At the close, the Nifty 50 was at 18,203.40 up by 0.41%
Today, the NSE Nifty 50 commenced its trading session on a bullish note, scaling new heights and recording an impressive upward movement of 0.41 percent. As the day progressed, the index continued to exhibit its strength and resilience, ultimately culminating in a successful closure in the green zone. Notably, the Nifty index achieved a remarkable feat by surpassing the significant milestone of 18200, further solidifying its position as a robust and promising investment avenue.
The Nifty index encountered a day of volatility in today’s trading session. Initially, it commenced with a positive sentiment but later experienced a dip, entering negative territory during the first half of the session. However, the 20-day moving average, positioned at 18,108, served as a support level, preventing further downside. Notably, the Nifty witnessed a resurgence of robust buying interest, ultimately enabling it to conclude the day on a positive note. This recovery comes after a three-day period of consecutive declines, highlighting the resilience and strength exhibited by the market participants.
Despite encountering a sense of indecisiveness, the domestic market ultimately concluded the day with a favorable outcome. The buoyancy observed in the US market was driven by advancements in debt ceiling negotiations and an encouraging decline in jobless claims that surpassed expectations. Nevertheless, the potential for a robust US economy implies that the Federal Reserve might maintain higher policy rates for a prolonged period, signifying an elongated duration of elevated interest rates.
Bank Nifty: Up by 0.50%
Bank Nifty embarked on its trading journey with a positive momentum, entering the green territory and registering a commendable upward movement of 0.50 percent. Its journey towards success continued, culminating in a favorable closure at an impressive level of 43,969.40. Likewise, the BSE Sensex, a key benchmark of the Indian stock market, also showcased a similar trajectory, showcasing its strength and resilience with a notable gain of 0.48 percent. As the trading session drew to a close, the Sensex sealed its position in the green, reaching a significant high of 61,729.68, thereby leaving a resounding mark of triumph in the financial landscape.
On 19th May 2023, Foreign Institutional Investors/Foreign Portfolio Investors (FII/FPI) displayed their market participation with a buy value of 7,325.40 (Rs. Cr.) and a sale value of 7,438.86 (Rs. Cr.). Consequently, the net value stood at -113.46 (Rs. Cr.). Simultaneously, Domestic Institutional Investors (DII) also actively engaged in the market on the same day, reporting a buy value of 6,427.80 (Rs. Cr.) and a sale value of 5,356.45 (Rs. Cr.). As a result, the net value for DII reached an impressive 1,071.35 (Rs. Cr.).
Among the various sectors, the Information Technology (IT) sector emerged as the top gainer, witnessing a notable increase of 1.47%. Noteworthy performers within this sector include PERSISTENT SYSTEMS LIMITED, which gained by 2.77%, MPHASIS LIMITED, which gained by 2.67%, and TECH MAHINDRA LIMITED, which gained by 2.22%. Conversely, the Pharma sector experienced a decline, with a loss of 0.96%. Adversely affected companies within this sector include GLAND PHARMA LIMITED, which incurred a significant loss of 20.00%, ZYDUS LIFESCIENCES LIMITED, which saw a decline of 2.05%, and DIVI’S LABORATORIES LIMITED, which experienced a decrease of 1.95%.
The Nifty Banking sector had some gainers and some losers for the day.
The gainers included Punjab National Bank with a 2.06% increase, Axis Bank with a 1.24% increase, AU Bank with a 1.06% increase, ICICI Bank with a 0.79% increase, and Kotak Bank with a 0.76% increase. On the other hand, the biggest losers in the sector included Bandhan Bank with a 2.30% decline, and Federal Bank with a 0.43% decline. These results suggest that some banking stocks performed better for the day.
Adani Ports & Special Economic Zone Ltd. witnessed a notable increase in its share price, surging by 3.48% from its previous closing value of Rs 664.95. The stock of Adani Ports & Special Economic Zone Ltd. recorded its latest traded price at Rs 688.10. Notably, the stock has delivered an impressive three-year return of 108.32%, outperforming the Nifty 100 index, which yielded a return of 100.53% during the same period. Additionally, a 50-day moving average crossover signal emerged recently. Historical data suggests an average price decline of -5.7% within 30 days following this signal over the past five years. It is worth noting that only 2.95% of trading sessions in the last 15 years exhibited intraday declines exceeding 5%.
Adani Enterprises Ltd. experienced a significant surge in its share price, rising by 3.49% from its previous closing value of Rs 1,890.00. The stock of Adani Enterprises Ltd. reached its most recent traded price at Rs 1,956.05. Impressively, the stock generated a remarkable three-year return of 1252.9%, surpassing the performance of the Nifty 100 index, which yielded a return of 100.53% over the same period. Notably, a daily Moving Average Convergence Divergence (MACD) crossover signal emerged recently. Historical data reveals an average price decline of -6.99% within 10 days following this signal over the past 10 years. In terms of financial performance, the company showcased an impressive annual revenue growth rate of 96.18%, outperforming its three-year Compound Annual Growth Rate (CAGR) of 45.79%.
Throughout the previous week, the markets exhibited a downward trend, primarily driven by the underperformance of the IT sector due to lackluster financial results declared by one of the industry’s major players. Furthermore, apprehensions surrounding the global economic outlook cast a shadow on market sentiments, overshadowing even the robust growth reported by China, which failed to have a substantial impact on bullish sentiments. In the near term, it is anticipated that the markets will remain volatile, primarily influenced by specific movements of individual stocks, as the earnings season gains momentum and takes center stage.
During early trade on Friday, the Indian rupee experienced a depreciation of 14 paise against the US dollar, reaching a level of 82.76. This decline was primarily influenced by the weakness observed in other Asian currencies and the strength exhibited by the US dollar in the international market, which negatively impacted investor sentiments. In the interbank foreign exchange market, the domestic unit opened at 82.76, marking a 14 paise decrease compared to its previous closing value. In the preceding trading session, the rupee had settled at 82.62 against the US dollar.
Advance Decline Ratio
Today, the advance-decline ratio was 0.79, and the market breadth was negative. The volatility index India Vix decreased by 3.84 percent to settle at 12.30 and the FIIs were net seller today.
DAILY MARKET ACTION
Advancers – 1002
Decliners – 1270
52Wk High – 61
52Wk Low – 18
High Band Hitters – 50
Low Band Hitters – 35
200d SMA – 17785
50d SMA – 17665
20d SMA – 18108
Top Gainers and Losers Stocks
The top gainers were Adani Ports (+3.92%), Adani Enterprises (+3.44%), Tata Motors (+3.25%), Tech Mahindra (+2.22%), and Infosys (+1.85%).
The top losers were Divi’s Laboratories (-1.95%), Britannia (-1.54%), ONGC (-1.05%), NTPC (-1.03%), and Hero MotoCorp (-0.82%).
Top Gainers and Losers Sector
The top gainers sectors were IT (+1.47%), Realty (+0.87%), Auto (+0.70%), Financial Services (+0.29%), and Metal (+0.29%).
The top losers sectors were Pharma (-0.96%), Consumer Durables (-0.17%), Oil & Gas (-0.07%), and FMCG (-0.03%).
The Nifty Midcap 50 was 0.00 percent, while the Nifty Small Cap 50 was down by 0.12 percent on the day.
The Nifty Midcap 50 index currently closed at 9,176.10, while the Nifty Small Cap 50 index currently closed at 4,460.35.
SECTORS – NOTABLE ACTION
CONSUMER DURABLES -0.17%
OIL & GAS -0.07%
Stocks Ban List
(SEBI) F&O ban list (L&TFH open at -99.85 and close at +99.65), (MANAPPURAM open at -111.90 and close at -110.30), (ABFRL open at -195.00 and close at -190.85), (BALRAMCHIN open at +386.05 and close at +388.20), (GNFC open at -595.50 and close at -1590.60), (DELTACORP open at -222.05 and close at -219.30), (LICHSGFIN open at -366.00 and close at +372.80), and (PNB open at -48.85 and close at +649.25), are not currently on the stock exchange.
The Securities and Exchange Board of India (SEBI) has banned L&TFH, MANAPPURAM, ABFRL, BALRAMCHIN, GNFC, DELTACORP, LICHSGFIN and PNB from trading in the futures and options (F&O) segment of the stock exchange.
A stock enters the Ban List if its MWPL is above 95%. Implying that, Ban List shows the Futures and Options (FnO ) stocks whose combined open interest in all FnO contracts for a given period crosses 95% of Market-Wide Position Limit.
It seems that IBULHSGFIN, RBLBANK, CANBK, and BHEL may be at risk of being added to the ban list.
GNFC, DELTACORP, LICHSGFIN and PNB has the possibilites of exited from ban list.
As per the above pivots data, 18100 to 18270 is the Nifty 50 trading range.
This article is only for educational purposes and is not an investment advice.