Sensex, Nifty LIVE Updates on March 5: Sensex and Nifty were trading lower in afternoon session amid weak global cues. While Sensex fell 528 points to 50,317, Nifty lost 179 points to 14,900. On Nifty, 40 stocks fell against 9 rising in noon session. IndusInd Bank , Wipro and UPL were the top losers falling up to 4.34%.
The Indian benchmark indices opened lower on Friday, tracking weak cues from Asian market. Sensex opened 329 points lower at 50,517 and Nifty fell 103 points lower at 14,977. The market breadth, indicating the overall strength of the market, was strong as 1240 shares advanced, while 970 shares declined and 108 remained unchanged.
Here are live updates for the market today
2: 00 pm: On Sensex, 24 stocks were trading in the red. Maruti, ONGC, and Kotak Bank were the top Sensex gainers.
1:30 pm: Sensex slips over 500 points, Nifty gives up 15k
While Sensex fell 528 points to 50,317, Nifty lost 179 points to 14,900. On Nifty, 40 stocks fell against 9 rising in noon session.
1:00 pm: Expert take
Gaurav Garg, Head of Research at CapitalVia Global Research said, "The market opened with a gap down at 14977.95 and reversed from the support zone of 14950-15000 and is currently trading in the same range after making a high of 15092.35. Markets were under the pressure due to a surge in bond yields overseas. On the global front, Asian markets were trading mostly in red after the US Federal Reserve Chair Jerome Powell repeated his pledge to keep credit flowing until Americans are back to work."
12: 30: pm : On Nifty, 26 stocks fell against 24 rising in noon session. IndusInd Bank , Wipro and UPL were the top losers falling up to 4.34%.
12:00 pm: Banking stocks were the top losers with BSE bankex plunging 400 points to 39,837. Bank Nifty too lost 439 points to 35,363.
11:30 am: Wipro share falls 4% after the firm inked a definitive agreement to acquire London-headquartered management and technology consultancy company Capco, which provides digital, consulting and technology services to financial institutions in the Americas, Europe and the Asia Pacific region. The share fell 4% to Rs 421.3 against previous close of Rs 438.85 on BSE.
11: 00 am: Sensex extends losses, down 354 points to 50,491, Nifty down 99 points to 14,981.
10: 30 am : Heranba Industries share lists at 43% premium to issue price
Heranba Industries share made a strong market debut today, listing at a premium of 43% to the issue price. Share of Heranba Industries opened 43.54% higher at Rs 900 on NSE against IPO issue price of Rs 627. Total 8.73 lakh shares changed hands on BSE . Market cap of the firm rose to Rs 3,378 crore.
9: 50 am: On Sensex, 15 components were trading in the red.
9: 45 am: Top Nifty losers are IndusInd Bank, ICICI Bank, SBI, Wipro and HDFC Bank falling up to 2.50%.
9: 40 am: Market cap of BSE listed firms stands at Rs 209.67 lakh crore.
9: 35 am:Expert comment
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "The 'bond bears vs equity bulls' game continues in the US market with similar reverberations in other developed and emerging markets. The highly valued Nasdaq appears to be in a short- phase of reversion to mean, having declined 10% from record highs. The US 10-year yield has again spiked to 1.575% giving further ammunition to bond bears. Back home, both FIIs & DIIs turned sellers yesterday impacting market sentiments. The steady rise in dollar index also is not good news for FII inflows. Inspite of all these the texture of the market remains 'buy on dips' since the 'growth & earnings recovery story' is in tact and ample liquidity is available waiting to be invested. The comments of the Fed chief Jerome Powel before the FOMC Meet will be keenly watched by the market. The outperformance of mid-small-caps is likely to continue"
9:30 am: Sensex trading 39 points lower at 50,820, Nifty down 8 points to 15,069.
9: 15 am: On Thursday, Sensex plunged 598 points to end below the key 51,000-level and Nifty managed to hold 15,080 after suffering losses through the day.
Intra-day, Sensex fell as much as 905 points before ending the session at 50,846, losing 598.57 points or 1.16 per cent. Nifty too closed with a loss of 164.85 points or 1.08 per cent at 15,080.
9: 12 am: Global markets
Asian shares fell after surging US bond yields renewed pressure on high-flying technology companies.
Japan's Nikkei 225 lost 0.8% to 28,692.08 while the Hang Seng in Hong Kong gave up 0.4% to 29,133.40. South Korea's Kospi shed 0.6% to 3,024.40 while the S&P ASX 200 sank 0.9% to 6,699.00.
On Thursday, the S&P 500 fell 1.3% to 3,768.47, its third straight loss.
The Dow Jones Industrial Average lost 1.1% to 30,924.14. The Nasdaq composite dropped 2.1%, to 12,723.47 in a pullback that knocked the tech-heavy index into the red for the year.