Sensex Today | Market Close Highlights : Sensex ends down 195pts, Nifty at 22,350; PSB, Auto index up, IT, FMCG, fall
- Sensex Today | Market Close Highlights : Foreign institutional investors (FIIs) net sold shares worth ?564.06 crore, while domestic institutional investors (DIIs) bought ?3,542.87 crore worth of stocks on March 4, provisional data from the NSE showed.
Sensex Today | Market Close Highlights : European shares moved lower on Tuesday as pledges by China to transform its economy amid stuttering growth failed to impress investors, while markets grew cautious ahead of a string of euro zone and U.S. economic data.
The pan-European STOXX 600 was down 0.3% by 9:10 GMT, after settling just below all-time highs on Monday.
Most Asian stocks slid on Tuesday, led by sharp declines in Hong Kong as the start of China's week-long annual session of parliament disappointed investors with its lack of big ticket stimulus plans to prop up the struggling economy.
Equity markets in the region were already on the back foot following a retreat from record highs on Wall Street on Monday, amid signs the U.S. Federal Reserve is in no hurry to cut interest rates. U.S. stock futures also pointed lower.
The Chinese government retained last year's target for economic growth of "around 5%" for this year, and announced plans to run a budget deficit of 3% of economic output, down from a revised 3.8% last year.
It also unveiled plans to issue 1 trillion yuan ($139 billion) in special ultra-long term treasury bonds, which are not included in the budget.
Mainland stocks reversed early losses with the blue-chip CSI 300 up about 0.45% by 0600 GMT, amid signs of suspected state-backed buying of some exchange-traded funds.
However, that failed to lift other markets in the region with Hong Kong's Hang Seng deepening earlier declines to 2.67%. MSCI's broadest index of Asia-Pacific shares outside Japan lost 1%.
Tokyo finished flat, a day after Japan's benchmark Nikkei index hit a record high, closing above 40,000 points for the first time.
South Korean shares fell nearly 1% as chipmakers and automakers dropped after their recent rallies, while battery firms also tracked U.S electric-vehicle Tesla's sharp losses.
The benchmark KOSPI ended down 0.93% to 2,649.40, logging its biggest daily percentage loss since Feb. 14. on the back foot following a retreat from record highs on Wall Street on Monday, on signs the U.S. Federal Reserve is in no hurry to cut interest rates. U.S. stock futures also pointed lower.
The Chinese government retained last year's target for economic growth of "around 5%" for this year, and announced plans to run a budget deficit of 3% of economic output, down from a revised 3.8% last year.
It also unveiled plans to issue 1 trillion yuan ($139 billion) in special ultra-long term treasury bonds, which are not included in the budget.
Early announcements from the NPC suggest "large fiscal stimulus is off the table for now," said James Kniveton, senior corporate FX dealer at Convera.
The Shanghai Composite Index was trading flat after recovering early losses, but Hong Kong's Hang Seng deepened early declines to slump 2.4%.
Japan's Nikkei slid 0.42% after reaching a fresh peak on Monday.
MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.7%.
Elsewhere, crude oil continued to tick lower, as demand headwinds counterbalanced a widely expected extension of voluntary output cuts through the middle of the year by the OPEC producer group.
Brent futures were off 10 cents to $82.70 a barrel, while U.S. West Texas Intermediate (WTI) eased 17 cents to $78.57 a barrel.
Sensex Today Live : What to expect from Indian stock market in trade on March 5
Sensex Today Live : The Indian stock market indices, Sensex and Nifty 50, are predicted to have a subdued start on Tuesday, influenced by weak signals from global peers. On Monday, the domestic equity indices experienced a slight increase, marking their new closing highs and continuing the upward trend for the fourth session in a row. The Sensex rose by 66.14 points to end at 73,872.29, while the Nifty 50 increased by 27.20 points, or 0.12%, to settle at 22,405.60.
The Nifty 50 chart showed a small candle formation for the day, with minor shadows at both ends.
?From a technical perspective, this pattern signifies the creation of a doji pattern. Such patterns typically suggest a consolidation or a reversal following a significant rise, upon confirmation. Given that this pattern has formed near the new highs, a slight drop or intraday fluctuations should be anticipated in the short term,? stated Nagaraj Shetti, a Senior Technical Research Analyst at HDFC Securities. (Read the full story here.)
Sensex Today Live : Six key things that changed for market overnight - Gift Nifty, China?s GDP to rise in US bond yields
Sensex Today Live : On Tuesday, the domestic equity indices are likely to start on a muted note due to weak cues from the global market. Asian markets are trading lower, and the US stock market indices ended in negative territory overnight, awaiting crucial economic data. Market players seem to be exercising caution in anticipation of Powell's two-day congressional testimony later this week, the decision on policy by the European Central Bank, and the Labor Department's important jobs report for February.
China's "Two Sessions" meeting commenced today, with the country setting an ambitious GDP growth target of "around 5%" for 2024 and projecting the inflation rate to rise to "around 3%."
Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd, stated, "Considering the positive domestic sentiments, we anticipate the market momentum to persist over the next few days with Nifty likely advancing towards the 22,500 zones. However, the broader market may face pressure due to profit booking and an unfavorable advance-decline ratio. Therefore, we advise traders to exercise selectivity when dealing with mid/small caps." (Read the full story here.)
Sensex Today Live : Gift Nifty indicates muted to positive start for Indian benchmarks
Sensex Today Live : With Gift Nifty futures trading ahead by 100 points from Monday's Nifty close, Indian benchmarks looked all set to start on a positive note, but concerns about the China's moves to stabilize its economy could prove to be a dampener for markets elsewhere.
At 7:40 am, Gift Nifty futures was trading at 22,495, nearly a 100 points ahead of Monday's Nifty close of 22,405.60.
Wall Street stocks closed lower on Monday, backing away from record highs, while U.S. Treasury yields ticked higher as investors looked ahead to key jobs data and Federal Reserve Chair Jerome Powell's congressional testimony later in the week.
After European stocks backed off from record highs, the major U.S. equity indexes followed suit, failing to eke out further gains following Friday's record-setting rally.
All three U.S. indexes struggled for gains through much of the range-bound session, but lost momentum in the final hour.
The S&P 500 closed modestly lower, while the Nasdaq and the Dow registered more pronounced declines.
The Dow Jones Industrial Average fell 97.55 points, or 0.25%, to 38,989.83, the S&P 500 lost 6.13 points, or 0.12%, to 5,130.95 and the Nasdaq Composite dropped 67.43 points, or 0.41%, to 16,207.51.
The pan-European STOXX 600 index lost 0.03%, and MSCI's gauge of stocks across the globe shed 0.01%.
Emerging market stocks rose 0.51%. MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.57% higher, while Japan's Nikkei rose 0.50%.
Oil held a drop with traders assessing tensions in the Middle East ahead of economic data releases from the US.
West Texas Intermediate traded below $79 a barrel after declining by 1.5% on Monday, while Brent crude closed under $83.