Stock Market HIGHLIGHTS: Sensex ends 522 pts below day's high, Nifty50 near 17,300 ahead of GDP data
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 extended losses to the eighth session in a row on Tuesday amid cautious gains across global markets as investors continue to fret over the possibility of aggressive hikes in interest rates and their impact on growth. Investors await key data on India's GDP due later in the day for domestic cues.
Catch all the market action, market commentary and analysis only on Zeebiz.com's blog here, besides the views of Zee Business Managing Editor Anil Singhvi and other experts, financial results, investment ideas and stock picks:
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 extended losses to the eighth session in a row on Tuesday amid cautious gains across global markets as investors continue to fret over the possibility of aggressive hikes in interest rates and their impact on growth. Investors await key data on India's GDP due later in the day for domestic cues.
Catch all the market action, market commentary and analysis only on Zeebiz.com's blog here, besides the views of Zee Business Managing Editor Anil Singhvi and other experts, financial results, investment ideas and stock picks:
Latest Updates
Share Market Update | Sensex, Nifty50 close lower for eighth day in a row
Both headline indices finish lower for the eighth back-to-back session, with the Sensex losing 326.2 points or 0.6 per cent to settle at 58,962.1. The Sensex gyrated in a range of almost 700 points around the flatline during the volatile session.
The Nifty50 gives up 88.8 points or 0.5 per cent to end at 17,304.
Here's a look at how the main gauges moved through the day:
Sensex
Nifty50
Read more on the February 28 session
Share Market LIVE Today | Vedanta, RVNL, Paytm, Indiabulls Real Estate, AdaniTrans worst hit among some 225 losers in BSE 500
Share Market LIVE Today | Pharma stocks mixed as drug regulator fixes retail prices of 74 formulations
Ten stocks in the Nifty Pharma index are in positive territory at this hour.
Cipla cracks the most on NSE, falling around three per cent, followed by Glenmark, Biocon, Alkem and Dr Reddy’s, quoting 0.5-2 per cent lower.
Share Market Tips LIVE | Chandan Taparia recommends selling Nifty50 futures, target 17,200
Chandan Taparia of Motilal Oswal Financial Services suggests selling Nifty50 futures for a target of 17,200 with a stop loss at 17,442.
Share Market Tips LIVE | Nilesh Jain positive on SBI, AB Capital shares
Nilesh Jain of Centrum Broking shares three trade recommendations with Zee Business viewers:
- Buy the Rs 530 call option of SBI at Rs 13.5 for a target price of Rs 21 with a stop loss at Rs 10
- Buy the Rs 285 put option of Vedanta at Rs 9.35 for a target of Rs 13.5 with a stop loss at Rs 8
- Buy AB Capital shares for a target of Rs 155 with a stop loss at Rs 140.5
Stock Market Tips LIVE | Buy ICICI Bank Rs 860 call option, Voltas in spot market, says Sneha Seth
Sneha Seth of Angel One shares two stock picks:
- Buy Voltas shares for a target of Rs 927 with a stop loss at Rs 884
- Buy the RS 860 call option of ICICI Bank for a target of Rs 34.5 with a stop loss at Rs 6.75
Stock Market Tips LIVE | Shivangi Sarda recommends buying Voltas, Maruti Suzuki shares
Shivangi Sarda of Motilal Oswal Financial Services shares two stock picks with Zee Business viewers:
- Buy Voltas for a target of Rs 940 with a stop loss at Rs 888
- Buy Maruti Suzuki for a target of Rs 9,000 with a stop loss at Rs 8,480
India GDP data due today; here's what to expect
According to Zee Business research, the country's GDP is estimated to have grown 4.6 per cent in the quarter ended December 2022.
The official reading is due at 5:30 pm today.
Nifty50 LIVE | Selling pressure in Reliance, ITC, ICICI Bank, Infosys, Hindalco keeps 50-scrip headline index in red territory
MSCI index changes to come into force at end of day; Bank of Baroda, CG Power to be included, Biocon to be excluded in Global Standard gauge
MSCI has reduced the weightage of Adani Enterprises, HCL Tech, JSPL, Shriram Finance and ACC. THe index provider has raised the weightage of Reliance, HDFC, ICICI Bank, Infosys and TCS.
The changes will take effect at the end of the trading day.
Stock Market LIVE Today | HDFC twins, M&M, TCS, L&T, Tata Motors top boosts for Sensex
Here's a look at key movers and shakers in the 30-scrip universe at this hour:
Sensex LIVE | Mahindra & Mahindra, Tata Motors, Tech Mahindra, Bajaj Finserv, TCS rise most among 18 gainers in 30-scrip basket
Nifty LIVE | Mahindra & Mahindra, Bajaj Auto among top gainers; Cipla, Hindalco among top laggards
An equal number of stocks are rising and falling in the Nifty50 basket an hour into the opening bell. Here's a look at the top gainers and losers in the 50-scrip pack:
Top Nifty gainers
| Stock | Change (%) | CMP |
| M&M | 1.9 | 1,281 |
| BAJAJ-AUTO | 1.6 | 3,699 |
| ADANIENT | 1.2 | 1,208 |
| TECHM | 1 | 1,125.3 |
| TATAMOTORS | 1 | 422.1 |
| BRITANNIA | 0.9 | 4,426.1 |
| ADANIPORTS | 0.8 | 566.2 |
| TCS | 0.7 | 3,355.8 |
| SUNPHARMA | 0.7 | 972 |
| HDFC | 0.5 | 2,606.1 |
Top Nifty losers
| Stock | Change (%) | CMP |
| SBILIFE | -0.6 | 1,121.9 |
| RELIANCE | -0.7 | 2,351.8 |
| UPL | -0.7 | 703.4 |
| JSWSTEEL | -0.7 | 675.6 |
| SBIN | -0.7 | 523.9 |
| ITC | -0.9 | 378.9 |
| DRREDDY | -1 | 4,378.9 |
| COALINDIA | -1.6 | 213.5 |
| HINDALCO | -1.8 | 404.6 |
| CIPLA | -2 | 931.4 |
Share Market LIVE Today | Sensex, Nifty50 stuck in narrow range around flatline
The Sensex gyrates in a range of more than 200 pts around the flatline — between 59,227.7 and 59,433.2 — in early deals. The Nifty50 broadly stays stuck within the 17,350-17,450 band.
Here's how the headline indices' charts are building up in the first 10 minutes of trade:
Sensex
Nifty50
Stock Market LIVE Today | Sensex, Nifty50 a mixed bag in pre-open market
The Sensex finishes the pre-opening session with a gain of 58.3 points or 0.1 per cent at 59,346.6 and the Nifty50 settles at 17,383.3, down 9.5 points or 0.1 per cent from its previous close.