Share Market Today LIVE | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates Thursday 18 May

NSE Nifty 50 pared early gains and was trading at 18,199.7. BSE Sensex rose 100.68 points or 0.16% to 61,661.32. The top gainers on Nifty 50 were Bajaj Finance, Bharti Airtel, ICICI Bank, Hero Moto Corp and Kotak Bank while the losers were Divis Lab, Adani Ports, Dr Reddy, Sun Pharma and Grasim.

Stocks To Watch: ITC, SBI, HDFC Bank, Zydus Wellness, Vedanta, NDTV, NHPC

FIIs turn bullish on India as EM peers see a flight

Highest dividend-yield PSU shares: Coal India, REC, ONGC, NALCO, Power Grid

Nifty to break losing streak or give up 18,100? Check US stocks, Asian markets, FII activity, SGX Nifty, more

Yobee has announced a partnership with IIFL Securities to launch Tradebox to simplify and enhance the systematic trading experience for advisors, investors, and traders. As a part of the partnership, Yobee will allow IIFL Securities’ customers to access the Tradebox application within the IIFL app and web. Additionally, customers can also begin their trading journey from the Tradebox website using the “Login with IIFL Securities” feature.

REC and Coal India shares were among the top dividend paying PSU scrips in the last financial year, with yields of 10% each in 2022-23, according to a list of highest dividend-yielding PSU shares compiled by Axis Securities. Despite having one of the lowest dividend yields on the table, Rites paid out the highest dividend, at Rs 404 per equity share. The other lowest dividend-yielding firm on this list was NHPC, with a yield of 4%.

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“Bank Nifty breached the 43700 zone during the intraday session on Wednesday to turn down the daily trend but still, the last-hour pullback has slightly improved the bias to some extent anticipating for some revival. A decisive breach below the 43300 zone would further weaken the bias to anticipate further slide in the coming days. Bank Nifty would have a daily range of 43300-44100 levels,” said Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher.

“Nifty gave a negative closing for the second consecutive day indicating two weak candles after the recent rally to anticipate a trend reversal for the index having 18000 as the psychological support as of now. The level near 17800 of the significant 200DMA would be the major support zone for the index if there is any major slide witnessed in the coming days. The support for the day is seen at 18050 levels while the resistance is seen at 18300 levels,” said Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher.

“Expect dips to 18167 if initial upsides fail to help Nifty float above 18230. Alternatively, if upswings take off without dips, expect a challenge from the 18290 regions, but if it turns lower thereof does not stretch beyond 18230, expect 18660 shortly,” said Anand James, Chief Market Strategist at Geojit Financial Services.

“The market is delicately poised with both bullish and bearish signals. Profit booking at higher levels and the buildup of short positions are bearish signs. But optimism regarding the resolution of the US debt ceiling impasse is a bullish sign. Since a failure to raise the debt ceiling and the consequent default will have catastrophic consequences not only for the US economy and financial system but also for the global economy and global financial system, a resolution to the impasse will be reached even if at the eleventh hour. Positive global cues will embolden the bulls to charge once again towards new highs. Two major results today -SBI and ITC- are likely to be very good and can aid the bulls,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

NHPC share price jumped 1% to Rs 44.79 after the company received a letter of intent from Gujarat Urja Vikas Nigam Limited (GUVNL) for a 200 MW capacity solar power project within 600 MW GSECL’s Solar Park at Khavda (GSECL Stage-1). The estimated financial implication for the project is Rs1,007.60 crore.

State Bank of India share price jumps 0.61% to Rs 590.1 ahead of the Q4 results announcement. Analysts expect SBI to extend its record-high PAT performance. In the previous quarter, SBI reported 66% growth in profit-after-tax at Rs 14,205 crore.

ITC share price jumped 0.78% to Rs 431 ahead of the Q4 results announcement. Industry experts predict that the FMCG company will see double-digit growth in net profit, while revenues are expected to grow between 3-6%.

Bank Nifty jumped 350 points or 0.75% to 44,049.2. The top gainers were Axis Bank, Kotak Bank, HDFC Bank, AU Bank and IDFC First Bank while there were no losers.

The NSE Nifty 50 jumped  96.65 points or 0.53% to 18,278.40 and BSE Sensex surged 311.62 points or 0.51% to 61,872.26.

Benchmark indices ended the pre-opening session in green. The NSE Nifty 50 surged 105.75 points or 0.58% to 18,287.50 and BSE Sensex jumped 377.21 points or 0.61% to 61,937.85.

“Bank Nifty is seen to be trading with a sideways to negative trend from the last two days but the undertone remains bullish as long as it holds the levels of 43450 as put writers are fiercely active on 43500 and 43600 and call writers are active on 43800 and 4400. Technical indicator RSI is at around 63 and is showing strength by sustaining above 50 levels. Support placed at 43600, 43500 and 43350 and resistance at 43800, 44000 and 44200,” said Mitesh Karwa, Research Analyst at Bonanza Portfolio Ltd.

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“Bank Nifty continued to face selling pressure from a higher level and the index closed below the level of 44000. The highest open interest on the call side is built up at 44000 Ce stroke and a break above this will resume the up move. The downside support stands at 43500 and a break below this will accelerate the down move,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.

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Bank Nifty first support at 43487 and then 43231 and resistance at 43977 and then 44211, according to Rahul Sharma, JM Financial.

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“Global markets are seeing a selloff as the debt ceiling negotiations continue. Investors remain cautious as the US faces the possibility of defaulting at the start of June. On the domestic front, Nifty is now facing resistance at ~18300, after moving in the last few days. We expect some consolidation over the next few days before a fresh leg of the rally starts,” said Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services Ltd.

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“The daily chart’s profit-taking is likely to continue. Above 18460, Nifty might face resistance with immediate support visible at 18100. Therefore,  the index is expected to keep rising in the future until the index surpasses 18,460. On the downside, support lies at 18,100, followed by 18,030 and 18,000,” said Rohan Shah, head technical analyst at Stoxbox.

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“Amid the selling pressure the Nifty has managed to hold on to the crucial support level of 18100, until the Nifty manages to stay above this level the uptrend is intact. On the flip side, there are multiple support parameters in the form of the 20-day moving average (18053) and the 38.2% Fibonacci retracement level (18113) of the rise from 17553–18459 are placed which shall provide cushion and restrict a deep correction,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.

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“Nifty has breached the crucial support level of 18250 and also formed a bearish candle on daily charts which is largely negative. For traders 18250 and 18300 would act as an immediate resistance area while 18100-18050 could be important support levels for the bulls,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.

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“On an immediate basis, a post-correction pullback may take the Nifty back to 18300, where bears might be awaiting to re-enter the market. A rejection from the 18300 may trigger selling pressure once again. Immediate support is visible at 18100,” said Rupak De, Senior Technical Analyst at LKP Securities.

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“NSE Nifty 50 breached a crucial support level at 18211 on Wednesday, indicating further downward movement ahead. Below 18211, a cascade of selling towards the 17837 mark may unfold. However, on the upside, the Nifty encounters formidable obstacles at the 18473 mark. In these uncertain times, caution becomes the prevailing sentiment,” said  Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

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“Profit booking extended yesterday in key indices but it was small caps which continued to do well. VIX did not rise in spite of the correction in the market means the downside should be limited. NSE Nifty 50 has a positive bias above 18225. Nifty first support at 18100 and then 17950 while resistance at 18225 and then 18325,” said Rahul Sharma, JM Financial.

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The National Stock Exchange has Delta Corp, Balrampur Chini Mills, Mannappuram Finance, GNFC and Punjab National Bank, Aditya Birla Fashion and Retail and LIC Housing Finance securities on its F&O ban list for 18 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.

Asian markets were trading higher – Hong Kong’s Hang Seng rose 0.78%, China’s Shanghai Composite index climbed 0.58%, South Korea’s KOSPI was up 0.47% and Japan’s Nikkei 225 jumped 1.24%.