KEY HIGHLIGHTS
US Futures Rise
At 3:50 p.m., futures contract of Dow Jones was up 77% to 43,966.00, that of S&P 500 was also 16.50% up at 5,979.75, and Nasdaq 100 futures contract was 83.5% up at 21,003.00.
Rupee Vs Dollar Today: Rupee Ends Stronger Against Dollar
Rupee strengthened by 15 paise to close at 87.36 against the US Dollar. It closed at 87.51 a dollar on Friday.
Source: Bloomberg
Stock Market At Closing Sensex, Nifty End Topsy-Turvy-Trade With Minor Losses
Nifty and Sensex end lower on Monday. Sensex ends 112.16 points lower. Intraday, both Nifty and Sensex had fallen nearly 2%.
Nifty ends 0.02% or 5,40 points down at 22119.3.
Sensex ends 0.15% or 112.16 points lower at 73,085.9.
Broader indices also closed lower. Nifty Midcap150 ended in green snapping 5 sessions of losses. Nifty Midcap 100 ended 0.16% lower.
Nifty Smallcap 250 closed 0.64% lower. Nifty Smallcap250 ended in red for 6 sessions of losses.
Six out of the 12 sectors ended in green, with Nifty Realty, Metal and IT leading gains. Nifty Media, Oil & Gas and Bank dragged the most.
BEL Ltd., Grasim Ltd., Eicher Ltd., JSW Steel Ltd., and BPCL Ltd., emerged as the top gainers for the day.
On the other hand, Bajaj Auto Ltd., Coal India and RIL Ltd., and HDFC Bank were the worst performers of the Nifty 50 index.
Stock Market Live: IRCTC Shares Rise After Navratna Status
The Government has approved the upgradation of Indian Railway Catering and Tourism Corporation to Navratna CPSE, making it the 25th Navratna among CPSEs. IRCTC is a Ministry of Railways CPSE with an annual turnover of Rs 4,270.18 crore, profit after tax of Rs 1,111.26 crore. The net worth of Rs 3,229.97 crore for financial year 2023-24.
The Government has also approved the upgradation of Indian Railway Finance Corporation to Navratna CPSE, making it the 26th Navratna among CPSEs. IRFC is a Ministry of Railways CPSE with an annual turnover of Rs 26,644 crore, profit after tax of Rs 6,412 crore and a net worth of Rs 49,178 crore for financial year 2023-24.
The shares of IRCTC were trading 1.02% higher at Rs 677.3 apiece against a 0.10% decline in the Nifty 50.
Also Read: IRCTC, IRFC Receive 'Navratna' Status
Stock Market Live: What Jefferies Says On Siemens
Maintain Buy, target price of Rs 7,219 (+56% upside).
Co good play on power transmission which has the highest capex growth.
Power capex to rise 2.5x to USD300 bn+ over FY24-30E vs FY17-23.
Expect fixed costs as a % of sales declining to 10-11%.
Operating leverage to boost EBITDA margin to 16.5-17% vs 13.6% in FY24.
Believes demerger of Energy division to unlock further value.
Energy demerger could potentially add 8-21% to CMP.
Stock Market Live: Orient Technologies, Exicom, Dr Agarwal's Healthcare Shares Decline As Lock-In Period Ends
Shares of Orient Technologies Ltd. and Exicom Tele-Systems Ltd. hit the lower circuit on Monday, after their respective shareholder lock-in periods came to an end. Similarly, companies like Dr. Agarwal's Healthcare Ltd., Ecos (India) Mobility Ltd. and Vishnu Prakash R Punglia Ltd. also witnessed an over 5% drop in their stock.
Read full story here.
HUDCO To Consider Second Interim Dividend
HUDCO to consider second interim dividend for financial year 2025 on Mar. 10.
The shares of the company rose as much as 1.85% during trade so far on Monday.
Jio Financial Share Price Update: Large Trade In Stock
Over 1 million shares of Jio Finacial were traded via a block deal on Monday. The share of the company fell as much as 4.32% to Rs 198.6 apiece.
Stock Market Live: Promoters’ Exit Through OFS Under Tax Scrutiny
I-T Probes promoters, anchor investors OFS transactions ahead of public listing
Total 216 OFS deals under examination, 86 in FY’24 alone
Investigating OFS share sales between FY’21–FY’24 and subsequent capital gains
Suspect inflated acquisition costs to reduce capital gains tax
CBDT roll out special drive to probe IPO/OFS share sales nationwide
Leveraging Data from NSE/BSE in the probe under Section 55(2)(ac) of I-T Act
Notices sent to investors/promoters for discrepancies in revised returns
NDTV profit reviews CBDT Feb 3 letter & Cos Went for OFS
CBDT circulates data with tax sleuths for detailed examination
Those OFS transaction under radar includes ---24 companies went for OFS in FY’21, FY’22 (56), FY23 ( 50) and FY’24 ( 86)
Source: Tax sources
Read full story here.
Naukri Jobspeak: IT Sector Sees Sharp Uptick From January
Info Edge: Feb Naukri Jobspeak
Jobspeak Index at multi-month highs, up 4% year-on-year and up 13% month on month.
Jobspeak Index at 2,890 versus 2,780 year-on-year and versus 2,550 month on month.
10 of 16 sectors register growth while 5 have seen a decline.
IT sector sees a sharp uptick from Jan level.
Sensex, Nifty Today: Stock Market Watch 1 PM
Indian equities was trading flat with Nifty 50 trading nearly 0.01% higher at 22,127.5 and Sensex was trading 53.61 points lower at 73,144.4.
Intraday, Nifty fell over 0.54% and Sensex fell as much as 0.56%.
Broader indices were trading lower. Nifty Midcap fell 1.33%; Nifty Smallcap was trading 0.65% lower.
Most sectoral indices fell, led by Nifty Oil & Gas. While Nifty IT led gains followed by Nifty Metal.
The Nifty 50 was led by Infosys, Bharti Airtel, ICICI Bank, L&T and Bharat Electronics along with others. RIL, HDFC Bank, Axis Bank and Coal India continued to drag the index.
Exclusive: Ola Electrics Layoffs And Lack Of Sales Continue
Ola's Layoffs
Effects second round of layoffs in less than six months
1,400-1,500 employees affected by latest round of job cuts
About half of those laid off include contractual workers
Layoffs a fallout of expansion that hasn’t translated into sales
Some of Ola’s 4,000 stores are not selling even one scooter per month
Roadster X series
The Roadster X series hasn’t yet gone for homologation,
Deliveries were set to commence from mid-March
The electric motorcycle is thermal management, motor and battery issue
Investor complains it’s seeing a 50-55% writedown of its investment in Ola Electric
The said investor had invested in the company at $5.4 billion
Read full story here.
Stock Market Live: Bonus Share Approval
Jindal Worldwide board approves allotment of bonus shares in the ratio of 4:1, according to an exchange filing.
Stock Market Live: EIH Shares Trade Lower
Oberoi Group announced that they will add two new resorts in Rishikesh with Ladhani Group. The shares of EIH fell as much as 2.76% in trade. The share price fell to Rs 310.4 on Monday.
Almost Looks Like An Annual Sale, Says Samit Vartak
The sell of is cyclical and almost looks like an annual sale. Even like a big sale that happens every three years, according to Samit Vartak, founding partner and chief investment officer of SageOne Investment Managers.
The last correction in December 2021, continued till probably half of the year. Three years down the line, there was a peak in September.
Now we are already five-six months into this, according to Vartak. Generally, the duration of correction is six to nine months, the faster it corrects the shorter is the duration, he added.
Stock Market Live: Coal India Share Price
Coal India Ltd. saw its share price fell over 4.56% on Friday, after it announced it waives off coverage charges for non-power consumers.
It had earlier announced an additional charge of Rs 300 per tonne across all mines of its wholly owned subsidiary, Northern Coalfields Ltd., starting May 1. Brokerages including Morgan Stanley and JPMorgan have a bullish outlook on the stock.
Coal India share price fell to Rs 353.3, trading 4.33% lower on Monday.
Stock Market Live: Small Caps Hit 52-Week Low
Nifty Small Cap 250 hit 52-week low. As of 11:45 a.m. on Monday, the index was 2.67% down or trading 366.2 points lower.
The small caps had fallen around 3% on Friday and the market cap loss of the index since life high is recorded at over Rs 12 lakh crore.
Stock Market Live:Stock Market Live: L&T Share Price Rise After Order Win
The shares of L&T rose after the company got an order in the range of Rs 2,500 to Rs 5,000 crore for Power Transmission & Distribution.
The shares of the company rose as much as 2% to Rs 3,227. Trading higher, the share price of L&T is at Rs 3,170 as of 11:37 a.m.
Stock Market Live: Ola Electric Shares Slip
Ola Electric said to cut over thousand jobs to stem losses, according to Bloomberg. The Ola Electric layoffs are set to include procurement, customer relations and sales staff.
The shares of Ola Electric fell as much as 4.89% to Rs 54.05. The stock is currently trading 4.56% lower at Rs 54.2 against a 0.45% decline in the Nifty 50 as of 11:25 a.m.
Stock Market Live: RIL Share Price Falls Over 3%
RIL has dragged the benchmark by 544 Points, accounting for 13% of total point fall. The shares of the company were trading 3.13% lower at Rs 1,162.5 apiece.
Stock Market Live: BSE Shares Fall Nearly 4%
The shares of BSE has taken a hit during trade on Monday following the regulator's tweak in the derivates segment.
Goldman Sachs maintained its 'neutral' rating but slashed the target price to Rs 4,880 per share from Rs 5,650 apiece. The shares fell as much as 5.14% to Rs 4,395.7 a piece.
Stock Market Live: Indian Market Performance Since Life High
The Nifty Has Lost Around 4200 Points Since Sept 27, 2024
RIL Has Dragged The Benchmark By 544 Points; 13% Of Total Point Fall
ITC Has Dragged The Benchmark By 258 Points; 6% Of Total Point Fall
TCS Has Dragged The Benchmark By 184 Points; 4% Of Total Point Fall
Market Cap Loss Since Life High
Large Caps: Almost Rs 60 Lakh Crore
Mid Caps: Over Rs 19 Lakh Crore
Small Caps: Over Rs 12 Lakh Crore
Stocks That Lost The Most Value Since Nifty Highs
Large Caps:
RIL: Around Rs 4.88 Lakh Crore
TCS: Around Rs 2.92 Lakh Crore
Mid Caps:
Jai Balaji: Around Rs 88,600 Crore
Suzlon Energy: Around Rs 45,200 Crore
Small Caps:
Motisons: Around Rs 28,700 Crore
NAVA: Around Rs 23,000 Crore
Stock Market Live: Angel One Shares Fall Nearly 7%
The shares of Angel One Ltd., fell as much as 7.80% to Rs 2,000 apiece on Monday.
Stock Market Live: Nifty, Sensex Extend Decline
Nifty 50, Sensex hit intraday low of over 0.5%
Nifty Midcap 150 falls as much as 1.9%
Nifty Smallcap 250 falls as much as 2.7%
Nifty Indices Hit 52 Week Lows Today: Nifty Realty, Nifty PSU Bank, Nifty Oil & Gas, Nifty Energy, Nifty FMCG, Nifty Media
Total market cap loss of around Rs 3.6 Lakh Crore
Large Caps Lose Over Rs 1.08 Lakh Crore In Value
Mid Caps Lose Over Rs 99,000 Crore In Value
Small Caps Lose Over Rs 69,000 Crore In Value
Stock Market Live: IGM Hits Lower Circuit Post Earnings
International Gemological Institute posted third quarter results, recording an its revenue from operations at Rs 265 crore against Rs 250 crore year-on-year. The revenue saw an uptick of 6% both year-on-year and quarter on quarter.
The revenue growth and profit after tax growth of the company is lower compared to other jewellery companies, as they record growth in double digits. The trade receivables of the company is seeing an increasing trend.
Further, the net cash flows of the company turned negative. The studded mix for jewellery companies are also on a downtrend.
Stock Market Live: Cables And Wires Stocks Decline
Ultratech, a dominant player in the cement sector, has announced plans to enter the cables and wires market. While its initial focus will be on domestic wires, the company’s vast distribution network and strong contractor connections make it a formidable competitor according to brokerages.
Ultratech's entry could alter the competitive landscape, as its reach and resources could challenge existing players like Havells, Polycab, and V-Guard. The market is likely to experience increased competition, particularly beyond 2027, and this could erode the profitability of established players in the sector.
Stock Market Live: Paytm Share Price Today
The shares of Paytm fell as much as 4.39% to Rs 683.55 during trade on Monday after the company received a show cause notice under FEMA.
This was in regard to acquisitions of Little Internet Private Limited and Nearbuy India Private Limited.
The show cause notice was under FEMA alleging contraventions of Rs 611.17 crore investment transactions.
Stock Market Live: Nifty IT Snaps Seven Day Losing Streak
Nifty IT snaps seven day losing streak after it recorded the worst day in nearly two years on Friday. Trading in green, Wipro, Infosys, HCL Tech, Tech Mahindra and TCS leads gains.
While Persistent Systems, Coforge and LTIM drag the index.
Stock Market Live: Nifty Auto Rises After Posting Worst Performance In 6 Months
Nifty Auto rises after it recorded its worst performance in 6 months. The gains are led by M&M, Eicher and TVS Motor. This is on the back of monthly sales data that was announced over the weekend.
Exide, Tata Motors and Bajaj Auto are weighing on the index.
Varun Beverages Share Price Update: Large Trade In Stock
Over 2.25 million shares of Varun Beverages were traded via a block deal on Monday. The share of the company fell as much as 2.81% to Rs 423.80 apiece.
Bharti Airtel Share Price Update: Large Trade In Stock
Over 1 million shares of Bharti Airtel were traded via a block deal on Monday. The share of the company rose as much as 1.32% to Rs 1,576.4 apiece.
Canara Bank Share Price Update: Large Trade In Stock
Over 2.74 million shares of Canara Bank were traded via a block deal on Friday. The share of Canara Bank fell as much as 2.27% to Rs 79.2 apiece.
In another block deal, Canara Bank also traded 4.4 million shares on Monday.
Stock Market Live: Polycab Share Price Today
It pared losses to trade 0.47% higher at Rs 4,714.05 apiece, as of 9:41 a.m. This compares to a 0.25% advance in the NSE Nifty 50 Index.
Stock Market Live: Most Sectors In Green
On NSE, 10 out of the 12 sectors were in the green. Nifty Auto was the best performing sector during market open after it saw the worst day in six months in the last session.
While Nifty FMCG was the worst performing sector, the index of Friday, posted its longest losing streak in 18 years.
Nifty Pharma extends its fall for the fourth day in a row. Nifty IT snaps seven day losing streak after it recorded the worst day in nearly two years on Friday.
Nifty Realty snaps its longest losing streak since October 2024.
Stock Market Live: Infosys, M&M, HDFC Bank Lead Gains
Infosys, Mahindra & Mahindra, HDFC Bank, ICICI Bank and UltraTech added to the Nifty 50 index.
While Bajaj Finance, RIL, NTPC, Bajaj Finserv and IndusInd Bank along with others weighed on the Nifty 50 index.
Broader markets were trading lower, with the NSE Midcap indices trading 0.22% lower and NSE Smallcap indices was trading 0.42% lower.
Stock Market Live: Nifty, Sensex Open Higher
The NSE Nifty 50 and BSE Sensex opened higher on Monday, snapping its eight day losing streak.
The Nifty 50 was trading 0.55% up at 22,246.05 and the Sensex was up 416.8 points at 73,614.9.
"This suggests a cautious market sentiment, primarily influenced by global cues and the absence of strong domestic triggers," said Hardik Matalia, Derivative Analyst, Choice Broking.
Stock Market Live Update: Nifty, Sensex Trade Higher Pre-Open
At pre-open, the NSE Nifty 50 was trading 69.85 points or 0.32% higher at 22194.55. The BSE Sensex was 0.32% or 229.5 higher at 73429.47.
Rupee Vs Dollar Today: Indian Currency Strengthens To 87.34
Rupee strengthened by 17 paise to open at 87.34 against the US Dollar. It closed at 87.51 a dollar on Friday.
Source: Bloomberg
Nifty Today: What F&O Cues Indicate
Nifty March futures down by 1.81% at a premium of 155.35 points.
Nifty March futures open interest up by 6.86%.
Nifty Options March 06 Expiry: Maximum Call open interest at 22500 and Maximum Put open interest at 20800
Securities in ban period: Nil
Dollar Check
The US Dollar index is down 0.37% at 107.21.
Euro was down 0.15% at 0.9597.
Pound was up 0.17%% at 1.2606.
Yen was down 0.25% at 150.35.
Stock Market News Live: Global Check
Stocks in the Asia-Pacific region opened higher on Monday, shrugging off concerns about tariffs on Canada, Mexico and China, while European leaders pledged support for Ukraine.
Japan's Nikkei rose 0.71%, or 276 points to 37,423, while Australia's S&P ASX 200 was up 0.17% at 8,186 as of 6:28 a.m. Future contracts in China and Hong Kong hinted at a negative start.
Stocks in China will face a renewed test as top officials will meet to discuss economic priorities, with hopes running high for further stimulus. The yuan has gained by 0.6% this year, while a gauge of the nation’s equities has jumped more than 12%, according to Bloomberg.
Stocks on Wall Street ended the volatile session higher while treasuries extended February’s rally. The S&P 500 rose 1.59%, while the Nasdaq 100 advanced 1.63%. The Dow Jones Industrial Average rose by 1.39% on Friday.
Gift Nifty: Indicates A Positive Start
The GIFT Nifty was trading higher on Monday. The futures contract based on the benchmark Nifty 50 rose 0.45% at 22,368 as of 7:40 a.m. indicating a positive start for the Indian markets.
Benchmark indices ended Friday's session lower, with the NSE Nifty 50 ended 420.35 points, or 1.86%, lower at 22,124.70, while the BSE Sensex closed 1,414.33 points, or 1.9%, down at 73,198.10. During the day, the Nifty fell as much as 1.95% to 22,104.85, while the Sensex dropped 1.97% to 73,141.27.
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