Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed in positive territory on April 22. The NSE Nifty 50 gained 189.40 points or 0.86% to close at 22,336.40, while the BSE Sensex jumped 560.29 points or 0.77% to finish at 73,648.62. Nifty Bank gained 351 points or 0.74% to close at 47,924.90.
The NSE Nifty 50 closed 1.01% higher at 22,370.50, while the BSE Sensex closed 0.77% higher at 73,648.62.
BPCL, HDFC Bank, JSW Steel, IndusInd Bank, and Bajaj Auto were the top gainers in the Nifty 50. While NTPC, HDFC Bank, JSW Steel, IndusInd Bank, and Bajaj Auto were the major laggards in the Nifty 50 on April 22 during later hours.
Courtesy: BSE
Courtesy: NSE
HDFC Bank’s shares opened Monday’s trade with a subdued response, despite showing gains initially following the lower-than-expected Q4 profit due to increased provisioning.
During the January-March quarter, the bank reported a standalone net profit of Rs 16,500 crore, up from Rs 16,400 crore in the previous quarter. However, the stock later saw a decline of over 1% from the day’s high, trading down by 0.89% at Rs 1,517.60 on the NSE.
Read More: Brokerages bet on HDFC Bank’s margin and pricing strategies despite lower than expected Q4 profit
Motilal Oswal Financial Services, Bandhan Bank, Lupin, Dixon Technologies, and Hindustan Petroleum were the top gainers in the Nifty Midcap 50. While Persistent Systems, Vodafone Idea, Tata Communications, Max Health, and Indian Hotels were the key laggards in the Nifty Midcap 50 on April 22.
Courtesy: NSE
Shares of Wipro rose 3% to an intraday high of Rs 466.15 despite reporting a loss of 7.6% in the Q4 of FY24. The company hit its 52-week high of Rs 545.90 on February 19. It touched its 52-week low of Rs 359 on April 20, 2023.
During today’s early morning trading session, IREDA, the nation’s largest pure-play green financing NBFC, saw its share price surge by 11.40% to reach Rs 179 apiece. This uptick was driven by investor optimism sparked by the company’s strong financial performance in Q4FY24 and for the full fiscal year of FY24.
Reliance Industries’ shares experienced a slight increase in trading on Monday, April 22, in anticipation of the company’s quarterly results for the quarter and financial year ending March 31, 2024. The share is trading higher by 0.26% at Rs 2,947.95 on NSE.
Read More: Reliance share in focus ahead of Q4 earnings- A look at how the stock performed this year
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The NSE Nifty 50 was up 154 points or 0.69% at 22,301, while the BSE Sensex was up 422 points or 0.58% at 73,510.08.
BPCL, Shriram Finance, Wipro, Eicher Motors, and Tata Consumer Products were the top gainers in the Nifty 50. While NTPC, HDFC Bank, JSW Steel, and ITC were the major losers in the Nifty 50 on April 22.
Courtesy: BSE
Courtesy: NSE
Shares of Gujarat State Petronet fell 20% to get locked in the price band of Rs 302.15 after the Petroleum and Natural Gas Regulatory Board slashed the pressure transmission tariff on Gujarat State Petronet’s Gujarat pipeline network by 47%. The company touched its 52-low of Rs 254.50 on November 01, 2023.
“The Bank Nifty Index displayed strong bullish momentum as it formed a bullish piercing candlestick pattern from the support level of 46,500. The immediate resistance for the index is located at 48,000, where there is a significant buildup of open interest on the call side, indicating a potential hurdle. The index has established immediate support between 47,200 and 47,000. Any pullbacks towards this support zone are seen as buying opportunities, suggesting continued bullish sentiment if these levels hold,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
BPCL, Ultratech Cement, Axis Bank, Bajaj Finance, and L&T were the top gainers in the Nifty 50. While HDFC Bank, M&M, Grasim Industries, ONGC, and Reliance Industries were the major losers in the Nifty 50 on April 22.
Courtesy: NSE
Commenting on the Technical outlook of Nifty Rupak De, Senior Technical Analyst, LKP Securities, said On the daily chart, a piercing line pattern has formed, often indicating a bullish reversal following a correction. Additionally, the indicator has surpassed the 55EMA, a short-term moving average. A close above this moving average signifies a positive short-term trend. Looking ahead, bulls may drive the Nifty’s recovery towards 22,300. Furthermore, a decisive breakthrough above 22,300 could trigger a sustained rally towards 22,600. On the downside, support on a closing basis is situated at 22,000.
The NSE Nifty 50 opens up by 0.86% at 22,336.90, while the BSE Sensex jumps 0.79% to 73,666.51 in the opening trade.
Shares in the Asia-Pacific region traded positively on Monday. The Asia Dow is down by 0.95%, while Japan’s Nikkei 225 is in the green, up by 0.36%. Hong Kong’s Hang Seng index has surged by 1.79%, and the benchmark Chinese index Shanghai Composite is slightly down by 0.03%.
The NSE has added Balrampur Chini Mills, Bandhan Bank, Biocon, Exide Industries, Idea, Metropolis, Piramal Enterprises, SAIL, and Zee Entertainment Enterprise in F&O on April 22, 2024.
Foreign institutional investors (FII) bought shares worth net Rs 129.4 crore, while domestic institutional investors (DII) sold shares worth net Rs 52.5 crore on April 19, 2024, according to the provisional data available on the NSE.
On Monday morning, WTI crude prices are trading lower at $81.74, marking a decrease of 1.68%, while Brent crude prices are at $86.78, down by 0.34%.
The US Dollar Index (DXY), gauging the dollar’s strength against a basket of six major foreign currencies, saw a slight decline of 0.06%, trading at 106.06.
According to Bloomberg, the U.S. stock market faced renewed pressure as major tech stocks saw a decline, with traders exercising caution due to geopolitical risks preceding the weekend. The Nasdaq Composite, dominated by tech companies, concluded with a loss of 319.49 points or 2.05%, closing at 15,282.01. Similarly, the S&P 500 declined by 43.89 points or 0.88% to settle at 4,967.23, while the Dow Jones Industrial Average saw a modest increase, rising by 211.02 points or 0.56% to ended at 37,986.40.