Share Market HIGHLIGHTS: Sensex, Nifty50 halt two-day winning run amid weakness in financial, oil & gas, FMCG stocks
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex finished a weak session on Monday, March 11, about three-quarters of a percentage point lower amid weakness across sectors, wherein financial, oil & gas and FMCG stocks were the worst hit. Dalal Street tracked negative cues from most global markets as investors exercised caution ahead of a key US inflation reading due this week that may shed light on the timing of imminent reductions in benchmark interest rates in the world's largest economy.
ALSO READ: DoT to kick off mega spectrum auction on May 20; what does it mean for industry?
Meanwhile, here are some of the stocks that made headlines:
- Realty stocks in focus after Sebi revisits framework for small and medium REITs
- Supreme Court orders SBI to share electoral bond details by Tuesday; shares fall
- After Tata Motors, what if M&M demerges key units? Here’s what HSBC analysts say
- InterGlobe Aviation shares surge after 3.9% equity changes hands via block deals
- RVNL shares zoom after railway PSU firm bags orders worth Rs 2,093 crore
- Is Tata Sons looking to avoid IPO? Tata Chemicals, Rallis India slump
- Multibagger NLC India shares jump as OFS opens
Catch all the highlights of the March 11 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex finished a weak session on Monday, March 11, about three-quarters of a percentage point lower amid weakness across sectors, wherein financial, oil & gas and FMCG stocks were the worst hit. Dalal Street tracked negative cues from most global markets as investors exercised caution ahead of a key US inflation reading due this week that may shed light on the timing of imminent reductions in benchmark interest rates in the world's largest economy.
ALSO READ: DoT to kick off mega spectrum auction on May 20; what does it mean for industry?
Meanwhile, here are some of the stocks that made headlines:
- Realty stocks in focus after Sebi revisits framework for small and medium REITs
- Supreme Court orders SBI to share electoral bond details by Tuesday; shares fall
- After Tata Motors, what if M&M demerges key units? Here’s what HSBC analysts say
- InterGlobe Aviation shares surge after 3.9% equity changes hands via block deals
- RVNL shares zoom after railway PSU firm bags orders worth Rs 2,093 crore
- Is Tata Sons looking to avoid IPO? Tata Chemicals, Rallis India slump
- Multibagger NLC India shares jump as OFS opens
Catch all the highlights of the March 11 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
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Share Market Today: Tata Consumer Products, Power Grid, Bajaj Auto, Tata Steel, SBI worst hit among 33 Nifty laggards; Apollo Hospitals, Nestle India, SBI Life, Cipla, Dr Reddy's top gainers
Top Nifty losers
| Index | March 11 close | Change (%) |
| TATACONSUM | 1,223.00 | -3.06 |
| POWERGRID | 284.85 | -2.67 |
| BAJAJ-AUTO | 8,654.20 | -2.53 |
| TATASTEEL | 153.75 | -2.23 |
| SBIN | 773.95 | -1.79 |
| INDUSINDBK | 1,538.00 | -1.65 |
| ONGC | 273.9 | -1.51 |
| NTPC | 347.1 | -1.45 |
| COALINDIA | 452.5 | -1.33 |
| HDFCBANK | 1,427.00 | -1.32 |
Top Nifty gainers
| Index | March 11 close | Change (%) |
| APOLLOHOSP | 6,210.00 | 2.66 |
| NESTLEIND | 2,610.00 | 1.92 |
| SBILIFE | 1,534.00 | 1.56 |
| CIPLA | 1,505.00 | 1.47 |
| DRREDDY | 6,390.00 | 1.04 |
| BRITANNIA | 4,933.20 | 0.9 |
| BAJAJFINSV | 1,595.00 | 0.77 |
| ASIANPAINT | 2,880.00 | 0.33 |
| TCS | 4,120.00 | 0.28 |
| GRASIM | 2,234.00 | 0.26 |
Share Market Today: Most sectoral indices in the red; Nifty PSU Bank, Nifty Metal among top losers
NSE sectoral indices
| Index | March 11 close | Change (%) |
| NIFTY MEDIA | 1,930.50 | -2.91 |
| NIFTY PSU BANK | 7,225.00 | -1.58 |
| NIFTY METAL | 8,250.75 | -1.44 |
| NIFTY REALTY | 906.55 | -1.09 |
| NIFTY BANK | 47,327.85 | -1.06 |
| NIFTY PRIVATE BANK | 23,595.00 | -1.06 |
| NIFTY OIL & GAS | 11,643.55 | -1.06 |
| NIFTY CONSUMER DURABLES | 32,540.30 | -0.74 |
| NIFTY FINANCIAL SERVICES | 20,862.55 | -0.68 |
| NIFTY AUTO | 21,001.15 | -0.59 |
| NIFTY FMCG | 54,087.45 | -0.59 |
| NIFTY IT | 36,988.30 | -0.3 |
| NIFTY PHARMA | 19,202.05 | 0.04 |
| NIFTY HEALTHCARE INDEX | 12,043.40 | 0.44 |
BSE
| Index | March 11 close | Change (%) |
| S&P BSE Telecommunication | 2,460.81 | -2.4 |
| S&P BSE METAL | 28,336.36 | -1.39 |
| S&P BSE Utilities | 5,573.62 | -1.25 |
| S&P BSE REALTY | 7,152.23 | -1.16 |
| S&P BSE Energy | 12,193.01 | -1.15 |
| S&P BSE BANKEX | 53,787.34 | -1.12 |
| S&P BSE Commodities | 6,624.99 | -1.11 |
| S&P BSE POWER | 6,755.52 | -1.08 |
| S&P BSE Industrials | 12,372.89 | -1.03 |
| S&P BSE Consumer Discretionary | 8,504.66 | -0.86 |
| S&P BSE Financial Services | 10,325.74 | -0.85 |
| S&P BSE CONSUMER DURABLES | 52,228.55 | -0.84 |
| S&P BSE OIL & GAS | 28,252.05 | -0.75 |
| S&P BSE Services | 1,365.57 | -0.74 |
| S&P BSE Fast Moving Consumer Goods | 19,418.10 | -0.7 |
| S&P BSE AUTO | 48,099.68 | -0.6 |
| S&P BSE Information Technology | 37,524.07 | -0.58 |
| S&P BSE CAPITAL GOODS | 59,133.86 | -0.56 |
| S&P BSE TECK | 16,801.24 | -0.54 |
| S&P BSE Healthcare | 34,927.88 | 0.09 |
Share Market Today: Sensex ends over 600 pts lower, Nifty cracks below 22,350
Share Market Today LIVE | Realty stocks in focus after Sebi revisits framework for small and medium real estate investment trusts
The market watchdog Securities and Exchange Board of India's (SEBI) moved to regulate fractional ownership of real estate is a big positive for investors, as per experts. They believe that this move will ensure uniformity, protect investor interests, promote fairness and transparency, and provide access to mechanisms for dispute resolution.
"The regulation of the fractional ownership industry under this framework will encompass both commercial and residential properties, thereby enhancing investor protection," said Aankush Ahuja, Founder and CEO, of FOIP.
Ahuja added that this move creates numerous opportunities for retail and institutional investors to participate in office-yielding real estate across various market sizes and product types.
Along similar lines, Shravan Gupta, founder and CEO of YOURS, a platform for fractional ownership of luxury second homes, said that through these amendments, the regulatory body seeks to not only regulate and organise the fractional ownership segment but also enhance transparency in the sector. Read more
Share Market Today LIVE | After Tata Motors, what if M&M demerges key units? Here’s what HSBC analysts say
Tata group auto giant Tata Motors’ decision to demerge its passenger vehicle and commercial vehicle businesses into two separate listed entities has raised questions on the possibility of rival auto manufacturers taking similar steps. In a research report, analysts at foreign brokerage HSBC have pointed out that a move by Mahindra & Mahindra (M&M) to demerge its farm and auto businesses may unlock significant value for investors.
Last week, Tata Motors announced its decision to split its PV and CV businesses into two listed firms, separating its commercial vehicle business from its passenger vehicle arm. The passenger vehicle company will house Tata Motors' lucrative Jaguar Land Rover business, the Tata group company mentioned.
How HSBC analysts view M&M
HSBC pointed out that M&M continues to perform well operationally, driven by the performance of its SUVs launches, with steady upside risks from demand for its tractors. Read more
IPO Update| Gopal Snacks IPO subscribed 5x on Day 3 so far
According to provisional exchange data, Gopal Snacks IPO's share sale received bids for 6,83,88,913 shares against 1,19,79,993 shares on offer, translating into a subscription of 5.71 per cent on Monday, the third day of the bidding process so far. Read more
| Category | Subscription (No. of times the equity reserved) |
| Qualified institutional buyers | 9.82 |
| Non-institutional investors | 5.52 |
| Retail investors | 3.43 |
| Overall | 5.71 |
| Source: Exchange data | |
Share Market Today LIVE | RVNL shares zoom after railway PSU firm bags four orders worth Rs 2,093 crore
Shares of Rail Vikas Nigham trade 4.85 per cent higher at Rs 249.55 on BSE on bagging four orders worth 2,093 crore.
RVNL new orders, RVNL latest orders
Indian Railways PSU informed exchanges on March 9 that it has received an order from the Madhya Pradesh Metro Rail Corporation to design and build an elevated viaduct, five elevated metro stations, and a ramp between chainages. According to the exchange filing, the project is slated for completion in 1,092 days, with the total cost of the order amounting to Rs 543 crore.
In addition, the railway construction company received an order from the Himachal Pradesh State Electricity Board for the development of distribution infrastructure at SOUTH ZONE of Himachal Pradesh under the Revamped Reforms-Based and Results-Linked Distribution Sector Scheme (Loss Reduction Works). The project is slated for completion in 24 months, with the total cost of the order amounting to Rs 888 crore. Read more
Stocks to Buy | TCS, Nestle India, Exide, IPCA Labs, Biocon among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Mehul Kothari, Kunal Saraogi, Sumeet Bagadia and Sandeep Jain share their top stock recommendations in this special segment, Pick of the Day.
On the top analysts' 'buy' list are stocks such as Nestle, Tata Consultancy Services, Exide Industries, Biocon, IPCA Laboratories, Glenmark Pharmaceuticals and Apar Industries. Read more
Share Market Today LIVE | HDFC Bank declines as CLSA downgrades stock to ‘outperform’
HDFC Bank shares have been underperforming since their Q3 results and have shed as much as 14 per cent since the release of December quarter numbers on January 16, 2024.
Moreover, the bank is also on analysts’ radar and has been constantly witnessing upgrades and downgrades.After LKP Securities recommended a strong buy on the counter last week with a 1-year target of Rs 1,762, CLSA has downgraded the stock with an ‘outperform’ view as against the earlier ‘buy’ call. The new target is pegged at Rs 1,650 per share, as against Rs 2,025 earlier.The foreign brokerage maintains that the challenge of deposit accretion manifests in lower loan growth. While the merger with HDFC does provide long-term benefits, the medium-term poses more challenges than upsides, it added. Read more
Share Market Today LIVE | Titagarh Rail Systems trade in green firm gets Rs 1909 crore order from Indian Railways
Titagarh Rail Systems trade at Rs 909.95, up 1.2 per cent on NSE after the rolling stock manufacturer received a Rs 1909 crore order from Indian Railways.
Titagarh Rail Systems order
Titagarh Rail Systems has received an order from Railways for the manufacture and supply of Wagons.
Titagarh Rail Systems said in a statement on Thursday, "The Company has accepted the offer from the Railway Board for Manufacture and supply of 4,463 BOSM Wagons for a contract value of Rs. 1909,04,82,500/- (Rupees One Thousand Nine Hundred Nine Crores Four Lakhs Eighty Thousand Five Hundred only)." Read more
Share Market Today LIVE | Nifty slides below 22,400, Sensex falls 350 pts led by financial stocks
Share Market Today LIVE | Should you buy Tata Motors, M&M, BEL, HAL, GAIL, SBI, other stocks today?
As Dalal Street enters the March 11 session, brokerages have a dozen stocks on their radar. Here's what CLSA, JPMorgan, HSBC, Jefferies, Morgan Stanley and Bernstein make of stocks such as Tata Motors, Mahindra & Mahindra (M&M), Bharat Electronics Ltd (BEL), Hindustan Aeronautics Ltd (HAL), GAIL and State Bank of India (SBI):
HDFC Bank share price target: CLSA has a 'outperform' rating on the HDFC Bank stock with a target of Rs 1,650
Maruti Suzuki share price target: CLSA has maintianed an 'outperform' rating on the Maruti Suzuki India stock with a target of Rs 12,890
Tata Motors share price target: JPMorgan has maintained an 'overweight' rating on the Tata Motors stock with a target of Rs 1,050
M&M share price target: HSBC has maintained a 'buy' call on the Mahindra & Mahindra (M&M) stock with a target of Rs 2,300.
JP Morgan has mainatained an 'overweight' rating on M&M shares with a target of Rs 2,015
LTIMindtree share price target: Jefferies has maintained a 'buy' call on the LTIMindtree stock with a target of Rs 5,890.
Morgan Stanley has maintained an 'equal-weight' rating on the LTIMindtree stock with a target of Rs 5,700.
Voltas share price target: Morgan Stanley has an 'equal-weigh' rating on the Voltas stock with a target of Rs 1,160. Read more
Share Market Today LIVE | Nifty Bank trades nearly 200 pts lower
Source: NSE
Share Market Today LIVE | Cipla hits all-time high, stock surges over 70% in one year
Pharma giant Cipla shares hit an all-time high of Rs 1,519 on BSE on Monday. The stock of the large-cap pharma firm has soared nearly five per cent in the last one month. While its rise in the six-month period is over 20 per cent, it has skyrocketed by over 70 per cent in the one year. Read more