Press "Enter" to skip to content

Share Market HIGHLIGHTS: Sensex ends up 447 points, Nifty settles above 14,900; HDFC Bank, Infosys, TCS jump – The Financial Express

The broader market outperformed the equity benchmark indices in today’s upbeat session. Image: ReutersShare Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 have ended a per cent higher on Tuesday, extending the previous day’s gains. BSE Sensex jumped 447 points or 0.90 per cent to 50,297, while the Nifty 50 index gained 157.5 points or 1.07 per cent to settle at 14,919. Mahindra & Mahindra (M&M), NTPC, Bajaj-Auto, Tech Mahindra, Tata Consultancy Services (TCS), Maruti Suzuki, Infosys and HCL Tech were among top BSE Sensex gainers. On the flip side, ONGC, Housing Development Finance Corporation (HDFC) and SBI were among the top index laggards. The broader market outperformed the equity benchmark indices in today’s upbeat session.

The Nifty has crossed 14950 which is the upper end of the resistance patch. If we can keep above that level for the next couple of days, we would be all set to reactivate the bullish undertone of the markets and should then see higher levels of 15200-15300. The new updated support for the Nifty is 14600-14650.: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

BSE Sensex jumped 447 points or 0.90 per cent to 50,297, while the Nifty 50 index gained 157.5 points or 1.07 per cent to settle at 14,919.

Domestic equities extended gains modestly as sustained rebound in economic activities in Feb’21 bolstered investors’ confidence. Barring financials, most of key sectoral indices witnessed recovery. Auto index continued to remain in focus today led by steady volumes reported by companies for Feb’21. Further, IT index also witnessed brisk recovery after sharp underperformance in recent weeks. A strong buying was seen in Midcap and Smallcap packs and outperformed broader indices as visible earnings recovery is attracting investors in this space. Notably, the volatility index contracted sharply for the second consecutive day by over 6%.: Binod Modi, Head Strategy at Reliance Securities

MTAR’s revenue and profits have grown at a CAGR of 15.7% and 140.3% respectively over FY18 to FY20. Overall the company has a good financial track record with a debt to equity ratio of 0.13 only. On the risks front, the company derives over 80% of its revenue from its top 3 customers and 49% of revenue from Bloom Energy leading to concentration risk. Besides, it does not have any long term contracts with its clients. Overall MTAR is overpriced at an FY20 P/E of 57.5 times. But it has been commanding a good grey market premium, indicating the offer will sail through. Keeping the risks in mind, we recommend to SUBSCRIBE to this IPO for listing gains only.: Nirali Shah, Head of Equity Research, Samco Securities

MTAR Technologies has come up with a 600 crore IP0 which is set to open on Wednesday. The objective of the issue is to repay debt, working capital requirements and general corporate purposes. MTAR is a leading precision engineering solutions company with presence in the Nuclear, Defence & Space and clean energy sectors. Backed by growing demand and rising investment in these sectors, the demand for precision engineering products is expected to rise steadily in the upcoming years. Also government’s efforts to boost manufacturing sector and make in India campaign will drive growth.: Nirali Shah, Head of Equity Research, Samco Securities

Cipla Gulf Expands Partnership with Alvotech for Commercialization of Biosimilars in Australia and New Zealand. Cipla announced that its subsidiary, Cipla Gulf FZ LCC is expanding its partnership with Alvotech for the marketing and distribution of four biosimilar medicines in Australia and New Zealand. As part of this strategic alliance, Cipla Gulf will be responsible for commercialization of patented biosimilars of the biologic medicine brands, Aflibercept, Ustekimumab (Stelara), Denosumab (Prolia, Xgeva®️) and Golimumab (Simponi®️). These are leading products covering therapeutic categories across immunology, osteoporosis, oncology as well as ophthalmology. The products are developed and manufactured by Alvotech and will be distributed by Cipla Gulf through Australia and New Zealand distribution networks. These innovative products recorded US$700 Mn in aggregate 2020 sales in Australia. This product launch may take 6-9 months but this is very positive development for Cipla Limited.: Yash Gupta Equity Research Associate, Angel Broking Ltd 

Reliance Industries Ltd’s (RIL) chairman Mukesh Ambani is the richest Indian and the eighth richest person in the world, according to the Hurun Global Rich List 2021. While in Asia, Mukesh Ambani has acquired the second spot in 10th Edition of Hurun Global Rich List 2021 released Tuesday with a total net worth stood at Rs 6.05 lakh crore.

Read full story

Unified Payments Interface (UPI) transaction volume and value have witnessed a contraction in February 2021 — the first time since April last year. From 2302.73 million transactions involving Rs 4,31,181.89 crore processed in January 2021, the number of transactions declined to 2,292.90 million worth Rs 4,25,062.76 crore in February 2021, according to the data from the National Payments Corporation of India (NPCI). UPI transactions in April last year had declined to 999.57 million amounting to Rs 1,51,140.66 crore from 1,246.84 million transactions worth Rs 2,06,462.31 crore in the preceding month.

Read full story

Shares of Adani Power surged to hit the upper circuit on Tuesday. The stock galloped 10% and was sitting at Rs 61.25 apiece.

Anupam Rasayan India could soon hit Dalal Street with its initial public offering (IPO) after the company received a nod from capital market regulator Securities Exchange Board of India (SEBI) to raise Rs 760 crore. SEBI, in an update on its website, said that Anupam Rasayan was issued observations on February 26, giving the company three months to launch the IPO under the approved proposal. So far in 2021, as many as eight companies have launched their IPOs on Dalal Street and many more are in the pipeline to tread on the same path amidst the liquidity-driven stock market rally.

Read full story

Almost a year after its tepid listing on the stock exchanges amid a sharp global sell-off, SBI Cards and Payment Services stock price is now trading at a 49% premium to its issue price of Rs 755 per share. In just 2 months of 2021, the second-largest card player in India has seen its stock price jump 32%. Now, after rallying strong, will shares of SBI Cards and Payment Services continue to ride the bull mark or have they maxed out their limit? Domestic brokerage and research firm Motilal Oswal, initiating coverage of the stock believes there’s little leg-room for the stock left on the upside. Currently, the stock trades at Rs 1,116 apiece.

Read full story

Gold prices in India edged lower in Tuesday’s session as analysts believe that risk-on sentiment on prospects for stimulus and vaccine-fuelled economic recovery have dimmed the appeal of safe-haven assets. On MCX, gold April futures were trading Rs 208 or 0.46 per cent down at Rs 45,100 per 10 grams.

Read full story

Conventionally, the real estate sector in India has been a highly preferred asset class for a majority of Indian investors with a possible appreciation of property values. However, real estate transactions in India come with its own set of risks. Buying a property in the country requires large capital investment. Similarly, real estate investments are also illiquid assets to an extent that they cannot be immediately converted into cash at the desired price-point.  

Read full story

Heranba Industries’ Rs 625-crore IPO, which was subscribed a massive 83.29 times, is likely to finalise the basis of share allotment on Tuesday, March 3, 2021. The issue was sold in the price band of Rs 626-627 per share from February 23 to 25. Equity shares of the Gujarat-based crop protection chemical manufacturer are expected to be listed on March 5 on bourses.

Read full story

Finance Minister Nirmala Sitharaman Yesterday asked civil accounts officers to have a roadmap for seamless digital payments while adding that there are lessons to be learnt from the ‘technology-driven glitch’ that happened at National Stock Exchange last week. ‘Seamlessness of payments is more important,… I will bring it here as an example to say even where complete foolproof systems are laid, you find in NSE a couple of days ago when there was a glitch, a kind of technology-driven glitch, which nobody could have anticipated, but that glitch has cost us immensely and lessons are being learnt,’ she said.

The rupee opens flat at 73.45 against the US dollar in opening trade this morning, yesterday it weakened till 73.78 levels. Markets will be eyeing Federal Reserve Chairman Jerome Powell’s comments this week on how the Fed assuages the bond market selloff. Technically, USDINR March Future closed at 73.75 on the previous trading session, the market could see bearish retracement up to 73.50 levels and took support of the same and start rebounding towards 74.10 in today’s session. It is facing the resistance of 200 days SMA at 74.04 levels and taking the support at 73.40 level which is 100 days SMA. Asian equities have opened higher as US announced $1.9 stimulus package. Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research Limited

Technically, the shift of trend is imminent. A move above 73.70-80 levels would confirm reversal in the medium term trend to bullish. On the lower side, immediate support lies at 73.20 levels. The surge in the momentum suggests returning of the volatility, which could sustain atleast for March month. Importers can target to buy on every dip till 73.20 levels until the pair is holding 73.00 mark. However, exporters can participate around 73.70-80 levels.: Amit Pabari, managing director, CR Forex Advisors

In the brief fight between equity bulls and bond bears, it appears that equity bulls have won, at least in the first round. The US 10-year yield has stabilised at around 1.4 per cent emboldening the equity bulls to come back with force pushing the US benchmark indices sharply higher on Monday. Equity bulls in India are likely to take cue from this positive global backdrop. Adding to the global positivity, there are many domestic positive economic news like Rs 1.3 lakh crore GST collections in Feb, Rs 77000 cr from the first day of spectrum auction, declining crude prices and reasonably good news from auto sales in Feb. In brief, advantage bulls! :V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

We are currently trading in the resistance zone of the Nifty. This range which is between 14850-14950 needs to be conquered if the markets want to resume the uptrend. We need to close above 14950 at the very least. On the flip side if we turn around from here, fresh shorting opportunities will emerge and take the markets south to levels closer to 14500.: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

All the Nifty sectoral indices were trading in the positive territory. Nifty IT index was top sectoral gainer, up 1.64 per cent, followed by Nifty Bank and Nifty Realty indices.

While ONGC, Power Grid Corporation of India, Housing Development Finance Corporation (HDFC), Bajaj-Auto and ITC were the index laggards.

Top BSE Sensex gainers were Bajaj Finance, Tech Mahindra, M&M, HDFC Bank, Bajaj Finserv, TCS, Infosys among others.

BSE Sensex jumped 244 points or 0.49 per cent to 50,248, while the broader Nifty 50 index was ruling at 14,840, rising 79 points or 0.53per cent on Tuesday.

Check live BSE Sensex, Nifty levels

COMEX gold trades about 0.9% lower near $1706/oz after a 0.3% decline yesterday. Gold remains pressurized by firmness in US dollar, higher bond yields and continuing ETF outflows. However, supporting price is progress on US stimulus, loose monetary policy stance of central banks and increased inflation expectations. Gold multiple attempts at pullback have failed indicating the strength of bears and this may not change unless the US dollar corrects sharply.: Ravindra Rao, VP- Head Commodity Research at Kotak Securities

Top BSE Sensex gainers were Bharti Airtel, M&M, TCS, HDFC Bank, Tech Mahindra and Reliance Industries Ltd (RIL) among others in pre-open on Tuesday.

BSE Sensex jumped 438 points to 50,287, while the broader Nifty 50 index crossed 14,950, rising 206 points in the pre-opening session on Tuesday.

Check live BSE Sensex, Nifty levels

Nifty futures were trading 72.50 points or 0.49 per cent higher at 14,865.50 on Singaporean Exchange, indicating a positive opening for BSE Sensex and Nifty 50 on Tuesday. Indian stock market will continue to take cues from global peers, in absence of any major domestic event. 

Read full story

On the first day of March, foreign institutional investors (FIIs) net bought shares worth Rs 125.15 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 194.88 crore in the Indian equity market.

State-run Power Grid Corporation (PGCIL) on Monday said its board has approved an interim dividend of Rs 4 per share for 2020-21.The interim dividend shall be paid to the members on March 30, 2021, the company said in a BSE filing. 

Read full story

Equity indices reversed some of last week’s losses, starting the week and the new month on strong footing. S&P BSE Sensex now sits with 49,849 points while the stock NSE Nifty 50 is above 14,750. On Tuesday morning, SGX Nifty was trading 91 points higher, hinting at a gap-up start for markets, following the positive movement recorded on Wall Street yesterday. But, Sensex and Nifty might not be out of the woods yet. “Technically, we would consider this as a pullback move as of now as we have a ‘Lower Top Lower Bottom’ structure on Nifty and until that is violated again, we are not out of the woods yet,” said Ruchit Jain, Senior Analyst – Technical and Derivatives, Angel Broking.

Read full story

On Wall Street, the S&P 500 surged on Monday in its strongest one-day gain since June as bond markets calmed after a month-long selloff, while another COVID-19 vaccine getting US approval and fiscal stimulus bolstered expectations of a swift economic recovery. The Dow Jones Industrial Average surged 1.95 per cent, while the S&P 500 gained 2.38 per cent. The Nasdaq Composite jumped 3.01 per cent.

Stocks in Asia-Pacific markets were trading higher in Tuesday’s early trade, mirroring the strong overnight gains on Wall Street. South Korea’s Kospi jumped 1.82 per cent while Hong Kong’s Hang Seng index advanced 0.28 per cent. 

Nifty futures were trading 87 points or 0.59 per cent to 14,880 on the Singaporean Exchange.

From a monthly low of just over Rs 32,000 crore in April 2020, the collections had gradually picked up; since September 2020, the mop-up has been higher than the year-ago levels and for the last five months, the revenues have been above the Rs 1-lakh-crore mark. “During the month (February), revenues from import of goods was 15% higher and the revenues from domestic transaction (including import of services) are 5% higher than the revenues from these sources during the same month last year,” the government said in a statement.

Read full story

Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates