Share Market HIGHLIGHTS: Nifty stages a strong comeback to 17,100 on yet another wild day on D-Street, Sensex up 355 pts; TCS shares dip
Share Market Today LIVE: Indian equity benchmarks Nifty and Sensex swung between gains and losses in yet another wild session on Dalal Street, amid positive cues in global markets where financial shares made a comeback with investors cheering a lifeline given to the troubled Credit Suisse. The Indian share market has been bearing the brunt of a fall in bank shares around the globe with investors already rocked by the sudden collapse of Silicon Valley Bank (SVB).
Catch all the market action in the March 17 session on Dalal Street LIVE, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
Share Market Today LIVE: Indian equity benchmarks Nifty and Sensex swung between gains and losses in yet another wild session on Dalal Street, amid positive cues in global markets where financial shares made a comeback with investors cheering a lifeline given to the troubled Credit Suisse. The Indian share market has been bearing the brunt of a fall in bank shares around the globe with investors already rocked by the sudden collapse of Silicon Valley Bank (SVB).
Catch all the market action in the March 17 session on Dalal Street LIVE, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
Latest Updates
Nifty Today | HCL Tech, Hindalco, UltraTech rise most among 38 gainers in 50-scrip universe; TCS, Hero MotoCorp, Sun Pharma top losers
Here's a look at some of the stocks that moved the most in the blue-chip basket:
Top Nifty gainers
| Stock | Change (%) | CMP |
| HCLTECH | 3.7 | 1,111.9 |
| HINDALCO | 2.9 | 396.3 |
| ULTRACEMCO | 2.7 | 7,295 |
| UPL | 2.5 | 714 |
| JSWSTEEL | 2.3 | 677.9 |
| HDFCLIFE | 2.3 | 472 |
| NESTLEIND | 2.3 | 18,869.4 |
| TATACONSUM | 2.0 | 708 |
| TATASTEEL | 2.0 | 107.2 |
| GRASIM | 1.9 | 1,589.6 |
Top Nifty laggards
| Stock | Change (%) | CMP |
| TCS | -0.3 | 3,175 |
| HEROMOTOCO | -0.4 | 2,361 |
| SUNPHARMA | -1.1 | 957.1 |
| ASIANPAINT | -1.1 | 2,862.3 |
| CIPLA | -1.2 | 873 |
| POWERGRID | -1.2 | 229.4 |
| ITC | -1.3 | 376.5 |
| MARUTI | -1.5 | 8,310 |
| NTPC | -1.8 | 176.4 |
| EICHERMOT | -1.8 | 2,980 |
Share Market Update | Nifty ends yet another wild day right at 17,100, Sensex 10 pts shy of 58,000; TCS shares end in the red as Street attempts to digest CEO change
Here's how the indices moved through the day:
Nifty
The Nifty rises 114.5 points or 0.7 per cent to end at 17,100, having broadly moved within the 16,950-17,150 band during the session.
Sensex
The Sensex gains 355 points or 0.6 per cent for the day to finish at 57,989.9, after gyrating in a range of 675 points around the flatline — between 57,503.9 and 58,178.9 — in intraday trade.
Stock Market Tips LIVE | Buy Redington shares, KNR Construction shares, says Mehul Kothari
Mehul Kothari of Anand Rathi Shares & Stock Brokers shares two trade recommendations with Zee Business viewers:
- Buy Redington shares at Rs 164 for a target of Rs 184 with a stop loss at Rs 155
- Buy KNR Construction at Rs 260 for a target of Rs 280 with a stop loss at Rs 250
Share Market Today LIVE | Glenmark Life Sciences shares jump as investors cheer Rs 21 per share dividend
Glenmark Life Sciences shares hold on firmly to the green, rising by as much as Rs 25 or 6.5 per cent to Rs 412.5 apiece.
After market hours on Thursday, the API maker declared a dividend of Rs 21 per share with a record date of March 24.
The company's board said the dividend will be paid to eligible shareholders on or after March 29.
TCS LIVE | What brokerages make of the top level changes at the Tata group IT giant
| Brokerage | Rating | Target price | Upside/downside (%) |
| CLSA | Outperform | Rs 3,550 | 11.5 |
| Morgan Stanley | Equal-weight | Rs 3,350 | 5.2 |
| JPMorgan | Underweight | Rs 3,000 | -5.8 |
| Citi | Sell | Rs 2,990 | -6.1 |
| Nomura | Reduce | Rs 2,850 | -10.5 |
Read more on TCS shares, Rajesh Gopinathan, K Krithivasan
Dividend News | Bharat Electronics (BEL) announces Re 0.6 per share dividend, shares hold on to the green
The BEL board has already set March 25 as the record date — which determines the shareholders eligible to benefit from corporate action such as a dividend payout. The board of the PSU electronics maker says the dividend will be paid within 30 days.
BEL shares are holding on to the green, up 2.2 per cent at Rs 93.7 apiece on BSE. Earlier in the day, the stock rose as much as 3.3 per cent to Rs 94.7 apiece.
Nifty LIVE | HCL Tech, HDFC Life, Infosys rise most among 28 gainers in 50-scrip basket; ITC, Eicher, Hero top losers
Top Nifty gainers
| Stock | CMP | Change (%) |
| HCLTECH | 1,112.2 | 3.7 |
| HDFCLIFE | 474.3 | 2.8 |
| INFY | 1,434.1 | 2.1 |
| NESTLEIND | 18,809.9 | 2.0 |
| TATACONSUM | 705.7 | 1.7 |
Top Nifty50 losers
| Stock | CMP | Change (%) |
| ITC | 371.5 | -2.6 |
| EICHERMOT | 2,966.0 | -2.3 |
| HEROMOTOCO | 2,336.0 | -1.5 |
| MARUTI | 8,330.0 | -1.3 |
| BPCL | 347.1 | -1.1 |
Share Market Tips LIVE | Buy Ramkrishna Forgings shares, says Astha Jain
Astha Jain of Hem Securities suggests buying Ramkrishna Forgings shares at Rs 275 for targets of Rs 310 and Rs 320 with a stopl loss at Rs 240.
The Ramkrishna Forgings (RKFORGE) stock has rewarded investors with a return of almost 39 per cent in the past six months, a period in which the Nifty index has declined three per cent.
Share Market Today LIVE | Sensex gives up day's gains, near 57,600; TCS, ITC, Asian Paints biggest drags
The Sensex slips to as low as 57,619.8 in late morning deals, shedding more than 550 points from its strongest level of the day.
Here's a look at the top movers and shakers in the 30-scrip universe:
Nifty LIVE | Headline index slips below 17,000 once again as market gives up initial gains
Nifty LIVE | The 50-scrip benchmark index slides to as low as 16,990.7, having retreated 155 pts from its strongest level of the day so far.
Share Market Today LIVE | HCL Tech, Infosys, Nestle, Larsen & Toubro, UltraTech rise most among 18 gainers in Sensex basket
On the other hand, ITC, IndusInd, Bharti Airtel, SBI and Mahindra & Mahindra are the top laggards in the 30-scrip pack.
Global Market LIVE | Asian shares make a big comeback following a strong handover from US stock market driven by financial shares; rise in Credit Suisse stock boosts sentiment as investors cheer lifeline
Equities across other major markets across Asia are well in the green as investors await a key rate decision by the FOMC due later this month. MSCI's broadest index of Asia Pacific shares outside Japan is up 1.5 per cent at this hour.
- Japan's Nikkei 225: up 1.2 per cent
- China's Shanghai Composite: up 1.6 per cent
- Singapore's Straits Times: up 0.8 per cent
- Hong Kong's Hang Seng: up 1.8 per cent
- Singapore's Straits Times: up 0.9 per cent
Global Market LIVE | Dow Jones, S&P 500, Nasdaq Composite futures barely in the green in Asian trade
Here's what the futures contracts of the three main US stock market indices — the Dow Jones, the S&P 500 and the Nasdaq Composite — suggest at this hour:
- Dow Jones: up five pts at 32,489
- S&P 500: up 2.3 points — or 0.1 per cent — at 3,996.8
- Nasdaq Composite: up 17.3 pts — or 0.1 per cent — at 12,732.8
Investors around the globe now eagerly await a key rate decision by the Fed later this month. On Wednesday, the ECB announced a hike of 50 basis points in the key lending rates — its sixth back-to-back increase in the current cycle of monetary tightening.
Big central banks such as the Fed and the ECB are rapidly fighting red-hot inflation by increasing rates. This time around, they are also staring at turmoil in the global financial markets thanks to problems at Credit Suisse and the sudden collapse of Silicon Valley Bank (SVB), amid persistent concerns about at least a mild recession.
Nifty LIVE | Infosys, Larsen & Tourbo, Reliance, HCL Tech among top boosts for headline index; TCS, ITC among biggest drags
Market LIVE: Here's a glance at the heatmap in the 50-strong Nifty basket:
Anil Singhvi Market Strategy | Support for Nifty at 16,925-17,000 levels, for Nifty Bank in 38,950-39,050 area
Zee Business Managing Editor Anil Singhvi expects a strong buy zone for the Nifty50 benchmark coming in at 16,750-16,850 levels. For the Nifty Bank, he sees a strong buy zone in the 38,450-38,625 area.
