Share Market News Highlights: Sensex, Nifty hit fresh record closing highs; HDFC Life, Tata Motors, Hero MotoCorp among top gainers

The index has posted a muted close after a sideward trading session. On the daily chart, the Nifty has reached the rising trend line found by joining the preceding peaks. The momentum indicator has reached the falling trendline on the daily timeframe. Based on the price chart and momentum indicator setup we can infer that the index is on the verge of strong directional movement over the short term. On the lower end, a fall below 18,450 may trigger a correction towards 18,100-18,000; whereas, on the higher end, a rise above 18,605 may induce a decent rally in the market.

The Bank Nifty index after a spectacular rally witnessed some profit booking on the last day of the week. The index undertone remains bullish and one should keep a buy-on-dip approach with 42,800-42,500 as a strong support zone. The upside resistance is seen at 43,500 and once breached will see a sharp short covering towards 44,000-44,300 levels.

After clocking record highs in the previous session, domestic indices traded with volatility amidst mixed global cues and rising crude prices. While FIIs turning net buyers is a positive, the lack of fundamental triggers will limit the upside, keeping the market volatile in the short term. Rising Covid restrictions in China continue to negatively impact the global growth forecast.

The overall market breadth stood positive as 2,122 shares advanced while 1,382 declined on BSE. The market capitalization (m-cap) of BSE-listed companies stood at Rs 284.47 lakh crore.

11 out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the green. Sub-indexes Nifty Auto and Nifty Oil & Gas outperformed the NSE platform by rising as much as 0.88 per cent and 0.83 per cent, respectively. In contrast, Nifty Financial Services and Nufty FMCG slipped 0.31 per cent, each.

Mid- and small-cap shares finished on a higher note as Nifty Midcap 100 rose 0.95 per cent and small-cap moved 1.12 per cent higher.

On the stock-specific front, HDFC Life was the top Nifty gainer as the stock soared 2.68 per cent to close at Rs 587.90. Tata Motors, Hero MotoCorp, Coal India and Reliance Industries were also among the gainers. In contrast, ICICI Bank, Nestle India, Kotak Mahindra Bank, Titan and Britannia were among the top losers.

Sensex rises 21 points or 0.03 per cent to hit fresh record closing high of 62,294; Nifty moves 29 points or 0.15 per cent higher to scale fresh closing peak of 18,513

BSE 500 stocks such as Bank of Baroda, Bank of India, Airtel, BHEL, Canara Bank, CEAT, CG Power, Cummins India, Engineers India, Escorts, GE Ship, HAL, ICICI Bank, IIFL, IRFC, L&T, PFC, PNB, PSB, REC hit their 52-week highs today.

Sensex hits fresh all-time high of 62,448, Nifty scale fresh peak of 18,533; Tata Motors, HDFC Life, Reliance Industries, Hero MotoCorp, Coal India among top gainers

Shares of Kirloskar Ferrous Industries Ltd fell 2.39 per cent to trade at Rs 312.40. The stock hit a day low of Rs 306.95. A total of 50,000 shares changed hands today, amounting to a turnover of Rs 1.55 crore. The company's market capitalisation (m-cap) stood at Rs 4,336.65 crore.

Shares of Mazagon Dock Shipbuilders Ltd fell 3.43 per cent to trade at Rs 851.55. The stock hit a day low of Rs 836.50. A total of 2.32 lakh shares changed hands today, amounting to a turnover of Rs 19.94 crore. The company's market capitalisation (m-cap) stood at Rs 17,174.91 crore.

Sensex falls 117 points or 0.19 per cent to trade 62,156, Nifty moves 18 points or 0.11 per cent lower to trade at 18,466; Nestle, ICICI Bank, HUL, Kotak Mahindra Bank, Apollo Hospitals among top drags

BSE 500 stocks such as Aurobindo Pharma and Motilal Oswal Financial Services hit their 52-week lows today.

Shares of APL Apollo Tubes fell 2.76 per cent to trade at Rs 1,067.30. The stock hit a day low of Rs 1,063.60. A total of 7,743 shares changed hands today, amounting to a turnover of Rs 84.38 lakh. The company's market capitalisation (m-cap) stood at Rs 26,681.15 crore.

A host of smallcap stocks such as PVR, Laurus Labs,  Indian Hotels & Man Infraconstruction were up 2-3 per cent in Friday's trade on company-specific developments. (Read more)

Shares of PB Fintech, which operates online insurance broker Policybazaar and loan marketplace Paisabazaar surged 5 per cent today after Hedge fund WF Asian Smaller Companies Fund bought 67.75 lakh shares via open market transactions. The shares bought are 1.5 per cent of the total paid-up equity. (Read more)

The overall market breadth stood strong as 1,872 shares were seen advancing while 993 were declining on BSE.

Four out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the red. Sub-indexes Nifty FMCG and Nifty Consumer Durables were underperforming the NSE platform by falling 0.64 per cent and 0.18 per cent, respectively. On the flip side, Nifty PSU Bank jumped 1.95 per cent.

Mid- and small-cap shares were positive as Nifty Midcap 100 rose 0.75 per cent and small-cap climbed 0.74 per cent.