Market news today: Sensex, Nifty share price gained 1% amid volatility 

 

Market news today- Sensex & Nifty Share Price: Indian benchmark equity indices made a gap up opening today. The market was volatile and fell sharply in the afternoon due to the fear of escalating tension between India and China. As the Indian army reported that one of its officers and two soldiers were killed in a “violent face-off” with Chinese troops in Ladakh border. The market later bounced back and closed in positive territory.

The market sentiment was positive as UN Conference on Trade and Development (UNCTAD) in its latest ‘The World Investment Report 2020’ has said that India was the 9th largest recipient of foreign direct investments (FDI) in 2019. India attracted 51 billion dollars of inflow during the year. The inflow has increased from the 42 billion dollars of FDI received in 2018 when Indian ranked 12 among the top 20 host economies in the world.

The global market news: the Asian markets closed in green and European markets were trading higher. The global markets are reacting positively to the US Federal Reserve’s latest announcement of the corporate bond purchasing program. 

 

Share Market Indices news: Sensex, Nifty

At close, Nifty50 gained 100.30 points or 1.03% and at 9914 while Sensex was up 376.42 points or 1.14% and at 33605.22. The Bank Nifty gained 383.80 points or 1.93% and closed at 20296.70.

The Nifty midcap and smallcap 100 indices closed in mixed today. The Nifty midcap index was gained 62.05 points or 0.44% and at 14230.60. Whereas the Nifty smallcap index was marginally down by 4.85 points or 0.11% and closed at 4404.75 levels.

The top five gainers in the Nifty50 index are HDFC Bank, HDFC, ICICI Bank, JSW Steel, and Hindalco. The losers in the Nifty50 index for the day are Tata Motors, Bharti Infratel, Tech Mahindra, GAIL, and Axis Bank.

On the sectoral indices front, Banking & Finance, Insurance, Metal & Minings, IT & Software, and Aviation are closed in green. On the other hand, Manufacturing, Hospitality, Capital Goods, Paper, and logistics are closed in the red today.

 

Nifty and Bank Nifty share price in futures today

The Nifty futures share price opened today at 10018.15, it was made a gap up opening of 204.4 points today morning. It has touched an intraday high at 10044.70 and a day’s low at 9703.90

During the day Nifty futures share price has given a movement of 340.8 points. In the end, it gained 71.3 or 0.73% and closed at 9885.05 level

Today the Bank Nifty share price in futures opened at 20503, it was a gap up opening of 591.5 points today. It has touched an intraday high at 20635 and a day’s low at 19435.80.

During the day the Bank Nifty share price in futures has given a movement of 1199.2 points. In the end, it was up by 283.5 points or 1.42% and closed at 20195

 

Nifty and Bank Nifty share price in futures target for 17th June 2020

Nifty Futures share price target for 17th June 2020

Primary Nifty Trend in futures: Mild Negative

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 10050 whereas All Down Moves Initiates Short Covering (Buy) @ 9750

If Nifty futures share price Moves Above 9975 and sustain. Then you should Buy with 1st Target of 10041 during the day with a Stop Loss of 9830 FOR the Target of 10041- 10125- 10190

If Nifty futures share price Moves Below 9830 and sustain. Then you should Sell with 1st Target of 9794 during the day with a Stop Loss of 9975. FOR the Target of 9794- 9740- 9711

 

Bank Nifty share price in futures 17th June  2020

Primary Trend of Bank nifty Futures: Mild Negative

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 20750, whereas All Down Moves Initiates Short  Covering (Buy) @ 19550

If Bank Nifty share price in futures  Moves Above 20420 and sustain. Then you should Buy with 1st Target of 20740 during the day with a Stop Loss of  20020 FOR the Target of 20740 – 20920- 21040

If Bank Nifty share price in futures Moves Below 20020 and sustained. Then you should Sell with 1st Target of 19825 during the day with a Stop Loss of 20020 FOR the Target of 19825 – 19620- 19540

 

Conclusions:

Indian share market was volatile in the afternoon due to Indian and China tension. Nifty took support at 9700 levels and bounced back for the second time in the three trading sessions. We can see some buying interest only if Nifty closes above 10050 levels.

Further, any fresh escalation in Indian China tension could correct the Indian share market in the coming days. Traders need to follow global market news and the FIIs movement as they are selling continuously for the four trading sessions. Traders can also follow our Nifty and Bank Nifty futures share price target for 17th June 2020

 

You can also read, Share market news updates: Market next week

                             Share/Stock Market Live: Nifty and Bank Nifty Futures

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Editor’s Desk

 

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