Share Market Highlights: Nifty closes below 15,000, Sensex gives up 50,500; HDFC Bank, ICICI bank drag indices

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Updated: March 5, 2021 4:20:21 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity market benchmarks BSE Sensex and Nifty 50 closed in the red on Friday, following global peers.

Share Market Today, Share Market LiveVolatility gained during the day, ending at 25.5 levels.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity market benchmarks BSE Sensex and Nifty 50 continued to fall for the second day straight. BSE Sensex closed at 50,405, falling 440 points, while NSE’s Nifty 50 gave up 15,000. HDFC Bank, ICICI Bank, Housing Development Finance Corporation, Axis Bank, State Bank of India, Bajaj Finance were among major contributors to the fall recorded by Sensex. Stocks of ONGC, Maruti Suzuki, Kotak Mahindra Bank, and Nestle India were among top BSE Sensex gainers. All sectoral indices closed in red with Nifty PSU Bank index falling over 3%, making it the worst sectoral gauge. Volatility surged to hit a high of 26.4 in the day but before closing bell pared some gains to close at 25.56.

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Highlights

    16:19 (IST)05 Mar 2021
    Sensex, Nifty end in red for second-day straight; here's what experts make of today's trade

    For the second day straight, Sensex and Nifty closed down in the negative territory, following global peers as US-Bond yields soared. S&P BSE Sensex ended 440 points lower at 50,405, while the 50-stock NSE Nifty gave up the 15,000 levels. Banking stocks were dragging markets lower with HDFC Bank and ICICI Bank being the top index contributors. ONGC, Maruti Suzuki India, and Kotak Mahindra Bank were the top index gainers. Volatility soared higher during the day but on closing had pared some gains. Broader markets were worse than the benchmark indices.

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    15:33 (IST)05 Mar 2021
    Closing bell

    Sensex and Nifty extended their losses on Friday, falling for the second day straight. Nifty managed to hold above 14,900.

    15:28 (IST)05 Mar 2021
    Nifty breaches 14,950, Sensex nears 50,500

    Sensex was nearing 50,500 ahead of the closing bell while Nifty 50 breached 14,950 levels.

    15:21 (IST)05 Mar 2021
    Volatility slips further

    The volatility gauge was now up only 5%, sitting at 25.42 levels, down from its high of 26.41 earlier in the day.

    15:20 (IST)05 Mar 2021
    Trimming losses

    IndusInd Bank shares trimmed some losses as they moved higher while Sensex and Nifty attempted to move higher. IndusInd Bank as down 4.68% at 3:15, charting nearly a 2% recovery from lows. 

    15:12 (IST)05 Mar 2021
    Nifty nears 14,950

    Nifty 50 was gaining momentum to end near 14,950 levels, as it surged back from the lows of 14,862.

    15:06 (IST)05 Mar 2021
    BSE Midcap, Smallcap fall underperform

    BSE Midcap index is down 2.2% on Friday while the Smallcap index down 1.75%, with minutes left in the day's trade. Sensex, however, was 1% lower.

    15:00 (IST)05 Mar 2021
    Nifty still holds above 14,900

    Nifty is holding above 14,900 which is a support level for index. Nagaraj Shetti, Technical Research  Analyst, HDFC Securities earlier said that if Nifty holds the support zone of 15,000-14,900 it could result in a significant bounce.

    14:56 (IST)05 Mar 2021
    Blackstone in talks to buy minority stake in India’s Sify

    Blackstone Group Inc. is in exclusive talks to acquire a minority stake in India’s Sify Technologies Ltd., according to people with knowledge of the matter. The communications infrastructure firm has sought a valuation of around $1 billion to $1.2 billion in a transaction, said the people, who asked not to be identified because the talks are private. It’s unclear what valuation the Blackstone stake purchase will be struck at and talks could still fall apart.

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    14:53 (IST)05 Mar 2021
    Sensex, Nifty erase half the gains made this week

    With the fall recorded yesterday and today, benchmark indices Sensex and Nifty have now erased more than half the gains they made in the preceding three sessions. 

    14:46 (IST)05 Mar 2021
    Reliance Jio reportedly working on JioBook low-cost laptop with Android-based JioOS, 4G connectivity

    Reliance Jio may foray into India’s burgeoning laptop market soon. The JioPhone maker is currently working on the ‘JioBook’, a low-cost laptop with Android-based JioOS software and 4G connectivity, according a new report. That Jio may enter this category isn’t surprising. Reports dating back to 2018 have suggested Jio’s interest in launching an affordable laptop though it is only now we’re getting some more finer details.

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    14:46 (IST)05 Mar 2021
    Only five of thirty Sensex stocks in green

    Only five of the thirty stocks that collectively comprise the S&P BSE Senex idex, were up in the green on Friday afternoon. ONGC and Maruti Suzuki India were the only ones trading with gains above 1%. Kotak Mahindra Bank, Nestle, and Ultratech Cement were the other gainers.

    14:42 (IST)05 Mar 2021
    European markets trade lower

    "European equity markets are trading slightly lower this morning, with the German index down 0.50 per cent on the day. The rollercoaster ride on the stock market continues. An increasing number of investors are standing on the sidelines as inflation fears intensify. Additionally, it should become clearer in the coming days whether US President Biden´s massive stimulus package will ultimately be signed off by the Senate. Therefore, equity markets might continue to consolidate for a while," said Milan Cutkovic, Market Analyst at Axi

    14:38 (IST)05 Mar 2021
    Volatility falls as markets pare some losses

    India VIX, the volaitlity gauge fell from its high of 26.41 to 25.89 levels as domestic markets pared some losses with less than an hour left of the day's trade.

    14:28 (IST)05 Mar 2021
    Coming back from lows?

    Nifty has reclaimed 14,900 after hitting the lows of 14,862. Sensex was above 50,300 after have tanked to as low as 50,160 points. 

    14:23 (IST)05 Mar 2021
    Heranba Industries mildly hit by weak market sentiment

    Newly listed Heranba Industries shares were down 8.6% from the listing price of Rs 900 per share. However, IPO investors still are sitting at a 34% premium to the issue price. 

    14:17 (IST)05 Mar 2021
    Broader market weaker than benchmarks

    Broader markets were looking weaker than the benchmark indices on Friday. BSE Smallcap index was down 1.78%, Nifty Smallcap 50 was down 2.12%. Meanwhile, Nifty Midcap 50 fell 3.42% and BSE Midcap was down 2.37%. On the other hand, Sensex and Nifty were seen falling 1.2% each. 

    14:13 (IST)05 Mar 2021
    IndusInd Bank down 6%

    IndusInd Bank was the worst-performing Sensex stock on Friday, down 6% at Rs 1,026 per share. This was followed by State Bank of India, down 4.3%.

    14:09 (IST)05 Mar 2021
    Sensex nears 50,000; Nifty gives up 14,900

    Sensex is down over 500 points, threatening to give up 50,000 mark as domestic markets extend losses. Nifty slipped below 14,900.

    13:50 (IST)05 Mar 2021
    Wipro stocks fall nearly 4 pc after signing deal to buy Capco for USD 1.45 bn

    IT services major Wipro’s shares on Friday went down nearly 4 per cent in early trade after the firm said it has signed an agreement to acquire Capco, a global management and technology consultancy, in a USD 1.45 billion (over Rs 10,500 crore) deal.

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    13:50 (IST)05 Mar 2021
    Sensex, Nifty moved lower

    Sensex was down 300 points on Friday while the Nifty 50 index gave up 15,000 mark.

    13:31 (IST)05 Mar 2021
    Volatility moving higher

    India VIX, the volatility gauge of domestic markets is up 6% on Friday. The index surged to breach 25 levels during the day.

    13:30 (IST)05 Mar 2021
    ICICI Bank reduces home loan interest rate to 6.70%

    ICICI Bank today announced that it has reduced home loan interest rate to 6.70%. The revised interest rate -- the lowest in 10 years by the Bank. Customers can avail of this interest rate for home loans upto Rs 75 lakh. For loans above Rs 75 lakh, interest rates are pegged at 6.75% onwards. These revised rates will be available till March 31, 2021.

    13:15 (IST)05 Mar 2021
    Capacite Infra shares zoom 166% in 1 year; analysts see 57% more upside as pipeline gets stronger

    Capacite Infraprojects’ share price has zoomed 166% since the March low, and is still going strong at Rs 203 per share. The stock appeared to have been riding the bull market aided by liquidity; but now, fundamentals hint at a strong pipeline and execution, which makes analysts bullish on the company. Capacite Infraprojects reported 68% quarter-on-quarter revenue growth, and a sharp 235% jump in net profit, in the fiscal third quarter (Oct-Dec). Order inflows are expected to soon bounce back strongly, helping margins expand.

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    13:04 (IST)05 Mar 2021
    Gold prices on the fall

    After having a dream run in 2020, the yellow metal has been falling for the past few months losing more than 20% in value from the highs witnessed in August 2020. The fall in gold prices in the domestic market is in line with the international market prices post comments of the US Fed Chairman on inflation and bond yield. Commex Gold prices fell due to the rising treasury yields that make holding gold more expensive, the strengthening of the dollar also makes gold buying expensive. Heavy outflows from Gold ETFs are also one of the reasons for the softness in Gold prices. We expect gold prices to remain sideways in the short-term as vaccination drive across the globe picks up the pace which will lead to full normalcy in economic activities. The expectation of a rise in inflation due to excess liquidity globally may help gold prices in the medium to long-term.

    ~ Nish Bhatt, Founder & CEO, Millwood Kane International

    12:53 (IST)05 Mar 2021
    PPF Vs VPF Vs Bank FD: Has voluntary provident fund lost its shine after new PF rules?

    The new provident fund (PF) interest rate rules that bring tax into the picture has made investors take a fresh look at the provident fund as an investment option. A comparison between EPF, PPF, and bank fixed deposits will show which of these investments is still a better option for you. All this because the new PF rule introduced recently could act as a dampener for some employees. If the total contribution towards the PF account exceeds Rs 2.5 lakh in a year, the interest earned on the excess amount will not be tax-exempt anymore. The interest earned on excess PF contribution will be taxed as bank FD.“Interest earned by the Employee Provident Fund from contributions above Rs 2.5 lakh a year will be added to the taxable income and taxed at the normal rates. This will only apply to the employee’s contribution and not that of the employer,” says Rajesh Bansal, MD, Midas FinServe, a financial services firm.

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    12:42 (IST)05 Mar 2021
    Wipro: Logic of Capco buy is good; valuation fair but execution is key

    Giving the new CEO the benefit of doubt, we continue to believe that it will likely deliver strong growth in FY22, but 200-400bps lower than many of its larger peers. Post the acquisition, we have lowered our EBIT margin and EPS estimates for FY22 and FY23. While Wiprodid indicate that it would fund the acquisition through a combination of internal accrual and debt, we have currently assumed that it will be completely funded internally (it has the requisite cash/cash equivalents). We maintain our ‘Accumulate’ rating on Wipro with a target price of Rs 461. Nirmal Bang

    12:35 (IST)05 Mar 2021
    Heranba Industries shares fall below listing price

    Heranba Industries shares fell below the listing price in the noon deals. The shares were seen trading at Rs 835.60 apiece, against the listing price of Rs 900 on BSE.

    Check Live price: Heranba Industries

    12:27 (IST)05 Mar 2021
    MTAR Technologies IPO: Grey market premium soars 85% on last bidding day; should you subscribe?

    Hyderabad-based MTAR Technologies Rs 596-crore initial public offering (IPO) has been subscribed 12.77 times so far on the last of the bidding process. The IPO has received bids for 9.83 crore equity shares against an offer size of 72.6 lakh equity stocks, translating into a subscription of 10.27 times, data available on the exchanges showed. In the grey market, MTAR Technologies shares were commanding a strong grey market premium of 85 per cent over the issue price of Rs 575 apiece on Friday. 

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    11:39 (IST)05 Mar 2021
    Share market valuations stretched but indices hold firm; wait for correction or deploy cash?

    NSE Nifty 50 is trading at a stretched PE ratio of 40.93. Meanwhile, on a one-year forward basis valuations seem rich at 22.3x FY22E. Despite this, stock markets continue to remain unscathed and hover closer to the all-time highs. Is it now time to pull money out of equities and wait for a correction? “Since near term valuations are still very much on the higher side it is not wise to expect healthy returns in less than one year,” Rusmik Oza, Executive Vice President, Head of Fundamental Research at Kotak Securities, told Financial Express Online.

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    11:32 (IST)05 Mar 2021
    Heranba Industries shares list with 44% premium

    Heranba Industries Ltd (HIL), a crop protection chemical manufacturing company, listed today on the exchanges with a 44% premium at Rs 900/share against its issue price of Rs627/share. The company had raised Rs625 crore through public issue which was subscribed 83 times. It also has a well-diversified presence in India through more than 9400 dealers/distributors. During FY18-20, its revenue witnessed 13% CAGR, while PAT grew at 44% CAGR, led by EBITDA margin expansion from 12.5% in FY18 to 15.3% in FY20. RoE has been consistent and healthy at ~30%. At the CMP, the stock is valued at PE of ~37x of FY20 earnings and 27x FY21E on an annualized basis.: Hemang Jani, Head Equity Strategy, Broking & Distribution, Motilal Oswal Financial Servcies

    11:19 (IST)05 Mar 2021
    MTAR Technologies IPO subscribed 12.77 times so far on last day

    MTAR Technologies IPO has been subscribed 12.77 times so far on the last day of the bidding process, with retail investors subscribing their reserved portion the most, 19.31 times. QIBs have subscribed their reserved portion 1.09 times while non-institutional investors 13.12 times.

    11:17 (IST)05 Mar 2021
    Indian rupee near term range would be 72.50-74

    The intraday momentum in USDINR pair is like a roller coaster ride, the pressure in the offshore and global trend is pushing rupee above 73.00 levels. However, in the onshore, the pair strives to remain resilient in the face of inflows but the bottom seems forming near 72.30-72.50 levels that the pair has respected in the past. Nonetheless, USDINR bulls are active but any steep fall in rupee is likely to be capped near 73.50 levels amid channel of IPO's lined up in coming sessions, thereby attracting foreign investors. As the overall sentiments remain cautious, The near term rupee shall be well within 72.50-74.00 levels. With that, any dips below 72.80-72.90 levels can be taken for buying and upticks above 73.40 shall be utilized to sell for near term exposures.: Amit Pabari, managing director, CR Forex Advisors

    11:14 (IST)05 Mar 2021
    Kotak Mahindra Bank divests 10 pc stake in ECA Trading Services to its arm

    Kotak Mahindra Bank on Friday said it has divested 10 per cent stake in ECA Trading Services to one of its subsidiaries for nearly Rs 2 crore. Kotak Mahindra Bank has sold 1,09,48,925 equity shares of Rs 10 each (10 per cent of its stake) of ECA Trading Services Limited to Kotak Securities (a wholly-owned subsidiary of the bank), at a consideration of Rs 1.98 crore, it said in a regulatory filing.

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    11:07 (IST)05 Mar 2021
    Gold prices hit 11-month low, tumble 21% from all-time highs; watch these support levels in near term

    Gold prices extended losses on Friday on the account of the strengthening of the Indian rupee against the US Dollar. On MCX, gold April futures were trading Rs 317 or 0.71 per cent down at Rs 44,224 per 10 gram. On the other hand, silver May futures tumbled Rs 407 or 0.62 per cent to Rs 65,514 per kg on the Multi Commodity Exchange. MCX gold is likely to end on a bearish note for the third straight week, as the yellow metal prices have already declined over 3 per cent on a week-on-week basis.

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    10:51 (IST)05 Mar 2021
    Indian share market could see more volatility in short-term

    Nifty has shown indecisiveness over the last few sessions, as the index has formed a sequence of lower lows and higher highs, a sign of tussle between bulls and bears. With the earnings season behind and nothing much lined up on the data front domestically, Indian markets this week have taken cues from their global peers. NASDAQ and S&P 500 index have both broken below their 1 year trend line, US 10-year yield has climbed back above 1.5%, Dollar Index has risen above the 100-day moving average for the first time in 8 months, while metal prices have plunged over the last 2-3 sessions. These cross-market developments indicate that domestic markets could witness volatility in the short-term. Hence, one needs to implement a cautious stance going forward.: Abhishek Chinchalkar, CMT Charterholder and Head of Education, FYERS

    09:55 (IST)05 Mar 2021
    Heranba Industries shares make bumper listing on bourses, debut at 43% premium to IPO price

    Heranba Industries shares made a stellar listing on the stock exchanges today, unscathed by the mildly weak market sentiment. Shares of the company began trading at Rs 900 per share, up 43.54% from the IPO price of Rs 627 apiece. On listing, Heranba Industries was commanding a market capitalisation of Rs 3,600 crore. Global markets were jittery on Friday as bond yields in the United States rose again. The IPO of the company was oversubscribed 82 times with retail investors bidding for 11.84 times their portion, Non-Institutional Investors (NII) bid for a whopping 271 times and Qualified Institutional Buyers (QIB) subscribed their portion 67 times.

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    09:46 (IST)05 Mar 2021
    Nifty50 index support lies at 14,700; market in positive territory as long as this level is sustained

    This morning we have again opened with a gap down but this has not disturbed the current uptrend. The index has a good support at 14700 levels and as long as that holds, we are in positive territory. These falls can be strategically utilized to go long on the markets. The Nifty is facing resistance around the 15200-15300 levels. Once it gets past that, the next target should be 15500.: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    09:39 (IST)05 Mar 2021
    Sensex tumbles 400 points

    S&P BSE Sensex fell 400 points or 0.77 per cent to 50,454 dragged by sell-off in index-heavyweights such as Housing Development Finance Corporation (HDFC), State Bank of India, ONGC, RIL.

    09:27 (IST)05 Mar 2021
    Midcaps, smallcaps beat Sensex, Nifty

    Broader market outperformed equity benchmarks in today's trade. S&P BSE MidCap index was trading flat to negative at 20,971, while S&P BSE SmallCap index gained over half a per cent or 114 points to trade at 21,367

    Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
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