Market HIGHLIGHTS: Sensex jumps 1,030 pts, Nifty settles near 15,000 in extended session; HDFC Bank up over 5%

By: |
Updated: February 24, 2021 5:29:20 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended over 2 per cent higher in an extended session on Wednesday

Share Market Today, Share Market LiveSectorally, the Nifty Bank and Private Bank indices finished the trade nearly 4 per cent higher. Image: Reuters

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: BSE Sensex and Nifty 50 ended over 2 per cent higher on Wednesday, in an extended session, following a nearly 4-hour long halt on the NSE. BSE Sensex zoomed 1,030 points or 2.07 per cent to 50,782, led by buying in HDFC Bank, ICICI Bank, Housing Development Finance Corporation (HDFC) and Reliance Industries Ltd (RIL) stocks. Nifty 50 surged 280 points to settle at 14,988. Other BSE Sensex gainers were Bajaj Finance, State Bank of India (SBI), Kotak Mahindra Bank and Infosys, among others. On the flip side, Dr. Reddy’s Laboratories, Power Grid Corporation of India, TCS, Sun Pharma were among top index losers. In the broader markets, the S&P BSE SmallCap index settled 1 per cent higher. While the S&P BSE MidCap index ended 0.77 per cent higher. Sectorally, the Nifty Bank and Private Bank indices finished the trade nearly 4 per cent higher.

Read More

Live Blog

Highlights

    17:07 (IST)24 Feb 2021
    Sensex ends over 1,000 pts up; Nifty near 15,000

    BSE Sensex zoomed 1,030 points or 2.07 per cent to 50,782, led by buying in HDFC Bank, ICICI Bank, Housing Development Finance Corporation (HDFC) and Reliance Industries Ltd (RIL) stocks. Nifty 50 surged 280 points to settle at 14,988

    16:42 (IST)24 Feb 2021
    Axis Securities wins the bid to acquire broking accounts of Karvy

    The NSE, BSE, and Metropolitan Stock Exchange (MSE) issued circular, dated February 06, 2021, to transfer the Trading, as well as, the demat accounts held by Karvy Stock Broking Limited (Karvy) to another Member/ Participant through a formal bidding process based on laid down eligibility criteria. Axis Securities Limited (a subsidiary of Axis Bank) had participated in the formal bidding process as per the circular. In the process, Axis Securities Ltd. has emerged as the successful bidder for Trading accounts (broking accounts) held by Karvy with NSE, BSE, and MSE. The said transfer of Trading accounts is subject to the remittance of the bid amount and submission of the necessary documents in relation thereto. Once the process is complete, the customer base of Axis Securities will surge from 2.5 million to over 3.6 million. 

    16:28 (IST)24 Feb 2021
    Embargo lifted on grant of Govt business to private banks

    Embargo lifted on grant of Govt business to private banks. All banks can now participate. Private banks can now be equal partners in development of the Indian economy, furthering Govt's social sector initiatives, and enhancing customer convenience. (FM Nirmala Sitharaman tweeted)

    16:19 (IST)24 Feb 2021
    Blackstone promoted, Global Automotive Supplier Sona Comstar files for Rs 6000 cr IPO

    Sona BLW Precision Forgings Ltd has filed its papers with the regulator to raise an aggregate of Rs 6000 cr via Initial Public Offering. The public issue of shares of face value of Rs 10 each, comprises a fundraise via fresh issue amounting to Rs 300 Cr and an Offer for Sale aggregating up to Rs. 5700 Cr by selling shareholder Singapore VII Topco III Pte Ltd., an affiliate of The Blackstone Group Inc.

    16:17 (IST)24 Feb 2021
    CM Segment Market reopening timings

    Pre-Open open time: 15:30 hrsPre-Open close time: 15:38 hrs (random closure in last minute)Normal Market open time: 15:45 hrsNormal Market close time: 17:00 hrs (NSE India tweets)

    16:15 (IST)24 Feb 2021
    CD Segment Normal Market re-opens at 15:30 hrs

    COM Segment Normal Market re-opens at 15:30 hrsSLB Market re-opens at 15:30 hrs

    16:14 (IST)24 Feb 2021
    NSE notifies market timings for today

    F&O Segment Normal Market will re-open as follows:Normal Market open time: 15:45 hrsNormal Market close time: 17:00 hrsTrade Mod cut off time: 17:30 hrs

    16:12 (IST)24 Feb 2021
    Huge demand witnessed for private islands, residential properties in resorts/coastal areas

    Ultra-High Net Worth Individuals based out of India and Non-Residents of India have traditionally shown huge interest in real estate either to set up a business or a second home. The pandemic has acted as a catalyst for the real estate sector across the globe with people preferring a spacious home for reasons of safety and security. A huge demand is witnessed for private islands along with residential properties in resorts/coastal areas. The estimated demand rises in the year 2021 is likely to bring back pricing power for the real estate developers: Nish Bhatt, Founder & CEO, Millwood Kane International - an investment consulting firm

    16:11 (IST)24 Feb 2021
    Sensex zooms 545 points to 50,296

    BSE Sensex zoomed 545 points or 1.10 per cent to 50,296.42, led by buying in HDFC Bank, Reliance Industries Ltd (RIL) and Housing Development Finance Corporation (HDFC) stocks

    16:03 (IST)24 Feb 2021
    RBI concerned over impact of cryptocurrency may have on financial stability: Das

    The Reserve Bank of India (RBI) is concerned over the impact cryptocurrencies may have on the financial stability in the economy and has conveyed the same to the government, Governor Shaktikanta Das said on Wednesday. (PTI)

    16:02 (IST)24 Feb 2021
    Nifty FMCG, IT and Nifty Pharma indices slip in trade

    Barring Nifty FMCG, IT and Nifty Pharma, all the sectoral indices were seen trading in the green

    16:00 (IST)24 Feb 2021
    If USD-INR respects 72.70 mark then we may see a bounce towards 73.0-73.15

    We have seen Rupee to appreciate immediately after the news that India’s defence minister stated they reached agreement with China to disengage troops from Pangong TSO lake area on disputed border. USDINR Spot hit a low of 72.70 which is the crucial support zone and if it consistently trades below 72.70 then the further downside is expected towards 72.50. However, if the pair respected 72.70 mark then we may see a bounce towards 73.0-73.15: Rahul Gupta, Head Of Research-Currency, Emkay Global Financial Services

    15:58 (IST)24 Feb 2021
    Expiry eve is a crucial day for expiry related trades

    Expiry eve is a crucial day for expiry related trades as time decay sets in. As indices froze a little after 10 am, FNO trades that reference such benchmark indices also slowed down. With hardly an hour’s trade possible for such index-based traders the higher margins on F&O positions may have been a double whammy. Towards this end, BSE being open may not have been much solace, but certainly a backup avenue for cash traders. Fortunately, VIX had calmed down after Monday’s steep fall, and the extended session post 3. 45pm could help settle things. As of Tuesday, Nifty and Bank nifty rollovers were at 40.9 and 36.7 respectively, in line with what is usually seen on similar days of previous expiries: Anand James, Chief Market Strategist at Geojit Financial Services

    15:56 (IST)24 Feb 2021
    HDFC Bank top Sensex gainer, up 2.7%

    HDFC Bank was the top BSE Sensex gainer, up 2.7 per cent, followed by Bajaj Finance, State Bank of India (SBI), Axis Bank and Titan Company.

    15:54 (IST)24 Feb 2021
    BSE Sensex jumps over 350 points

    BSE Sensex was trading 353 points or 0.71 per cent higher at 50,103. Today trading will continue till 5 PM.

    15:52 (IST)24 Feb 2021
    Nifty trades at 14,770 as it resumes trade

    After NSE resumed trade at 3.45 PM, Nifty 50 was trading at 14,769, up 61 points or 0.41 per cent.

    15:32 (IST)24 Feb 2021
    NSE will restart trading at 3.45 PM

    National Stock Exchange will restart normal trading at 3.45 pm and close at 5.00 pm, TV reports cited NSE worker as saying.

    15:28 (IST)24 Feb 2021
    Trading on BSE, NSE extended till 5 PM

    Trading on BSE, NSE extended till 5 PM, CNBC TV 18 cited NSE worker

    15:24 (IST)24 Feb 2021
    Sensex records modest gains; reclaims 50,000

    However, Sensex recorded modest gain today and reclaimed 50,000 levels despite mixed cues from global markets. A broad-based kind of rally was seen today with S&P Bank and Financials indices recording over 1% gains. In our view, Fed Chairman Powell’s dovish statement in his latest testimony offered comfort of global equities.: Binod Modi, Head Strategy at Reliance Securities

    15:20 (IST)24 Feb 2021
    Technical glitch at NSE made investors, traders anxious

    While domestic equities witnessed a brisk opening today, trading halt at NSE due to technical glitches made investors especially day traders anxious. There is ambiguity as of now especially pertaining to status of pending orders and intra-day square-off positioning.: Binod Modi, Head Strategy at Reliance Securities

    15:16 (IST)24 Feb 2021
    SEBI and NSE need to quickly look at alternatives

    A similar issue in index feeds had recently happened a few months ago but trading was not completely halted. Instead, trading went on with the glitch in index prices that day. SEBI and NSE need to quickly look at alternatives here if this isn’t getting fixed. (The streaming issue being referred here was tweeted on June 4, 2020): Jimeet Modi, CEO & Founder, Samco Ventures Pvt Ltd

    15:12 (IST)24 Feb 2021
    Why was the entire market shut just because index feeds were not refreshing?

    The biggest question in this whole issue is why was the entire market shut just because index feeds were not refreshing? Feeds for underlying contracts were fine and so was order matching, so why shut down the entire market? Jimeet Modi, CEO & Founder, Samco Ventures Pvt Ltd

    15:11 (IST)24 Feb 2021
    Nifty futures at 14,790 on Singaporean Exchange

    Nifty futures were trading 76 points or 0.52 per cent up at 14,790 on Singaporean Exchange, the level which is not very far from where NSE halted stock trading in F&O and cash market segment

    15:09 (IST)24 Feb 2021
    It’s time to consider alternatives such as extension or annulment

    There is once precedent of complete annulment of trades on Muhurat trading day on BSE F&O segment in 2011. Ideal situation is NSE is able to fix issues and reopen in time. Else it’s time to consider alternatives such as extension or annulment. Jimeet Modi, CEO & Founder, Samco Ventures Pvt Ltd

    15:08 (IST)24 Feb 2021
    To avoid systemic issues NSE must consider these 2 options

    NSE halted trading and no news on re-opening. To avoid systemic issues NSE must consider 2 options: (a) In case they are unable to reopen before 3:30, they should extend time for orderly closure of open positions. (b) If no extension, then all trades must be annulled. The markets must be given at least one hour of trading to deal with all open positions or trades: Jimeet Modi, CEO & Founder, Samco Ventures Pvt Ltd

    15:07 (IST)24 Feb 2021
    How much time will it take to restore systems: Govt

    Government asks how much time will it take to restore systems, Zee Business reports

    14:55 (IST)24 Feb 2021
    All MIS/CO F&O positions will get carried over to tomorrow, if NSE doesn't open

    If NSE doesn't open for the day, all MIS/CO F&O positions will get carried over to tomorrow with today's buy/sell entry price.: Nithin Kamath, Zerodha

    14:53 (IST)24 Feb 2021
    We will not be able to do anything with intraday F&O positions if NSE isn't back up

    Plan of action: If NSE isn't back up by 2.45 pm, we will block all new MIS & CO orders for the day and attempt to square off all equity MIS & CO positions on BSE. Unfortunately, we will not be able to do anything with intraday F&O positions if NSE isn't back up.: Zerodha

    14:52 (IST)24 Feb 2021
    BSE Sensex up half a per cent; no update on NSE reopening time

    S&P BSE Sensex was trading 243 points or 0.49 points up at 49,994 in the afternoon deals. It's been over three hours since NSE suspended trading in F&O and Cash segment.

    14:46 (IST)24 Feb 2021
    Trading will resume

    The trading will resume, but when we do not know. But if the trading resumes quite late and there is very little time, then logically the trading time should be extended.: JN Gupta, MD, Stakeholders Empowerment Services, Former ED, SEBI, tells CNBC TV18

    14:43 (IST)24 Feb 2021
    There can be some kind of small panic buying or selling for people who have executed the orders

    In my opinion, both the exchanges should have been shut. I don't think there would be in any settlement risk because if time gets extended, it will be extended for both the exchanges. I don't see any damage in terms of settlement risks. There can be some kind of small panic buying or selling for people who have executed the orders: Dinesh Thakkar, Chairman & MD, Angel Broking, tell CNBC TV 18

    14:30 (IST)24 Feb 2021
    NSE hasn't started the Disaster Recovery Site in Chennai

    Reports suggest that NSE has not started the Disaster Recovery Site in Chennai, nor the Near Site in Mumbai, brokers saying.

    14:28 (IST)24 Feb 2021
    Today's Asia market action is ugly: Shankar Sharma

    I am remembering today the Russian market shutdowns in 1998: Russian authorities would wait for Europe to open, see if markets were Green, if yes, open Russia for trading. Else keep it shut. Today's, Asia market action is ugly....: Shankar Sharma, VC and Joint MD at First Global, tweets

    14:25 (IST)24 Feb 2021
    Interoperability with BSE not working

    Interoperability with BSE not working, as the Clearing Corporation too not working today, brokers saying

    14:23 (IST)24 Feb 2021
    I don’t expect misprices to last long, if markets are not going to open today: Deepak Shenoy

    Given the current liquidity, I don’t expect misprices to last long, if markets are not going to open today, Deepak Shenoy, Founder Capitalmind, tells CNBC TV18

    14:21 (IST)24 Feb 2021
    Finance Ministry takes stock of NSE trading halt issue

    Finance Ministry is taking stock of the NSE trading halt issue; FinMinIndia  in touch with market regulator SEBI on NSE trading halt issue: ET Now cites govt sources as saying

    14:18 (IST)24 Feb 2021
    Cancelling pending orders seems the only option: Ashis Biswas, CapitalVia Global Research

    Nifty Index halted updating due to technical glitches. It is the rarest event when trading remains halted because of the reason that happened today. A backup platform should have been there to facilitate market opening much faster. We are waiting for the mechanism to understand how the pending order will adjust. Cancelling pending orders seems the only option, though. Ashis Biswas, Head of Technical Research at CapitalVia Global Research, to Financial Express Online

    14:03 (IST)24 Feb 2021
    No panic situation or a free fall in the markets

    It is just a technical glitch. I don’t see a big fall. There will be just small buying or selling for people who have executed the orders. I don’t see any panic situation or a free fall in the markets.: Dinesh Thakkar, Chairman & MD, Angel Broking, tells CNBC TV18

    14:01 (IST)24 Feb 2021
    Nifty stopped updating at 14,820; trading suspended for over 2 hours

    The broader Nifty 50 index frozen at 14,820.45-level up 112.65 points or 0.77 per cent. It's been over two hours now, since NSE suspended trading.

    13:57 (IST)24 Feb 2021
    With interoperability in place, you can place orders, trade in any exchange: Ajay Kedia, Kedia Capital

    With interoperability in place, you can place orders and trade in any exchange. You can trade or square off open positions at BSE smoothly.: Ajay Kedia, Director, Kedia Capital

    Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
    Next Stories
    1Global venture capital funding jump to USD 1.3 billion in Jan-Mar 2021: Report
    2Sensex, Nifty end in red; here’s what experts make of today’s trading session
    3Minebea Mitsumi settles takeover norms violation case with Sebi; pays Rs 17 lakh