Stock Market HIGHLIGHTS: Nifty50 sinks below 17,400, Sensex ends 176 pts lower as market extends losses to 7th day
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 suffered sharp losses on Monday, extending losses to a seventh back-to-back session, mirroring weakness across Asian markets as fears about more of aggressive hikes in benchmark interest rates kept investors nervous. Investors back home await a key India GDP data due on Tuesday evening for domestic cues.
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 suffered sharp losses on Monday, extending losses to a seventh back-to-back session, mirroring weakness across Asian markets as fears about more of aggressive hikes in benchmark interest rates kept investors nervous. Investors back home await a key India GDP data due on Tuesday evening for domestic cues.
Adani Enterprises was the top loser in the Nifty50 basket, finishing the day almost 10 per cent lower. Bajaj Auto, UPL, Tata Steel and Infosys were some of the other top blue-chip laggards. On the other hand, ICICI Bank, PowerGrid, Kotak Mahindra Bank, HDFC Life and SBI rose the most among the 17 gainers in the 50-scrip universe.
Almost all of Adani group shares recmained under heavy selling pressure throughout the day, with Adani Enterprises (ADANIENT), Adani Transmission (ADANITRANS), Adani Green Energy (ADANIGREEN) and Adani Total Gas (ATGL) being the worst hit stocks from the basket. Read more on Adani shares
Among heavyweights, Infosys, TCS and Reliance were the biggest drags on the market, posing maximum pressure on Sensex.
Broader indices Nifty Midcap 100 and Nifty Smallcap 100 closed 0.7 per cent and 1.1 per cent lower respectively. Overall market breadth extremely favoured the bears, with an advance-decline ratio of 2:5 as 956 stocks rose and 2,593 fell at the close on BSE.
LIC shares slumped to a record closing low of Rs 567.8 apiece on the bourse.
The futures of Dow Jones, S&P 500 and Nasdaq Composite were up around half a per cent each, suggesting a positive start ahead on Wall Street.
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Stock Market Update | Sensex ends 176 pts lower at 59,288, Nifty50 sinks below 17,400; headline indices extend losses to 7th day in a row
The Sensex finishes the weak session with a loss of 175.6 points or 0.3 per cent at 59,288.4, having moved in a range of more than 500 points below the flatline during the session. The 30-scrip index hit 58,937.6 on the downside at the weakest level of the day. The Nifty50 settles at 17,392.7 for the day, down 73.1 points or 0.4 per cent from its previous close, after moving broadly in the 17,300-17,450 band during the session.
The Nifty50 Bank ends with a gain of one per cent at 40,307.1, after quoting in a range of more than 600 pts around the flatline.
Here's how the headline gauges moved through the day:
Sensex
Read more on the February 27 session
Global Market Update | Dow Jones, S&P 500, Nasdaq Composite futures rise around 0.5%, indicate a positive start ahead on Wall Street
- Dow Jones futures: up 0.4 per cent
- S&P 500 futures: up 0.5 per cent
- Nasdaq Composite futures: up 0.6 per cent
Share Market LIVE Update | Lodha, RHIM, Sanofi, Chemplast Sanmar rise most among around 130 gainers in BSE 500 universe
Nifty LIVE | ICICI Bank, HDFC, SBI among stocks saving headline index from deeper cuts
Stock Market LIVE Today | Sensex, Nifty50 off day's lows aided by financial stocks
Here's what the headline gauges' intraday charts look like 30 minutes ahead of the closing bell:
Sensex
Nifty50
Stock Market LIVE Today | Bajaj Auto shares plummet amid reports of 25% production cut from next month
Bajaj Auto shares succumb to selling pressure after reports suggest the Pune-based auto maker may trim production by 25 per cent from the next month. The Bajaj Auto stock falls by as much as Rs 213.7 or 5.5 per cent to Rs 3,637 apiece on BSE — their worst intraday fall in percentage terms since June 14, 2022.
Share Market Tips LIVE | Sell PFC, says Mehul Kothari
Mehul Kothari of Anand Rathi Shares & Stock Brokers shares two stock picks with Zee Business viewers:
- Sell Power Finance Corp (PFC) between Rs 141 and 142 for a target of Rs 132 with a stop loss at Rs 146
- Buy Triveni Turbines (TRITURBINE) on declines towards Rs 300 for a target of Rs 340 with a stop loss at Rs 280
Stock Market Tips LIVE | Mehul Kothari recommends buying Nifty Bank 40,000 put option
Mehul Kothari of Anand Rathi Shares & Stock Brokers suggests buying the 40,000 put option of Nifty Bank at Rs 140 for targets to the tune of Rs 250-300 with a stop loss at Rs 40.
Kothari also recommends buying the Rs 47 PNB put option at Re 0.25 for a target of Re 1.
PNB shares have moved in a range of Rs 47.2-48.3 so far today.
Share Market LIVE Today | Market has turned distinctly weak owing to FII selling gathering pace, says Geojit's VK Vijayakumar
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, believes the global market construct remains unfavourable with sharp cuts in the US on Friday after the release of US inflation data.
"Data that is hugely significant from the Indian market perspective is the declining influence of Indian retail investors. In 2021 and 2022, sustained retail buying helped in absorbing FII selling and this kept the market resilient... Since the Indian economy continues to be strong, investors can use weakness in the market to accumulate high quality stocks in banking, capital goods, IT, cement and across sectors," he says.
Share Market LIVE Update | SpiceJet board approves raising of Rs 2,500 crore via QIP; shares zoom
SpiceJet shares soar more than six per cent to Rs 42.2 apiece on BSE, after the airline's board approves a proposal to raise Rs 2500 crore through a qualified institutional placement (QIP), and a debt-to-equity swap with aircraft lessor Carlyle Aviation at Rs 48 per share.
Under the deal with Carlyle, SpiceJet will issue shares worth $2.95 crore against debt and convert compulsorily convertible debentures (CCDs) worth $6.55 crore towards lease liabilities, according to a regulatory filing.
Nifty50 LIVE | Adani Enterprises, Bajaj Auto, Eicher Motors worst hit among 39 losers in 50-scrip basket
Top Nifty50 losers
Stock CMP Change (%) ADANIENT 1,231.4 -6.4 BAJAJ-AUTO 3,659.8 -4.9 EICHERMOT 3,109.2 -3.0 UPL 717.5 -2.8 TATASTEEL 106.8 -2.7 Top Nifty50 gainers
Stock CMP Change (%) KOTAKBANK 1,723.1 1.5 ICICIBANK 851.7 1.4 SBIN 526.1 1.0 HDFC 2,600.2 0.9 NTPC 172.0 0.6 Sensex LIVE | Infosys, Tata Steel, Tata Motors, Mahindra & Mahindra, TCS top laggards in 30-scrip pack
Stock Market LIVE Update | Marico board declares dividend of Rs 4.5 per share
Marico shares extend the day's losses after the news, falling by as much as Rs 10.8 or 2.2 per cent to Rs 488 apiece on BSE. At the weakest level of the day so far, the FMCG stock changes hands within Rs 20 of a 52-week low, hit in March 2022.
Stock Market Tips Today | Sneha Seth recommends buying GSPL shares
Sneha Seth of Angel One recommends buying Gujarat State Petronet shares for a target of Rs 294 with a stop loss at Rs 280.
Stock Market LIVE Today | Adani Enterprises (ADANIENT) shares tank 7% to Rs 1,222 as group stocks reel under pressure
Adani Enterprises shares weaken by as much as Rs 92.6 — or seven per cent — to Rs 1,222.2 apiece on BSE, falling for the seventh back-to-back session in a row.
Share Market LIVE Today | Adani Enterprises tumbles 5%; barring Adani Ports, all group stocks remain under heavy selling pressure
Stock Change (%) CMP (rupees) Adani Enterprises (ADANIENT) -5.1 1247.7 Adani Transmission (ADANITRANS) -5 676.4 Adani Green Energy (ADANIGREEN) -5 462.5 Adani Total Gas (ATGL) -5 716 NDTV -4.9 181.3 Adani Power (ADANIPOWER) -4.8 139.7 Adani Wilmar (AWL) -4.6 345.7 Ambuja Cements (AMBUJACEM) -2.8 335.7 ACC -1.7 1,699.4 Adani Ports (ADANIPORTS) 0.5 561.8 Share Market LIVE Today | Marico board to consider dividend today; shares under pressure
Marico shares decline by as much as Rs 7.6 or 1.5 per cent to Rs 491.3 apiece on BSE. The company's board meets today to consider an interim dividend for its shareholders.
Stock Market LIVE Today | How Paytm shares have moved since Nov 2021 listing so far
Sensex LIVE | Infosys, Reliance, TCS, Bharti Airtel drag 30-scrip index
Here's a look at the top movers and shakers in the Sensex basket at this hour:
Editor's Take | Wait and watch on Paytm
Zee Business Managing Editor Anil Singhvi recommends a wait-and-watch approach on Paytm shares. "The stock is not meant for day trading, which is why we don't have a 'buy' or 'sell' rating on it," he says.
Stock Market LIVE Today | Paytm shares jump; is there a Bharti Airtel connection?
Paytm parent One97 Communications's shares jump by as much as Rs 32.1 or 5.1 per cent to Rs 655.3 apiece on BSE. According to a report by news agency Bloomberg, Bharti Airtel's billionaire Chairman, Sunil Bharti Mittal, may pick a stake in Paytm.
Paytm tells Zee Business that there are no talks about a stake sale at the company, refusing to comment on the report. The digital payments company also says its entire focus remains on organic growth.
Share Market LIVE Today | Sensex, Nifty50 off day's lows aided by HDFC twins, ICICI Bank, SBI amid volatile trade
Here's how the headline indices' intraday charts are building up so far:
Sensex
Nifty50
Stock Market LIVE Update | Sensex drops over 350 pts, Nifty50 cracks below 17,400
Both headline indices fall as much as 0.6 per cent within the first 20 minutes of trade. The Sensex sheds 354.8 points to hit 59,109.1 on the downside at the weakest level of the day so far, and hte Nifty50 slips to as low as 17,358.4, declining 107.4 points from its previous close.
Stock Market LIVE Today | Sensex down over 100 pts in pre-open market, Nifty50 below 17,500
In the pre-opening session, the Sensex finishes 132.6 points or 0.2 per cent lower at 59,331.3 and the Nifty50 settles at 17,465.8, down 45.5 points or 0.3 per cent from its previous close.
Stock Market Tips LIVE | Buy, sell or hold strategy on SpiceJet, DLF, ONGC, NBCC, Dreamfolks, other stocks in today's edition of Zee Business Traders' Diary
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 DLF futures for a target of Rs 355 with a stop loss at Rs 343
- Arman Nahar suggests buying NBCC shares in the spot market for a target of Rs 34 with a stop loss at Rs 32.5
Anil Singhvi Market Strategy Today | Support for Nifty50 at 17,350-17,425 levels
Zee Business Managing Editor Anil Singhvi a strong support zone for the Nifty50 benchmark in the 17,250-17,300 area.
For the Nifty Bank, he sees support emerging in the 39,425-39,600 band, and a strong support zone in the 39,100-39,300 area.
Read more on how Anil Singhvi views the market today and what he recommends
Global Market News | Dow Jones, S&P 500, Nasdaq Composite tumbled on Friday as investors brace for steep rate hikes
The three main Wall Street indices — the Dow Jones, the S&P 500 and the Nasdaq Composite —posted their biggest weekly drop of 2023 after sharp losses on Friday, as investors braced for the possibility of more aggressive rate hikes from the Fed as US economic data pointed to resilient consumers.
- Dow Jones: down one per cent
- S&P 500: down 1.1 per cent
- Nasdaq Composite: down 1.7 per cent
The Dow Jones lost three per cent for the week — its biggest weekly decline since September and a fourth straight weekly decline.
Global Market LIVE | Asian shares reflect weakness on Wall Street as investors brace for higher-for-longer interest rates
Equities in other major Asian markets begin the week in the red as investors price in ever-loftier peaks for benchmark interest in the US and Europe. MSCI's broadest index of Asia Pacific shares outside Japan is trading half a per cent lower at this hour.
Here's what some of the major indices in the region look like:
- Japan's Nikkei 225: down 0.2 per cent
- China's Shanghai Composite: flat
- Hong Kong's Hang Seng: down 0.2 per cent
- South Korea's KOSPI: down 0.9 per cent
- Singapore's Straits Times: down 0.4 per cent
Stock Market LIVE | SGX Nifty futures indicate a weak start ahead for Nifty50, Sensex today
Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty50 index — are down 10.5 or 0.1 per cent at 17,532 at this hour, suggesting minor losses at the opening on Dalal Street. Earlier in the day so far, SGX Nifty futures declined as much as 89.5 points to 17,453.
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