Share Market Highlights- Nifty ends above 18650, Sensex settles flat; Bank Nifty above 43600, Cipla, Adani Ent gain

Share Market Highlights: Nifty ends above 18650, Sensex settles flat; Bank Nifty above 43600, Cipla, Adani Ent gain

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Monday’s session mostly flat. The NSE Nifty 50 increased 25.70 points or 0.14% to 18,691.20 and BSE Sensex dipped 9 points to settle at 62,970. In sectoral indices, Bank Nifty rose 18.15 points to 43,641.05, Nifty Auto jumped 1.15%, Nifty Pharma surged 1.53% and Nifty FMCG gained 0.68% while Nifty PSU Bank fell 0.18%. The top gainers on Nifty 50 were Cipla, Adani Enterprises, HeroMotocorp, Tata Consumer Products and UPL while Power Grid, TCS, Reliance Industries Ltd (RIL), NTPC and Coal India were the losers.Live Updates

 Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights

15:59 (IST) 26 Jun 2023 Where is share market headed after Nifty ends above 18690, Bank Nifty below 43650

Benchmark indices NSE Nifty 50 and BSE Sensex ended Monday’s session mostly flat. “The global market exhibited a negative bias as concerns regarding economic growth emerged in light of the political instability in Russia. This instability led to an increase in oil prices, driven by worries over potential supply disruptions, given Russia’s status as one of the largest oil producers. On the domestic front, the market experienced limited downside as the pharma and auto sectors provided support. Additionally, mid and small-cap stocks were seen recovering their positions following a recent sell-off, indicating a regained investor confidence in these segments,” said  Vinod Nair, Head of Research at Geojit Financial Services.

Check Support and Resistance

15:36 (IST) 26 Jun 2023 Nifty, Sensex end flat

The NSE Nifty 50 gained 25.70 points or 0.14% to 18,691.20 and BSE Sensex dipped 9 points to settle at 62,970.

14:52 (IST) 26 Jun 2023 Nifty Auto surges over 1%; check top gainers/losers

Nifty Auto surged 173.70 points or 1.19% to 14,723.90. The top gainers were Hero MotoCorp, Ashok Leyland, Mahindra & Mahindra, Maruti Suzuki and Sona BLW Precision Forgings while the losers were TVS Motor Company, Balkrishna Industries, Bajaj Auto and Bosch.

14:49 (IST) 26 Jun 2023 Nifty Pharma jumps 1.5%; check top gainers/losers

Nifty Pharma jumped 199.75 points or 1.51% to 13,386.05. The top gainers were Aurobindo Pharma, Laurus Labs, Natco Pharma, Gland Pharma and Cipla while the only loser was Torrent Pharmaceuticals.

14:43 (IST) 26 Jun 2023 ICICI Securities resistance around Rs 650, support seen around Rs 550

“ICICI Securities has gained almost 25% over the past three days, on the back of news of the company’s share delisting that is to be discussed in its board meeting slated on 29th June. The stock has immediate resistance around 650 levels whereas support is seen around the 550 mark. Investors are advised to trade cautiously in the stock, given the sort of volatility presently,” said Aamar Deo Singh, Head Advisory, Angel One Ltd.

14:40 (IST) 26 Jun 2023 Weekend session may contribute to commodity market’s profit booking

“The beginning of May month showed downward pressure for all commodities, which was extended in June month when gold on MCX suffered a significant sell-off, closing at Rs 58196 per ten grammes, a drop of more than 10%, or Rs 6250. Silver fell 13.88 percent (Rs 10,950) and concluded at Rs 67,950 per kg. In the international spot market, gold closed at $1925 per ounce, down 8%, while silver fell 16% to $22.30 per ounce. The last week of April saw the gathering of economic data, which influenced the Dollar Index starting on May 1st. Other headwinds erupted on June 14 after the US Federal Reserve paused interest rates after ten consecutive increases. A hawkish outlook by major central banks acts as a headwind for the commodity,” said Tejas Anil Shigrekar, senior technical analyst (commodities and currencies) at Angel One.

14:38 (IST) 26 Jun 2023 Allcargo Logistics appoints Sushil Kumar Rathi as Director – Supply Chain

Allcargo Logistics has appointed Sushil Kumar Rathi as Director – Supply Chain, Allcargo Supply Chain (a wholly owned subsidiary of Allcargo Logistics) In this role, Sushil Kumar Rathi will be responsible for large contracts acquisition, procurement of warehouses, procurement of transportation and growth of contract logistics business.

13:54 (IST) 26 Jun 2023 ideaForge IPO Day 1: Issue fully subscribed, GMP shoots up; Should you subscribe?

ideaForge Rs 567 crore IPO opened for subscription on 26 June and was fully subscribed within hours of opening. The issue has been booked 1.32 times so far, with total bids of 61,39,672 shares. Qualified institutional buyers (QIBs) have bid for a fraction of their reserved portion. Retail investors subscribed 5.23 times. The NII portion was subscribed 1.33 times and employees subscribed 3.67 times. The IPO closes for subscription on Thursday, 29 June.

Check details here

11:53 (IST) 26 Jun 2023 Bank Nifty trades flat; check top gainers/losers

Bank Nifty was trading flat at 43,609. The top gainers were Bandhan Bank, AU Bank, IndusInd Bank, ICICI Bank and SBIN while the losers were IDFC First Bank, PNB, Bank of Baroda, Federal Bank and Axis Bank.

11:15 (IST) 26 Jun 2023 Gold clocks gains, silver jumps on tension in Russia; gold resistance at Rs 69,520

Gold rate is trading higher on Monday, while the silver rate is up 1.12%. On Multi Commodity Exchange, gold August futures were trading at Rs 58,445 per 10 grams, up Rs 138 or 0.24%. Silver July futures were trading higher by Rs 812 at Rs 68,895 per kg on MCX. 

Gold Price Today, 26 June

10:42 (IST) 26 Jun 2023 Yes Bank shares jump nearly 1%

Yes Bank shares rose 0.88% to Rs 16.12 after the board approved raising funds of up to Rs 2,500 crore via issue of debt.

10:40 (IST) 26 Jun 2023 IPCA Laboratories shares gain nearly half a percent

IPCA Laboratories shares rose 0.38% to Rs 729.5 after US FDA issued a form 483 with eight observations for the Ipca Laboratories’ Pithampur formulations manufacturing facility. The inspection was conducted from 15 June to 23 June 2023.

10:39 (IST) 26 Jun 2023 TCS shares tank over 1%

Tata Consultancy Services (TCS) shares fell 1.1% to Rs 3182 after the IT major denied the ‘bribe-for-jobs’ allegations of a Rs 100-crore scam that compromised its hiring process. TCS said there was no scam, but a code breach by certain employees and vendors.

10:36 (IST) 26 Jun 2023 HDFC Life shares gain marginally

HDFC Life Insurance stock rose 0.36% to Rs 629.2. The company received a demand notice of Rs 942 crore for non-payment of Goods and Services Tax (GST) dues. HDFC Life deposited Rs 250 crore under protest but will challenge the demand notice.

10:26 (IST) 26 Jun 2023 ideaForge IPO opens for subscription today, GMP soars 70%

ideaForge’s Rs 567 crore IPO opens for subscription today, 26 June. The public offering comprises a fresh issue of shares up to Rs 240 crore and an offer for sale (OFS) component with the promoters divesting 48.7 lakh shares. ideaForge has set the price band for the IPO at Rs 638-672 per equity share. ideaForge shares’ grey market premium soared 70% on Monday, commanding a premium of Rs 475 over the IPO price, implying a listing price of Rs 1,147 per share at the upper edge of the price-band.

Should you subscribe?

09:56 (IST) 26 Jun 2023 ICICI Securities shares jump 15%, ICICI Bank gains nearly 1% as board mulls delisting brokerage firm stock

ICICI Securities share price jumped 15% to Rs 650 and hit a 52-week high today after ICICI Bank said that it will consider a proposal for the delisting of ICICI Securities stock. ICICI Bank shares rose 0.7% to Rs 930.15. ICICI Bank owned 24,16,52,692 shares, or 74.85 per cent stake, in ICICI Securities as on March 31. The brokerage firm reported a consolidated net profit of Rs 263 crore for the quarter ended March, down 23% as against Rs 340 crore reported in the corresponding period of last year. ICICI Securities stock has jumped 23% in the last one month and over 40% in the last one year.

Read Full Story

09:20 (IST) 26 Jun 2023 Nifty, Sensex open flat

Benchmark indices opened on a flat note. The NSE Nifty 50 was up 16.85 or 0.09% to 18,682.35 and BSE Sensex rose 21.21 points or 0.03% to 63,000.58.

09:14 (IST) 26 Jun 2023 Bank Nifty may rise to 45000 if it closes above 44200-44300 range

“If Bank Nifty closes above the range of 44200-44300 it will start moving towards 45000 in the coming weeks. The resistance is at around 43900, 44000 and the support is at around 43600, 43700 till the time Bank Nifty breaks this range it is expected to remain sideways. Technical indicator RSI is at around 48 whereas the 200 EMA is at 41456,” said Mitesh Karwa Research Analyst at Bonanza Portfolio.

Share Market Outlook Today

09:13 (IST) 26 Jun 2023 Bank Nifty move beyond 43500-44200 crucial for further directional movement

“Bank Nifty extended its consolidation near 44000 levels for the 6th week where it has largely hovered in the range of 43500-44000 levels. Despite profit booking seen in most of the banks, fresh buying in the private sector heavyweight HDFC Bank helped Bank Nifty to hold 43500 levels. Going ahead, we believe ongoing consolidation may continue and move beyond the ongoing range of 43500-44200 is crucial for further directional movement,” said Raj Deepak Singh, Analyst – F&O, ICICIdirect.

Share Market Outlook Today

09:13 (IST) 26 Jun 2023 Bank Nifty likely to trade in range of 43350-44200

“Bank Nifty is likely to trade within a wide horizontal range of 43350 to 44200, with sentiments leaning towards a sideways to a higher trajectory. Prices formed a doji candlestick pattern near the support area, adding weight to the probability of an upward move towards 44200, followed by a potential upswing towards 44500. Conversely, a sustainable decline below the support level at 43300 would shift the near-term sentiments to bearish for 42800,” said Arvinder Singh Nanda, Senior Vice President of Master Capital Services Ltd.

Share Market Outlook Today

09:13 (IST) 26 Jun 2023 Bank Nifty stuck in 44000-43500 range

“Bank Nifty’s 20-day moving average of 43976 acted as a stiff resistance and the index was unable to surpass it. The Bank Nifty is still stuck in a range and until the zone of 44000 – 43500 is not decisively breached on either side the range-bound action is likely to continue,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.

Share Market Outlook Today

09:12 (IST) 26 Jun 2023 Bank Nifty may fall to 43300-43000 if it slips below 43500

“Bank Nifty 50-day SMA or 43500 would act as a key support level, above which a quick pullback rally till 20-day SMA or 44000-44300 is possible. On the other side, below 50 day SMA or 43500 it could slip till 43300-43000,” said Amol Athawale, Technical Analyst (DVP), Kotak Securities Ltd.

Share Market Outlook Today

09:12 (IST) 26 Jun 2023 Bank Nifty support at 43545-43411

Bank Nifty support at 43345 – if this breaks we may see fresh shorts. Bullish only if we sustain above 44000. First support at 43545 and then 43411 while resistance at 43832 and 43985, according to Rahul Sharma, JM Financial.

Share Market Outlook Today

09:12 (IST) 26 Jun 2023 Nifty could retest 18880 if it holds above 18650

“Nifty has formed a double top formation on the daily chart and also formed a bearish candle on weekly charts which is broadly negative. For traders, the 20-day SMA (Simple Moving Average) or 18650 would act as a sacrosanct support level. If the index trades above the same then it could retest the level of 18880 and move up to 19000. Below the 20-day SMA or 18650, the market could slip till 18500-18450,” said Amol Athawale, Technical Analyst (DVP), Kotak Securities Ltd.

Share Market Outlook Today

09:11 (IST) 26 Jun 2023 Nifty resistance at 18880-18900

“The weakness has crept in and the wait for a new all-time high gets longer. We would still await further validations on the price to change the trend. In terms of levels, 18650 – 18600 shall act as a crucial support zone while 18880 – 18900 shall act as a crucial resistance zone,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.

Share Market Outlook Today

09:11 (IST) 26 Jun 2023 Nifty may witness further correction toward 18500-18450 if it breaches 18600-18650

“For the bulls to regain control, the upward movement should start from the current levels. However, if the levels of 18600-18650 are breached, then we might witness further price correction toward the 18500-18450 levels in Nifty. On the other hand, the bearish gap around 18750 will now act as immediate resistance, followed by the all-time high level at 18888,” said Rajesh Bhosale, Technical Analyst at Angel One Ltd.

Share Market Outlook Today

09:11 (IST) 26 Jun 2023 Nifty may decline towards 18560-18500 if it falls below 18640

“Nifty prices are trading above a critical support area, which coincides near the 18640 level and aligns with the vicinity of the 21-day EMA. On sustainable fall below the same support area, a further decline towards the range of 18560-18500 cannot be ruled out. On the other hand, the validation of the 18640 support level would introduce the possibility of a bullish reversal with