Share Market LIVE: Nifty, Sensex mild in green, global cues mixed; Reliance Industries, ITC lead gains

Share Market LIVE: Nifty, Sensex mild in green, global cues mixed; Reliance Industries, ITC lead gains

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Share Market LIVE: Nifty, Sensex mild in green, global cues mixed; Reliance Industries, ITC lead gains

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian benchmark indices BSE Sensex and NSE Nifty had a flat open after closing in the red on Wednesday. Share Market LIVE: Nifty, Sensex mild in green, global cues mixed; Reliance Industries, ITC lead gains Markets in the Asia-Pacific traded mostly higher as the US Fed signaled further rate hikes ahead. Go to Live Updates

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian benchmark indices BSE Sensex and NSE Nifty had a flat open after closing in the red on Wednesday. Nifty opened below the 18,000 level. Sensex opened 0.04% down at 60,328 and Bank Nifty started 25 points lower at 42,584. In the broader markets, all indices opened in the red, with Nifty Smallcap 100 losing 0.23%. Sectorally, Nifty IT, Nifty Media, Nifty PSU Bank opened with cuts, but on the flip side, Nifty FMCG, Nifty Metal and Nifty Pharma gain, with the fast-moving consumer goods index up 0.2%. Reliance and ITC lead gains on the Sensex-30 index.

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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates 6 January 2023

09:28 (IST) 6 Jan 2023

FII money chasing lower valuations

“The major drag on the market now is the sustained selling by FIIs. FIIs sold for the 10th consecutive day yesterday taking the cumulative selling to Rs 11400 crores. The underperformers of last year like China and Europe are doing well. Clearly, FII money is chasing lower valuations by selling in overvalued markets like India. This trend might continue imparting weakness in the Indian market. This trend will open opportunities for investors. FIIs will sell stocks in which they are sitting on profits, like the banking segment. And this segment continues to be strong. Globally, the phenomenon of good economic news becoming bad news for markets might continue in the near term.”

– Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

09:19 (IST) 6 Jan 2023

Markets at open

NSE Nifty and BSE Sensex witnessed a flat start after closing in the red yesterday. Nifty dropped 5 points to trade at 17,987, while Sensex was 0.04% down at 60,328. Bank Nifty had a flat start too, down 25 points at 42,584.

09:13 (IST) 6 Jan 2023

FIIs turning net sellers

“Caution is likely to prevail in early trades as overnight fall in the US markets and subsequent choppy trend in Asian equities could dampen local market sentiment. While worries over falling demand continue to weigh, FIIs too have been deserting local markets over the past week, selling to the tune of Rs 10,676 crores in the last 9 sessions. The only positive catalyst this morning is the sluggish WTI Oil price at $74 a barrel. Technically, for Nifty the immediate aggressive downside risk is seen at 17771 mark and then aggressive targets at 17461 mark. The index will gain strength only if it closes above its high of 18267 mark.”

– Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities

09:12 (IST) 6 Jan 2023

Sensex, Nifty flat during pre-open

Domestic indices NSE Nifty and BSE Sensex gained mildly during pre-open. Nifty added 8 points to reclaim the 18,000 level while Sensex ended 35 points higher at 60,388.

08:40 (IST) 6 Jan 2023

Technical Levels

“A reasonable negative candle was formed on the daily chart with long lower shadow. Technically this pattern indicates downside continuation pattern amidst volatility. The upside recovery of Thursday signal that buying is expected to emerge from near the lower support of around 17750-17800 levels. Negative chart pattern like lower tops and bottoms continued on the daily chart and the Nifty is expected to revisit the recent swing lows of 17775 levels in the short term. Any upside bounce from here could encounter resistance around 18100 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

08:30 (IST) 6 Jan 2023

Stocks under F&O ban on NSE

The National Stock Exchange has added Indiabulls Housing Finance to its F&O ban list for 6 January. According to the NSE, the stocks under the ban are prohibited in the F&O sector because they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for any F&O contracts in those stocks.

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08:17 (IST) 6 Jan 2023

Crude oil rises

Oil prices rebounded on Thursday amid dollar weakness and as investors emerged to buy dips after two sessions of steep losses, though economic concerns capped recovery. Brent crude futures had climbed 75 cents, or 1.0%, to $78.59 a barrel by 0400 GMT, while US West Texas Intermediate crude futures rose 77 cents, or 1.1%, to $73.61 a barrel.

08:02 (IST) 6 Jan 2023

FII and DII data

Foreign institutional investors (FII) sold shares worth Rs 1,449.45 crore, while domestic institutional investors (DII) offloaded shares worth Rs 194.09 crore on 5 January, according to the provisional data available on the NSE.

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08:02 (IST) 6 Jan 2023

Wall Street overnight

Overnight in the US, stocks fell and the Dow Jones Industrial Average fell 1.02%, the S&P 500 shed 1.16%, and the Nasdaq Composite slipped 1.47%. All three Wall Street averages are on track to notch five weeks of losses.

08:01 (IST) 6 Jan 2023

Asian market watch

Markets in the Asia-Pacific traded mostly higher as the US Fed signaled further rate hikes ahead. Japan’s Nikkei 225 rose 0.4% and the Topix inched up 0.2%. South Korea’s Kospi gained 0.75%, and Hong Kong’s Hang Seng index rose 0.6%. In mainland China, the Shanghai Composite was marginally up, while the Shenzhen Component fell 0.1%.

First published on:

06-01-2023 at 07:59:46 am