Nifty is a market index that was introduced by the National Stock Exchange in April 1996. It’s a blend of two words-National Stock Exchange (NSE) and Fifty. It is a benchmark Indian stock market index that represents the weighted average of 50 of the largest Indian companies listed on the National Stock Exchange.It is one of the two main stock indices used in India, the other being the BSE SENSEX. The base value of the index has been set at 1000 and the base capital of Rs 2.06 trillion. It was initially calculated on a full market capitalization methodology but in 2009 the computation was changed to a free float methodology. The base period for the NIFTY 50 index is November 3 1995, which marked the completion of one year of operations of the National Stock Exchange Equity Market Segment. Nifty 50 index has shaped up to be the largest consisting of exchange-traded funds (onshore and offshore) and exchange-traded options at NSE. It is the world’s most actively traded contract. As of April 2021, the index covers 13 sectors of the Indian Economy and offers investment managers exposure to the Indian market in one portfolio. It also has sectoral indices like NIFTY Bank, NIFTY IT, NIFTY Auto, NIFTY Pharma etc. More
On the four-hourly charts, the index has formed bullish candlestick pattern, which somewhat resembles Bullish Engulfing kind of pattern formation, which is a positive sign.
Among sectors, auto and realty gained 1 percent, while information technology index shed 1.5 percent.
Sensex and Nifty fell marginally on Tuesday as a slide in information technology stocks overshadowed the gains in auto and realty amid hopes of a rate hike pause by the U.S. Federal Reserve and Reserve Bank of India heading into their policy meetings. Four of the 13 sectoral indexes advanced, with auto rising 0.7%. The auto index hit a new record for the third session in a row following robust May sales data. The gains were offset by the slide in high-weightage information technology (IT) stocks, which lost over 1%. Tech Mahindra Ltd, Infosys Ltd, HCLTech Ltd, Wipro Ltd and Tata Consultancy Services Ltd, were among the top Nifty 50 losers. Nandita Khemka & Yatin Mota discusses the newsmakers on their radar including IT stocksonly on closing bell.
The NSE has changed the expiry for Bank Nifty Futures and Options (F&O) to Friday instead of Thursday. This will come into effect from 7th July. So now, there is the Nifty Financial expiry on Tuesday, Nifty Midcap Select on Wednesday, Nifty 50 on Thursday and Bank Nifty on Friday. The NSE’s latest move will be a blow to BSE’s recently launched weekly options contracts in the Sensex and Bankex contracts, which have a Friday expiry. Will NSE's move hurt BSE's F&O gameplan?
Nifty below the 18,600 mark. Mid & smallcaps fall in tandem. Ultratech, Axis Bank, Maruti, Tata Motors, Kotak Bank among the Nifty top gainers and Tech Mah, Infosys, TCS, HCL Tech & Wipro among the Nifty losers. Catch this mid-day market mood check between Nandita Khemka & Yatin Mota to know more about all the buzzing stocks in today’s session!
Weekly option data for Nifty shows accumulation of calls at 18,600 – a signal that the level may emerge as a big hurdle for the index for this week.
Morgan Stanley expects Sensex to reach 68,500 by December, a potential increase of 10 percent from the current level and expects the index will trade at a trailing price to earnings multiple of 20.5 times compared to 25 year average of 20x
The first Friday expiry for Nifty Bank Futures and Options will be on July 14.
Indian equity markets poised for a gap up opening. Stocks that are expected to be in limelight include Oil Marketing Companies, Wipro, Zydus Life Sciences amongst others. Catch @OnlyNickey in conversation with Sudeep Shah, Deputy Vice President, Head of Technical & Derivatives Research (Equity & Currency) at SBI Securities.
Nifty has broken out of the 2,000 points range of 16,000-18,000 level and the market seems to be set to scale new peak in H2 of 2023.
Nuvoco Vistas Corporation has broken out on the daily chart from the downward sloping trendline, adjoining the highs of September 20, 2022 and February 8, 2023.
The BSE midcap index rose 0.3 percent and smallcap index added 0.5 percent.
eClerx Services has also formed strong bullish candlestick pattern on the daily charts with above average volumes as the stock jumped more than 6 percent to Rs 1,715, the highest closing level since January 20, 2022. The stock has seen a breakout of last four-day consolidation.
Based on the OI percentage, 53 stocks including Oracle Financial, India Cements, Indiabulls Housing Finance, Lupin and Deepak Nitrite saw long buildups.
Complete Circle Wealth’s Gurmeet Chadha pointed out how the human mind fails to grasp exponential growth
The 18,700 level becomes an In-the-Money option signalling bullishness for the week, said analysts.
Auto was the star performer among key sectoral indices, rising moe than a percent. Buying was also seen in select banking and financial services, metal and pharma stocks
A Moneycontrol analysis of 148 companies of BSE200 Index that have reported their earnings for the March quarter shows aggregate net sales have increased by 12.3 percent YoY
The BSE midcap index gained 0.3 percent and smallcap index rose 0.5 percent.
Indian shares traded higher on Monday, powered by sustained gains in auto stocks and tracking the mood in the broader Asian market, as mixed U.S. jobs data bolstered bets that the Federal Reserve may skip an interest rate hike later this month. Both the indexes registered their second-straight weekly gain on Friday, lifted by stronger-than-expected economic growth data and fast-paced expansion of the country's factory output. Nandita Khemka discusses the newsmakers on their radar including Tata Chemicals, Info Edge, Wonderla only on closing bell.
Option data shows support for Nifty is available at 18600 with more put writings seen on the strike.
This week, 18,650-18,700 is expected to be a crucial hurdle and, if the index decisively surpasses this area, then 18,800-19,000 levels can't be ruled out
Milan Vaishnav of Gemstone Equity Research expects the Bank Nifty index to consolidate just below 44,000 levels and eventually break out higher.
Indian equity markets poised for a gap up opening. Stocks that are expected to be in limelight include Oil Marketing Companies, Wipro, Zydus Lifespciences amongst others. Catch @onlynickey in conversation with Prashant Sawant, Founder of Catalyst Wealth and Gaurang Shah Of Geojit Financial Services
IT companies reported a mixed performance overall in Q4FY23, with tier-1 firms delivering muted revenue growth and modest margins, while tier-2 companies outpaced the tier-1 pack with stronger revenue growth.