Sensex Today | Share Market Live Updates : Sensex falls 420pts, Nifty at 22,050; Realty, O&G, PSB, Auto, fall over 1

Sensex Today Live : After opening on a positive but muted note, Indian benchmark indices fell on Wednesday.

At 11 am, Sensex was down 426.95 points, or 0.58%, at 72,668.27, and Nifty was down 163.35 points, or 0.74%, at 22,035.

Sensex Today Live : Our experience suggests that trying to time the market is fraught with uncertainty, with a high probability of being wrong 99% of the time,” says Deepak Shenoy, founder and CEO of Capitalmind. “I view buying bonds as a sound tactical move, particularly in the current market environment where interest rates are expected to decline,” adds Shenoy in an interaction with Mint for the Guru Portfolio series. In this series, leaders in the financial services industry share how they manage their own money. (Read edited excerpts from the interview here.)

Sensex Today Live : Shares of FMCG company Patanjali Foods fell by 4.13% to ₹1,555 apiece in today’s early morning trade after the Supreme Court on Tuesday served a contempt notice to Ramdev-owned Patanjali Ayurved and its managing director Acharya Balakrishna for going back on their promise to not make “misleading claims” in advertisements for its medicines.

The Supreme Court on Tuesday served a contempt notice to Ramdev-owned Patanjali Ayurved and its managing director Acharya Balakrishna for issuing misleading advertisements about health cures in violation of an earlier order. The apex also court barred Patanjali from promoting products claimed to cure diseases such as heart ailments and asthma. However, Patanjali Foods said in a regulatory filing, “The observations of the Supreme Court of India do not relate to Patanjali Foods Limited which is an independent listed entity and operates in the space of edible oil and food FMCG products only”.

Sensex Today Live : Juniper Hotels share price made a tepid debut on the bourses today. On NSE, Juniper Hotels share price opened at ₹365 per share, 1.39% higher than the issue price of ₹360. On BSE, Juniper Hotels share price today opened at ₹361.20 apiece, up 0.33% than the issue price.

Experts anticipated Juniper Hotels share price to list in the range of ₹345 to ₹370 range.

Juniper Hotels IPO subscription status was 2.08 times on the third day, where the retail portion was booked 1.28 times, as per BSE data. The Non Institutional Investors (NII) portion was booked 85%, and Qualified Institutional Buyers (QIB) portion was booked 2.96 times.

Sensex Today Live : On the outlook for the Indian stock market today, Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said, “Markets rebounded from 2-session losses as selective buying in frontline stocks aided recovery from early weakness. There is no major trigger and investors are taking cues from global markets. Buying in IT, auto and realty shares boosted gains of key indices, while sharp fall in oil & gas and financial stocks kept gains under check. As we approach F&O expiry day on Thursday, volatility will begin to kick-in as traders will rollover their positions to next expiry day. Technically, the Nifty has support at 22001-21839 while the index faces resistance at 22351 and 22501 levels.” (Read the full story here.)

Sensex Today Live : After opening on a positive but muted note, Indian benchmark indices were marginally down on Wednesday.

At 10 am, Sensex was down 59.06 points, or 0.08%, at 73,036.16, and Nifty was down 21.90 points, or 0.1%, at 22,176.45.

Sensex Today Live : Bharat Highways InvIT IPO opens for subscription today (Wednesday, February 28), and will close on Friday, March 1. Bharat Highways InvIT IPO raised ₹825.97 crore from anchor investors on Tuesday, February 27. The company notified the exchanges that it allocated 8,25,97,350 equity shares at ₹100 apiece.

Bharat Highways InvIT IPO price band has been set in the range of ₹98 to ₹100 per equity share. Bharat Highways InvIT IPO lot size is 150 equity shares and in multiples of 150 equity shares thereafter. (Check details here.)

Sensex Today Live : Corporate India has continued its robust performance buoyed by incrementally accelerating consumption patterns across urban-rural landscape.

Corporate results, as recorded from around 4,000 listed entities, for Q3FY24, shows robust growth of more than 30% in both EBIDTA and PAT, while top line grew by around 7% as compared to Q3FY23.

Further, listed entities reported improvement in margin, as reflected in results of around 3,000 listed entities ex. BFSI, with EBIDTA margin of 14.95%, on aggregate basis, during Q3FY24, as compared to around 12% during the same period previous year.

Corporate GVA, as measured by EBIDTA plus employee expenses reported a strong growth of around 26% in Q3FY24 as compared to Q3FY23.

As per First Advance Estimates, the estimated production of major Kharif crops for 2023-24 is 148.5 MMT, which is a decline of ~4.6% from FY23.

While, the sowing season for rabi crops concluded on 23 Feb, indicate a slight increase in overall acreage compared to the previous year. However, concerns arose over the sown area under cereals, which saw a decline of 6.5% from the previous year. While agriculture may see some moderation if the rabi output does not offset the kharif shortfall, value added in agriculture will decline.

Sensex Today Live : Vodafone Idea share price fell over 4% in early trade on Wednesday after the telecom operator’s board approved fundraising of up to ₹45,000 crore through equity and debt. Vodafone Idea shares declined as much as 4.85% to ₹15.10 apiece on the BSE.

Cash-strapped private telecom operator, Vodafone-Idea, on Tuesday saw its board approve a ₹45,000-crore fund raising initiative—including a ₹20,000 crore equity-based fund raise from existing investors. A shareholder meet for the fund raise is expected to take place on 2 April, post which the operator expects to complete the equity fund raise by the end of the upcoming June quarter. Following the equity fund raise, Vodafone-Idea will further look to raise debt—taking the total amount of funding up to ₹45,000 crore. Existing promoters of Vodafone-Idea will also be involved in the equity fund raise, the company confirmed in a media statement.

Sensex Today Live : The likelihood of the global economy exhibiting stronger than expected growth in 2024 has brightened in recent months, with risks broadly balanced.

On the flip side though, both UK and Japan slipping into recession warrants return to drawing board.

Global complexity further gets clouded with the marked slowdown in China facing deflationary concerns now. The waning might of the mainland that has been battling tech and strategic isolation at world stage does not augur well for industrial and commodity demands for a world order limping back to normalcy in the short run at least.

As a counter narrative to the global gloom, consumer confidence has strengthened further in India, driven chiefly by optimism about the general economic situation and employment conditions. Various enterprise surveys also point towards strong business optimism.

The CLI Index (a basket of 41 leading indicators which includes parameters from almost all the sectors) based on monthly data shows a slight moderation in economic activity in Q3.

Factoring the slight decline in economic activity in Q3FY24, we estimate GDP should grow in the range of 6.7-6.9% with a GVA growth of 6.6%.

Sensex Today Live : Across sectors, Realty, Healthcare, Pharma, FMCG, and IT indices were under pressure in early trades. 

Sensex Today Live : The broader markets were largely positive in early trades, with the Smallcap and Midcap indices trending upwards. 

Sensex Today Live : Airtel, Tata Consumer Products, Tata Motors, SBI, and Hindalco, were the top gainers on the Nifty 50, while Apollo Hospital Enterprises, UltraTech Cement, Wipro, L&T, and Cipla were the top losers. 

Sensex Today Live : Airtel, Tata Motors, SBI, Tata Steel, and Tech Mahindra, were the top gainers on Sensex, while Wipro, UltraTech Cement, Asian Paints, Power Grid Corp., and Maruti were the top losers. 

Sensex Today Live : Indian benchmark indices opened on a positive note on Wednesday, despite mixed signals from Asian markets.

At opening bell, Sensex was up 32.78 points, or 0.04%, at 73,128, and Nifty was up 11.65 points, or 0.05%, at 22,210.

Sensex Today Live : Indian benchmark indices were up during pre-open trading on Wednesday, despite mixed signals from Asian peers.

Sensex was up 67.60 points, or 0.09%, at 73,162.82 and Nifty was down 17.05 points, or 0.08%, at 22,215.40 during pre-open.

Sensex Today Live : Bank Nifty ends flat to negative being stuck in a range of the short- and medium-term averages and could witness an either side breakout from current levels.

On the higher side 47,000 will act as resistance and on the downside support is placed at 46,100 being the 20-day average.

RSI is trending near to its average line 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 46,500 levels for the monthly expiry.

Sensex Today Live : Nifty-50 made a lower top near to its all time high and reversed its previous day loss with momentum in the second half to close at the higher range.

An either side move could be expected in the next few days after a consolidation of 130 points over the past few days.

RSI is reversing downwards from the higher range on daily charts and expected to witness some retracement from current levels.

Highest call OI has moved lower to 22,400 strike, while on the downside the highest put OI is at 22,000 for the monthly expiry.

Sensex Today Live : Shares of South West Pinnacle Exploration and Fiem Industries Ltd will be in focus when the stock market opens on February 28 (Wednesday).

The Board of Directors of these companies have declared interim dividend and bonus issue for their eligible shareholders. (Check the details here.)

Sensex Today Live : The trends on Gift Nifty indicate a flat to positive start for the Indian benchmark index. The Gift Nifty was trading around 22,235 level as compared to the Nifty futures’ previous close of 22,196.

On Tuesday, the Indian stock market indices rebounded from a two-day correction and ended higher.

The Sensex gained 305.09 points to close at 73,095.22, while the Nifty 50 settled 76.30 points, or 0.34%, higher at 22,198.35.

Nifty 50 formed a reasonable positive candle on the daily chart that has engulfed the small negative candle of Monday.

“Technically, this market action is signaling a bullish engulfing pattern. But, the placement of the pattern is not convincing to call this as an important bullish reversal pattern. The near-term uptrend status of Nifty remains positive and bullish chart pattern like higher tops and bottoms are also intact. At the same time, the market is not gaining strength to witness an upside breakout of 22,200 – 22,300 levels decisively,” said Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities. (Read the full story here.)

Sensex Today Live : The domestic equity indices are expected to open on a steady note amid mixed global market cues.

The Asian markets traded flat while the US stock market ended mixed overnight ahead of the key economic data that could shed light on the possible timing of a US Federal Reserve interest rate cut.

Expectations for a cut of at least 25 basis points (bps) by the Fed at its June meeting stand at 59.1%, down from the near certainty at the end of January, according to the CME Group’s FedWatch tool.

Investors will now watch for Thursday’s January personal consumption expenditures price index (PCE), the Fed’s preferred inflation gauge.

On Tuesday, the Indian stock market indices ended higher, snapping a two-day correction. (Read the full story here.)

Sensex Today Live : With Gift Nifty, at 22,233.50, at 7:35 am, trending 35 points higher than the Nifty 50 close of 22,198.35, Indian benchmarks looked all set to open on a positive note.

U.S. stocks held near their record levels on Tuesday after a quiet day of trading.

The S&P 500 added 8.65 points, or 0.2%, to 5,078.18 and is just off its all-time high set last week. The Dow Jones Industrial Average dipped 96.82, or 0.2%, to 38,972.41, and the Nasdaq composite rose 59.05, or 0.4%, to 16,035.30.

A global equities index advanced slightly on Tuesday as investors weighed the outlook for central bank rate cuts after the latest batch of economic data and ahead of a key U.S. inflation reading due Thursday, while the dollar fell against the yen.

MSCI’s gauge of stocks across the globe rose 1.43 points, or 0.19%, to 760.60.

Oil prices rose after reports that producer group OPEC was considering extending voluntary oil output cuts into the second quarter to provide additional support.

Earlier in the day, the Conference Board said U.S. consumer confidence retreated in February after three straight monthly increases. Its consumer confidence index slipped to 106.7 this month versus economist expectations of 115.0 and a downwardly revised 110.9 for January.

Also, orders for long-lasting U.S. manufactured goods fell by the most in nearly four years in January amid a sharp drop in bookings for commercial aircraft, while the outlook for business investment on equipment was mixed.

The next key data investors are looking to is Thursday’s release of January’s U.S. personal consumption expenditures index (PCE), which is the Federal Reserve’s preferred inflation measure.

U.S. crude settled up 1.66% at $78.87 a barrel while Brent finished up 1.36% at $83.65 per barrel.

Gold prices held steady with the U.S. inflation reading and comments from Fed officials on investors’ radar this week.

Spot gold edged 0.1% higher at $2,031.99 per ounce(Oz), as of 0135 GMT. U.S. gold futures fell 0.2% to $2,041.00 per ounce.

In cryptocurrencies, bitcoin rose 3.90% to $56,795.00.