Market Updates: Nifty, Bank Nifty trend & prediction today
Market Updates: Nifty, Bank Nifty trend & Prediction today
Market updates, Nifty, Bank Nifty trend, Prediction today: The benchmark indices end in a negative note today. At close at 3.30 pm, Nifty was down by 170 points or 2.06% and at 8083.80 while Sensex was declined by 674.36 or 2.39% and at 27590.30.
Bank Nifty trend today
The market was dragged down by Banking index, the Bank Nifty was down by 959.05 points 5.27% and closed at 17249.30. The Nifty midcap 100 was also down by 154.20 points or 1.34% and at 11316.75. Whereas the Nifty smallcap 100 declined by 54.85 points or 1.55% and at 3485.75.
gainers and losers
The top five gainers in the Nifty50 stocks for the day are Sun Pharma, Cipla, ITC GAIL, and ONGC. Whereas the losers in the Nifty50 stocks for the day are Axis Bank, IndusInd Bank, ICICI Bank, Titan Company and SBI.
In the Nifty midcap space, the gainers for the day are Rajesh Exports, Apollo Hospital and the losers are RBL Bank, Cholamandalam. In the Nifty smallcap space the gainers are Himadri Special, Ircon International and on the losing side Equitas Holding, NCC
Among the sectors today, Healthcare, Manufacturing, Industrial gas, Oil & Gas, and Telecom were the gainers. On the losing side, Banking & Finance, IT & Software, Automobiles, Metals, and Chemicals were closed in the deep red.
Both FIIs and DIIs were the seller on the 1st day of April. For today’s FIIs position you can check the link after 6 pm.
Crude and rupee updates
The crude oil is trading higher on the hope of a new global deal to cut global crude oil supply. Yesterday Trump said Saudi and Russia may cut the crude production as much as 15 mln bpd. The international benchmark Brent crude oil future is trading at $ 32.59 per barrel, trading up by 8.92% from yesterday’s close.
The Indian rupee is trading at Rs 76.01 against the US dollar, it has got an appreciation of 0.46% from yesterday’s close.
Nifty & Bank Nifty Prediction for today at 12.30 pm
Nifty prediction at 12.30 pm
If Nifty share price in NSE futures Moves Above 8185 and sustain. Then you should Buy with 1st Target of 8232 during the day with a Stop Loss of 8110 FOR the Target of 8232- 8284- 8352
If Nifty share price in NSE futures Moves Below 8110 and sustain. Then you should Sell with 1st Target of 8040 during the day with a Stop Loss of 8185 FOR the Target of 8040- 7995- 7950
Bank Nifty Prediction today at 12.30 pm
If Bank Nifty share price in NSE futures Move Above 17710 and sustain. Then you should Buy with the 1st Target of 17840 during the day with a Stop Loss of 17440. FOR the Target of 17840 – 17980- 18200
If Bank Nifty share price in NSE futures Move Below 17440 and sustain. Then you should Sell with 1st Target of 17184 during the day with a Stop Loss of 17710. FOR the Target of 17184- 17040- 16910
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Nifty & Bank Nifty trend at 11.30 AM: Indian stock market made a positive start in the morning after Prime Minister’s short video regarding 5th April Sunday’s event to switch off lights at 9 pm and lights lamp, candle or torch for 9 minutes. Though the SGX Nifty was showing negative indication prior to the market opening Indian market opened in green for a while and immediately fell in the deep red.
The Bank Nifty trend is negative today, It has dragged down the market in the morning. As yesterday Moody’s Investors Service has changed the outlook for the Indian banking system to negative from the stable. This is due to they think the asset quality of banks will deteriorate due to the disruption in economic activity from the coronavirus outbreak. Traders were also concerned with the fast-spreading coronavirus.
The Nikkei Manufacturing Purchasing Manager’s Index compiled by IHS Markit which released yesterday has declined to 51.8 in March from 54.5 in February. It has come lowest since November but came above 50 marks. Fitch Solutions stated that India’s fiscal for FY20-21 may shoot up to 6.2% of the GDP from 3.5% as government estimated due to stimulus package for Coronavirus
Nifty & Bank Nifty Trend
The Nifty trend is down and currently at 11.30 am is trading at 8147 down by 107 points while Sensex is trading at 27865 down by 399 points. Both the Sensex and Nifty are trading around 1.30% down. Whereas the Bank Nifty trend is showing highly negative, it is trading at 17618, it is 590 points or 3.24% down from the previous close.
Sectors trading at positive at this hour:- Healthcare, Manufacturing, Electricals
Sectors trading at Negative at this hour-Banking, Automobiles, Metals, & Oil & Gas
Gaining Nifty50 stocks at this hour- Cipla, Sun Pharma, M&M
Losers in Nifty50 stocks are- IndusInd Bank, Kotak Mahindra Bank, JSW Steel
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