Share Market HIGHLIGHTS: Sensex ends wild day on D-Street 1,273 pts below days high, Nifty50 gives up 17,200
Stock Market LIVE Today: Indian equity benchmarks Sensex and Nifty50 suffered steep losses on Monday mirroring weakness across global financial stocks as the collapse of startup-focused Silicon Valley Bank (SVB) continued to batter investor sentiment. HSBC acquired the UK subsidiary of Silicon Valley Bank for one pound, saying it expects SVB UK tangible equity to be around 1.4 billion pounds.
Stock Market LIVE Today: Indian equity benchmarks Sensex and Nifty50 suffered steep losses on Monday mirroring weakness across global financial stocks as the collapse of startup-focused Silicon Valley Bank (SVB) continued to batter investor sentiment. HSBC acquired the UK subsidiary of Silicon Valley Bank for one pound, saying it expects SVB UK's tangible equity to be around 1.4 billion pounds.
What Zee Business Managing Editor Anil Singhvi makes of the market today
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Share Market Update | Sensex ends volatile day 897 pts lower, loses over 2,100 pts in three days; Nifty50 gives up 17,200
Both headline indices finish the day 1.5 per cent lower.
Here's how the main indices moved through the day:
Sensex
Global Market LIVE | Europe markets plunge dragged by banking shares as Silicon Valley Bank (SVB) market turmoil continues
Bank shares across Europe and Asia plunge as the collapse of startup-focused Silicon Valley Bank continues to batter markets. The pan-European Stoxx index is down 2.3 per cent at this hour, with the banking gauge down 4.3 per cent.
The Stoxx banking index is on track for its biggest two-day fall since Russia began its invasion of Ukraine in February 2022.
HSBC acquires UK subsidiary of Silicon Valley Bank (SVB) for one pound
HSBC says it is acquiring the UK subsidiary of Silicon Valley Bank for one pound. "This acquisition makes excellent strategic sense for our business in the UK," says HSBC CEO Noel Quinn.
The move comes after US authorities moved to shore up deposits and stem any wider fallout from the sudden collapse of its parent, tech start-up lender Silicon Valley Bank.
As of March 10, Silicon Valley Bank UK had loans of around 5.5 billion pounds and deposits of around 6.7 billion pounds, according to HSBC.
SVB UK's tangible equity is expected to be around 1.4 billion pounds, it adds.
Share Market LIVE Today | SCI demerger record date to be fixed next week; stock rises
Shipping Corporation of India (SCI) shares hold on to the green after the company says its board will meet on March 20 to decide a record date for a proposed demerger of its non-core assets.
The stock of the divestment-bound Shipping Corp gain by as much as Rs 7.8 or 6.4 per cent to Rs 129.2 apiece on BSE.
Read more on SCI share price, record date
Share Market LIVE Today | Fear index VIX surges 22.5% to over five-week high
NSE's India VIX index — also known in market parlance as the gauge of fear — jumps as much as 22.5 per cent to 16.4, its highest intraday level recorded since February 2, 2023.
Global Surfaces IPO subscribed 24% so far on Day 1; retail portion bookd 38%
The initial share sale of Global Surfaces, a company engaged in the processing of natural stones and the manufacturing of engineered quartz, sees subscription of 24 per cent so far today — the first day of the bidding process. The company aims to raise up to Rs 155 crore through the IPO.As of 2:25 pm, the Global Surfaces IPO receives bids for 18.5 lakh shares as against the 77.5 lakh shares on offer, according to provisional exchange data.Category Subscription Reservation QIB Nil 50% NII 23% 15% Retail 38% 35% Overall 24% Stock Market Tips LIVE | Nirav Chedda suggests selling Nifty Bank ftures on rise
Nirav Chheda of Nirmal Bang Securities suggests selling Nifty Bank futures on advances for a target of 39,500 with a stop loss at sl 40,450.
Share Market LIVE Today | Buy ONGC, sell Canara Bank futures, says Nirav Chheda
Nirav Chheda of Nirmal Bang Securities shares two recommendations with Zee Business viewers:
- Sell Canara Bank futures for a target of Rs 275 with a stop loss at Rs 306
- Buy ONGC for a target of Rs 170 with a stop loss at Rs 152
Share Market LIVE Today | Buy ONGC, sell Canara Bank futures, says Nirav Chheda
Nirav Chheda of Nirmal Bang Securities shares two recommendations with Zee Business viewers:
- Sell Canara Bank futures for a target of Rs 275 with a stop loss at Rs 306
- Buy ONGC for a target of Rs 170 with a stop loss at Rs 152
Share Market LIVE Today | Buy ONGC, sell Canara Bank futures, says Nirav Chheda
Nirav Chheda of Nirmal Bang Securities shares two recommendations with Zee Business viewers:
- Sell Canara Bank futures for a target of Rs 275 with a stop loss at Rs 306
- Buy ONGC for a target of Rs 170 with a stop loss at Rs 152
Share Market LIVE Today | Buy ONGC, sell Canara Bank futures, says Nirav Chheda
Nirav Chheda of Nirmal Bang Securities shares two recommendations with Zee Business viewers:
- Sell Canara Bank futures for a target of Rs 275 with a stop loss at Rs 306
- Buy ONGC for a target of Rs 170 with a stop loss at Rs 152
Share Market LIVE Today | Buy ONGC, sell Canara Bank futures, says Nirav Chheda
Nirav Chheda of Nirmal Bang Securities shares two recommendations with Zee Business viewers:
- Sell Canara Bank futures for a target of Rs 275 with a stop loss at Rs 306
- Buy ONGC for a target of Rs 170 with a stop loss at Rs 152
Share Market LIVE Today | Nifty Bank cracks below 40,000 for fist time in two weeks
The banking index slides below the psychologically-important 40,000 mark in intraday trade for the first time since February 27.
Index Change (%) INDUSINDBK -6.2 AUBANK -3.8 FEDERALBNK -1.8 SBIN -1.8 BANDHANBNK -1.7 PNB -1.6 IDFCFIRSTB -1.5 AXISBANK -1.4 KOTAKBANK -1 BANKBARODA -0.8 HDFCBANK -0.7 ICICIBANK -0.3 Nifty50 LIVE | 50-scrip headline index slips to two-week low
The Nifty50 falls 155.5 points or 0.9 per cent to 17,257.4 at the weakest level of the day so far — its lowest intraday level recorded since February 28, with maximum pressure from financial stocks.
Share Market LIVE Today | Sensex plunges 900 pts from day's high, Nifty Bank sinks below 40,000 after 2 weeks
The Sensex nosedives to as low as 58,592.5 dragged by worsening selling pressure in financial shares, shedding 918.5 points from the strongest level of the day.
Share Market LIVE Today | YES Bank shares tumble as SBI stake lock-in period ends
YES Bank shares drop by as much as Rs 2.1 or 12.8 per cent to Rs 14.4 apiece on BSE.
Nifty LIVE | Infosys, IndusInd, TCS, M&M, ITC, SBI top drags
On the other hand, strength in stocks such as Tech Mahindra, ICICI Bank and JSW Steel lend the maximum support to the Nifty50 index.
Share Market LIVE Today | Sensex, Nifty50 turn flat as Infosys, IndusInd, ITC, Mahindra & Mahindra weigh on market
Here's a look at the top movers and shakers in the 30-scrip basket:
Sensex LIVE | Tech Mahindra top gainer; Bajaj Finance, ICICI Bank, HDFC Bank among stocks rising most
Tech Mahindra shares soar after company names Mohit Joshi as next CEO after CP Gurnani
Tech Mahindra share jump by as much as Rs 103.4 or 9.7 per cent to Rs 1,164.5 apiece on BSE, after the IT major announces the appointment of Mohit Joshi, a former president at Infosys, as MD and CEO designate. Joshi is set to take charge from CP Gurnani, after Gurnani retires in December this year.
Earlier, Joshi resigned from Infosys, where he was head of the global financial services, healthcare and software businesses.
Share Market LIVE Today | Sensex gains over 350 pts, Nifty50 crosses 17,500 led by financial, IT stocks
Both headline indices rise as much as 0.6 per cent in a smart recovery within the first 15 minutes of trade following a flat start. The Sensex gains 367.4 points to touch 59,502.5 at the strongest level of the day so far and the Nifty50 climbs to as high as 17,525.7, up 112.8 points from its previous close.
Here's how the intraday charts are building up for Sensex and Nifty:
Sensex
Nifty50
Anil Singhvi Market Strategy | Support for Nifty50 at 17,250-17,325 levels; intraday, closing stop loss for existing long positions in Nifty at 17,250
Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,250-17,325 levels today. He expects next support to emerge in the 17,100-17,175 range.
For the Nifty Bank, he sees support coming in at 40,000-40,100 and 39,750-39,900 levels, and last support in the 39,425-39,600 band.
Read more on how Anil Singhvi views the market today and what he recommends
Global Market LIVE | Dow Jones futures jump 400 pts, S&P 500 futures up over 50 pts, indicate a gap-up start on Wall Street after Freaky Friday
The futures of the three main US share market indices — the Dow Jones, the S&P 500 and the Nasdaq Composite — jump more than one per cent each in some respite for the bulls after the benchmarks suffered heavy cuts on Friday over fears of contagion in the financial sector and strong February employment data showing the economy added more jobs than expected.
- Dow Jones futures: up 402 points or 1.3 per cent at 32,320
- S&P 500 futures: up 64 points or 1.7 per cent at3,926.8
- Nasdaq Composite futures: up 193 points or 1.6 per cent at 12,033.3
However, shock waves continue to reverberate through global financial stocks after regulators closed SVB Financial Group following the bank's failed attempt to raise capital. On Friday, here's what the three US indices looked like at the end of the day:
- Dow Jones: down down 345.2 points or 1.1 per cent at 31,909.6
- S&P 500: down 56.7 points or 1.5 per cent at 3,861.56
- Nasdaq Composite: down 199.5 or 1.8 per cent at 11,138.9
Asian shares mixed as concerns persist about impact of SVB shutdown on financial system
Major markets across Asia stage mixed moves with the Hong Kong, China and South Korea benchmarks building on to initial gains. Caution persists among investors following a fall of 1.1-1.8 per cent in key Wall Street indices last week amid fears of contagion in the financial sector after regulators closed US-based SVB Financial Group following the lender's failed attempt to raise capital.
MSCI's broadest index of Asia Pacific shares outside Japan is up one per cent at this hour.
- Japan's Nikkei 225: down 1.6 per cent
- China's Shanghai Composite: up 0.3 per cent
- Hong Kong's Hang Seng: up 1.3 per cent
- South Korea's KOSPI: up 0.1 per cent
- Singapore's Straits Times: down 0.8 per cent
Share Market LIVE Today | SGX Nifty futures indicate a weak start ahead in Nifty50 today
Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty50 index — fall as much as 106 points or 0.6 per cent at 17,331.5 ahead of the opening bell on Dalal Street. However, SGX Nifty futrues recovered much of those losses around 8 am in India, in some respite for the bulls.
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