Stock Market HIGHLIGHTS: Sensex ends 502 pts lower, Nifty gives up 17,350 as bears take charge back from bulls after a day's gap

Sensex ends 502 pts lower, Nifty below 17,350; market resumes fall after a day's breather

The Sensex ends 501.7 points or 0.8 per cent lower at 58,909.4 and the Nifty50 settles at 17,321.9, down 129 points or 0.7 per cent from its previous close. 

Here's how the headline indices moved through the day: 

Sensex

Nifty50

Read more on the March 2 session

Lodha, RVNL, Angel One, NBCC, Quess Corp rise most among some 200 gainers in BSE 500 universe

Triveni Turbine, Rajesh Exports, Yes Bank, Zensar and Finolex Cables are the top laggards in the broadest index on the bourse.

Editor's Take | Anil Singhvi says subscribe to Divgi TorqTransfer Systems IPO for long term

Zee Business Managing Editor Anil Singhvi recommends subscribing to the Divgi TorqTransfer Systems IPO for the long term.

He, however, suggests investors to subscribe in small quantities and add if the listing takes place below the issue price.

Read more on what Anil Singhvi makes of the Divgi TorqTransfer Systems IPO

IPO LIVE | Divgi TorqTransfer Systems issue subscribed 23% so far on Day 2

As of 2:15 pm, the IPO received bids for 8.9 lakh shares as against the 38.4 lakh shares on offer, according to provisional exchange data. 

Bajaj Finserv struggles near flatline after initial spike; firm gets Sebi nod to start mutual fund operations 

Pune-based financial services company Bajaj Finserv will operate the mutual fund business under the Bajaj Finserv Mutual Fund banner. With Bajaj Finserv Asset Management as the investment manager, Bajaj Finserv MF will soon offer a range of mutual fund products including equity, debt, and hybrid funds, both in active and passive segments, according to a company statement.

The approval from Sebi is strategically important for the company as it enables the firm to complete its suite of financial solutions for retail customers, said Sanjiv Bajaj, Chairman and Managing Director, Bajaj Finserv.

Tripura Election Results 2023 | BJP crosses halfway mark, surpasses Left-Congress, Tipra Motha 

Celebrations begin in Tripura as BJP candidates surge ahead of the opposition, leading in more than half the 60 seats of the assembly. Catch LIVE updates on Tripura election results

Access live coverage on election results for Meghalaya and Nagaland, as well as key constituencies such as Erode, Pune, Sagardighi and Chinchwad:

• Meghalaya
• Nagaland
• Lumla (Arunachal Pradesh)
• Pune and Chinchwad (Maharashtra)
• Sagardighi (West Bengal)
• Erode (Tamil Nadu)

Stock Market Tips LIVE | Vikas Salunkhe recommends buying IEX, Sonacoms shares

Vikas Salunkhe of Nirmal Bang Securities has two recommendations today: 

• Buy IEX for a target of Rs 160 with a stop loss at Rs 142
• Buy Sona Blw Precision Forgings for a target of Rs 490 with a stop loss at Rs 452

Indian Oil gets new executive director for eastern regional office 

State-run oil marketing company Indian Oil Corp (IOC) announces the appointment of KV Ramanamurthy as executive director of its eastern regional office.

Ramanamurthy has experience of more than three decades in various domains of the PSU, according to a company statement.

Indian Oil holds on firmly to the green on D-Street, with a gain of more than one per cent at Rs 77.8 apiece. 

Gold Rate Today | MCX gold futures stuck in Rs 55,750-55,800 range

MCX gold futures (due for expiry on April 5) quote at Rs 55,810 per 10 grams at this hour, weaker by Rs 20 from their previous close. Earlier in the day, the gold futures contract came down to as low as Rs 55,751 per 10 grams. 

Benchmark US gold futures quoted at $1,837 per ounce, weaker by $8.5 or 0.5 per cent for the day.

Gold is left with a gain of about two per cent for the year so far. 

Nifty Tips LIVE | Sell Nifty50 futures, targets 17,350, 17,300, recommends Arpit Beriwal 

Arpit Beriwal of Motilal Oswal Financial Services shares a Nifty futures idea with Zee Business viewers.

He suggests selling Nifty futures at 17,500 with a stop loss at 17,600 for targets of 17,350 and 17,300. 

The headline index has largely stayed within the 17,350-17,450 band so far today.

Nifty Bank Tips LIVE | Buy Nifty Bank futures, targets 41,000, 41,250, says Arpit Beriwal 

Arpit Beriwal of Motilal Oswal Financial Services recommends buying Nifty Bank futures at 40,750 for targets of 41,000 and 41,250 with a stop loss at 40,500. 

Nifty Bank Tips LIVE | Buy Nifty Bank 40,600 call option at Rs 60, recommends Mehul Kothari  

Mehul Kothari of Anand Rathi Shares & Stock Brokers shares a Nifty Bank recommendation for traders only on Zee Business.

Kothari suggests buying the 40,600 call option of the banking index at Rs 60 for targets of Rs 100 and Rs 150 with a stop loss at Rs 20. 

This makes it an at-the-money call option, as the Nifty Bank trades with a cut of 111.1 points or 0.3 per cent for the day at 40,587.1, having broadly moved within the 40,500-40,800 band in intraday trade so far. 

Share Market Tips Today | Sneha Seth positive on IndiGo, ICICI Bank 

Sneha Seth of Angel One recommends: 

• Buying the Rs 1,900 call option of IndiGo for a target price of Rs 84 with a stop loss at Rs 24 
• Buying the Rs 860 call option of ICICI Bank for a target of Rs 34.5 with a stop loss at Rs 7.75 

Share Market Tips LIVE | Buy IEX, Hindustan Petroleum, says Sameet Chavan 

Angel One's Sameet Chavan shares two stock recommendations with Zee Business viewers:

• Buy the Rs 147.5 call option of IEX for a target of Rs 9.5 with a stop loss at Rs 3.1  
• Buy the Rs 220 call option of Hindustan Petroleum for a target of Rs 12 with a stop loss at Rs 3.5

Nifty Bank Tips LIVE | Sameet Chavan recommends buying Nifty Bank 40,600 call option, target Rs 230   

Sameet Chavan of Angel One suggests buying the 40,600 call option of Nifty Bank for a target of Rs 230 with a stop loss at Rs 18.