Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices suffered huge losses on Wednesday dragging Nifty 50 below 17,560 and Sensex below 59,750. The Bank Nifty breached the crucial level and closed below 40000 as the negative global market sentiment triggered bloodbath on Dalal street. The Nifty 50 fell 272.40 pts or 1.53% to 17,554.30 and BSE Sensex tanked 927.74 pts or 1.53% to 59,744.98. The only gainers on the Nifty 50 were ITC (up 0.50%) and Bajaj Auto (up 0.26%) while Adani Enterprises (down 11.05%), Adani Ports (down 7.24%), Grasim (down 3.44%), Bajaj Finance (down 2.94%) and JSW Steel (down 2.79%) were the losers.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
The Bank Nifty breached the crucial level and closed below 40000 as the negative global market sentiment triggered the bloodbath on Dalal street. The banking index tanked 677.70 pts or 1.67% to close at 39,995.90.
The only gainers on the Nifty 50 were ITC (up 0.50%) and Bajaj Auto (up 0.26%) while Adani Enterprises
The Nifty 50 fell 272.40 pts or 1.53% to 17,554.30 and BSE Sensex tanked 927.74 pts or 1.53% to 59,744.98.
The trading hours for interest rate derivatives have been extended by the National Stock Exchange (NSE) until 5 pm, with effect from 23 February. NSE is also mulling increasing trading hours for the equity and equity derivatives segments as well, and is seeking feedback from members and traders, according to media reports. Some investors are in favour of the decision, but others are against it.
Shares of Adani Group firms fell sharply on Wednesday in line with an overall weak trend in the equity market. Adani Enterprises stock tumbled 9.31 per cent on the BSE. Shares of Adani Power declined 5 per cent, Adani Transmission fell 5 per cent, Adani Total Gas (5 per cent), Ambuja Cements (5 per cent) Adani Green Energy (4.99 per cent), Adani Wilmar (4.99 per cent) and NDTV (4.55 per cent).
ITI, Suryalakshmi Cotton Mills, Aaron Industries, IRB Infrastructure Developers, Cheviot Company, IFB Industries, Johnson Controls – Hitachi Air Conditioning India, Manaksia Steels, Asahi Songwon Colors, Delhivery, Wockhardt are among the volume gainers on the NSE index.
Alternatively, 183 stocks including V-Mart Retail, Venky’s (India), Bata India, Shaily Engineering Plastics, Sheela Foam, Godrej Properties, Tide Water Oil Company (India), Adani Total Gas, IPCA Laboratories, Adani Transmission, India Motor Parts and Accessories, Motilal Oswal Financial Services, Amrutanjan Health Care, Century Textiles & Industries, Seamec, Adani Green Energy, Jindal Poly Films, BSE, Paras Defence and Space Technologies, GKW, Godrej Agrove, Olectra Greentech, Aarti Drugs
On the NSE Nifty, 28 stocks hit their 52 week highs including Cera Sanitaryware, ION Exchange (India), Siemens, Blue Star, MPS, Cyient, Kaynes Technology India, Uniparts India, Focus Lighting and Fixtures, Universal Cables, Fourth Dimension Solutions, Aaron Industries, Vinny Overseas, Jindal Stainless, Jindal Saw among others.
71 stocks hit their lower price band including Adani Power, Adani Green Energy, Adani Total Gas, Adani Wilmar, NDTV, Focus Lighting and Fixtures, DB Realty, SVP Global Textiles. Additionally, 22 scrips hit both bands.
On the NSE Nifty, 33 stocks hit their upper price band. NMDC Steel, Nintec Systems, Sanghi Industries, Vinny Overseas, Fourth Dimension Solutions, Eros International Media, Kingfa Science & Technology (India), Aaron Industries were among the scrips.
On the NSE Nifty index, the top winners are Divi’s Lab, ITC, Bajaj Auto, Cipla with Divi’s Lab up 0.4%. The biggest laggards are Adani Enterprises, Adani Ports, Grasim, JSW Steel, Bajaj Finance, with Adani Enterprises down 10.2%.
Adani Enterprises, Reliance Industries, ICICI Bank, HDFC, HDFC Bank are the most active Nifty 50 stocks intraday.
Adani Group shares have lost in just 30 days more than what the Indian government plans to spend on capital expenditure over the full financial year 2023-24. Adani Enterprises, Adani Green Energy, Adani Ports, Adani Power, Adani Total Gas, Adani Transmission, Adani Wilmar, Ambuja Cements and ACC
Wall Street tumbled sharply overnight on Wednesday, as all three major indexes ended lower, led by selloffs in technology, consumer discretionary, industrials and financial stocks. The Dow Jones Industrial Average fell 2.06%, the S&P 500 lost 2.01% and the Nasdaq Composite dropped 2.5% as sentiments soured on S&P Global’s PMI data. Business activity in the U.S. rebounded sharply, touching an eight-month high, which sent fears of further rate hikes soaring.
“With oscillators approaching oversold territory, our downside marker of 17750 that has held so far may be expected to attract bargain buying, but a vertical bounce back is less expected. In the event of a downside break, we may expect 17580 to offer a pause, with the technical construct not yet providing for a collapse to 17300 and beyond,” said Anand James, Chief Market Strategist at Geojit Financial Services.
Investors are waiting for RBI MPC and FOMC minutes which will be published later today. “Underpinned by inflationary concerns, the market is keenly eyeing the US fed meeting minutes, scheduled to be released today, for hints on further monetary policy tightening.”
“Nifty should hold the level of 17650 intraday, however if broken, more selling is likely to continue in the coming days. Bank Nifty still remains on the weaker side as the support remains at the 40000-39800 zone. As the monthly expiry approaches the market would remain more volatile,” Om Mehra, Equity Research Analyst at Choice Broking.
Domestic equity indices fell nearly 1% on Wednesday, as the market sentiment remained negative, fearing further US Fed rate hikes. The NSE Nifty 50 tanked 184.55 pts or 1.04% to 17,642.15 and the 30-share BSE Sensex fell 603 pts or 1% to 60,069. All the broader market and sectoral indices were trading in red, except Nifty Pharma. Bank Nifty plunged 474.20 pts or 1.17% to 40,199.40 while Nifty IT sank 218 pts or 0.71% to 30,728.60.
Here are the reasons why the Nifty and Sensex are falling today.
The top gainers on Nifty were Coal India, Hindalco, Britannia, Tata Steel and Apollo Hospital while the losers were Tech Mahindra, Mahindra & Mahindra, Infosys, HCL Tech and Wipro.
The BSE Sensex fell 290.35 pts or 0.48% to 60,382.37 and NSE Nifty 50 plunged 68.20 pts or 0.38% to 17,758.50.
Domestic indices ended the pre-opening session in the red territory. The NSE Nifty 50 fell 71.35 pts or 0.40% to 17,755.35 and BSE Sensex tanked 280.86 pts or 0.46% to 60,391.86.
“All US market Indexes were dragged down by more than 2 percent each as interest rates likely to stay higher for longer to control inflation. The market is set to open in the red, as patterns in the SGX Nifty point to a poor start for India's wider index, with a loss of 65 points. India VIX likely to shoot up as sentiments turned negative globally. Nifty should hold up the levels 17650 intraday however if broken more selling is likely to continue in the coming days. Bank nifty still remains on weaker side as the support remains at 40000-39800 zone. As the monthly expiry approaches the market would remain more volatile.” – Om Mehra, Equity Research Analyst, Choice Broking.
The Nifty futures on the Singaporean exchanges were trading 68 pts or 0.38% lower at 17,777.00 in the early morning trade.
The US markets ended Tuesday’s session broadly lower with Dow Jones Industrial Average tanking 697.01 pts or 2.06% to 33,129.59, tech-heavy Nasdaq sank 294.97 pts or 2.50% to 11,492.30 and S&P 500 plunged 81.75 pts or 2% to 3,997.34.
All major Asian markets were trading in red with China’s Shanghai Composite index falling 0.40%, Japan’s Nikkei 225 sinking 1.49%, Hong Kong’s Hang Seng slipping 0.49% and South Korea’s KOSPI dipping 1.47%.