Share Market HIGHLIGHTS: Nifty closes below 17,000 for first time in five months, Sensex 918 pts off days 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 days gap thanks to fears of contagion after the sudden collapse of Silicon Valley Bank (SVB).
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.
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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:Nifty50During the session, the Nifty50 broadly moved in the 16,950-17,250 band.SensexNifty 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.
Stock Market Today LIVE | Mishra Dhatu Nigam board meets today to consider dividend
Mishra Dhatu Nigam (MIDHANI) shares are holding on to the green, with a gain of Rs 2.7 or 1.4 per cent at Rs 195.7 apiece. Earlier in the day, the stock of the Hyderabad-based maker of specialised metals rose as much as 2.6 per cent to Rs 198 apiece.
Share MArket Today LIVE | Bajaj Auto launches updated Pulsar NS160, NS200 models; shares give up initial gains
Bajaj Auto shares are trading flat at this hour, having risen by as much as Rs 32.7 or 0.9 per cent to Rs 3,786 apiece on BSE.
Stocks in Focus Today | Maruti Suzuki, Bajaj Auto, Cipla, NBCC, RailTel in the spotlight
- Maruti Suzuki parent Suzuki Motor Corp raises stake in Indian carmaker to 56.48 per cent from 56.37 per cent: Reports
- Bajaj Auto rolls out updated Pulsar NS160 today
- Global Surfaces IPO ends for subscription today; at the end of second day of biding, IPO secured 1.1 times subscription with 1.5x bookings in retail portion
- Mishra Dhatu Nigam board meets today to consider an interim dividend
- Sportking India Rs 55-crore buyback via tender route opens, last date March 29
- Cipla, its subsidiaries Cipla (EU) Limited, UK and Meditab Holdings, and Meditab Holdings Ltd, Mauritius enter a share purchase pact with Africa Capitalworks SSA 3 for sale of 51.18 per cent stake held in Cipla Quality Chemical Industries, Uganda; CQCIL to cease to be a subsidiary of Cipla
- PNC Infratech emerges L1 bidder for Rs 1,260-crore six-lane road project
- RailTel bags Rs 288-crore order from Centre for Development of Advanced Computing (C-DAC)
- NBCC wins Rs 500 crore order from Puducherry government
- CarTrade Tech says SVB not a shareholder in company
- Divgi TorqTransfer Systems enters a second day in the secondary market after finishing listing day with a premium of about one per cent over its issue price
Stock Market Tips LIVE | Good time to buy, sell or hold Maruti, Dr Reddy, PVR, Voltas, IndusInd shares?
Top brokerages have a slew of stocks on their radar on March 15, from spaces ranging from automobiles to pharmaceuticals to financial services.
Here's what they make of the likes of Maruti Suzuki, Dr Reddy’s Laboratories (DRL), PVR, Voltas, IndusInd Bank and M&M Finance:
- Citi has Maruti Suzuki India among its top picks; the brokerage has retained a 'buy' call on the stock with a target price of Rs 12,500
- Morgan Stanley has 'overweight' call on Page Industries with a target price of Rs 44,500
- Jefferies initiates coverage on Sona BLW Precision Forgings (SONACOMS) with a 'buy' rating and a target price of Rs 575
- Macquarie has continued with an 'outperform' call on Dr Reddy's and raised its target price by Rs 335 to Rs 5,250
- Jefferies has maintained 'underperform' on LTIMindtree with a target of Rs 3,710
- Nomura has maintained a 'buy' call on Voltas with a target price of Rs 1,083
- BofA has retained a 'buy' rating on PVR with a target of Rs 2,405
Share Market Today LIVE | Maruti Suzuki shares rise after Suzuki Motor raises stake
Maruti Suzuki parent Suzuki Motor Corp raised its stake in the Indian auto major. Maruti Suzuki shares gain by as much as Rs 185.2 or 2.2 per cent to Rs 8,700.7 apiece on BSE.
Suzuki Motor has bought 3.5 lakh shares in Maruti Suzuki for about Rs 300 crore through open market transactions from March 10 to March 13, taking its stake in India's biggest carmaker to 56.5 per cent from 56.4 per cent.
In June 2020, Suzuki Motor had bought 2.8 lakh Maruti Szuki shares for Rs 204 crore.
Sensex LIVE | Larsen & Toubro, ICICI Bank, HDFC twins among top boosts for 30-scrip index
On the other hand, stocks such as Bharti Airtel, Hindustan Unilever and Infosys are posing maximum pressure on Sensex.
Share Market Today LIVE | Overall market breadth extremely positive; BSE adavance-decline ratio at 3:1
Overall market breadth is extremely bullish 25 minutes into the opening bell. On BSE, the advance-decline ratio is at almost 3:1 as 2,086 stocks are up against 753 that are down.
Sensex LIVE | Asian Paints, Titan, Tata Steel, Larsen & Toubro, Maruti Suzuki top gainers in 30-scrip basket; only three losers: Sun Pharma, HUL, Bharti Airtel
Share Market Today LIVE | Nifty crosses 17,200 mark, Sensex jumps over 550 pts aided by ICICI Bank, HDFC Bank, HDFC, other financial stocks
Both headline indices rise as much as one per cent within the first 10 minutes of trade. The Sensex adds 573.4 points to touch 58,473.6 at the strongest level of the day so far.
The Nifty50 climbs to as high as 17,211.4, up 168.1 points from its previous close.
Here's how their intraday charts are building up:
Sensex LIVE
Nifty LIVE
Share Market Today LIVE | Sensex rises over 350 pts in pre-open market, Nifty50 atop 17,150
In the pre-opening session, the Sensex finishes with a gain of 368.4 points or 0.6 per cent at 58,268.5, and the Nifty50 at 17,166.5, up 123.2 points or 0.7 per cent from its previous close.
Share Market Today LIVE | Realistic to expect 25-bp US rate hike in March 22 review, says Geojit's VK Vijayakumar
VK Vijayakumar of Geojit Financial Services says the US inflation print for February is "indicative of disinflation but the decline is at a pace much lower than what the Fed would like". It would, thus, be realistic to expect a hike of 25 basis points in the key US interest rates in the FOMC's March 22 review.
"This will restrain equity markets from staging a rally. The US bank crisis will be on back burner for now since the crisis news was overdone. For FIIs, the current negative sentiments in the market is favourable for sustained selling, which they have been doing for the last four sessions. Since the Indian economy is strong and the banking system robust, long-term investors can utilise the weakness in the market to accumulate high quality stocks, particularly large-caps. Capital goods is a strong segment," he adds.
Anil Singhvi LIVE Market Strategy | Support for Nifty50 at 16,950-17,050 levels, for Nifty Bank in 39,125-39,300 band
Zee Business Managing Editor Anil Singhvi sees a strong buy zone for the Nifty50 headline index coming in at 16,750-16,850 levels. For the Nifty Bank, he sees a strong buy area in the 38,725-38,950 band.
Read more on how Anil Singhvi views the share market today and what he recommends
Global Market LIVE | Asian shares in the green today as US inflation data takes away some of concerns about aggressive rate hike
Equities across other major markets in Asia hold on to the green zone after a positive start after a strong handover from Wall Street. MSCI's broadest index of Asia Pacific shares outside Japan is up 1.3 per cent at this hour.
Here's how some of the major indices in the region are moving:
- Japan's Nikkei 225: up 0.3 per cent
- China's Shanghai Composite: up 0.7 per cent
- Hong Kong's Hang Seng: up 1.9 per cent
- Singapore's Straits Times: up 1.4 per cent
- South Korea's KOSPI: up 1.8 per cent
Global Market LIVE | Dow Jones, Nasdaq, S&P 500 jump 1-2% as cooling US inflation eases worries about aggressive rate hikes, bank shares regain some strength after SVB-triggered sell-off
The three main US share market indices — the Dow Jones, the S&P 500 and the Nasdaq Composite — bounced back on Tuesday after a key US inflation reading showed consumer prices in the world's largest economy rose along expected lines last month, taking off some of the concerns about more of steep hikes in benchmark interest rates. Banking stocks also rebounded, after facing a sell-off that lasted days, as investors began to digest concerns about contagion in the sector owing ot the sudden collapse of Silicon Valley Bank (SVB).
Here's where the Dow Jones, the S&P 500 and the Nasdaq Composite settled for the day:
- Dow Jones Industrial Average: up 336.3 points or 1.1 per cent at 32,155.4
- S&P 500: up 63.5 points or 1.7 per cent at 3,919.3
- Nasdaq Composite: up 239.3 points or 2.1 per cent at 11,428.2
Share Market Today LIVE | Sensex, Nifty50 extended losses to 4th straight day on Tuesday to five-month closing lows
The Sensex finished the March 14 session with a cut of 337.7 points or 0.6 per cent at 57,900 — taking its total losses to 2,450 points in four back-to-back sessions, and the Nifty50 settleD at 17,043.3, down 111.00 points or 0.7 per cent from its previous close. Those marked their lowest closing levels since October 13, 2022.
Here's how the Sensex and the Nifty50 moved through the day:
Sensex
Share Market Today LIVE | SGX Nifty futures jump over 100 points, suggest a gap-up ahead on Dalal Street
Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty50 index — are up 105 points or 0.6 per cent at 17,216.5 at this hour, having risen as much as 126 points to 17,237.5 earlier in the day.A higher start, as indicated by SGX Nifty futures, could lift headline indices Sensex and Nifty50 from their five-month closing lows.Share Market Today LIVE | SGX Nifty futures jump over 100 points, suggest a gap-up ahead on Dalal Street
Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty50 index — are up 105 points or 0.6 per cent at 17,216.5 at this hour, having risen as much as 126 points to 17,237.5 earlier in the day.A higher start, as indicated by SGX Nifty futures, could lift headline indices Sensex and Nifty50 from their five-month closing lows.Good morning! Welcome to Zeebiz.com's blog on the stock market today
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