Sensex live today: Index jumps 250 points, Tata Steel, IndusInd Bank top gainers
Sensex live today: The benchmark indices snapped four-session long losing streak on Tuesday, tracking positive trend in Asian markets, which regained some ground after US President Donald Trump faced growing pressure from political allies to pull back from proposed steel and aluminum tariffs, easing investor worries about an imminent trade war. The Sensex tested its crucial 34,000 mark, while the broader Nifty50 also reclaimed its key 10,400 level. At 9:20 am, the Sensex was trading at 33,962, up 212 points, while the broader Nifty50 was ruling at 10,423, up 64.90 points.
In the broader market, the BSE Midcap and the BSE Smallcap indices outperformed to rally 0.9 per cent and 0.8 per cent, respectively. Market breadth, indicating the overall health of the market turned positive. On the BSE, 1,078 stocks rallied, 226 stocks declined, while 38 stocks remained unchanged.
On Monday, Sensex dropped by 300 points to close at a two-week low, extending its fall for the fourth straight session as metal, banking, oil and gas and auto stocks slumped after the US president fuelled fears of a global trade war. The index settled at 33,746.78 down 300.16 points, or 0.88 per cent. The gauge had lost 398.81 in the previous three sessions. This was the lowest closing since February 20 when it had finished at 33,703.59.
The broader Nifty50 too cracked below the 10,400-mark and hit a low of 10,323.90 before finishing 99.50 points, or 0.95 per cent down at 10,358.85.
Sensex live today: The benchmark indices snapped four-session long losing streak on Tuesday, tracking positive trend in Asian markets, which regained some ground after US President Donald Trump faced growing pressure from political allies to pull back from proposed steel and aluminum tariffs, easing investor worries about an imminent trade war. The Sensex tested its crucial 34,000 mark, while the broader Nifty50 also reclaimed its key 10,400 level. At 9:20 am, the Sensex was trading at 33,962, up 212 points, while the broader Nifty50 was ruling at 10,423, up 64.90 points.
In the broader market, the BSE Midcap and the BSE Smallcap indices outperformed to rally 0.9 per cent and 0.8 per cent, respectively. Market breadth, indicating the overall health of the market turned positive. On the BSE, 1,078 stocks rallied, 226 stocks declined, while 38 stocks remained unchanged.
On Monday, Sensex dropped by 300 points to close at a two-week low, extending its fall for the fourth straight session as metal, banking, oil and gas and auto stocks slumped after the US president fuelled fears of a global trade war. The index settled at 33,746.78 down 300.16 points, or 0.88 per cent. The gauge had lost 398.81 in the previous three sessions. This was the lowest closing since February 20 when it had finished at 33,703.59.
The broader Nifty50 too cracked below the 10,400-mark and hit a low of 10,323.90 before finishing 99.50 points, or 0.95 per cent down at 10,358.85.
Latest Updates
Nifty outlook by Angel Broking
It would be a prudent ploy to revise the support level a bit for Nifty in order to trigger some momentum in the immediate future. Now, 10300 would be seen as crucial support and breach below this important junction would extend this corrective move towards the ‘200-day SMA’ placed around 10140. Having said that, if we have to pre-empt any direction, we would give more weightage to the way Bank Nifty is shaped up. We will not be surprised to see some bounce back in the market; courtesy to the heavyweight banking basket. We reiterate that within this consolidation, one should ideally remain light on index and focus more on individual stocks.
Nifty Metal top index gainer
Nifty Metal index (up 2 per cent) recovered Monday's losses and was the leading gainer among NSE indices. Jindal Steel (up 4 per cent), Vedanta (up 3.3 per cent) and JSW Steel (up 2.8 per cent) contributed most to the gains.
Top gainers/losers
Tata Steel (up 2.5 per cent), IndusInd Bank (up 2.4 per cent) and YES Bank (up 1.8 per cent) were the top gainers, while Mahindra&Mahindra (down 0.5 per cent), Power Grid (down 0.4 per cent) and TCS (down 0.2 per cent) shed the most.
Markets at open
At 9:18 am, the Sensex was trading at 33,994, up 248.10 points, while the broader Nifty50 was ruling at 10,433, up 74.25 points.
Stocks in news
- Reliance Industries: Unit Jio’s TV App Wins Rights for T20 Cricket Tournament
- Wanbury: Says US FDA completed inspection at API facility; issues 5 observation on API facility
- RCom : Arbitration court bars RCom from selling assets
- Sun Pharma: The three observations issued by USFDA to Halol plant seem to be minor in nature
Rupee at open
Rupee appreciated by 17 paise to 64.95 versus dollar against its Monday’s close of 65.12 per dollar.
Pre-open trade
The Sensex was trading nearly 250 points higher, reclaiming its crucial 34,000 level, while the broader Nifty50 was up 60 points, regaining its key 10,400 level in pre-open trade.
Wall Street closes higher
U.S. stocks rallied on Monday as fears of a global trade war ebbed with investors betting that U.S. President Donald Trump would back down on his threat to impose hefty tariffs on steel and aluminum imports. Strategists also cited rising oil prices and ebbing concerns after an Italian election for a relief rally in the three major U.S. equity indexes.
The Dow Jones Industrial Average rose 336.7 points, or 1.37 percent, to 24,874.76, the S&P 500 gained 29.69 points, or 1.10 percent, to 2,720.94 and the Nasdaq Composite added 72.84 points, or 1 percent, to 7,330.71.
Asian markets regain some ground as trade war fears moderate
Asian markets were trading higher. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5 percent while Japan’s Nikkei jumped 2.0 percent, a day after it hit a five-month low. MSCI’s broadest gauge of the world’s stock markets snapped four-day losing streak on Monday by notching up 0.67 percent. It added 0.16 percent in Asia on Tuesday.
Markets on Monday
Indian equities extended their fall for the fourth straight session today, with the BSE Sensex plunging by over 300 points and the NSE Nifty by nearly 100 points after fears of a global trade war rattled investors. The benchmark Sensex slipped to a near two-week low of 33,747 as market participants weighed the likely impact of US President Donald Trump's plans to levy stiff tariffs on steel and aluminium imports, triggering a free fall in metal stocks. Asian bourses too succumbed to the pressure emanating from the US tariff plans on steel and aluminium imports.
Investors' sentiment was further dampened after a monthly survey showed India's services sector growth contracted in February and fell to a six-month low, as new work orders suffered amid weak underlying demand conditions.
Good Morning!
Welcome to Zee Business market liveblog.