Stock Market Today Live: Sensex, Nifty dip on neutral sentiments; DLF, Eicher Motors, ITI stocks bleed
Stock Market Live: On account of neutral global sentiments, foreign institutional investors (FIIs) and domestic institutional investors (DIIs), the Indian indices are trending tepid and below their Thursday closing. The BSE Sensex is down 150 points and trading at 41,155 mark while the 50-stocks Nifty index is down 39 points at 12,098 level. Bank Nifty index shed 67 points and slipped at 31,236 mark.
Speaking on the stock market scenario Simi Bhaumik, a SEBI registered technical equity analyst said, "The market is overall bullish and Nifty has strong support at 12,050 levels. I advise investors to take every dip as a buying opportunity." Bhaumik went on to add that metal and oil manufacturing stocks are expected to remain in the news as they are expected to get a cue from the developments in China and the US.
Stock Market Live: On account of neutral global sentiments, foreign institutional investors (FIIs) and domestic institutional investors (DIIs), the Indian indices are trending tepid and below their Thursday closing. The BSE Sensex is down 150 points and trading at 41,155 mark while the 50-stocks Nifty index is down 39 points at 12,098 level. Bank Nifty index shed 67 points and slipped at 31,236 mark.
Speaking on the stock market scenario Simi Bhaumik, a SEBI registered technical equity analyst said, "The market is overall bullish and Nifty has strong support at 12,050 levels. I advise investors to take every dip as a buying opportunity." Bhaumik went on to add that metal and oil manufacturing stocks are expected to remain in the news as they are expected to get a cue from the developments in China and the US.
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Share Market Today LIVE: ICICI Prudential APE up 27.6% in June
Here are some of the key takeaways:
- Annualised premium equivalent (APE) up 27.6% at Rs 615 crore
- New business premium up 14.1% at Rs 1,511 crore
- New business sum assured up 13.6% at Rs 85,348 crore
ICICI Pru shares are down 1.1 per cent at Rs 635.3 apiece at this hour.
Share Market Today LIVE | SGX Nifty futures indicate a positive start ahead on Dalal Street
SGX Nifty futures — an early indicator of the Nifty 50 index — were up 21 points or 0.11 per cent at 18,725 at the last count ahead of the opening bell on Dalal Street.
Stock Market LIVE Today | Sensex soars almost 500 pts, Nifty50 surpasses 17,450 in early deals; financial, IT shares top boosts
The Sensex gains as much as 495.8 points or 0.8 per cent to 59,405.1 within the first 15 minutes of trade, and the Nifty50 climbs to as high as 17,479.1, up 157.2 points or 0.9 per cent from its previous close.
Here's how the headline indices' intraday charts are building up:
Sensex
Nifty50
Stock Market LIVE Today | RBI's GDP, inflation projections good news for Dalal Street, says Geojit's VK Vijayakumar
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, believes the RBI's February 8 projects on consumer inflation and GDP are encouraging and good news for the equity market. "If these projections materialise, India Inc’s earnings for 2023-24 will not be impacted and the Nifty EPS of around Rs 1,100 would be achievable. This means the Nifty is now trading at below 18 times its estimated 2023-24 earnings, which is good enough to attract investment," he says.
"However, unabated selling by FIIs will act as a major restraint on any potential breakout rally. For a sustained rally in the market, the FII strategy has to change. Indications from the Fed that rates are likely to remain 'higher for longer' are negative for the equity market. This view will change if the disinflationary process underway gathers momentum," he adds.
Tata Motors (up 6%), ITC (up 2%) rise most among eight Sensex gainers
On the other hand, SBI, ICICI Bank, IndusInd Bank, Axis Bank and Kotak Mahindra Bank are the top laggards.
Closing Bell | Sensex takes losses to 1,648 pts in two days, Nifty50 cracks below 17,650
The Sensex finishes the day with a cut of 874.2 points or 1.5 per cent at 59,330.9, taking its losses to 1,647.9 points in two back-to-back sessions.
The Nifty settles at 17,604.4, down 287.6 points or 1.6 per cent from its previous close.
Stock In News - OFS in IRCTC opens for retail investors
IRCTC Share Price NSE: Indian Railway Catering and Tourism Corporation Ltd or IRCTC stocks fell over 3 per cent on the NSE on Friday as the ongoing Offer for Sale (OFS) started for retail investors. The stock was trading at Rs 668.45 at 10:50 AM, down 3 per cent from previous close. On Thursday, the counter settled 6 per cent lower at Rs 689.05.
The two-day OFS opened on Thursday for non-retail investors. The government will sell 2.5 per cent additional shares via greenshoe option. The OFS was oversubscribed on Thursday at 3.08 times.
Markets LIVE - Nifty Movement on Charts
Stock Markets Today: Broader Markets
There was stock specific action in the broader markets as well with Escorts, IEX, PNB and Bank of India Banks as top gainers. In the Nifty Mid Cap 100 index, 46 stocks advance against 54 declines.
Source: NSE
CLSA on Asian Paints (CMP: 3141)
Maintain Reduce, Target cut to 3425 from 3575
JP Morgan on Asian Paints (CMP: 3141)
Downgrade to Neutral from Overweight. Target cut to 3365 from 3525
Goldman Sachs on Asian Paints (CMP: 3141)
Maintain Neutral, Target 3450
Morgan Stanley on Asian Paints (CMP: 3141)
Maintain Underweight, Target 2674
HSBC on Asian Paints (CMP: 3141)
Maintain Buy, Target 3800
Jefferies on Asian Paints (CMP: 3141)
Maintain Underperform, Target 2530
Market expert Sanjiv Bhasin recommends Tata Motors, Tata Power for these targets
In today's edition of 'Bhasin Ke Hasin Share' market expert and IIFL Director Sanjiv Bhasin recommended two stocks to investors for gains. The stocks were recommended to Zee Business Managing Editor Anil Singhvi. Both the stocks were Tata Group company stocks. Full Report
Sensex dips 164 points, Nifty went off 39 points, Bank Nifty sustains above 31K
Stock Market: On account of neutral glboal sentiments and FIIs and DIIs taking neuttral stance on the Indian indices, the Indian share market pluged near 0.35 per cent in the intraday trade session. The BSE Sensex dipped 164 points and closed at 41,141 levels while the Nifty-50 index nosedived 39 points after closing at 12,098 levels. Bank Nifty index crashed 102 points and closed at 31,201 levels.
Telecom stocks feel selloff pressure
Telecom stocks remained under selloff pressure throughout the intraday trade session. Telecom major ITI share price crashed 2.34 per cent, Bharti Airtel shares went down 1.44 per cent, Sterlite Technologies stock price dipped 1.75 per cent, Vindhya Telelinks stocks went off 2.58 per cent, Vodafone Idea went southward 1.16 per cent while Aksh Optifibre nosedived 3.82 per cent.
Auto stocks under pressure
Auto stocks went down near 1.10 per cent in the intraday trade. Auto major Eicher Motors share price crashed 3.58 per cent, Motherson Sumi Systems shares dipped 3.29 per cent, Tata Motors stock price nosedived 2.99 per cent, Mahindra & Mahindra stocks went down 1.97 per cent, Cummins India shares dipped 1.76 per cent but Ashok Leyland share price skyrocketed 3.46 per cent.
Real estate stocks bleed
Real estate stocks led the bear to take a grip on Indian indices as the BSE Realty index went down 1.82 per cent. Realty major DLF share price crashed 4.39 per cent, Prestige Estates Projects shares dipped 2.57 per cent, Sobha stock price went down 1.53 per cent, Oberoi Realty stocks went off 0.80 per cent while Sunteck Realty shares slipped near 0.50 per cent in the intraday trade.