Biggest Fall In A Month
Indian equities fell the most in a month as rising coronavirus cases continued to take a toll on investor sentiment.
The S&P BSE Sensex ended 1.7% lower at 49,180 while the NSE Nifty 50 index fell 1.8% to end at 14,549. Both benchmark indices fell the lowest level in a month. 47 out of the 50 index constituents ended with losses.
Sectoral indices fell across the board. The Nifty Bank index fell 2.6% or close to 900 points to end at 33,293. The index has fallen to its lowest in nearly two months.
PSU Banks and Metals were the top sectoral laggards in today's trading session. Both the indices fell 3.3% each in today's trading session.
The Nifty Realty index fell 3% while the Nifty Auto and Nifty Media indices fell 2.5% each while the FMCG and I.T. indices saw losses of over 1%.
The Nifty Pharma index was the only sectoral index that bucked the trend, even after ending off the day's high. The index ended little changed after trading with gains of over 1% for most parts of the day.
Broader markets also fell largely in-line with the benchmark indices. Both Nifty Midcap and Nifty Smallcap indices fell over 2% each at the close of trade.
The India Volatility Index rose the most in three weeks, rising 8.7% to end at 22.45.
1,430 stocks on the NSE ended with losses while 457 stocks managed to report gains.
How Did The Sectoral Indices Fare
Escorts Announces Price Hike
- To increase the prices of its tractors from April 1, 2021.
- Steady rise in commodity prices necessitating a price hike.
- Price hike to offset the impact of inflation.
- Increase in prices will vary across models and variants.
- Shares fell as much as 3.6% to Rs 1,316.2.
A Day To Forget For Most PSU Banks
Bucking The Trend: ICRA
- Top gainer on the Nifty 500 index
- Gains as much as 14.8% to Rs 3,984
- Trades at the highest level in three years
- Up for the second straight day
- Today's volumes are nine times its 20-day average
- Stock in overbought territory with Relative Strength Index (RSI) at 77
- The stock trades 20.4% higher than its 12-month Bloomberg consensus price target of Rs 2,991
Prestige Estate Wins Project In Mumbai
All Stocks On The Auto Index Trade Lower
Adani Enterprises Gets LoA From NHAI
- Wholly-owned subsidiary Adani Road Transport Ltd. gets LoA from NHAI for a HAM project
- Project involves four-laning of NH-365A from Kodad to Khammam in Telangana
- Project awarded under the Bharatmala Pariyojana.
- Group will now have a total of eight NHAI road projects under HAM and TOT basis.
- The 31.8 km project has a bid project cost of Rs 1,039.9 crore.
Benchmark Indices Continue To Hold Losses
- Nifty down 1.1% at 14,647
- Sensex down 1.1% at 49,496
- Nifty Bank down 1.8% at 33,588
- Nifty Midcap index down 1%
- Nifty Smallcap index down 1.2%
- India Volatility Index up 7% to 22.11
- Nifty Metal remains the top sectoral gainer; up 2.4%
- Nifty Auto and Nifty Realty indices down 1.7% each
- PSU Bank index down 1.5% while Media index down 1.2%
- Nifty Pharma remains the only sectoral gainer; up 1.2%
- Cipla is the top Nifty gainer; up 2.8%
- Hindalco remains the top Nifty laggard; down 3.4%
- 1,278 stocks on the NSE trade lower while 567 are trading with gains
A BloombergQuint Exclusive On Privatisation
Impact Of Duty On Solar Gears
Aarti Industries At Record High
- Top gainer on the Nifty Midcap index
- Gains as much as 8.6% to Rs 1,399.4
- Biggest single-day gain in nearly a year
- Up for the fourth straight day
- Today's volumes are more than 14 times its 20-day average
- One-month implied volatility at 68%
- Stock in overbought territory with Relative Strength Index (RSI) at 70
- 18 out of the 24 analysts that track the stock have a buy recommendation; 1 sell call
- The stock crossed its 12-month Bloomberg consensus price target of Rs 1,300.9 in today's session
Government To Sell 15% Stake In RVNL
Steel Upcycle To Continue To FY23
Metals Are The Top Sectoral Laggards
Benchmark Indices Continue To Trade Lower
- Nifty down 1.3% at 14,624
- Sensex down 1.3% at 49,399
- Nifty Bank down 1.9% at 33,545
- Nifty Midcap index down 0.8%
- Nifty Smallcap index down 0.9%
- India Volatility Index up 6.2% to 21.95
- Metal index remains the top sectoral laggard; down 2.3%
- Realty index down 1.9% while Auto index falls 1.5%
- PSU Bank index down 1.3% while I.T. and Media indices down 1% each
- Nifty Pharma is the only sectoral gainer; up 0.7%
- Asian Paints remains the top Nifty gainer; up 1.8%
- ONGC is the top Nifty laggard; down 4%
- 42 out of the 50 Nifty constituents decline
- 1,251 stocks on the NSE trade with gains while 545 are trading lower
Millennials Entering The Stock Market
Zydus Announces Settlement of Patent Litigation For Generic Revlimid
- Cadila announced that they have reached an agreement with Celgene, a wholly-owned subsidiary of Bristol Myers Squibb relating to patents for Revlimid.
- As part of the settlement, the parties will file consent judgments with the U.S. District Court for the district of New Jersey that enjoin Zydus Cadila from marketing generic lenalidomide before the expiration of the patents-in-suit, except as provided for in the settlement.
All Constituents Of The Nifty Bank Decline
Grasim Industries Approves Fund Raising
- Approves raising of funds by availing term loans in INR or foreign currency or by issue of debt securities including but not limited to issuance of foreign currency denominated bonds or debentures.
- Fund raising to now be within overall borrowing limit of Rs 10,000 crore from previously approved limit of Rs 7,000 crore on a private placement baiss.
- Shares fell as much as 1.2% to Rs 1,394.95, down for the second straight day.
A Year To 7,511 On The Nifty
Benchmark Indices Extend Losses Post Weak Open
- Nifty down 0.9% at 14,684
- Sensex down 0.9% at 49,623
- Nifty Bank down 1.3% at 33,723
- Nifty Midcap index down 0.6%
- Nifty Smallcap index down 0.8%
- India Volatility Index up 2.5% to 21.2
- Nifty Metal index is the top sectoral laggard; down 2%
- Nifty Realty is the other sectoral laggard; down 1.8%
- PSU Bank, Auto and Media indices down 1% each
- Nifty Pharma is the only sectoral gainer; up 0.4%
- Asian Paints is the top Nifty gainer; up 1.6%
- Hindalco is the top Nifty laggard; down 3.6%
- 42 out of the 50 Nifty constituents trade with losses
- 1,108 stocks on the NSE trade with losses while 653 advance
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A Weak Start To Trade
Indian equities opened lower on the penultimate day of the March F&O series after markets on Wall Street ended lower overnight. Sentiment across the Asia-Pacific too remains muted amidst a fresh outbreak of coronavirus cases.
The S&P BSE Sensex opened 0.5% lower at 49,786 while the NSE Nifty 50 index opened 0.7% lower at 14,712. Benchmark indices gained only for the second time during the last seven trading sessions on Tuesday.
Most sectoral indices have opened lower this morning. The Nifty Bank index is down nearly 300 points or 0.8% while the PSU Bank index is little changed. The Nifty I.T. and Nifty Metal indices have opened with losses of 1% each while the Auto index is down 0.7% at the start of trade.
Broader markets too have opened lower in mid-week trading. Both Nifty Midcap and Smallcap indices are down 0.3% at the start of trade.
671 stocks on the NSE have opened with gains while 912 are declining.
Current Market Update
Penultimate Session Of March F&O Series
Good Morning!
Indian equities managed to end with gains on Tuesday despite high volatility ahead of the F&O series expiry.
Banks and cement stocks outperformed, while metals were the top laggards.
Futures, however, are indicating a weak start to Wednesday's trading session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.6% to 14,735, as of 8:20 a.m.
Most Asian equities have opened lower after a weak session overnight on Wall Street. Haven demand is on the rise with equities and oil prices faltering.
Benchmarks in Japan, South Korea and Hong Kong fell, while those in China fluctuated. Bond yields headed for a third straight day of declines.
Futures on the Dow Jones are trading 60 points lower. The index fell 1% overnight.
Oil prices fell after renewed lockdowns in Europe dampened prospects of a recovery in demand. A projected rise in the U.S. stockpiles also kept sentiments in check. West Texas Intermediate traded at $57.83 per barrel after a 6% drop on Tuesday.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
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