Share Market LIVE: Sensex, Nifty trade lower amid weak global cues; Nykaa tanks 4%

Good morning!

Benchmark equity indices BSE Sensex and NSE Nifty extended their fall for the second straight week after concerns about the Ukraine-Russia conflicts resurfaced. 

The 30-share Sensex declined 319.95 points, or 0.55 per cent, to 57,832.97 on February 18 against 58,152.92 on February 11. Likewise, the 50-share Nifty index lost 98.45 points, or 0.57 per cent, to 17,276.30 during the same period.

Here's a look at the latest updates of the market today!

11:25 am: Ex-NSE chief Ravi Narain questioned after Chitra Ramkrishna

The Central Bureau of Investigation (CBI), after grilling former MD and CEO of National Stock Exchange (NSE) Chitra Ramkrishna, questioned another former chief of the exchange, Ravi Narain, in connection with the co-location case. 

Sources told India Today the former CEO was questioned for several hours by federal investigators. The agency also denied reports that Narain is in London. 

A lookout circular has been issued against Chitra Ramkrishna, along with former Group Operating Officer Anand Subramaniam, and Ravi Narain. 

10:45 am: Nykaa shares hit all-time low

Of late, the shares of Nykaa (listed as FSN E-Commerce Ventures Limited) have been under tremendous selling pressure. The stock crashed 4 per cent to hit an all-time low of Rs 1337.45 on BSE. Market cap of the firm slipped below Rs 65,000 crore.

10:30 am: Gold slips from over 8-month high as Biden-Putin summit plans ease demand

Gold prices fell from a more than eight-month high hit earlier on Monday, as safe-haven demand eased after the U.S. president agreed to meet his Russian counterpart over the Ukraine crisis.

10:15 am: Equitas Small Finance Bank stock zooms over 9% in early trade

Shares of Equitas Small Finance Bank rose over 9% today after the lender raised Rs 550 crore from the government of Singapore, Singapore's central bank and a host of local mutual funds in the qualified institutional placement of equities.

The stock has gained 18.8% in one year but has fallen 4% since the beginning of this year. Total 2 lakh shares of the firm changed hands amounting to a turnover of Rs 1.13 crore on BSE. Market cap of the firm rose to Rs 6,593 crore on BSE.

9:16 am: Market opening

The benchmark indices opened lower amid weak global cues. Equity benchmark Sensex was trading 254 points lower at 57,578.28 and Nifty was down over 70 points to 17,204.70.

Wipro was the top loser on Sensex, followed by Bharti Airtel, Tech Mahindra, HDFC, L&T and UltraTech Cement.

Dr Reddy and NTPC were the top gainers.

9:00 am: Pre-market comment by Mohit Nigam, Head - PMS, Hem Securities 

Some geopolitical tensions faced by the world is pulling down the equity markets, world over. And investors shifting some of the portfolio to the safer heavens of bonds and gold. But constructive talks between the French president Emmanuel Macron and Russian President Vladimir Putin to strike a ceasefire in eastern Ukraine might act as a hope to cease the tensions and at the same time ease the crude prices which touched the highs of nearly $95.

On the stock specific fronts, today is the last day to buy shares to TCS to be entitled on the record date of 23rd February to tender shares at a buyback price of Rs 4,500. Future Retail has paid the $14 million as interest for the six months, that was due on January 24th. Rakesh Gangwal has resigned from the board of Interglobe aviation with immediate effect and communicated that the holding will be slowly diluted over the next 5 years.

With the monthly expiry week starting today, the markets seems to be a bit volatile and investors are advised to trade cautiously. Like all dips, this might also be a good opportunity to invest for the long-term gains. On the technical front the Nifty50 seems to take support at 17,100 while resistance at 17,400. For Bank Nifty support stands at 37,200 and resistance at 38,000.

8:40 am: Global Updates

Wall Street ended lower on Friday after escalating tensions in Ukraine and US warnings of a potential Russian invasion prompted investors to dump risky assets in the run-up to a long weekend.

The Dow Jones Industrial Average fell 0.68 percent to end at 34,079.18 points, while the S&P 500 lost 0.72 percent to 4,348.87. The Nasdaq Composite dropped 1.23 percent to 13,548.07.

Asian share markets pared sharp early losses on Monday as a glimmer of hope emerged for a diplomatic solution to the Russian-Ukraine standoff, though there remained plenty of devil in the detail.

8:35 am: FII and DII action

Foreign institutional investors (FIIs) sold shares worth Rs 2,529.96 crore on February 18, and domestic institutional investors (DIIs) bought shares worth Rs 1,929.08 crore, as per provisional data available on NSE.

8:30 am: SGX Nifty

The Indian equity market is likely to open on a negative note as SGX Nifty was down 83 points at 17,244.20.

The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Friday

Sensex and Nifty closed lower in volatile trade for the third straight session amid a selloff in energy, pharma and IT shares. After swinging about 700 points between gains and losses during the session, Sensex finally ended 59 points lower at 57,832.

Nifty dropped 28 points to 17,276. Ultratech Cement, M&M and Infosys were the top losers on Sensex, falling up to 1.88%. Of the 30 Sensex constituents, 17 ended in the red.

HDFC, L&T and Axis Bank were the top Sensex gainers, rising up to 1.25%.

BSE mid-cap and small-cap indices fell 192 points and 224 points, respectively.