Active Stocks
Tue Apr 16 2024 15:59:30
  1. Tata Steel share price
  2. 160.05 -0.53%
  1. Infosys share price
  2. 1,414.75 -3.65%
  1. NTPC share price
  2. 359.40 -0.54%
  1. State Bank Of India share price
  2. 751.90 -0.65%
  1. HDFC Bank share price
  2. 1,509.40 0.97%
Business News/ Markets / Live Blog/  Sensex Today | Market Close Highlights : Sensex ends up 195pts, Nifty near 22,000; Metal, PSU Bank gain
BackBack

Sensex Today | Market Close Highlights : Sensex ends up 195pts, Nifty near 22,000; Metal, PSU Bank gain

Sensex Today | Market Close Highlights : Foreign institutional investors (FIIs) net sold shares worth 1,879.23 crore, while domestic institutional investors (DIIs) bought 1,827.45 crore worth of stocks on February 28, provisional data from the NSE showed.

Sensex Today | Market Close Highlights : The NSE F&O ban list for February 29 include Indus Towers, and SAIL. (Photo: Reuters)Premium
Sensex Today | Market Close Highlights : The NSE F&O ban list for February 29 include Indus Towers, and SAIL. (Photo: Reuters)

Sensex Today | Market Close Highlights : European shares opened slightly higher on Thursday, led by gains in materials stocks, while investors brace for key U.S. inflation data to gauge the outlook on global interest rate cuts.

The pan-European STOXX 600 was up 0.2% by 0820 GMT, while the benchmark Germany's benchmark DAX index notched another record high, rising 0.2%.

Chinese equities and most other regional stock markets climbed on Thursday, while the dollar held its ground against European rivals ahead of crucial U.S. inflation data that could provide fresh clues on when the Federal Reserve will cut interest rates.

Hong Kong's Hang Seng added 0.13%, Taiwan advanced 0.6%, and Australia gained 0.5%.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.22%.

Japan's Nikkei share average, though, ended the day down 0.11%, easing back a little further from the record high touched on Tuesday.

The yen gained as a Bank of Japan (BOJ) official hinted at the need to exit ultra-easy monetary stimulus.

Cryptocurrency bitcoin climbed back toward the more than two-year high of $63,933 touched overnight, following a three-day, 24% ascent.

Wall Street futures were largely flat, following declines for all three major indexes overnight. S&P 500 futures pointed down 0.04% and Nasdaq futures fell 0.06%.

Pan-European STOXX 50 futures added 0.06%.

Investors are wary ahead of the release later in the day of the Fed's preferred inflation gauge, the personal consumer expenditures (PCE) price index, after dialling back bets for a first rate cut to June. Thursday also sees inflation data from German states, France and Spain, ahead of the euro area's figures on Friday.

Mainland Chinese blue chips jumped more than 1%, recovering after a 1.27% slide in the previous session, amid hopes that more aggressive stimulus steps will emerge from next week's annual session of the National People's Congress, when the year's growth target will be set.

Benchmark U.S. 10-year Treasury yields were stable at around 4.28%.

Bitcoin was 4.2% higher at $63,120, after jumping to the cusp of $64,000 overnight for the first time since November 2021, and bringing the all-time high of $68,999.99 into sight.

Brent crude futures fell 14 cents, or 0.2%, to $83.54 a barrel. U.S. West Texas Intermediate crude futures were down 4 cents, or 0.1%, to $78.50 a barrel.

29 Feb 2024, 03:41:44 PM IST

Sensex Today Live : Sensex Today Live : Closing Bell

Sensex Today Live : Capping a day marked with choppy trading when the benchmark indices largely remained muted or down, Sensex and Nifty closed in the green.

Sensex, which had opened at 72,220.57, and which fell to a low of 72,099.32, recovered some ground to close higher. At close, it was up 195.42 points, or 0.27%, at 72,700.30.

IndusInd Bank, Mahindra & Mahindra, HCL Tech, Power Grid Corp., and Maruti Suzuki India, were the top gainers on the Sensex, while HUL, Airtel, Tata Motors, ITC, and Tech Mahindra, were the top losers.

Meanwhile, the Nifty 50, which had opened at 21,935.20, fell to a low of 21,860.65, during the day, but recovered at the end of the trading session on Thursday. At close, it was up 31.65 points, or 0.14%, at 21,982.80.

Adani Enterprises, Adani Ports & SEZ, IndusInd Bank, Tata Consumer Products, and Britannia, were the top gainers on the Nifty 50, while Apollo Hospital Enterprises, Bajaj Auto, LTIMindtree, Eicher Motors, and UPL were the biggest losers.

In the broader market, most indices had erased the day's losses to end the day in green, with the Midcap index up 0.5%, and the Smallcap index up 0.64%.

Meanwhile, Most sectoral indices ended the day in green, barring Media (down 0.9%), Healthcare (down 0.6%), and IT (down 0.06%). Amon the top gainers were PSU Bank (up 1.30%), and Metal (up 0.9%).

29 Feb 2024, 03:26:34 PM IST

Sensex Today Live : ICICI Securities gives sector update on the Hospitality industry

Sensex Today Live : Medium-term demand outlook remains positive

According to HVS Anarock, Jan’24 was another strong month for the hotel industry.

We note industry RevPAR of INR 5,628 was 15% above Jan’23 levels with ARRs being 12% higher YoY while occupancies were also up by 300bps YoY at 66-68%.

Along expected lines, demand was bolstered by MICE and weddings. We expect industry RevPAR growth to sustain at ~15% in the Feb-Mar’24 period (YTD Apr’23-Jan’24 RevPAR growth stands at 15%) and hence, expect FY24E to be another stellar year for the Indian hospitality industry.

With various industry estimates pegging industry supply CAGR at 5-6% over FY24-28E vs. demand CAGR at ~10%, we expect high single-digit ARR CAGR of 7-9% across hotels over FY24-26E with occupancies rising 100-200bps each in FY25E and FY26E.

Reiterate BUY on Indian Hotels and Chalet Hotels, and ADD on Lemon Tree Hotels.

29 Feb 2024, 03:21:18 PM IST

Sensex Today Live : Elara Securities India recommends to 'ACCUMULATE Container Corporation of India

Sensex Today Live : Rating: ACCUMULATE

Target Price : INR 1073

Upside : 12%

CMP : INR 955 (as on 28 February 2024)

EXIM recovery growth driver

Dadri ICD market booming on the back of industrial development

Outlook: reiterate Accumulate with a higher TP of INR 1,073

With EXIM market share stable at 55-60%, we believe focus will be on ramping up volume through competitive pricing by passing on economics of scale benefits to customers.

New initiatives, such as the MoU with Germany-based global logistics firm DB Schenker to provide end-to-end services in the EXIM segment also would lift performance.

Management is confident of 10% volume growth in EXIM in FY24 vs 7% in 9MFY24 and higher next year.

Segment EBIT margin remains healthy at 20%+. DFC connectivity with JNPT by 2025 would be incrementally positive.

We increase our earnings estimates by ~8% each for FY25 and FY26. We reiterate Accumulate with a higher TP of INR 1,073 from INR 940 based on 35x (from 33x) FY26E P/E.

29 Feb 2024, 03:18:18 PM IST

Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : Most sectoral indices had erased the day's losses and were trading in the green, barring Healthcare (down 0.8%), Media (down 0.9%), and IT (down 0.47%).

View Full Image
29 Feb 2024, 03:13:10 PM IST

Sensex Today Live : Broader market indices heat map

Sensex Today Live : The broader market had erased the day's losses to turn green, with the Midcap index up 0.3%, and the Smallcap index up 0.5%.

View Full Image
29 Feb 2024, 03:09:32 PM IST

Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : Tata Consumer Products, Adani Enterprises, Britannia, IndusInd Bank, and Mahindra & Mahindra, were the top gainers on the Nifty 50, while Apollo Hospital Enterprises, Bajaj Auto, LTIMindtree, Eicher Motors, and UPL were the biggest losers. 

View Full Image
29 Feb 2024, 03:05:49 PM IST

Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : Mahindra & Mahindra, IndusInd Bank, Maruti Suzuki India, Power Grid Corp., and Nestle India, were the top gainers on the Sensex, while Tech Mahindra, Tata Motors, ITC, HDFC Bank, and TCS, were the top losers. 

View Full Image
29 Feb 2024, 03:02:43 PM IST

Sensex Today Live : Sensex Today Live : 3 pm market update

Sensex Today Live : Indian benchmark indices were marginally down in the closing hour on Thursday, amid weak signals from global peers.

At 3 pm, Sensex was down 11.04 points, or 0.02%, at 72,293.84, and Nifty was down 32.65 points, or 0.15%, at 21,918.50.

29 Feb 2024, 02:47:07 PM IST

Sensex Today Live : PSU banks: Valuations steadily turning less attractive, says Kotak Institution Equities

Sensex Today Live : The current benign credit environment has supported asset quality for PSU banks and early warning indicators give us no reason to worry.

Given the swift re-rating of valuation multiples, we downgrade Canara (REDUCE) and PNB (SELL), while retaining ADD rating on BOB and Union Bank.

Slippages have declined across most segments for all PSU banks and early warning indicators are benign as well. At the same time, net NPA ratio has also declined closer to ~1.0% for the Tier-2 PSU banks, thereby reducing the requirement for incremental provisions. This drives our expectation of a meaningful decline in credit cost in FY2025E.

While bad loan recoveries are unlikely to decline sharply in FY2025E, they will decline eventually as the pool of bad loans ages and declines. This will inevitably put pressure on profitability, thereby making it difficult for the Tier-2 PSU banks to sustainably deliver better return ratios than SBI.

We continue to prefer SBI (retain BUY) as our preferred stock within the PSU bank space, while retaining an ADD rating on BOB and Union Bank.

We downgrade Canara Bank to REDUCE and PNB to SELL.

We have incorporated the recent equity capital raise by Union Bank in our model and tweaked estimates marginally.

We value the PSU pack as follows: SBI (~1.4X), BOB (~1.1X) and the rest (Canara, Union and PNB) at ~1.0X FY2026E BVPS (adjusted) while maintaining the same pecking order.

29 Feb 2024, 02:34:04 PM IST

Sensex Today Live : PFC rose 240% in 2023. Will the rally continue this year?

Sensex Today Live : In 2023, the markets had a stellar year, with almost all sectors posting respectable gains. Certain sectors, notably power, PSU, and financial stocks, outperformed the rest.

A standout performer that straddled all three sectors was Power Finance Corp (PFC), which saw an impressive surge of about 240% in its stock price in 2023, driven by several robust factors. Given this extraordinary performance, it’s only natural to question whether this upward trend can be maintained.

The year 2024 has so far presented a mixed picture for the stock. It continued its upward trajectory from the previous year, rising about 16% in January. However, it has experienced a dip of about 7% this month.

Which brings us to the question: Is the rally over? (Read the full story here.)

29 Feb 2024, 02:20:04 PM IST

Sensex Today Live : Platinum Industries IPO oversubscribed on day 3 led by NII, retail investors; check GMP, subscription status, key dates

Sensex Today Live : The Initial Public Offering (IPO) of Platinum Industries continues to receive a robust response from investors on its third day. As per the data from BSE, the subscription status of Platinum Industries IPO stands at 36.89 times at 12:54 IST.

On this third day, the retail segment of the Platinum IPO has been oversubscribed 36.84 times. The Non-Institutional Investor (NII) segment has seen a booking of 80.60 times, while the portion reserved for Qualified Institutional Buyers (QIBs) has been subscribed 4.18 times. (Read the full details here.)

29 Feb 2024, 02:02:32 PM IST

Sensex Today Live : Sensex Today Live : 2 pm market update

Sensex Today Live : Indian benchmark indices were flat to muted in the afternoon on Thursday, amid weak signals from global peers.

At 2 pm, Sensex was up 135.08 points, or 0.19%, at 72,439.96, and Nifty was up marginally by 15.45 points, or 0.07%, at 21,966.60.

29 Feb 2024, 01:52:16 PM IST

Sensex Today Live : SoftBank cuts 2.17% stake in Paytm, stock down 4%

Sensex Today Live : Japanese investment firm SoftBank Group Corporation has reduced its stake in the Indian fintech company Paytm by 2.17 percent. This divestment was recorded in an exchange filing on February 29, Reuters reported.

In September 2022, SoftBank held a 17.5 percent stake in Paytm. However, it now owns just 2.83 percent of the Indian payments startup, a significant decrease from the previous 5.01 percent. This trend of reducing ownership has been observed for over a year, with the latest reduction happening in January 2024.

SoftBank had sold a part of its stake before the regulatory scrutiny that led to a sharp fall in Paytm’s share prices. This information was shared by the executive managing partner of the Vision Fund, as reported by Bloomberg. (Read the full report here.)

29 Feb 2024, 01:38:20 PM IST

Sensex Today Live : Mint Explainer: All you need to know about the $8.5-bn Disney-Reliance merger

Sensex Today Live : Following a period of anticipation, Reliance announced on Wednesday evening its decision to consolidate its entertainment business with those of Walt Disney in India. This merger will result in a media giant valued at $8.5 billion (over 70,000 crore), boasting over 100 linear TV channels, two major streaming platforms – Disney+Hotstar and JioCinema – and an extensive content library.

In accordance with the agreement, Disney will relocate all its Indian assets and personnel — excluding its 30% share in the direct-to-home (DTH) firm Tata Play, its consumer products division, and the VFX studio Industrial Light & Magic (ILM) — to its fully owned subsidiary, Star India. (Read the full story here.)

29 Feb 2024, 01:16:09 PM IST

Sensex Today Live : Elara Securities India bullish on Pearl Global Industries

Sensex Today Live : Pearl Global Industries Rating: NOT RATED

CMP : INR 670 (as on 28 February 2024)

Global demand has been under pressure due to higher inventory build-up in the US and inflationary pressure across the key markets.

Expect demand to improve going forward after a year of weakness and inventory to correct to normal levels.

Pearl Global Industries (PGIL IN, Not Rated) is well set to gain market share in global apparel sourcing due to its wide product range, multi-location manufacturing facilities and strong customer relationships.

PGIL plans to expand its capacity to 120-140mn pieces by FY28 from 82mn pieces currently.

PGIL expects an indicative capex (in the current mix) of INR 4,500-5,500mn to prop capacity expansion through FY24-28.

It plans to almost double its revenue to INR 60bn by FY28 through capacity expansion and via customer penetration and expansion.

PGIL expects its EBITDA margin to improve to 10-12% by FY28. With higher capacity utilization and improving margin, the company expects ROCE to sustain at 18-20%.

Expect PGIL’s expansion strategy across all geographies to improve its margin through leveraging the strengths of each location.

PGIL(Not Rated) trades at P/E of 16.8x and EV/EBITDA of 10.2x on TTM FY24 basis.

29 Feb 2024, 01:02:46 PM IST

Sensex Today Live : 1 pm market update

Sensex Today Live : Indian benchmark indices were flat to muted in the afternoon on Thursday, amid weak signals from global peers that were awaiting a raft of inflation and GDP figures across countries.

At 12 pm, Sensex was up 70.37 points, or 0.10%, at 72,375.25, and Nifty was down marginally by 3.80 points, or 0.02%, at 21,947.35.

29 Feb 2024, 12:57:06 PM IST

Sensex Today Live : Venus Pipes & Tubes Ltd. announces capex worth ₹175 Crores; set to enter the fittings segment; shares up more than 5%

Sensex Today Live : The manufacturer and exporter of stainless steel pipes and tubes has announced its entry into the Fittings segment and plans to expand its capacity for Seamless & Welded Pipes & Tubes. Commenting on the expansion, Mr Arun Kothari, MD, Venus Pipes & Tubes Ltd., said, “I am pleased to share the next phase of growth for Venus Pipes & Tubes, by foraying into value added product lines such as fittings and capacity expansion for Welded & Seamless Pipes and Tubes".

Product Range: The offerings include a wide array of fittings such as elbows, tees, reducers, joints, flanges, etc., tailored to meet the specific needs of diverse industries and applications.

Capacity Expansion: Value-added Welded Tubes. The company is launching a unique product line of stainless and titanium welded tubes to boost its competitiveness and profitability. The company plans to produce both Hygienic SS & Titanium grade tubes, enabling it to branch out into sectors requiring critical applications like food processing, pharmaceuticals, nuclear, and power.

Phases of Expansion:

Phase 1: Involves capacity expansion for the establishment of value-added Fittings & Welded Tubes, slated for completion by March 2025.

Phase 2: Entails capacity expansion for the establishment of value-added Fittings, Welded / Seamless - Pipes / Tubes, expected to be completed by December 2025.

Funding Details:

40% of the funding will be through warrants issued to Promoters & others.

The remaining 60% will be financed through term loans from Banks & internal accruals.

29 Feb 2024, 12:44:55 PM IST

Sensex Today Live : Owais Metal and Mineral Processing IPO allotment to be out soon; GMP, steps to check Owais Metal IPO allotment status

Sensex Today Live : The share allotment for the Initial Public Offering (IPO) of Owais Metal and Mineral Processing is scheduled to be finalized today, February 29. Investors who have applied for the issue can verify their allotment status on the IPO registrar portal of Owais Metal and Mineral Processing, managed by Bigshare Services Pvt Ltd.

Investors can determine the number of shares they have been allocated through the basis of allotment, which is also reflected in the IPO allotment status. The company will commence the refund process for applicants who have not been allocated any shares on Friday. Investors who have been allocated shares will also have them credited to their demat accounts on Friday, March 1. (Check full details here.)

29 Feb 2024, 12:33:24 PM IST

Sensex Today Live : Exicom Tele Systems IPO day 3: GMP, subscription status, review, other details. Apply or not as bidding ends today?

Sensex Today Live : Exicom Tele Systems Limited’s initial public offering (IPO) commenced on February 27, 2024, and is set to conclude today, February 29, 2024. After two days of bidding, the company’s public issue has been oversubscribed by 27.78 times.

As the bidding period draws to a close, the grey market remains optimistic about Exicom Tele Systems’ IPO. Market analysts report that the grey market premium (GMP) for Exicom Tele Systems’ IPO stands at 179 today, representing a substantial increase of approximately 126% over the IPO price range of 135 to 142 per share.

Despite significant selling pressure in the secondary market on Wednesday, the GMP for Exicom Tele Systems’ IPO has seen a surge today. Analysts attribute this bullish sentiment in the grey market to a robust response from investors. (Read full details here.)

29 Feb 2024, 12:19:54 PM IST

Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : Across sectors, Metal, Auto and FMCG indices were in the green, while Media and Healthcare indices were down the most.  

View Full Image
29 Feb 2024, 12:15:09 PM IST

Sensex Today Live : Broader market indices heat map

Sensex Today Live : In the broader market, the Midcap index was in the green, up 0.17%, while the smallcap inx was down 0.73%.

View Full Image
29 Feb 2024, 12:12:29 PM IST

Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : Apollo Hospital Enterprises, Bajaj Auto, LTIMindtree, Eicher Motors, and UPL were the biggest losers on the Nifty 50, while Mahindra & Mahindra, Adani Enterpirses, Tata Consumer Products, and Adani Ports & SEZ, were the biggest gainers. 

View Full Image
29 Feb 2024, 12:09:30 PM IST

Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : Mahindra & Mahindra, Maruti, Nestle, Titan, and Asian Paints were the biggest gainers on the Sensex, while Axis Bank, Sun Pharma, HDFC bank, Tata Motors, and HUL, were the biggest losers. 

View Full Image
29 Feb 2024, 12:03:01 PM IST

Sensex Today Live : 12 pm market update

Sensex Today Live : 12 pm market Indian benchmark indices were flat or muted at noon on Thursday, amid weak signals from global peers that were awaiting a raft of inflation and GDP figures across countries.

At 12 pm, Sensex was up 72.54 points, or 0.10%, at 72,377.42, and Nifty was flat at 21,951.15.

29 Feb 2024, 11:54:36 AM IST

Sensex Today Live : Mahindra Logistics expands fulfilment operations in West Bengal

Sensex Today Live : Mahindra Logistics Limited, a provider of integrated logistics solutions, is poised to broaden its presence in West Bengal by initiating operations at a 1.1 lakh sq. ft. fulfilment centre in Malda, dedicated to managing fulfilment and last-mile deliveries.

The company is also incorporating 14 last-mile delivery stations into its network, reaching approximately 15,000 households daily. The network expansion is designed to cater to grocery and e-commerce customers, which include fulfilment, express, mid-mile, and last-mile services.

The centre will cater to Northern West Bengal, Eastern Bihar, and parts of the Northeast, with a daily processing capacity of 10,000 orders and an inventory capacity of over 15 lakh units.

The expansion increases the company's warehousing footprint in West Bengal to 3.3 lakh sq. ft. and allows Mahindra Logistics to offer full truck load, part truck load, and integrated services to nearly 2,000 pin codes in the region.

Mr. Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics, commented on the commencement of operations, stating, "Our new facility in Malda is strategically located near demand centres, enabling us to serve our customers with end-to-end fulfilment and last-mile delivery solutions."

29 Feb 2024, 11:43:33 AM IST

Sensex Today Live : Mukka Proteins IPO opens: GMP, issue details, 10 key things to know before investing to ₹224-crore issue

Sensex Today Live : Mukka Proteins Ltd, a producer of fish protein products, is set to open its IPO for subscription on Thursday, February 29. The company’s product line includes fish meal, fish oil, and fish soluble paste, all of which are essential ingredients in the manufacture of aqua feed, poultry feed, and pet food. In addition, fish oil finds application in the production of soap, leather tanning, paint, and pharmaceutical products. (Read the full story here.)

29 Feb 2024, 11:29:18 AM IST

Sensex Today Live : Bajaj Auto share buyback: Price, record date, ratio, other details. How to apply online

Bajaj Auto shares are being traded ex-buyback today. The Indian automotive giant has informed the Indian stock exchanges that the record date for the Bajaj Auto buyback has been set for today, 29th February 2024. 

This implies that shareholders who retain their Bajaj Auto shares after today’s trading session will be eligible to participate in the Bajaj Auto share buyback. 

The company has announced a share buyback through the tender offer route, with the buyback price set at 10,000 per share, approximately 25% higher than today’s Bajaj Auto share price (around 8,000 per share).

The company has stated in its communication to the exchanges, “… We are informing about the decision of the board of directors and the members of the Company to buyback up to 40,00,000 (Forty Lakhs) fully paid-up equity shares of the Company, each with a face value of 10, at a price of 10,000/- (Rupees Ten Thousand Only) per equity share. The total amount for the buyback will not exceed 4,000 crore (Rupees Four Thousand Crore Only), excluding transaction costs, applicable taxes, and other incidental and related expenses (“Buyback")."

29 Feb 2024, 11:15:25 AM IST

Sensex Today Live : Tata to announce semiconductor unit 'soon', says Chairman N Chandrasekaran

Sensex Today Live : N. Chandrasekaran, Chairman of Tata Sons, said on February 28 that the conglomerate is preparing to announce a significant investment in a semiconductor chip fab in the near future, reported Economic Times.

Chandrasekaran, discussing the group’s progressive strategy, mentioned investments in Air India and the electronics and semiconductor industry. However, he did not disclose any specific plans for the semiconductor manufacturing facility, while delivering the 20th Anantharamakrishnan Memorial lecture on ‘India’s Leadership in a Pivotal Decade’, after being honored with the MMA-Amalgamations Business Leadership Award 2023.

As per recent reports, the Tata Group has been considering collaborations with major Taiwanese chipmakers, such as Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group, for the proposed chip fabrication plant in Dholera, Gujarat.

29 Feb 2024, 11:02:32 AM IST

Sensex Today Live : 11 am market update

Sensex Today Live : Indian benchmark indices were down amid weak signals from global peers that were awaiting a raft of data across countries.

At 11 am, Sensex was down 107.61 points, or 0.15%, at 72,197.27, and Nifty was up 62.45 points, or 0.28%, at 21,888.70.

29 Feb 2024, 10:57:50 AM IST

Sensex Today Live : Buy or Sell - Osho Krishan from Angel One suggests purchasing stocks of Samvardhana Motherson and Hindustan Unilever today

Sensex Today Live : The domestic benchmark equity indices, the Sensex and the Nifty 50, started Thursday’s session on a neutral note due to varied global indicators. The BSE Sensex opened at a lower level of 72,220.57, down by 84.31 points or 0.12%, while the Nifty 50 opened at a level of 21,935.20, down by 16 points or 0.07%.

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, commented on the market’s unpredictability amidst high volatility. He noted that the resistance at the Nifty 22,200 level has strengthened. Despite the foreign institutional investor (FII) selling being offset by domestic institutional investors (DII) buying, the Nifty 50 experienced a significant drop of more than 1% yesterday. This is attributed to the rebalancing of positions a day before the monthly expiry. He further added that the volatility is expected to persist today, being the last day of the monthly expiry, and advised investors to possibly wait until the volatility decreases. (Read the full story here.)

29 Feb 2024, 10:47:27 AM IST

Sensex Today Live : Shriram Finance share price gains on Nifty 50 inclusion; Jio Finance up 3%, UPL shares down 1%

Sensex Today Live : Shriram Finance’s stock price surged by over 4% in early trading on Thursday, following the announcement that it will take UPL’s place in the Nifty 50 index starting March 28. In contrast, UPL’s shares saw a decline of more than 1% after the news.

In addition, Jio Financial Services experienced a more than 3% increase in share prices due to its inclusion in the Nifty Next 50 index.

The NSE Indices confirmed that Shriram Finance has been incorporated into the Nifty 50 index, replacing UPL Ltd, as a result of its superior 6-month average free-float market capitalization within the eligible pool. (Read the full story here.)

29 Feb 2024, 10:32:30 AM IST

Sensex Today Live : NSE indices rejig - Shriram Finance to see $200 million inflows, Jio Finance to get $89 million on reshuffle in indices

Sensex Today Live : Nuvama Institutional Equities estimates that Shriram Finance’s inclusion in the Nifty 50 index, after replacing UPL, will result in a net inflow exceeding $200 million. This influx corresponds to a 6-day volume impact and the acquisition of 7.1 million shares of Shriram Finance.

Conversely, UPL is projected to experience a $100 million outflow, equivalent to a 3.5-day volume impact and a reduction of 17.5 million shares.

The NSE Indices’ semi-annual broad market indices review revealed that Shriram Finance has been incorporated into the Nifty 50 index, supplanting UPL Ltd, due to its superior 6-month average free-float market capitalization within the eligible pool. These modifications will be implemented from the close of March 27, 2024, and will take effect from March 28, 2024. (Read the full story here.)

29 Feb 2024, 10:15:20 AM IST

Sensex Today Live : NTPC arm ties up with Maharashtra State Power Generation Company for development of Renewable Energy Parks in Maharashtra

Sensex Today Live : NTPC Green Energy Limited, a wholly owned subsidiary of NTPC Limited, has signed a Joint Venture Agreement with Maharashtra State Power Generation Company Limited (MAHAGENCO), for development of renewable energy parks in Maharashtra. The company to be set up under the joint venture will develop GW-scale renewable energy parks and undertake projects of this scale in a phased manner.

NTPC Group has ambitious plans of attaining 60 GW of renewable energy capacity by the year 2032. Currently, it has 3.4 GW of installed RE capacity and more than 22 GW under pipeline.

29 Feb 2024, 10:02:07 AM IST

Sensex Today Live : 10 am market update

Sensex Today Live : Although having opened in the red on Thursday, Indian benchmark indices were seen climbing higher in early trades, despite weak signals from global peers that were awaiting a raft of data across countries.

At 10 am, Sensex was up 284.49 points, or 0.39%, at 72,589.37, and Nifty was up 58.75 points, or 0.27%, at 22,009.90.

29 Feb 2024, 09:54:40 AM IST

Sensex Today Live : Small-caps sneeze, markets catch a cold

Sensex Today Live : Concerns over a potential asset bubble in small-cap stocks swept across the market on Wednesday, pulling down both the benchmark indices and the wider markets. This occurred just a day ahead of the expiration of the February series of derivatives.

The sell-off primarily impacted small-cap and midcap stocks, following reports that a worried market regulator had requested stress tests for mutual funds’ small-cap schemes. Additionally, a prominent fund house halted incremental flows into small-cap schemes.

Both the Nifty and Sensex experienced a drop of slightly over 1 percent, breaking the psychological thresholds of 22,000 and 73,000 to reach 21951.15 and 72304.88 respectively. This was due to foreign portfolio investors (FPIs) and retail investors selling off a provisional 1879.23 crore and 200 crore respectively. (Read the full story here.)

29 Feb 2024, 09:41:31 AM IST

Sensex Today Live : Brightcom Group’s shares, in the negative for four consecutive days, dropped nearly 5% in early trades on Thursday

Sensex Today Live : The Securities and Exchange Board of India (SEBI) has issued a confirmatory order against Brightcom Group due to fraudulent activities in the preferential allotment of shares. The group’s promoter and CMD, M Suresh Kumar Reddy, has been barred from purchasing, selling, or dealing in securities, either directly or indirectly. He is also prohibited from holding directorial or key managerial positions in Brightcom Group or its subsidiaries. The CFO, Narayan Raju, is similarly restricted from holding the position of a director or a key managerial person. The directive against Shankar Sharma, which prevented him from disposing of his shares, has been lifted.

Over the past month, the company's stock has declined of 17.62%.

29 Feb 2024, 09:32:41 AM IST

Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : Barring Auto, PSU Bank, Oil & Gas, and Metal, all sector indices were in the red in early trades on with Media down 1.75%. Nifty Bank was down 0.14%.

View Full Image
29 Feb 2024, 09:29:59 AM IST

Sensex Today Live : Broader market indices heat map

Sensex Today Live : Continuing their downward trend from Wednesday, the broader market indices were under pressure in early trades on Thursday.  

View Full Image
29 Feb 2024, 09:24:18 AM IST

Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : Bajaj Auto, UPL, BPCL, Cipla, and Power Grid Corp., were the top losers on the Nifty 50, while Reliance Industries, SBI, Mahindra & mahindra, Hero MotoCorp, and Titan were gaining in early trades. 

View Full Image
29 Feb 2024, 09:22:04 AM IST

Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : Reliance Industries, NTPC, SBI, IndusInd Bank, and Bajaj Finserv were the top gainers on Sensex in early trade, while Nestle, UltraTech Cement, TCS, Infosys, and Tata Motors, were the top losers. 

View Full Image
29 Feb 2024, 09:18:38 AM IST

Sensex Today Live : Opening Bell

Sensex Today Live : Indian benchmark indices opened in the red on Thursday, amid weak signals from global peers that were awaiting a raft of data across countries.

Sensex opened 69.44 points, or 0.10%, down at 72,235.44 and Nifty opened 36.45 points, or 0.17%, at 21,914.70.

29 Feb 2024, 09:11:30 AM IST

Sensex Today Live : Sensex, Nifty red in pre-open

Sensex Today Live : Indian benchmark indices fell at pre-open on Thursday, amid weak signals from global markets that were awaiting a slew of data across countries.

Sensex was down 84.31 points, or 0.12%, at 72,220.57 and Nifty was down 15.95 points, or 0.07%, at 21,935.20 during pre-open.

29 Feb 2024, 08:58:22 AM IST

Sensex Today Live : Reliance Securities gives technical outlook for Bank Nifty

Sensex Today Live : BANK NIFTY continued to underperform the broader markets and PSU banks leading the negative momentum to close below the 20 day average.

On the higher side 47,000 will act as resistance and on the downside support is placed at 46,100 being the 20 day average.

RSI is trending near to its average line and we expect the momentum to continue to test the lower band over the next few days.

Bank Nifty highest call OI is at 46,500 levels while on the downside put OI is at 45,500 levels for the monthly expiry.

29 Feb 2024, 08:55:39 AM IST

Sensex Today Live : Reliance Securities gives technical outlook for Nifty-50

Sensex Today Live : Nifty-50 has broken on the downside from its inside range with sharp unwinding in put options of various strikes and closed lower for the day.

The close is near the 20 day average and sustenance below 22,000 levels would witness further pressure in index pivotal.

RSI is reversing downwards on daily charts and retraced back to the support of the lower range and other key technical indicators are in oversold on hourly charts.

Highest call OI has moved lower to 22,000 strike while on the downside the highest put OI is at 21,500 for the monthly expiry.

29 Feb 2024, 08:50:28 AM IST

Sensex Today Live : Reliance Industries' shares in focus today as it moves to merge its media operations with Walt Disney's India operations

Sensex Today Live : On February 28, Reliance Industries Ltd (RIL), led by billionaire Mukesh Ambani, and global media giant Walt Disney, announced their decision to merge their media operations in India. This merger will create a media powerhouse valued at 70,352 crore. As part of this agreement, Viacom18’s media business will be integrated into Star India through a court-approved arrangement, the conglomerate said in an exchange filing. After completion of this deal, Reliance will hold a 16.34% stake in the joint venture, Viacom 46.82%, and Disney will hold 36.84%. Nita Mukesh Ambani will be the chairperson of the JV, with Uday Shankar as vice-chairperson. (Read the full story here.)

29 Feb 2024, 08:45:55 AM IST

Sensex Today Live : Stocks to Watch Today

Sensex Today Live : Reliance Industries, Shriram Finance, UPL, Vodafone Idea, PB Fintech, are some stocks likely to be in focus in today's trading session.

29 Feb 2024, 08:34:03 AM IST

Sensex Today Live : What to expect from Indian stock market in trade on February 29

Sensex Today Live : Investors in the Indian stock market are likely to tread carefully on Thursday, the day of the monthly derivatives expiry, in light of the weak cues from the global market and the significant correction observed in the benchmark indices Sensex and Nifty 50 during the last session.

The Gift Nifty trends suggest a slightly positive opening for the Indian benchmark index. The Gift Nifty was seen trading around the 21,960 mark, a rise of over 30 points from the previous close of Nifty Futures.

On Wednesday, the domestic benchmark indices concluded with a decline of more than a percent, with the Nifty 50 dropping below the 22,000 mark just before the monthly expiry.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, stated, “From a technical perspective, this pattern indicates a trend reversal towards the downside, and one might anticipate further short-term weakness. The positive chart pattern of higher tops and bottoms remains intact, and the current weakness could align with the new higher bottom of the pattern. The next critical lower levels to monitor are around 21,800 and 21,700 (ascending trend line and 10-week EMA)." (Read the full story here.)

29 Feb 2024, 08:20:16 AM IST

Sensex Today Live : Eight key things that changed for market overnight - Gift Nifty, US GDP to Bitcoin price rally

Sensex Today Live : On Thursday, domestic equity indices will likely commence trading with caution due to the frailty observed in global counterparts, as investors keep a close eye on significant economic data releases.

Overnight, Asian markets experienced a downturn, and US stock indices concluded trading in negative territory, all awaiting crucial US inflation figures. The GDP growth for the US’s fourth quarter was marginally downgraded, while the GDP data for India’s third quarter of FY24 is slated for release today.

Investors will be particularly interested in the US Personal Consumption Expenditures (PCE) price index, which is the US Federal Reserve’s favored measure of inflation. This data will provide insights into the potential timing of a Fed interest rate reduction. (Read the full story here.)

29 Feb 2024, 08:06:10 AM IST

Sensex Today Live : Global peers retreat, Gift Nifty signals muted start for Indian benchmarks

Sensex Today Live : Gift Nifty, trading at 21,955.50 at 7:52 am on Thursday, marginally ahead of Nifty 50's close of 21,951.15 on Wednesday, indicated a bearish start for benchmark indices in India in today's trading session.

South Korean shares fell on Thursday tracking Wall Street's overnight losses ahead of U.S. inflation data, and were set to end a five-week winning streak. The won weakened, while the benchmark bond yield rose.

The benchmark KOSPI fell 19.64 points, or 0.74%, to 2,632.65 by 0116 GMT.

A global equities index fell slightly on Wednesday while Treasury yields edged down and the dollar rose against a basket of currencies as investors were wary the day before U.S. inflation data that could influence Federal Reserve policy.

January's U.S. personal consumption expenditures price index (PCE), the Fed's preferred inflation measure, is due on Thursday.

MSCI's gauge of stocks across the globe shed 0.33%.

On Wall Street the Dow Jones Industrial Average finished down 23.39 points, or 0.06%, at 38,949.02.

The S&P 500 dropped 8.42 points, or 0.17%, to 5,069.76 while the Nasdaq Composite closed down 87.56 points, or 0.55%, at 15,947.74.

European stocks dipped as lackluster corporate earnings weighed on sentiment with the pan-European STOXX 600 index closing down 0.35%.

The dollar index, which measures the greenback against a basket of major currencies, rose 0.1% to 103.94.

The euro was down 0.08% at $1.0835. Against the Japanese yen, the dollar strengthened 0.12% at 150.69.

U.S. Treasuries yields slid across the board with yields on benchmark U.S. 10-year notes falling 4.7 basis points to 4.268%, from 4.315% late on Tuesday, while the 30-year bond yield fell 3.5 basis points to 4.4047% from 4.44%.

Download the App to get 14 days of unlimited access to Mint Premium absolutely free!

Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App