Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmarks indices BSE Sensex and Nifty 50 gave up initial gains in a highly volatile session to end in the red as investors globally turned cautious on updates about the Russia-Ukraine war. Gains in metal and pharma shares were offset by losses in financial stocks. While BSE Sensex ended 571 points or 1% lower at 57,292, Nifty settled 169 points down at 17,115. Bank Nifty ended the day 410 points or 1.13% lower at 36,018. Sectorally, auto, banks, realty and power shed over 1% each while buying was seeing in metal names. The midcap index shed half a percent while the smallcap index added over 0.5 per cent.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates March 21 Monday
Benchmark indices ended deep in the red amid volatility. Sensex fell 571.44 points or 0.99% at 57292.49, and the Nifty was down 69.40 points or 0.98% at 17117.60. Only four out of thirty Sensex constituents managed to end in the green. HDFC Bank, Sun Pharma, NTPC and Titan were the top gainers while Powergrid, Ultratech Cement, Asian Paints, HUL and Nestle India were the top losers.
The volatility bounced back as oil prices gained strength again amid fear of tight supply and ongoing Ukraine-Russia war. India VIX, the fear index rallied by 9 per cent to 24.7 levels. Volatility needs to fall below 20 mark for stability in the market, according to experts.
The BSE Smallcap index outperformed benchmark Sensex, gaining 0.4 per cent. APL Apollo, Linde India, Tata Teleservices, NALCO, and Solar Industries were top gainers among smallcaps, up 5-9 per cent.
“Indian markets opened mixed following muted Asian market cues as rising oil prices and continued Ukraine crisis kept investors on edge. During the afternoon session markets continued their weak trade as selling in frontline blue chip counters. Traders were also worried as India's foreign exchange (forex) reserves declined by $9.646 billion to $622.275 billion in the week ended March 11, the sharpest decline in nearly two years.”
~ Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers
“Market Breadth indicating that we may test 17,000 tomorrow. Best to stay light on longs. Nifty Puts can be carried for BTST,” said Rahul Sharma, Director & Head – Research, JM Financial.
Maruti Suzuki India was the top Sensex gainer, up 0.96%, followed by Sun Pharma, Tata Steel, HDFC Bank, Titan, and ITC.
Sensex and Nifty 50 gave up initial gains in a choppy session on Monday as investors globally turned cautious on updates about the Russia-Ukraine war. Gains in metal and pharma shares were offset by losses in financial stocks.
TTK Healthcare shares up 10.7 percent at Rs 894.4, having surged as much as 20 percent to Rs 969.8 earlier in the day. This comes after the board approved sale of human pharma division of for Rs 805 crore.
Ruchi Soya shares fell over 10% to Rs 831 after the firm announced its follow-on public offering price at a 35% discount from its previous close. The firm set a price band of Rs 615-650 a share. “It has a strong backup from the Patanjali group and we are seeing a turnaround in the company where it managed to turn profitable. It has a strong product portfolio and is one of the largest fully integrated edible oil refining companies in India,” said Aayush Agrawal, Senior Analyst, Swastika Investmart Ltd.
“If we look at the valuations then the stock is trading with a PE of around 32 which is lower than the industry average. Patanjali group wants to make this FPO successful so that they can come out with more FPOs successfully whereas they are also likely to come out with IPOs of their other segments. We have a neutral rating for this FPO however aggressive investors can apply for long term,” he added.
Broader markets outperformed benchmark indices in highly volatile session. India VIX climbed nearly 8%.
Sensex is down 531.70 points or 0.92% at 57332.23, and the Nifty fell 150.10 points or 0.87% at 17136.90.
With a hotter summer expected this year, the writing is on the wall for consumer stocks from the air conditioning and other related industries. Analysts at ICICI Direct have picked three stocks that can gain in summers this time around and are also seen favourable on charts. “Consumption discretionary stocks have undergone a decent price/time correction over the past few months. Within the discretionary space, stocks in the air-conditioning segment look relatively better placed on technical charts and relative strength rankings, despite recent volatility in commodity prices,” ICICI Direct said. The brokerage firm has picked Havells India, Voltas, and Amber Enterprises as preferred stocks.
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Benchmark indices slipped further into the red in noon deals. While, Sensex is down 531.70 points or 0.92% at 57332.23, Nifty 50 fell 150.10 points or 0.87% at 17136.90.
While bank, capital goods, FMCG, oil & gas and power indices are trading lower, buying is seen in the pharma and metal names.
Dodla Dairy share price surged more than 19 percent intraday on March 21 following the acquisition of Sri Krishna Milks. The Hyderabad-based dairy company said it has acquired Karnataka-based Sri Krishna Milks for Rs 50 crore to expand its business.
Life Insurance Corporation of India has filed an updated draft red herring prospectus with the capital markets regulator SEBI, according to a CNBC-TV18 report. In the draft papers for its much awaited IPO, the largest in the country, LIC has updated it with December financials, the report added, citing a government official.
The metal index trading near day's high, with Vedanta, Nalco and Coal India rising around 5-7 per cent.
BFSI pack remained weak. SBI, SBI Life were down 2%, ICICI Bank, Axis 1% HDFC Bank share price bucks the trend with a gain of 0.6%. The banking index was down over 1% dragged by Bandhan Bank, SBI, IndusInd Bank, Axis Bank and ICICI Bank.
Benchmark indices were trading near the day's low level amid volatility dragged by the power, FMCG and banking names The Sensex was down 212.51 points or 0.37% at 57651.42, and the Nifty was down 57.20 points or 0.33% at 17229.80.
Kotak Mahindra Bank today appointed Amit Desai as an Additional Director (Non-Executive) of the bank, with effect from March 18, 2022, subject to the approval of the shareholders. Kotak Mahindra Bank was quoting at Rs 1,790.80, down Rs 28.45, or 1.56 per cent on the BSE
BSE Power index fell 1 perc ent dragged by the Adani Transmission, Power Grid, Adani Green stocks.
Asian Granito India has filed draft papers for rights issue of equity shares to raise up to Rs 500 crore. The company has lined up Mega Expansion Plan in Value Added Luxury Surfaces & Bathware Segments such as GVT Tiles, Sanitaryware and SPC Flooring segments through setting up new state-of-the-art manufacturing facilities at Morbi, Gujarat, under newly incorporated wholly owned subsidiaries. Asian Granito India was quoting at Rs 110.30, up Rs 2.30, or 2.13 per cent on the BSE.
Sensex and Nifty were trimming their losses on Monday morning but still trading in the red. Sensex regained 57,800 while Nifty 50 was above 17,250.
Sintext share price was down 5% on Monday morning after the committee of creditors’ approved Reliance Industries' bid for the company.
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India VIX, the volatility index, has soared more than 5% on Monday morning to near 24 levels.
Nykaa share price is expected to zoom as much as 53% from today’s low, according to analysts at global brokerage firm Jefferies. Nykaa shares have slumped more than 26% so far this year to now trade at Rs 1,500 per share. Analysts at Jefferies believe that Nykaa is a unique combination of growth and profitability as the brokerage firm initiates the coverage of the stock. Internet stocks have so far this year faced the wrath of bears not just on Dalal Street but across the globe. Questions around valuations of internet companies remain, however, Nykaa’s leadership positioning in the online beauty space, makes it a favourable bet.
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Rupee opened 28 paise lower at 76.08 per dollar on Monday against previous close of 75.80. The rupee is expected to depreciate today amid firm dollar. Further, rising crude oil prices will weigh on the rupee, said ICICI Direct. However, optimistic sentiments in the domestic markets will continue to support the rupee. Additionally, investors will remain cautious ahead of US Fed Powell speech. USDINR (March) is expected to rise towards 76.30 for the day, it added.
Dodla Dairy share price surged 14% to Rs 526 on the BSE after the company announced acquisition of dairy products company Sri Krishna Milks Private Limited (SKMPL) for Rs 50 crore.
Ruchi Soya shares fell 10% to Rs 923 after the firm announced its follow-on public offering price at a 35% discount from its previous close. The firm set a price band of Rs 615-650 a share.
Benchmark indices were trading lower in the volatile session. Sensex was down 199.23 points or 0.34% at 57664.70, and the Nifty 50 was down 47.60 points or 0.28% at 17239.40.
Buying is seen in the metal, auto, capital goods, IT and realty, while selling is seen in the bank, power and FMCG names. BSE midcap and smallcap indices are trading in the green.