Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices extended losses for the third session in a row. Nifty sank 258 points to close at 17,154, under the 17,200 mark. Sensex followed suit, crashing almost 900 points to end at 58,237. Bank Nifty declined 2.27%, at 39,564, down by over 920 points. The broader markets closed largely in red, with Nifty Midcap losing 2% and Nifty Smallcap 50 sliding 2.26%. Volatility gauge, India VIX, soared 20.89%. Sectorally, Nifty Media, Nifty Auto, Nifty PSU Bank and Nifty Private Bank were the top losers, falling up to 2.87%.
“Nifty has found support at 17300, which is important because this month’s support range is considered to be between 17200 and 17300. If Nifty cannot maintain 17300, additional selling pressure might push it in the upcoming months to levels of 17000 or 16800,” said Ameya Vikas Ranadive CMT, CFTe, Equity Research Analyst at Choice Broking.
“Nifty first support at 17381 and then 17313 while resistance at 17504 and 17558,” said Rahul Sharma, JM Financial.
The National Stock Exchange has Balrampur Chini and GNFC on its F&O ban list for 13 March. According to the NSE, stocks are prohibited in the F&O sector when they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.
Foreign institutional investors (FII) net sold shares worth Rs 2,061.47 crore, while domestic institutional investors (DII) net acquired equities worth Rs 1,350.13 crore on 10 March, according to the provisional data available on the NSE.
Oil prices jumped on Friday after the jobs data, but registered a 3% drop on the week over rate hike jitters. U.S. crude rose 1.27% to settle at $76.68 per barrel and Brent settled at $82.78 per barrel, up 1.46% on the day.
The US market ended Friday’s session in the red territory with Dow Jones Industrial Average falling 1.07%, S&P 500 dipping 1.45% and the tech-heavy Nasdaq dropping 1.46%.
Asian markets were trading mixed with China’s Shanghai Composite Index rising 0.25%, Hong Kong’s Hang Seng climbing 0.62% while Japan’s Nikkei 225 falling 1.63% and South Korea’s KOSPI dipping 0.70%.
The Nifty futures on the Singapore Exchange (SGX) were trading 39.50 or 0.23% lower at 17,398.00 in the early morning trade.