13:51 (IST) 26 May 2023
Market update: Nifty, Sensex rise sharply
Domestic indices NSE Nifty 50 and BSE Sensex gain sharply. Sensex added about 500 points to 62,367, while Nifty 50 gains around 150 points to 18,463.
12:41 (IST) 26 May 2023
Market update: Nifty, Sensex soar 0.6%
Nifty 50 jumped over 100 points intraday to 18,427. Sensex reclaimed 62,200 by adding 360 points to trade at 62,236.
12:00 (IST) 26 May 2023
ONGC share price tanks 2%
ONGC share price tanked up to 2% ahead of its Q4 earnings result today. The scrip touched a low of Rs 162.30, compared to yesterday’s closing price of Rs 166.
09:58 (IST) 26 May 2023
Page Industries share price tanks 13% after Q4 net profit falls 59%
Page Industries share price tanked 13% to Rs 35,766 today after the company’s net profit in Q4FY23 fell 58.9% on-year to Rs 78.35 crore, from Rs 190.52 crore in the corresponding quarter previous year. The company’s board recommended its fourth interim dividend of Rs 60 per equity share. Most analysts have downgraded the stock rating to ‘sell’, and have cut their target prices. Page Industries stock has fallen over 12% in the past one month, and nearly 14% in the past one year.
09:35 (IST) 26 May 2023
ZEEL share price gains over 1%
Zee Enterprises Entertainment share price rose 1.29% to 181.05 despite the company posting a consolidated net loss of Rs 196 crore for the quarter ended on March 31, 2023, on the back of an advertising slowdown, missing street estimates by a wide margin.
09:33 (IST) 26 May 2023
Vodafone Idea share price jumps 2%
Vodafone Idea share price jumped 2% to Rs 7.18 after the telecom operator saw its net loss for the January-March quarter narrowing to Rs 6,419 crore from Rs 7,990 crore in the preceding quarter, owing to fall in-network expenses, finance cost, and depreciation, among others. The company lost 2.7 million mobile subscribers in the quarter, taking its subscriber base to 225.9 million at the end of March.
09:32 (IST) 26 May 2023
HDFC share price falls over half a percent
HDFC share price fell 0.62% to Rs 2633 today. The company after divesting 2.15% of its stake in Siti Networks on 3 May, further sold 1,86,38,101 shares representing 2.14% of the paid-up share capital of Siti on Thursday,
09:28 (IST) 26 May 2023
Nifty IT jumps 220 points; check top gainers
Nifty IT jumped 221.45 points or 0.77% to 29,150.20. The top gainers on the index were Persistent Systems, L&T Technology Services, MPhasis, LTIM, Coforge and Tech Mahindra while there were no losers.
09:26 (IST) 26 May 2023
Bank Nifty falls below 43650; check top gainers/losers
Bank Nifty dipped 53.40 points or 0.12% to 43,628. The top gainers on the index were IDFC First Bank, PNB, Federal Bank, SBIN and Kotak Bank while the losers were Axis Bank, Bandhan Bank, IndusInd Bank, ICICI Bank and HDFC Bank.
09:20 (IST) 26 May 2023
Nifty, Sensex open in green
The NSE Nifty 50 gained 29.75 points or 0.16% to 18,350.90 and BSE Sensex surged 130.58 points or 0.21% to 62,003.20.
09:10 (IST) 26 May 2023
Nifty, Sensex end pre-open in green
Benchmark indices ended the pre-opening session in the green. The NSE Nifty 50 rose 47.20 points or 0.26% to 18,368.35 and BSE Sensex jumped 112.74 points or 0.18% to 61,985.36.
08:43 (IST) 26 May 2023
Bank Nifty may move higher if it breaks 44000
“Bank Nifty managed to hold the support of 43400. This is a positive sign for the bulls, as it shows that there is still demand for the index at this level. The resistance is at 44000, where the highest open interest is built up on the call side. This means that there is a lot of potentials for the index to move higher if it can break through this resistance level,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
08:42 (IST) 26 May 2023
Bank Nifty undertone remains bullish as long as it holds 43500
“Till the time Bank Nifty breaks the 44050-44100 resistance and 44650-44700 support range it is expected to remain sideways due to the indecisive nature of the index. The undertone remains bullish as long as Bank Nifty holds the levels of 43500 as put writers are fiercely active on 43500 and 43000 and call writers are active on 44500 and 44000. Buy-on-dip strategy can be implemented for the coming week for targets of an all-time high if it closes above 44050,” said Mitesh Karwa, Research Analyst at Bonanza Portfolio Ltd.
08:42 (IST) 26 May 2023
Bank Nifty resistance placed at 44150
“Bank Nifty has support at 43350-43500 while resistance is placed at 44150 which is also close to all-time high levels,” said Deven Mehata, Equity Research Analyst at Choice Broking.
08:42 (IST) 26 May 2023
Bank Nifty first support at 43585 and then 43464
Bank Nifty first support at 43585 and then 43464 while resistance at 43920 and then 44135, according to Rahul Sharma, JM Financial.
08:41 (IST) 26 May 2023
Nifty immediate hurdle at 18420–18450
“The daily Bollinger bands are contracting which indicates a contraction of range and also suggests that there could be rangebound price action over the next few trading sessions. Overall, we still believe that the Nifty is in a consolidation mode and the range of consolidation is likely to be 18000–18400. In terms of levels, 18420–18450 shall act as the immediate hurdle while 18200–18180 is the crucial support zone to watch out for on the downside,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
08:41 (IST) 26 May 2023
Nifty uptrend expected to continue until 18040 is not breached
“Nifty remains in an uptrend with trend support placed at 18040. As long as the index maintains this level we expect the uptrend to continue. A breach could infuse volatility and we would watch out for further directional clarity. On the higher side resistance is seen at 18500 levels. Select energy and media stocks look interesting,” said Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities.
08:41 (IST) 26 May 2023
Nifty close above 18400-18450 could trigger next leg of the rally
“We saw a strong recovery from lower levels indicating overall strength in the market. We continue to expect a gradual up-move in the benchmark indices led by support-based buying. A Nifty close above 18400-18450 zones could trigger the next leg of the rally in markets,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
08:41 (IST) 26 May 2023
Nifty needs to sustain break above 18400–18450
“For the momentum to continue, Nifty needs to sustain a break above 18400–18450 levels. A move beyond these levels would end this consolidation phase and trigger momentum towards new highs for the coming month. On the flip side, 18200 is a significant level, as it coincides with the 20-day exponential moving average (EMA),” said Rajesh Bhosale, Technical Analyst at Angel One Ltd.
08:40 (IST) 26 May 2023
Expect waterfall of selling towards 18000 if Nifty breaches 18181
“Nifty is expected to aim its major hurdles at the 18473 mark. Nifty’s biggest support to watch is at 18181. Only below 18181, expect a waterfall of selling towards Nifty’s psychological 18000 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
08:40 (IST) 26 May 2023
Market will continue to buy on dips until Nifty’s 18050 level is not surpassed
“The general picture is positive, and the market will continue to buy on dips until the Nifty’s critical support level of 18050 on the downside is not surpassed. The volume profile indicates Index has strong support around the 18100-18200 zone. Coming to the OI Data, on the call side, the highest OI was observed at 18400 followed by 18500 strike prices while on the put side, the highest OI is at 18200 strike price,” said Deven Mehata, Equity Research Analyst at Choice Broking.
08:40 (IST) 26 May 2023
Nifty could retest the level of 18400-18450
“Nifty formed a bullish candle on daily charts which supports a further uptrend from the current levels. We are of the view that 20-day SMA or 18220 would be the sacrosanct support zone for the bulls. Above the same, the index could retest the level of 18400-18450. On the flip side, below 20-day SMA or 18220 uptrend would be vulnerable. Below the same, the market could slip till 18150-18100,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
08:40 (IST) 26 May 2023
Nifty first support at 18246 and then 18191
NSE Nifty 50 first support at 18246 and then 18191 while resistance at 18375 and then 18450, according to Rahul Sharma, JM Financial.
07:55 (IST) 26 May 2023
No stocks under F&O ban today
The National Stock Exchange has no securities on its F&O ban list for 26 May. According to the NSE, stocks are prohibited in the F&O sector when they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.
07:50 (IST) 26 May 2023
US indices end mostly in green
The US market ended the overnight session mostly in green – Dow Jones Industrial Average (DJIA) fell 0.11%, S&P 500 rose 0.88% and the tech-heavy Nasdaq jumped 1.71%.
07:49 (IST) 26 May 2023
Asian markets trade mixed
Asian markets were trading mixed – Hong Kong’s Hang Seng tanked 1.93%, China’s Shanghai Composite index dipped 0.30%, South Korea’s KOSPI rose 0.10% and Japan’s Nikkei 225 jumped 0.68%.
07:47 (IST) 26 May 2023
Nifty to extend gains or correction on cards? Check US stocks, Asian markets, FII activity, SGX Nifty, more
The SGX Nifty lost 0.28% in trade on Friday morning, signaling that domestic indices NSE Nifty 50 and BSE Sensex would open on a negative basis. “Global markets maintained their influence, exerting downward pressure on the domestic market in response to weaker cues from the US market and the recession in Germany. However, as US futures rose, propelled by a sharp increase in sales projections from chipmaker Nvidia, the domestic market was able to efficiently recoup its earlier losses,” said Vinod Nair, Head of Research, Geojit Financial Services.
