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Sensex Today All Time High | Market Close Highlights : Sensex ends up 1,240pts, Nifty at 22,330; Metal,Bank, O&G, up

Sensex Today All Time High | Market Close Highlights : Indian economy grew by 8.4% in Q3FY24, according to the quarterly estimates of India's GDP in Q3 FY24. The GDP numbers have surpassed the economists expectation who predicted a contraction from the previous quarter.

Sensex Today All Time High | Market Close Highlights : Foreign institutional investors (FIIs) net bought shares worth 3,568.11 crore, while domestic institutional investors (DIIs) sold 230.21 crore worth of stocks on February 29, provisional data from the NSE showed. (Photo: Mint)

Sensex Today All Time High | Market Close Highlights : European shares kicked off the month higher on Friday, buoyed by strength in global equities after favourable U.S. inflation data, while investors hope for a similar downward trend in euro zone inflation for fresh clues on monetary policy easing.

The pan-European STOXX 600 was up 0.4% by 8:11 GMT, but was on track for its first weekly slide in over six.

Stock markets are in a fairly buoyant mood as U.S. benchmark S&P 500 and Nasdaq closed at record highs on Thursday, following in-line U.S. inflation figures

Japanese and Australian shares hit fresh record highs on Friday as a key U.S. inflation reading came in as expected, a relief for investors that had looked for a June rate cut, while mixed data from China bolstered hopes for more policy support.

The Nikkei index jumped 1.9% to hit a fresh all-time high, extending a surge of 7.9% the previous month when it breached levels last seen in 1989. Australia's resources-heavy shares rose 0.6% to a new record high.

MSCI's broadest index of Asia-Pacific shares outside Japan also gained 0.2%, although it was still set for a weekly loss to 0.4%.

Data on Friday showed China's factory activity contracted for a fifth straight month in February, while the expansion in the services sector picked up pace.

China's mainland markets were higher. The bluechips rose 0.4% and Shanghai Composite index edged up 0.2%, after rebounding nearly 10% last month on the back of Beijing's efforts to stop short-selling in the market.

Hong Kong's Hang Seng index also reversed earlier losses to be up 0.6%.

Overnight on Wall Street, the S&P 500 and Nasdaq closed at record highs. The U.S. personal consumer expenditures (PCE) price index, the Federal Reserve's preferred gauge for inflation, rose 0.3% in January from a month earlier. The core PCE price index rose 0.4%, as expected.

Bonds were steady after rallying in relief that the U.S. PCE data was not worse than expected. The 10-year Treasury yield held at 4.2542% after edging 4 basis points lower overnight. It jumped 29 basis points last week as markets pushed back bets on early rate cuts.

Oil prices edged up on Friday. Brent rose 0.4% to $82.21 a barrel, while U.S. crude gained 0.3% to $78.47 per barrel.

The spot gold price was 0.1% higher at $2,044.99.

01 Mar 2024, 03:45 PM IST Sensex Today Live : Closing Bell

Sensex Today Live : Extending their gains for the second day straight, Indian benchmark indices rallied significantly on Friday to scale fresh all-time highs.

Sensex, which touched a fresh all-time high of 73,819.21 during intraday trades, closed 1,245.05 points, or 1.72%, higher at 73,745.35

Meanwhile, Nifty, which had scaled a high of 22,353.30 in intraday trades, closed at 22,338.75, up 255.95 points, or 1.62%.

On the Sensex, Tata Steel, JSW Steel, L&T, Titan, and Maruti Suzuki India, were the top gainers, while Infosys, HCL Tech, Sun Pharma, Tech Mahindra, and Nestle, were the top losers. Similarly, on the Nifty, Tata Steel, L&T, JSW Steel, Titan, and IndusInd Bank, were the top gainers, whereas Dr Reddy's, Infosys, HCL Tech, Sun Pharma, and Britannia, were the top losers.

Across sectors, the Healthcare index clsoed down 1.38%, while Media closed down 1.47%. Pharma closed down 0.95%, and the IT index closed down 0.54%.

Meanwhile, Metal closed up 3.62%, Bank was up 2.53%, and Oil & Gas closed up 2.25%. Auto was up 2.25%, while Financial Services closed up 2.13%. Consumer Durables, Realty and FMCG also ended the day with gains.

The broader market indices also ended the day in the green, with the Midcap index closing up 0.94%, and the Smallcap index closing up 0.52%.

01 Mar 2024, 03:17 PM IST Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : Across sectors, the Healthcare index was down 1.37%, while Media, Pharma and IT indices were also under pressure. Meanwhile, Metal was up 3.48%, Bank was up 2.61%, and Oil & Gas was also up 2.35%. Auto, Consumer Durables and FMCG indices were also in the green.

01 Mar 2024, 03:11 PM IST Sensex Today Live : Broader market indices heat map

Sensex Today Live : The broader market indices were all green, with the Midcap index up 0.90%, and the Smallcap index was up 0.56%. 

01 Mar 2024, 03:08 PM IST Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : Tata Steel, L&T, JSW Steel, Titan, and IndusInd Bank, were the top gainers on Nifty 50, whereas Dr Reddy's, HCL Tech, Sun Pharma, Infosys, and Britannia, were the top losers. 

01 Mar 2024, 03:06 PM IST Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : Tata Steel, L&T, JSW Steel, Titan, and IndusInd Bank, were the top gainers on the Sensex, while HCL Tech, Infosys, Sun Pharma, Tech Mahindra and Wipro, were the top losers. 

01 Mar 2024, 03:02 PM IST Sensex Today Live : 3 pm Market Update

Sensex Today Live : Indian benchmark indices had rallied to scale fresh all-time highs on Friday.

At 3 pm, Sensex was up 1,255.84 points, or 1.73%, to trade at 73,756.29, while and Nifty was up 362.55 points, or 1.65%, at 22,345.35.

Earlier, Sensex has climed the fresh high of 73,802.55, while Nifty 50 has scaled the high of 22,350.10 in intraday trades.

01 Mar 2024, 02:57 PM IST Sensex Today Live : WIth GDP data revise rate cut expectations? Elara Securities India says unlikely; expects FY25E growth at 7%

Sensex Today Live : While the headline GDP print is encouraging, the internals do not paint an extremely optimistic picture.

Private final consumption expenditure growth was 3.5% in Q3FY24, slightly better than 2.4% in Q2FY24. Agriculture gross value add decelerated in a seasonally strong quarter and industry growth eased from 13.6% in Q2FY24 to 10.4% in Q3FY24.

While the MPC may take cognizance of today’s GDP print, we believe hereon, rate cut call by the MPC may be guided more by exogenous factors such as timing and quantum of rate cut by US Federal Reserve.

With such factors being pushed ahead in the face of incoming strong data in the US, we do not see India rate cuts commencing before Q3FY25 vs Q2 earlier. We see 50-75bps rate cut this cycle (earlier FY25E). We see FY25E CPI at an average of 4.5%.

We retain our FY25E growth at 7%

For FY25E, we retain our growth projection at 7% with most support to growth likely from gradual recovery in private final consumption expenditure, especially in the mass segments in rural India amid sharply moderating inflation.

Private capex will stay selective and tentative amid election-related uncertainty.

Additionally, continued improvement in corporate profitability would support industrial GVA as global commodity prices continue to be soft.

Urban consumption growth, especially services, would be supported, but expect the momentum to normalize led by tightening of credit standards by the RBI through risk-weight increases and lagged impact of monetary tightening.

01 Mar 2024, 02:47 PM IST Sensex Today Live : Kotak Institutional Equities says SC diktat serves as a reminder on regulatory risks in Health Care Services

Sensex Today Live : In an ongoing PIL, the Supreme Court has told the central government that if it, along with the states, does not come out with a proposal for hospital rates in line with the Clinical Establishment Act (CEA), it will implement CGHS rates across hospitals as an interim measure.

While this issue cannot be taken lightly given the SC’s strong diktat, we believe it is very difficult to implement uniform pricing across hospitals (public and private).

In a public interest litigation (PIL) filed by an NGO, the petitioner has requested for rates of fees chargeable from the patients in line with the Clinical Establishment Rules, 2012.

Difficult to implement, yet serves as a reminder on risks amid steep valuations

In the worst case, if CGHS rates are levied, almost all hospitals under our coverage will turn EBITDA negative (assuming insurance companies also negotiate lower prices).

Apart from challenges such as subjectivity and variance involved in clinical outcomes, quality of doctors, infrastructure and implementation of this pan-India might also likely warrant a change in legislation. Two years ago, the SC had clearly said that no government can fix rates for patients in private hospitals.

Looking at past precedents, including during Covid, we do not believe the government (Centre and States) would be keen to actively manage public health care services. Nevertheless, amid steep valuations, this diktat creates an overhang (especially on future price hikes and expansion) and assumes more relevance, particularly as regulatory interventions reduced in the recent past.

Companies having the highest exposure (measured as a percentage of operational beds falling under states and UTs, which have adopted the CEA) are Medanta, KIMS, Rainbow, Apollo, Max, Narayana and Aster DM (in that order).

01 Mar 2024, 02:39 PM IST Sensex Today Live : Kotak Institutional Equities says Grain prices under pressure, Agricultural crop price cycle has weakened

Sensex Today Live : US futures prices of corn, soybeans and wheat softened another 4-6% sequentially during the past month and are down 24-34% yoy. The weakness is due to rising supplies in the global market.

Commodity traders have increased their short positions on these three grains to the highest levels in almost the past 20 years in expectation of a global supply glut.

In contrast, farmers are holding on to their stocks (to avoid selling at depressed prices) and are believed to be reducing corn and wheat acreages in the US by 4-5%.

This could potentially drive a rebound in grain prices, particularly if climate or geopolitics turn adverse.

In India, however, the correction in crop prices has been considerably less significant than it has been overseas.

Rainfall remained deficient across most of the country in February, while reservoir levels remain low in south India.

01 Mar 2024, 02:38 PM IST Sensex Today Live : Kotak Institutional Equities updates on the chemical sector, says Chemical industry data points indicate continued softness

Sensex Today Live : India’s exports of organic and inorganic chemicals fell 6.5% m-o-m but rose 0.3% yoy in January 2024, while imports dropped 13.7%/18.0% mom/yoy.

US chemical production for January 2024 was lower by 1.3%/0.2% mom/yoy, while chemical railcar holdings—a measure of volumes—increased 3.4% yoy on a 13-week moving average basis for the week ending February 17.

US data indicates continued softness in pricing, with chemicals producer prices down 5.7% yoy and import prices down 1.8%/2.2% mom/yoy.

In Europe, chemical output rose 1.7% yoy but fell 2.9% mom; capacity utilization remains low at 74.7%.

Certain end-use industries such as dyes & pigments are showing early signs of recovery, whereas others such as agrochemicals continue to destock, and a recovery is still two quarters away.

Chemical price trends

Softness in chemical prices continues in general, although sodium nitrite and chloroform prices did tick up 13-14% mom in January 2024.

Soda ash spot prices in China have corrected in recent weeks after a short-lived spike, while soda ash import prices into India, too, remain weak.

International phenol spreads remain below their decadal average despite certain production outages globally.

Prices of Atul’s key product categories, including 2,4-D herbicide, p-cresol and epoxy resins, remain soft, whereas sulfur black has recovered somewhat off a depressed base.

In refrigerants, average prices of R-134a have increased in recent months, although the rise seems attributable primarily to a favorable mix shift. R-32 prices have softened, whereas R-22 prices have firmed up modestly of late.

01 Mar 2024, 02:27 PM IST Sensex Today Live : Elara Securities India says cautiously optimistic on India's PSU basket, recommends SBI, BOB, REC as top picks

Sensex Today Live : India’s PSU basket (PSUB) provides investors exposure to themes which either benefit or are insulated from geopolitical uncertainty.

The appeal lies in being 1) the direct beneficiary of higher commodity prices, 2) attractive valuation, 3) government-led capex initiatives, 4) relative under-ownership by institutional investors, and 5) potential upside on account of disinvestment.

Empirical evidence suggests that in a General Elections year, the BSE PSU Index rallies 14% on average (as per our analysis of the past three Elections in CY09, CY14 and CY19), with a tendency of returns to bottom out in February. Post bottoming and until the results announcement day, the Index has yielded a return of 22%.

Further upside post Elections could come via value unlocking through disinvestment.

The impending sale of IDBI Bank may get revived post the General Elections. We also expect the offer for sale (OFS) route to remain dominant. We believe GoI is intent on privatization, which would essentially improve efficiency and unlock value in this space.

PSUB valuation currently has run up to 11.4x, at a 1% premium to its upper Standard Deviation band, and draws parallels to FY17 valuation, which preceded three years of negative performance.

Furthermore, the PSU Index currently attributes 34% of the price to long-term growth expectations, approaching historical highs of 35% in FY17.

This leads us to our cautiously optimistic view, which is predicated on the belief that while the overarching bullish trend for PSU may moderate, there remain pockets of opportunity that can give a fresh leg up to the rally and deliver outsized returns.


01 Mar 2024, 02:03 PM IST Sensex Today Live : 2 pm Market Update

Indian benchmark indices were rallying on Friday to scale fresh all-time highs.

At 2 pm, Sensex was up 1,141.99 points, or 1.58%, to trade at 73,642.29, while and Nifty was up 345.45 points, or 1.57%, at 22,328.25.

Earlier, Sensex has climed the fresh high of 73,685.14, while Nifty 50 has scaled the high of 22,327.35 in intraday trades.

01 Mar 2024, 01:57 PM IST Sensex Today Live : Is the stock market open tomorrow?

Sensex Today Live : The National Stock Exchange (NSE) has scheduled a special live trading session for Saturday, March 2, 2024. This session will include an intraday transition to a disaster recovery (DR) site.

The purpose of this special NSE session is to fortify the exchanges against potential incidents that could disrupt their operations.

Consequently, the Indian stock market is set to operate this Saturday, i.e., on March 2, 2024, during this exceptional trading session.

It’s important to note that only the equity market will be functional on this Saturday, while the commodity market will observe its usual weekend closure. (Check the full details here.)

01 Mar 2024, 01:49 PM IST Sensex Today Live : Can Coal India crash to ₹300 per share?

Sensex Today Live : Has Coal India, the public sector behemoth, been a creator or destroyer of wealth?

The investment performance of Coal India has been inconsistent, with results greatly dependent on the investment timeline. Investors who have held the stock for close to ten years have seen less than impressive returns, a stark contrast to those who entered the market three to four years ago. This scenario questions the traditional belief in the advantages of long-term investing. (Read the full story here.)

01 Mar 2024, 01:35 PM IST Sensex Today Live : Soumya Kanti Ghosh, Group Chief Economic Adviser of State Bank of India decodes the new normals of a GDP likely to grow 8%

Sensex Today Live : For FY24, GDP growth is expected to increase by 7.6% and GVA growth by 6.9%. Based on the FY24, 7.6% GDP growth, we estimate Q4 GDP growth at 5.9%, which we believe is an understatement. Thus it is most likely that FY24 GDP growth could be within striking distance of 8%.

For the first time the per capita GDP at current prices crossed 2 lakh mark in FY24, with decadal CAGR growth of 8.9%. In constant prices too, per capita GDP has increased to 1.24 lakh in FY24.

Gross capital formation (GCF) by the government touched a high of 4.1% in FY23, up from 3.6% in FY20. This also had a domino effect on private sector investment that jumped from 11% to 11.9% over the same period. (All numbers are as a percentage of GDP).

At the aggregate level, gross capital formation is supposed to have crossed 33.7% in FY24, the highest level since FY19.

In FY23, gross savings is at 30.2%, and is supposed to cross 32.3% in FY24, the highest since FY14. The household savings increased sharply during the pandemic period on account of sharp accretion in financial savings such as deposits.

While household financial savings have since then moderated from 15.4% in FY23 to 11% in FY21. Savings in physical assets have grown sharply to 12.9% in FY23 from 10.8% in FY21.

01 Mar 2024, 01:21 PM IST Sensex Today Live : Nifty Metal jumps more than 3%

Sensex Today Live : SAIL, Welspun Corp., Tata Steel, and Jindal Steel were leading the gains on Nifty Metal, all up more than 5% in afternoon trades.

01 Mar 2024, 01:08 PM IST Sensex Today Live : Nifty Bank jumps 2%

Sensex Today Live : ICICI Bank, IndusInd Bank, SBI were leading the gains on Nifty Bank, which was up 2% in the afternoon session.

01 Mar 2024, 01:03 PM IST Sensex Today Live : 1 pm Market Update

Indian benchmark indices rallied on Friday to scale fresh all-time highs, driven by strong domestic GDP data and positive cues from global markets.

At 1 pm, Sensex was up 1,056.72 points, or 1.46%, to trade at 73,557.02, while and Nifty was up 318.25 points, or 1.45%, at 22,301.05.

Earlier, Sensex has climed the fresh high of 73,590.58, while Nifty 50 has scaled the high of 22,312.65 in today's trades.

01 Mar 2024, 12:54 PM IST Sensex Today Live : Kotak Institutional Equities gives update on loan demand from MSMEs; says healthy demand indicates lower pain

Sensex Today Live : Data from TU CIBIL-SIDBI shows MSME credit grew at ~12% yoy as of 2QFY24 led by strong demand from consumers and comfortable intent to lend by financiers.

We see active participation from all lenders (public, private banks and NBFCs) continuing.

Headline delinquency ratios continued to improve across the board and are at the lowest level in the past two years.

Inquiries have remained strong at 30% yoy. MSME credit grew at 12% yoy; disbursements being led by ‘micro’ segment

MSME credit grew at a swift pace of ~12% yoy. Originations (or disbursements) have been stronger in the micro segment (7% yoy), while small (3% yoy) and medium were weaker (-9% yoy). Overall disbursements were flat yoy at ~Rs2.4 tn.

This growth in micro segment is being led by PSU banks who have a ~33% share in this segment. On the other hand, we are seeing strong participation from private banks in the small and medium segments.

Delinquency ratios continued to decline across lender categories and MSME segments (see Exhibits 7-8), indicating that asset quality is less of a concern today.

The micro segment saw the sharpest growth in credit disbursements within MSME credit.

India has ~63 mn MSMEs of which only ~25 mn (~40%) are in the formal credit ecosystem.

01 Mar 2024, 12:39 PM IST Sensex Today Live : What do the top holdings of retail investors in Indian stock market show? Zerodha's Nikhil Kamath answers

Sensex Today Live : Retail investors in the Indian stock market appear to be primarily investing in well-known companies with a strong consumer base.

Nikhil Kamath, Co-Founder of Zerodha, shared data on social media platform X (previously known as Twitter) that revealed the top investments of retail investors in the Indian market. These included high-profile companies such as Reliance Industries, HDFC Bank, Larsen & Toubro, TCS, and Infosys, among others.

Kamath noted that, contrary to the common perception of retail investors lacking investment skills, their top holdings suggest otherwise. It seems they prefer to invest in companies that are popular and have a strong consumer appeal, indicating a strategy that favours businesses with significant brand recognition. (Read the full report here.)

01 Mar 2024, 12:25 PM IST Sensex Today Live : Sensex at record high: Why the Indian stock market is rising today — explained with 5 reasons

Sensex Today Live : Today’s stock market saw robust purchasing activity, spurred by India’s impressive GDP for the third quarter of the current financial year. The majority of sectors are experiencing gains, with the exception of IT, tech, and healthcare stocks. Market experts suggest that the Indian stock market is on a bullish trend, as the strong third-quarter GDP has reinvigorated interest in bank and other PSU stocks. They also note that the easing of US inflation data has contributed to bolstering the confidence of investors on Dalal Street.

The Nifty 50 index regained the psychological 22,000 peak and went on to break the existing record high of 22,297.50 by touching an intraday high of 22,304.00. Meanwhile, the BSE Sensex, which had opened on the upside, went on to touch a new peak of 73,574. So, what are the reasons fuelling the rally? (Read the full story here.)

01 Mar 2024, 12:15 PM IST Sensex Today Live : Broader market indices heat map

Sensex Today Live : The market was witnessing broad-based strength, with the Midcap index up  0.6%, and the Smallcap index up 0.42%.

01 Mar 2024, 12:10 PM IST Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : Cipla, Britannia, HCL Tech, LTIMindtree and Apollo Hospital Enterprises, were the top losers on the Nifty 50.

01 Mar 2024, 12:08 PM IST Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : Tata Steel, and JSW Steel were the top two gainers on the Sensex, both up 4% each.

01 Mar 2024, 12:05 PM IST Sensex Today Live : 12 pm Market Update

Sensex Today Live : Indian benchmark indices rallied in the morning session to scale fresh all-time highs on Friday, driven by the strong domestic GPD growth print and positive signals from global markets.

At 12 pm, Sensex had climbed 996.13 points, or 1.37%, to trade at 73,496.43, while and Nifty was up 308.35 points, or 1.4%, at 22,291.15.

Earlier, Sensex had climed the fresh high of 73,574.02, while Nifty 50 had scaled the high of 22,304 in morning trades.

01 Mar 2024, 12:04 PM IST Sensex Today Live : Tata Motors, M&M to Bajaj Auto: Why are auto stocks rising after India's stellar GDP data print?

Sensex Today Live : Following India’s impressive third-quarter GDP figures for the current fiscal year, there has been a surge in demand for auto stocks in early morning trading on Friday.

Shares of Tata Motors have risen by over 2%, while Mahindra & Mahindra (M&M) shares have increased by approximately 1%. Bajaj Auto shares have seen a gain of around 2%, and Hero MotoCorp shares have risen by about 1.50%. Meanwhile, shares of Maruti Suzuki and Ashok Leyland have each seen nearly a 1% increase in the early morning trading on Friday.

Market experts attribute the uptrend in auto stocks to India’s real GDP for Q3FY24, which came in at 8.4 percent, significantly exceeding expectations. They note that the Indian GDP has consistently provided positive indicators and favorable conditions for the national economy. A robust economy, they explain, translates into enhanced purchasing power, which in turn boosts sectors such as auto, banking, and real estate. (Read the full report here.)

01 Mar 2024, 11:47 AM IST Sensex Today Live : Adani Group tells investors sale of new overseas bond worth $409 million due next week: Report

Sensex Today Live : Adani Group’s representatives have informed investors about the anticipated sale of a new foreign bond valued at $409 million, set to occur next week. This information comes from sources familiar with the situation who wished to remain anonymous due to the confidential nature of the discussions.

The Indian conglomerate’s fundraising efforts have been closely monitored following a damaging report by Hindenburg Research. The report, which accused the group of wrongdoing, led to a significant drop in its stocks and bonds.

There was no immediate response when Bloomberg reached out to Adani Group for a comment on Friday. (Read the full report here.)

01 Mar 2024, 11:34 AM IST Sensex Today Live : Borosil Renewables announces plans to raise ₹500 crore through rights issue; shares jump 5%

Sensex Today Live : Borosil Renewables today informed the exchanges of its decision to raise 500 crores by way of issue of equity shares on rights issue basis to the eligible equity shareholders. 

The company said in an exchange filing that the record date is yet to be determined and will be notified subsequently.

01 Mar 2024, 11:24 AM IST Sensex Today Live : Real GDP delivered a positive surprise with economy set to grow by 7.6% year-on-year in FY24, says SBI Caps

Real GDP has exceeded expectations with economy estimated to grow by 7.6% y/y in FY24 as per second Advance Estimates (up by 30 bps from First AE)

Q3FY24 real GDP expands strongly by 8.4% y/y, government capex a continued driver

Strong pickup in industry GVA could lead to resurgence of private capex

Lower gap between nominal and real GDP due to low WPI

Outlook for FY25 is solid, growth to be closer to 6.5% due to base effect and global volatility

01 Mar 2024, 11:16 AM IST Sensex Today Live : India's surprising GDP growth rate leaves economists puzzled. Here's why

Sensex Today Live : In a surprising turn of events, India’s GDP growth soared to an impressive 8.4% in the quarter ending December, significantly surpassing market predictions. This robust growth rate could potentially bolster the Narendra Modi government’s prospects as it vies for a third term in the forthcoming General Elections, even though the underlying details have left economists puzzled.

A survey conducted by Mint involving 17 economists had anticipated a GDP growth of 6.6%. (Read the full story here.)

01 Mar 2024, 11:02 AM IST Sensex Today Live : 10 am Market Update

Sensex Today Live : Indian benchmark indices extended their gains on Friday and were climbing higher, driven by strong domestic GDP growth print and positive cues from global markets.

At 10 am, Sensex was up 625.18 points, or 0.86%, at 73,125.48, and Nifty was up 194.95 points, or 0.89%, at 22,177.75.

01 Mar 2024, 10:54 AM IST Sensex Today Live : India's manufacturing PMI hits five-month high in February on robust demand

Sensex Today Live : India’s manufacturing activity recovered to hit a five-month high in February, driven by a sharp uptick in orders amid mild input cost inflation, a private survey said on Friday.

According to the HSBC India Manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, India Manufacturing Purchasing Managers' Index (PMI) recovered from an 18-month low of 54.9 in December to 56.5 in January, and then to 56.9 in February. The measure stood at 56 in November and 55.5 in October.

A reading of 50 separates expansion from contraction.

Notably, the final reading for February is lower than the estimates of 60.4 as forecast by HSBC in its Flash India Manufacturing PMI Output Index last month.

01 Mar 2024, 10:41 AM IST Sensex Today Live : India’s first chip fab to cost ₹91,000 crore

Sensex Today Live : India’s aspirations in chip manufacturing made significant progress on Thursday as the Centre approved three projects worth 1.26 trillion. The Tata group is at the helm of two of these projects.

Tata Electronics Pvt. Ltd (TEPL), in collaboration with Taiwan’s Powerchip Semiconductor Manufacturing Co. (PSMC), will establish India’s inaugural semiconductor fab in Dholera, Gujarat, with an investment of 91,000 crore. In addition, Tata Semiconductor Assembly and Test Pvt. Ltd (TSAT) will set up an assembly, testing, marking, and packaging (ATMP) facility in Morigaon, Assam, for 27,000 crore. In a separate initiative, CG Power Pvt. Ltd, along with Japan’s Renesas Electronics, will invest 7,600 crore to construct an ATMP unit in Sanand, Gujarat. (Read the full story here.)

01 Mar 2024, 10:27 AM IST Sensex Today Live : Market not in a bubble says Ray Dalio, Magnificent Seven frothy on AI concerns

Sensex Today Live : In a LinkedIn post titled ‘Are We in a Stock Market Bubble?’, Ray Dalio, the founder of Bridgewater Associates, shared his “bubble gauge" to analyze current market trends. He concluded that we are not in a bubble.

Drawing from his extensive experience of over 50 years in investing, Dalio explained how he uses his expertise to discern the characteristics of a bubble and evaluate if the present market conditions and stock trends fit the criteria. His analysis suggests that, despite a substantial surge in equity, it’s improbable that the market is in a bubble. (Read the full story here.)

01 Mar 2024, 10:13 AM IST Sensex Today Live : Chalet Hotels acquires Marriott property Courtyard for ₹315 crore from

Sensex Today Live : Chalet Hotels, part of the K Raheja Corp group, has announced the purchase of the Courtyard by Marriott Aravali Resort for a sum of 315 crore. The resort, which boasts 158 rooms and spans eight acres, had been listed for sale for approximately a year, as per the hotel company’s Friday exchange notification.

Previously, the property was under the ownership of RC Juneja’s family, the co-founder and chairman of Mankind Pharma, through Ayushi and Poonam Estates LLP. The resort, which was inaugurated in July 2022, has been recording an average nightly rate exceeding 15,000.

01 Mar 2024, 10:02 AM IST Sensex Today Live : 10 am Market Update

Sensex Today Live : Indian benchmark indices were continuing the positive momentum from opening bell on Friday and and climbing higher, driven by strong domestic GDP growth print and positive cues from global markets.

At 10 am, Sensex was up 627.52 points, or 0.87%, at 73,127.82 and Nifty was up 184.90 points, or 0.84%, at 22,167.70.

01 Mar 2024, 09:58 AM IST Sensex Today Live : Data Recap: Spending survey, Q3 results, NSE

Sensex Today Live : The much-awaited Household Consumption Expenditure Survey (HCES) showed Indians’ spending habits after a gap of 11 years. Corporate India showed a mixed report card in the third quarter of the financial year 2023-24, with divergent trends in profit and revenue growth. Just like every Friday, Plain Facts brings you a compilation of data-based insights complete with easy-to-read charts to help you delve deeper into the stories reported by Mint in the week gone by. (Read the full story here.)

01 Mar 2024, 09:52 AM IST Sensex Today Live : Reliance Securities gives technical outlook for Bank Nifty

Sensex Today Live : Bank Nifty has bounced from the support of its 100 day average and led the positive momentum to close near the high point of the day.

On the higher side crossover of 46,600 will give an upward breakout from the congestion range and on the downside 45,600 will act as strong support.

RSI is piercing upwards from its lower range and we expect the momentum to continue to test the lower band over the next few days.

Bank Nifty highest call OI is at 47,000 levels while on the downside put OI is at 46,000 levels for the weekly expiry.

01 Mar 2024, 09:41 AM IST Sensex Today Live : Reliance Securities gives technical outlook for Nifty-50

Sensex Today Live : NIFTY-50 has closed in a bullish candle with key supports of 21,850 levels and we expect the broader momentum to continue from current levels after the retracement.

The hourly support average is placed at 21,850 levels and would act as trend reversal point from current levels.

RSI is moving upwards on daily charts and crossover of the averages will give an upward momentum from current levels.

Highest call OI is placed at 22,300 strike while on the downside the highest put OI is at 22,000 for the weekly expiry.

01 Mar 2024, 09:33 AM IST Sensex Today Live : L&T commissions first indigenously built Hydrogen Electrolyser at Hazira

Sensex Today Live : Larsen & Toubro commissioned its first indigenously manufactured electrolyser at the Green Hydrogen Plant at A M Naik Heavy Engineering Complex in Hazira, Gujarat, the company stated in an exchange filing today.

Featuring a rated power capacity of 1 MW (expandable to 2 MW), this electrolyser can produce 200 Nm3/Hr of hydrogen.

It is equipped with two stacks and an Electrolyser Processing Unit (EPU) ML-400, which is indigenously manufactured and assembled, adhering to the latest international standards, and offers exceptional flexibility and thermal stability.

The electrolyser will now undergo rigorous testing in the coming weeks to optimize its performance, and in turn, pave the way for full-fledged manufacturing of electrolysers.

L&T Electrolysers Limited, a newly incorporated entity of L&T, is focused on manufacturing pressurized alkaline electrolysers using the technology from McPhy Energy, France.

L&T Electrolysers plans to leverage its upcoming giga-scale facility in Hazira to meet the growing demand for green hydrogen, maximizing product localization through enhanced local supply chain, and automation for cost-competitiveness.

01 Mar 2024, 09:28 AM IST Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : Across sectors, the Healthcare, Pharma and Media indices were under pressure in early trades. Meanwhile, Metal, Oil & Gas, PSU Bank, and Auto indices were up more than 1%. 

01 Mar 2024, 09:25 AM IST Sensex Today Live : Broader market indices heat map

Sensex Today Live : The broader market was trending up, with the SmallCap index up 0.89%, while the MidCap index up 0.55%.

01 Mar 2024, 09:23 AM IST Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : BPCL, Tata Steel, Hindalco, Mahindra & Mahindra and Bajaj Auto were the top gainers on the Nifty 50, while Apollo Hospital Enterprises, Sun Pharma, Infosys, Nestle India and HUL, were the top losers.   

01 Mar 2024, 09:21 AM IST Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : Infosys, Nestle India, Sun Pharma, and HUL, were the only losers on the BSE Sensex in early trades. 

01 Mar 2024, 09:17 AM IST Sensex Today Live : Opening Bell

Sensex Today Live : Indian benchmark indices opened jumped at open on Friday, driven by strong domestic GDP growth print and positive signals from global markets.

At opening bell, Sensex was up 322.36 points, or 0.44%, at 72,822.66 and Nifty was up 134.95 points, or 0.61%, at 22,117.75.

01 Mar 2024, 09:14 AM IST Sensex Today Live : One97 Communications & PBBL agree to discontinue inter-company related agreements

Sensex Today Live : The Board of Directors of One97 Communications, the parent company of Paytm approved the discontinuation of various inter-company agreements with its associate entity, Paytm Payments Bank Limited (PPBL)

The company, in an exhcange filing said, "One 97 Communications Ltd (Paytm) would like to inform that the Company and its associate entity, Paytm Payments Bank Limited (PPBL), have introduced additional measures to strengthen their approach towards independent operations of PPBL".

It added that as part of the process, Paytm and PPBL have mutually agreed to discontinue various inter-company agreements with Paytm and its group entities. Further, the shareholders of PPBL have agreed to simplify the Shareholders Agreement (SHA) to support PPBL’s governance, independent of its shareholders.

"The Board of OCL approved the termination of agreements and amendment of SHA on March 1, 2024," the statement read.

01 Mar 2024, 09:10 AM IST Sensex Today Live: Sensex, Nifty green during pre-open

Indian benchmark indices Sensex and Nifty were green during pre-open on Friday, driven by strong domestic GDP growth print and positive signals from global markets.

Sensex was up 111.17 points, or 0.15%, at 72,611.47 and Nifty was up 65.50 points, or 0.3%, at 22,048.30 during pre-open.

01 Mar 2024, 08:59 AM IST Sensex Today Live : What to expect from Indian stock market in trade on March 1

Sensex Today Live : Benchmark indices Sensex and Nifty 50 are projected to start on a positive note this Friday, buoyed by encouraging signals from global markets. The Sensex closed at 72,500.30, marking an increase of 195.42 points or 0.27%, while the Nifty 50 ended up 31.65 points or 0.14% higher at 21,982.80.

On the daily chart, the Nifty formed a small positive candle with shadows at both ends. According to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, this pattern technically signifies a high wave type candle pattern, indicative of continued high volatility at lower levels. The emergence of such a pattern following a few sessions of decline suggests a potential resurgence of bullish trends from the lows. (Read the full story here.)

01 Mar 2024, 08:51 AM IST Sensex Today Live : Stocks to Watch Today

Sensex Today Live : Suven Pharma, Vedanta, Radico Khaitan, IHCL, Titan, are a few stocks likely to be in focus on Friday, March 1.

01 Mar 2024, 08:46 AM IST Sensex Today Live : 10 key things that changed for market overnight - Gift Nifty, US inflation to India’s Q3 GDP data 

Sensex Today Live : On Friday, the domestic benchmark equity indices will start on a positive note, influenced by encouraging signals from global markets.

The majority of Asian markets demonstrated an upward trend, and the US stock market indices experienced a surge after the release of inflation data and remarks from US Federal Reserve officials, which helped form expectations regarding the central bank’s interest rate reductions.

Investors in the stock market are expected to respond to a variety of data released overnight, including US inflation, unemployment claims, India’s Q3 GDP growth, fiscal deficit, and others. (Read the full story here.)

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