Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading in negative territory on Tuesday. BSE Sensex was hovering around 52,650, while NSE Nifty 50 gave up 15,800 level. Power Grid Corporation of India, NTPC, Tech Mahindra, ITC, Bajaj Finance, Sun Pharma, Bharti Airtel, Tata Consultancy Services (TCS) were among top Sensex gainers. Maruti Suzuki, HDFC Bank, Asian Paints, Reliance Industries Ltd (RIL), ICICI Bank, HDFC top index laggards. Nifty sectoral indices were trading mixed. Bank Nifty was down 0.6 per cent to 32,670, Nifty Auto fell 0.5 per cent, while Nifty Nifty IT gained 1.12 per cent and Nifty FMCG added half a per cent.
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Sensex and Nifty were struggling to shrug off the bearish sentiment on Dalal Street. Sensex was down more than 200 points while the NSE Nifty 50 was just below 15,800.
Gold and Silver prices retreated yesterday, a hope of ease over the Russia and Ukraine war. However, global uncertainty is still there due to which prices of some industrial commodities have exploded. And it will support the precious metals. Gold has support at 52500 and resistance at 54050. Nirpendra Yadav, Senior Commodity Research Analyst, Swastika Investmart
Globally, the sentiments continue to be fragile as equities, bonds, currencies bear the losses. Investors are watching US senate vote on the legislation seeking to ban the imports of Russian energy. It is expected that the move will create huge supply demand mismatch in the oil markets and will further push oil prices higher. On the other side, the third round of talks held between Russia and Ukraine-held in Belarus has failed to remove any deadlock between the two showing that the tensions will continue for some time more. Amit Pabari, Managing Director, CR Forex Advisors
“15900-16200 is a resistance patch for the index. Until then the trend remains bearish and any rally up or knee jerk reaction can be used to short the Nifty for lower targets. If we are unable to sustain above 16200, the market can fall to 15300,” said
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
The Indian rupee depreciated 1.05% to hit its lowest level against the US dollar on Monday amid soaring oil prices and continued outflows of foreign portfolio money on last trading session. The local unit is expected to depreciate further on Tuesday due to stronger dollar and higher crude oil prices. Further, pessimistic sentiments in the global markets may hurt the rupee. Additionally, consistent FII withdrawal from domestic markets will continue to put pressure on the rupee. US$INR (March) is expected to rise further towards 77.50 for the day, according to ICICI Direct. Read full story
The heightened volatility in the market continues. Nasdaq is now 20 % down from the peak indicating that it has entered bear market territory. Nifty is down 15% from the peak. All commodities have surged indicating imminent higher inflation. Even though the market is now oversold, sentiments are negative. The positive development from the market perspective is the exit poll projection of BJP doing well in UP. Declining bond yields in the US and the possibility of lower-than-feared rate hikes by the Fed are reliefs from the market perspective. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Maruti Suzuki, HDFC Bank, Asian Paints, Reliance Industries Ltd (RIL), ICICI Bank, HDFC top index laggards.
Power Grid Corporation of India, NTPC, Tech Mahindra, ITC, Bajaj Finance, Sun Pharma, Bharti Airtel, Tata Consultancy Services (TCS) were among top Sensex gainers
BSE Sensex fell 183 points to trade at 52,660, while NSE Nifty 50 was down 65 points to rule at 15,797 on Tuesday
BSE Sensex fell 300 points to trade at 52,533, while NSE Nifty 50 was down 176 points to rule at 15,687 in pre-opening session
Petrol and diesel prices were left untouched on March 8 by oil marketing companies (OMC) even as crude oil prices soared on the back of supply-demand imbalance. Petrol in the National Capital of Delhi currently retails at Rs 95.41 per litre while diesel in the city is priced at Rs 86.67 per litre. In Mumbai, a litre of petrol and diesel cost Rs 109.98 and Rs 91.09, respectively. Fuel prices have been stable since the central government cut excise duty to bring down retail rates from record highs in November last year. Read full story
Indian equity market on Monday continued its downwards journey in line with global peers amid escalating Russia-Ukraine conflict. Both benchmark indices Sensex and Nifty 50 are now down around 15% from all-time highs. The decline in the index has brought trading levels last seen in June 21. Read full story
Sensex and Nifty extended their losses on Monday as the benchmark indices tanked nearly 2.5% each. S&P BSE Sensex is now placed at 52,842, down nearly 10,000 points from its all-time high while the NSE Nifty 50 is placed at 15,863. Bank Nifty is currently at 32,871. Ahead of Tuesday’s trade, SGX Nifty was trading in the red, suggesting another gap-down opening for Dalal Street. Global cues were also weak as indices moved south owing to rising crude oil prices that fanned inflation concerns and raised questions about the economic expansion. Read full story
Markets are rattled with a sharp surge in crude amid the fear of further sanctions on Russia. Besides, there’s no sign of de-escalation of tension between the two nations. In short, we expect volatility to remain high and suggest keeping a close watch on global markets for cues. On the domestic front, state elections exit polls and actual results on March 10 would be actively tracked. Ajit Mishra, VP – Research, Religare Broking
The fear theme at Dalal Street is getting profound and palpable on backdrop of ‘stagflation’. The street will keenly watch on how RBI tackles with a backdrop of higher oil and commodity prices, and most importantly, growth-supporting fiscal policies. Technically speaking, Nifty’s biggest supports are placed at 15711 mark. Below Nifty 15711 zone, expect waterfall of selling which could take Nifty down to 14251 mark with inter-month perspective. From a chartist standpoint, the technical landscape will improve considerably only if Nifty closes above 16557 mark. Prashanth Tapse, Vice President (Research), Mehta Equities
The short term trend of Nifty continues to be weak. The last hour upside recovery of Monday could bring some hopes of pullback rally in the short term. A sustainable upside bounce is expected from there or from the lows of 15700-15500 levels in the next few sessions. Nagaraj Shetti, Technical Research Analyst, HDFC Securities
Market has remained weak as Nifty corrected heavily during the session. On the lower end, the benchmark Nifty has fallen towards the lower band of the falling channel; therefore, Nifty may witness a recovery in the near term. On the lower end support is seen at 15500 below which further correction may be seen. On the higher end, resistance is seen at 16200. Rupak De, Senior Technical Analyst at LKP Securities
Nifty is now close to the supports of 15700-15900. It has seen buying support from this band twice during the day. However, advance decline ratio remains down at 450:1873. The state assembly elections exit polls result expected in the evening could bring an end to one uncertainty faced by the markets. Unless the outcome is severely against the BJP, we think that the markets could bounce up in the next few sessions not getting too perturbed by the developments in Europe. Deepak Jasani, Head of Retail Research, HDFC Securities
Paint stocks witnessed sharp correction in the market as rich valuation and significant rise in oil prices continued to drag the investor’s sentiment. TIO2, a derivative of crude oil is the key input in the manufacturing of paints. A surge in price will increase the cost of production and impact the company’s gross margins. Paint Company’s already taken 18% to 20% price hike in 9MFY22 to mitigate the risk of higher input prices. We expect the raw material inflationary trend to continue; albeit the rate of increase is expected to be moderate in Q4, to support the demand. Antu Thomas, Senior Research Analyst, Geojit Financial Services
Rupee continued to remain under pressure and fell to fresh all-time lows following rising uncertainty between Russia and Ukraine and rally in global crude oil prices. Momentum has been towards rupee depreciation for the past few sessions as market participants remain on the edge following geopolitical tensions. This week, on the domestic front, industrial production number will be important to watch and that could trigger volatility for the currency. We expect the USDINR (Spot) to trade with a positive bias and quote in the range of 76.70 and 77.50. Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services
Tata Consultancy Services (TCS) on Monday said its Rs 18,000 crore share buyback offer will open on March 9 and close on March 23. On February 12, the company announced the share buyback programme entailing 4 crore shares at Rs 4,500 apiece. TCS has fixed April 1, 2022 as the last date for settlement of bids on stock exchanges which may even happen earlier, according to a BSE filing. Read full story
Bullion prices continued to strengthen with gold crossing $2,000 per ounce for the first time since August 2020. Silver prices in the domestic markets also surpassed Rs 71,200 on Monday.
From their peak in October, markets have corrected more than 14% amid negative global cues and relentless selling by foreign portfolio investors (FPIs). In the last four trading sessions, FPIs have sold shares worth Rs 26,096.69 crore, provisional data on bourses showed. So far in 2022, the Sensex has declined 12.4% in dollar terms against 3.3% gains clocked by Jakarta Composite. While Shanghai Composite has come off 6.8%, Taiwan TAIEX has fallen 7.7% during the same period. South Korea, which has an oil imports bill similar to that of India, has also plunged 13.7% between January and now. Read full story
The National Stock Exchange on Monday reported yet another technical glitch as prices of several scrips, and two key indexes had stopped updating “intermittently” in the morning deals. Later, the issue was resolved around 11:00 IST on Monday, and the “broadcast resumed normally in all indices,” NSE said in a statement. The glitch came in amid the market slipping over 2% after crude prices hit their highest level since 2008. Read full story
Sensex ended at 52,843, down 1,491 points or 2.74 per cent. The Nifty 50 index settled at 15,863, down 382 points or 2.35 per cent.
Asian stock markets were trading mixed on Tuesday as the Russia-Ukraine war continues to keep investors on edge. Japan’s Nikkei slipped 0.14% while the Topix index shed 0.41%. South Korea’s Kospi dipped 0.33%.
Nifty futures were trading at 15,793, down 50 points or 0.32 per cent on Singaporean Exchange.
Nasdaq ended down 20.1% from its Nov. 19 record high close, confirming the tech-heavy index has been in a bear market since hitting that record high, according to a widely used definition. That marks the Nasdaq’s first bear market since 2020, when the coronavirus outbreak crushed global economies. Read full story