India VIX was trading with losses. (Image: REUTERS)
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets began the day’s trade in the positive territory, recouping some losses from last week. S&P BSE Sensex opened above 55,700 but was soon down from highs but still in the green, gaining 0.53%. Nifty 50 was hovering around 16,550 levels, up 0.5%. Bank Nifty jumped 0.4% to trade above 35,100. Broader markets were sitting in the green. HCL Technologies was up 3.23% as the top Sensex gainer, followed by Tech Mahindra, TCS, and Tata Steel. In the red were Power Grid, down 1%, followed by HUL, Bajaj Auto, and Mahindra & Mahindra. India VIX was down in the red.
Commodity prices traded mixed with most of the commodities in non-agro segment traded under pressure witnessing selling for the week. Gold prices managed to end in green while silver prices declined following weak global cues. Crude oil and base metals plunged on-demand growth worries over rising COVID cases.
Sensex and Nifty continue to move lower, trimming opening gains. Nifty was below 16,450.
Share price of Nuvoco Vistas rebounded from the listing lows but was still well below its IPO price band. The debutant stock started trading at 17% discount to the issue price.
Equity benchmarks witnessed a roller coaster ride during the previous week amid volatile global cues. Nifty ended the truncated week at 16451, down 0.5%. However, broader market indices extended profit booking as Nifty midcap, small-cap lost 1%, 3%, respectively. Sectorally, IT, FMCG stayed at forefront while financials and metal underperformed.
Nuvoco Vistas shares made a weak listing on the stock exchanges, even though benchmark indices and broader markets were trading with gains. Shares of the company began trading at Rs 471 apiece today, down 17.37% from the upper end of the IPO price band of Rs 570 per share. With this Nuvoco Vistas became the second recent listing to trade at discount on listing, after CarTrade Tech. Nuvoco Vistas, the fifth largest cement player in the country by capacity, had entered the primary market earlier this month to raise Rs 5,000 crore. The massive IPO of the company was subscribed 1.71 times by investors. Upon listing the market capitalization of Nuvoco Vistas was Rs 16,822 crore.
Zomato share price dropped more than 5% today morning. Anchor investors of Zomato can from today sell the shares of the company.
"After last week's rampant sell off globally, today's trade setup hints at a recovery as Asian markets have opened higher as investors try to take advantage of the corrected prices. Japan, South Korea and Australian markets edged higher while Dow Futures is also trading on the upside. Oil prices show recovery, Brent rises after taking support at crucial levels. On the domestic front, all eyes would be on the announcement of the National Monetization Pipeline (MNP) which will lay a roadmap over asset monetization programs of state infrastructure over a period of next 4 years. Aurobindo Pharma cancels the deal to buy 51% stake in Cronus Pharma Specialities, Spicejet introduces 14 new domestic flights, board of SRF to consider issue of bonus shares. As several more companies continue to apply to SEBI for listing, coming weeks shall continue to witness IPO frenzy. Nuvoco Vistas to list on bourses today. On the technical front, 16,300 and 16,750 are immediate support and resistance in Nifty 50," said Mohit Nigam, Head - PMS, Hem Securities.
India VIX was down more than 3% on the opening bell sitting at 13.5 levels.
Domestic equity markets started the day in the positive territory. Broader markets mirror up-move. Bank Nifty jumps 0.82%.
"Nifty is expected to open positive at 16580, up by 170 points since yesterday's close. Nifty has strong support at 16350 and 16400 levels. It may face resistance at 16600 and 16620 levels. New buying should be considered if Nifty closes above 16650 with higher than average volumes," said Gaurav Udani, Founder & CEO, ThincRedBlu Securities.
Sensex extending gains in pre-open session and zoomed past 55,600 levels. Nifty 50 was nearing 16,600.
Sensex regains 55,500 levels during the pre-open session on Monday while the NSE Nifty 50 index was above 16,500.
Food-tech giant Zomato could be active on the stock exchanges today. From today the anchor investors of Zomato can sell shares of the company. Zomato had managed to raise Rs 4,196 crore from a total of 186 anchor investors just ahead of its initial public offering. Marquee investors such as Tiger Global Investment Fund, Blackrock Global Funds, Fidelity Funds, JP Morgan, Morgan Stanley, T. Rowe Price, SBI, Kotak funds, Government of Singapore, Goldman Sachs, ICICI, HDFC, and UTI MF invested in the company through the anchor investor portion.
Infosys could be in action today as the company faces heat from the government officials for its failure to offer seamless operation of the Income Tax portal. The same was unavailable for two straight days. Finance Minister Nirmala Sitharaman has summoned Infosys MD and CEO Salil Parekh today.
SGX Nifty is up 170 points ahead of the day's opening bell. SGX Nifty has extended its gains from being 140 points higher earlier in the day.
Nifty started the previous week on a flat note and traded with extreme volatility on either side throughout the week. However, Friday's sell-off dragged index lower to end near low's. Nifty closed at 16451 with a loss of 79 points on a weekly basis.
The Benchmark index has formed a bearish harami candlestick pattern in the weekly time frame at the all-time high levels, the bearish pattern will be confirmed when the prices will close below the harami pattern. Momentum oscillator RSI (14) has dropped sharply from its overbought levels and currently reading at 65 levels with bearish crossover on the daily interval.
SGX Nifty was up more than 170 points on Monday morning ahead of the day's trade. Asian stock markets were sitting in the green.
Amid a raging row over the hefty taxes on petrol and diesel, NITI Aayog is learnt to have proposed a formula whereby the two motor fuels and electricity could be brought under the goods and services tax (GST) in one go, without causing much Centre-state tussle. According to the think-tank’s formula, the Centre would compensate the states for potential revenue losses on account of shifting electricity – which is currently being taxed by the states exclusively – to GST for about six years.
The Indian stock market will see the listing of Nuvoco Vistas today. The Rs 5,000-crore Nuvoco Vistas IPO got 1.71 times subscription, and was available at a price band of Rs 560-570 per share. In the primary market, Nuvoco shares were seen trading at discount to IPO price. Nuvoco shares were trading at Rs 556, a discount of 2.5 per cent in the grey market, over the issue price, according to the people who deal in unlisted shares of the companies.
Share Market LIVE: Sensex trims gains, trades flat, crucial for Nifty to hold above 16,400; IT stocks rally - The Financial Express
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