Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian equity markets opened lower with Nifty below 15,900 amid weak global cues. At open, the Sensex was down 1,326.62 points or 2.44% at 53,007.19, and the Nifty was down 357.40 points or 2.20% at 15,888. NSE price feed was facing intermittent issues with traders complaining that NSE exchange trades are being seen frozen and Nifty 50 levels are also stuck. NSE said that normalcy has returned as feeds started functioning normally. “This is to update you that broadcast has resumed normally in all indices,” it said. The exchange had earlier said that Nifty and Bank Nifty were indices were facing issues in feed while other segments were working fine. Meanwhile, BSE tweeted that it is working normally.
Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates March 7 Monday
“At present levels, the markets are giving excellent opportunities for investors to deploy their capital by modestly accumulating good quality stocks. Sectors that are beaten down the most like Autos, financials, etc. will bounce back equally fast.”
~ Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services.
“Nifty is being dragged by unending geopolitical tensions that are threatening to get worse with Europe's largest nuclear plan under Russia's siege. That being said, at current levels, Nifty is oversold on the short-term charts. Again, technicals tend to get defined when the sentiments are governed by external factors.”
~Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services.
Benchmark indices erases some of the intraday losses in noon deals but are still trading lower with Nifty above 15,900. The Sensex was down 1,163.36 points or 2.14% at 53170.45, and the Nifty was down 313.80 points or 1.93% at 15931.60.
Investors' wealth tumbled over 5.91 lakh crore in morning trade on Monday tracking heavy decline in domestic equities amid intensifying conflict between Russia and Ukraine.
Shares of JK Cement slipped 9 per cent on Monday to Rs 2,395, fresh 52-week low, on the BSE after the company said its board approved an investment of Rs 600 crore into the paint venture, which will be infused over a five-year period.
We expect gold prices to trade up in the coming week with COMEX spot gold resistance at $2050 per ounce and support at $1970 per ounce. At MCX, Gold April prices have near term resistance at Rs 54600 per 10 grams and support at Rs 52800 per 10 gram. COMEX Spot silver has near term resistance at $26.50 per ounce with support at $25.20 per ounce. MCX Silver May has important resistance at Rs 72800 per KG and support at Rs 68000 per KG.
Rakesh Jhunjhunwala-backed Nazara Technologies board has approved issuance of equity shares worth Rs 25 crore to existing shareholders of Datawrkz Business Solutions. These shares will be issued on a preferential basis, at a price of Rs 2,260 per share. Nazara Technologies shares were trading at Rs 1,769.25, up Rs 21.50, or 1.23 per cent on the BSE.
Nifty Bank, Smallcap indices entered bear zone on Monday. A stock or index is said to be in the bear zone when it falls at least 20 per cent from its all-time high.
Cryptocurrency prices fell on Monday amid the raging war between Russia and Ukraine. The world's largest cryptocurrency, Bitcoin, slid below $38,000.
The Indian rupee has been hit amid the global economic turmoil caused by the Russia-Ukraine war. The Indian currency opened at a record low of 76.93 against the US dollar. It has depreciated 3.5 per cent against the US greenback in 2022 and the main reason behind this is the persistent foreign fund outflows and a weak trend in domestic equities weighing on it, according to forex traders.
“This is to update you that broadcast has resumed normally in all indices, NSE said. The exchange had earlier said that Nifty and Bank Nifty indices were facing issues while other segments were working fine.
JMFS Technical Cash Pick: BUY ZEEL at Rs 224.30. Stop Loss Rs 190 and target of Rs 300 per share. Time Frame : 6 Months
~ Rahul Sharma, Director & Head – Research, JM Financial.
Only four Sensex stocks were trading in the green on Monday morning. Infosys was up 0.55%, followed by Bharti Airtel, Tata Steel, and HCL Technologies.
Bucking market trend, shares of Oil and Natural Gas Corporation (ONGC) rallied 5 per cent to Rs 172.65 on the BSE in Monday’s intra-day trade amid market sell-off on the back of rising crude oil prices.
The Nifty Auto index plunged 4.38 per cent in the early trade. Maruti Suzuki India was the top Nifty loser, with the share price plunging 6 per cent to Rs 6,825.
Following traders' complaints of NSE price feed showing irregularities, NSE tweeted, “Trading in all segments is functioning normally. However, NIFTY and BANKNIFTY indices are intermittently not getting broadcasted. The Exchange is working on resolving the issue and shall keep the members informed.”
“There is an issue with NSE due to which live price of the index is not ticking across brokers,” new-age investment platform Groww told investors on Twitter. Groww said it was working with the exchange to resolve the issue same on priority while adding that order placement remains unaffected.
“We have started receiving live data from NSE except for indices. To confirm, you can check the last trade time (LTT) in the market watch before placing orders,” said Zerodha in a tweet. The brokerage firm removed the earlier tweet and has clarified that it is receiving data except for indices.
Benchmark indices extended the early losses and were trading near the day's low with Nifty below 15800. The Sensex was down 1,476.07 points or 2.72% at 52,857.74, and the Nifty was down 460 points or 2.83% at 15,785.40.
“Take Profits in Nifty Bearish positions and wait on sidelines. Bank Nifty short view to continue for 32,200 with trailing SL at 33,500.”
~Rahul Sharma, Head – Research, JM Financial Services
Stock brokers such as ICICI Direct and Zerodha have now started receiving data feed from the NSE. However, some investors were still complaining of glitches on Twitter.
“We have started receiving live data from NSE. To confirm, you can check the Last Trade time (LTT) in the market watch before placing orders,” said Zerodha in a tweet.
After National Stock Exchange (NSE) price feed froze for a couple of minutes, Zerodha tweeted, “There is an issue with data feeds for NSE stocks from the exchange across all members. Please check 20 market depth before placing orders or place orders on BSE.” Following NSE's intermittent issues, BSE tweeted, “BSE is working normally today.”
NSE feeds are working fine now. Orders are getting executed in both the exchanges. You may look at order book depth and last traded time at the exchange before placing orders.
~ ICICI Direct
Maruti Suzuki, Bajaj Finance, ICICI Bank, Eicher, M&M were the top blue-chip laggards on Monday. As many as 46 stocks in the Nifty50 pack in the red. The only gainers on Nifty50: Hindalco, Coal India, ONGC and Tata Steel.
The National Stock Exchange (NSE) in a circular earlier last week had said that it will be conducting trading sessions from its disaster recovery site today. NSE conducted a mock session on the site on March 5.
“There is an issue with data feeds for NSE stocks from the exchange across all members,” said Zerodha on Monday morning.
Data feeds from NSE to stock brokers were facing issues on Monday morning.
The International Monetary Fund said the war in Ukraine was already driving energy and grain prices higher, and had sent a wave of more than 1 million refugees to neighboring countries, while triggering unprecedented sanctions on Russia. “While the situation remains highly fluid and the outlook is subject to extraordinary uncertainty, the economic consequences are already very serious,” said IMF in a statement after a board meeting chaired by Managing Director Kristalina Georgieva.
Maruti Suzuki India share price plunged 6% to Rs 6,825 after the automaker shared its plans to bolster its presence in fast-growing SUV segment.
Nifty Bank, Auto and Realty indices cracked 4 per cent each. Nifty IT was down 1.6 per cent, while Nifty Metals was the only outlier in green, holding marginal gains.
“Bank Nifty down nearly 2,000 points after initiating Bearish view on Thursday last week at 35,000. Small support placed at 33,000. Heading for our target of 32,200.”
~Rahul Sharma, Head – Research, JM Financial Services
Oil prices surged more than 10 per cent as the risk of a US and European ban on Russian product and delays in Iranian talks triggered a major inflationary shock for world markets. Brent crude traded $12.73 higher at $130.84, while US crude surged $9.92 to $125.60. Having climbed 21 percent last week, Brent crude was further energised by the risk of a ban of Russian oil by the US and Europe. MCX oil March contract hits 6 percent upper circuit at Rs 9,094.
Except Tata Steel, all other stocks on the BSE Sensex in red in the early trade
Indian indices opened lower with Nifty below 15,900 amid weak global cues. The Sensex was down 1,326.62 points or 2.44% at 53007.19, and the Nifty was down 357.40 points or 2.20% at 15888.
Crude oil prices soared to their highest since 2008 due to delays in the potential return of Iranian crude to global markets and as the United States and European allies consider banning imports of Russian oil. Brent rose $11.67, or 9.9%, to $129.78 a barrel by 6:50 p.m. EST (2350 GMT), while U.S. West Texas Intermediate (WTI) crude rose $10.83, or 9.4%, to $126.51, putting both contracts on track for their highest daily percentage gains since May 2020.
Benchmark indices are trading lower in the pre-opening session amid weak global cues. The Sensex was down 369.79 points or 0.68% at 53964.02, and the Nifty was down 208.90 points or 1.29% at 16036.50.
“Markets are expected to remain tricky in the short term so caution is warranted. Over the weekend, the main focus will be on news related to the Russia-Ukraine war as further escalation would result in continued pressure in the coming week. Moreover, rising crude oil is a headache for our economy and related sectors are already under tremendous pressure. We feel it’s time to remain selective and look for pockets that are fundamentally sound and likely to rebound quickly with stability in markets.”
~Ajit Mishra, VP – Research, Religare Broking
“Aside from foreign issues, the domestic market will be watching the Bank of England and the Federal Reserve of the United States for policy announcements. Investors should be cautious in the short term because the outlook appears to be uncertain, but we have a long-term optimistic outlook on Indian equities and believe that one should invest gradually in every dip. On the technical front, Immediate support and resistance in Nifty 50 are 15700 and 16500 respectively. Bank Nifty immediate support and resistance are 33500 and 35100 respectively.”
~ Mohit Nigam, Head – PMS, Hem Securities
“Benchmark indices may open on a bearish tone today, according to SGX Nifty trends. This week's focus will be on the Russia-Ukraine conflict and its impact on oil prices. On the home front, investors will be watching the outcome of the state elections in five states on March 10: Uttar Pradesh, Uttarakhand, Goa, Punjab, and Manipur. Investors all throughout the world are weighing the economic risks of this protracted conflict along with this macroeconomic industrial output data, as well as the direction of foreign fund flows and global commodity price variations, will influence investor mood.”
~Mohit Nigam, Head – PMS, Hem Securities
“Nifty continued to trend lower for the consecutive week, losing more than 10% from the record peak. Recoveries in the prior week remained short lived finding stiff resistance near 16800. Shifting range lower, levels of 16600 could turn out as immediate hurdle, whereas inability to sustain at current levels is likely to extend recent decline. Sectoral trend turned mixed due to sectors rotation. Sectors specific action is likely theme this week. Stability in the Auto index could provide
buying opportunity in selected stocks, while stocks specific correction within midcap space is expected to continue.”
~YES Securities
Bears continued to tighten their grip on the Indian market last week and closed in red with a fall of more than two per cent in two consecutive weeks. In the previous week, prices have formed a bullish ABCD harmonic pattern on the weekly chart and it continued to trade with the PRZ (potential reversal zone) of the pattern. The Momentum oscillator RSI (14) is continually forming lower high lower-bottom formation since the last week of September and has closed near 40 levels with a bearish crossover on the weekly interval.
Equity benchmark Indices logged their fourth consecutive week of losses last week, as a worsening Ukraine crisis sent oil prices surging and stoked inflation fears. The blue-chip Nifty 50 fell 2.5% or 413 points to settle at 16,245 while Sensex slumped over 1,525 points to 54,333, in their third consecutive session of losses. As Russia's invasion of Ukraine entered its second week, Ukraine authorities said Russian forces seized the largest nuclear power plant in Europe after a building at the complex was set ablaze during intense fighting.
“Nifty finds support around 15900 while 16500 will act as resistance on the upside. Bank Nifty finds support around 33600 while 35200 will act as resistance.”
~IIFL Securities
“Nifty has been sustaining below 200-DMA which adds weakness in the prices. A momentum indicator Stochastic & MACD suggested negative crossover on the daily chart, which pointed-out further bearishness in the index. The index can test the physiological level of 16000 breaching below it can show 15800-15700 levels while upside resistance comes at 16800 levels. On the other hand, Bank nifty has support at 34000 levels while resistance at 35000 levels,”
~Palak Kothari, Research Associate, Choice Broking
“Along with banking, sectors/stocks having a high dependency on crude are witnessing tremendous pressure while resilience is metal, IT and select energy stocks are offering some breather to bulls. We recommend continuing with a selective approach and keeping a check on leveraged positions until the market stabilises.”
~Ajit Mishra, VP Research, Religare Broking
“Markets are gradually drifting lower amid excessive volatility and the prevailing scenario is pointing towards negativity to continue. Focus to remain on the Russia-Ukraine crisis and its impact on crude. On the domestic front, participants will be closely eyeing the state elections results of 5 states on March 10. On the macroeconomic front, IIP data is scheduled for March 11. We reiterate our downside target at 15,900 in Nifty while the immediate resistance has now shifted to 16,500 and major around 16,800 zone.”
~Ajit Mishra, VP Research, Religare Broking
“Both Nifty and Bank Nifty ended the last week with a breakdown below 16,500 and 35,000 respectively. An 8-week consolidation happened in Nifty in the range of 15,500 to 15,950 and it took multiple attempts to breach 15,900. The 15,900 level is expected to provide support on weekly closing basis and capitulation to happen this week. Markets would be heavily oversold below this mark. Global cues are again negative this morning with Brent oil touching the $130 mark. Rally on commodities continue with Gold cross the $2,000 mark.”
~Rahul Sharma, Head – Research, JM Financial Services
Sensex and Nifty look set to enter the first trading session of the week under the firm grip of bears. SGX Nifty was trading down by a whopping 400 points during the early hours of trade suggesting a deep red start for Dalal Street equity indices. S&P BSE Sensex is currently placed at 54,333 while the NSE Nifty 50 is at 16,245 — both after having slumped more nearly 2.5% during the week. Global cues were also suggesting a negative opening with Hang Seng, Shanghai Composite, Nikkei 225, TOPIX, KOSPI, and KOSDAQ sitting deep in the negative territory.
“The market's direction would be heavily influenced by the ongoing geopolitical tensions. On the macroeconomic front, investors will be keeping a careful eye on China's and the United States' inflation numbers. As commodities and crude oil prices are skyrocketing amid the war, inflation data becomes a critical indicator to determine the Fed's next course of action. Back home, the outcome of the state election, which is scheduled next week, will also impact the investor sentiment. Considering these events, the market's range-bound movement is expected to continue, and investors can look for selective buying while maintaining an overall cautious outlook. The Nifty50 closed the week at 16,245.35, down by 2.48%.”
~Yesha Shah, Head of Equity Research, Samco Securities
