Market HIGHLIGHTS: Sensex fails to hold 51,000, ends 600 pts down, Nifty below 15,100; India VIX surges 9%

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Updated: March 4, 2021 4:25:54 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended over one per cent down on Thursday. India VIX was up over 9%

Share Market Today, Share Market LiveBarring Nifty Media and Nifty Realty indices, all the sectoral indices finished trade in the negative territory. Image: Reuters

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended over one per cent lower on Thursday, mainly on weak global cues. The 30-share Sensex tumbled 599 points or 1.16 per cent to end at 50,846, while the broader Nifty 50 index ended 165 points or 1.08 per cent down at 15,081. Out of 30 Sensex stocks, 25 stocks ended deep in red, with Housing Development Finance Corporation (HDFC) as the top index loser. Bajaj Finsv, L&T, State Bank of India (SBI), Axis Bank, HDFC Bank and ICICI Bank were among other laggards. Only five stocks UltraTech Cement, Dr Reddy’s Laboratories, Asian Paint, Hindustan Unilever Ltd (HUL) and Maruti Suzuki ended with gains. Barring Nifty Media and Nifty Realty indices, all the sectoral indices finished trade in the negative territory.

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    16:06 (IST)04 Mar 2021
    Sensex to surge another 15%, touch 58,450, says Julius Baer; upgrades India to ‘overweight’ 

    Global investment bank Julius Baer has upgraded Indian share markets to 'overweight', with the worst of the coronavirus pandemic seemingly over, the vaccine drive being expanded, and economic recovery taking shape. In a recent report, Mark Matthews, Head of Research Asia, Julius Baer said that India could become the fastest-growing major economy in 2021, forecasting India’s GDP to grow 9% on-year in 2021. “We change our stance on India from market-weight to overweight and see 15% upside from current levels with a Sensex price target of 58,450,” he added.

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    15:43 (IST)04 Mar 2021
    Midcaps, smallcaps outperform Sensex, Nifty

    Domestic equities traded lower today mainly on weak global cues. However, benchmark index Nifty witnessed recovery in losses after slipping below 15,000 levels during initial hours of trading. Financials and Metals indices were keg drags today, while FMCG, Pharma and IT indices were resilient. A sharp 6bps rise in 10-Year USA treasury yield made investors jittery today. Notably, volatility index soared over 6% today indicating some uneasiness at these levels. However, midcap and small-cap indices ended in green today and outperformed benchmark index once again mainly led by strong visibility of corporate earnings rebound.: Binod Modi, Head Strategy at Reliance Securities

    15:40 (IST)04 Mar 2021
    Sensex snaps three-day rally; tumbles 600 pts

    BSE Sensex tumbled 599 points or 1.16 per cent to end at 50,846, while the broader Nifty 50 index ended 165 points or 1.08 per cent down at 15,081.

    15:38 (IST)04 Mar 2021
    Nifty can still go higher and achieve 15400 target

    The Nifty made some recovery post the gap down opening. The overall trend remains positive as we have not broken the support of 14600-14700. The index still has wings to go higher and achieve targets closer to 15400-15500. Traders can utilize corrections like today's to accumulate long positions.: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    15:31 (IST)04 Mar 2021
    Nifty 50 likely to range between 15,050 and 15,250

    The market witnessed some swift recovery from its short-term support around the Nifty50 Index level of 15000 in the market. The expected level should range between 15050 and 15250, and it’s going to crucial for the short-term market scenario to stay above the 15050 levels. While it is subject to further price action evolution, it is prudent to wait for a decisive breakout above 15250 and technical factors to improve before going long in the market. the traders to refrain from building a new buying position until further improvement.: Ashis Biswas, Head of Technical Research at CapitalVia Global Research Limited

    15:22 (IST)04 Mar 2021
    IRCTC stock trades at high valuations

    "Further, the hopes of a quicker vaccine rollout has also boosted prospects for the stock. The prospects of the company look good. However, the stock is already trading at very high valuations, and above its consensus price target of around Rs 1,900. It would be prudent to wait for a better entry price," analysts at INDmoney said.

    15:20 (IST)04 Mar 2021
    What's fueling up move in IRCTC stocks?

    "Over the last few days, IRCTC shares have seen a very good rally on the back of various positive developments in the company. The share of e-booking in total ticketing has gone up to close to 92% from 75% pre-Covid. The pandemic has forced customers to move to online booking. Further, the company has converted the unreserved compartments of mail and express trains into reserved category, thereby leading to a stronger revenue and net profit growth outlook," analysts at INDmoney said

    15:07 (IST)04 Mar 2021
    IRCTC share price hits all-time high, surges three times from IPO price; stock may rally up to 40%

    IRCTC share price hit a new record high of Rs 2,014 apiece, rising as much as 7 per cent in the intraday on BSE. Indian Railway Catering and Tourism Corporation Ltd stock price has surpassed its previous high of Rs 1,995 apiece touched on February 25 last year. So far, a total of 3.95 lakh shares have traded on BSE, while 79.54 lakh shares have exchanged hands on the National Stock Exchange. 

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    14:37 (IST)04 Mar 2021
    88% jump recorded in delayed payment cases by micro, small sellers in 12 months; disposal rate at 109%

    Even as the Modi government has been urging buyers to clear MSME dues on time, the number of delayed payment applications filed by micro and small sellers has jumped 88 per cent in the past 12 months, according to government data. From 37,465 applications involving Rs 9,901.31 crore filed as of March 4, 2020, the number has increased to 70,451 applications involving Rs 19,557.91 crore, showed data available with the MSME Ministry’s delayed payment monitoring system MSME Samadhaan.

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    14:21 (IST)04 Mar 2021
    Money making options available in US stock market for Indian investors

    There are opportunities galore for investors looking to invest in the US stock market. The good news is that even Indian investors are allowed to invest in US stocks as per the RBI guidelines. There are several money-making investment options available in the US stock market for Indian investors.

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    14:20 (IST)04 Mar 2021
    Mumbai local trains between Churchgate-Virar to be safer! Indian Railways introduces first-of-its-kind system

    Now, Mumbai local train service to be safer and punctual! In a first, a Tetra based Mobile Train Radio Communication system has been commissioned on Indian Railways’ Mumbai suburban rail network between Churchgate and Virar section, which falls under the Western Railway zone. According to the Railway Ministry, the Tetra based Mobile Train Radio Communication system is a first of its kind system on the Indian Railways network. 

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    13:34 (IST)04 Mar 2021
    Easy Trip Planners will compete with Paytm, OYO

    Even in this time of lockdown Easy Trip Planners demonstrated its strength and was able to report revenue of 50 crores in 9MFY2021 and positive earnings per share of 2.86. The company stands at 3rd among the key online travel agencies in India in terms of gross booking revenues in FY 2020. They were the only profitable online travel agency among the key online travel agencies in India in 2018, 2019 and 2020, in terms of net profit margin. The competition will always remain a concern for this industry as well as companies, Easy Trip Planners need to compete with Paytm in Air tickets booking and aggregators like OYO in hotel business etc. We have a positive outlook for EASY TRIP PLANNERS LIMITED IPO.: Yash Gupta Equity Research Associate, Angel Broking Ltd

    13:33 (IST)04 Mar 2021
    US investors turning away from largecap to small, midcap stocks; this 2000-share index beats S&P 500

    The Russell 2000 index has zoomed 13.4% so far in 2021, outperforming the benchmark S&P 500 which has managed to gain merely 3.2% during the same period. This outperformance hints at investors turning focus away from large-cap companies towards mid-cap and small-cap stocks as the US economy picks up after the pandemic-induced slump. Russell 2000 comprises 2,000 small-cap stocks, while the S&P 500 is made up of the largest 500 companies on Wall Street.

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    13:21 (IST)04 Mar 2021
    Warren Buffett’s stock market gauge soars past historic average; should investors be concerned?

    Warren Buffet’s favourite stock market indicator has shot above its long term average as domestic stock markets near all-time highs and bulls continue to assert control on Dalal Street. The market capitalization to Gross Domestic Product (GDP) ratio of Indian equity markets is now at 104%, against the long term average of 75%, a report by brokerage firm Motilal Oswal showed. Nifty and Sensex recorded a 6.6% jump in February, helped by the Union Budget, RBI’s accommodative stance and a global bull market.

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    13:15 (IST)04 Mar 2021
    Top gainers on Sensex

    Tech Mahindra, Dr Reddy's, and Ultratech Cement were the top three gainers on BSE Sensex. While Tech Mahindra and Dr Reddy's were up more than 1% each, Ultratech Cement was up 0.95%.

    12:39 (IST)04 Mar 2021
    Nifty short-term support at 15,000

    Market opened with a gap down at 15026.75 and reversed from the support of 15000 and is currently trading at 15136 after making a high of 15171.30. 15000 will act as a support in the short-term period while 15270-15300 will act as a resistance. Markets were under the pressure due to the surge in bond yields overseas. Asian markets were also trading under pressure due to the increase in bond yield concerns and US markets can also be seen negative overnight. The rising yield is not going to impact the sovereign ratings of the countries according to S&P global. Adani ports, Sbilife, UPL, Techm, Powergrid, are the top gainers while HDFC, JSW steel, LT, Tata Steel, HDFC Bank are the top losers on Nifty.: Gaurav Garg, Head of Research at CapitalVia Global Research

    12:36 (IST)04 Mar 2021
    Heranba Industries listing day strategy: Strong grey market premium; book profits or hold for long-term?

    Agrichemicals manufacturer Heranba Industries is scheduled to list on stock exchanges on March 5, 2021. The Rs 625-crore IPO was subscribed 83.29 times during the three-day bidding process. The issue was sold in the range of Rs 626-627 per share. In the grey market on Thursday, Heranba Industries shares were seen quoting a premium of Rs 230 over the IPO price. Heranba Industries shares were trading at Rs 857 apiece, implying a grey market premium of 37 per cent from its issue price.

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    11:39 (IST)04 Mar 2021
    Bank Nifty support lies at 36,000

    Bank Nifty opened gap up and escalated throughout the day. Banking stocks surged and pulled the index above 36450 levels and it settled the day with gains of around 950 points. It formed a Bullish candle on daily scale and continues its formation of higher lows of the last three sessions. Now it has to continue to hold above 36000 zones to witness a bounce towards 37000 and 37250 zones while on the downside support exists at 36000 then 35500 levels. Expiry day point of view: Overall trend is buy on decline on a hold near to 36000 zones. Bank Nifty till it holds above 36000 zones it could see an up move towards 36750 then 37000 zones. Option traders are suggested to trade with nearby Call like 36300, 36400 strikes or Bull Call: Motilal Oswal Retail Research

    11:16 (IST)04 Mar 2021
    IRCTC share price at record high

    IRCTC share price hit a fresh record high of Rs 2,004 apiece on BSE, rising over 6 per cent in otherwise weak trade on Thursday.

    11:13 (IST)04 Mar 2021
    India 10-yr bond yield rises to 6.24%

    India 10-year bond yield rises to 6.24 per cent, up 0.14 per cent in today's trade.

    10:55 (IST)04 Mar 2021
    Gold prices fall below Rs 45,000 as US bond yields rise; down 11% so far in 2021; time to buy, sell or hold?

    Gold prices fell in Indian markets on Thursday, mirroring weakness in international trends amid rising US bond yields. On MCX, gold April futures were trading Rs 87 or 0.19 per cent down at Rs 44,861 per 10 grams. While silver May futures were seen ruling at Rs 67,497 per kg, down Rs 503 or 0.74 per cent. MCX gold has been falling due to rising 10-year bond yield which is currently at 1.45 per cent. US Dollar index, which is above 91, has also been hurting investor sentiment. On a week-on-week basis, the yellow metal has tumbled approximately 2 per cent.

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    10:40 (IST)04 Mar 2021
    Rupee may trade in range of 72.70-73.30 levels

    Lot of flows followed yesterday taking the rupee to 72.70 and then in the evening, the yield tantrum took it to a lower close at 72.88. RBI seemed to be absent except at 72.70 possibly. For today we should see a range of 72.70 to 73.30 with flows keeping rupee well bid. Exporters to sell at the higher end of the curve while importers to buy at the lower end. Equities still in a bull market and should keep heading higher though must be in overbought zone. But any correction will bring about more buying until the mood changes. So keep selling USDINR on all major upticks.: Anil Kumar Bhansali, Head- Treasury, Finrex Treasury Advisors

    10:03 (IST)04 Mar 2021
    Short-term trend for Rupee quite wide, may range between 72.50-74

    The importers who were sitting unhedged and enjoying Rupee's strong move should be cautious as volatility has returned in the market. Every dip below 73.00 mark or meeting a costing levels will be good opportunity to sit risk free ahead of financial year closing (March-end) as USDINR tone is bullish only. Exporters on another hand, who were enjoying higher premium benefit paid by RBI's sell/buy swap in forward, could reduce on unwinding of carry trade. Overall, short term range would be quite wide, ranging from 72.50 to 74.00: Amit Pabari, managing director, CR Forex Advisors

    09:47 (IST)04 Mar 2021
    Nifty 50 tumbles over 200 pts; but market trend still positive

    Even though we have opened with a gap down, the market trend remains positive until it does not break the level of 14600. Traders can utilize this fall to accumulate long positions for a target of 15500 and a stop loss of a closing below 14600. Since the gap is wide, trades can be initiated in installments with strict adherence to stops.: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    09:29 (IST)04 Mar 2021
    Nifty Metal index falls 2%; Nifty IT index gains

    Barring Nifty IT, Nifty Media and Nifty PSU Bank indices, all the sectoral indices were trading in the red, down up to 2 per cent.

    09:24 (IST)04 Mar 2021
    TCS, Infosys top Sensex gainers; IT stocks shine

    Five stocks, ONGC, Infosys, Tech Mahindra, Sun Pharma and Tata Consultancy Services (TCS) were trading in the positive territory.

    09:23 (IST)04 Mar 2021
    HDFC twins, Kotak Mahindra Bank top Sensex laggards

    Housing Development Finance Corporation (HDFC), HDFC Bank, Bajaj Finsv, Axis Bank, Kotak Mahindra Bank, Bajaj Finance, IndusInd Bank were among top BSE Sensex laggards.

    09:21 (IST)04 Mar 2021
    BSE Sensex plunges over 650 points, Nifty tests 15,053

    BSE Sensex was trading 668 points or 1.30 per cent down at 50,776, while the broader Nifty 50 index declined 193 points or 1.26 per cent to 15,053 on Thursday.

    Check live Sensex, Nifty levels

    09:13 (IST)04 Mar 2021
    Bond yields impacting stock prices; mid, small caps appear strong

    Bond yields are now exerting a major influence on stock prices, globally. After spiking to 1.6% on 25th Feb, the US 10-year yield fell to 1.4% and yesterday it has again risen to 1.48% impacting equity markets. In India, this has been a 'Buy on dips' market and it is likely to remain so till a major correction pulls it down. This will happen only when FIIs turn sellers on a sustained basis. Currently, mid-small-caps appear strong since money is moving into this segment on valuation comfort.: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

    09:10 (IST)04 Mar 2021
    HDFC Bank, Tata Steel top BSE Sensex drags in pre-open

    Tata Steel, HDFC Bank, IndusInd Bank, Bajaj Finsv, Kotak Mahindra Bank, NTPC and ONGC were among top BSE Sensex laggards in pre-open.

    09:06 (IST)04 Mar 2021
    Sensex down over 400 pts in pre-open

    BSE Sensex was trading 420 points or 0.82 per cent down at 51,024.44, while the broader Nifty 50 index declined 89 points to 15,157 in pre-opening on Thursday.

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    09:00 (IST)04 Mar 2021
    Asian stock market indices fall further; Japan's Nikkei down nearly 2%

    Asian stock market indices fell further in trade. Japan's Nikkei was down 1.88 per cent, China's Shanghai Composite declined 1.70 per cent. While Hong Kong’s Hang Seng index dropped 2.26 per cent and South Korea's Kospi fell 1.46 per cent.

    08:52 (IST)04 Mar 2021
    Underlying strength of Indian stock market remains intact

    Domestic equities do not look to be inspiring at the moment on weak global cues. A steep rise in bond yields in the USA yesterday once again hurt investors’ sentiments. However, we continue to believe that these concerns are short lived and any immediate correction in market due to rise in bond yields fear will only create opportunity for investors to buy quality stocks at reasonable valuations. In our view, a situation like taper tantrum in 2013 is still far away. The spread between USA treasury and India’s GSec Yields is still over 475bps, which looks to be comfortable and unlikely to reverse FPIs flows meaningfully. Given continued rebound in high frequency key economic indicators in Feb’21, we believe underlying strength of domestic equities remains intact.: Binod Modi, Head Strategy at Reliance Securities

    08:50 (IST)04 Mar 2021
    Stocks in focus: RailTel, IRCON, Yes Bank, Bharti Airtel, HDFC to remain on investors’ radar

    Nifty futures were trading 237.50 points or 1.55 per cent down at 15,057.50 on Singaporean Exchange on Thursday, indicating a gap-down opening for BSE Sensex and Nifty 50. In the last three days of the rally, Sensex has risen by 2,344.66 points or 4.77 per cent, while the Nifty has added 716.45 points or 4.93 per cent. Moreover, the market capitalisation of the BSE-listed companies has zoomed by Rs 9.41 lakh crore to reach Rs 210.22 lakh crore on Wednesday. 

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    08:31 (IST)04 Mar 2021
    Buy these two stocks with strong support on charts; Nifty's medium-term uptrend remains intact

    The sharp up trended movement continued in the market for the third consecutive sessions on Wednesday and Nifty closed the day with hefty gains of around 326 points. A long bull candle was formed on the daily chart and the Nifty has overtaken the key resistance area of the previous opening down/up gap at 15065 levels and the recent swing high of 15176-25th Feb. This is positive indication and the recent negative pattern seems to have nullified and one may expect further upside in the short term.

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    08:21 (IST)04 Mar 2021
    Low interest rates help enhance eligibility for home buyers

    The reduction in home loan rates by leading banks is going to help the demand side immensely. Currently, the all-time low, sub-7% interest rates are encouraging consumers to proceed with their purchase and quickly close their transactions. Low interest rates also help enhance eligibility for home buyers thereby bringing more customers into the marketplace. We have been maintaining since quite some time that banks need to pass on the benefits of the reduced repo rates to consumers and we are happy to see the same happen now. The real estate sector has benefited immensely from the record low home loan rates, apart from the temporary reduction in stamp duty charges in key states.: Jayesh Rathod, Executive Director, The Guardians Real Estate Advisory

    08:18 (IST)04 Mar 2021
    Domestic crude may start with gains this Thursday morning

    Domestic crude could start with gains this Thursday morning, tracking overseas prices. Technically, MCX Crude Oil will continue to trade on bullish momentum up to 4540-4594 levels. Support is at 4480-4420 levels. Natural gas futures rebounded on Wednesday supported by gains in LNG prices. Domestic natural gas ended higher on Wednesday, tracking NYMEX prices. International natural gas futures have started flat this Thursday morning in Asian trade ahead of the inventory data tonight.: Sriram Iyer, Senior Research Analyst at Reliance Securities

    08:11 (IST)04 Mar 2021
    Sensex, Nifty in for a jittery session as bond yields rise? 5 thing to know before opening bell

    Domestic benchmark indices soared on Wednesday, moving higher for the third consecutive trading session, backed by growing economic optimism and vaccination drive picking up pace. BSE Sensex now sits at 51,444 while the 50-stock NSE Nifty is above the 15,200 mark. However, bond yields in the United States have risen once again, causing Wall Street indices to register another sell-off. On Thursday morning, Asian peers were mirroring global peers and sliding down. SGX Nifty was deep in red, falling 200 points during the early hours of trade. 

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    08:10 (IST)04 Mar 2021
    Major US stock indices end lower as bond yield rises

    Major indices on Wall Street declined as the tech-heavy Nasdaq Composite dropped 2.7 per cent to close at 12,997.75. The S&P 500 fell 1.31 per cent to 3,819.72 while the Dow Jones Industrial Average declined 121.43 points to 31,270.09.

    08:09 (IST)04 Mar 2021
    Asian stock markets follow Wall Street losses

    Asian stock markets were trading in the negative territory taking cues from overnight declines on Wall Street as bond yields rose yet again. Japan’s Nikkei 225 fell 1.18 per cent while the Topix index shed 0.62 per cent. South Korea’s Kospi slipped 0.67 per cent.

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