Share Market HIGHLIGHTS: Sensex, Nifty drop 1% dragged by IT, FMCG, energy shares
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex finished lower amid a broad-based sell-off on Tuesday, tracking mixed moves across global markets ahead of a key interest rate decision in the US. Catch all the highlights of the March 19 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.coms blog.
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex finished about one per cent lower each amid a market-wide sell-off on Tuesday, amid mixed signals from global markets as investors awaited a key US inflation reading due this week for cues.
Catch all the highlights of the March 19 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: Sensex tumbles 736 pts, Nifty gives up 21,850; all sectors in the red
Both headline indices finish the day around one per cent lower amid a broad-based sell-off on Dalal Street.
The Sensex sheds 736.4 points to end at 72,012.1 and the Nifty50 settles at 21,817.5, down 238.3 points from its previous close.
Nifty50
Sensex
Images: NSEIndia.com, BSEIndia.com
Nykaa has huge lead, edge; to actively defend its turf: Founder Falguni Nayar
Fashion and beauty retailer Nykaa hopes to actively defend its turf amid competition from Indian conglomerates and new players, as it stacks up strongly with a huge lead and advantage of brand play, customer base and business insights, founder and CEO Falguni Nayar has said.
Asian Paints, Berger Paints shares under pressure as Birla Opus price list indicates discounts to industry rates
Most paint stocks faced selling pressure on Tuesday after Aditya Birla group company Grasim released the price list of its newly launched paint brand Birla Opus. At noon, Asian Paints, Berger Paints, Kansai Nerolac, Akzo Nobel and Indigo Paints traded between 0.1 per cent 2.4 per cent lower.
Analysts said the Birla Opus prices showed discounts to industry rates, leading to caution among investors in the paint segment.
HDFC Bank trades flat after senior management exit; Macquarie sees room for 44% potential upside
HDFC Bank traded flat in Tuesday's session (March 19) after the senior management personnel- Arvind Kapil, Group Head Retail Assets - Home Loans, HDFC Bank tendered his resignation, to pursue an alternative opportunity.
The release by the lender stated that we wish to inform you that Mr. Arvind Kapil, Group Head Retail Assets - Home Loans, HDFC BankLimited (“Bank”), who is an employee within the category of Senior Management of the Bank, has, on March 18, 2024, formally expressed his intention to resign, to pursue alternative opportunity, and the same has been accepted by the Bank.
H.G. Infra soars over 5% after its consortium gets 4 orders from Jodhpur Vidyut Vitran Nigam
H.G. Infra Engineering soared over five per cent in morning deals on BSE on Tuesday (March 19, 2024) after its consortium Stockwell Solar Services JV received four letters of awards (LOAs) worth Rs 1026 crore from Jodhpur Vidyut Vitran Nigam.
The stock that closed at Rs 893.45 on Monday began its journey at Rs 941.95 on Tuesday, which was a 5.43 per cent rise from the previous close.
332.50% dividend in FY23: This gas PSU stock gets 'Buy' call - Check target price
Natural gas distribution company Gujarat Gas Limited has announced that its board of directors will meet on May 6 to consider dividends for the financial year 2023-24. The company will also consider and approve the standalone and consolidated audited financial results for the quarter and financial year ended on March 31, 2024.
Share Market Today Live: CLSA starts coverage on Tata Consumer Products
CLSA today starts coverage on Tata Consumer Products with an 'underperform' rating.
The brokerage gives a target of Rs 1288, which is only nine per cent upside from the current price.
CLSA says that the upside in the stock is limited from expensive valuations.
The stock is currently trading at 50X FY26CL EPS against the industry PE of 45X.
CLSA says that the long-term growth opportunity is already in price.
Aditya Birla Sunlife AMC, Aditya Birla Capital in green as promoters set to sell up to 11.50% stake
Aditya Birla Sunlife AMC and Aditya Birla Capital are trading in green after the sellers propose to sell up to 2,01,66,293 equity shares of the AMC company on Tuesday (March 19, 2024).
While Aditya Birla Sunlife AMC shares were up by 0.43 per cent, or Rs 0.75, at Rs 173.60 each, Aditya Birla Capital Ltd was trading higher by 0.58 per cent, or Rs 1.00, at Rs 173.58 at 9:47 am on Tuesday.
Precious metals trade in green; yellow metal above Rs 65,650; white metal above Rs 76,600
Domestic precious metal futures on Monday traded in the positive territory ahead of rate decisions from countries representing almost half the global economy, including the US, the UK, and Japan.
Last seen, MCX gold futures (Apr 5) were flat with a positive bias at Rs 65,668 per 10 grams at the last count, having traded between Rs 65,609 and Rs 65,687 earlier in the day. MCX Silver futures (May 5) were up Rs 118 or 0.16 per cent at Rs 76,615 per kg.
Share Market Today LIVE | Nifty Bank trades nearly 200 pts off day's high
Source: NSE
Traders' Diary | Buy, sell or hold strategy on TCS, Asian Paints, Apollo Tyres, IOCL, HPCL, 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 Tuesday, March 19. Check out the complete list of stocks on analysts Kushal Gupta and Varun Dubey's radar.
Here's the complete list of investment and trading ideas for the day:
Kushal Gupta
- Buy HG Infra Engineering shares in the cash segment for a target price of Rs 922 with a stop loss at Rs 881
- Sell Indian Oil Corporation (IOC) futures for a target of Rs 155 with a stop loss at Rs 165
- Buy the Rs 460 put option of Apollo Tyres at Rs 10 for a target of Rs 18 with a stop loss at Rs 6
- Technical pick: Sell Indian Hotels Company Ltd (IHCL) futures for a target price of Rs 540 with a stop loss at Rs 562
- Fundamental pick: Buy ICICI Lombard shares for a one-year target of Rs 2,000
- Investment idea: Buy Cummins India shares for a one-year target of Rs 3,200
- News-based pick: Buy RPP Infra Projects for a target of Rs 108 with a stop loss at Rs 102. Read more
Share Market Today LIVE | Should you buy Tata Steel, HDFC Bank, Coforge, Pidilite, Page Industries, other stocks today? Here is what brokerages recommend
As Dalal Street has entered the March 19 session, brokerages have dozens of stocks on their radar. Here's what Macquarie, Jefferies, Nomura, Morgan Stanley, and Citi make of stocks such as Tata Steel, HDFC Bank, Coforge, Pidilite Industries, and Page Industries:
HDFC Bank share price target
Jefferies has maintained a 'buy' call on the HDFC Bank stock with a target price of Rs 1,800.
Nomura has maintained a 'neutral' rating on HDFC Bank shares with a target of Rs 1,625.
Macquarie has maintained an 'outperform' rating on HDFC Bank with a target of Rs 2,075.
Brokerage on Metals: Tata Steel, Hindalco, Coal India, JSPL
Macquarie has maintained an 'outperform' rating each on Tata Steel, Hindalco Industries, Coal India, and Jindal Steel and Power Ltd (JSPL). Here are the targets for these stocks:
Stock Target Tata Steel Rs 162 Hindalo Industries Rs 597 Coal India Rs 465 JSPL Rs 860 AU Bank share price target
Morgan Stanley has maintained an 'overweight' rating on the AU Small Finance Bank with a target of Rs 850.
Coforge share price target
Macquarie has maintained an 'outperform' rating on the Coforge stock with a target of Rs 6,410.
Eclerx Services share price target
Nomura has a 'buy' call on the Eclerx Services stock with a target of Rs 3,000.Read more
Share Market Today LIVE: Barring five stocks, all Sensex components in the red; Nestle India worst hit, down over 3%
Image: BSEIndia.com
Share Market Today LIVE: TCS, Reliance, L&T, Infosys, ITC weigh on indices
Take a look at the top contributors to the fall in both Sensex and Nifty50 at this hour:
Nifty50
Sensex
Images: Niftyindices.com, BSEIndia.com
Share Market Today LIVE | Nifty slides below 21,900, Sensex falls over 550 pts; TCS, BPCL among top blue-chip losers
Popular Vehicles & Services IPO Listing LIVE | Muted debut! Shares list at 1% discount
Popular Vehicles & Services shares settled at Rs 292 on the NSE, a discount of 1.01 per cent to the issue price of Rs 295. Zee Business Managing Editor Anil Singhvi said that short-term investors must keep a stoploss of Rs 290. The Kerala-based automobile dealer had a price range of Rs 280-295 for its Rs 602-crore initial share sale. Read more
Stocks to Buy | Maruti Suzuki, ONGC, BEL, PNB, Dr Reddy's Labs among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Rakesh Bansal, Arpit Beriwal, Sumeet Bagadia, Avinash Gorakssakar and Vikas Sethi share their top stock recommendations in this special segment, Pick of the Day.
On the top analysts' 'buy' list are stocks such as Maruti Suzuki India, Dr Reddys Laboratories, Aditya Birla Capital, HG Infra Engineering, Punjab National Bank (PNB), Oil and Natural Gas Corporation (ONGC), Bharat Electronics Ltd (BEL), SRF and CIE Automotive India. Read more
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support emerging at 21,850-21,925 levels and a strong buy zone at 21,725-21,825 levels for the headline Nifty50 index on Tuesday, March 19. For the Nifty Bank, he expects support to come in at 46,050-46,325 and a strong buy zone at 45,675-45,975 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE | TCS shares in focus as Tata Sons may sell Rs 9,362-crore stake
Tata Consultancy Services (TCS) shares were in focus on Tuesday, March 19, after news agency Reuters reported, citing a term sheet seen by it, that Tata Sons, the holding company of India's largest software services exporter, was offering to sell TCS shares worth up to Rs 9,362 crore. Tata Sons is looking to offload 2.34 crore shares in the country's no.1 IT services company, representing 0.65 per cent of TCS' shareholding, according to Reuters. Read more
Currency Update | Rupee down 4 paise at 82.94 against US dollar in opening trade
Share Market Today LIVE | Nifty slides below 21,950, Sensex falls nearly 350 pts
Nifty 50
Source: NSESensex
Source: BSE
Stocks to Watch | Aditya Birla Capital, TCS, HCL Infosystems, other stocks
Here are some stocks that will be in focus on Tuesday, March 19:
TCS: Promoter Tata Sons are set to sell 0.64 per cent equity in Tata Consultancy Services on Tuesday.
HCL Infosystems: The company received two final arbitration awards of around Rs. 31 crore in arbitrations filed against one of the State Electricity Boards. Monetary reliefs in favour of the company as per the awards for the principal amount, interest, and litigation cost is Rs. 31.08 crore, as per the company.
Aditya Birla Capital: AB Capital will sell a 4.99 per cent stake in Aditya Birla Sun Life AMC via an offer for sale (OFS) to meet minimum public shareholding norms.
HG Infra Engineering: Letters of award were issued by Jodhpur Vidyut Vitran Nigam Limited to Stockwell Solar Services Private Limited JV Consortium with H.G. Infra Engineering Limited for four projects of solar business.
RPP Infraprojects: State Industries Promotion Corporation of Tamilnadu awarded the company with multiple orders worth Rs 94.13 crore.
Tata Steel: Tata Steel will wind up the operations of coke oven unit in the UK. Further, the unit will increase the import of coke. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a lower start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 78.95 points or 0.36 per cent at 22,056.5 ahead of the opening bell on Dalal Street.
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