Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark equity indices concluded Thursday’s volatile session deeply in the red. The NSE Nifty 50 fell 164.80 pts or 0.93% to 17,589.60 and BSE Sensex tanked 541.81 pts or 0.90% to 59,806.28. Bank Nifty fell 320.35 pts or 0.77% to 41,256.75. The top gainers on the Nifty 50 were Tata Steel, Larsen & Toubro, Apollo Hospital, Bharti Airtel and Cipla while the losers were Adani Enterprises, Mahindra & Mahindra, SBI Life, Reliance and Adani Ports.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
Indian benchmark equity indices concluded Thursday’s volatile session deeply in the red. The BSE Sensex closed below 59,850 and the NSE Nifty 50 settled below 17600. Bank Nifty concluded below 41300.
The top gainers on the Nifty 50 were Tata Steel, Larsen & Toubro, Apollo Hospital, Bharti Airtel and Cipla while the losers were Adani Enterprises, Mahindra & Mahindra, SBI Life, Reliance and Adani Ports.
Bank Nifty fell 320.35 pts or 0.77% to 41,256.75.
The NSE Nifty 50 fell 164.80 pts or 0.93% to 17,589.60 and BSE Sensex tanked 541.81 pts or 0.90% to 59,806.28.
Divgi TorqTransfer Systems’ Rs 412 crore IPO concluded on 3 March and was subscribed 5.44 times after receiving healthy interest from all categories of investors. The price band for the IPO has been fixed at Rs 560-590 a share. Meanwhile, the share allotment will be finalized by the company this week on Thursday, while refunds will be initiated tomorrow, 10 March. IPO investors can check their share allotment status online through either BSE website or the IPO registrar, Link Intime India’s portal. Ahead of share allotment, Divgi TorqTransfer Systems IPO shares are commanding a grey market premium of Rs 23 today, down from the GMP of Rs 70 on 5 March.
Vedanta share price rose 0.53% to Rs 286.60 on Thursday after the group’s chairman Anil Agarwal assured investors that the company has enough funds to pay upcoming debt maturities worth $900 mln. The statement came as a relief to investors as the shares of Vedanta have fallen over 7% in the past one month while the stock has tanked nearly 23% in the last one year.
Home First Finance Company India, Gokaldas Exports, Laxmi Cotspin, Raj Rayon Industries, S Chand And Company, Almondz Global Securities, Sequent Scientific, Shilpa Medicare, Adani Power, NINtec Systems are among the volume gainers on the NSE index.
Alternatively, 38 stocks including Share Ind Sec, Pfizer, Aditya Birla Sun Life AMC, Aarti Drugs
On the NSE Nifty, 40 stocks hit their 52-week highs including Bosch, Share Ind Sec, Procter & Gamble Health, Kirloskar Industries, Cummins India, Blue Star, Revathi Equipment, De Nora India, Mahanagar Gas, Kaynes Technology India, H.G. Infra Engineering, Tega Industries, PNB Housing Finance, CCL Products (India), Kirloskar Ferrous Industries, Vardhman Special Steels, Medico Remedies, Zen Technologies, Titagarh Wagons, Petronet LNG, S Chand And Company, Usha Martin, Kamdhenu Ventures , Career Point, Jindal Saw, Ganesh Benzoplast, Power Finance Corporation, TD Power Systems, Geekay Wires, REC among others.
31 stocks hit their lower price band including D B Realty, Spacenet Enterprises, Reliance Capital, Cerebra Integrated Technologies, Suumaya Industries, Fertilizers and Chemicals Travancore. Additionally, 15 scrips hit both bands.
On the NSE Nifty, 59 stocks hit their upper price band. Adani Power, Adani Wilmar, NDTV, Adani Transmission, Adani Total Gas, Adani Green Energy, Kamdhenu, Kirloskar Electric Company, Asian Energy Services, Lokesh Machines, PC Jeweller were among the scrips.
On the NSE Nifty index, the top winners are Cipla, Tata Steel, Apollo Hospitals, NTPC, Bharti Airtel, with Cipla up 2%. The biggest laggards are Adani Enterprises, Adani Ports
Adani Enterprises, Reliance Industries, Adani Ports, HDFC Bank, Cipla are the most active Nifty 50 stocks intraday.
The top gainers on Nifty 50 were Hindalco, Tata Steel, JSW Steel, Bharti Airtel and Apollo Hospital and the losers were Reliance, SBI Life, TCS, Bajaj Finserv and Mahindra & Mahindra.
Bank Nifty rose 6.90 pts 0.02% to 41,584.00.
The NSE Nifty 50 fell 2 pts or 0.01% to 17,752.40 and BSE Sensex rose 11.86 pts or 0.02% to 60,359.95.
Indices ended the pre-opening session in the green territory. The NSE Nifty 50 rose 17.65 pts or 0.1% to 17,772.05 and BSE Sensex climbed 119 pts or 0.20% to 60,467.09.
“Bank Nifty has support at 41000-41200 while resistance is placed at 42300-42500 range,” said Devan Mehata, Equity Research Analyst at Choice Broking.
“Bank Nifty is likely to trade in the range of 41000-42000 but within the range, the undertone remains bullish and one should keep a buy-on-dip approach with immediate support at the 41200 level. The resistance of 42000 if taken out will open up the gates for a further up move towards 43,000 levels,” said Kunal Shah, Senior Technical Analyst at LKP Securities.
“As long as Nifty maintains above its intraday support level of 17601, the outlook is likely to be favourable. Nifty level 17857 is the immediate goal as long as the Nifty 17601 support level holds. We anticipate a larger rebound at Dalal Street with stock-specific action as the main theme if the price closes above 17857,” said Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities Ltd.
“We are of the view that as long as the index is trading above 17700 or 20-day SMA the uptrend formation is likely to continue, above which the market could move up to 17850-17875. On the flip side, below 17700 the selling pressure is likely to accelerate. Below the same, the market could retest the level of 17600-17550,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
“In order to advance closer to the 18000 level, the index must now surpass the 50-day EMA, which is close to 17810 levels. The volume profile indicates Index has strong support around the 17450-17550 zone. Coming to the OI Data, on the call side, the highest OI was observed at 17900 followed by 18000 strike prices while on the put side, the highest OI is at 17600 strike price,” said Devan Mehata, Equity Research Analyst at Choice Broking.
“On the daily charts, we can observe that Nifty, after a sharp rally in the previous couple of trading sessions, witnessed a day of consolidation. The zone of 17650 – 17600 acted as a strong support zone and witnessed buying interest. The hourly Bollinger bands are contracting and the hourly momentum indicator has a negative crossover, both of which indicate that consolidation is likely before it begins a trending move. From a short-term perspective, the range of consolidation is likely to be 17400 – 17925,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
“The Nifty index remains in a buy mode as long as it holds the support of 17,500 on the downside where fresh put writing has been observed. The index’s immediate hurdle on the upside is at 17,800 and once surpassed will witness further short covering towards 18000 levels,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
The National Stock Exchange has Balrampur Chini on its F&O ban list for 9 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 bought shares worth Rs 3,671.56 crore, while domestic institutional investors (DII) net sold equities worth Rs 937.8 crore on 8 March, according to the provisional data available on the NSE.
The US market also ended the overnight session on a mixed note with Dow Jones Industrial Average falling 0.18%, the tech-heavy Nasdaq rising 0.40% and S&P 500 climbing 0.15%.
Asian markets were trading mixed with China’s Shanghai Composite index rising 0.04%, Japan’s Nikkei 225 climbed 0.58% while Hong Kong’s Hang Seng fell 0.06% and South Korea’s KOSPI dipped 0.14%.
The Nifty futures on the Singapore Exchange (SGX) were trading 3 pts or 0.02% higher at 17,803.00 in the early morning trade.