India VIX closed above 20 levels on Tuesday.
(Image: REUTERS)Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic benchmark indices ended the day with gains. S&P BSE Sensex closed above 50,000 while Nifty 50 zoomed to breach 14,800 levels on closing. Ultratech Cement, HDFC Bank, IndusInd Bank, and ICICI Bank were the top gainers jumping over 2% each. ONGC, ITC and Power Grid were the top drags. India VIX jumped more than 3% intra-day but trimmed its gains to close above 20 levels. Broader markets outperformed benchmarks. Only Nifty FMCG, Media, and Metal were the sectoral indices to close in the red while others gained. Bank Nifty closed 1.8% higher.
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Highlights
Domestic equity markets closed in the positive territory on Tuesday. S&P BSE Sensex gained 280 points to close at 50,051 while Nifty 50 added 78 points to reach 14,814. Among the top gainers on Sensex were Ultratech Cement, HDFC Bank, IndusInd Bank, and ICICI Bank while on the other side of the table ONGC, Powergrid, and ITC were the top drags. Broader markets outperformed the benchmark indices while the volatility index inched higher and closed above 20 levels once again. Bank Nifty ended 1.8% higher. Nifty FMCG, Metal, and Media were the only sectoral indices to end in red.
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Sensex and Nifty ended in the green on Tuesday. Sensex breached 50,000 while Nifty topped 14,800 levels. Broader markets outperformed benchmarks.
Elon Musk’s Tesla has had a strong run on Wall Street so far amid the pandemic. In the last one year, the stock price has jumped 671% to now trade at $670 per share. But, in the post-pandemic world, it could surge further and going by Cathie Wood’s ARK Invest, the stock could skyrocket another 347% and reach $3,000 apiece in 2025. Tesla’s share price is currently in the negative, going by year-to-date returns, falling 8% since the beginning of the year, underperforming the NASDAQ Composite index.
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"Supreme Court decision is a welcome one. Complete waiver of interest during the moratorium would have badly hurt the balance sheet of lenders and today's SC decision was right in denying that. The lenders can now recognise their NPAs and start taking appropriate corrective action for recoveries," said Sanjay Tibrewala, CEO, Phoenix ARC.
The government will now allow all citizens above the age of 45 to get vaccinated from April 1. Earlier only those 60 years of age were allowed and those with serious medical conditions were allowed.
Sensex was above 50,200 with Titan Company, Axis Bank, and Ultratech Cement as the top index gainers. Nifty was above 14,850.
Sensex was above 50,100 on Tuesday with less than an hour left in today's trade. Nifty breached 14,850.
Suryoday Small Finance Bank will finalise the basis of allotment of the IPO on Wednesday, March 24, 2021. The Rs 582-crore public issue was subscribed 2.37 times. The price range for the offer was Rs 303-305 per share. According to the Suryoday Small Finance Bank’s prospectus, the initiation of refunds or unblocking of funds from ASBA accounts will take place on March 24, and the credit of equity shares to the depository accounts of allottees will happen on March 25.
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V-Marc India Ltd. issue will open for subscription on 25th March 2021. Haridwar-based wires and cables manufacturer V-Marc India will be listed on NSE Emerge platform. The issue size will be of Rs 23.40 crore. The price band has been fixed at Rs 37-39 per equity. The issue will close on March 31, 2021.
Broader markets were outperforming benchmark indices on Tuesday. While Nifty was up 0.28%, Nifty Junion jumped 1%. Midcap and Smallcap stocks were up more than the benchmark equity indices.
India’s share markets are in for four IPOs’ listings this week — Anupam Rasayan, Craftsman Automation, Laxmi Organic and Kalyan Jewellers. The initial public offerings of these four companies closed last week. On Tuesday, Anupam Rasayan India, Craftsman Automation, Laxmi Organic Industries, were trading with Rs 70, Rs 20 and Rs 70 premiums in the grey market, respectively. Kalyan Jewellers India shares were trading at a discount in the grey market.
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Barbeque Nation’s much-awaited IPO could help its rival Domino’s parent firm Jubilant FoodWorks double its money in nearly two months time. Jubilant FoodWorks, the owner of Domino’s Pizza in India, had invested Rs 92 crore in Barbeque Nation, picking up shares for Rs 252 apiece in January this year. Now, with the IPO price band fixed at Rs 498-500 apiece, Jubilant’s investment could multiply. Barbeque Nation’s Rs 453-crore public issue opens for subscription tomorrow.
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"The financial year 2020-21 was a turnaround year for the real estate sector. A year which saw activities largely affected for the first few months. Then, the government intervention with unlocking and series of reform measures boosted the sentiment for the better. A combination of low-interest rates and reduction in stamp duty resulted in monthly sales of nearly 10,000 units for Mumbai consistently since September," said Krish Raveshia, CEO at Azlo Realty.
The Supreme Court of India today ruled in favour of waiving compound interest, ie, interest on interest during the six-month moratorium announced by the Reserve Bank of India last year. The apex court said that banks will not charge compound interest or penal interest on any amount during the moratorium period for all borrowers, PTI reported. Along with this, the court has also rejected pleas by various trade associations to extend the loan moratorium that ended in August last year. Banking stocks on Dalal Street surged higher after the Supreme Court’s ruling and Bank Nifty jumped 1.4%.
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"The Supreme Court judgment is very welcome. The court has limited its scope to judicial review and not opined on the merits of the policy. Any other outcome would have created a potential moral hazard and also penalized conscientious borrowers. This creates the right precedent as well," said Mahesh Misra, CEO, IMGC (India Mortgage Guarantee Corporation).
Bank Nifty was up 1.4% on Tuesday after the Supreme Court refused to interfere with government and RBI's loan moratorium policy. The apex court said that waiver of complete interest is not possible as it affects depositors, news agency ANI reported.
Sensex and Nifty were trading with gains on Tuesday. Sensex zoomed past 50,100 while Nifty breached the 14,800 levels as the benchmarks jumped from their lows.
Kalyan Jewellers India’s Rs 1,175-crore IPO, which was subscribed 2.61 times, will finalise the basis of allotment on Tuesday, March 23, 2021. Once the basis of allotment of funds is done, funds will be unblocked from the ASBA account on March 24 and equity shares will be credited to the demat accounts of allottees on March 25, 2021. The company is likely to make its stock market debut on March 26, according to RHP.
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Gold prices were trading weak on Tuesday amid weak global cues. Despite weakness in the US dollar and fall in US 10-year yields from the highs, gold still managed to trade lower indicating that the reason for the decline is portfolio balancing, said an analyst. Also, concerns around fresh COVID-19 cases across Europe limited losses in international spot prices. On MCX, gold April futures were trading Rs 107 or 0.24 per cent down at Rs 44,798 per 10 grams as against the previous close of Rs 44,905.
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"Market trend remains uncertain since there are both positive & negative factors impacting stock prices. For now, it appears that the crucial US 10-year bond yield has stabilised. This will remove the fear of large scale bond selling threatening the equity bulls. At the same time, we are witnessing FII selling (Rs 787 crores yesterday )in many bluechip large-caps, impacting sentiments. This has also led to mid-cap outperformance. Fears of the second wave of the pandemic impacting GDP growth in FY 22 also might be leading to selling in the economy- facing stocks like banks. Investors may consider buying into such large-caps on declines. A major macro positive is a sharp rise in tax collections which will put government finances in better shape," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel remained unchanged on March 23. The price of petrol and diesel across major cities has now remained the same for three consecutive weeks. Nation Capital Delhi was quoting a petrol price of Rs 91.17 per litre while Diesel in the city was priced at Rs 81.47 per litre. Fuel prices were highest in Mumbai a Rs 97.57 per litre for Petrol. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.
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HCL Technologies, IndusInd Bank, and Axis Bank were the top gainers on Sensex. Shares of HCL Tech zoomed 1.5% on the opening bell.
Sensex, Nifty opened with gains on Tuesday. Nifty was nearing 14,800 while Sensex was inching closer to 50,000 mark.
Benchmark indices gained during the pre-open session on Tuesday. Sensex closed the pre-open at 49,873 points while Nifty was just below 14,800.
Sensex was above 50,000 mark during the pre-open session while Nifty jumped beyond 14,800 as benchmark indices gained.
With the Indian two-wheeler industry gradually finding its groove back, digital seems to be playing a greater role than ever in providing the much needed boost. Royal Enfield – a unit of Eicher Motors Ltd, claims that digital currently accounts for nearly 50% of the inquiries, when compared with 10-15% pre-Covid, and the conversion from digital inquiries have also doubled, Shubhranshu Singh, global head – marketing, Royal Enfield, told BrandWagon Online. “Accessibility has been a mantra for us for the last many years. We have initiated things like service on wheels for doorstep service. From a brand experience point of view, we have launched the Royal Enfield app, which has already got close to seven lakh members,” he added. The company claims that for its recently launched motorcycle, Meteor, over 90% of the bookings have come in through the ‘Make-It-Yours’ (MIY) platform — a tool which allows users to customise, configure and set up a new Royal Enfield bike online, and even complete the booking directly over the Internet.
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Headline indices BSE Sensex and Nifty 50 were eyeing a muted opening on Tuesday, as suggested by trends on SGX Nifty. Market participants will closely watch stock-specific developments, oil prices, ongoing vaccination drive, rising Coronavirus cases, movement in rupee against US dollar and other global cues.
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Nifty futures on Singapore Exchanges slipped into the negative territory on Tuesday morning. SGX Nifty was up 65 points earlier in the day but was now down 14 points.
Domestic equity market benchmarks BSE Sensex and Nifty were set to open in the positive territory on Tuesday, after ending flat in the previous session. The Sensex ended at 49,771.29, down 86.95 points, or 0.17 per cent. While the Nifty declined by 7.6 points (0.05 per cent) to close at 14,736.4.
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"The Nifty bouncing back from a gap support 2nd Feb and a false downside violation of trend line support as per daily timeframe chart and a false downside breakout of weekly 10 period EMA at 14400-14600 levels of last week could signal a possibility of an upside bounce in the market. A sustainable move above the immediate resistance of 14800 levels is expected to pull Nifty towards the next hurdle of around 15050-15200 levels in the near term. Immediate support is placed at 14600," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Kishore Biyani and his company Future Retail on Monday got relief from the division bench of the Delhi High Court which stayed the last week’s order of its single-judge bench holding them guilty for going ahead with the Rs 24,713-crore deal with Reliance Retail. This is the second time that the division bench has stayed the order of its single judge with regard to the Future-Amazon dispute.
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The Supreme Court will on Tuesday pronounce verdict on a batch of pleas by various trade associations, including from real estate and power sectors, seeking an extension of loan moratorium and other reliefs in view of the COVID-19 pandemic.
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