Share Market HIGHLIGHTS: Nifty closes below 17,000 for first time in five months, Sensex 918 pts off day's high
Share Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 extended losses to the fifth session in a row on Wednesday, with the Nifty50 closing below the psychologically-important 17,000 mark for the first time in five months. The Indian stock market reversed course in the second half of a volatile session after a gap-up start, as banking shares continue to fall after a day's gap thanks to fears of contagion after the sudden collapse of Silicon Valley Bank (SVB).
Official data released on Wednesday showed consumer inflation in the world's largest economy eased sequentially, along expected lines. That was the last major data point before the Fed's decision on benchmark US interest rates due later this month. The Fed and other major central banks around the globe have been scambling to tackle red-hot inflation without affecting the pace of growth amid worries about at least a mild recession.
Catch highlights of the March 15 session in the Indian stock market, market commentary and analysis only on Zeebiz.com's blog, besides the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations:
Share Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 extended losses to the fifth session in a row on Wednesday, with the Nifty50 closing below the psychologically-important 17,000 mark for the first time in five months. The Indian stock market reversed course in the second half of a volatile session after a gap-up start, as banking shares continue to fall after a day's gap thanks to fears of contagion after the sudden collapse of Silicon Valley Bank (SVB).
Official data released on Wednesday showed consumer inflation in the world's largest economy eased sequentially, along expected lines. That was the last major data point before the Fed's decision on benchmark US interest rates due later this month. The Fed and other major central banks around the globe have been scambling to tackle red-hot inflation without affecting the pace of growth amid worries about at least a mild recession.
Catch highlights of the March 15 session in the Indian stock market, market commentary and analysis only on Zeebiz.com's blog, besides the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations:
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Global Market LIVE | Dow Jones, Nasdaq Composite futures indicate a big gap-down start ahead in US market today
The futures of the three main Wall Street indices — the Dow Jones, the S&P 500 and the US megacap tech stocks-heavy Nasdaq Composite — are down between 1.5 per cent and 1.8 per cent at this hour. The US share market opens within the next 75 minutes Indian time.
- Dow Jones futures: down 562 points or 1.8 per cent at 31,599
- S&P 500 futures: down 71.3 points or 1.8 per cent at 3,849.3
- Nasdaq Composite: down 185 points or 1.5 per cent at 12,022
Share Market Update | Nifty50 slides below 17,000, Sensex ends 918 pts below day's high as market takes a sharp U-turn
The Nifty50 settles at 16,972.2 — closing below the pshychologically-important 17,000 mark for the first time since October 11, 2022, down 71.2 points or 0.4 per cent for the day.
The Sensex finishes the day down 344.3 points or 0.6 per cent at 57,555.9, having retreated 917.7 points from its strongest level of the day.
Here's how the indices moved today:
Nifty50
Nifty LIVE | Reliance, HDFC twins, Bharti Airtel, ICICI Bank come in the way of Dalal Street escaping 5-month lows
Share Market Today LIVE | Vedanta shares rise after company repays $100 million to Standard Chartered Bank
Vedanta says it has repaid $100 million to Standard Chartered Bank through release of encumbrance on March 10. Earlier, Vedanta Resources had said it had enough means to meet debt repayment liabilities in the coming quarters as it looked to assuage investor concerns around its financial position.
Vedanta shares rise by Rs 5.3 or 1.9 per cent to touch Rs 284.8 at the strongest level of the day so far.
Vedanta Resources is the majority owner of Mumbai-listed mining and oil & gas company Vedanta.
Global Market LIVE | Dow Jones, S&P 500, Nasdaq Composite a mixed bag near the flatline, indicate a sluggish start ahead in US market today
Here's a look at where the futures of three main Wall Street indices — the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite — stand at this hour and what to expect on Wall Street later on Wednesday:
- Dow Jones: down 60 pts − or 0.2 per cent − at 32,101
- S&P 500: down 2.8 pts − or 0.1 per cent − at 3,917.8
- Nasdaq Composite: up 2.3 pts at 12,209.3
On Tuesday, an official reading showed US inflation cooled last month, as widely expected, easing some of the concerns about more of steep hikes in benchmark interest rates. That was the last major macro data point before the Fed meets later this month to decide on the key lending rates.
Share Market Today LIVE | Sensex, Nifty50 slip into the red; select financial stocks weigh on market; Hindalco, Tata Steel, JSW Steel aid gains in metal basket
Here's a glance at where the gauges stand 90 minutes ahead of the closing bell:
| Index | Change (%) | Current |
| Nifty Realty | -0.5 | 384.2 |
| Nifty Media | -0.5 | 1,678.4 |
| Nifty Pvt Bank | -0.4 | 19,938 |
| Nifty Bank | -0.4 | 39,259.3 |
| Nifty FMCG | -0.4 | 44,549.7 |
| Nifty Financial Services | -0.2 | 17,507.4 |
| Nifty IT | -0.1 | 28,748 |
| Nifty Oil & Gas | -0.1 | 7,110.3 |
| Nifty PSU Bank | 0 | 3,675.2 |
| Nifty Auto | 0.1 | 12,360.6 |
| Nifty Pharma | 0.4 | 11,640.9 |
| Nifty Healthcare | 0.5 | 7,429.2 |
| Nifty Consumer Durables | 1 | 23,826.5 |
| Nifty Metal | 1.9 | 5,619.4 |
Share Market Tips LIVE | Buy Indian Oil (IOC) shares, says Kunal Shah
Kunal Shah of Nirmal Bang Securities shares two stock recommendations with Zee Business viewers:
- Buy Indian Oil for a target of Rs 82 with a stop loss at Rs 77
- Sell Dixon Tech futures for a target of Rs 2,600 with a stop loss at Rs 3,000
Share Market Tips LIVE | Buy Indian Oil (IOC) shares, says Kunal Shah
Kunal Shah of Nirmal Bang Securities shares two stock recommendations with Zee Business viewers:
- Buy Indian Oil for a target of Rs 82 with a stop loss at Rs 77
- Sell Dixon Tech futures for a target of Rs 2,600 with a stop loss at Rs 3,000
Share Market Tips LIVE | Buy Indian Oil (IOC) shares, says Kunal Shah
Kunal Shah of Nirmal Bang Securities shares two stock recommendations with Zee Business viewers:
- Buy Indian Oil for a target of Rs 82 with a stop loss at Rs 77
- Sell Dixon Tech futures for a target of Rs 2,600 with a stop loss at Rs 3,000
Gold Rate LIVE | MCX gold near Rs 57,300 per 10 grams mark
MCX gold futures (April 5) trade inches from the weakest level of the day so far, having declined by as much as Rs 182 or 0.8 per cent to Rs 57,301 per 10 grams.
Share Market Today LIVE | Broader indices firm in the green
Overall market breadth remains well in favour of the bulls, with the Nifty Midcap 100 and Nifty Smallcap 100 indices holding up 0.6 per cent and 0.9 per cent at this hour respectively.
Stock Market Tips LIVE | Paytm, PVR, IDFC First, Federal Bank among seven stocks analysts recommend for up to 83% return
Citi has a 'buy' rating on Paytm for a target price of Rs 1,061 apiece.
Catch the complete list of stocks you may buy
Share Market Today LIVE | Top three BSE 500 laggards are Adani group stocks
With losses of five per cent each, three Adani group stocks, Adani Transmission (ADANITRANS), Adani Total Gas (ATGL) and Adani Power (ADANIPOWER), are the top laggards in the BSE 500 universe.
On the flipside, the broadest index on the bourse has 350-odd gainers at this hour.
Sensex LIVE | 30-scrip index holds on to half of day's gains, hovers around 58,100 mark
The Sensex is up 220.2 points or 0.4 per cent at 58,120.4 at noon, having gyrated in a range of more than 400 points earlier in the day. It has broadly moved within the 58,050-58,500 band so far.
