Sensex Today Live : Broader market indices heat map
Sensex Today Live : The broader market was largely in the red, dragged down by the BSE MidCap index (down 2.02%) and BSE SmallCap index (down 2.91%).
Sensex Today Live : Gainers and Losers on Nifty
Sensex Today Live : On the Nifty 50, NTPC, ONGC, Adani Enterprises, Power Grid Corp., and Tata Steel were the top drags, while private bank peers Kotal Mahindra Bank, Axis Bank, ICICI Bank, and IndusInd Bank, along with Bajaj Auto, were the top gainers.
Sensex Today Live : Gainers and Losers on Sensex
Sensex Today Live : The top gainers on the Sensex were private bank peers, Kotak Mahindra Bank, Axis bank, ICICI Bank, IndusInd Bank, along with pharma company Sun Pharmaceuticals. Meanwhile, top drags on the benchmark index were NTPC, Power Grid Corp., Tata Steel, Wipro, and JSW Steel.
Sensex Today Live : 12 pm Market Update
Sensex Today Live : Indian benchmark indices were in the red on Monday, dragged down by weak signals from global peers.
At 12 pm, Sensex was down 276.71 points, or 0.38%, at 73,400.42, and Nifty was down 109.95 points, or 0.49%, at 22,246.35.
Sensex Today Live : Tata Motors’s split could shift its passenger-vehicles business into top gear
Sensex Today Live : Investors in Tata Motors Ltd (TaMo) seem to concur with the company’s strategy that dividing is beneficial. After the company declared its plan to segregate its commercial-vehicles (CV) and passenger-vehicles (PV) businesses into two distinct entities, the automaker’s shares ended Tuesday with a rise of over 3%. Current shareholders will receive one share in each of the new firms.
The decision to split appears logical and timely, especially considering reports that competitor Hyundai Motor is contemplating an initial share sale worth $3 billion in the near future. (Read the full story here.)
Sensex Today Live : IIFL Finance set to receive up to $200 million invesmtnet in liquidity support from Fairfax India
Sensex Today Live : IIFL Finance today informed the exchanges that Fairfax India Holdings Corporation, a longstanding investor in IIFL Finance, has commited to provide liquidity support amidst the recent Reserve Bank of India (RBI) embargo effective March 5, 2024, on the company’s gold loan disbursements.
The RBI’s embargo has raised liquidity concerns amongst the company’s investors and lenders. In response to these concerns, Fairfax India has agreed to invest up to US$200 million of liquidity support on terms to be mutually agreed and subject to applicable laws, including regulatory approvals.
Prem Watsa, Chairman of Fairfax India, said, “We have been long-term investors in the IIFL group of companies and have full trust and confidence in the company’s strong management team led by Nirmal Jain and R Venkataraman. We are confident that Nirmal and Venkat will take corrective actions to meet and exceed RBI’s compliance standards”.
Nirmal Jain, Managing Director and Founder of IIFL Finance, said about the investment, “At this crucial juncture, Fairfax India’s and Prem’s generous offer to provide liquidity support is very timely and motivating. We are committed to complying fully with RBI’s directives and growing the business under the regulator’s guidance on the strong foundation of compliance, risk management, and fair practices.”
Sensex Today Live : Will Royal Enfield lose its market clutch?
Sensex Today Live : While Eicher Motors Ltd’s Royal Enfield is set to introduce new models, it is anticipated that its market share may decline in the forthcoming months. The company’s competitors are also launching new vehicles, which could potentially dilute Royal Enfield’s market presence. Despite new launches contributing to category expansion, which is beneficial for Royal Enfield, the intensifying competition could negate this advantage. Notably, Bajaj Auto Ltd and Hero MotoCorp Ltd have entered the premium vehicle segment through collaborations with Triumph Motorcycles and Harley Davidson, respectively. (Read the full story here.)
Sensex Today Live : J. Kumar Infraprojects Limited bags road construction order in Navi Mumbai worth ₹900 crore from CIDCO
Sensex Today Live : J. Kumar Infraprojects Limited today informed the exhcanges that it is in receipt of LOA in the capacity of sole bidder, from CIDCO Limited for the work of design and construction of coastal road at Ulwe, Navi Mumbai for the total contract cost amounting to Rs. 912.3 crore.
Sensex Today Live : 11 am Market Update
Sensex Today Live : Indian benchmark indices were in the red on Wednesday, dragged down by weak signals from global peers.
At 11 am, Sensex was down 174.87 points, or 0.24%, at 73,502.26, and Nifty was down 68.70 points, or 0.31%, at 22,287.60.
Sensex Today Live : AVP Infracon IPO price band set at ₹71-75 per share; check issue dates, other key details of SME IPO
Sensex Today Live : AVP Infracon, an infrastructure construction firm, is set to debut its initial public offering (IPO) on March 13. This IPO is classified as an SME IPO, and the company has disclosed the price range for the issue. The IPO of AVP Infracon will be available for public subscription from March 13 to March 15, with the allotment expected to be finalized by March 18, 2024.
The price band for the AVP Infracon IPO has been established at ₹71 to ₹75 per share. The company aims to accumulate ₹52.34 crore at the upper limit of the price band through the book-built issue, which consists entirely of a new issue of 69.79 lakh equity shares. (Read the full story here.)
Sensex Today Live : Samvardhana Motherson International shares down more than 4% after key stakeholder Sumitomo Wiring offloads 4.5% stake
Sensex Today Live : Sumitomo Wiring, a key stakeholder in the automotive firm Samvardhana Motherson, is reportedly planning to sell a 4.5 percent stake through a block deal, reported CNBC-Awaaz on March 5, citing sources. The report indicated that Sumitomo intends to sell approximately 30 crore shares via the block deal. Sources also revealed that the base price for the block deal has been established at ₹121-122 per share, which is 2.5-3.5 percent lower than the current market price.
Sensex Today Live : Zomato shares fall over 4% on China-based Ant Group subsidiary offloads 2.2% stake
Sensex Today Live : Antfin Singapore Holdings Pte, a subsidiary of the China-based Ant Group, is reportedly planning to sell up to 2% stake or 17.64 crore shares in the food delivery platform Zomato. The transaction, which is expected to be worth ₹2,800 crore, will be conducted through a block deal, reported CNBC-Awaaz on Tuesday. The block deal’s floor price has been set at ₹159.4 per share, indicating a 4% discount on Zomato’s current market price, as per the report.
Sensex Today Live : Bloomberg index inclusion to add $3-4 billion inflows
Sensex Today Live : Bloomberg, a provider of financial news and data, announced on Tuesday that it will incorporate a series of Indian government bonds into its widely-followed emerging market index. This inclusion could potentially draw investment inflows of $3-4 billion starting from next year.
Investors worldwide with passive investment strategies often purchase stocks and bonds listed in global indices. Therefore, the addition of Indian bonds to Bloomberg’s index is likely to attract investments. (Read the full story here.)
Sensex Today Live : 10 am Market Update
Sensex Today Live : Indian benchmark indices opened lower on Wednesday, dragged down by weak sentiment from global peers.
At 10 am, Sensex was down 190.46 points, or 0.26%, at 73,486.67, and Nifty was down 90.25 points, or 0.25%, at 22,266.05.
Sensex Today Live : BSE Smallcap falls 1%; what should be your strategy for smallcap segment?
Sensex Today Live : Recently, the small-cap market segment has undergone a significant correction, resulting in its performance trailing behind that of larger-cap peers. This change is driven by a growing caution in market sentiment, fueled by worries about overpriced valuations in the absence of new catalysts.
On Wednesday, March 6, the BSE Smallcap index saw a nearly 1 per cent drop in early trading. Since February, the index has been underperforming compared to the benchmark Sensex, attributed to its high valuations. (Read the full story here.)
Sensex Today Live : RBI bars JM Financial Products from providing financing against shares and debentures for IPOs
Sensex Today Live : India’s banking regulator RBI initiaited action against JM Financial Products to stop it from providing financing against shares and debentures, citing violation of regulations.
The RBI directed the company in its order, “to cease and desist, with immediate effect, from doing any form of financing against shares and debentures, including sanction and disbursal of loans against Initial Public Offering (IPO) of shares as well as against subscription to debentures.”
The order, however, allowed the company to continue to service its existing loan accounts through the usual collection and recovery process.
Sensex Today Live : Sector Indices Heat Map
Sensex Today Live : Most of the heavyweight sectoral indices were in the red, with the Nifty Bank down 0.06%, the IT Index down 0.82%, while the Metal, PSU Bank, and FMCG indices were also down 0.74%, 0.79%, and 0.41%, respectively.
Sensex Today Live : Broader market indices heat map
Sensex Today Live : The broader markets were under pressure, with the BSE MidCap down 0.03%, while the BSE SmallCap was down 0.53%.
Sensex Today Live : Gainers and Losers on Nifty
Sensex Today Live : Bajaj Auto, SBI Life, BPCL, Tata Motors, and Coal India, were the top gainers on the Nifty 50, while Apollo Hospital Enterprises, Bajaj Finance, Dr Reddy’s, Wipro, and Tech Mahindra, were the top losers.
Sensex Today Live : Gainers and Losers on Sensex
Sensex Today Live : Larsen & Toubro, Kotak Mahindra Bank, Tata Motors, Tata Steel, and Reliance Industries were the top gainers on the Sensex, while IT stocks Tech Mahindra, Wipro, TCS, and Infosys, along with Bajaj Finance were the top losers.
Sensex Today Live : RBI directs card issuers to provide options to customers to choose from various card networks; restricts them from entering into exclusive agreement with card network providers
Sensex Today Live : RBI said, “On a review, it is observed that some arrangements existing between card networks and card issuers are not conducive to the availability of choice for customers.”
It’s order, said, “Card issuers shall not enter into any arrangement or agreement with card networks that restrain them from availing the services of other card networks.”
and,
“Card issuers shall provide an option to their eligible customers to choose from multiple card networks at the time of issue. For existing cardholders, this option may be provided at the time of the next renewal.”
Sensex Today Live : Opening Bell
Sensex Today Live : Indian benchmark indices opened lower on Monday, dragged down by weak sentiment from global peers.
At opening bell, Sensex was down 157.91 points, or 0.21%, at 73,519.22, and Nifty was down 49.35 points, or 0.22%, at 22,306.95.
Sensex Today Live: Benchmark indices slip into the red at pre-open
Sensex Today Live: Indian benchmark indices turned red at pre-open on Wednesday, weighed down by mixed signals from global peers.
Sensex was down 89.43 points, or 0.12%, at 73,587.70, and Nifty was down 28.80 points, or 0.13%, at 22,327.50 during pre-open.
Sensex Today Live : LTI Mindtree enters into 51:49 JV with Saudi Aramco to provide IT and digital transformation services in Saudi Arabia and the MENA region
Sensex Today Live : LTI Mindtree today informed the exchanges that it has entered into a 51:49 joint venture with Global Digital Integrated Solutions Company, a wholly owned subsidiary of Saudi Arabian Oil Company (Saudi Aramco), for setting up a Joint Venture in the Kingdom of Saudi Arabia.
The scope of the joint venture company will be to market and provide information technology services to accelerate digital transformation and new next generation technology adoption in government and private sector enterprises in the KSA as well as in the MENA region.
Sensex Today Live : Gopal Snacks IPO opens for bidding today: Check latest GMP, subscription status, review, key dates, more. Apply or not?
Sensex Today Live : The Initial Public Offering (IPO) for Rajkot-based Gopal Snacks starts today, March 6, and will conclude on March 11. The company has successfully garnered ₹193.94 crores from its anchor investors. It has informed the stock exchanges that it allocated 48,36,657 equity shares, each priced at ₹401, to these anchor investors on March 5.
The price band for the Gopal Snacks IPO has been set between ₹381 and ₹401 for each equity share, which has a face value of Re 1. Investors can subscribe in lots of 37 equity shares, and in multiples thereof. (Read the full story here.)
Sensex Today Live : What to expect from Indian stock market in trade on March 6
Sensex Today Live : The Indian stock market benchmarks, Sensex and Nifty 50, are projected to commence trading on a negative note on Wednesday, influenced by the pessimistic mood in the international market.
On the previous trading day, the domestic equity indices broke their four-day rally and closed in the red, influenced by unfavorable global indicators. The Sensex dropped by 195.16 points to conclude at 73,677.13, while the Nifty 50 ended 49.30 points, or 0.22%, down at 22,356.30.
On the daily chart, the Nifty 50 formed a small bearish candle with slight upper and lower shadows. From a technical perspective, this pattern suggests a minor market correction in the offing, accompanied by significant volatility. (Read the full story here.)
Sensex Today Live : Eight key things that changed for market overnight – Gift Nifty, iPhone China sales to Bitcoin prices
Sensex Today Live : The Indian stock market is likely to start on a downbeat note on Wednesday, mirroring the negative cues from global markets.
Most Asian markets are in the red, and US stock indices also ended lower last night due to a sell-off in technology stocks.
Investors are now looking forward to the testimony of Jerome Powell, the Chair of the US Federal Reserve, before lawmakers on Wednesday and Thursday. This will provide further insights into the interest rate policy. Additionally, they are awaiting key economic data, including the all-important non-farm payrolls report, which is scheduled for release on Friday. (Read the full story here.)
Sensex Today Live : Gift Nifty, Asian peers weigh down on sentiment
Sensex Today Live : Gift Nifty Futures was trading marginally ahead of Nifty 50’s Tuesday close, indicating a muted start for Indian benchmark indices. Sentiment for Indian markets would be marred further by the mixed performance of global peers that were weighed down by the cautious mood elsewhere.
South Korean shares fell for a second straight session on Wednesday, dragged down by heavyweight chipmakers tracking losses in global peers.
The benchmark KOSPI fell 5.42 points, or 0.20%, to 2,643.98 by 0110 GMT. On Tuesday, it fell 0.93%, its biggest in nearly three weeks.
Wall Street stocks closed sharply lower on Tuesday while bitcoin and gold touched all-time highs as market participants eyed upcoming economic data and central bank actions.
All three major U.S. stock indexes fell 1% or more on the day, with the tech-laden Nasdaq suffering the steepest loss.
Despite the risk-averse sentiment among stock investors, bitcoin touched, and then backed away from, a record high. The cryptocurrency was last off 7.6% on the day at $62,380.
Gold also reached an all-time high, powered by interest rate cut expectations.
The Dow Jones Industrial Average fell 404.64 points, or 1.04%, to 38,585.19, the S&P 500 lost 52.3 points, or 1.02%, to 5,078.65 and the Nasdaq Composite dropped 267.92 points, or 1.65%, to 15,939.59.
European shares ended lower after moves by China to stimulate its economy failed to impress investors, who grew cautious ahead of euro zone and U.S. economic data, as well as a policy decision from the European Central Bank.
The pan-European STOXX 600 index lost 0.23% and MSCI’s gauge of stocks across the globe shed 0.79%.
Emerging market stocks lost 0.89%. MSCI’s broadest index of Asia-Pacific shares outside Japan closed 0.95% lower, while Japan’s Nikkei lost 0.03%.
