Press "Enter" to skip to content

Share Market LIVE: Sensex trims some losses, but still in red, Nifty regains 14,900; financials drag – The Financial Express

Shanghai Composite, Hang Seng, Nikkei 225, TOPIX, Kospi, and KOSDAQ were all trading deep in red.
(Image: REUTERS)
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets began trading on Friday morning down in red. S&P BSE Sensex gave up 50,000 on opening while Nifty was seen trading below 14,800 levels. Bharti Airtel was the only Sensex stock to move with gains. Banking stocks including ICICI Bank, HDFC Bank were the top drags, followed by Reliance Industries Limited. India VIX or the volatility gauge shot up 11%.RailTel’s shares will make their stock market debut today. The Rs 819 crore initial public offering (IPO) from the Ministry of Railways, its second public issue of 2021, had earlier this month garnered a subscription tally of 42.39 times. Incorporated in 2000, RailTel is an information and communications technology infrastructure provider and one of the largest neutral telecom infrastructure providers in the country. The issue was an offer for sale (OFS) with the government looking to trim its stake in the firm. Shares were offered in the price band of Rs 93-94 per share with the minimum application size at 155 equity shares. 
“We are now in a see-sawing market moving up & down in response to positive & negative news. But the long-term texture of the market has been ‘buy on dips’ and this strategy has been rewarding in this bull run. The sell-off in the US market yesterday was the market’s response to 10- year yield touching 1.6%. The Fed’s interpretation of the rising yield is that it is discounting better growth prospects while the market typically discounts stock prices at a lower PE when interest rates rise. Fed’s declared commitment to inject liquidity and keep rates low through 2023 can ensure a buoyant market this year. So investors can utilize opportunities thrown up by corrections to buy quality stocks is performing sectors.,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Domestic markets witnessed some respite minutes after the opening bell as Sensex, Nifty moved higher. However, the benchmarks were still in red.

Among the 30 stocks that make up the BSE Sensex, only Bharti Airtel was trading in the green while the other 29 stocks were down in red.

Sensex gave up 50,000 mark on Friday’s opening bell, while Nifty 50 moved below 14,800 as domestic markets followed weak global cues.

Sensex was seen trading 700 points lower on Friday morning as domestic markets looked to mirror the global sell-off. 

“US equities tumbled as the bond sell-off extended further overnight. The US10-yr yields are up a whopping up 17bps to 1.54% highest since February 2020. With discussions amongst the Democrats pointing to as much as US$3 trillion in infrastructure spending and the pandemic continues to normalize, bond traders wasted little time pricing in a hyper-stimulated and inflated return to normalcy. This triggered a massive sectoral dispersion with Technology stocks under the hammer given growing valuation concerns. Tech stocks are susceptible to rising yields because their value rests most heavily on future earnings, which get discounted more negatively when bond yields go up,” said Stephen Innes, Chief Global Market Strategist at Axi.

Erasing gains made in the last few trading session, Nifty moved below 14,900 during the pre-open session on Friday.

Sensex gave up 51,000 mark and Nifty moved below 15,000 in the pre-open session on Friday as domestic markets followed global sell-off.

Shanghai Composite was down 1.58% on Friday morning, Hang Seng was down 2.09%. Nikkei 225 and TOPIX were down 2.39% and 1.92%, respectively. KOSPI and KOSDAQ fell over 2% each.

At the end of the three-day subscription window, Heranba Industries initial public offering (IPO) was subscribed 83.16 times by investors. The Non-Institutional Investors category has subscribed 271.15 times and Qualified Institutional Buyers (QIBs) have subscribed their portion 67.45 times. Retail Investor Portion has been subscribed 11.84 times. 

After three days of gains, Sensex and Nifty could threaten to plummet on the last trading session of the week. SGX Nifty was down more than 200 points during the early hours of Friday. Ahead of the rout on Wall Street on Thursday that saw stock markets tank, Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities said that technically, the market is opening the window of consolidation between the broader range of 15350/52000 and 14850/50350 levels, in his view. However, rising bond yields in the US have since given investors reasons to ditch stocks.

Read full story

Global rating agency Moody’s on Thursday sharply raised its India growth forecast for the next fiscal to 13.7% from 10.8% estimated earlier, citing growing confidence of the normalisation of economic activity with the rollout of Covid-19 vaccines.

Read full story

Nifty futures on Singapore Exchange are down deep in red on Friday morning. SGX Nifty was down more than 200 points, hinting at a negative start for domestic equity markets.

Wall Street’s main indexes fell on Thursday, with the Nasdaq slipping about 2.5%, as technology-related stocks remained under pressure following a rise in U.S. bond yields. The benchmark 10-year Treasury yields hit a one-year high of 1.48%, prompting investors to lock in profits on some high-flying growth stocks due to concerns over heightened valuations.

Read full story

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