Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed in negative territory on April 16. The NSE Nifty 50 lost 95.75 points or 0.43% to close at 22,176.75, while the BSE Sensex pulled back 386 points or 0.53% to finish at 73,014.04. Nifty Bank dropped 178.40 points or 0.37% to close at 47,594.85.
The NSE Nifty 50 closed 0.43% lower at 22,176.75, while the BSE Sensex closed 0.53% lower at 73,014.04.
Eicher Motors, Divi’s Laboratories, Titan, ONGC, and Hindustan Unilever were the top gainers in the Nifty 50. While Infosys, LTIMindtree, IndusInd Bank, Bajaj Finserv, and Wipro were the major laggards in the Nifty 50 on April 16 during later hours.
Courtesy: NSE
The stock of Hindustan Aeronautics rose 3% to hit a fresh 52-week high of Rs 3,738.95 after it clarified that only Request for Proposal (RFP) has been issued to the company by defence ministry in April 2024 and the contract is yet to be signed.
“We would like to inform that, Acceptance of Necessity (AON) was accorded by Defence Acquisition Council (DAC) ·in November 2023 for procurement of LCA Tejas MK1A aircraft from HAL, which was informed to the Stock Exchanges on 30th November, 2023. Subsequently, HAL received Request for Proposal (RFP) for 97 LCA Tejas MK1A aircraft in April 2024. On submission of price bid by HAL, contract negotiations would be held with the customer and subsequently the contract with IAF will get concluded,” the company said in an exchange filing.
Courtesy: NSE
The stock of ABB India rose 1.2% to an intraday high of Rs 6,640.45 after the company launched two new products: low voltage IE4 cast iron super premium efficiency motors and IE3 aluminium motors.
Courtesy: NSE
Eicher Motors, ONGC, Titan, Divi’s Lab, and Hindustan Unilever were the top gainers in the Nifty 50. While LTIMindtree, Infosys, IndusInd Bank, Bajaj Finserv, and Tech Mahindra were the key laggards in the Nifty 50 on April 16.
The Nifty 50 was down 109.90 or 0.49% at 22,162.60, while Sensex was down 450 points or 0.61% at 72,950.63.
“The USD-INR 26 April futures contract remained within a narrow range. According to the daily technical chart, the pair is currently positioned above its moving average trend-line support level of 83.36, with the RSI holding above the 50 mark. However, the MACD indicates negative divergence, signalling potential downward pressure, and the pair encounters significant resistance at higher levels. On the daily chart, support is evident at 83.30-83.05, while resistance is noted at 83.70-83.94. With the pair trading above its support level at 83.36, it is anticipated to fluctuate within the range of 82.74-84.10 for the remainder of the week,” said Rahul Kalantri, Vice President of Commodities at Mehta Equities.
The stock of Happy Forgings rose 7% to an intraday high of Rs 969.50, compared to its previous close of Rs 905.35Come from Sports betting site VPbet. It hit the 52-week high of Rs 1,087.40 on December 27. It touched its 52-week low of Rs 813.20 on March 18Come from Sports betting site.
Courtesy: BSE
Shares of Jio Financial Services rose 5% to an intraday high of Rs 371.95 after BlackRock and the company signed to form a 50:50 joint venture to form a wealth management company.
Courtesy: NSE
ONGC, Eicher Motors, BPCL, Tata Steel, and Hero MotoCorp were the top gainers in the Nifty 50. While LTIMindtree, IndusInd Bank, Bajaj Finserv, Bajaj Finance, and Infosys were th major losers in the Nifty 50 on April 16 early trading hours.
Courtesy: NSE
The NSE Nifty 50 opened 0.60% lower at 22,138.95, while the BSE Sensex closed 0.65% lower at 72,925.36.
“Bank Nifty also witnessed correction and closed down 791 points. The next crucial Fibonacci support is placed at 47443 which also coincides with the 20-day moving average. Thus, 47400 – 47300 is the crucial support zone while 48250 – 48300 is the immediate hurdle zone from a short-term perspective. Minor degree bounce backs should be used as a selling opportunity,” said Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas.
On Monday, Nifty opened gap down and drifted lower during the course of the day to close with a deep cut of 242 points.
“On the daily charts, we can observe that the Nifty is in the process of retracing the rise it has witnessed from 22710 – 22776. The key 50 and 61.82% Fibonacci retracement levels are placed at 22240 – 22117. The daily momentum indicator has triggered a fresh negative crossover which is a sell signal. Thus, in case of a bounce towards 22350 – 22370, it should be used as a selling opportunity. On the upside, the gap area formed today in the range 22420 – 22500 shall act as an immediate hurdle from a short-term perspective,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.
Balrampur Chini Mills, Bandhan Bank, Exide Industries, GNFC, Hindustan Copper, India Cements, Metropolis, National Aluminium, Piramal Enterprises, SAIL, and Zee Entertainment Enterprise were on the F&O ban list on April 16.
Foreign institutional investors (FII) sold shares net worth Rs 3,268.00 crore. However, domestic institutional investors (DII) bought shares net worth Rs 4,762.93 crore on April 15, 2024, according to the provisional data available on the NSE.
China’s GDP grew 5.3% in Q1, beating expectations. The country built factories and exported goods heavily as it was earlier seeing a crisis in the real-estate sector.
WTI crude prices were trading at $86.09 up by 0.39%, while Brent crude prices were trading at $90.75 up by 0.37%, on Tuesday morning.
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, traded higher, 0.13% at 106.31.
The Wall Street or US market fell as yields shot up. Also, market participants are awaiting Israel’s response to Iran’s strike over the weekend. The S&P 500 was down 61.59 points or 1.20% at 5,061.82. While the Dow Jones Industrial Average finished trading down 248.13 points or 0.65% at 37,735.11. The tech-heavy index Nasdaq Composite fell 290.08 points or 1.79% to settle at 15,885.02.
