Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended in red for the fifth staright session on Tuesday, on the back of geopolitical tensions. BSE Sensex fell 383 points or 0.7 per cent to 57,300, while Nifty 50 index lost 114 points or 0.7 per cent to finish at 17,092. Tata Steel was the top BSE Sensex dragger, down 3.7%, followed by TCS, SBI, Dr Reddy’s Laboratories, ITC, Bharti Airtel, among others. On the flip side, Bajaj Finserv was the top Sensex gainer. M&M, Kotak Mahindra Bank, Housing Development Finance Corporation, Sun Pharma were among the top index leaders. All the nifty sectoral indices ended in the negative territory. Bank Nifty was down nearly 1 per cent in today’s trade.
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Crisil, the domestic rating and research arm of analytical giant S&P Global has seen its stock slip 5.7% so far this year, faring worse than the headline indices. However, analysts at Edelweiss have retained their ‘buy’ rating on the scrip while having trimmed the target price. Earlier last week Crisil had announced its quarterly results where the company had reported strong growth in income and profits. Crisil had also announced a dividend. Ace investor Rakesh Jhunjhunwala owns a 5.5% stake in Crisil and has maintained his shareholding over the last few quarters.
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Volatility was skyrocketing on Tuesday morning. The India VIX gauge zoomed 17.1% to sit at 26.8 levels with minutes left before the closing bell.
The geopolitical risk of the Ukraine-Russian standoff is adversely impacting the global market, and India is no exception. Both Russian indices and currency, have witnessed the biggest fall since 2008. This dispute alongside the potential threat of rising rates by global central banks to fight inflation, is dampening the sentiment of investors. In the Indian context, investors were concerned about events like state election outcomes & central banks raising interest rates, whereas the third dimension of war has been added to the investor's plate. This is fuelling volatility to unprecedented levels. Aishvarya Dadheech, Fund Manager, Ambit Asset Management
We are in monthly F&O expiry week therefore we could see a surge in volatility whereas March is going to be a very volatile month due to lots of events like geopolitical uncertainty, results of state elections, US Fed meeting, etc. The overall trend is bullish but we may have high volatility over the next month therefore short-term traders should remain light while long-term investors should look at this correction as a buying opportunity. Technically, Nifty is trying to respect its 200-DMA which is currently placed around 16850 while if Nifty starts to trade below 200-DMA then correction may see further extension towards 16000/15500 levels. On the upside, 17300/17500 are important resistance levels; above this, we can expect positive momentum in the market. Parth Nyati, Founder, Tradingo
We are in monthly F&O expiry week therefore we could see a surge in volatility whereas March is going to be a very volatile month due to lots of events like geopolitical uncertainty, results of state elections, US Fed meeting, etc. The overall trend is bullish but we may have high volatility over the next month therefore short-term traders should remain light while long-term investors should look at this correction as a buying opportunity. Technically, Nifty is trying to respect its 200-DMA which is currently placed around 16850 while if Nifty starts to trade below 200-DMA then correction may see further extension towards 16000/15500 levels. On the upside, 17300/17500 are important resistance levels; above this, we can expect positive momentum in the market. Parth Nyati, Founder, Tradingo
Stocks of Tata Consultancy Services (TCS), Reliance Industries Ltd (RIL), HDFC Bank, State Bank of India (SBI), and ICICI Bank, among others were top Sensex draggers
Domestic markets continue to battle heightened volatility on Tuesday morning as investors gauged the repercussions of the Russin-Ukraine conflict. S&P BSE Sensex hit an intra-day low of 56,394 before recovering some losses to regain the 57,000 mark. NSE Nifty 50 index hit a low of 16,843 but was now hovering around the 17,000 mark. Both the headline indices were still in the red. Broader markets followed the carnage recorded by Benchmarks while India VIX was up 16.6% to sit above 26 levels. Amid this, 166 shares on the BSE hit a fresh 52-week low value while 188 traded at new lows on the NSE.
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Technically, Nifty has witnessed increased volatility however it is trying very hard to protect the previous swing lows of 16800-16825 levels. As long as these levels are held a small relief can be seen. However, the overall texture of the market is likely to remain subdued with volatility continuing to play havoc on traders. A close below 16800 can open roads for 16400 levels for nifty to witness a stability on immediate term it has to close above 17000 levels which will bring back some confidence in traders as well as option writers. Ankur Saraswat, Research analyst at Trustline Securities
A lot of uncertainties in the financial markets have aided bears to tighten their grip on the market over the last couple of days on account of developments, for instance, Ukraine-Russia possible war, fed reserve policy tightening measures, sky-rocketing inflation, lingering omicron virus, semi-conductor shortage, and supply chain bottlenecks. Therefore, it can be contemplated that the benchmark indices might consolidate going ahead, volatility on the broader front would be hard to handle. Ankur Saraswat, Research analyst at Trustline Securities
Volatility in markets because of geopolitical issues linked to Russia and Ukraine should not last long. Chances of a major flare-up look small while sanctions on Russia are expected not to be as strong as the ones against Iran, as no one wants crude prices to stay at elevated levels on the back of already high inflation. Markets below 17000 offer a good risk-reward tradeoff. One should use this correction to gradually increase equity exposure by investing in quality companies.
Naveen Kulkarni, Chief Investment Officer, Axis Securities
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India were trading at a 13-month high level on Tuesday, taking cues from international markets as Russia-Ukraine tensions escalated. On Multi Commodity Exchange, gold April futures were trading Rs 361 or 0.7 per cent up at Rs 50439 per 10 gram. Silver March futures were ruling at Rs 64,744, rising Rs 761 or 1.20 per cent from last close. Globally, yellow metal prices hit a near nine month-high after Russia ordered troops into breakaway regions of eastern Ukraine, boosting demand for the safe-haven metal, according to Reuters.
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Structurally, over the past five weeks’ index has retraced 80% of the preceding four weeks' rally (16410-18350). Slower pace of retracement signifies that the broader bullish structure is still intact. Thus, extended breather should not be construed as negative, instead dips should be capitalised to accumulate quality large caps as we do not expect Nifty to breach key support of 16800-16780.
~ Raushan Kumar, Derivative Analyst, IIFL Securities
NSE Nifty 50 may soar from the current levels and scale 18,441 points by December, said analysts at Prabhudas Lilladher. This would take the benchmark index closer to its all-time high of 18,604. Domestic markets have been battling volatility amid geopolitical tension and with the rate hike cycle around the corner, but analysts are hopeful that the index will move higher from current levels, banking on India’s growth story. Currently, the Nifty 50 is at 16,843, down nearly 10% from its all-time high of 18,604.
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As expected the Nifty has fallen over 300 points post the breaking of the 17200 support level. Traders can book profits on their short positions here as we are at the lower end of the current range which is 16800. If we break that, a new opportunity to go short emerges. On the upside, the resistance is at 17200-17250. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Failure to ease tensions between Russia & Ukraine & a potential war-like situation has expectedly spooked global equity markets & started a rally in safe-haven Gold. Technically, if Nifty closes below 16810, should lead to 16400 in the very near term. Resistance remains at 17350. Nifty Bank too looks weak and a close below 36350 could lead to 35500. Resistance remains at 38050. AR Ramachandran, Co-founder & Trainer, Tips2Trades
Technically, if we don't break the last week's low of 16,810 we should be fine. On the contrary if this level breaks we may see further sell off in the markets. Make or Break situation for the markets. Lets see how we close today.
Rahul Sharma, JM Financial Services
Bank Nifty 200-DMA stood at 36545. In both the case, it is largely expected that the opening lows will stand protected and there are little chances of these levels being violated. On the higher side, the Nifty has resistance at 17200 and Bank Nifty at 37900. I expect the markets to stay in this mentioned range. It would be prudent not to add shorts here as short squeeze may occur. Instead, this opportunity must be used in picking up good quality stocks at lower prices. Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services
Markets are again down due to negative sentimental affect given the renewed geopolitical conflict between Russia and Ukraine which had an overnight escalations. However, coming back to markets, they are bound to get negatively impacted from the sentimental stand point. However, despite that, the gap down opening has happened exactly at the 200-DMA which stands at 16864. Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services
Broader markets fall too. S&P BSE MidCap index tumbled 1.6 per cent or 378 points to 23204, while S&P BSE SmallCap index plunged 2.14 per cent or 581 points to rule at 26556
India VIX, the volatility index, jumped 19.52 per cent to 27.38 levels in Tuesday's trade as Russia-Ukraine crisis deepened
All the Nifty sectoral indices were ruling in the negative territory. Bank Nifty fell nearly 2 per cent or over 600 points, Nifty FMCG index declined 1.4 per cent, while Nifty IT index lost 2 per cent
All S&P BSE Sensex 30 stocks were deep in red. Dr Reddy's Laboratories tanked 3 per cent, followed by L&T, Tech Mahindra, Housing Development Finance Corporation (HDFC), IndusInd Bank, Tata Consultancy Services (TCS), Asian Paints, Reliance Industries Ltd (RIL), among others
BSE Sensex crashed 1100 points to trade at 56577, while NSE Nifty 50 gave up 16950 level amid geopolitical tensions on Tuesday
MCX gold prices hit 13-month high level of Rs 50,488 per 10 gram. Globally too, yellow metal prices touched nine-month high as Ukraine crisis deepened
Escalations in Ukraine tensions with Russia recognising two pro-Russian rebel regions have aggravated the crisis. The economic consequences are already visible in higher crude and gold prices. The situation remains fluid; we don't know whether the tensions will escalate or be contained from now on. The biggest macro headwind for India is crude racing to $97. The inflationary consequence of this will force the RBI to abandon its dovish monetary stance. Globally stock markets have turned weak. Buying opportunities may emerge in this correction. But investors need not rush-in to buy. The situation is fluid. FIIs are likely to continue selling. This will continue to depress the prices of some high quality financials. Nibbling in this segment can be considered. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
BSE Sensex crashed 1100 points to trade at 56577, while NSE Nifty 50 tanked 466 points to 16740 in pre-opening session on Tuesday
On Technical front, immediate support and resistance levels for Nifty 50 is 17,200 and 17,400 respectively and for Bank Nifty 37,200 and 38,150 level will act as support and resistance. Mohit Nigam, Head – PMS, Hem Securities
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel prices saw no change on February 22 with oil marketing companies (OMC) keeping prices steady once again. Petrol in the National Capital of Delhi currently retails at Rs 95.41 per litre while diesel in the city is priced at Rs 86.67 per litre. In Mumbai, a litre of petrol and diesel cost Rs 109.98 and Rs 94.14, respectively. Fuel prices have been stable since the central government cut excise duty to bring down retail rates from record highs in November last year. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.
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Nifty has been trading in a broader range of 16,800-17,400 for the last one month and needs a decisive breakout on either side for a clear direction. We don’t expect the volatility to cool down until the geo-political issues are resolved. Further issues like Inflation, FIIs selling and upcoming Fed rate hike could add to the volatility in the near term. Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
Markets are in wait and watch mode in line with global peers and closely monitoring the Russia-Ukraine crisis for cues. Meanwhile, the volatile swings in the index combined with the selling in broader markets are making traders’ life difficult. We thus recommend limiting positions and keeping the existing hedged until the markets stabilise. Ajit Mishra, VP – Research, Religare Broking