Share Market HIGHLIGHTS: Nifty slides to 21,998, Sensex tumbles 906 pts amid broad-based sell-off
Share Market Today LIVE: Domestic equity benchmarks Nifty50 and Sensex gave up initial gains amid volatile trade on Wednesday, March 13. Catch minute-by-minute updates of all the action 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.coms blog.
Share Market Today LIVE: Domestic equity benchmarks Nifty50 and Sensex gave up initial gains amid volatile trade on Wednesday, March 13.
Catch minute-by-minute updates of all the action 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:
Latest Updates
Share Market Today LIVE: Broader indices Nifty Midcap 100, Nifty Smallcap 100 sink
Index Mar 13 close Change (%) NIFTY 500 19,646.30 -2.6 NIFTY MIDCAP 100 45,971.40 -4.4 NIFTY SMALLCAP 100 14,295.05 -5.28 Meanwhile, the Nifty 500, the broadest index on NSE, finishes 2.6 per cent lower.
Share Market Today: Power Grid, Coal India, Adani Enterprises, NTPC, Adani Ports, Tata Steel, ONGC worst hit among 43 Nifty losers
Top Nifty losers
Stock Mar 13 close Change (%) TITAN 3,630.00 -3.17 BHARTIARTL 1,164.90 -3.27 HEROMOTOCO 4,501.15 -3.39 JSWSTEEL 789.3 -3.48 BPCL 599.35 -4.17 HINDALCO 506.7 -4.21 TATAMOTORS 973.15 -4.26 UPL 452 -4.65 ONGC 256.1 -5.29 TATASTEEL 143.35 -6 ADANIPORTS 1,217.05 -6.47 NTPC 321.65 -6.7 ADANIENT 2,909.80 -6.81 COALINDIA 417.85 -7 POWERGRID 265 -7.07 Top Nifty gainers
Stock Mar 13 close Change (%) ITC 422 4.34 ICICIBANK 1,082.00 0.48 Share Market Today LIVE: Nifty Metal worst hit among NSE sectoral indices, down 5.7%
Index Mar 13 close Change (%) NIFTY METAL 7,647.40 -5.69 NIFTY MEDIA 1,788.35 -5.62 NIFTY REALTY 826.5 -5.32 NIFTY OIL & GAS 11,025.40 -4.87 NIFTY PSU BANK 6,737.45 -4.28 NIFTY AUTO 20,338.25 -2.84 NIFTY CONSUMER DURABLES 31,269.05 -2.82 NIFTY HEALTHCARE INDEX 11,697.05 -1.84 NIFTY PHARMA 18,635.70 -1.7 NIFTY IT 36,946.45 -0.75 NIFTY PRIVATE BANK 23,441.10 -0.7 NIFTY FINANCIAL SERVICES 20,758.20 -0.67 NIFTY BANK 46,981.30 -0.64 NIFTY FMCG 53,664.15 0.05 Forex Market Update: Rupee ends at 82.86 vs dollar
The rupee finishes the day with a loss of nine paise against the American currency.
Share Market Today: Nifty slides to 21,998, Sensex tumbles 906 pts amid broad-based sell-off
It is just the beginning: Analysts on sharp correction in mid-and small-cap stocks
The mid-and small-cap stocks continued to face selling pressure for the third straight session on Wednesday, March 13, amid all-around concerns regarding the stretched valuations in the segment. The Nifty Midcap 100 logged its worst intraday fall since January 23, while the Nifty Smallcap 100 also saw its worst day after February 12, 2024.
A few days ago, Sebi flagged froth in the broader market. The Sebi chairperson, Madhabi Puri Buch, said that there may be pockets of "irrational exuberance" in the equity market. The statement by the Sebi chief led to investors dumping the second-rung stocks that have seen a meteoric rise in the past one year.
As per Zee Business research desk, both the Nifty Midcap 100 and Nifty Smallcap 100 logged their all-time highs of 49,780.65 and 15,489.5, respectively, on February 8 and since then have lost 7.2 per cent and 14 per cent, respectively.
Share Market Today LIVE: 66 stocks in Nifty 500 universe slide below 50-day moving averages
Besides, as many as 60 stocks in the broadest index on NSE are below their 100-day moving averages (DMA).
What is a moving average?
Moving average is a widely used technical analysis tool in the stock market. It calculates the average price of a stock over a specific period, typically 50 or 200 days. This indicator smoothens out price fluctuations, providing a clearer trend direction.
Investors use moving averages to identify potential buy or sell signals. For instance, a moving average above the stock price indicates a bullish trend, whereas a moving average below signals a bearish trend.
Share Market Today: Nifty Realty, Nifty Metal worst hit among NSE sectoral indices
Index Current Change (%) NIFTY REALTY 821.6 -5.88 NIFTY METAL 7,655.25 -5.59 NIFTY MEDIA 1,793.40 -5.35 NIFTY OIL & GAS 11,063.20 -4.54 NIFTY PSU BANK 6,728.90 -4.41 NIFTY CONSUMER DURABLES 31,185.30 -3.09 NIFTY AUTO 20,344.00 -2.81 NIFTY HEALTHCARE INDEX 11,655.05 -2.19 NIFTY PHARMA 18,566.00 -2.07 NIFTY IT 36,873.05 -0.94 NIFTY FINANCIAL SERVICES 20,719.20 -0.85 NIFTY PRIVATE BANK 23,405.50 -0.85 NIFTY BANK 46,885.85 -0.84 NIFTY FMCG 53,596.55 -0.07 Share Market Today LIVE: Sensex nosedives over 1,050 pts, Nifty sinks below 22,000 for first time since February 29
The Sensex tanks as much as 1,066.3 points to hit 72,601.6 on the downside while the Nifty50 descends to as low as 21,943.9, down 391.9 points from its previous close.
Share Market Today LIVE: Jubilant FoodWorks stock slips after business updates; what is the pain point?
Jubilant FoodWorks shares are down 2.7 per cent at Rs 433.3 apiece at this hour, having fallen to as low as 426.3 apiece in intraday trade so far.Share Market Today LIVE: ITC market value surges by Rs 32,127 crore
Cigarettes-to-hotels conglomerate ITC's shares jump as much as 8.6 per cent to Rs 439 apiece on BSE, adding Rs 32,127 crore to the company's market capitalisation (mcap), according to provisional exchange data.
ITC has remained the top gainer on Sensex and Nifty50 for much of the day so far.
On Tuesday, British multinational BAT PLC said it plans to sell up to 3.5 per cent stake in ITC Ltd to institutional investors through a block trade. BAT PLC, the single largest shareholder in ITC, said its wholly-owned subsidiary Tobacco Manufacturers (India) Ltd (TMI) intends to sell up to 43,68,51,457 ordinary shares in the Indian diversified entity to institutional investors by way of an accelerated bookbuild process (block trade), subject to customary closing conditions.
BAT's initial investment in ITC dates back to the early 1900s and the two companies have a longstanding, mutually beneficial relationship.
Share Market Today LIVE: Nifty50 off day's low after hitting 22,041 on the downside
The Nifty50 has broadly moved within a 400-odd-point range so far in intraday trade.
NSE's India VIX index, often referred to as the fear index in market parlance, is up 5.5 per cent at 14.38, having surged as much as 7.7 per cent earlier in the day.
Day not far when India will produce semiconductor chips on commercial basis: PM Modi
India will soon start commercial production of semiconductors and related products and become a global power in this sector similar to the technology, nuclear, and digital spaces, said Prime Minister Narendra Modi as he laid foundation stones for three new semiconductor plants in the country on Wednesday.
"The decisions and policies of today will give us a strategic advantage in future," the Prime Minister said in his virtual address during the foundation laying ceremony.
PM Modi dedicates to nation Rs 1.25 lakh-crore semiconductor facilities, says India taking big step towards bright future
Prime Minister Narendra Modi on Wednesday dedicated to the nation three semiconductor projects, estimated to be worth Rs 1.25 lakh crore, as part of the central government's 'India Semiconductor Mission' aimed at creating an end-to-end semiconductor ecosystem to enable the country to lead the global semiconductor industry.
Share Market Today LIVE: Nifty Metal index tanks 4.5% as Nalco, Hindustan Copper, SAIL, Adani Enterprises stocks plunge
Stock CMP Change (%) APLAPOLLO 1,601.85 0.58 HINDZINC 302 -2.09 JSWSTEEL 799.2 -2.27 RATNAMANI 2,616.00 -3.15 HINDALCO 508.55 -3.86 JINDALSTEL 775.35 -3.94 TATASTEEL 145.65 -4.49 VEDL 256.45 -5.12 WELCORP 495.7 -5.56 JSL 617.95 -6.12 NMDC 209.65 -6.2 ADANIENT 2,923.80 -6.36 SAIL 121.45 -6.4 HINDCOPPER 238.65 -6.81 NATIONALUM 137.75 -9.17 Share Market Today LIVE: Broader segments dampen sentiment on Dalal Street
Index Current Change (%) NIFTY 500 19,789.85 -1.89 NIFTY MIDCAP 50 13,365.05 -2.58 NIFTY MIDCAP 100 46,510.70 -3.28 NIFTY SMALLCAP 100 14,477.20 -4.07 NIFTY SMALLCAP 50 6,686.50 -4.27 Share Market Today LIVE: Most Sensex stocks succumb to negative zone
Barring ITC along with a few other stocks including ICICI Bank, Bajaj Finance and Infosys, all of the stocks in the 30-scrip basket have turned red.
Image: BSEIndia.com
Bajaj Auto stock slides on last day of automaker's buyback offer
Bajaj Auto slipped in morning deals on BSE on Wednesday (March 13, 2024) on the last day of its buyback offer worth Rs 4,000 crore.
The stock of the automaker was trading down by 0.36 per cent, or Rs 31.95, at Rs 8495.10.
The stock closed the trading session at Rs 8527.05 on Tuesday to start its journey on Wednesday at Rs 8515.45.
Share Market Today LIVE: Sensex tanks over 1,000 pts from day's high
The Sensex plunges as much as 1,008.3 points from its intraday high of 74,052.8 to hit 73,044.4 on the downside.
Image: BSEIndia.com
Share Market Today LIVE: RIL, Power Grid, NTPC, Bharti Airtel pull Sensex lower
Image: BSEIndia.com
Signatureglobal (India) slides over 7% after real estate firm launches affordable housing project in Gurugram
Signatureglobal (India) Ltd slid over seven per cent in morning deals on BSE on Wednesday despite the real estate company launching an affordable housing project in Gurugram.
The stock of the real estate firm was trading lower by 6.83 per cent, or Rs 92.50, at Rs 1261.60 at 11:01 am on Wednesday.
Share Market Today LIVE | Nifty slides below 22,200, Sensex falls over 400 pts amid broad-based weakness
Traders' Diary: Buy, sell or hold strategy on TCS, ITC, DLF, IEX, Bharti Airtel, over a dozen other stocks today
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track on Wednesday, March 13, 2024. Check out the complete list of stocks on analysts Kushal Gupta and Ashish Chaturvedi's radar.
Here's the complete list of investment and trading ideas for the day:
Kushal Gupta
- Buy KPR Mills shares in the cash segment for a target price of Rs 810 with a stop loss at Rs 778
- Sell Jubilant FoodWorks futures for a target of Rs 430 with a stop loss at Rs 453
- Buy the Rs 4,200 call option of Tata Consultancy Services at Rs 93 for a target of Rs 130 with a stop loss at Rs 70
- Technical pick: Sell DLF futures for a target price of Rs 845 with a stop loss at Rs 878
- Fundamental pick: Buy UltraTech Cement shares for a target of Rs 11,200 with a perspective of 12 months
- Investment idea: Buy Varun Beverages shares for a one-year target of Rs 1,720
- News-based pick: Buy Blue Star for a target of Rs 1,340 with a stop loss at Rs 1,290. Read more
Share Market Today LIVE | Buy, Sell or Hold ITC shares? Here's what leading brokerages suggest
Morgan Stanley has maintained an overweight call on the cigarettes-to-hotels conglomerate with a target price of Rs 491. The revised target translates to an upside of 19.9 per cent from the previous close. The brokerage believes BAT’s stake sale will clear the uncertainty around the stock, and they expect its outperformance to resume after the stake sale.
Morgan Stanley remains bullish on ITC based on the expectations of a moderate cigarette tax environment, continued scale-up of non-cigarette businesses, and reasonable valuations. Read more
ITC shares: What does Anil Singhvi suggest?
Should you buy ITC shares today?
In conversation with Zee Business Managing Editor Anil Singhvi, market expert Rakesh Bansal of Rakesh Bansal Ventures recommended buying ITC shares for targets of Rs 465 and Rs 470 with a stop loss of Rs 390 for the day in the special segment, 'Pick of the Day.'
Vodafone Idea slips 3% after telecom firm secures $1 billion equity commitment from investors
Vodafone Idea shares decline after the telecom company reportedly secured an equity commitment of $1 billion (around Rs 8,300 crore) from investors. The stock of the firm is trading lower by 2.49 per cent, or Rs 0.34, at Rs 13.34 on BSE.
Vodafone Idea's $1 billion equity commitment
Vodafone received a "soft commitment" from investors, which also includes funds committed from promoters as well, as per reports on Tuesday. The telecom company wants to use the funds to pay vendors and meeting 4G and 5G capital expenditures. Read more
Share Market Today LIVE | BSE likely to climb another 40%; Jefferies sees NSE's move as not affecting the country's oldest exchange
BSE stock in Wednesday's session recoupes the previous day's losses. The stock slipped on Tuesday after its rival NSE announced a cut in transaction charges by 1 per cent in the cash and derivatives market. The recovery in the BSE stock may partly be attributed to Jefferies retaining a ‘buy’ call on the stock with a target of Rs 3,000, a good upside of 40 per cent from the current levels.
The brokerage on the NSE’s transaction cut sees a 1.3 per cent earnings impact on 9MFY24 on an annualised basis. Further, it views this transaction charge measure as part of a periodic exercise and smaller this time in comparison to FY17 and FY23, signifying a limited appetite to engage in price wars.
Additionally, the brokerage expects the country’s oldest exchange’s product pricing and plans for monetisation of new products to be unaffected by this measure by the rival. Read more
JG Chemicals IPO Listing Updates | Shares list at 5.43% discount - Buy, Sell or Hold?
Shares zinc oxide manufacturer JG Chemicals list at Rs 211 on the BSE, a discount of 4.52 per cent to the issue price of Rs 221. Meanwhile, the stock opens at Rs 209 on the NSE, a discount of 5.43 per cent to the issue price of Rs 221. Read more
Share Market Today LIVE | Nifty Bank trades over 50 pts higher
Source: NSE
Stocks to Buy or Sell | Bharti Airtel, LTIMindtree, Hindustan Copper among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Vishvesh Chauhan, Ambareesh Baliga, Rakesh Bansal, Kunal Saraogi and Sumeet Bagadia share their top stock recommendations in this special segment, Pick of the Day.
On the top analysts' 'buy' and 'sell' list are stocks such as Tata Consultancy Services (TCS), Tata Elxsi ITC, LTIMindtree and Hindustan Copper. Read more
Currency Update | Rupee falls 5 paise to 82.85 against US dollar in early trade
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support emerging at 22,200-22,275 and a strong buy zone at 22,025-22,125 levels for the headline Nifty50 index on Wednesday, March 13. For the Nifty Bank, he expects support to come in at 46,900-47,025 levels and a strong buy zone at 46,575-46,725 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE | Nifty above 22,400, Sensex up nearly 300 pts
Nifty 50
Source: NSESensex
Source: BSE
Share Market Today LIVE | ITC shares on investors' radar today; check what leading brokerages suggest
ITC shares will continue to hog the limelight on Wednesday, March 13, as the latest reports suggest British American Tobacco (BAT) will sell a 3.5 per cent stake in the Kolkata-headquartered diversified conglomerate via a block deal.
ITC BAT stake sale price
The price band for the deal is Rs 384–400.25 per share. ITC is expected to garner nearly Rs 16,775 crore through the said block deal.
ITC BAT shareholding
After the stake sale, BAT would still be holding 25.5 per cent of ITC.Read more
Image: Reuters Stocks to Watch | Pharma stocks, ITC, Paytm, Bajaj Auto, other stocks
Paytm: As per Reuters, the National Payments Corp of India (NPCI) is likely to approve a third-party application provider licence for Paytm, formally known as One97 Communications, by March 15.
Aurobindo Pharma: Eugia Pharma Specialities Ltd, a subsidiary of the company, started the distribution of aseptic products manufactured at Unit III, which was temporarily stopped.
The operations will start in a phased manner beginning next week and re-start all the lines by April 15, 2024.
Muthoot Capital: Greaves Finance Limited, a subsidiary of Greaves Cotton, through its 100 per cent EV-focused lending platform evfin, announced a partnership with the company.
The collaboration entails a total deal size of up to Rs 150 crore (USD 18 million) to drive widespread adoption of electric vehicles in India.
Allcargo Logistics: The company released its operational update for February.
ITC: The largest shareholder in the company, BAT, will offload a 3.5 per cent stake in the entity via a bulk deal. After the deal, BAT will still hold a big stake in the firm.
Pharma stocks: The centre has issued the strict UCPMP, or uniform code for Pharmaceutical Marketing Practices, for pharma companies. This is the new marketing code as per which pharma companies cannot offer gifts to doctors, and neither free samples nor free samples will go unaccounted for. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a flat start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are up 6.45 points or 0.03 per cent at 22,453.5 ahead of the opening bell on Dalal Street.
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