Broader markets outperformed benchmarks on Tuesday.Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity markets began trading with gains on Tuesday but ended the day flat with negative bias. S&P BSE Sensex ended 50 points lower at 52,104 while the broader 50-stock NSE Nifty was at 15,313. Among the top gainers were PSU firms Power Grid, ONGC, and NTPC. Power Grid’s share price surged over 6% while ONGC gained more than 5%. Axis Bank and ICICI Bank were the top drags. Broader markets outperformed the benchmarks and closed with gains.
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Highlights
After having reached fresh all-time highs, Sensex and Nifty retreated and closed the day’s trade in the red. S&P BSE Sensex ended 50 points lower at 52,104 while the broader 50-stock NSE Nifty closed at 15,313. Broader markets gained, outperforming the benchmarks. Nifty Midcap 50 jumped 0.38% and the Smallcap 50 gained 0.40%. Among top gainers on BSE Sensex were Power Grid, up 6%, followed by ONGC’s 5% jump and NTPC. Axis Bank and ICICI Bank were among the drags.
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Sensex and Nifty ended flat with a negative bias on Tuesday. Broader markets outperformed and ended with gains.
"Oil prices are moving lower tracking global risk markets negative skew on the China trade war escalation story. Still, it's almost in a predictable fashion with the street knowing full well Mother Nature nor Middle East tension price boosts especially amid a supply glut is likely to have the legs to support oil prices alone as both types of price bounces historically have typically faded as quickly as they come on. So, we could expect some natural downward price moves as oil markets supply or sentiment naturally rebalance to the current equilibrium," said Stephen Innes, Chief Global Market Strategist at Axi.
On Sensex, the top gainers on Tuesday were Power Grid, ONGC, and NTPC -- all state-owned firms. Power Grid's share price zoomed over 6%.
Sensex trimmed losses and was down merely 70 points with less than an hour to go before the closing bell. Nifty too was trading flat.
Tesla’s investors, whether direct through the company shares or indirect through active or passive funds, have now effectively become holders of cryptocurrency Bitcoin, without actually buying it. This happened as Tesla’s famed CEO Elon Musk invested a staggering $1.5 billion of the company’s money into buying Bitcoin. Elon Musk also said that Tesla will accept Bitcoin as a form of payment soon.
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Sensex is sitting over 200 points lower just below the 52,000 mark. Nifty 50 was at 15,274.
Continuing the spree of initial public offerings (IPO), agrochemical firm Heranba Industries' public issue will open for subscription next week. The Gujarat-based agrochemical company is looking to raise Rs 625 crore from capital markets through the issue which will be a mix of an Offer for Sale (OFS) by existing shareholders and a fresh issue of equity shares. Heranba Industries will join peers such as Rallis India, Dhanuka Agritech, Sumitomo Chemical India, and PI Industries, among others on the stock exchanges.
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Sensex slipped as much as 200 points during Tuesday's session. Nifty 50 gave up 15,300 as select banking stock pulled the index lower.
Sensex down from its highs and trading flat with a positive bias. It was still trading above 52,100. On the other hand, the 50-stock NSE Nifty was holding above 15,300.
With less than two months into 2021, Ministry of Railways has entered stock markets once again for an initial public offering (IPO). After the public issue of IRFC, now RailTel is looking to raise Rs 819 crore from investors through the share sale starting today. Incorporated in 2000, RailTel is an information and communications technology infrastructure provider and one of the largest neutral telecom infrastructure providers in the country. Ahead of the issue, RailTel has raised Rs 243.99 crore from 14 Anchor Investors, allocating 2.59 crore equity shares. IRFC, another Ministry of Railway firm to debut on the bourses this year, currently trades flat over its issue price.
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"We can observe a cluster of resistance in the zone of 15380 – 15500, which is the 161% ‘Golden Ratio’ of the entire fall from Jan’20 highs to March’20 lows. Hence, we advise momentum traders to keep booking profits in the ongoing rally and stay light on positions. On the flipside, 15250 – 15150 is to be seen as immediate supports. The major support is at 15000 and any decisive move below this level would lead to some decent profit booking in the market," said Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking.
Sensex and Nifty were up in the green but after nearly an hour of trade were down from their highs.
"The index continued its upward momentum with yet another gap up opening. We are steadily heading to 15500 which should be the next target and level of resistance for the Nifty. While a good support lies at 15100, traders should lock in profits at regular intervals and update stops as well. Since we are at market highs any drop or correction can make the markets volatile. Hence extreme caution should be exercised at all times," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
Brookfield India Real Estate Investment Trust (REIT) began trading on Dalal Street today at Rs 275.05 per unit, a flat listing debut for the Real Estate Trust over its price band of Rs 274-275 apiece. With this, Brookfield India REIT became the third REIT to be listed on the bourses in India. The Rs 3,800 crore public issue was subscribed 7.94 times earlier this month with both, Qualified Institutional Investors as well as Non-Institutional Investors oversubscribing their quota of the issue. On listing the REIT had a market capitalization of Rs 8,328 crore.
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Kotak Mahindra Bank and IndusInd Bank were the top gainers on Sensex, both surging more than 2%.
Sensex opened above 52,400 and soon was seen testing 52,500. Nifty 50 breaches 15,400 levels on the opening bell.
Sensex is likely to start the day's trade at 52,400 while Nifty 50 is at 15,371.
Sensex was up 200 points in the pre-open session on Tuesday, the 50-stock NSE Nifty jumped more than 62 points.
Sensex moved past 52,300 during the pre-open session on Tuesday morning. NSE Nifty 50 was nearing 15,400 mark.
SGX Nifty was hinting at a flat opening for domestic stock markets on Tuesday morning. Now, since the Union Budget, Both the benchmark indices, S&P BSE Sensex and NSE Nifty 50 have gained over 12% each. “Based on the daily chart, Nifty / Sensex are moving towards 15500/52500 levels with minor resistance at 15360/52250 level and on the downside, 15270/51850 and 15100/51200 would be the big supports,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities. He advises investors to trim long positions that are looking weak and book partial profits where returns have been abnormal.
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In the unlisted space, Brookfield India REIT is not witnessing any strong movement. Sandip Ginodia, CEO, Abhishek Securities, told Financial Express Online that there were hardly any enquiries about Brookfield REIT in the grey market. Based on this, Ginodia expects marginal listing day gains.
SGX Nifty was trading marginally higher on Tuesday morning hinting at a flat opening for domestic equity markets.
Brookfield India’s Real Estate Investment Trust (REIT) will make its stock market debut on Tuesday, 15 February 2021. The REIT was subscribed 7.94 times by investors during the three-day bidding period earlier this month. Of this, qualified institutional buyers (QIB) bid for 4.78 times their portion while non-institutional investors (NII) had bid for 11.52 times their quota. Seeing the current market sentiment, analysts expect Brookfield India REIT to open at a premium to its issue price of Rs 274-275 per share. This will make it the third REIT to successfully list on Dalal Street, after Embassy Office Parks REIT and Mindspace Business Parks REIT.
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