Share Market HIGHLIGHTS: Sensex ends 671 pts lower, Nifty sinks below 17,450 as D-Street extends losses to 2nd day amid global sell-off
Share Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 extended losses to a second straight day on Friday after a gap-down start, amid negative global cues after a bank stocks-led riot on Wall Street following the launch of a share sale by US-based tech lender SVB Financial to shore up its balance sheet. Fears about higher-for-longer benchmark interest rates resurfaced among investors ahead of key jobs data from the US due later in the day.
Share Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 extended losses to a second straight day on Friday after a gap-down start, amid negative global cues after a bank stocks-led riot on Wall Street following the launch of a share sale by US-based tech lender SVB Financial to shore up its balance sheet. Fears about higher-for-longer benchmark interest rates resurfaced among investors ahead of key jobs data from the US due later in the day.
Zee Business Managing Editor Anil Singhvi said the Indian stock market would get worse hereon if the Nifty50 gives up a key base at 17,300. On the other hand, the situation will improve if the 50-scrip index takes out resistance at 17,800. For the Nifty Bank, he sees support emerging in the 40,750-40,875 area, and a strong buy zone in the 40,525-40,700 band. Read more on Anil Singhvi's strategy today
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Share Market Update | Sensex sheds 671 pts to close below 59,150, Nifty50 gives up 17,450 as headline indices extend losses to second straight day
Both headline indices finish the day with losses of around one per cent. The Sensex loses 671.2 points to end at 59,135.1 and the Nifty50 settles at 17,412.9, down 176.7 points from its previous close.
Here's how the main gauges moved through the day:
Sensex
Bharti Airtel shares buck trend as market bleeds; Jefferies double-upgrades telecom stock to 'buy'
Bharti Airtel shares swing between gains and losses in a narrow range on Friday, but manage to fare better than the headline indices in a market-wide sell-off, after Jefferies gives a double upgrade the private sector telecom company and raised its target price by Rs 50. The Bharti Airtel stock makes it to the green intermittently amid volatile trade, moving within a range of Rs 11 around the flatline.
The brokerage now has a 'buy' call on Bharti Airtel, as against 'hold' earlier, with a target price of Rs 900 — which implies upside potential of more than 16 per cent from its previous close.
Jefferies peggs 13 per cent growth in Bharti Airtel's average revenue per user (ARPU) over the three-year period ending March 2025, driven by:
- market share gains in 4G
- hikes in voice tariffs
- improving tariff outlook owing to government support for rival Vodafone Idea
Share Market Tips LIVE | Swati Hotkar recommends buying Varroc Engineering, Prism Johnson shares
Swati Hotkar of Nirmal Bang Securities shares two trade calls with Zee Business viewers:
- She suggests buying Prism Johnson shares for a target price of Rs 120 with a stop loss at Rs 103
- Hotkar also has a 'buy' call on Varroc Engineering for a target of Rs 285 with a stop loss at Rs 255
Share Market Tips LIVE | Swati Hotkar recommends buying Varroc Engineering, Prism Johnson shares
Swati Hotkar of Nirmal Bang Securities shares two trade calls with Zee Business viewers:
- She suggests buying Prism Johnson shares for a target price of Rs 120 with a stop loss at Rs 103
- Hotkar also has a 'buy' call on Varroc Engineering for a target of Rs 285 with a stop loss at Rs 255
Hindustan Aeronautics Ltd (HAL) shares fail to make it to the green after dividend announcement
Friday's dividend announcement is the company's third in the current financial year. Earlier, the company had declared a dividend of Rs 20 in November and Rs 10 in August.
The stock is down by Rs 12.4 or 0.4 per cent at Rs 2,850.1 apiece on BSE.
A record date of March 20 is set for the HAL dividend payout.
HAL Dividend News | Hindustan Aeronautics announces Rs 20 per share dividend
The aerospace and defence company's board gives nod to a dividend of Rs 20 per share. HAL shares fail to make it to the green after the dividend announcement.
Read more on HAL dividend
FIIs have brought in over Rs 16,400 crore to Indian shares so far in March 2023
As of Thursday, net purchases of Indian shares stand at Rs 16,423.3 crore by FIIs so far this month, and Rs 5,579.2 crore by DIIs, according to provisional exchange data. In February, FIIs sold shares worth net Rs 11,090.6 crore though DIIs made net purchases of Rs 19,239.3 crore.Date Net purchase/sale FII DII 09-Mar-23-561.8 +42.4 08-Mar-23 +3,671.6 -937.8 06-Mar-23 +721.4 +757.2 03-Mar-23 +246.2 +2,089.9 02-Mar-23 +12,770.8 +2,128.8 01-Mar-23 -424.9 +1,498.7 *All figures in crore rupees
Share Market Tips LIVE | Buy Bata India, Cipla shares, says Mehul Kothari
Mehul Kothari of Anand Rathi Shares & Stock Brokers has two trade recommendations for Zee Business viewers:
- Buy Bata India shares at Rs 1,410 for a target of Rs 1,520 with a stop loss at Rs 1,350
- Buy Cipla near Rs 880 for a target of Rs 920 with a stop loss at Rs 860
Share Market LIVE Update | No respite for the bulls; Sensex plunges over 750 pts, Nifty50 refuses to make it back to 17,400
Here's how the indices have moved so far today:
Sensex
Nifty50
Share Market Tips LIVE | Buy Coal India futures, sell Bank of Baroda futures, says Nirav Chheda
Nirav Chheda of Nirmal Bang Securities shares two stock futures recommendations with Zee Business viewers:
- Sell Bank of Baroda futures with a for a target of Rs 157 with a stop loss at Rs 172
- Buy Coal India futures for a target of Rs 238 with a stop loss at Rs 220
Nifty Bank LIVE | All 12 stocks in the red; Bank of Baroda, HDFC Bank, Axis Bank, PNB, IDFC First, SBI worst hit
Here's a look at how each one of these stocks is faring at this hour:
Stock Change (%) CMP Bank of Baroda (BANKBARODA) -2.5 167.3 HDFC Bank (HDFCBANK) -2.2 1,594.6 Axis Bank (AXISBANK) -2.1 849.8 Punjab National Bank (PNB) -2.1 49.9 IDFC First Bank (IDFCFIRSTB) -1.8 56.2 State Bank of India (SBIN) -1.8 549 Federal Bank (FEDERALBNK) -1.4 132.4 ICICI Bank (ICICIBANK) -1.3 844.6 IndusInd Bank (INDUSINDBK) -1.3 1,155 Kotak Mahindra Bank (KOTAKBANK) -0.9 1,701.4 AU Small Finance Bank (AUBANK) -0.8 618.8 Bandhan Bank (BANDHANBNK) -0.7 225.3 Nifty Bank LIVE | HDFC Bank, ICICI Bank, Axis Bank, SBI biggest drags on banking index
The Nifty Bank — whose 12 constituents include SBI, HDFC Bank, ICICI Bank, Axis Bank and Bank of Baroda — is down 733.8 points or 1.8 per cent at 40,523, having slumped as much as 866 points or 2.1 per cent earlier in the day.Here's a look at the heatmap of the 12-scrip index at this hour:Share Market Tips LIVE | Sell Nifty Bank futures, target 40,000, says Nirav Chheda
Nirav Chheda of Nirmal Bang Securities has a Nifty Bank trade recommendation for Zee Business viewers.
He suggests going short on Nifty Bank futures for a target of 40,000 with a stop loss at 40,950.
Share Market LIVE Today | Aptus Value, MRPL, KSB, Swan Energy shrug off broad-based weakness on Dalal Street, rise most among 120 gainers in BSE 500 universe
On the other hand, Equitas Small Finance Bank, Shilpa Medicare, Canara Bank and RBL Bank are among the top laggards in the 50-scrip basket.
Here's a look at stocks rising and falling the most in the broadest index on the bourse today:
Read more on HAL dividend
Share Buyback News | Ajanta Pharma announces Rs 315-crore buyback
The drug maker's board announces a share buyback programme for its investors at a price of Rs 1,425 per share, a premium of 16 per cent over the previous closing price.
The buyback will be implemented through a tender offer route, according to the drug maker.
Ajanta Pharma shares fall by as much as Rs 17.7 or 1.4 per cent to Rs 1,211 apiece amid market-wide weakness after the buyback announcement.
Share Market Tips LIVE | Buy Ingersoll Rand India shares, says Astha Jain
Astha Jain of Hem Securities suggests buying Ingersoll Rand India shares at Rs 2,400 for a target price of Rs 2,585 with a stop loss at Rs 2,250.
Ingersoll Rand India shares have rewarded investors with a return of 26 per cent so far in 2023, a period in which the Nifty50 benchmark index has declined 4.3 per cent.
Market Volatility | Fear index VIX soars 5% though off day's high
The India VIX index — known in market parlance as the gauge of fear — is up 4.9 per cent at 13.4.
Earlier in the day, the fear index had surged as much as 8.6 per cent to 13.8.
Dalal Street entered a new weekly derivative series today.
Sensex LIVE | HDFC Bank, HDFC, Reliance, ICICI Bank, Larsen & Toubro, Infosys biggest drags on 30-scrip index
Share Market Tips LIVE | Should you buy, sell or hold Bharti Airtel, Titan, HUL, MGL, other stocks in focus today?
Which stocks to buy, hold or sell today?
- Jefferies double upgrades Bharti Airtel to 'buy' from 'hold', raises target price to Rs 900 from Rs 850
According to the brokerage, the company's market share gain in 4G subscribers, hikes in voice tariffs and improving tariff outlook should help it drive 13 per cent growth in its mobile average revenue per user (ARPU) over the three-year period ending March 2025.- City maintains 'buy' on Mahanagar Gas, raises target to Rs 1,140 from Rs 1,030
Nifty LIVE | HDFC twins, ICICI Bank, Reliance, Axis Bank among stocks posing maximum pressure on headline index
Sensex LIVE Update | Only two stocks in the 30-scrip basket hold on to the green: Tata Motors, Bharti Airtel
On the flipside, here's a look at the top losers in the basket:
- HDFC
- HDFC Bank
- ICICI Bank
- IndusInd Bank
- Larsen & Touro
- SBI
- Reliance, Axis Bank
- Bajaj Finserv
- Asian Paints
Share Market LIVE Today | Sensex plummets over 700 pts, Nifty50 cracks below 17,400 amid broad-based sell-off
Both headline indices fall as much as 1.2 per cent within the first 15 minutes of trade. The Sensex loses 736 points to hit 59,070.3 on the downside at the weakest level of the day so far, and the Nfity50 slides to as low as 17,381.6, down 208.1 points from its previous close.
Here's how the intraday charts are building up for Sensex and Nifty50:
Sensex
Nifty50
Share Market LIVE Today | Sensex down nearly 550 pts in pre-opening session, Nifty 10 pts below 17,600
In the pre-open market, both headline indices settle 0.9 per cent lower, in line with SGX Nifty indications this morning.
- Sensex: down 546.5 points at 59,259.8
- Nifty50: down 164.8 points at 17,589.6
Anil Singhvi Market Strategy | Support for Nifty50 at 17,425-17,465 levels
Zee Business Managing Editor Anil Singhvi expects a strong buy zone for the Nifty50 index in the 17,300-17,350 range. For the Nifty Bank, he sees support emerging in the 40,750-40,875 area, and a strong buy zone in the 40,525-40,700 band.
Read more on how Anil Singhvi views the market today and what he recommends
Anil Singhvi Market Strategy | Support for Nifty50 at 17,425-17,465 levels
Zee Business Managing Editor Anil Singhvi expects a strong buy zone for the Nifty50 index in the 17,300-17,350 range. For the Nifty Bank, he sees support emerging in the 40,750-40,875 area, and a strong buy zone in the 40,525-40,700 band.
Read more on how Anil Singhvi views the market today and what he recommends
Dividend/ share buyback announcements coming? Hindustan Aeronautics (HAL), Ujjivan Financial Services boards meet today to consider dividend
Ajanta Pharma's board is all set to consider a proposal to buy back shares.
Share Market Tips LIVE | Buy, sell or hold strategy on SBI Cards, Infosys, PVR, IndiGo, Patanjali, 15 other stocks today
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track today.
Global Market Update | Asian shares begin the day deep in the red following weak Wall Street handover
Equities across major other Asian markets start the day sharply lower, with MSCI's broadest index of Asia Pacific shares outside Japan trading 1.6 per cent lower at this hour.
- Japan's Nikkei 225: down 1.2 per cent
- China's Shanghai Composite: down 0.8 per cent
- Hong Kong's hang Seng: down 2.4 per cent
- Singapore's Straits Times: down 0.8 per cent
- South Korea's KOSPI: down 1.1 per cent
US Stock Market Update | Dow Jones hits 4-month low, S&P 500, Nasdaq fall around 2% dragged by banking shares; all eyes on US jobs data
The three main Wall Street indices — the Dow Jones, the S&P 500 and the Nasdaq Composite — fell around two per cent each on Thursday with banking stocks posing the maximum pressure as investors worried that US jobs data due on Friday could spur more aggressive interest rate hikes from the Fed.
- Dow Jones: down 543.5 points — or 1.9 per cent — at 32,254.9
- S&P 500: down 73.7 points — or 1.7 per cent — at 3,918.3
- Nasdaq Composite: down 237.7 points — or 2.1 per cent — at 11,338.4
The S&P 500's bank index finished down 6.6 per cent, after hitting its lowest level in five months during the session. The steep losses in the banking space were triggered by tech-industry lender SVB Financial Group's launch of a share sale to shore up its balance sheet due to declining deposits from startups struggling for funding.
Indian Share Market on Thursday | Nifty50 cracked below key 17,600 support, Sensex finished 542 pts lower as headline indices halted three-day winning run
Both Sensex and Nifty ended a weak session on Thursday with cuts of 0.9 per cent. The Sensex lost 541.8 points to close at 59,806.3 and the Nifty50 shed 164.8 points to settle at 17,589.6.
Here's how the Sensex and the Nifty50 moved through the day:
Sensex
Share Market LIVE Today | SGX Nifty futures fall over 150 pts, indicate a gap-down opening on Dalal Street today
Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty50 index — are down 136 points or 0.8 per cent at 17,482, having fallen as much as 160 points or 0.9 per cent to 17,458 earlier in the day.
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