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| As on Mar 08, 2021 12:00 AM |
Your results on : Mid Session |
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The domestic equity benchmarks firmed up once again in mid-afternoon trade. At 14:23 IST, the barometer index, the S&P BSE Sensex, was up 269.36 points or 0.53% to 50,674.68. The Nifty 50 index rose 89.55 points or 0.60% to 15,027.65. The broader market was trading higher. The S&P BSE Mid-Cap index advanced 0.48%. The S&P BSE Small-Cap index gained 1.03%. Buyers outnumbered sellers. On the BSE, 1782 shares rose and 1258 shares fell. A total of 218 shares were unchanged. Numbers to Track: In the commodities market, Brent crude for May 2021 settlement rose 49 cents to $69.85 a barrel. The contract gained 3.92% or $2.62 to settle at $69.36 a barrel in the previous session. The yield on 10-year benchmark federal paper rose to 6.218% as compared to its previous close of 6.232%. In the foreign exchange market, the partially convertible rupee fell to 73.19, compared with its previous closing of 73.02. MCX Gold futures for 5 April 2021 settlement fell 0.50% to Rs 44,458. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, rose 0.33% to 91.942. Buzzing Index: The Nifty Metal index rose 1.16% to 3,914.45. The index had declined by 4.66% in the past two sessions. NMDC (up 4.14%), Welspun Corp (up 3.97%), APL Apollo Tubes (up 2.73%), National Aluminum Co. (up 2.68%), SAIL (up 2.43%), Hindustan Copper (up 2.39%), Coal India (up 1.89%), Tata Steel (up 1.32%), Jindal Steel & Power (up 1.27%), Mishra Dhatu Nigam (up 0.90%), JSW Steel (up 0.82%) and MOIL (up 0.69%) advanced. Stocks in Spotlight: Happiest Minds Technologies (HMTL) rose 0.52% to currently trade at Rs 538.65. India Ratings and Research (Ind-Ra) had upgraded the company's long-term issuer rating to 'IND A-' from 'IND BBB+' and maintained 'positive' outlook on the same. The upgrade reflects a substantial increase in HMTL's operating EBITDA margins in 9MFY21, coupled with a healthy cash flow from operations and initial public offering (IPO) proceeds, leading to a significant improvement in the credit metrics and liquidity position. SBI Cards and Payment Services rose 1.2% to Rs 1071.15. The company's board will meet on 12 March 2021, to consider raising funds by issuing Non-Convertible Debentures (NCDs), aggregating to Rs 2,000 crore in one or more tranches over a period of time.
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Benchmark indices further pared gains in afternoon trade. The Nifty slipped below the crucial 15,000 level. Gains were capped as the Brent crude futures surged above $70 a barrel on Monday, following reports of attacks on Saudi Arabian facilities. Higher crude oil prices could increase fiscal deficit, current account deficit and stoke fuel price inflation. At 13:20 IST, the barometer index, the S&P BSE Sensex, was up 134.27 points or 0.27% at 50,539.59. The Nifty 50 index rose 47.45 points or 0.32% at 14,985.55. Infosys (up 1.48%), Reliance Industries (up 0.89%) and Larsen & Toubro (up 3.55%) supported the indices. HDFC (down 1.09%), ICICI Bank (down 1.09%) and HDFC Bank (down 0.63%) were major drags. The broader market was trading firm. The S&P BSE Mid-Cap index rose 0.43%. The S&P BSE Small-Cap index added 0.90%. Buyers outnumbered sellers. On the BSE, 1,795 shares rose and 1,178 shares fell. A total of 224 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 2,014.16 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,191.19 crore in the Indian equity market on 5 March 2021, provisional data showed. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 11,68,49,611 with 25,93,230 deaths. India reported 1,88,747 active cases of COVID-19 infection and 1,57,853 deaths while 1,08,82,798 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Gainers & Losers: UPL (up 5.54%), GAIL (India) (up 5.50%), Larsen & Toubro (up 3.55%), ONGC (up 3.48%) and NTPC (up 3.27%) were major gainers in Nifty 50 index. Ultratech Cement (down 2.06%), Bajaj Finance (down 1.95%), Shree Cement (down 1.48%), IndusInd Bank (down 1.29%) and Wipro (down 1.08%) were major losers in Nifty 50 index. Stocks in Spotlight: Force Motors rose 0.27%. The company's production slipped 1.87% to 1,829 units in February 2021 as against 1,864 units in February 2020. Domestic sales tanked 40.9% to 1,182 units in February 2021 as against 2,000 units in February 2020. Exports soared 286.32% to 452 units in February 2021 compared with 117 units in February 2020. Muthoot Finance declined 2.56% after the company's chairman and whole-time director, M G George Muthoot, passed away on Friday, 5 March 2021. Just Dial spurted 7.75% after the local search engine said it has inked a pact with broadcaster Star India for advertising as co-presenting sponsor during Indian Premier League (IPL) 14. The T20 IPL tournament will be held in April-May 2021. Global Markets: European shares opened higher while Asian shares declined on Monday. The US Senate passed a $1.9 trillion economic relief and stimulus bill on Saturday, paving the way for extensions to unemployment benefits, another round of stimulus checks and aid to state and local governments. However, rising bond yields continued to spark fears that central banks will look to tighten policy sooner than expected. Meanwhile, China's February exports grew at a record pace from a year earlier when COVID-19 battered the world's second-biggest economy, customs data showed on Sunday, while imports rose less sharply. Exports in dollar terms skyrocketed 154.9% in February compared with a year earlier, while imports gained 17.3%, the most since October 2018. Today's session in Asia follows the wild day in US stock market Friday, where stocks roared back from a sharp sell-off as a stronger-than-expected nonfarm payrolls report improved optimism for a quicker economic recovery. Hiring surged in February as U.S. economic activity picked up with COVID-19 cases steadily dropping and vaccine rollouts providing hope for more growth. The Labor Department reported Friday that nonfarm payrolls jumped by 379,000 for the month and the unemployment rate fell to 6.2%. That compared with the unemployment rate holding steady from the 6.3% rate in January. The report further showed that hiring also was stronger in January than initially indicated, with that month's tally revised to 166,000 from 49,000. However, December's count was revised lower from a loss of 227,000 to a drop of 306,000.
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Key equity barometers turned range bound in early afternoon trade. The Nifty continued to hold its crucial 15,000 mark. PSU banks, metals and pharma stocks were in demand. At 12:20 IST, the barometer index, the S&P BSE Sensex, advanced 219.15 points or 0.43% at 50,624.47. The Nifty 50 index rallied 80.15 points or 0.54% at 15,018.25. In the broader market, the S&P BSE Mid-Cap index rose 0.76% while the S&P BSE Small-Cap index added 1.04%. The market breadth was strong. On the BSE, 1,806 shares rose and 1,100 shares fell. A total of 208 shares were unchanged. Gains were capped as the Brent crude futures surged above $70 a barrel on Monday, following reports of attacks on Saudi Arabian facilities. Higher crude oil prices could increase fiscal deficit, current account deficit and stoke fuel price inflation.. Derivatives: The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 3.47% to 24.6725. The Nifty 25 March 2021 futures were trading at 15,036, at a premium of 17.75 points as compared with the spot at 15,018.25. The Nifty option chain for 25 March 2021 expiry showed maximum Call OI of 25.2 lakh contracts at the 16,000 strike price. Maximum Put OI of 37.6 lakh contracts was seen at 14,000 strike price. Buzzing Index: The Nifty Metal index rose 1.45% to 3,925.50. The index fell 4.66% in the previous two sessions. Welspun Corp (up 4.88%), NMDC (up 4.36%), SAIL (up 2.64%), Coal India (up 2.28%) and Jindal Steel & Power (up 1.75%) advanced. Stocks in Spotlight: Maruti Suzuki India gained 0.67%. Total production jumped 19.33% to 1,68,180 units in February 2021 from 1,40,933 units in February 2020. Total passenger vehicles production soared 18.10% to 1,65,783 units in February 2021 as compared to 1,40,370 units in February 2020. Light commercial vehicles production surged 325.75% to 2,397 units in February 2021 from 563 units in February 2020. Adani Ports & Special Economic Zone rose 0.44%. The company's board approved an allotment of upto 1 crore equity shares to Windy Lakeside Investment on a preferential basis. Windy Lakeside Investment is an affiliate of private equity firm Warburg Pincus. The shares will be issued on a preferential basis at a price of Rs 800 per equity share, aggregating to Rs 800 crore. Post allotment, Windy Lakeside Investment will hold 1 crore equity shares, constituting 0.49% of the share capital of Adani Ports. The transaction is subject to the approval of regulatory/statutory authorities and the shareholders of the company.
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The benchmark indices pared gains in mid-morning trade. The Nifty held above the 15,000 mark. IT shares witnessed some bit of value buying. At 11:24 IST, the barometer index, the S&P BSE Sensex, was up 282.24 points or 0.56% to 50,687.56. The Nifty 50 index added 93.55 points or 0.63% to 15,031.65. In the broader market, the S&P BSE Mid-Cap index gained 0.65% while the S&P BSE Small-Cap index rose 0.95%. The market breadth was strong. On the BSE, 1792 shares rose and 997 shares fell. A total of 193 shares were unchanged. Gains were capped as the Brent crude futures surged above $70 a barrel on Monday, following reports of attacks on Saudi Arabian facilities. Higher crude oil prices could increase fiscal deficit, current account deficit and stoke fuel price inflation.. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 116,822,839 with 2,593,073 deaths. India reported 188,747 active cases of COVID-19 infection and 157,853 deaths while 108,39,894 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Buzzing Index: The Nifty IT index rose 0.95% to 25,469.25. The index declined 2.11% in the past two sessions. HCL Tech (up 2.50%), MindTree (up 2.46%), MindTree (up 1.92%), Larsen & Toubro Infotech (up 1.84%), Infosys (up 1.24%), Coforge (up 1.08%), Info Edge India (up 0.87%), TCS (up 0.58%) advanced. Meanwhile, Wipro (down 0.52%) and Mphasis (down 0.27%) lagged behind. Stocks in Spotlight: Mishra Dhatu Nigam (MIDHANI) rose 1.16% to Rs 196.45. MIDHANI has allotted 1,000 commercial papers (CPs) of face value Rs 5 lakh each and an issue price of Rs 4,95,540 each to Union Bank of India on a private placement basis. The CPs hold tenure of 90 days. Credit rating agency CRISIL has rated the CPs at 'CRISIL A1+'. Cipla added 1.09% to Rs 814.25. The drug maker said that its wholly owned subsidiary, Cipla (UK), has been voluntarily liquidated with effect from Friday, 5 March 2021. The company added that this liquidation was a part of internal reorganisation and it will not impact the performance or the revenue of the company. Natco Pharma jumped 4.97% to Rs 874.10 after the company received final approval for everolimus tablets (a generic version of Afinitor) in the US market. Everolimus is indicated in the treatment of breast cancer and a few other types of cancers. As per industry sales data, Afinitor and its therapeutic equivalents had generated annual sales of $712 million in USA during the twelve months ending December 2020. Global Markets: Asian market declined on Monday as rising treasury yields eclipsed the optimism surrounding the global growth outlook and the passage of a $1.9 trillion U.S. stimulus bill. The U.S. Senate passed a $1.9 trillion coronavirus relief package over the weekend that includes direct payments of up to $1,400 to most Americans. The bill is expected to pass in the Democratic-held House this week and sent to President Joe Biden for his signature before a March 14 deadline to renew unemployment aid programs. The fresh round of government spending could cause ripples in the U.S. Treasury market, where the benchmark 10-year yield has risen sharply in recent weeks. The yield rose as high as 1.62% on Friday after starting the calendar year below the 1% mark. Meanwhile, China's February exports grew at a record pace from a year earlier when COVID-19 battered the world's second-biggest economy, customs data showed on Sunday, while imports rose less sharply. Exports in dollar terms skyrocketed 154.9% in February compared with a year earlier, while imports gained 17.3%, the most since October 2018. Today's session in Asia follows the wild day in US stock market Friday, where stocks roared back from a sharp sell-off as a stronger-than-expected nonfarm payrolls report improved optimism for a quicker economic recovery. Hiring surged in February as U.S. economic activity picked up with COVID-19 cases steadily dropping and vaccine rollouts providing hope for more growth. The Labor Department reported Friday that nonfarm payrolls jumped by 379,000 for the month and the unemployment rate fell to 6.2%. That compared with the unemployment rate holding steady from the 6.3% rate in January. The report further showed that hiring also was stronger in January than initially indicated, with that month's tally revised to 166,000 from 49,000. However, December's count was revised lower from a loss of 227,000 to a drop of 306,000.
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Key equity indices extended early gains and hit fresh intraday high in morning trade. The Nifty was trading near the 15,000 mark. Banks, metals and energy shares were in demand. At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 471.44 points or 0.94% to 50,876.76. The Nifty 50 index added 157.55 points or 1.07% to 14,919.10. Investors rejoiced after the US Senate approved the U.S. President Joe Biden's $1.9 trillion COVID-19 relief package. In the broader market, the S&P BSE Mid-Cap index gained 1% while the S&P BSE Small-Cap index rose 1.30%. The market breadth was strong. On the BSE, 1891 shares rose and 730 shares fell. A total of 173 shares were unchanged. Meanwhile, the Brent crude crossed the $70 mark following the attack on a Saudi Arabian oil facility. Saudi Arabia's Energy Ministry reportedly said on Sunday that a drone hit a petroleum tank farm at Ras Tanura port, one of the world's largest oil shipping ports, and shrapnel from a ballistic missile fell near Saudi Aramco's residential area in Dhahran. A ministry spokesman said in a statement on state news agency that neither attack resulted in any injury or loss of life or property. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 116,822,839 with 2,593,073 deaths. India reported 188,747 active cases of COVID-19 infection and 157,853 deaths while 108,39,894 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Buzzing Index: The Nifty Bank index rose 1.07% to 35,603.85. The index declined 3.13% in the past two sessions. Bank of Baroda (up 2.54%), Axis Bank (up 2.40%), Punjab National Bank (up 1.80%), SBI (up 1.75%), IDFC First Bank (up 1.57%), RBL Bank (up 1.55%), Bandhan Bank (up 1.20%), HDFC Bank (up 0.85%) and ICICI Bank (up 0.44%) advanced. Stocks in Spotlight: Muthoot Finance fell 3.84% to Rs 1240.20 after the company said that its chairman M. G. George Muthoot passed away on Friday. The media reports cited police saying the chairman fell from the fourth floor of his house in New Delhi at around 9 pm on Friday. NMDC jumped 4.32% to Rs 138.80. The company's board will meet on Thursday, 11 March 2021, to consider interim dividend for the financial year 2020-21. Meanwhile, the company has left the price of lump ore unchanged at Rs 5,100 per tonne and Rs 4,210 per tonne for fines in its latest price revision announced on Saturday (6 March 2021).
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Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 330.86 points or 0.66% at 50,736.18. The Nifty 50 index was up 112.65 points or 0.75% at 15,050.75. Positive global cues boosted sentiment. The S&P BSE Mid-Cap index was up 0.98%. The S&P BSE Small-Cap index was up 1.23%. The market breadth, indicating the overall health of the market, is strong. On the BSE, 1663 shares rose and 550 shares fell. A total of 132 shares were unchanged. Stocks in news: Maruti Suzuki India rose 0.59%. The company produced total 1,68,180 vehicles in February 2021 as against 1,40,933 vehicles in February 2020. Adani Ports and Special Economic Zone (APSEZ) rose 0.93%. The board of directors of APSEZ approved to issue up to 1 crore equity shares to Windy Lakeside Investment (Windy) at a price of Rs 800 per equity share, for an aggregate consideration of up to Rs 800 crore. Cipla rose 0.96%. Cipla (UK), a wholly owned subsidiary of Cipla (EU) and a wholly owned step down subsidiary of Cipla, has been voluntarily liquidated with effect from 5th March 2021. This liquidation was a part of internal reorganisation and it will not affect performance or revenue of the company. NMDC rose 3.08%. The company has fixed prices of iron ore-lump ore (65.5%, 6-40mm) at Rs 5,100 per tonne and fines (64%, -10mm) at Rs 4,210 per tonne with effect from March 6. Aarti Drugs jumped 5.65%. Aarti Drugs said that its wholly-owned subsidiary Aarti Speciality Chemicals (ASCL) stands out to be one of the beneficiaries of the Government of India's recently approved Production Linked Incentive (PLI) for the Pharmaceutical Sector. Sayaji Hotels gained 4.98%. Sayaji Hotels said that its wholly owned subsidiary Sayaji Hotels Management (SHML), has signed and entered into seven management agreement for the expansion of SHML by having new properties in Andhra Pradesh, Gujrat, Uttarakhand, Rajasthan and Maharashtra. Rushil Decor advanced 4.99%. The company has started the regular commercial production of Thin & Thick Medium Density Fiber Board (MDF Board) at company's new manufacturing unit situated at Vishakhapatnam, Andhra Pradesh. Global Markets: Overseas, Asian stocks are trading higher on Monday on optimism over President Joe Biden's $1.9 trillion Covid-19 relief plan and the global recovery. US stocks recovered from earlier losses on Friday as investors took stock of a report that showed faster-than-expected U.S. jobs growth but which had previously stoked inflation concerns. The U.S. Senate passed a $1.9 trillion coronavirus relief package over the weekend that includes direct payments of up to $1,400 to most Americans. The bill is expected to pass in the Democratic-held House this week and sent to President Joe Biden for his signature before a March 14 deadline to renew unemployment aid programs. Back home, domestic equity benchmarks declined for second trading session on Friday. Resurgent worries about rising US bond yields hit global stocks. Firm crude oil prices also spooked investors. The S&P BSE Sensex, tumbled 440.76 points or 0.87% at 50,405.32. The Nifty 50 index slumped 142.65 points or 0.95% at 14,938.60. Foreign portfolio investors (FPIs) sold shares worth Rs 2,014.16 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,191.19 crore in the Indian equity market on 5 March, provisional data showed.
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| Equity indices extended losses and hit fresh intraday low in mid-afternoon trade. Resurgent worries about rising US bond yields hit global shares. The Nifty slipped below the 15,000 mark. All sectoral indices on the NSE were trading in the red. At 14:28 IST, the barometer index, the S&P BSE Sensex, tumbled 465.99 points or 0.92% at 50,317.20. The Nifty 50 index slumped 169.15 points or 1.12% at 14,911.60. Selling was broad based. The S&P BSE Mid-Cap index was down 2.2% while the S&P BSE Small-Cap index tumbled 1.79%. Both these indices added over 5% each in the past four days. The market breadth was weak. On the BSE, 951 shares rose and 1964 shares fell. A total of 133 shares were unchanged. Firm crude oil prices also spooked investors. Higher crude oil prices could increase fiscal deficit, current account deficit and stoke fuel price inflation. Numbers to Track: In the commodities market, Brent crude for May 2021 settlement rose 83 cents to $67.57 a barrel. The contract increased 4.1% to settle at $66.74 a barrel in the previous session. Global oil prices jumped after OPEC and its allies agreed not to increase the supply in April as they await a more substantial recovery in demand amid the COVID-19 pandemic. The yield on 10-year benchmark federal paper rose to 6.215% as compared to its previous close of 6.212%. In the foreign exchange market, the partially convertible rupee fell to 72.9, compared with its previous closing of 72.8375. MCX Gold futures for 5 April 2021 settlement fell 0.56% to Rs 44,290. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, rose 0.33% to 91.942. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 115,597,805 with 25,69,011 deaths. India reported 176,319 active cases of COVID-19 infection and 157,548 deaths while 108,39,894 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Broader Market Losers: SAIL (down 9%), Jindal Steel & Power (down 6.69%), Canara Bank (down 6.5%), GMR Infra (down 6.3%), Apollo Hospitals (down 5.57%) and Federal Bank (down 5.35%) were top losers in Mid Cap space. Eros Media (down 10%), PTC India Financial Services (down 8.2%), MTNL (down 8%), Zee Learn (down 7.9%), Shree Renuka Sugars (down 7.49%) and Apollo Tyres (down 6.76%) were top losers in Small Cap segment.
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Key benchmark indices continued trading with modest losses in afternoon trade. Rising US Treasury yields spooked equity investors globally. The Nifty held above its crucial 15,000 mark. Banks and metal shares corrected. All the sectoral indices on the NSE were in the red. At 13:20 IST, the barometer index, the S&P BSE Sensex, declined 174.87 points or 0.34% at 50,671.21. The Nifty 50 index lost 65.45 points or 0.43% at 15,015.30. ICICI Bank (down 1.30%), Housing Development Finance Corporation (HDFC) (down 1.25%) and HDFC Bank (down 0.79%) were major drags. Selling was broad based. The S&P BSE Mid-Cap index declined 1.21%. The S&P BSE Small-Cap index fell 0.66%. Sellers outnumbered buyers. On the BSE, 1,180 shares rose and 1,631 shares fell. A total of 165 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 223.11 crore, while domestic institutional investors (DIIs), were also net sellers to the tune of Rs 788.19 crore in the Indian equity market on 4 March 2021, provisional data showed. Gainers & Losers: GAIL (India) (up 2.80%), ONGC (up 2.62%), Maruti Suzuki India (up 2.18%), Hero MotoCorp (up 1.57%) and BPCL (up 1.35%) were major gainers in Nifty 50 index. IndusInd Bank (down 4.99%), UPL (down 3.89%), State Bank of India (SBI) (down 3.02%) and Tata Motors (down 2.89%) were major losers in Nifty 50 index. Stocks in Spotlight: Wipro declined 3.67%. The IT major signed an agreement to acquire Capco, a global management and technology consultancy to banking and financial services industry, for $1.45 billion. London-headquartered Capco is a global management and technology consultancy providing digital, consulting and technology services to financial institutions in the Americas, Europe and the Asia Pacific. Its clients include many marquee names in the global financial services industry. Tejas Networks rose 0.01%. The company on Friday announced that GigNet, a leading digital infrastructure company in Mexico, has selected the company's optical networking and broadband access products for their state-of-the-art, high-capacity fiber optic network expansion in the Cancun region of Mexico. PNB Housing Finance gained 0.53%. PNB Housing and Yes Bank have entered into a strategic co‐lending agreement to offer convenient and customized retail loans to home buyers at competitive interest rates. PNB Housing and Yes Bank will jointly do due diligence and co‐originate the loan at an agreed ratio. PNB Housing Finance will service the customers through the entire loan lifecycle, including sourcing, documentation and collection with an appropriate information sharing arrangement with Yes Bank. Global Markets: US Dow Jones futures were down 134 points, indicating a weak opening in the US stocks on Friday. Shares in Europe and Asia declined across the board on Friday amid rising bond yields. The Chinese government has set its 2021 economic growth target at more than 6%, Premier Li Keqiang said in his annual work report on Friday at the opening of this year's meeting of parliament. China did not set a gross domestic product target last year due to uncertainties arising from the pandemic. The government has set its 2021 target for consumer price inflation at around 3% and its budget deficit goal of around 3.2% of GDP, Li said. US stocks fell sharply on Thursday after Federal Reserve Chair Jerome Powell failed to reassure investors that the central bank would keep surging bond yields and inflation expectations in check. On Thursday, Powell said the economic reopening could create some upward pressure on prices. He said he expects the central bank to be patient in terms of acting on policy, even if the economy sees transitory increases in inflation. Powell noted, however, that the recent rise in yields did catch his attention, as have improving economic conditions. The 10-year Treasury yield, which has been keeping investors on edge in recent weeks, jumped to 1.54% after Powell's remarks. Last week, the benchmark 10-year soared to a high of 1.6% in a sudden move that sparked a big sell-off in stocks. Meanwhile, OPEC and its allies agreed to extend most oil output cuts into April, offering small exemptions to Russia and Kazakhstan, after deciding that the demand recovery from the coronavirus pandemic was still fragile despite a recent oil price rally.
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| Benchmark indices traded in a narrow range with modest losses in early afternoon trade. Resurgent worries about rising US bond yields hit global shares. The Nifty continued to hover around the 15,000 mark. At 12:22 IST, the barometer index, the S&P BSE Sensex, was down 196.97 points or 0.39% at 50,649.20. The Nifty 50 index fell 70.45 points or 0.47% at 15,010.60. In broader market, the S&P BSE Mid-Cap index was down 1.27% while the S&P BSE Small-Cap index was down 0.76%. The market breadth turned negative. On the BSE, 1151 shares rose and 1590 shares fell. A total of 145 shares were unchanged. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 115,597,805 with 25,69,011 deaths. India reported 176,319 active cases of COVID-19 infection and 157,548 deaths while 108,39,894 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Derivatives: The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 7.1% to 25.8650. The Nifty 25 March 2021 futures were trading at 15,008, at a premium of 2.5 point as compared with the spot at 15,005.50. The Nifty option chain for 25 March 2021 expiry showed maximum Call OI of 23.4 lakh contracts at the 16,000 strike price. Maximum Put OI of 36.6 lakh contracts was seen at 14,000 strike price. Buzzing Index: The Nifty Bank index lost 556.75 points or 1.53% to 35,254.50, extending its losing run to second trading session. The index lost 3% in two days. IndusInd Bank (down 5.2%), Bank of Baroda (down 3.6%), PNB (down 3.6%), SBI (down 3.4%), Federal Bank (down 3.2%), Bandhan Bank (down 2.5%) and RBL Bank (down 1.93%) were top losers in Bank Nifty. Stocks in Spotlight: Shilpa Medicare fell 0.68%. The drug company received United States Food and Drug Administration (USFDA)'s tentative approval for its abbreviated new drug application (ANDA), apremilast tablets, 10 mg, 20 mg, and 30 mg. Apremilast tablets, 10 mg, 20 mg, and 30 mg is a generic equivalent of reference listed drug (RLD) OTEZLA of Celgene, used in the treatment of 'psoriatic arthritis' as recommended in the label approved by FDA. According to IQVIA MAT Q2 2020 data, the US market for apremilast tablets, 10 mg, 20 mg, and 30 mg is approximately US $2.4 billion PVR lost 1.4%. The multiplex chain operator announced the launch of its 6-screen property in Forum Centre City Mall, Mysuru on Friday, 5 March 2021. With this opening, PVR strengthens its growth momentum in FY 2020-2021 with 844 screens at 177 properties in 71 cities (India and Sri Lanka).
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| Main indices traded sideways with modest losses in mid-morning trade. Resurgent worries about rising US bond yields hit global shares. The Nifty hovered around the 15,000 mark. All sectoral indices on the NSE traded in the red. At 11:26 IST, the barometer index, the S&P BSE Sensex, was down 232.6 points or 0.46% at 50,613.20. The Nifty 50 index fell 78.45 points or 0.52% at 15,002.60. In broader market, the S&P BSE Mid-Cap index was down 1.33% while the S&P BSE Small-Cap index was down 0.66%. The market breadth turned negative. On the BSE, 1120 shares rose and 1517 shares fell. A total of 155 shares were unchanged. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 115,597,805 with 25,69,011 deaths. India reported 176,319 active cases of COVID-19 infection and 157,548 deaths while 108,39,894 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Buzzing Index: The Nifty Metal index slumped 1.8% to 3,905.20, falling for second trading session. The index has lost 3.78% in two days. National Aluminium Company (down 4.49%), Steel Authority of India (down 4.32%), Jindal Steel & Power (down 4.01%), Hindustan Zinc (down 3.46%), NMDC (down 2.91%), Hindalco Industries (down 2.89%), Tata Steel (down 2.52%), JSW Steel (down 1.73%), Coal India (down 0.99%) and Vedanta (down 0.98%) were top losers in metal space. Stocks in Spotlight: ISGEC Heavy Engineering advanced 4% after the company said it received an order from Shree Cement to set up waste heat recovery boilers at their Raipur unit. The boilers to be set up at Shree Cement's Raipur unit, will be of two types: a PH boiler to be installed at the pre-heater exhaust, and an AQC boiler to be installed at the cooler exhaust from the 10500 TPD kiln. Quick Heal Technologies soared 5.4% to Rs 181.55 after the company said its board will consider a share buyback on 10 March 2021. Global Markets: Asian stocks declined on Friday trade as investors watched bond yields as well as technology stocks in the region. The Chinese government has set its 2021 economic growth target at more than 6%, Premier Li Keqiang said in his annual work report on Friday at the opening of this year's meeting of parliament. China did not set a gross domestic product target last year due to uncertainties arising from the pandemic. The government has set its 2021 target for consumer price inflation at around 3% and its budget deficit goal of around 3.2% of GDP, Li said. US stocks fell sharply on Thursday after Federal Reserve Chair Jerome Powell failed to reassure investors that the central bank would keep surging bond yields and inflation expectations in check. On Thursday, US Federal Reserve Chair Jerome Powell said the economic reopening could create some upward pressure on prices. He said he expects the central bank to be patient in terms of acting on policy, even if the economy sees transitory increases in inflation. Powell noted, however, that the recent rise in yields did catch his attention, as have improving economic conditions. The 10-year Treasury yield, which has been keeping investors on edge in recent weeks, jumped to 1.54% after Powell's remarks. Last week, the benchmark 10-year soared to a high of 1.6% in a sudden move that sparked a big sell-off in stocks. Meanwhile, OPEC and its allies agreed to extend most oil output cuts into April, offering small exemptions to Russia and Kazakhstan, after deciding that the demand recovery from the coronavirus pandemic was still fragile despite a recent oil price rally.
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| Key equity barometers pared early losses in morning trade. Resurgent worries about rising US bond yields hit global shares. The Nifty reclaimed the crucial 15,000 mark after slipping below that level in initial trade. Barring the Nifty Media index, all sectoral indices on the NSE were trading in the red. At 10:29 IST, the barometer index, the S&P BSE Sensex, was down 227.41 points or 0.45% at 50,618.20. The Nifty 50 index fell 68.05 points or 0.45% at 15,012.60. In broader market, the S&P BSE Mid-Cap index was down 0.56% while the S&P BSE Small-Cap index was up 0.02%. The market breadth, indicating the overall health of the market, was positive. On the BSE, 1312 shares rose and 1166 shares fell. A total of 145 shares were unchanged. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 115,597,805 with 25,69,011 deaths. India reported 176,319 active cases of COVID-19 infection and 157,548 deaths while 108,39,894 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. New Listing: Shares of Heranba Industries were currently trading at Rs 878 per share at 10:27 IST on the BSE, at a premium of 40.03% as compared to the issue of Rs 627 apiece. The stock was listed at Rs 900, a premium of 43.54% to the initial public offer (IPO) price. So far, the stock hit a high of Rs 944.95 and low of 860.10. On the BSE, 9.06 lakh shares were traded on the counter so far. The initial public offer (IPO) of Heranba Industries The issue was subscribed 83.29 times. The issue opened for bidding on 23 February 2021 and closed on 25 February 2021. The price band for the IPO was set at Rs 626-627 per share. Buzzing Index: The Nifty PSU Bank slipped 1.8% to 2,392.85, falling for second trading session. The index lost 2.34% in two days. Canara Bank (down 3.4%), Bank of Baroda (down 2.2%), Punjab National Bank (down 1.95%), SBI (down 1.8%), J&K Bank (down 1.8%), Indian Bank (down 0.7%) and Bank of India (down 0.56%) were top losers in PSU Bank segment. Stocks in Spotlight: Dilip Buildcon fell 1.44%. The road construction company received the letter of acceptance (LoA) on 4 March for two projects worth Rs 2,439 crore from the National Highways Authority of India (NHAI) on Hybrid Annuity basis in Karnataka. BCPL Railway Infrastructure spurted 2.50% to Rs 81.85 after the company received a Letter of Acceptance (LOA) from Railway Vikas Nigam (RVNL).It is expected to be executed over a period of 45 days. The recent order adds to the strong orderbook position for the company of around Rs 165 crore.
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Key benchmark indices are trading lower in early trade on selling pressure in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 331.88 points or 0.65% at 50,514.20. The Nifty 50 index was down 94.15 points or 0.62% at 14,986.60. The Nifty dropped below the psychological 15,000 mark in opening trade. Negative Asian stocks impacted sentiment. The S&P BSE Mid-Cap index was down 0.36%. The S&P BSE Small-Cap index was up 0.4%. The market breadth, indicating the overall health of the market, is positive. On the BSE, 1133 shares rose and 924 shares fell. A total of 103 shares were unchanged. Stocks in news: Wipro lost 1.75%. Wipro announced that it has signed an agreement to acquire Capco, a global management and technology consultancy providing digital, consulting and technology services to financial institutions in the Americas, Europe and the Asia Pacific. The purchase consideration is US$ 1,450 million and the transaction is expected to be completed during the quarter ending June 30, 2021. Unichem Laboratories gained 2.04%. Unichem Laboratories announced that it has received ANDA approval for its Guanfacine Tablets, USP 1 mg and 2 mg from the United States Food and Drug Administration (USFDA) to market a generic version of TENEX (Guanfacine) Tablets 1mg and 2 mg of Promius Pharma LLC. Quick Heal Technologies jumped 5.23% after the company informed that the meeting of the board of directors is scheduled on 10 March 2021, to consider and approve proposal for buy back of the fully paid up equity shares of the company. ISGEC Heavy Engineering advanced 2.90% after the company secured a deal from Shree Cement to set up the world's largest waste heat recovery boilers. Tejas Networks rose 2.71% after Mexico's GigNet selected Tejas Networks for its Metro Optical network in Cancun. Global Markets: Overseas, Asian stocks declined on Friday trade as investors watched bond yields as well as technology stocks in the region. The Chinese government has set its 2021 economic growth target at more than 6%, Premier Li Keqiang said in his annual work report on Friday at the opening of this year's meeting of parliament. China did not set a gross domestic product target last year due to uncertainties arising from the pandemic. The government has set its 2021 target for consumer price inflation at around 3% and its budget deficit goal of around 3.2% of GDP, Li said. U.S. stocks fell sharply on Thursday after Federal Reserve Chair Jerome Powell failed to reassure investors that the central bank would keep surging bond yields and inflation expectations in check. On Thursday, U.S. Federal Reserve Chair Jerome Powell said the economic reopening could “create some upward pressure on prices.” He said he expects the central bank to be “patient” in terms of acting on policy, even if the economy sees “transitory increases in inflation.” Powell noted, however, that the recent rise in yields did catch his attention, as have improving economic conditions. The 10-year Treasury yield, which has been keeping investors on edge in recent weeks, jumped to 1.54% after Powell's remarks. Last week, the benchmark 10-year soared to a high of 1.6% in a sudden move that sparked a big sell-off in stocks. The number of Americans filing new claims for unemployment benefits rose last week. Initial claims for state unemployment benefits totaled a seasonally adjusted 745,000 for the week ended February 27, compared to 736,000 in the prior week, the Labor Department said on Thursday. Meanwhile, OPEC and its allies agreed to extend most oil output cuts into April, offering small exemptions to Russia and Kazakhstan, after deciding that the demand recovery from the coronavirus pandemic was still fragile despite a recent oil price rally. Back home, the main stock indices tumbled on Thursday after rising for three consecutive sessions, dragged by losses in metal and financial stocks. A rise in US bond yields spoilt investor sentiment globally. The barometer index, the S&P BSE Sensex, lost 598.57 points or 1.16% at 50,846.08. The Nifty 50 index declined 164.85 points or 1.08% at 15,080.75. Foreign portfolio investors (FPIs) sold shares worth Rs 223.11 crore, while domestic institutional investors (DIIs), were also net sellers to the tune of Rs 788.19 crore in the Indian equity market on 4 March, provisional data showed.
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| Barometer indices were trading sideways with losses in mid-afternoon trade. The Nifty held above the 15,150 level. At 14:31 IST, the barometer index, the S&P BSE Sensex, declined 317 points or 0.62% at 51,127.18. The Nifty 50 index lost 83.25 points or 0.55% at 15,162.10. A rise in US bond yields spoilt investor sentiment globally. The broader market continued trading firm. The S&P BSE Mid-Cap index added 0.87% while the S&P BSE Small-Cap index rose 1.1%. Buyers outpaced sellers. On the BSE, 1,634 shares rose and 1,262 shares fell. A total of 198 shares were unchanged. Broader Market Gainers: Adani Power (up 10%), BHEL (up 8.9%), IDBI Bank (up 8.3%), Container Corporation of India (up 7.1%), GMR Infra (up 7%), AU Small Finance Bank (up 6.5%) and Natco Pharma (up 5.8%) were top gainers in BSE Mid Cap index. Rane Madras (up 20%), Seya Industries (up 18.3%), Welspun Enterprises (up 15.4%), Balmer Lawrie (up 14.5%), Jindal Poly Films (up 13.58%), Gati (up 12.24%) and Indiabulls Real Estate (up 10%) were top gainers in BSE Small Cap index. Numbers to Track: The yield on 10-year benchmark federal paper fell to 6.22% as compared to its previous close of 6.238%. In the foreign exchange market, the partially convertible rupee fell to 72.7775, compared with its previous closing of 72.72. MCX Gold futures for 5 April 2021 settlement fell 0.46% to Rs 44,739. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, rose 0.27% to 91.183. In the commodities market, Brent crude for May 2021 settlement rose 31 cents to $64.38 a barrel. The contract increased 2.1% to settle at $64.07 a barrel in the previous session. Stocks in Spotlight: Ashoka Buildcon gained 3.6% after the company entered into a share purchase agreement with India Infrastructure Fund (IIF) for acquiring 49% stake in Ashoka Highways (Bhandara) (AHBL). The deal involves acquisition of 1,27,95,399 equity share held by IIF in AHBL along with zero interest shareholders loan for an aggregate consideration of Rs 35.98 crore. IRCON International rose 1.98%. The EPC company has secured the work for replacement of mechanical signalling at various locations at Moradabad (Uttar Pradesh) at the expected completion cost of Rs 187.80 crore. The tenure for execution of the works is 24 months. The work was awarded based on competitive bidding among the public sector undertakings (PSUs) by the Northern Railways, Ministry of Railways. The announcement was made after market hours yesterday, 3 March 2021.
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Benchmark indices were trading with modest losses in afternoon trade. At 13:15 IST, the barometer index, the S&P BSE Sensex, declined 236.47 points or 0.46% at 51,208.18. The Nifty 50 index lost 53.50 points or 0.35% at 15,192.10. A rise in US bond yields spoilt investor sentiment globally. HDFC (down 2.18%), HDFC Bank (down 1.23%) and Reliance Industries (down 0.74%) were major drags. The broader market was trading firm. The S&P BSE Mid-Cap index added 0.79%. The S&P BSE Small-Cap index rose 1%. Buyers outpaced sellers. On the BSE, 1,585 shares rose and 1,215 shares fell. A total of 192 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 2,088.70 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 392.91 crore in the Indian equity market on 3 March 2021, provisional data showed. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 11,51,65,467 with 25,59,576 deaths. India reported 1,73,413 active cases of COVID-19 infection and 1,57,435 deaths while 1,08,26,075 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Gainers & Losers: Tata Steel (up 5.71%), Adani Ports & Special Economic Zone (APSEZ) (up 4.14%), Bajaj Finserv (up 3.82%), JSW Steel (up 3.70%) and Axis Bank (up 3.36%) were major gainers in Nifty 50 index. Hero MotoCorp (down 1.42%), Bajaj Auto (down 1.05%), Maruti Suzuki India (down 1.03%), Mahindra & Mahindra (M&M) (down 0.72%) and BPCL (down 0.68%) were major losers in Nifty 50 index. Stocks in Spotlight: Bajaj Electricals was up 2.34% and Mahindra Logistics (MLL) rallied 5.64%. MLL signed an agreement with Bajaj Electricals for innovative logistics optimisation and outsourcing. This deal is a complete end-to-end re-design and outsourcing of Bajaj Electricals' entire logistics by Mahindra Logistics, with the twin objectives of achieving enhanced & industry-best service levels, coupled with a logistics cost saving in excess of 25%. The total contract value of this deal will be in excess of Rs 1,000 crore over the next 5 years. V.S.T. Tillers Tractors advanced 2.20% after the company entered into a share purchase agreement (SPA) for an investment of $1,500,000 (about Rs 11,07,15,000) in series A preferred stock of Zimeno Inc. Zimeno Inc is an unlisted company incorporated in the United States of America (USA). Zimeno Inc is in the development of electric autonomous tractor. After the allotment of Series A preferred stock, the company's shareholding in Zimeno will be about 2% on fully diluted basis. Alembic Pharmaceuticals fell 0.69%. The drug maker announced that its joint venture (JV), Aleor Dermaceuticals has received the final approval from the US drug regulator for its Abbreviated New Drug Application (ANDA) for testosterone gel, 1.62%. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), AndroGel 1.62%, of AbbVie Inc. (AbbVie). Testosterone gel, 1.62% (20.25 mg/1.25 gm actuation) is indicated for replacement therapy in adult males for conditions associated with a deficiency or absence of endogenous testosterone: primary hypogonadism (congenital or acquired) and hypogonadotropic hypogonadism (congenital or acquired). Aleor Dermaceuticals (Aleor) had previously received tentative approval for this ANDA. Global Markets: Shares in Europe and Asia declined on Thursday following an overnight slide on the Wall Street as bond yields rose again. US stocks posted heavy losses on Wednesday as rising bond yields spooked investors. The weakness came as the 10-year Treasury yield extended gains. The benchmark rate climbed to a high of 1.49% on Wednesday before retreating slightly. Last week, the yield surged to a high of 1.6% in a move that some described as a flash spike. The U.S. economic recovery continued at a modest pace over the first weeks of this year, with businesses optimistic about the months to come and demand for housing robust, but only slow improvement in the job market, the Federal Reserve reported. In oil developments, OPEC and its non-OPEC partners - an energy alliance sometimes referred to as OPEC+ - are expected to convene via video conference on Thursday to discuss how to manage supply to the market.
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The equity barometers were trading in a narrow range with modest losses in early afternoon trade. A rise in US bond yields spoilt investor sentiment globally. The Nifty was trading above 15,150 mark. At 12:20 IST, the barometer index, the S&P BSE Sensex, dropped 335.06 points or 0.65% at 51,109.59. The Nifty 50 index slipped 89.75 points or 0.59% at 15,155.85. In the broader market, the S&P BSE Mid-Cap index rose 0.79% while the S&P BSE Small-Cap index added 0.94%. The market breadth was positive. On the BSE, 1,566 shares rose and 1,207 shares fell. A total of 176 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 5.69% to 23.3475. The Nifty 25 March 2021 futures were trading at 15,155, at a discount of 0.85 point as compared with the spot at 15,155.85. The Nifty option chain for 25 March 2021 expiry showed maximum Call OI of 21.2 lakh contracts at the 16,000 strike price. Maximum Put OI of 32.3 lakh contracts was seen at 14,000 strike price. Coronavirus Update: Total COVID-19 confirmed cases worldwide stood at 11,51,74,302 with 25,59,473 deaths. India reported 1,73,413 active cases of COVID-19 infection and 1,57,435 deaths while 1,08,26,075 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Buzzing Index: The Nifty Metal index corrected 1.60% to 3,993.60. The index surged 6.17% in the past three sessions. Hindustan Copper (down 4.31%), Jindal Steel & Power (down 3.03%), SAIL (down 2.74%), JSW Steel (down 2.60%) and Tata Steel (down 2.08%) declined. Stocks in Spotlight: Great Eastern Shipping Company (G E Shipping) fell 0.08%. The company has signed a contract to buy a secondhand Supramax Bulk Carrier of about 56,103 deadweight tonnage (dwt). The 2013 Japanese built vessel is expected to join the company's fleet in Q1 FY22. Infosys rose 0.49%. The IT major announced that it would be bringing 500 jobs to Calgary over the next three years, doubling its Canadian workforce to 4,000 employees by 2023.
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| The equity barometers further pared losses in mid-morning trade. The Nifty hovered above the 15,100 level. A rise in US bond yields spoiled investor sentiment globally. Banks, financials and metal shares corrected while media stocks bucked the trend. At 11:28 IST, the barometer index, the S&P BSE Sensex, was down 451.73 points or 0.88% at 50,992.99. The Nifty 50 index was down 124.15 points or 0.81% at 15,121.55. The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index was up 0.71% while the S&P BSE Small-Cap index surged 0.92%. The market breadth was positive. On the BSE, 1491 shares rose and 1166 shares fell. A total of 170 shares were unchanged. The US Dow Jones Futures were down 107 points, indicating a negative start in US markets today. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 115,173,954 with 25,59,255 deaths. India reported 173,413 active cases of COVID-19 infection and 157,435 deaths while 108,26,075 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Primary Market: The initial public offer (IPO) of MTAR Technologies received bids for 3.63 crore shares as against 72.60 lakh shares on offer today, according to the stock exchange data at 11:10 IST. The issue was subscribed 5 times. The issue opened for bidding on yesterday, 3 March 2021, and it will close on tomorrow, 5 March 2021. The price band for the IPO is set at Rs 574-575 per share. An investor can bid for a minimum lot of 26 equity shares and in multiples thereof. The IPO comprises both fresh issue of shares as well as offer for sales from promoters as well as investors. The fresh issue component comprises issue of up to 21,48,149 equity shares and the offer for sales comprises sale of up to 82,24,270 equity shares. Buzzing Index: The Nifty Media index rose 1.96% to 1,753.45, extending its winning run to fourth consecutive trading session. The index has rallied nearly 8% in four days. PVR (up 4%), Jagran Prakashan (up 3.91%), Zee Entertainment (up 3.58%), Inox Leisure (up 2.8%), TV Today (up 1.27%) and Sun TV Network (up 0.69%) were top gainers in this segment. Stocks in Spotlight: Bharti Airtel lost 0.92%. The telecom major on Wednesday said it has raised $750 million through allotment of unsecured senior fixed rate notes to eligible investors. The notes bear a coupon rate of 3.25% and are due on the year 2031. The notes shall be listed on the Singapore Exchange Securities Trading. HDFC dropped 2.48%. The company has reduced its Retail Prime Lending Rate (RPLR) on housing loans, on which its Adjustable-Rate Home Loans (ARHL) are benchmarked, by 5 basis points, with effect from March 4, 2021. The change will benefit all existing HDFC retail home loan customers. Global Markets: Asian stocks were trading lower on Thursday following overnight decline on Wall Street as bond yields rose again. US stocks posted heavy losses on Wednesday as rising bond yields spooked investors. The weakness came as the 10-year Treasury yield extended gains. The benchmark rate climbed to a high of 1.49% on Wednesday before retreating slightly. Last week, the yield surged to a high of 1.6% in a move that some described as a flash spike. The U.S. economic recovery continued at a modest pace over the first weeks of this year, with businesses optimistic about the months to come and demand for housing robust, but only slow improvement in the job market, the Federal Reserve reported. In oil developments, OPEC and its non-OPEC partners — an energy alliance sometimes referred to as OPEC+ — are expected to convene via video conference on Thursday to discuss how to manage supply to the market.
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| Key domestic indices came off the day's low in morning trade. The Nifty regained 15,000 mark after briefly slipping below that level in early trade. A rise in US bond yields spoiled investor sentiment globally. Banks, financials and metal shares corrected. Media and realty shares bucked trend. At 10:29 IST, the barometer index, the S&P BSE Sensex, was down 660 points or 1.28% at 50,784.99. The Nifty 50 index was down 182 points or 1.2% at 15,063.55. The broader market was trading firm. The S&P BSE Mid-Cap index was up 0.68% while the S&P BSE Small-Cap index was gained 0.69%. The market breadth was positive. On the BSE, 1350 shares rose and 1163 shares fell. A total of 137 shares were unchanged. The US Dow Jones Futures were down 104 points, indicating a negative start in US markets today. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 115,173,954 with 25,59,255 deaths. India reported 173,413 active cases of COVID-19 infection and 157,435 deaths while 108,26,075 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Buzzing Index: The Nifty Bank index slipped 2.08% to 35,611.55, snapping its three-day rising streak. The index rallied 4.5% in three trading sessions. HDFC Bank (down 2.84%), Axis Bank (down 2.32%), RBL Bank (down 2.27%), ICICI Bank (down 2.18%), Kotak Mahindra Bank (down 1.98%), IndusInd Bank (down 1.6%), Bandhan Bank (down 1.44%) and SBI (down 1.2%) were top losers in banking space. Stocks in Spotlight: Adani Ports and Special Economic Zone (APSEZ) rose 2.05% to Rs 744.50 after the company said that it is acquiring the 31.5% stake held by Windy Lakeside Investment (an affiliate of Warburg Pincus) in Gangavaram Port (GPL). The acquisition is valued at Rs 1,954 crore and subject to regulatory approvals, the company said in a statement Mazagon Dock Shipbuilders was up 0.58%. The company on Wednesday announced that the commissioning of the 3rd Scorpene Submarine Karanj is scheduled on 10 March 2021. Further, the company said that the sea trials of first ship Visakhapatnam of Project P-15B, which is due for delivery later this year, have commenced.
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Key benchmark indices are trading weak in early trade on selling pressure in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 618.66 points or 1.2% at 50,825.99. The Nifty 50 index was down 188.05 points or 1.23% at 15,057.55. The Negative global stocks dampened sentiment. The S&P BSE Mid-Cap index was down 0.34%. The S&P BSE Small-Cap index was up 0.12%. The market breadth, indicating the overall health of the market, is negative. On the BSE, 996 shares rose and 1094 shares fell. A total of 94 shares were unchanged. Stocks in news: HDFC dropped 2.64%. HDFC has reduced its Retail Prime Lending Rate (RPLR) on housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 5 basis points, with effect from March 4, 2021. The change will benefit all existing HDFC retail home loan customers. Adani Ports and Special Economic Zones (APSEZ) rose 1.64%. APSEZ is acquiring the 31.5% stake held by Windy Lakeside Investment (an affiliate of Warburg Pincus) in Gangavaram Port (GPL). The acquisition is valued at Rs.1,954 crore and subject to regulatory approvals. Bajaj Electricals surged 4.29%. Mahindra Logistics jumped 9.12%. Bajaj Electricals and Mahindra Logistics made an announcement of signing an agreement for innovative Logistics optimisation and outsourcing arrangement. This deal is a complete end-to-end redesign and outsourcing of Bajaj Electricals' entire logistics by Mahindra Logistics, with the twin objectives of achieving enhanced & industry-best service levels, coupled with a logistics cost saving in excess of 25%. IRCTC gained 1.63%. IRCTC said the company will operate trips through Golden Chariot from 14th March, 2021 onwards. IRCON International slipped 0.88%. The company has been awarded the work for replacement of mechanical signaling at various locations at Moradabad at the expected completion cost of Rs 187 .80 crore. The tenure for execution of the works is 24 months. This work has been awarded on competitive bidding basis among PSUs by the Northern Railways, Ministry of Railways. V.S.T Tillers Tractors advanced 1.49%. The company has entered into a share purchase agreement for investment in Series A Preferred Stock of Zimeno Inc (Investee Company). The investee company is in the development of Electric Autonomous Tractor. Global Markets: Overseas, Asian stocks are trading lower on Thursday following overnight declines on Wall Street as bond yields rose again. US stocks posted heavy losses on Wednesday as rising bond yields spooked investors. The weakness came as the 10-year Treasury yield extended gains. The benchmark rate climbed to a high of 1.49% on Wednesday before retreating slightly. Last week, the yield surged to a high of 1.6% in a move that some described as a “flash” spike. The U.S. economic recovery continued at a modest pace over the first weeks of this year, with businesses optimistic about the months to come and demand for housing “robust,” but only slow improvement in the job market, the Federal Reserve reported. In oil developments, OPEC and its non-OPEC partners — an energy alliance sometimes referred to as OPEC+ — are expected to convene via videoconference on Thursday to discuss how to manage supply to the market. Back home, domestic shares rallied for the third straight session on Wednesday led by gains in banks, financials and metal stocks. Stocks rallied across the globe as easing US Treasury yields fuelled demand for riskier assets. The barometer index, the S&P BSE Sensex, jumped 1,147.76 points or 2.28% at 51,444.65. The Nifty 50 index soared 326.50 points or 2.19% at 15,245.60. Foreign portfolio investors (FPIs) bought shares worth Rs 2,088.70 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 392.91 crore in the Indian equity market on 3 March, provisional data showed.
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| Equity indices surged to fresh intraday high in mid afternoon trade. Barring auto stocks, buying was seen across the board. At 14:30 IST, the barometer index, the S&P BSE Sensex, jumped 904.18 points or 1.8% at 51,201.91. The Nifty 50 index gained 257.6 points or 1.73% at 15,176.25. The broader market rallied. The S&P BSE Mid-Cap index added 1.15% while the S&P BSE Small-Cap index rose 1.48%. Buyers outnumbered sellers. On the BSE, 1,850 shares rose and 1,074 shares fell. A total of 173 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 2,223.16 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 854.04 crore in the Indian equity market on 2 March 2021, provisional data showed. Economy: IHS Markit India Services PMI rose to 55.3 in February 2021 from 52.8 in January 2021. The seasonally adjusted India Services Business Activity Index pointed to the sharpest rate of expansion in output in one year. Moreover, the latest reading extended the current growth sequence to five months. Survey participants linked the upturn to improved demand and more favourable market conditions. New work intakes expanded for the fifth straight month, and at the fastest pace over this sequence. According to monitored companies, marketing efforts and increases in new clients led to sales growth. Meanwhile, the auction of telecom spectrum ended on Tuesday (2 March) with total bids of Rs 77,814.80 crore for the airwaves. Telecommunications Secretary Anshu Prakash said, incremental bids for Rs 668.20 crore were made on the second and concluding day of spectrum auction. The bidding took place for spectrum in 800-Megahertz, 900-Megahertz, 1,800-Megahertz, 2,100 Megahertz and 2,300 Megahertz bands. The total quantity of spectrum for which right to use has been acquired in these bands is 855.60 Megahertz. Three bidders, Bharti Airtel, Vodafone Idea and Reliance JioInfocomm participated in the auction. A total quantity of 2,308.80-Megahertz spectrum was put to auction, including spectrum that is expiring up to December this year. Spectrum Usage Charges for the spectrum acquired in this auction will be payable at the rate of 3% of adjusted gross revenue of the licensee, excluding revenue from wireline services. Buzzing Index: The Nifty IT index surged 1.39% to 25,652.40, rising for third trading session. The index has added 5.56% in three trading days. Coforge (up 2.65%), Infosys (up 2.2%), L&T Infotech (up 2.13%), Info Edge (up 1.74%), TCS (up 1.3%), HCL Tech (up 0.75%) and Tech Mahindra (up 0.64%) were top gainers in IT segment. Numbers to Track: The yield on 10-year benchmark federal paper rose to 6.243% as compared to its previous close of 6.236%. In the foreign exchange market, the partially convertible rupee rose to 72.9525, compared with its previous closing of 73.3700. MCX Gold futures for 5 April 2021 settlement fell 0.79% to Rs 45,187. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, rose 0.03% to 90.817. In the commodities market, Brent crude for May 2021 settlement rose 24 cents to $62.94 a barrel. The contract slipped 1.55% to settle at $62.7 a barrel in the previous session.
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The benchmark indices continued marching ahead in the afternoon trade. The Nifty index was hovering above 15,100 mark. At 13:20 IST, the barometer index, the S&P BSE Sensex, jumped 728.02 points or 1.45% at 51,024.91. The Nifty 50 index gained 218.15 points or 1.46% at 15,137.25. ICICI Bank (up 2.59%), Infosys (up 2.32%) and HDFC (up 2.12%) boosted the indices. The broader market rallied. The S&P BSE Mid-Cap index added 1.18%. The S&P BSE Small-Cap index rose 1.60%. Buyers outnumbered sellers. On the BSE, 1,847 shares rose and 1,029 shares fell. A total of 177 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 2,223.16 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 854.04 crore in the Indian equity market on 2 March 2021, provisional data showed. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 11,47,51,575 with 25,49,260 deaths. India reported 1,70,126 active cases of COVID-19 infection and 1,57,346 deaths while 1,08,12,044 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Economy: IHS Markit India Services PMI rose to 55.3 in February 2021 from 52.8 in January 2021. The seasonally adjusted India Services Business Activity Index pointed to the sharpest rate of expansion in output in one year. Moreover, the latest reading extended the current growth sequence to five months. Survey participants linked the upturn to improved demand and more favourable market conditions. New work intakes expanded for the fifth straight month, and at the fastest pace over this sequence. According to monitored companies, marketing efforts and increases in new clients led to sales growth. Meanwhile, the auction of telecom spectrum ended on Tuesday (2 March) with total bids of 77 thousand eight hundred 14 crore 80 lakh rupees for the airwaves. Telecommunications Secretary Anshu Prakash said, incremental bids for 668.20 crore rupees were made on the second and concluding day of spectrum auction. The bidding took place for spectrum in 800 Megahertz, 900 Megahertz, 1,800 Megahertz, 2,100 Megahertz and 2,300 Megahertz bands. The total quantity of spectrum for which right to use has been acquired in these bands is 855.60 Megahertz. Three bidders, Bharti Airtel, Vodafone Idea and Reliance JioInfocomm participated in the auction. A total quantity of 2,308.80 Megahertz spectrum was put to auction, including spectrum that is expiring up to December this year. Reliance Jio was the biggest bidder acquiring 488.35 Megahertz of spectrum for over 57 thousand 1 hundred 22 crore rupees. Bharti Airtel bid for 355.45 Megahertz of spectrum for over 18 thousand 6 hundred 98 crore rupees. Vodafone Idea bid for 11.80 Megahertz of airwaves for over 1 thousand 9 hundred 93 crore rupees. Spectrum Usage Charges for the spectrum acquired in this auction will be payable at the rate of 3% of adjusted gross revenue of the licensee, excluding revenue from wireline services. Gainers & Losers: Tata Steel (up 5.71%), Adani Ports & Special Economic Zone (APSEZ) (up 4.14%), Bajaj Finserv (up 3.82%), JSW Steel (up 3.70%) and Axis Bank (up 3.36%) were major gainers in Nifty 50 index. Hero MotoCorp (down 1.42%), Bajaj Auto (down 1.05%), Maruti Suzuki India (down 1.03%), Mahindra & Mahindra (M&M) (down 0.72%) and BPCL (down 0.68%) were major losers in Nifty 50 index. Stocks in Spotlight: RPP Infra Projects spurted 5.78% after the company received letter of acceptance for four projects worth Rs 1,000 crore. The company's current order book stands at Rs 3,200 crore. Power Mech Projects advanced 2.78% after the company received letters of award for orders worth Rs 734 crore. Global Markets: Shares in Europe and Asia rallied across the board on Wednesday amid optimism that more imminent U.S. stimulus will energise the global economic recovery. China's Caixin/Markit Services Purchasing Managers' Index came in at 51.5 for February, a decline from January's reading of 52. PMI readings above 50 represent expansion while those below that level signify contraction. Japan's services sector extended declines in February for a 13th straight month. The final au Jibun Bank Japan Services Purchasing Managers' Index (PMI) came in at a seasonally adjusted 46.3. U.S. stocks fell on Tuesday led by technology names, as the market gave back some of the strong gains from the previous session. In coronavirus developments, U.S. President Joe Biden said Tuesday the country will have a large enough supply of coronavirus vaccines to inoculate every adult in the nation by the end of May - two months earlier than previously expected.
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