17% by the end of the week, it is not yet at a level that could indicate an outright collapse. Towards this end, we feel that the rally still has more wind in its sails, and is likely to resume and aim for a new record peak, as long as dips do not extend beyond 18000-17800 in Nifty. Bank Nifty appears exhausted and would require ongoing dips to be held above 42400, so as not to lose the momentum to penetrate 42900 again and get back to the upside trajectory. Else, expect 41700.
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13:08 (IST) 8 May 2023 Very strong case for investing in India; rising rates, volatile markets behind exits slowdown: Renuka Ramnath
Investors in the PE asset class are looking at long-term growth potential. In the current global market, this makes the investment case for India very strong. While market volatility does slow down overall fundraising, experienced managers with track records will continue to raise capital. Multiples has always believed in diversifying our LP (limited partners) base and raising capital from the domestic market as well. What is important to note is that the domestic investor base for alternatives is growing significantly. This augurs very well in stabilizing the availability of long-term capital to high-growth private enterprises.
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11:55 (IST) 8 May 2023 Bank Nifty jumps 1.5%; check top gainers/losers
Bank Nifty soared 630.05 points or 1.48% to 43,291.25. The top gainers on Nifty 50 were IndusInd Bank, AU Bank, Bandhan Bank, Axis Bank and Kotak Bank while the only losers were Punjab National Bank and Bank of Baroda.
11:52 (IST) 8 May 2023 Nifty jumps above 18250, Sensex surges 700 pts
Nifty 50 jumped 187.65 points or 1.04% to 18,256.65 and BSE Sensex surged 690.72 points or 1.13% to 61,745.01.
11:41 (IST) 8 May 2023 Paytm share price skyrockets over 5% today after Q4 loss narrows to Rs 167.5 cr
One 97 Communications (Paytm) share price surged 5.2% to Rs 721.5 today after the payment giant’s consolidated loss narrowed to Rs 167.5 crore in the fourth quarter ended March, compared to a loss of Rs 762.5 crore in the year-ago period. The consolidated revenue from operations jumped 51.5% to Rs 2,334.5 crore in Q4FY23 from Rs 1,540.9 crore in Q4FY22. In the past one month, Paytm shares have jumped 11.5% and 27% in the last one year.
Should you buy, sell or hold Paytm stock?
11:02 (IST) 8 May 2023 Coal India share price tanks 3% after Q4 net profit falls nearly 18%
Coal India share price tanked 3% to Rs 230.4 today after the company’s consolidated net profit fell 17.7% on-year to Rs 5527.62 crore in the March quarter on higher provisions made for wage revision of employees. Consolidated revenue for the quarter stood at Rs 35161.44 crore, up 17.3% on-year. The board recommended a final dividend of Rs 4 per share. Coal India shares have risen over 4% in the last one month and jumped 23% in the last one year.
Should you buy, sell or hold Coal India stock?
10:02 (IST) 8 May 2023 Nifty Auto soars 1%
Nifty Auto soared 134.85 points or 1.01% to 13,480.65. The top gainers on the index were Bharat Forge, Sona Coms, M&M, TVS Motors and Bajaj Auto while the sole loser was Tube Investments of India.
09:59 (IST) 8 May 2023 Fin Nifty jumps over 1%
Nifty Financial Services jumped 234.8 points or 1.23% to 19,258.65. The top gainers on the index were PFC, Bajaj Finserv, Kotak Bank, Bajaj Finance and REC Ltd while there were no losers.
09:54 (IST) 8 May 2023 Bank of India shares tank nearly 6%
Bank of India shares fell nearly 6% to Rs 81.26 despite the bank posting a standalone profit of Rs 1,350.4 crore for the March FY23 quarter, growing 123% over a year-ago period despite higher provisions. Net interest income grew by 38.6% on-year to Rs 5,523.84 crore in Q4FY23, with global advances rising 13% and deposits climbing 6.6%.
09:51 (IST) 8 May 2023 Nifty soars 100 pts, Sensex jumps 500 pts
Nifty soared 112.5 points or 0.62% to 18,181.5 and Sensex jumped 531.07 points or 0.87% to 61,585.36.
09:47 (IST) 8 May 2023 Adani Transmission, Adani Total Gas hit lower circuit
Adani Transmission and Adani Total Gas shares tanked 5% and hit a lower circuit today. Meanwhile, MSCI will lower the free float of two of the Adani Group companies, Adani Total Gas and Adani Transmission in its May index review. MSCI now sees the Adani Total Gas’ free float at 14% and Adani Transmission at 10%, from 25%.
09:45 (IST) 8 May 2023 Bank Nifty jumps over 500 pts; check top gainers/losers
Bank Nifty jumped 525.7 points or 1.23% to 43,186.9. The top gainers on the index were IndusInd Bank, AU Bank, Kotak Bank, IDFC First Bank and Federal Bank while there were no losers on the index.
09:40 (IST) 8 May 2023 Paytm shares jump over 4% after company narrowed its losses
One97 Communications (Paytm) shares over 4% to Rs 725.6 after the comapny narrowed its losses to Rs 168.4 crore in the March FY23 quarter, against a loss of Rs 761.4 crore in the same period last year. Consolidated revenue for the quarter grew by 51.5 % to Rs 2,334.5 crore compared to the corresponding period last fiscal.
09:38 (IST) 8 May 2023 Coal India shares tank nearly 3% after net profit falls over 17% on-year
Coal India shares fell 2.65% to Rs 231.1 after the company’s consolidated net profit fell 17.7% on-year to Rs 5527.62 crore in the March quarter. Consolidated revenue for the quarter stood at Rs 35161.44 crore, up 17.3% on-year. The company recommended a final dividend of Rs 4 per share.
09:35 (IST) 8 May 2023 Bank Nifty major resistance at 42920–43100
“Nifty Bank will have major resistance at 42920, and 43100 and if the price sustains above its next important resistances will be at 43200 and 43370. Nifty Bank’s nearest support is 42470, Buyer will try to defend this level but if they fail, the next support is 42260 and 42000,” said Ashish N. Ambala (Sr. Technical Analyst), Stock Market Today (SMT).
09:35 (IST) 8 May 2023 Bank Nifty may witness correction towards 42500-42300
“Bank Nifty if sustained below 43000 will witness further correction towards the 42500-42300 zone where the next demand area is visible. The upside resistance of 43000, if taken out decisively, will lead to further short covering toward 43,300 levels,” said Kunal Shah, Senior Technical & Derivatives Analyst at LKP Securities.
Share Market Outlook Today
09:35 (IST) 8 May 2023 Bank Nifty resistance placed at 42850, 43000 and 43200
“Support for Bank Nifty is around 42500, 42350 and 42200 which are expected to be held, whereas the resistance is placed at 42850, 43000 and 43200 above which Bank Nifty will start to regain its bullish momentum. As per Oi data, the short buildup is seen in the money calls and long unwinding is seen in out-of-the-money puts which indicates bearishness,” said Mitesh Karwa, Research Analyst at Bonanza Portfolio Ltd.
Share Market Outlook Today
09:35 (IST) 8 May 2023 Bank Nifty may extend its ongoing southward journey for 41800-41500
“Bank Nifty is looking to extend its ongoing southward journey for 41800-41500, which had acted as stiff resistance in the previous rally. A sustainable fall below 41500 will further deepen such recession towards 40500 – the 61.8% Fibonacci retracement of the previous major up leg,” said Arvinder Singh Nanda, Senior Vice President of Master Capital Services Ltd.
Share Market Outlook Today
09:34 (IST) 8 May 2023 Bank Nifty first support at 42372 and then 42024
Bank Nifty first support at 42372 and then 42024 while resistance at 43326 and 43932, according to Rahul Sharma, JM Financial.
Share Market Outlook Today
09:34 (IST) 8 May 2023 Nifty could fall another 1%-1.25%
“Nifty has immediate support at 18030 to 17990, if this support range gets a breakdown, Nifty will face more sell-off as per important support levels. It could fall another 1% to 1.25%. So our next possible support levels are 17940, 17880 and 17800. Nifty major resistances range is 18110 to 18145 and 18210 to 18240,” said V.L.A. Ambala (SEBI Registered Research Analyst), Stock Market Today (SMT).
Share Market Outlook Today
09:33 (IST) 8 May 2023 Nifty short-term outlook changed to negative for target of 17800
“We change our short-term outlook on the Nifty to negative for a target of 17800 which coincides with the 20-day moving average. On the weekly time frame, the Nifty has formed a Shooting Star candle stick pattern which has bearish implications. In terms of levels, 18220 – 18250 is the immediate hurdle zone while 17885 – 17850 can act as a support zone from a short-term perspective,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
Share Market Outlook Today
09:33 (IST) 8 May 2023 Nifty decisive move above 18200 may take it towards 18500–19000
“Nifty short-term trend remains positive as long as the index holds above 18000. A fall below 18000 may take the Nifty into the consolidation zone of 17500–18000. On the other hand, a rejection from the 18000 level may reintroduce a buying spree, which may take the Nifty back to above 18200; again, a decisive move above 18200 may take it towards 18500–19000,” said Rupak De, Senior Technical Analyst at LKP Securities.
Share Market Outlook Today
09:33 (IST) 8 May 2023 Nifty sturdy wall stands at 18150–18250
“As far as levels are concerned, 18000 followed by 17900 are to be seen as key supports for the Nifty, whereas on the flip side, the sturdy wall once again stands at 18150 – 18250. Meanwhile, traders should continue with a stock-centric approach and should use declines to add longs with a near-term perspective,” said Sameet Chavan, Head Research, Technical and Derivatives, Angel One Ltd.
Share Market Outlook Today
09:33 (IST) 8 May 2023 Focus on stock selection until Nifty resumes trend
“On the index front, 17,850 will continue to act as crucial support while the upside seems capped at 18,350 levels. We thus recommend focusing on stock selection and overnight risk management until Nifty resumes the trend,” said Ajit Mishra, VP – Technical Research, Religare Broking Ltd.
Share Market Outlook Today
09:32 (IST) 8 May 2023 Till Nifty holds above 18300, it is expected to scale higher
“Till the Nifty trades above 18300, the index is expected to scale higher. While on the downside, support is placed at 18000, followed by 17860 & 17700,” said Rohan Shah, head technical analyst at Stoxbox.
Share Market Outlook Today
09:32 (IST) 8 May 2023 Nifty poised to move towards 18000 and then 17950
“Nifty is now poised to move towards 18000 and then 17950, the vicinity of rising neckline support of the inverse head and shoulder pattern. If prices managed to fall below 17940, the next support will align around 17800. On the higher side, 18270 will act as the nearest resistance which if broken decisively will open room for further upside towards 18450,” said Arvinder Singh Nanda, Senior Vice President of Master Capital Services Ltd.
Share Market Outlook Today
09:32 (IST) 8 May 2023 Nifty first support at 18074 and then 18018
Nifty first support at 18074 and then 18018 while resistance at 18227 and 18324,according to Rahul Sharma, JM Financial.
Share Market Outlook Today
09:30 (IST) 8 May 2023 Nifty upswings expected in range of 18130-170 before bears regroup again
“Volatility is likely to be the key actor today. Expect initial swings inside 18000-18100. Post this phase, expect upswings to 18130-170 before bears regroup again. Alternatively, an outright rise above 18250 or a sharp fall to 17800 could encourage bulls again,” said Anand James, Chief Market Strategist at Geojit Financial Services.
09:28 (IST) 8 May 2023 Support from global markets, sustained FII buying can revive positive market sentiments
“Support from global markets and sustained FII buying can revive positive market sentiments which were impacted by heavy delivery selling of Rs 4500 crores in HDFC twins last Friday. Cues from the mother market US indicate that the fears from the regional banking crisis are receding. The April US jobs data, which came at a much better-than-expected 253000 jobs reflect a strong economy which may even avoid a recession. FIIs have been continuous buyers in India during the last seven trading sessions, cumulatively buying equity worth Rs 11700 crores. Rupee appreciation is aiding FII buying,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
09:26 (IST) 8 May 2023 Top gainers/losers
The top gainers on Nifty 50 were IndusInd Bank, Hindalco, Bajaj Auto, Power Grid and Kotak Bank while the losers were Coal India, Adani Enterprises, Sun Pharma, Adani Ports and SBI Life.
09:26 (IST) 8 May 2023 Bank Nifty jumps 350 pts; PSU Bank falls 0.67%
In sectoral indices, Bank Nifty surged 344.6 points or 0.81% to 43,005.8 while Nifty PSU Bank fell 27.75 points or 0.67% to 4,125.85.
09:24 (IST) 8 May 2023 Nifty, Sensex open in green
The NSE Nifty 50 jumped 81.55 points or 0.45% to 18,150.55 and BSE Sensex soared 296.41 points or 0.49% to 61,350.7.
09:14 (IST) 8 May 2023 Nifty, Sensex may open higher
“Markets are seen opening firm on the back of strong positive cues from the US gauges on Friday after its nonfarm payrolls data showed that the US economy created more jobs in April than expected, thus helping ease recession worries. However, uncertainty still exists over how long the Fed will keep interest rates elevated in its efforts to rein in inflation. Technically, the Nifty options data suggests the index is likely to be in a trading range of 17800-18500 zone,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
08:32 (IST) 8 May 2023 US indices end broadly in green
The US market ended Friday’s session broadly in green – Dow Jones Industrial Average (DJIA) surged 1.65%, S&P 500 soared 1.85% and the tech-heavy Nasdaq skyrocketed 2.25%.
08:31 (IST) 8 May 2023 Asian markets trade mostly in green
Asian markets were trading mostly in green – Hong Kong’s Hang Seng rose 0.73%, China’s Shanghai Composite jumped 1.36%, South Korea’s KOSPI climbed 0.87% while Japan’s Nikkei 225 fell 0.66% on Monday.
08:30 (IST) 8 May 2023 SGX Nifty trades in green
The Nifty futures on the Singapore Exchange (SGX) were trading 33.5 points or 0.18% higher at 18,157.5 in today’s early morning trade.