Share Market HIGHLIGHTS: Sensex reclaims 51000, ends over 600 pts from day’s low, Nifty just below 15,100

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Updated: March 9, 2021 4:21:22 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended over 1% higher on Tuesday.

Share Market Today, Share Market LiveNifty Metal index lost 2.5 per cent while Nifty Financial Services gained 2.24 per cent. Image: Reuters

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended over 1 per cent higher on Tuesday, mainly driven by buying in banking and financial stocks. BSE Sensex jumped 584 points or 1.16 per cent to end at 51,025, while the NSE’s Nifty ended 142 points or 0.95 per cent at 15,098. Kotak Mahindra Bank, HDFC Bank, Tech Mahindra, Housing Development Finance Corporation (HDFC), ICICI Bank, Bajaj Finance, Asian Paints, TCS, HCL Technologies, were among top index gainers. On the contrary, Power Grid Corporation of India, ONGC, NTPC, Bharti Airtel, State Bank of India (SBI) were among top Sensex laggards. Nifty Metal index lost 2.5 per cent while Nifty Financial Services gained 2.24 per cent.

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    15:49 (IST)09 Mar 2021
    Nifty fails to get past 15,300

    The market has continued being sluggish! We have not been successful in getting past the 15300 which is the upper end of the Nifty's current trading range. Neither have we broken down. This is a classic case of range bound movement where the index is taking time to decide on its next course of direction. Until one end of the range is taken out, patience would be the best virtue to exercise as any hasty decision could result in stops being triggered.: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    15:37 (IST)09 Mar 2021
    BSE Sensex jumps 584 points, reclaims 51,000

    BSE Sensex jumped 584 points or 1.16 per cent to 51,025, while the NSE's Nifty ended just below 15,100

    15:22 (IST)09 Mar 2021
    Sensex jumps 600 points, Nifty above 15,150

    BSE Sensex jumped 627 points or 1.24 per cent to 51,069, while the NSE's Nifty topped 15,150.

    15:01 (IST)09 Mar 2021
    Should retail investors apply for Easy Trip Planners IPO for short-term?

    We are expecting a very good listing for this IPO, we suggest retail investors to apply for this IPO for long term as well as for listing gains also. Retail investors can expect a listing gain of 50%-75%. Based on FY2020 the IPO is priced at a PE of 58x at the upper end of the price band along with a very good ROE of 34% and ROCE of 35%. The company has the potential to grow exponentially in near future. Looking at the company performance in FY 2020 and strong balance sheet is given that we have certain concerns regarding competition in this business we are assigning a “SUBSCRIBE” recommendation to the issue.: Yash Gupta Equity Research Associate, Angel Broking Ltd.

    14:37 (IST)09 Mar 2021
    Rupee may hit 74.5 in medium term; USD-INR volatility jumps, Dollar index repeats 2018 performance

    The US dollar, being a fiat currency, has its own significance across the globe. The higher liquidity of the US dollar is supportive for the equity, whereas shortage creates havoc in the market. As we know that intermarket analysis plays a vital role, the formulas between two currencies are not only dependent on two country’s economic performance but also on other countries too.

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    13:59 (IST)09 Mar 2021
    Motilal Oswal Asset Management Company on AMFI Data

    Trend is similar to January 2021, pure equity net negative by 10k cr led by profit booking or get re-allocation to alternate investment avenues like real estate / direct equity or IPO’s. It is good to see positive flows in the dynamic / BAF category, this is a good category in current times where the asset allocation model rebalance portfolios between equities an cash using valuation models. Some meaningful consolidation of markets could lead investors to come back and make fresh allocations at some stage, there is general worry on valuations and the current rally possibly unreal and therefore investors seem to be trying to time in some way. First few days march look slightly better with the redemption velocity coming down, but need to wait for how it plays through the month.: Akhil Chaturvedi, Head of Sales & Distribution, Motilal Oswal Asset Management Company

    13:57 (IST)09 Mar 2021
    Maharashtra govt announces 1% concession in stamp duty for women

    With the coinciding of the Maharashtra Government budget announcement and International Women's Day, it was only fitting that some special announcements were made to further empower women. They have announced that Stamp duty will be relaxed by 1% if the house is registered in the name of a woman. The majority of women are buying homes now not only as an investment but also for financial security. This step by the government ratifies their support towards female homebuyers. It will also help provide security to dependent women as more men will buy houses in the name of the women in their family.: Ram Raheja, Director at S Raheja Realty

    12:51 (IST)09 Mar 2021
    Sensex, Nifty trade range bound

    BSE Sensex was trading 241 points or 0.48 per cent higher at 50,682, while the broader Nifty 50 index gained 63 points or 0.42 per cent to 15,018 

    12:23 (IST)09 Mar 2021
    Laxmi Organic Industries PE stands at 32x

    At the price of Rs 130 the annualised PE based on HY21 EPS comes to around 32. Comparing with other peers the issue looks moderately priced. 1/4th of the revenues of the company comes from exports which may boost going ahead owing to the China+1 strategy which would be likely adopted by global players. Diversified client base, capacity expansion, quality management, long term relationship with leading pharma companies and well-diversified product portfolio makes the company attractive. Also, the ongoing dream run in primary markets should be favourable for the company.: Abhay Doshi, Founder, UnlistedArena.com, dealing in Pre-IPO & Unlisted Shares

    12:21 (IST)09 Mar 2021
    Anupam Rasayan IPO: Avoid subscribing this issue

    Also, the preferential allotment was done at Rs 250 on October 17, 2020, then at Rs 197 on November 04, 2020. Again nothing had changed in 18 days for the preference price to fall 20%. Taking all of the above into account we have an ‘Avoid’ on the IPO: Aditya Kondawar, Founder and COO, JST Investments

    12:20 (IST)09 Mar 2021
    Anupam Rasayan IPO priced at 69x PE

    At the upper price band of Rs 555, the issue is priced at a 69x P/E and 5.8x P/BV. Annualizing the 9MFY21 sales, the company is coming at 7.5x Price to sales. The valuations are astronomical. The biggest concern for us is that the investor turned Promoter Group (KPI LLC) did a preferential allotment at Rs 197 in Nov 2020. Fast forward 4 months the IPO is coming at an issue price of Rs 555. What really changed in 4 months that the per-share price went up 2.8x? Nothing really changed in 4 months – so the price increase in the share doesn’t make any sense at all.: Aditya Kondawar, Founder and COO, JST Investments

    12:18 (IST)09 Mar 2021
    Should you subscribe to Laxmi Organic industries IPO?

    Diverse customer base, global footprint, in house R&D, vertical integration and supply chain efficiencies are the key strengths of the company which are turning the prospects positive. Considering the favorable outlook for the chemical sector in the upcoming period one can subscribe to Laxmi Organic issue with a medium to long term perspective.: Likhita Chepa, Senior Analyst, CapitalVia Global Research Limited

    12:11 (IST)09 Mar 2021
    Nifty remains in uptrend in medium and long term

    Derivative data suggests that 15100-15200 is likely to act as stiff resistance for the current weekly expiry. PE writers are active on 15000-14900 strikes which are likely to act as support for weekly expiry. Nifty continues to remain in an uptrend in the medium and long term, so buying on dips continues to be our preferred strategy.: Rajesh Palviya, Head – Technical & Derivatives Research, Axis Securities Ltd

    12:08 (IST)09 Mar 2021
    If Nifty holds 15,100, it may move towards 15,300

    Nifty is in consolidating range of 14800-15200 since last 4-5 trading sessions. The chart pattern suggests that if Nifty breaks and sustains above 15100 then it would witness fresh buying action which could lead Nifty towards 15200-15300, however, if Nifty breaks below 14900 level it would witness selling which would lead the index towards 14800-14700 levels. Nifty is trading above 20 and 50 day SMA's indicating positive bias in the short to medium term.: Rajesh Palviya, Head – Technical & Derivatives Research, Axis Securities Ltd

    12:06 (IST)09 Mar 2021
    Weekly expiry likely to witness volatility, Nifty seen between 14800-15200

    Markets are witnessing choppy trading for the past few sessions, with bulls and bears fighting it out for control. Positive global triggers have supported the overall trend, however, India VIX, the volatility indicator, has risen from the recent lows of 20, indicating marginal increase in investor concern. Overall, the expiry is likely to witness enhanced volatility, with a broader-range for Nifty seen between 14800 – 15200 for the current weekly expiry. Maximum OI for the weekly series is seen at 15100 CE & 15000 PE: Aamar Deo Singh, Head, Advisory at Angel Broking

    11:51 (IST)09 Mar 2021
    Nifty 50 trapped in range of 14,900-15,200

    Global bourses are showing strength since the last couple of days and hence, our market is refusing to correct. But at the same time, FIIs have started some selling which is not letting our market breakout in the upward direction. Basically, we are trapped in a range of 14900-15200. So, if there is no major action in global markets for next two days, then expiry is likely to pan out somewhere in the range of 14950-15150: Sameet Chavan, Chief Technical Analyst, Angel Broking

    11:46 (IST)09 Mar 2021
    MTAR Tech IPO subscribed 201 times; bumper listing on cards

    The MTAR stock is expected to be listed on the exchanges on the 16th of March and if grey market premiums are anything to go by then it is going to be nothing short of a bumper listing. One of the reasons for the expected bumper listing is that it is one of a kind company with no comparable peers. The company caters to marquee clients like ISRO, DRDO, NPCIL, Bloom Energy and Rafaeland is uniquely positioned to benefit from the Government’s focus on the defence sector and make in India initiative. We are positive on the long-term prospects of the company.: Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd

    11:38 (IST)09 Mar 2021
    BSE Sensex, Nifty may remain rangebound ahead of weekly expiry tomorrow

    BSE Sensex and Nifty 50 may remain range-bound. With weekly expiry tomorrow instead of Thursday, the index may stay range-bound as per options data. 15k has maximum put OI whereas 15100 has max Call OI. So, unless there are any other cues to deal with, we may stay largely range-bound: Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder of Gemstone Equity Research & Advisory Services

    11:36 (IST)09 Mar 2021
    Craftsman Automation IPO opens March 15; check issue size, price band, other details

    Craftsman Automation Ltd Rs 824- crore IPO (initial public offering) will open for subscription on March 15, 2021. The company has fixed price band at Rs 1,488-1,490 per share of face value of Rs 5 each. The public issue comprises a fresh issue of equity shares worth Rs 150 crore and offer-for-sale (OFS) of up to 45.21 lakh equity shares by promoters and existing shareholders.

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    10:13 (IST)09 Mar 2021
    Near-term range of Rupee will be within 72.80-74

    Major Emerging market currencies have weakened due to dollar rebound and sustainable rise in US yields above 1.5%. If it continues, it will further add pressure to global equities and riskier currencies as the flight of capital will take off towards the US dollar. Seeing the global sell-off in equities, the domestic market also witnessed FII outflows of nearly $1.03bn in March, thereby pressuring USDINR pair. So far, the Rupee has been backed by inflows on account of various IPO’s, stake sale and bond issues. However, depreciation seems steady and overall the near term range shall be within 72.80-74.00 levels.: Amit Pabari, managing director, CR Forex Advisors

    09:52 (IST)09 Mar 2021
    MTAR Tech IPO: Check share allotment status via BSE, registrar’s website; grey market premium, listing date

    MTAR Technologies Rs 596-crore initial public offering (IPO), which was subscribed a massive 201 times, will finalise the basis of the allotment of the IPO on Wednesday, March 10, 2021. The public issue received a robust response from investors across all categories with qualified institutional buyers (QIBs) subscribing their portion 165 times. Non-institutional investors subscribed their reserved portion 651 times and retail individual investors (RIIs) 28 times. In the grey market on Tuesday, MTAR Technologies shares were seen trading with a premium of Rs 505 per share over the IPO price.

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    09:44 (IST)09 Mar 2021
    If Nifty achieves 15,300, it may then touch 15,500

    We are treading towards the upper end of the Nifty range which is 15300. If we get past that, we would be out of the choppy zone and can then aim at achieving 15500-15600 on the index. Until then we will be stuck in this band between 14800-15300. A good support lies at 14800 and as long as that is not violated, the overall trend continues to remain bullish.: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    09:33 (IST)09 Mar 2021
    BSE Sensex, Nifty likely to consolidate

    As of now, markets have shrugged off the initial scare triggered by the rising bond yields. Bulls are back in action in the mother market US. But in India continuous FII selling is preventing the markets from scaling new highs. Markets are likely to consolidate. Investors may utilize dips to buy high-quality names in private sector banking, insurance, IT, cement and autos. For mid-  small-caps, there is more room to appreciate.: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

    09:29 (IST)09 Mar 2021
    HDFC twins, RIL top Sensex contributors

    Index heavyweights such as HDFC Bank, Housing Development Finance Corporation, ICICI Bank, Reliance Industries Ltd (RIL) and Axis Bank were among top index contributors.

    09:28 (IST)09 Mar 2021
    ONGC top Sensex laggard

    ONGC, Power Grid Corporation of India and Infosys were the only losers on the BSE Sensex index.

    09:27 (IST)09 Mar 2021
    Nifty Bank index jumps 500 points

    All the Nifty sectoral indices were trading in the positive territory. Nifty Bank index jumped 500 points or 1.63 per cent, while Nifty Financial Services surged 1.77 per cent.

    09:23 (IST)09 Mar 2021
    UltraTech Cement, HDFC Bank top BSE Sensex gainers

    Top BSE Sensex gainers were UltraTech Cement, HDFC Bank, Axis Bank, Bajaj Finance, ICICI Bank, IndusInd Bank and Housing Development Finance Corporation.

    09:21 (IST)09 Mar 2021
    Sensex crosses 50,900, Nifty back above 15,100

    BSE Sensex jumped over 450 points or 0.89 per cent to 50,941, while the broader Nifty 50 index surged 141 points or 0.94 per cent to 15,100 on Tuesday.

    Check live Sensex, Nifty levels

    09:11 (IST)09 Mar 2021
    Gold trades near June 2020 lows

    COMEX gold trades mixed near $1687/oz after a 1.2% decline yesterday. Gold trades near June 2020 lows weighed down by firmness in US dollar, higher bond yields and continuing ETF outflows. However, supporting price is progress on US stimulus and increased inflation expectations and geopolitical tensions. Gold may remain under pressure unless there is a major correction in US dollar index or bond yields: Ravindra Rao, VP- Head Commodity Research at Kotak Securities

    09:05 (IST)09 Mar 2021
    Sensex jumps over 100 pts in pre-open

    BSE Sensex jumped over 100 points or 0.26 per cent to 50,573 in the pre-opening session on Tuesday.

    Check live Sensex, Nifty levels

    08:47 (IST)09 Mar 2021
    Is Nifty50 in consolidation mode?

    The Nifty is in consolidation mode. Further directional cues are likely to emerge on a move beyond the 14862-15111 range. A close below 14862 is likely to lead to a correction towards the 50 day SMA which is currently at 14610. On the upside, crucial resistances to watch for signs of strength are at 15203.: Subash Gangadharan, Senior Technical & Derivative Analyst, HDFC Securities

    08:45 (IST)09 Mar 2021
    18 of 23 IPOs so far this year post first-day gains

    Despite Covid-19 disruptions hitting businesses globally, Primary markets in India witnessed strong activity in the ongoing financial year 2021. Typically, IPO listings depend on the secondary markets and as a matter of fact, there were no new IPO launches or stock market listings in the first half but the second half of the financial year rewarded investors as equities made a resounding recovery. According to Prime Database, eighteen of the 23 IPOs so far this year saw first-day gains. That represents 78% of the total stock listings in the financial year 2021 as compared to only 69.23% of the total 13 IPOs in the financial year 2020 and 53.3% of the 15 IPOs in financial year 2019 saw listing gains.: Vaibhav Agrawal, Chief Investment Officer, Teji Mandi

    08:43 (IST)09 Mar 2021
    MCX gold, silver may start weak on Tuesday

    Domestic gold and silver prices could start lower this Tuesday morning tracking overseas prices. Technically, MCX Gold April could see a downside pressure up to 43990-43750 levels. Resistance is at 44340-44560 levels. Technically, If MCX Silver May trades below 66000 levels, we could witness the Bearish momentum to continue up to 65100-64300 levels. Resistance is at 66400-67230 levels. MCXBULLDEX March could trade within the range of 13920-14150 levels.: Sriram Iyer, Senior Research Analyst at Reliance Securities

    08:42 (IST)09 Mar 2021
    International gold prices fall on Monday to a 9-month low

    International gold prices fell on Monday to a nine-month low, as the dollar and U.S. Treasury yields kept rising, prompting investors to dump the non-yielding metal. Domestic gold fell on Monday, while silver ended with small gains on Monday tracking overseas prices. The dollar climbed to a three-month peak, while the U.S. 10-year Treasury yield held near a more than one-year high on Monday. Meanwhile, the U.S. House of Representatives will take up by Wednesday the Senate version of the coronavirus relief package. Reflecting investor sentiments, SPDR Gold Trust ETF holdings fell 0.5% to 1,063.43 tonnes on Monday from 1,069.26 tonnes on Friday.: Sriram Iyer, Senior Research Analyst at Reliance Securities

    08:40 (IST)09 Mar 2021
    Stocks in focus: BPCL, Coal India, SBI Cards and Payment Services, Tata Motors, Wipro, PSP Projects

    Nifty futures were trading 89 points or 0.59 per cent up at 15,071 on Singaporean Exchange in early trade on Tuesday, indicating a gap-up opening for BSE Sensex and Nifty 50. In the previous session, NSE’s Nifty failed to hold the 15,000 mark on closing. According to a technical analyst, markets may fall further until indices cross 15280/51540 levels.

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    08:17 (IST)09 Mar 2021
    Asian stock markets trade weak on Tuesday

    Asian stock markets were trading lower on Tuesday. Japan’s Nikkei 225 index dropped 0.09 per cent. South Korean shares too fell sharply, with the Kospi down 1.98 per cent.

    08:06 (IST)09 Mar 2021
    FPIs buy stocks worth $750 million in Indian share market so far in March

    Foreign portfolio investors bought stocks worth $750.02 million in March so far. On Friday, they sold stocks worth $246.9 million. The flows from foreign portfolio investors have been impacted on account of increased volatility in the stock markets after bond yields globally have started seeing a spike. This is unlikely to trigger a huge selloff in the Indian markets, according to experts.

    08:04 (IST)09 Mar 2021
    Nifty futures gain 52 points in early on Tuesday

    Nifty futures were trading 52 points or 0.35 per cent up at 15,034 on Singaporean Exchange, indicating a gap-up opening for BSE Sensex and Nifty 50 on Tuesday.

    08:03 (IST)09 Mar 2021
    Sensex, Nifty end flat on Monday, follow weak Asian cues

    The markets on Monday ended marginally higher after stocks pared their gains because of weak cues from the Asian markets. The rise of crude oil prices after geopolitical tensions in the Gulf also made investors dump risky assets. The Nifty rose 18.1 points (0.12%) to close at 14,956.2 while the Sensex gained 35.75 points (0.07%) to 50,441.07.

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    08:02 (IST)09 Mar 2021
    Oil above $70 to force cut in auto fuel taxes

    The Centre may no longer be able to postpone a cut in auto fuel taxes with the Brent crude surging more than 2% on Monday to approach $71/barrel, following a missile attack on Saudi Aramco’s facilities and improved outlook on the recovery of the global economy.

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