Don’t miss the latest developments in business and finance.

Sensex slides 366 pts, Nifty below 16,500; auto stocks bleed; IT dazzle

CLOSING BELL: Ultratech Cement, HDFC Life, Asian Paints, Shree Cement, Eicher Motors, SBI Life, and Tata Consumer Products were the top laggards, down up to 6.5 per cent

SI Reporter New Delhi
Traders, brokers, markets, stocks, shares, investments, funds

3 min read Last Updated : Mar 03 2022 | 4:12 PM IST

Key Events

4:12 PM

Nifty technical view : Bearish candle suggests negative set up

<< Nifty ended lower after a volatile trading session. On the lower end 16,450 acted as support whereas on the higher end 16,700 acted as resistance. 

<< A bearish candle after doji suggests negative set up. On the lower end, 16,450 may remain a support, whereas, on the higher end 16,650-16,700 is likely to act as resistance

Views by Rupak De, Senior Technical Analyst at LKP Securities. 


4:10 PM

Market closing commentary : Large -Caps drag by FII selling

<< The subdued trend of the domestic market continued however the level of volatility is reducing.

<< Today, large caps were more muted, dragged by FIIs selling, compared to the broad market.

<< The release of strategic reserves of oil in India & abroad along with increased output from OPEC is expected to ease crude prices in the future.

<< The Indian market will look at the state election exit poll data while the global market on war developments, BoE, and Fed policy meeting status from next week.

Views by Vinod Nair, Head of Research at Geojit Financial Services.  

 

4:06 PM

Ramco Cements slides 6% after promoter group sold 1.27 lakh shares on Feb 28

 

4:03 PM

SmallCap Mukand gains on land sale agreement for Rs 806.14 crore

 

4:01 PM

Bombay Dyeing rises 4% on report company may demerge real estate arm

 

3:55 PM

Shipping Corp surges 17% on SEBI nod for demerger of its land/asset business

 

3:52 PM

Gujarat Gas, United Breweries, Ashok Leyland top BSE500 losers

 

3:50 PM

High fuel costs may weigh on cement companies' margins; stocks slide

 

3:47 PM

18 of 50 Nifty stocks close in positive zone; ONGC, UPL, Wipro top performers

 

3:44 PM

Broader markets subdued; SmallCaps buck weak trend, end in green

 

3:42 PM

Sectoral trend: Banks, Auto, Financials hit; IT, Metals, Energy stocks shine

 

3:38 PM

Sensex-30 heatmap : 20 shares decline; Ultratech Cement, Asian Paints slip up to 6%

 

3:36 PM

Closing Bell : Nifty50 shies away from 16,500, loses 108 pts

 

3:33 PM

Closing Bell : Sensex sheds 366 points to end volatile session; falls 890 pts from day's high

 

3:28 PM

Indian trade, current account deficit seen widening, rupee under pressure

India's trade and current account deficits are likely to widen, putting pressure on the rupee, as global oil prices surge and the domestic economy reopens from a third wave of the pandemic, economists and analysts said. Read more.

 

CLOSING BELL

Bulls lost to bears during the second half of the trading session on Thursday as geopolitical uncertainty and weekly F&O expiry kept investors on the sidelines. 

After starting over 450 points higher, the S&P BSE Sensex turned volatile and eventually closed the session in the red. The index was last seen at 55,103, down 366 points or 0.66 per cent.

On the NSE, the Nifty50 index touched an intra-day high and low of 16,769 and 16,463, respectively, amid heightened choppiness. It shut shop at 16,498, down 108 points or 0.65 per cent. 

ONGC, Power Grid, UPL, Wipro, Tech M, HCL Tech, and Coal India were the top gainers on the Nifty index today, rising between 2 per cent and 4.6 per cent. On the downside, Ultratech Cement, HDFC Life, Asian Paints, Shree Cement, Eicher Motors, SBI Life, and Tata Consumer Products were the top laggards, down up to 6.5 per cent.

The broader markets, however, ended mixed with the BSE MidCap index settling 0.64 per cent down. The BSE SmallCap index, on the other hand, added 0.35 per cent.

Among individual stocks, the shares of Vodafone Idea (Vi) surged 7.5 per cent to Rs 11.23 on the BSE in Thursday's intra-day trade ahead of the board meeting today to consider fund raising. The stock of telecom services provider quoted higher for the fourth straight day, and has rallied 16 per cent during the period. READ MORE

That apart, shares of Adani Green Energy gained 6 per cent to Rs 1,995.95 on the BSE in Thursday's intra-day trade, soaring 9 per cent in the past two trading days, after the company announced that its arm has received Letter of Award (LOA) to set-up 150 MW solar power project. READ MORE

Overall, the advance-to-decline ratio favoured buyers on the BSE courtesy outperformance in smallcap stocks. Buyers outnumbered sellers in the ratio of 1.5:1.

Sectorally, the Nifty Auto index declined 2 per cent on the NSE, followed by the Nifty Private Bank, Bank, and Consumer Durable indices, down 1 per cent each. On the flipside, the Nifty IT and Metal indices added 1 per cent each.

Global markets
European stocks nudged higher on Thursday as tensions remained high over the Russia-Ukraine crisis, with oil and material prices continuing to spike. The pan-European Stoxx 600 added 0.5 per cent in early trade, with basic resources jumping 2.9 per cent and oil and gas stocks climbing 1.5 per cent to lead gains. 

On Wall Street, Dow Jones Futures were down 0.2 per cent, while S&P500 and Nasdaq Composite futures slipped 0.07 per cent and 0.25 per cent, respectively. 

Earlier in Asia, Japan's Nikkei added 0.7 per cent, South Korea's Kospi gained 1.6 per cent, and Australia's ASX200 rose half a per cent..

Topics :SensexMARKET LIVEMARKET WRAPMarketsNiftySGX NiftyUS Fed rate hikeFed Reserve Chair Jeremy PowellVedanta UPLJindal SteelJSW steel

First Published: Mar 03 2022 | 8:04 AM IST