Share Market HIGHLIGHTS: Sensex makes a big U-turn to end 591 pts below day's high, Nifty sinks below 17,050

Share Market Update | Broad-based losses continue on Dalal Street; Nifty PSU Bank remains top loser among sectoral gauges   

Global Market LIVE | European shares continue to fall amid weakness in banking stocks thanks to SVB collapse 

European shares begin the day in the red amid sustained weakness in banking shares across the globe, even as US President Joe Biden vowed to take action to ensure the safety of the US banking system, after the sudden collapse of US-based startup lender Silicon Valley Bank.

The pan-European Stoxx 600 index is down 0.3 per cent at this hour. 

Share Market Update | Sensex, Nifty50 sink to 5-month closing lows as market bleeds 

The Sensex finishes the day with a loss of 337.7 points or 0.6 per cent at 57,900 — shedding close to 2,450 points in four back-to-back sessions, and the Nifty50 settles at 17,043.3, down 111.00 points or 0.7 per cent from its previous close.

Both indices hit their lowest closing levels recorded since October 13, 2022. 

Here's how the Sensex and the Nifty50 moved through the day: 

Sensex

Nifty50

Read more on the March 14 session

Share Market Tips LIVE | Buy Vedanta, sell City Union Bank, says Shilpa Rout 

Shilpa Rout of Shilpa Rout Prabhudas Lilladher shares two trade recommendations: 

• Buy Vedanta for targets of Rs 289 and Rs 292 with a stop loss at Rs 276
• Sell City Union Bank for a target of Rs 128 with a stop loss at Rs 135

Sensex LIVE | Titan, IndusInd, Sun Pharma, ICICI Bank the only gainers in 30-scrip basket

Sensex LIVE | 30-scrip gauge slides over 750 pts from day's high as market bleeds

The Sensex slides to as low as 57,721.2, shedding more than 750 points from its strongest level of the day: 58,491. 

Nifty LIVE | Headline index slides below 17,000 mark for first time in five months

The 50-scrip gauge slides as much as 167.2 points  — or one per cent — to 16,987.1, cracking below the psychologically-important 17,000 mark for the first time since October 13, 2022. 

This private bank's shares have doubled investors' money in six months — Is it a good time to book profit?

South Indian Bank shares have doubled in value in six months. ICICI Securities is bullish on the private sector lender citing its revamped business model that is producing positive results. The brokerage believes an improving profitability trajectory will continue for the Kerala-based lender.

Read more on South Indian Bank shares

Global Market News | US megacap tech stocks-heavy Nasdaq Composite set to continue upmove on Tuesday

The Nasdaq Composite — where Apple, Microsoft and Amazon together have a weightage of 30.5 per cent — bucked the overall negative trend on Wall Street on Monday, closing with a gain of 50 points or 0.5 per cent at 11,188.8. 

However, persistent weakness in banking stocks dragged the Dow Jones and the S&P 500: 

• Dow Jones: down 90.5 points or 0.3 per cent at 31,819.1
• S&P 500: down 5.8 points or 0.2 per cent at 3,855.8

Concerns remain among investors globally about contagion from the collapse of Silicon Valley Bank, following its sudden shutdown on Friday after a failed capital raise. The latest turmoil in the US share market comes at a time when investors are already worried about the prospect of higher-for-longer benchmark interest rates. 

Gobal Market LIVE | Dow Jones, S&P 500, Nasdaq Composite futures up 0.2-0.3%, indicate a positive start ahead in US stock market

The futures of three main Wall Street indices — the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite — hold on to the green in Asian trade. Here's what the contracts look like at this hour: 

• Dow Jones futures: up 78 points or 0.3 per cent at 31,908
• S&P 500 futures: up 9.3 points or 0.2 per cent at 3,866
• Nasdaq Composite futures: up 21.3 points or 0.2 per cent at 11,953

Share Market Tips LIVE | Sell Wipro shares, says Nilesh Jain  

Nilesh Jain of Centrum Broking suggests selling Wipro shares for a target of Rs 368 with a stop loss at Rs 385.

Divgi IPO Listing | Divgi TorqTransfer Systems barely in premium zone vs issue price   

At this hour, the new kid on the block, Divgi TorqTransfer, is trading at Rs 594 apiece on BSE and Rs 595.1 apiece on NSE — a premium of one per cent over the upper end of the issue price. 

Read more on Divgi TorqTransfer Systems listing

Stock Market Tips LIVE | Buy United Spirits Ltd (USL) shares, says Nilesh Jain  

Nilesh Jain of Centrum Broking shares one 'buy' call with Zee Business viewers. He suggests buying United Spirits shares for targets of Rs 780 and Rs 790 with stop loss at Rs 748.

Share Market Tips LIVE | Mehul Kothari recommends buying Sun Pharma Rs 980 call option at Rs 10, target Rs 18  

Mehul Kothari of Anand Rathi Shares & Stock Brokers shares two trade calls: 

• Buy the Rs 980 call option of Sun Pharma at Rs 10 for a target of Rs 18 with a stop loss at Rs 5 
• Buy the Rs 470 put option of HDFC Life at Rs 9.5 for a target of Rs 18 with a stop loss at Rs 4 

Kothari also has a 'buy' on the 17,200 call option of Nifty50 at Rs 45-50 for a target of Rs 100 with a stop loss at Rs 20. 

Macro Data | Wholesale inflation eases to two-year low of 3.85% in February vs 4.73% in previous month

Read more on wholesale inflation

Share Market Tips LIVE | Buy Mahindra Holidays, Action Construction shares, says Avinash Gorakssakar 

In an interaction with Zee Business Managing Editor Anil Singhvi, Avinash Gorakssakar of Profitmart Securities shares two trade recommendations with a perspective of 12-15 months:

• Buy Mahindra Holidays shares for a target of Rs 350
• Buy Action Construction Equipment shares for a target price of Rs 450

Key Market Triggers | Wholesale inflation data due at noon

Official data on wholesale inflation in the country — measured by the consumer price index (CPI) — is due for release at 12:00 pm. The data comes a day after separate data showed consumer inflation stayed above the six per cent mark, beyond the RBI's comfort zone, for a second straight month. 

The RBI tracks consumer inflation primarily for formulating its monetary policy. 

Nifty LIVE | Adani Enterprises, ICICI Bank, Kotak Mahindra Bank, Infosys, SBI weigh on headline index

Financial and IT shares are posing the maximum pressure on the Nifty50 gauge at this hour. On the other hand, heavyweights such as Reliance, Larsen & Toubro, Titan and HDFC Bank are helping Nifty50 avoid deeper cuts.

Nifty LIVE: Here's a glance at the heatmap:  

Nifty LIVE | Nifty PSU Bank worst hit among sectoral gauges, down almost 2%

Nifty LIVE | Adani Enterprises (ADANIENT), Adani Ports (ADANIPORTS), Tech Mahindra (TECHM), UPL, Bajaj Finance (BAJFINANCE) worst hit among 28 laggards in the 50-scrip basket

Bajaj Finserv (BAJAJFINSV), SBI, Mahindra & Mahindra (M&M), HCL Tech (HCLTECH), Axis Bank (AXISBANK) and Kotak Mahindra Bank (KOTAKBANK) are also among the top losers in the Nifty universe. 

On the other hand, SBI Life (SBILIFE), Titan, Larsen & Toubro (LT), Bharat Petroleum (BPCL), HDFC Life (HDFCLIFE), Tata Steel (TATASTEEL) and HL (HINDUNILVR) are the top blue-chip gainers at this hour.

Nifty LIVE: Here's a look at the top gainers and top losers in the 50-scrip pack at this hour: 

Nifty LIVE | Headline index cracks below 17,100 dragged by financial, IT, auto shares  

The Nifty50 index sheds 83.4 points or 0.5 per cent to hit 17,070.9 on the downside at the weakest level of the day so far, 75 minutes into the opening bell.

Stock Market Tips LIVE | Sumeet Bagadia recommends buying United Spirits Ltd (USL) shares 

Sumeet Bagadia of Choice Broking suggest going long on United Spirits shares for a target of Rs 775-780 with a stop loss at Rs 740.

Stock Market Tips LIVE | Buy MCX shares, says Rakesh Bansal   

In an interaction with Zee Business Managing Editor Anil Singhvi, Rakesh Bansal of Rakesh Bansal Ventures suggests buying MCX shares for a target of Rs 1,511 with a stop loss at Rs 1,460.

MCX shares have rewarded investors with a return of almost 16 per cent in the past six months, a period in which the Nifty50 index has declined five per cent. 

IPO Listing LIVE | Divgi shares debut at 2-5% premium over IPO issue price

Divgi shares debut at Rs 600 apiece on BSE, a premium of 1.7 per cent over Rs 590, the upper end of the price band of its IPO. On NSE, the Divgi stock begins its journey at Rs 620, a premium of 5.1 per cent. 

Read more on Divgi TorqTransfer listing 

Divgi TorqTransfer Systems listing at 10 am today; Anil Singhvi says long-term investors can hold

Divgi TorqTransfer Systems shares are set to debut on bourses BSE and NSE shortly.

Here's what Zee Business Managing Editor Anil Singhvi says: 

• Divgi expected to list at a slight premium over issue price 
• Short-term investors keep a stop loss at issue price
• Long-term investors can hold

Read more on Divgi listing, IPO

Share Market Tips LIVE | TCS, ICICI Bank, Britannia, Coforge, Colgate, 15 other stocks in the spotlight

In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track today. 

• Kushal Gupta suggests buying Sona BLW Precision Forgings in the spot market for a one-year target of Rs 500
• Arman Nahar has a 'sell' call on ICICI Bank futures for a target of Rs 820 with a stop loss at Rs 852

Check out the complete list of their stock recommendations

Share Market Today LIVE | Sensex moves over 200 pts around flatline amid choppy trade; Nifty50 stuck in 17,100-17,200 band 

Share Market LIVE Today | Sensex down 69 pts at 58,169 in pre-open market, Nifty50 barely in the green at 17,161   

In the pre-opening session, the Sensex finishes down 69.1 points or 0.1 per cent at 58,168.8, and the Nifty50 at 17,160.6, up 6.3 points from its previous close. 

Brokerage Rating, Target Price: Bharti Airtel, Tata Motors, Paytm, Sun Pharma in focus

Morgan Stanley has maintained an ‘equal-weight’ rating on Paytm. Citi has a ‘buy’ call on the digital payments firm.

Check out the complete list of brokerage calls

 Anil Singhvi Market Strategy | Support for Nifty50 at 16,950-17,025 levels; Divgi listing likely at slight premium

Zee Business Managing Editor Anil Singhvi expects a strong buy zone for the Nifty50 benchmark at 16,750-16,850 levels. For the Nifty Bank, he sees support emerging at 39,100-39,300 and 38,725-38,950 levels, and a strong buy zone in the 38,450-38,625 band. 

How Anil Singhvi views the market today and what he recommends

Stocks in Focus Today | GAIL, Sona BLW, Nalco, Hudco, Astral, Lupin in the spotlight  

• Divgi TorqTransfer Systems shares to debut in secondary market at 10 am; Divgi IPO saw overall subscription of 5.4 times the shares on offer 
• MCX to launch natural gas mini futures
• Astral to trade ex-bonus today; CPVC pipe and fitting maker had announced bonus in 1:3 ratio, meaning one equity share for every three held
• Hudco board meets Today to consider an interim dividend; if a dividend is approved, record date will be March 22
• Apollo Pipes board to discuss fund-raise 
• Data Patterns board approves QIP issue at Rs 1,220.3 per share, aims to raise Rs 450 crore 
• US drug regulator FDA completes inspection at Lupin's bioresearch centre in Pune with no observations
• Surya Roshni wins Rs 96 crore order from HPCL
• Dividends declared on Monday:
  • Sun TV board declared Rs 2.5 per share dividend
  • GAIL board declared Rs 4 per share dividend
  • Nalco board declared Rs 2.5 per share dividend

• Market regulator Sebi clears PNB Housing Finance rights issue
• Global Surfaces IPO to enter second day of bidding process
• Blackstone affiliate Singapore VII Topco III exits Sona BLW Precision (SONACOMS) for over Rs 4,900 crore 
• M&M offloads 6.1% stake in Mahindra CIE for Rs 821.3 crore at Rs 357.4 per share, Societe General among buyers; M&M stake down at 3.2 per cent from 9.25 per cent

Macroeconomic Data | Consumer inflation barely eased to 6.44% in February, remains above RBI comfort zone for second straight month 

Retail inflation in India, measured by the consumer price index (CPI), eased to 6.44 per cent in February from 6.52 per cent in the previous month, according to official data released on Monday evening.

The RBI tracks retail inflation closely for formulating its monetary policy. 

An official reading of wholesale inflation in the country is due at noon today. 

Read more on inflation in India

Share Market Today LIVE | SGX Nifty futures rise over 50 pts, indicate positive start ahead for Nifty50  

Good morning! Welcome to Zeebiz.com's blog on the stock market today

Follow this space to catch minute-by-minute market action, the views of Zee Business Managing Editor Anil Singhvi and other experts, investment ideas, stock picks, brokerage calls and much more through the day. 

Happy trading, and happy investing!