Sensex Today | Market Close Highlights: Sensex ends 610pts down, Nifty at 22,330; Bank, metal, realty, O&G, lose most

Sensex Today Live : In a day marred by weak sentiments emanating from global peers, Indian benchmark indices closed drastically down on Monday.

Sensex, which had opened lower at 74,175.93, and touched a low of 73,433.91, during the day, pared some losses to close at 73,502.64, down 616.75 points, or 0.83%

Meanwhile, Nifty 50, which had also opened lower at 22,517.50, touched a low of 22,307.25 during intraday trade. At close, it was at 22,332.65, down 160.90 points, or 0.72%.

Power Grid Corp., Tata Steel, SBI, IndusInd Bank and NTPC, were the top drags on the Sensx, while Nestle India, Bajaj Finserv, Bajaj Finance, Asian Paints, and JSW Steel, were the top gainers at close.

On the Nifty 50, Apollo Hospital Enterprises, Nestle India, SBI Life, Cipla, and Dr Reddy's, were the top gainers, while Tata Consumer Products, Power Grid Corp., Bajaj Auto, Tata Steel, and SBI, were the top losers.

The affect of the weak sentiment in the markets today was also witnessed in the sectoral indices, with most of the heavyweight indices closing in the red. The Bank Nifty closed down 1.06%, while Metal was down 1.44%. Realty and Oil & Gas indices also closed down more than 1%, while Media closed down 2.91%. Sector indices like Auto, Financial Services, FMCG, and IT, also closed in the red, while Pharma and Healthcare, were the only two sectoral indices which ended the day in green.

The broader market was also under pressure, with the BSE SmallCap index closing down 2.01%, and the BSE MidCap index closing down 0.24%.

Sensex Today Live : The affect of the weak sentiment in the markets today was witnessed in the sector indices too, with most of the heavyweight indices remaining in the red through most of the day. The Bank Nifty was down 1.02%, while Metal was down 1.41%, and Media was down 2.72%. 

Sector indices like IT, Realty, FMCG, Auto, and Financial Services, were also in the red. 

Sensex Today Live : The broader market was under pressure, with the BSE SmallCap index down 1.81%, and the BSE MidCap index down 0.08%.

Sensex Today Live : On the Nifty 50, Apollo Hospital Enterprises, Nestle India, SBI Life, Cipla, and Bajaj Finserv, were the top gainers, while Tata Consumer Products, Power Grid Corp., Ajaj Auto, Tata Steel, and SBI, were the top losers. 

Sensex Today Live : Power Grid Corp., Tata Steel, SBI, IndusInd Bank and HDFC Bank, were the top drags on the Sensx, while Nestle india, Bajaj Finserv, HCL Tech, Bajaj Finance, and JSW Steel, were the top gainers. 

Sensex Today Live : Indian benchmark indices were in the red on Monday, affected by weak signals from global peers.

At 3 pm, Sensex was down 391.79 points, or 0.53%, at 73,727.60, and Nifty was down 107.75 points, or 0.48%, at 22,385.80.

Sensex Today Live : In an exchange filing today, Mahindra & Mahindra Financial Services, said that its board has approved the fund raise of ₹500 crore, with a green shoe option to raise another ₹1,500 crore.

It said in the exchange filing, the company's board has "has approved the offer and issuance of Secured, Rated, Listed, Redeemable Non-convertible Debentures on private placement basis as per the details given in Annexure I, within the overall borrowing limits approved by the shareholders and authorization granted by the Board in this regard."

Sensex Today Live : PSP Projects informed the exchanges today that it has received an additional order to build a fintech buildging in Gift City, Gandhinagar, worth ₹333.06 crore.

It stated in an exchange filing, "we are pleased to inform that the company is in receipt of new Work Orders worth INR 410.06 Crores (excluding taxes)."

The filing further noted, "With receipt of the above order, the total order inflow during the financial year 2023-24 till date amounts to INR 3422.91 Crores. (This includes additional scope of work worth INR 77 Crores from the existing contracts)."

Sensex Today Live : Solar Industries India informed the exchanges that it has received an order worth ₹455 crore from an overseas client to supply products for two years for use in defence products.

Sensex Today Live : Indian benchmark indices were in the red on Monday, affected by weak signals from global peers.

At 2 am, Sensex was down 331.65 points, or 0.47%, at 73,767.74, and Nifty was down 88.85 points, or 0.4%, at 22,404.70.

Sensex Today Live : Kotak Mahindra Bank has recently affirmed the stance of the Reserve Bank of India (RBI) governor, expressed during the policy meeting in February, that the full impact of the stringent monetary policy is yet to be realized.

It's evident that the majority of banks have so far underestimated the RBI's determination to combat inflation through a strict monetary policy, as they have avoided aggressive increases in deposit rates to preserve their profitability. However, Kotak Mahindra Bank has now aligned itself with other banks that have started to raise their deposit rates. (Read the full story here.)

Sensex Today Live : The government is set to increase incentives for the chip sector from the existing ₹76,000 crore, anticipating a surge in chip fabrication and testing facilities across the nation in the coming years.

Ashwini Vaishnaw, the IT minister, said in an interview that India is on track to become one of the world's top five semiconductor ecosystems within the next five years. This growth will be fueled by investments from international giants who are progressively looking at India as a potential location for establishing fabrication units and other facilities.

Vaishnaw, who also oversees the telecom and railways portfolios, further added, "Over the next five years, India is projected to see the establishment of approximately 4-6 additional fabs, 6-10 compound semiconductor fabs, 1-2 display fabs, and 8-10 ATMP units. The complete design, fab, and ATMP value chain will be set up here in Bharat. In the next five years, Bharat is poised to rank among the world's top five semiconductor ecosystems." (Read the full story here.)

Sensex Today Live : Brokerage firm Kotak Institutional Equities has expressed skepticism about the recent surge in Public Sector Undertaking (PSU) stocks. It recommends that investors capitalize on the profits and liquidate the majority of their holdings.

In its report dated March 9, the firm highlighted that the rally in PSU stocks occurred despite no substantial improvements in their fundamentals or significant reforms. This suggests that the remarkable surge was mainly fueled by optimistic market sentiment. (Read the full story here.)

Sensex Today Live : Indian benchmark indices were in the red on Monday, affected by weak signals from global peers.

At 1 am, Sensex was down 346.21 points, or 0.47%, at 73,773.18, and Nifty was down 81.25 points, or 0.36%, at 22,412.30.

Sensex Today Live : The Supreme Court has denied the State Bank of India’s (SBI) request for an extension to disclose the identities of individuals and corporations that purchased its electoral bonds to finance political parties. The court ordered that this information be provided to the Election Commission by Tuesday, March 12, and that the commission should publish it on its website by the evening of March 15.

In a significant ruling last month, the Supreme Court had abolished the electoral bond process, deeming it ‘unconstitutional’. The electoral bonds scheme, initiated by the Modi government, facilitated ‘anonymous’ political contributions. SBI, as the authorized financial institution under the scheme, was instructed by the Supreme Court of India to submit the details of the electoral bonds bought from April 12, 2019, onwards to the Election Commission by March 6. The commission was then directed to make this information available on its official website by March 13.

Sensex Today Live : IndusInd Bank today informed the exchanges that it has launched its contactless payments wearables, 'Indus PayWear,' an all-in-one tokenizable wearable service for both debit and credit cards on Mastercard. The exchange filing said that the offering will be extended to other card networks shortly.

Indus PayWear allows users to tokenize their IndusInd Bank credit or debit card onto a chip-enabled wearable device.

This will facilitate swift and secure tap-and-pay transactions at any contactless Point-of-Sale (PoS) terminal across the globe, eliminating the need for a physical card or even a payment app for purchases.

The three wearables, i.e. ring, watch clasp, and stickers, cater to diverse preferences of customers, with an affordable price ranging from Rs. 499 to Rs.2,999.

While transactions below ₹5,000 are seamlessly done as a tap-and-pay using the wearable, transactions exceeding ₹5,000 will necessitate the added security of the PIN of the linked card to be entered on the PoS machine.

Sensex Today Live : Grid Corporation of India today informed the exchanges that it has executed a Memorandum of Understanding with Rajasthan Rajya Vidyut Prasaran Nigam Limited (RRVPNL) on 10th March, 2024 to incorporate a Joint Venture (JV) Company for development of Intra State Transmission System in the state of Rajasthan with an equity Participation of 74% by POWERGRID and 26% by RRVPNL.

The company added that the JV company will undertake projects worth upto ₹10,000 crore in a phased manner.

Sensex Today Live : Along with the broader market, most heavyweight sectoral indices were also in the red, with Metal emerging as the biggest loser.

Sensex Today Live : The broader market was under pressure, with the BSE MidCap index down 0.18%, and the BSE SmallCap index down 1.59%. 

Sensex Today Live : Bajaj Finserv, Nestle India, Apollo Hospital Enterprises, Cipla, and Sun Pharma, were the top gainers on the Nifty 50, while Tata Consumer Products, Tata Steel, Power Grid Corp., Bajaj Auto, and Tata Motors, were the top losers.