In overnight trade on Wall Street, major US stock indices declined amid a rout in tech stocks and Federal Reserve Chair Jerome Powell’s remarks on rising bond yields. Image: ReutersShare Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were likely to open in negative territory for the second straight day on Friday, as suggested by trends on SGX Nifty. Nifty futures were trading 157.50 points or 1.05 per cent down at 14,913.50 on Singaporean Exchange. Bucking up the negative global trend on the back of rising US bond yields, Sensex and Nifty closed one per cent down in the previous session. Asian peers were trading in the deep sea of red primarily due to the sell-off in technology stocks and surge in bond yields overseas. Stocks in China declined in morning trade, with the Shanghai composite shedding 1.03 per cent. Japan’s Nikkei 225 slipped 1.76 per cent while the Topix index shed 0.96 per cent. South Korea’s Kospi fell 1.48 per cent. In overnight trade on Wall Street, major US stock indices declined amid a rout in tech stocks and Federal Reserve Chair Jerome Powell’s remarks on rising bond yields. The 10-year Treasury yield jumped back above 1.5 per cent following Powell’s comments. The tech-heavy Nasdaq Composite dropped 2.1 per cent. While the S&P 500 and the Dow Jones Industrial both fell more than a per cent.
Agrichemicals manufacturer Heranba Industries is scheduled to list on stock exchanges on March 5, 2021. The Rs 625-crore IPO was subscribed 83.29 times during the three-day bidding process. The issue was sold in the range of Rs 626-627 per share. In the grey market on Thursday, Heranba Industries shares were seen quoting a premium of Rs 230 over the IPO price.
Highlights
Gujarat State Petroleum (GUJS) has a 54% stake in Gujarat Gas (GUJGA), which amounts to a market capitalization of Rs 197b, much higher than GUJS’ m-cap at Rs 156b. Major concerns for the above anomaly have been expected decline in tariffs of GUJS due to over-utilization of the High Pressure grid, and concerns over the usage of cash.
Motilal Oswal
Tughlakabad (TKD) seeing limited volume loss, despite the 10-12% realisation hike effective 6 Dec 2020. Our interactions with competitors suggest no material volume inflow from TKD, in-line with management’s 3Q commentary. TKD hike implies 5% YoY realisation rise in FY22E vs our earlier 3% expectation. We raise our FY22E-25E realisation CAGR to 4% vs 2% and EPS by 18-19%. Privatisation and lower LLF are additional upside. Buy.
Jefferies
Nifty futures were trading 161 points or 1.07 per cent down at 14,910 on Singaporean Exchange, indicating a negative opening for BSE Sensex and Nifty 50 on Friday. In the previous session, headline indices ended over one per cent lower on the back of rising US bond yields. In the absence of any fresh domestic trigger, markets will continue to take cues from global peers for further direction.
Read full story
The Rs 597-crore initial public offering of MTAR Technologies was subscribed 10.27 times on Thursday, the second day of the bidding process, on huge support from retail investors. The IPO has received bids for 7.45 crore equity shares against an offer size of 72.6 lakh equity stocks, translating into a subscription of 10.27 times, data available on the exchanges showed.
Read full story
To facilitate development of the bullion market in India, International Financial Services Centres Authority (IFSCA) on Thursday issued enabling framework for banking units in IFSC. The enabling framework will help generate interest in trading and hedging activities, and serve as a precursor to International Bullion Exchange (IBE), IFSCA said in a statement.
Read full story
Domestic equity markets moved lower on Thursday as global markets slipped on rising bond yields. Sensex now sits just below 51,000 while the nifty 50 is holding just above 15,000. On Friday morning, SGX Nifty was again deep down in red, falling 180 points, during the early hours of trade, hinting at another day of negative moves on Dalal Street. Equity markets in the United States closed deep in red and Asian peers were seen mirroring the move on Friday morning.
Read full story
In overnight trade on Wall Street, major US stock indices declined amid a rout in tech stocks and Federal Reserve Chair Jerome Powell’s remarks on rising bond yields. The tech-heavy Nasdaq Composite dropped 2.1 per cent. While the S&P 500 and the Dow Jones Industrial both fell more than a per cent.
Asian peers were trading in the deep sea of red primarily due to the sell-off in technology stocks and surge in bond yields overseas. Stocks in China declined in morning trade, with the Shanghai composite shedding 1.03 per cent. Japan’s Nikkei 225 slipped 1.76 per cent while the Topix index shed 0.96 per cent. South Korea’s Kospi fell 1.48 per cent.
Nifty futures were trading 157.50 points or 1.05 per cent down at 14,913.50 on Singaporean Exchange.