Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Thursday’s volatile session in the red. The NSE Nifty 50 sank 91.85 points or 0.49% to 18,634.55 and the BSE Sensex plunged 294.32 points or 0.47% to 62,848.64. In sectoral indices, Bank Nifty tanked 280.05 points or 0.63% to 43,995.25, Nifty Auto fell 0.86%, Nifty IT tumbled 1.12%, Nifty Pharma plunged 1.03% and Nifty Realty sank 1.59%. The top gainers on Nifty 50 were NTPC, JSW Steel, ONGC, Power Grid and Larsen & Toubro while the losers were Grasim, Kotak Bank, Sun Pharma, Tata Consumer and Tech Mahindra.
10:12 (IST) 8 Jun 2023 Nifty Realty falls over half a percent as RBI keeps repo rate unchanged
Nifty Realty fell 3 points or 0.59% to 503.30. The top losers were Lodha, Brigade and DLF while the gainers were Prestige and Indiabulls Real Estate.
10:11 (IST) 8 Jun 2023 System liquidity could rise: RBI Guv
System liquidity could rise on deposit of Rs 2000 notes, said RBI Guv Das.
10:09 (IST) 8 Jun 2023 Previous rate hikes still working through system
RBI MPC Update: Previous rate hikes in repo rate, totaling 250 bps since May 2022 are still working through the system, said RBI Guv Das.
10:09 (IST) 8 Jun 2023 Bank Nifty jumps 150 pts as RBI keeps repo rate unchanged
Bank Nifty jumped 147.30 points or 0.33% to 44,422.60. The top gainers were AU Bank, Federal Bank, and IndusInd Bank while the losers were Kotak Bank and Axis Bank.
10:07 (IST) 8 Jun 2023 RBI MPC stance
RBI MPC Update: Reserve Bank of India MPC votes 5:1 to maintain ‘Withdrawal of Accommodation’ stance.
10:06 (IST) 8 Jun 2023 RBI MPC maintains repo rate at 6.5%
RBI MPC Update: Reserve Bank of India keeps repo rate unchanged at 6.5%
10:05 (IST) 8 Jun 2023 Nifty gains 20 pts; check top gainers/losers
Nifty 50 rose 20.25 points or 0.11% to 18,746. The top gainers were NTPC, JSW Steel, Power Grid, and ONGC while the losers were Kotak Bank, Eicher Motors and BPCL.
09:57 (IST) 8 Jun 2023 Gold price flat as traders await RBI monetary policy verdict; silver gains mildly
Gold rate is trading flat on Thursday, while the silver rate is up 0.17%. On Multi Commodity Exchange, gold August futures were trading at Rs 59,483 per 10 grams, down Rs 20 or 0.03%. Silver July futures were trading higher by Rs 120 at Rs 71,845 per kg on MCX.
Gold Price Today, 8 June
09:28 (IST) 8 Jun 2023 Wipro share price falls half a percent
Wipro share price fell 0.45% to Rs 401 after the company launched a private 5G-as-a-Service solution in partnership with Cisco. Customers can integrate private 5G with their existing LAN/WAN/Cloud infrastructure.
09:27 (IST) 8 Jun 2023 NHPC share price gains nearly 1%
NHPC share price rose 0.80% to Rs 44.3 after the company signed an agreement with the Maharashtra government to build pumped storage hydro projects totalling 7,350 MW capacity with an investment of Rs 44,000 crore.
09:20 (IST) 8 Jun 2023 Nifty, Sensex open flat
The NSE Nifty 50 was up 11.75 points or 0.06% at 18,738.15 and BSE Sensex rose 48.54 points or 0.08% to 63,191.50.
09:13 (IST) 8 Jun 2023 Nifty 50, Bank Nifty to be volatile on RBI’s monetary policy decision due today
Domestic benchmark indices BSE Sensex and NSE Nifty 50 ended at a six-month high on Wednesday, ahead of the Reserve Bank of India’s bi-monthly monetary policy announcement due later today. Both the indices closed yesterday’s session less than 1% off lifetime highs. How will the RBI’s MPC decision affect the market momentum today?
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09:11 (IST) 8 Jun 2023 Nifty, Sensex end pre-open flat
Benchmark indices ended the pre-opening session flat. The NSE Nifty 50 was at 18,725.35 and BSE Sensex at 63,140.17.
09:08 (IST) 8 Jun 2023 Nifty target: 18888/19000 – SL: 18407
Nifty (18726): Purchase at the current market price (CMP). Set a stop at 18407. Aim for targets at 18888/19000, with more ambitious targets at the 19151-19257 range. – Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
08:55 (IST) 8 Jun 2023 Nifty, Sensex may open in green; Nifty 50 support at 18660-18600
“Markets are set to start in the green taking cues from SGX Nifty which is trading marginally higher in the morning. Nifty opened by gapping up 60 points in the previous trading session and consolidated marginally ahead of the pivotal resistance near 18,660. This allowed the index to garner strength to pierce above the resistance and cross the psychological mark of 18,700 on a tepid note. Going forward, the index is anticipated to continue its upside with an immediate support zone at 18,660-18,600,” said Riches Vanara, Technical and Derivatives Analyst, Stoxbox.
08:51 (IST) 8 Jun 2023 Bank Nifty OI data
“Bank Nifty weekly expiry option chain data reflects on 44000PE holding more than 2 lakh OI contracts, followed by 44200PE – more than a lakh contracts. CE writers witnesses aggressive positions at various immediate strikes adding more than a lakh OI contracts all the way up till 45500 strike, with 44500CE posing as an immediate hurdle. PCR_OI at 44200 is just hovering around 1 and is crucial to keep on the radar for further understanding of the direction on the index,” said Shilpa Rout – Derivatives Lead Analyst, Prabhudas Lilladher Pvt Ltd.
Share Market Outlook Today
08:50 (IST) 8 Jun 2023 Nifty OI data
“Nifty weekly expiry option chain witnesses maximum overall exposures at 18700PE and 18900CE – each with over 2 lakh OI contracts. 18700PE also adds more than 2 lakh Oi fresh, with various immediate CE writers are active with more than 1.5 lakh OI contracts. PCR_OI at 18700 is almost 1.5, which is important to monitor, as sustenance here will lead to new highs on the index,” said Shilpa Rout – Derivatives Lead Analyst, Prabhudas Lilladher Pvt Ltd.
Share Market Outlook Today
08:41 (IST) 8 Jun 2023 Bank Nifty may target levels of 44500
“Bank Nifty held on to the support of the 20-day moving average (43800) and the 61.82% Fibonacci retracement level (43800) of the previous rise(43390–44448) is witnessing buying interest. The daily momentum indicator has a negative crossover which can lead to a consolidation in the short term however the overall trend continues to remain positive. On the upside we expect it to target levels of 44500,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
Share Market Outlook Today
08:41 (IST) 8 Jun 2023 Bank Nifty may move towards 45000 if it closes above 44350-44400
“If Bank Nifty closes above the range of 44350-44400 it will start moving towards 45000 in the coming weeks. The resistance is at around 44350-44400 and the support is at around 44000-44100 till the time Bank Nifty breaks this range it is expected to remain sideways. The undertone remains bullish and the buy-on dip strategy can be implemented. Technical indicator RSI is at around 62 and is showing strength by sustaining above 50 levels,” said Mitesh Karwa Research Analyst at Bonanza Portfolio Ltd.
Share Market Outlook Today
08:40 (IST) 8 Jun 2023 Bank Nifty may see strong upside moves above 44500
“Bank Nifty’s undertone is still bullish, maintaining the support of 44000 in a spot where a decent amount of Put writing is seen and resistance is still intact at 44500. After the central bank policy, the Bank Nifty is expected to give a move on either side. Upon a decisive move 44500 we might see strong directional upside moves,” said Rupak De, Senior Technical at LKP Securities.
Share Market Outlook Today
08:40 (IST) 8 Jun 2023 Bank Nifty support at 44318-44247
Bank Nifty 45,000 on the cards – Best to play with options. PSU Bank could come to the party. First support at 44,318 and then 44,247 while resistance at 44,443 and then 44,496, according to Rahul Sharma, JM Financial.
Share Market Outlook Today
08:40 (IST) 8 Jun 2023 RBI’s dovish stance may contribute to positive sentiment in market
“Nifty has recently experienced a positive breakout from a sideways pattern, which is seen as a favourable development. Market participants are anticipating a dovish stance from the RBI governor, contributing to positive sentiment in the market. Technically, support for the Nifty is positioned at 18650, while resistance is expected around the range of 18880-18900,” said Rupak De, Senior Technical at LKP Securities.
Share Market Outlook Today
08:40 (IST) 8 Jun 2023 Nifty may target all-time high of 18887.60 with 18800 serving as immediate hurdle
“On the daily chart, a congestion breakout is observed, resembling a confirmation of the ‘FLAG’ pattern on a daily time frame. Based on this configuration, it is anticipated that Nifty may target the all-time high level of 18887.60 in the upcoming sessions, with 18800 serving as an immediate hurdle. While volatility may arise due to the RBI policy event, overall sentiment is expected to remain positive. The immediate support zone lies within the bullish gap created today, ranging from 18620 to 18640,” said Rajesh Bhosale, Technical Analyst at Angel One Ltd.
Share Market Outlook Today
08:39 (IST) 8 Jun 2023 Nifty may target 18800 level
“Nifty has closed above the previous swing high (18662) on the daily charts, which indicates that it has started the next leg of the upmove. It has the potential to target levels of 18800 and thereafter the all-time high of 18889. The daily momentum indicator has also triggered a positive crossover which is a buy signal. Thus, both the price and momentum indicators are suggesting a continuation of the upmove. In terms of levels, 18620-18580 shall act as the crucial support zone while the hurdle zone is placed at 18800-18889,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
Share Market Outlook Today
08:39 (IST) 8 Jun 2023 Nifty could rally till 18800-18875 if it breaks 18650
“Nifty clearing the important resistance level of 18650 may intensify the positive momentum. A bullish candle and a higher bottom formation clearly indicate a further uptrend from the current levels. For the breakout traders now, 18650 would be the key support level to watch out for. Above this, the market could rally till 18800-18875. On the flip side, below 18650, the uptrend would be vulnerable and below the same, the index could retest the level of 18600-18550,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
Share Market Outlook Today
08:39 (IST) 8 Jun 2023 Nifty support at 18623-18675
Buy Nifty on intraday dip if any – View bullish on 18600. First support at 18623 and then 18675 while resistance at 18738 and then 18888, according to Rahul Sharma, JM Financial.
Share Market Outlook Today
08:14 (IST) 8 Jun 2023 US indices end mixed
The US market ended the overnight session mixed – Dow Jones Industrial Average (DJIA) rose 0.27%, S&P 500 fell 0.38% and the tech-heavy Nasdaq tanked 1.29%.
08:14 (IST) 8 Jun 2023 Asia markets trade mostly in red
Asian markets were trading mostly in red – Hong Kong’s Hang Seng fell 0.5%, China’s Shanghai Composite index dipped 0.09%, South Korea’s KOSPI fell 0.3% while Japan’s Nikkei 225 rose 0.07%.
08:13 (IST) 8 Jun 2023 SGX Nifty trades flat
The Nifty futures on the Singapore Exchange (SGX) were trading 15.5 points or 0.08% higher at 18,827.5 in today’s early morning trade.