Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic benchmark indices returned to the positive territory on Friday, after slipping for two consecutive days. S&P BSE Sensex closed above 49,000 while Nifty 50 gained to breach 14,500. Bajaj Finserv and Titan Company limited jumped over 4% each to end as the top index gainers. Powergrid, IndusInd Bank, TCS, and ITC were the index laggards. Broader markets were in line with benchmark indices. Midcap stocks outperformed. India VIX dropped 10% today, after having surged above 22 levels in the last two trading sessions. All sectoral indices, except Nifty Media, closed with gains.
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Highlights
Domestic equity markets ended with gains, reversing some of the losses recorded in the previous two trading sessions. S&P BSE Sensex closed 568 points higher at 49,008 while the Nifty 50 ended 201 points higher at 14,518. Among the top gainers on Sensex were Bajaj Finserv, Asian Paints and Titan Company limited, all jumping over 4% each. Powergrid, IndusInd Bank, ITC, and Maruti Suzuki were the only stocks on Sensex that closed with losses. India VIX plunged 10%.
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After falling for two consecutive days, Sensex and Nifty moved higher on Friday. Sensex ended above 49,000 while Nifty 50 zoomed to cross 14,500 today.
Nifty regained 14,500 while Sensex inched back up to 49,000 just ahead of the closing bell.
Sensex has given up 49,000 while Nifty has slipped below 14,500 just ahead of the closing bell. Index heavyweights, Reliance Industires and TCS were down in the red.
Nifty is just shy of 14,500 with minutes left before the closing bell today. Sensex was up 527 points, down from day's high.
Nifty Midcap 50 was up 2.07% just ahead of the closing bell on Friday. BSE Midcap index was up 1.68%. Meanwhile, Nifty and Sensex gained nearly 1.2% each.
Powergrid was down over 1%, making it the worst Sensex performer on Friday. It was followed by ONGC, TCS, HCL Technologies, and IndusInd Bank.
Stocks on Wall Street have run-up significantly in the last year as bulls ran wild after the March 2020 sell-off. While some believe this has made stocks too expensive, analysts at Barclays think otherwise. “Equity market valuations based on forward-looking earnings metrics do look elevated relative to history. However, the scale of positive news expected in coming quarters means that stocks still don’t look too expensive to us,” they said in a recent note. The multinational investment bank says it is still overweight on equities, seeing positives ahead with better earnings.
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"I appreciate and am grateful for the judgement passed by the honourable Supreme Court today. It is not an issue of winning or losing. After relentless attacks on my integrity and the ethical conduct of the group, the judgement upholding all the appeals of Tata Sons is a validation of the values and ethics that have always been the guiding principles of the group. It reinforces the fairness and justice displayed by our judiciary."
~ Ratan Tata Chairman Emeritus, Tata Sons
On Sensex, Bajaj Finserv and Asian Paints were the top gainers at this hour, both surging over 4% each. Titan, HUL and Bajaj Auto were the other top gainers.
The Supreme Court today ruled in favour of Tata Sons and Ratan Tata, by upholding the ouster of Cyrus Mistry as the Executive Chairman of the salt-to-software Tata Conglomerate. The apex court dismissed pleas filed by Cyrus Mistry and set aside the NCLAT (National Company Law Appellate Tribunal) order. The bench headed by Chief Justice of India S A Bodbe, and comprising Justice A S Bopanna and Justice V Ramasubramanian had reserved the judgement earlier in December on various pleas by Tata Sons as well as Cyrus Mistry’s Cyrus Investments Pvt Ltd.
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"Underperformance of the Indian market during the last many days is striking. The prime mover of this downtrend in the market is the FII selling ( Rs 3384 cr yesterday), which, in turn, has been triggered by concerns surrounding the impact of the second wave of Covid attack. Now, we don't have clarity on the intensity of the second wave. It is largely confined to some districts with rural India unaffected. The second wave is unlikely to have a major impact on growth and corporate earnings. But the jury is still out on this. This exceedingly volatile phase of the market is turning out to be difficult terrain for traders. But, for long-term investors dips will provide opportunities to buy quality stocks. IT, financials, cement, chemicals are good bets," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Federal bank is one of India’s largest old generation private sector banks with total assets of Rs. 1.9 lakh cr. with deposits of Rs 1.56 lakh cr. and a loan book of Rs 1.2 lakh cr in F21. NPA’s have remained steady for the bank over the past few years with GNPA for Q3FY21 at 3.38% while NNPA ratio stood at 1.14%. PCR at the end of Q3FY21 stood at ~67% which we believe is adequate. The restructuring book is expected to be at Rs 1,500-1,600 crore out of which Rs. 1,067 crore has already been restructured. This is against earlier expectations of total restructuring of Rs 3,000-3,500 crore
Target- Rs 110 per share
~ Angel Broking
Nifty jumped to regain 14,500 on Friday morning. Sense was up 500 points nearing 49,000 levels.
"The index has opened the new series with a gap up opening. That is because it has bounced from strong support of 14300-14350. This should not be considered as a reversal in the trend. The markets might be taking a breather. The short-medium trend will turn positive only post-closure of 14750-14800. Until then any rally up can be assessed to go short on the Nifty. If we manage to break the lows of yesterday, we could slide down to levels closer to 14000," Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.
Gold prices were trading weak in India on Friday tracking subdued overseas markets as firm US Treasury yields and a stronger US Dollar dented investor sentiment. On MCX, gold April futures were trading Rs 125 or 0.28 per cent down at Rs 44,570 per 10 grams as against the previous close of Rs 44,695. Silver May futures were ruling at Rs 64,821 per kg, down Rs 48 or 0.07 per cent, as compared to a previous close of Rs 64,869 on the Multi Commodity Exchange.
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Kalyan Jewellers India shares made a weak debut on the stock exchanges on Friday. Kalyan Jewellers stock began trading at Rs 73.90 per share, down Rs 13.10 or 15.06 per cent from the IPO price of Rs 87 per share. In the gold and diamond jewellery market, Kalyan Jewellers competes with Titan Company, Tribhovandas Bhimji Zaveri (TBZ), Malabar, Joyalukkas, PC Jeweller and Senco Gold, among others. On listing, Kalyan Jewellers India had a market capitalization of Rs 7,612.09 crore.
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The traffic-jam at the Suez Canal caused by a large cargo ship lodged in the waterway could be causing a loss of $9.6 billion per day, according to London based Llyod’s List — a shipping news journal. Lloyd’s List says that their ‘rough calculations’ suggest westbound traffic on the Suez Canal is worth around $5.1 billion daily while eastbound traffic is worth $4.5 billion. So far Ever Given, the Panama-registered container ship that runs 400 meters long, has been blocking the canal vital for world trade for over 48 hours.
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Suryoday Small Finance Bank shares listed today at a discount to the IPO price. Stocks of Suryoday SFB began trading at Rs 293 per share, down 3.93% or Rs 12 from the issue price of Rs 303-305 apiece. The debutant stock had a market capitalization of Rs 3,109 crore on listing. Suryoday Small Finance Bank entered Dalal Street earlier last week to raise Rs 582 crore through the listing of its shares on the bourses which was an amalgamation of a fresh issue and an offer for sale. Overall, 19,093,070 equity shares of Suryoday SFB were offered in the IPO.
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The Indian Rupee’s ignorance of falling Emerging Currencies & stronger dollar index suggests an impending fall against US dollar. For the day, it is expected to trade in the range of 72.50-72.80 against US dollar.: Amit Pabari, managing director, CR Forex Advisors
Sensex began trading on Friday above 48,900 while Nifty was nearing 14,500. Broader markets were outperforming the benchmark indices.
Sensex was nearing 49,000 in the pre-open session while Nifty was above 14,500.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel remain unchanged today after having slipped for two consecutive days. The price of petrol and diesel fell for the first time on March 24, across major cities, after having remained the same for three consecutive weeks. Nation Capital Delhi was quoting a petrol price of Rs 90.78 per litre while Diesel in the city was priced at Rs 81.10 per litre, down 21 paise and 20 paise, respectfully from yesterday. Fuel prices remain the highest in Mumbai at Rs 97.19 per litre for Petrol. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.
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Nifty crosses 14,500 in pre-open session on Friday morning while Sensex was above 48,800 as bulls look to make a comeback on Dalal Street.
Headline indices BSE Sensex and Nifty 50 were eyeing a strong start on the first day of the April series, as suggested by trends on SGX Nifty. In the previous session, Sensex tumbled 740.19 points or 1.51 per cent to close at 48,440.12. While NSE’s Nifty declined by 224.50 points or 1.54 per cent to end at 14,324.90. Market participants will watch Supreme Court judgement on the cross appeals filed by Tata Sons Pvt Ltd and Cyrus Investments Pvt Ltd against the NCLAT.
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RIL: Reliance Industries Ltd, through its subsidiary acquired Den Networks and Hathway Cable & Datacom in 2018. The oil-to-telecom conglomerate will offload its stake in both the companies through offer-for-sale (OFS). This OFS will open non-retail investors on Friday and for retail investors on Tuesday.
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"Nifty index failed to continue its bullish momentum of the last series and settled the March series with the loss of 5.12% at 14324 levels. During the series, it made high of 15336 levels but sustained supply pressure was seen near to 15300 zones which has taken index below 14350 zones. It witnessed its weakness in last three weeks of this series and corrected by around 1000 points from higher levels. Now, till it remains below 14550 zones, weakness could be seen towards 14200 and 14000 zones while on the upside hurdles are seen at 14675 and 14800 zones," said Chandan Taparia, Derivative & Technical Analyst, Motilal Oswal Financial Services.
Reserve Bank of India (RBI) governor Shaktikanta Das on Thursday said he foresees four categories of banks functioning in India in the current decade. Governor Das said that the central bank is in discussion with the government on the privatisation of two banks. He was speaking at the Times Network India Economic Conclave 2021.
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SGX Nifty jumps over 200 points. Nifty futures are up and running, hinting at a positive start for equity markets.
Kalyan Jewellers India IPO will be listed on stock exchanges on Friday, March 26, 2021. The Rs 1,175-crore public issue received a muted response and was subscribed 2.61 times. The issue was sold in the price band of Rs 86-87 per share. In the grey market today, Kalyan Jewellers India shares were trading with Rs 4 discount over the IPO price. The shares were seen ruling at Rs 83 apiece, down nearly 5 per cent from the issue price. On successful listing on stock exchanges, Kalyan Jewellers India will join its industry listed peer Titan Company Ltd, which has a P/E of 84.23x.
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