Share Market LIVE: Sensex reclaims 56K, Nifty above 16,700; Tata Steel jumps 6%

Good afternoon!

On Thursday, the equity benchmark Sensex crashed over 2,700 points to hit an intraday low of 54,383.20 after Russian forces attacked Ukraine. Likewise, Nifty also plunged over 800 points to end at 16,247.95.

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

12:32 pm: Sensex reclaims 56K

 Sensex zooms 1,477 points to 56,007 and Nifty climbs 453 pts to 16,701.

12:15 pm: Market check

Sensex was trading over 1300 points higher at 55,890.48 and Nifty also zoomed over 400 points to 16,657.

Tata Steel and IndusInd Bank were the top losers on Sensex.

Nestle India was the only loser on Sensex.

11:30 am: Bharat Forge stock gains 4% as it readies to buy JS Auto

Shares of auto component major Bharat Forge gained 4 per cent today after the firm said it would acquire JS Autocast Foundry India. Bharat Forge shares hit an intraday high of Rs 694.3, rising 3.94 per cent on BSE. Market cap of the firm rose to Rs 31,549 crore on BSE.

Total 0.45 lakh shares of the firm changed hands amounting to a turnover of Rs 3.10 crore on BSE. The stock hit a 52-week high of Rs 848 on November 10, 2021, and a 52-week low of Rs 556 on April 19, 2021.

11:00 am: Coal India stock rises 4% on plan to offer closed mines to private sector

Shares of state-owned Coal India rose 4 per cent in early trade today after the coal ministry said it was considering offering more than 100 closed, discontinued mines to the private sector on a revenue-sharing basis in due course of time.

The move will add to the income of the coal sector behemoth and fulfil the ever-growing demand for fuel in the Indian economy.

Coal India stock touched an intraday high of Rs 156.45, rising 4.33 per cent on BSE.

10:30 am: Vodafone Idea shares jump over 9%

Shares of India's leading telecom operator Vodafone Idea Limited jumped over 9 per cent to hit an intraday high of 10.49 on BSE after the company announced its collaboration with A5G Networks.

The company announced its collaboration to enable industry 4.0 and smart mobile edge computing in India. Vi and A5G Networks have together set up a pilot private network in Mumbai utilising existing 4G spectrum.

9:40 am: Sensex rallies 1300 pts, Nifty tops 16650

Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading over 2 per cent higher on Friday, shrugging off the Russia-Ukraine concerns. BSE Sensex rallied over 1,100 points to hover around 55,700, while Nifty 50 index reclaimed 16600.

Where are the markets headed? Watch here:

 

9:20 am: Sensex zooms over 1100 points

Equity benchmark Sensex was trading sharply higher in the early trade on Friday. Likewise, Nifty also jumped over 300 points to 16,572.

Tata Steel and IndusInd Bank were the top gainers on Sensex.

All the stocks on Sensex were trading in the green.

9:16 am: Market opening

Equity benchmark Sensex opened over 800 points higher at 55,397.29 and Nifty also jumped over 260 points to 16,515.65 after US and its allies announced harsher sanctions against Russia.
 

9:00 am: Oil prices soar $2 per barrel as markets eye sanctions impact

Oil prices soared nearly $2 per barrel in early trade on Friday as Russia's invasion of Ukraine continued to inflame global supply concerns as markets brace for the impact of trade sanctions on major crude exporter Russia.

Global benchmark Brent crude LCOc1 rose $1.99, or 2%, to $101.07 a barrel around 0155 GMT on Friday. US West Texas Intermediate (WTI) crude CLc1 climbed $1.89, or 2% to $94.70 a barrel.

The attack on Ukraine caused prices to surge to more than $100 a barrel for the first time since 2014 on Thursday, with Brent touching $105, before paring gains by the close of trade.

8:45 am: Global updates

US stocks ended sharply higher on Thursday, led by a 3% gain in the Nasdaq, in a dramatic market reversal as US President Joe Biden unveiled harsh new sanctions against Russia after Moscow began an all-out invasion of Ukraine.

The S&P 500 rose more than 1%, ending a four-day slide amid worries over the escalating crisis. The Dow also ended in positive territory.

The Dow Jones Industrial Average rose 92.07 points, or 0.28%, to 33,223.83, the S&P 500 gained 63.2 points, or 1.50%, to 4,288.7 and the Nasdaq Composite added 436.10 points, or 3.34%, to 13,473.59.

Asian markets were trading in the green on Thursday in line with their US peers after US and its allies announced harsher sanctions against Russia.

Japan's benchmark Nikkei 225 added 386 points to 26,359. Australia's S&P/ASX 200 rose 25 points to 7,016. South Korea's Kospi gained 26 points to 2,675.

Hong Kong's Hang Seng climbed 91 points to 22,992 , while the Shanghai Composite added 47.76 points to 3,477.

8:35 am: FII and DII action

Foreign institutional investors (FIIs) sold shares worth Rs 6,448.24 crore on February 24, and domestic institutional investors (DIIs) bought shares worth Rs 7,667.75 crore, as per provisional data available on NSE.

8:30 am: SGX Nifty

The Indian equity market is likely to open on a positive note as SGX Nifty was up 90 points to 16,510.50.

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

8:15 am: Market on Thursday

Sensex ended 2,700 points lower on Thursday after global markets came under huge selling pressure amid Russia's invasion of Ukraine. Sensex ended 2,702 points lower at 54,529 and Nifty slumped 815 points to 16,247.

IndusInd Bank was the top Sensex loser shedding 7.88 per cent, followed by Bajaj Finance, Axis Bank, M&M , Tech Mahindra. All 30 Sensex stocks closed in the red.

BSE mid-cap and small-cap indices lost 1,301 points and 1,555 points, respectively. On the sectoral front, banking, consumer durables, IT and capital goods shares led the losses today.

BSE consumer durables index fell 1514 points to 40,950 and the banking index plunged 2373 points to 40,547. BSE capital goods index lost 1172 points to 26,492 and the BSE  IT index crashed 1551 points to 32,329.