Stock Market HIGHLIGHTS: Nifty50 sinks below 17,600, Sensex loses 542 pts for the day amid broad-based selling
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 fell almost one per cent on Thursday, halting a three-day winning run, amid mixed cues from global markets as Fed Chair Jerome Powell continued with a hawkish tone amid data pointed to strength in the US economy. Losses in IT, oil & gas, FMCG and auto shares pulled both Sensex and Nifty50 lower.
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 fell almost one per cent on Thursday, halting a three-day winning run, amid mixed cues from global markets as Fed Chair Jerome Powell continued with a hawkish tone amid data pointed to strength in the US economy. Losses in IT, oil & gas, FMCG and auto shares pulled both Sensex and Nifty50 lower.
How Anil Singhvi views the market and what he recommends
Here are some highlights of the day for you to catch all the market action on March 9, market commentary and analysis only on Zeebiz.com's blog here, besides the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations:
Latest Updates
Wall Street Ahead | Dow Jones, S&P 500, Nasdaq futures suggest a weak opening ahead in US share market
The futures contracts of the three main US stock market indices — the Dow Jones, the S&P 500 and the Nasdaq Composite — suggest a weak start ahead in the US market.
- Dow Jones futures: down 22 points or 0.1 per cent at 32,791
- S&P 500 futures: down 10.5 points or 0.3 per cent at 3,984.5
- Nasdaq Composite futures: down 71.5 points or 0.6 per cent at 12,157.5
Global Market Update | European markets fall amid weakness in realty, mining sectors
European markets begin the day in the red amid weakness in realty and mining shares, with the pan-continent Stoxx 600 index down 0.4 per cent at this hour, as investors grow increasingly worried about the prospects of interest rates staying higher for longer.
Fed Chair Jerome Powell said on Wednesday that the US central bank had not yet decided on the size of this month's rate hike.
M&M, Maruti Suzuki, Tata Motors, Eicher Motors weigh on Nifty Auto
Stock Market Update | Sensex ends 542 pts lower, Nifty50 cracks below key 17,600 support as D-Street halts three-day winning run
Both headline indices finish the day 0.9 per cent lower, with the Sensex shedding 541.8 points to settle at 59,806.3. The Nifty50 loses 164.8 points to close at 17,589.6.
Here's how the Sensex and the Nifty50 moved through the day:
Sensex
Stock Market LIVE | Sensex, Nifty50 on track to halt three-day winning run
As of Wednesday, the Sensex had gained 1,438.7 points or 2.4 per cent in three back-to-back sessions, and the Nifty50 added 432.5 points or 2.5 per cent.
Stock Market LIVE | Nifty Bank falls over 350 points, gives up 41,250 dragged by ICICI Bank, Kotak Mahindra Bank, SBI
The banking index sheds 360.5 points or 0.9 per cent to hit 41,216.7 on the downside. The Nifty Bank had briefly traded in positive territory in the first hour of trade, testing the 41,650 level on the upside.
Share Market LIVE Today | Overall market breadth skewed in favour of the bears
As many as 1,527 stocks are in the green against 1,924 scrips that are in the red at this hour on BSE.
Stock Market LIVE Update | Sensex falls over 500 pts but manages to hold 59,800
The Sensex drops 548.3 points or 0.9 per cent to 59,799.8 at the weakest level of the day, less tha 30 minutes from the closing bell.
IPO Update | Global Surfaces initial share sale hits Street on Monday
Potential investors will be able to bid for Global Surfaces shares in a price band of Rs 133-140 apiece in multiples of 100 under the IPO. That translates to Rs 13,300-14,000 per lot.
Sensex LIVE | Only seven gainers in 30-scrip basket; Tata Steel, Larsen & Toubro, Axis Bank among the blue-chips bucking market trend
Stock Market LIVE Today | Share India Securities rights issue hits Street: Check out issue size, price and other important details
A rights issue by financial services company Shares India Securities to raise up to Rs 804 crore hit the Street today. A rights issue is a type of corporate action that enables existing shareholders of a company to buy additional shares at a special price.
The Share India Securities rights issue will close on Friday, March 17.
Here's how the Share India stock is faring on BSE today:
Share Market Tips LIVE | Buy Larsen & Toubro shares, buy Tech Mahindra shares, says Ruchit Jain
Ruchit Jain of 5Paisa has two stock recommendations:
- Buy L&T shares for a target of Rs 2,260 with a stop loss at Rs 2,140
- Buy TechM shares for a target of Rs 1,130 with a stop loss at Rs 1,032
Global Market Update | Dow Jones, Nasdaq, S&P 500 futures drop up to 0.3%, suggest weakness ahead in US share market
The futures of three main Wall Street indices — the Dow Jones Industrial Average, the S&P 500 and the US megacap tech stocks-heavy Nasdaq Composite — continue to suffer mild losses in Asian trade.
- Dow Jones futures: down 24 points — or 0.1 per cent — at 32,789
- S&P 500 futures: down 6.3 points — or 0.2 per cent — at 3,988.8
- Nasdaq futures: down 32.3 points — or 0.3 per cent — at 12,196
Share Market Tips LIVE | Arpit Beriwal recommends buying Nifty50 futures, targets 17,850, 17,900
Motilal Oswal Financial Services' Arpit Beriwal suggests buying Nifty futures at 17,680 for targets of 17,850 and 17,900 with a stop loss at 17,580.
He also has a Nifty Bank trade recommendation: Buy the 41,700 weekly call option (March 16) at Rs 200-220 for a target of Rs 400 with a stop loss at Rs 120.
Share Market Tips LIVE | Buy Axis Bank shares, buy BHEL shares, says Arpit Beriwal
Arpit Beriwal of Motilal Oswal Financial Services has two stock recommendations for Zee Business viewers:
- Buy Axis Bank for a target of Rs 905 with a stop loss at Rs 850
- Buy BHEL for a target of Rs 85 with a stop loss at Rs 74
Share Market Tips LIVE | Buy IndiGo Rs 1,900 call option, Redington shares
Sneha Seth of Angel One shares two trade recommendations with Zee Business viewers:
- Buy the Rs 1,900 call option of IndiGo @ Rs 44-45 for a target price of Rs 84 with a stop loss at Rs 24
- Buy Redington shares at Rs 173.5-173.75 for a target of Rs 178.5 with a stop loss at Rs 171
Stock Market LIVE Today | Shilpa Medicare, Privi Speciality Chem, Adani Green rise most among some 250 gainers in BSE 500 index
On the other hand, Home First Finance, Aptus Value Housing Finance and Adani Enterprises are the worst hit in the broadest index on the bourse.
Nifty LIVE | Reliance, ITC, ICICI Bank, TCS pose maximum pressure on 50-scrip index
Stock Market Tips LIVE | Buy LTIMindtree shares, says Himanshu Gupta
In conversation with Zee Business Managing Editor Anil Singhvi, Himanshu Gupta of Globe Capital Markets suggests buying LTIMindtree shares for target of Rs 4,950 and Rs 5,000 with a stop loss at Rs 4,775.
LTIMindtree shares have risen about 11 per cent so far in 2023, a period in which the Nifty50 index has declined 2.8 per cent.
Brokerage Rating, Target Price | Should you buy, sell or hold SBI Life, HUL, Bharti Airtel, TCS, LTIMindtree, ICICI Prudential shares now?
Which stocks to buy, hold or sell today?
As Dalal Street enters the March 9 session, here's a look at what brokerages make of some of the key stocks in focus.
On their radar are stocks such as SBI Life, TCS, Bharti Airtel, Hindalco, ICICI Lombard and LTIMindtree.
SBI Life
Brokerage Rating Target price Credit Suisse Neutral Rs 1,230 HSBC Buy Rs 1,250 Stock Market Tips LIVE | Sell PVR futures, says Sumeet Bagadia
In an interaction with Zee Business Managing Editor Anil Singhvi, Sumeet Bagadia of Choice Broking recommends selling PVR futures for targets of Rs 1,540 and Rs 1,525 with a stop loss at Rs 1,580.
Sensex LIVE | Reliance, ICICI Bank, ITC, TCS pose maximum pressure on index
Sensex LIVE | Tata Steel, Axis Bank, Bharti Airtel rise most among 13 gainers in 30-scrip basket; Reliance, ICICI Bank, M&M, ITC top losers
Anil Singhvi Market Strategy | Buy on dips, nothing to worry as long as Nifty50 holds 17,600, Nifty Bank 41,000 on closing basis
Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,650-17,700 levels today, and sees a strong buy zone coming in at 17,550-17,600 levels. For the Nifty Bank, he sees support emerging in the 41,250-41,350 area, and a strong buy zone in the 41,000-41,100 range.
"Trade will be confined within a tight range on either side... A 'buy on dips' is recommended. One can buy and sell in parts for small profits in this market," he says.
Read more on how Anil Singhvi views the market today and what he recommends
Stock Market LIVE Today | Sensex, Nifty50 edge lower amid choppy trade, stuck in tight range around flatline
The Sensex moves within a range of 250 points around the flatline in the first 15 minutes of trade, falling to as low as 60,218.5 after touching 60,467.1 on the upside. The Nifty50 broadly gyrates in the 17,700-17,800 band.
Here's how the intraday charts are building up for headline indices:
Sensex
Nifty50
Stock Market Tips LIVE | Buy, sell or hold strategy on HDFC Bank, Asian Paints, Zomato, Canara Bank, Bharat Forge, 15 other stocks
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track today.
- Ashish Chaturvedi recommends buying HDFC Bank futures for a target of Rs 1,655 with a stop loss at Rs 1,626
- Varun Dubey suggests buying the Rs 2,860 call option of Asian Paints for a target of Rs 74 with a stop loss at Rs 51
Check out the complete list of their recommendations
Sensex finished 503 pts above day's low on Wednesday as ITC, L&T, IndusInd, Reliance aided rebound on Dalal Street; Nifty50 reclaimed 17,750
The Sensex finished a volatile session on Wednedsay 123.6 points or 0.2 per cent higher at 60,348.1, having gyrated in a range of more than 550 points — between 59,844.8 and 60,402.9 — during the session.The Nifty50 settled at 17,754.4, up 43 points or 0.2 per cent from its previous close, after broadly moving within the 17,600-17,800 band in intraday trade.Here's how the headline indices moved through the day:
Sensex
Stock Market LIVE Today | SGX Nifty futures indicate a muted opening ahead on Dalal Street
Sngapore Exchange (SGX) Nifty futures, an early indicator of the Nifty50 index, are don 6.5 points at 17,793.5 at this hour, suggesting a flat start ahead on Dalal Street. Earlier in the day, SGX Nifty futures moved in a 42-point range around the flatline, between 17,783 and 17,825.Good morning! Welcome to Zeebiz.com's blog on the stock market today
Follow this space to catch minute-by-minute market action, the views of Zee Business Managing Editor Anil Singhvi and other experts, investment ideas, stock picks, brokerage calls and much more through the day.
Happy trading, and happy investing!
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