06 Mar, 2024 | 03:09:46 PM IST
Indian benchmark indices traded in the green, as they staged a smart rebound from day’s low. Both Sensex and Nifty rose to fresh lifetime highs as they resumed their rally after one-day hiatus. Private banking stocks led the rally which saw Sensex crossing 74,000 mark and Nifty topping 22,400 for first time.
Shares of JM Financial fell over 14% after the Reserve Bank of India barred the company from doing any form of financing against shares and debentures.
“Nifty is likely to consolidate at around the present levels. Dips will be bought since institutional buying has been strong. Sentiments are a bit weak in the NBFC space due to RBI’s restrictive actions against some NBFCs,” said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
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Stock Market LIVE Updates: HK stocks rebound, China flat as investors await signals from parliament meeting
Hong Kong stocks rebounded on Wednesday from a decline in the previous session while China shares were largely flat as investors await policy support details from the National People’s Congress (NPC) this week.
** Hong Kong’s Hang Seng Index climbed 1.7%, and the Hang Seng China Enterprises Index jumped 2%.
** The blue-chip CSI 300 Index dipped 0.4%, and the Shanghai Composite Index edged down 0.3%, both snapping a four-day winning streak.
Etihad posts 2022, 2023 profits and is readying for possible IPO: CEO
Abu Dhabi’s Etihad Airways has returned to profit and is improving its transparency, governance and balance sheet to be ready for an initial public offering should its sovereign wealth fund owner decide to list it, CEO Antonoaldo Neves said.
The United Arab Emirates’ national carrier on Wednesday posted net profits for 2022 and 2023 after a run of significant losses since 2016.
Sensex Today | Stock Market LIVE Updates: Mahindra & Mahindra Financial Services will adopt a de-risking strategy and aims to nearly double its non-vehicle loans portfolio in the next financial year, its vice chairman and managing director said on Wednesday.
Price as on 02:50:46 PM 02:50 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Sensex crosses 74K for first time ever
Stock Market LIVE Updates: NIFTY HITS FRESH RECORD HIGH
Sensex Today | Stock Market LIVE Updates: Private banks at the forefront of market rally
Check top gainers from Nifty Private Bank index
Sensex Today | Stock Market LIVE Updates: Sensex recovers 600 points from day’s low, up nearly 300 points
Fairfax India commits up to USD 200 mn to IIFL Finance
Indian-Canadian billionaire Prem Watsa-backed Fairfax India on Wednesday announced its commitment to provide up to USD 200 million (about Rs 1,650 crore) liquidity support to IIFL Finance after the Reserve Bank of India barred the non-bank lender to disburse gold loans. The RBI’s embargo has raised liquidity concerns among the company’s investors and lenders, Fairfax India Holdings Corporation said in a statement.
In response to these concerns, Fairfax India has agreed to extend up to USD 200 million of liquidity support on terms to be mutually agreed and subject to applicable laws, including regulatory approvals (if any), it added.
Gold holds above $2,100, near record high; focus on Powell testimony
Gold prices held above the $2,100 level on Wednesday, near a record peak hit in the previous session, as hopes for U.S. rates easing by mid-year mount, while traders awaited remarks on the economy’s health from Federal Reserve Chair Jerome Powell.
Spot gold was steady at $2,127.39 per ounce, as of 0829 GMT. U.S. gold futures fell 0.3% to $2,135.30.
CRYPTO NEWS | Ether hits highest level since Jan 2022, last up 8.4% at $3,818.9
Bitcoin up 5.7% at $66,921
Sensex Today | Stock Market LIVE Updates: Azad Engineering secured a long-term strategic supplier agreement with Nuovo Pignone Srl
Price as on 01:49:08 PM 01:49 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Tara Chand Infralogistic Solutions gets LoI from Steel Authority Of India for Rs 110 crore
Price as on 01:47:59 PM 01:47 PM, Click on company names for their live prices.
European stock markets stable at open
Europe’s main stock markets steadied at the start of trading on Wednesday following a mixed showing for Asia’s major indices.
London’s FTSE 100 index was flat at 7,644.32 points, as investors awaited a UK government budget set to feature tax cuts before a general election likely this year.
In the eurozone, the Paris CAC 40 eased 0.1 percent to 7,929.20 points and Frankfurt’s DAX index edged down 0.1 percent to 17,689.27.
Gold scaled a record high moving further above $2,100 in a rally sparked by growing bets for a U.S. interest rate cut in June and on safe-haven demand due to the conflict in the Middle East. A wider robust fundamental backdrop added support, including strong physical demand in Asia and central bank purchases. Dollar index and US 10 Yields have been very resilient during this volatility in commodities market, hovering around the 104 and 3.2% mark. The Fed chair Powell’s two day congressional testimony will be closely watched for more clarity on US interest rate path. Bets for a rate cut in June Fed meeting has increased from 40% to ~55% in a month. Gold which is looked as a store of value during times of political and financial uncertainty, has climbed by over $300 since the Israel-Hamas war. However, updates regarding cease fire and an ease off in the war will be important to keep an eye on. US Services PMI and factors data were reported lower than expectations in the previous session. After series of weaker economic data last week focus now shifts to US labour market data scheduled this week, which if reported lower than expectations it could further increase gains for bullions.
– Manav Modi, Analyst, Commodity and Currency, Motilal Oswal Financial Services
Sensex Today | Stock Market LIVE Updates: Axis Bank accepts bids for 10-year infra bonds – bankers
Price as on 01:01:14 PM 01:01 PM, Click on company names for their live prices.
Bitcoin back on the rise after vaulting to new record
Bitcoin rallied again on Wednesday after retreating briefly from an all-time high it set less than 24 hours earlier, as bulls showed few signs of pulling their bets on the world’s largest cryptocurrency.
Bitcoin jumped 5% during the Asian session to an intraday peak of $66,540 in volatile trading, not too far from Tuesday’s record high of $69,202. It was last 4% higher at $65,946.
Sensex Today | Stock Market LIVE Updates: Antfin sells 17.64 cr Zomato shares at Rs 160.1/each: Agencies
Tokyo’s Nikkei index inches down at close
Tokyo’s key Nikkei index ended marginally lower on Wednesday as global investors locked in profits after recent rallies.
The benchmark Nikkei 225 index edged down 0.02 percent, or 6.85 points, to end at 40,090.78, while the broader Topix index added 0.39 percent, or 10.74 points, to 2,730.67.
Sensex Today | Stock Market LIVE Updates | Top gainers & losers at this hour
Price as on 12:21:22 PM 12:21 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Nifty Midcap & smallcap slips below 50-DMA
Sensex Today | Stock Market LIVE Updates: These metal stocks lose mettle, rank up to 5%
Price as on 11:54:31 AM 11:54 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Fairfax India agrees to invest up to $200 million liquidity support to IIFL Finance
Price as on 11:25:20 AM 11:25 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Veefin Solutions gets nod to raise Rs. 48 crores through preferential issue
Price as on 11:14:42 AM 11:14 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Ajmera Realty inks Rs 500 crore of structured deal for Ajmera Manhattan, partly prepays GCP loan
Price as on 11:05:54 AM 11:05 AM, Click on company names for their live prices.
Gold holds above $2,100 near record high, focus on Powell testimony
Gold prices held above the $2,100 level on Wednesday, near a record peak hit in the previous session as hopes for U.S. rates easing by mid-year mount, while traders awaited remarks on the economy’s health from Federal Reserve Chair Jerome Powell.
Spot gold edged down 0.1% at $2,126.13 per ounce, as of 0458 GMT. U.S. gold futures fell 0.4% to $2,134.30.
Sensex Today | Stock Market LIVE Updates: Droneacharya Aerial Innovations announces foray into Southeast Asian Market
Price as on 10:46:16 AM 10:46 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Venus Remedies awarded its first incentive of Rs.7.50 crores under PLI scheme.
Price as on 10:46:02 AM 10:46 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | JSW Steel appoints Robert Simon as CEO of JSW USA
Price as on 10:31:19 AM 10:31 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Mic Electronics gets order worth Rs 1.77 crore
Price as on 10:13:59 AM 10:13 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: LTIMindtree executes shareholder’s agreement between Co, Global Digital Integrated Solutions
- Initial investment by LTIMindtree will be $12.3 million, in one or more tranches
- Once JV co is incorporated, LTIMindtree will hold 51% of share capital in JV co
Sensex Today | Stock Market LIVE Updates: To expand business amid strong housing demand, realty firm Godrej Properties Ltd has acquired multiple land parcels so far this fiscal that have the potential to generate revenue of around Rs 20,000 crore.
Price as on 10:12:43 AM 10:12 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Ramco Cements to issue multiple tenor bonds – bankers
Price as on 10:11:22 AM 10:11 AM, Click on company names for their live prices.
Indian bond markets eye smaller below-$5 bln inflow from Bloomberg inclusion
Indian government bond market participants said on Wednesday they expect inflows of less than $5 billion from the recent inclusion in the Bloomberg Index Services, which is unlikely to have any material impact on bond yields.
Bloomberg Index Services said on Tuesday it would include 34 Indian government bonds eligible for investment via the country’s fully accessible route (FAR), in its Emerging Market Local Currency Index (EMLC) from Jan. 31, 2025.
Sensex Today | Stock Market LIVE Updates | Shares of online food delivery platform Zomato fell 4% to the day’s low at Rs 160.10 on BSE after 2.2% equity worth over Rs 3,000 crore changed hands in a block deal in which Ant Financial could be the likely seller.
Price as on 10:09:37 AM 10:09 AM, Click on company names for their live prices.
Stock Market View | Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
A significant recent development is the liquidity in the banking system moving from deficit to surplus. This is positive for banks, particularly those which are facing constraints in raising deposits to match credit growth. The impact on the market would be the outperformance of Bank Nifty over Nifty.Another trend which has started is the underperformance of the small cap index. This trend also is likely to continue since small cap valuations continue to be excessive. Nifty is likely to consolidate at around the present levels. Dips will be bought since institutional buying has been strong. Sentiments are a bit weak in the NBFC space due to RBI’s restrictive actions against some NBFCs.
Sensex Today | Stock Market LIVE Updates | Japan’s Sumitomo Wiring Systems, a promoter in Samvardhana Motherson International, is looking to sell around 6% stake in the company through block deals on Wednesday.
Price as on 09:23:47 AM 09:23 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | The Reserve Bank of India has barred JM Financial Products Ltd from doing any form of financing against shares and debentures.
Price as on 09:21:23 AM 09:21 AM, Click on company names for their live prices.
Rupee turns flat at 82.90 against US dollar in early trade.
Sensex Today | Stock Market LIVE Updates | Motherson Sumi, BHEL among most active stocks in morning trade
Price as on 09:20:06 AM 09:20 AM, Click on company names for their live prices.
Opening Bell: Sensex falls 200 pts, Nifty below 22,300; IIFL, JM Financial tank up to 20%
Sensex Today | Stock Market LIVE Updates: Pre-open session: Sensex down 100 points; Nifty below 22,300
Sensex Today | Stock Market LIVE Updates: JM Financial says strongly believe no material deficiencies in JM Financial Products’s loan sanctioning process
- JM Financial Products has not violated applicable rbi regulations
- JM Financial Products shall continue to service its existing customers as advised by the RBI
- There have been no governance issues whatsoever at JM Financial Products
- Practice of taking power of attorney prevalent across the industry, perfectly legal
- Will fully cooperate with RBI in their special audit initiative
In today’s trading landscape, the Nifty, showing a slight dip to 22410, retains a positive outlook buoyed by substantial buying from FIIs and DIIs, hinting at a continued bullish grip despite potential short-term hesitations. The technical analysis suggests a supportive intraday range between 22250-22500, with a bias leaning positively, backed by options data indicating a broader 21500-23000 trading range. Key corporate moves, including Tata Power Solar’s financing partnership and Tata Motors’ demerger, alongside strategic trading recommendations for Nifty and Bank Nifty, spotlight a market ripe for selective buying, with BANK OF BARODA emerging as a compelling pick amidst a cautiously optimistic market awaiting Federal Reserve cues.
– Prashanth Tapse, Senior VP (Research), Mehta Equities
Sensex Today | Stock Market LIVE Updates: China stocks lead Asia lower, gold drifts after record peak
Asian equities eased on Wednesday in cautious trading, with Chinese stocks slipping as the lack of big stimulus measures from Beijing disappointed some investors, while gold and bitcoin eased after hitting record highs.
Sensex Today | Stock Market LIVE Updates: Oil fell slightly as China growth worries clash with output cuts
Oil prices fell slightly on Wednesday as concerns about demand growth in China, the world’s biggest crude importer, clashed with signs of supply tightness amid output cuts by major producers.
Sensex Today | Stock Market LIVE Updates: Dollar steady ahead of Powell testimony, bitcoin takes breather
The U.S. dollar was largely steady on Wednesday, as traders avoided making large bets ahead of congressional testimony from Federal Reserve Chair Jerome Powell, as well as the European Central Bank rate decision and U.S. jobs data later this week.
Sensex Today | Stock Market LIVE Updates: GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded lower by 16 points, or 0.07 per cent, at 22,423.50, signaling that Dalal Street was headed for muted start on Wednesday.
Sensex Today | Stock Market LIVE Updates: Tech View: Nifty ends with Doji candle again
Nifty ended 49 points lower to once again form a Doji candle on the daily chart. The index is now in the process of retesting the breakout of 22300 it gave last week.
Sensex Today | Stock Market LIVE Updates: Rupee ends flat against US dollar
The rupee settled unchanged at 82.90 against the US dollar on Tuesday amid a strong greenback against major rivals overseas and a negative trend in equity markets.
Sensex Today | Stock Market LIVE Updates: Tokyo shares open lower
Tokyo shares opened lower Wednesday as global investors locked in profits after recent rallies. The benchmark Nikkei 225 index dropped 0.60 percent, or 242.18 points, to 39,855.45 in early trade, while the broader Topix index eased 0.35 percent, or 9.54 points, to 2,710.39.
Sensex Today | Stock Market LIVE Updates: Tech-heavy Nasdaq leads Wall Street lower as megacaps, chips slide
Wall Street three major indexes all retreated more than 1% on Tuesday, with weakness in megacap growth companies such as Apple Inc and the chip sector weighing most on the Nasdaq ahead of this week’s crop of economic data and remarks from Federal Reserve Chair Jerome Powell.
Sensex Today | Stock Market LIVE Updates: Sensex, Nifty on Tuesday
The 30-share BSE benchmark Sensex declined 195 points or 0.26% to settle at 73,677. The broader NSE Nifty dropped 49 points or 0.22% to end at 22,356.
