Share market Highlights: Sensex closes just above 49,200, Nifty ends at 14,557; HCL Tech, Infosys among top drags

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Updated: March 18, 2021 4:33:04 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: After surging higher earlier in the day, domestic markets turned weak with bond yields rising yet again. India VIX was below 20 on closing.

Share Market Today, Share Market LiveIndia VIX closed below 20 levels. (image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity markets ended deep in the red once again. Sensex closed at 49,216, giving up all intra-day gains and coming down from the high of 50,296. Nifty 50 closed 1.11% lower at 14,557. Infosys, HCL Technologies, Dr Reddy’s, and Reliance Industries were the worst-performing stocks on Sensex. Shares of ITC zoomed over 4%, making it the top Sensex gainer on the day. It was followed by Bajaj Auto and Bharti Airtel. India VIX moved higher from the lows during the day but ended just below 20 levels. Nifty FMCG and Nifty Metal were the only two sectoral indices to end in green. Nifty IT was down over 3% as the worst performing sectoral index.

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Highlights

    16:33 (IST)18 Mar 2021
    High volatility expected

    "The Indian equity market indices opened on a positive note on Thursday morning but shed those gains during the afternoon trading hours. The positive gains came on the backdrop of Mr Jerome Powell’s announcement on significantly positive outlook for US Economy’s outlook, success of the massive vaccination drive in USA and pledge to keep the benchmark overnight interest rate near zero.  The Indian equity market could not sustain its early gains and slumped during the day. There is expected to be a high level of volatility in the Indian stock market amidst the resurgence of Covid. The rise in the US Bond yields has remained a big area of concern and the investors are cautious given the past experience of “Taper tantrum”. But, the structural trend of strong economic recovery and growth remains intact, which is the most crucial parameter for a long-term investor," said Mohit Ralhan, Managing Partner and Chief Investment Officer, TIW Private Equity.

    16:31 (IST)18 Mar 2021
    Sensex, Nifty end in red for fifth consecutive day; have markets now reached the bottom?

    Domestic benchmark indices slipped into the red, after having begun the day’s trade in the positive territory. S&P BSE Sensex closed just above 49,200 while the 50-stock NSE Nifty ended down 1.11% at 14,557. The fall was led by IT stocks like HCL Technologies and Infosys, followed by index heavyweights like Reliance Industries. ICICI Bank, Kotak Mahindra Bank, HDFC Bank were also among the laggards. Volatility had inched higher during the day but as Sensex and Nifty recovered from intra-day lows, India VIX fell and closed below 20 levels. 

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    16:11 (IST)18 Mar 2021
    Yields keep markets on the edge

    "With US 10-year yield hitting their highest level in over a year, bears held the upper hand on Thursday even as the FED kept rates unchanged. Selling in Financials kept markets in the red with broader markets seeing profit booking in IT & Pharma stocks ahead of the FTSE rebalancing tomorrow," said S Ranganathan, Head of Research at LKP Securities.

    15:34 (IST)18 Mar 2021
    Closing bell

    Sensex and Nifty ended the day in red, giving up all gains made during the beginning of the day's trade. Nifty closed at 14,557 while Sensex was above 49,216.

    15:22 (IST)18 Mar 2021
    Volatility slips back into red

    India VIX or the fear gauge was once again in the red on Thursday. With minutes to go before the closing bell the volatility index was down 1.45%, sitting below 20 levels.

    15:19 (IST)18 Mar 2021
    ITC stock price zooms

    ITC is the top gainer on Sensex even through benchmark indices continue to remain weak. Shares of ITC surged 3.42% to trade at Rs 217 apiece.

    15:16 (IST)18 Mar 2021
    Sensex, Nifty trim losses

    Sensex regained 49,300 levels on Thursday, with just minutes to go before the closing bell. Nifty was nearing 14,600 as benchmark indices pared-off some losses.

    14:40 (IST)18 Mar 2021
    Sensex nears 49,200

    Sensex nears 49,200 as benchmark indices trim some losses. Nifty was just above 14,550.

    14:33 (IST)18 Mar 2021
    Trimming losses

    Sensex and Nifty seem to be trimming some losses and moving higher. Sensex was above 49,000 while Nifty regained 14,500 with less than an hour left in today's trade.

    14:20 (IST)18 Mar 2021
    Terrifying Thursday on D-Street

    Dalal Street, spooked by rising bond yields was in a free fall during the last few hours of trade. Nifty was below 14,500 while Snesex gave up 49,000.

    14:19 (IST)18 Mar 2021
    IPO Update

    Nazara Technologies IPO has been subscribed 7.82 times so far on the second day of bidding. "From the standalone cash flows, it is clearly seen that Nazara is a cash guzzler as it is continuously investing cash to acquire assets (games, IP, rights, licenses, gaming companies, etc). The moat for gaming is very thin - preferences can change overnight," said Aditya Kondawar, Founder and COO, JST Investments. 

    14:14 (IST)18 Mar 2021
    Nifty below support levels

    Nifty has slipped below 14,700 which could draw bears out and cause domestic markets to slip further if chartists are to be believed. Earlier today, Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said that Nifty needs to sustain above 14,700. "Until we do not break this level, the markets will not turn bearish," he added.

    13:59 (IST)18 Mar 2021
    Bind yield coming down by markets remain weak

    Bond yields were slipping from their highs but stock markets still weak and down in the red. US 10-year treasury yields were at 1.717%, down from 1.740%.

    13:57 (IST)18 Mar 2021
    Deep in red

    Infosys, Dr Reddy's and HCL Technologies are some of the worst-performing Sensex stocks at this hour. Infosys was down 2.8%, meanwhile the other two were down more than 2% each.

    13:23 (IST)18 Mar 2021
    Yields at their highest since December 2019

    Treasury yields surged to their highest since December of 2019. In 2020, amid the pandemic, yields had hit as low as 0.5%.

    13:20 (IST)18 Mar 2021
    Yields rise

    US 10-year treasury yields breached 1.7% on Thursday, pushing domestic markets down in the red. Yields had trimmed their gains after US Fed meeting yesterday. 

    13:19 (IST)18 Mar 2021
    Broader markets follow

    Broader markets were exhibiting the weakness seen in benchmark indices. Smallcap indices were nearly 1% down.

    13:18 (IST)18 Mar 2021
    Nifty gives up 14,700

    Nifty gave up 14,700 on Thursday as bears looked to regain control of domestic markets. Sensex was down 140 points. 

    13:10 (IST)18 Mar 2021
    Trading flat

    Sensex and Nifty are trading flat at this hour, but holding in the green. Nifty is below 14,750 while the Sensex is near 49,850.

    12:59 (IST)18 Mar 2021
    India ranks 56th globally in home price appreciation: Knight Frank

    India has moved down 13 spots in the latest global home price index to finish last at 56th rank in the quarter ended December 2020. Against its 43rd rank in Q4 2019, India saw a decline of 3.6% year-on-year (YoY) in home prices, leading to the drop in global position, according to Knight Frank’s Global House Price Index Q4 2020.

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    12:03 (IST)18 Mar 2021
    Kalyan Jewellers IPO closes today; issue subscribed 1.42 times, grey market premium remains tepid

    Kalyan Jewellers initial public offering (IPO) has been subscribed 1.42 times so far on the third and final day of the bidding process. The IPO has elicited mixed reactions from analysts with some asking investors to avoid the issue while others pinning a ‘Subscribe’ rating on the same. Even in the unlisted space, shares of Kalyan Jewellers have been trading with a tepid premium. Through the issue, Kalyan Jewellers is looking to raise Rs 1,175 crore. The IPO street is abuzz with multiple issues and many more expected ahead this year.

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    11:21 (IST)18 Mar 2021
    Sensex slips below 50,000

    Sensex has given up 50,000 but continues to trade with gains. Nifty was trading below 14,800.

    11:11 (IST)18 Mar 2021
    Nifty needs to hold above 14,700

    "Once again the markets have bounced from the lower end of the range which is 14,700. Until we do not break this level, the markets will not turn bearish. On the upside, there is resistance at 15,300. Sideways and choppiness will continue until this range is not surpassed. Patience is advised and hasty trading is strongly discouraged as an incorrect trade can be fatal," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

    10:13 (IST)18 Mar 2021
    Nifty hovering around resistance levels; buy these two stocks for near term gains

    After showing choppy movement in the last couple of sessions, Nifty finally slipped into a steep fall on Wednesday and closed the day lower by 189 points. After opening on a slightly positive note on Wednesday, Nifty started to show gradual weakness since opening. Intraday pullbacks of in-between have s and they are sold into rises. The Nifty closed near the low.

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    09:48 (IST)18 Mar 2021
    Petrol and diesel price today 18 March 2021: Rates remain unchanged; Check prices in Delhi, other cities here

    Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel remained unchanged once again. On March 18, the price of petrol and diesel across major cities was the same as yesterday, marking the eighteenth consecutive day on unchanged prices. Nation Capital Delhi was quoting a petrol price of Rs 91.17 per litre while Diesel in the city was priced at Rs 81.47 per litre. Fuel prices were highest in Mumbai a Rs 97.57 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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    09:24 (IST)18 Mar 2021
    Very good news for bulls

    "The outcome of the FOMC meeting is very positive for equity markets. Fed chief's comments that the accommodative monetary stance is appropriate and will continue through 2023 mean the ample liquidity condition & low-interest rate will sustain for an extended period of time. The better than expected news is the Fed raising US GDP growth to 6.5% and the clear message that inflation rate above 2% will be tolerated for some time. Very good news for the bulls! A concern in India is the second wave of Covid attack in parts of the country, particularly in Maharashtra. But, going by experiences this is unlikely to impact the market much. The second wave in the US & Europe, much less in intensity, didn't impact markets. In brief, "Advantage Bulls". FIIs are likely to resume buying in the days ahead. For retail investors, there is buying opportunity in quality financials, telecom & IT," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

    09:19 (IST)18 Mar 2021
    Opening Bell

    Sensex opened above 50,200 levels on Thursday morning while the 50-stock NSE Nifty was nearing the 14,850 mark.

    09:07 (IST)18 Mar 2021
    Indices surge higher

    Sensex and Nifty are marching higher during the pre-open session. Nifty was nearing 14,900 while Sensex was above 50,200 mark.

    09:03 (IST)18 Mar 2021
    Sensex crosses 50,000

    S&P BSE Sensex moved past the 50,000 mark and higher on Thursday morning as Sensex and Nifty soared amid positive global cues. 

    09:02 (IST)18 Mar 2021
    Opening Bell

    Sensex and Nifty zoomed during the pre-open session on Thursday morning. Nifty breached the 14,800 mark while Nifty was inching closed to regaining 50,000.

    08:52 (IST)18 Mar 2021
    SGX Nifty continues to surge

    Ahead of the pre-open session, SGX Nifty is up 183 points. Nifty futures continue to surge higher on Thursday morning. 

    08:43 (IST)18 Mar 2021
    Fed expects growth surge, inflation jump in 2021 but no rate hike

    The U.S. economy is heading for its strongest growth in nearly 40 years, the Federal Reserve said on Wednesday, and central bank policymakers are pledging to keep their foot on the gas despite an expected surge of inflation.

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    08:40 (IST)18 Mar 2021
    Stocks in focus: Bharti Airtel, Tata Motors, ITC, Reliance Industries, DLF, among others

    After four days of losses, domestic benchmark indices could reverse the trend today and march upwards. US Federal Reserve has maintained its dovish policy stance, helping Wall Street close at record highs. Asian markets were mirroring the move and moving higher on Thursday morning. On the charts, Nifty is near a crucial support zone of 14500-14450 levels, which could push the index higher. There is a possibility of an upside bounce from this cluster support in the next few sessions. The strength of the market during upside bounce could be important to hold on support and show sustainable bounce," said Nagaraj Shetti, Technical Research  Analyst, HDFC Securities.

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    08:10 (IST)18 Mar 2021
    Short-term trend weak, but markets nearing important support

    "The short term trend remains weak and the market is nearing important cluster support around 14500-14450 levels, as per daily/weekly timeframe charts. There is a possibility of an upside bounce from this cluster support in the next few sessions. The strength of the market during upside bounce could be important to hold on support and show sustainable bounce. Immediate resistance is placed at 14850," said Nagaraj Shetti, Technical Research  Analyst, HDFC Securities.

    08:02 (IST)18 Mar 2021
    Now, Centre seeks to control district mineral funds

    The Centre has inserted a new clause into the Mines and Minerals (Development and Regulation) Amendment Bill, 2021, to take control of the district mineral funds from the state governments. The amendment, part of many changes to the relevant Act cleared by the Cabinet last week and introduced in Parliament on Monday, could spark a political storm. Many would likely see it as yet another bid by the Narendra Modi government to usurp the states’ fiscal powers and undermine their constitutionally defined role in governance.

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    08:01 (IST)18 Mar 2021
    US Fed maintains dovish stance

    US Federal Reserve has maintained its dovish stance while projecting a stronger US Economy. Federal Reserve chair Jerome Powell said that inflation, although expected to rise this year, will fall back to 2%.

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