The Sensex and Nifty closed lower today with traders booking profit primarily in banking and auto stocks. While the Sensex fell 100 points to 38,132 level, the Nifty lost 38 points to 11,445. YES Bank (5.62%), IndusInd Bank (5.27%) and SBI (1.57%) were the top Sensex gainers. Top Sensex losers were NTPC (2.25%), Tata Motors (1.85%) and Bharti Airtel (1.49%).
Jet Airways shares rise 5% after airline plans to fly 40 more aircraft
Of 30 Sensex stocks, 20 closed in the red. Bank Nifty which hit all-time high of 30,262 in early trade pared gains to close 137 points higher at 30,019. BSE bankex too pared gains to end 233 points higher at 33,674 after hitting an all time high of 33,934 level in early trade. Market breadth was negative with 1203 stocks ending in the green compared to 1549 closing lower on BSE.
Defence stocks jump as PM Modi announces success of 'Mission Shakti', HAL zooms 7%
On Tuesday, the Sensex and Nifty extended morning session gains to close 424 points higher at 38,233 and 129 points higher at 11,483, respectively.
Here's a look at live updates for the Indian share market today.
4:30 pm: Sahaj Agrawal, head of research at Kotak Securities said,"Nifty is trading with significant gains for the March series and is expected to hold on to the same. Banking space has outperformed with a significant margin while auto and metals have underperformed in the recent past. We continue to maintain a positive bias for the broader markets with bouts of correction to be used for accumulation. In the near term, support on the downside is seen at 11,200 levels while targets are seen at 11,800/12,200."
4:15 pm: Nagaraj Shetti, Senior Technical and Derivative Analyst at HDFC securities said, "After showing a fine upside bounce in the last session, the Nifty shifted into consolidation today and closed the day lower. A negative candle was formed today, which has slightly overlapped the bull candle of Tuesday. Technically, this pattern is signalling a choppy trend or minor profit booking at the highs.
The near term uptrend status of Nifty remains intact. We may observe a range bound action or minor weakness in the next 1-2 sessions, before showing further upside."
3:30 pm: Sensex, Nifty reverse morning gains, close lower. While the Sensex fell 100 points to 38,132 level, the Nifty lost 38 points to 11,445.
3:21 pm: Hero MotoCorp hits fresh 52-week low of 2,538 on BSE.
3:20 pm: Global rating agency Moody's has confirmed Baa3 ratings and retained stable outlook of Power Finance Corporation (PFC) and REC Ltd on expectation the deal between the two companies will conclude soon. Last week, state-owned PFC had said it would acquire the entire 52.63 percent shares of the government in REC for Rs 14,500 crore by the month-end.
3:16 pm: Sensex, Nifty look set for negative close this trading session.
3:12 pm: Sensex trading 69 points lower to 38,163, Nifty down 30 points to 11,449.
2:30 pm: Inox Leisure share price rises 14% or 40 points to 334 level on BSE.
2:18 pm: On sectoral basis, BSE oil and gas index lost 107 points to 15,059 in trade today. HPCL was the top loser falling 2.71% to 269.20 level.
2:17 pm: BSE bankex rises 204 points to 33,645. The index hit an all-time high of 33,934 in early trade today.
2:14 pm: Bank Nifty pares gains, trades 173 points higher at 30,055. The index hit an all-time high of 30,262 in early trade.
2:00 pm: Midcap and small cap indices rise 98 and 36 points, respectively to trade at 15,178 and 14,720.
1:52 pm: While the Sensex fell 80 points to 38,152 level, the Nifty lost 43 points to 11,439.
1:41 pm: Losses in Reliance Industries, HDFC, HDFC Bank, ICICI Bank, and Sun Pharma weigh on the broader index in afternoon session.
1:40 pm: Bears attempt recovery as benchmark indices plunge in the red.
1:35 pm: Market breadth turns negative as 1154 stocks rise compared to 1430 trading in the red.
12:50 pm: Dhananjay Sinha, head-Institutional Research, Economist and Strategy at Emkay Global Financial Services said, "A higher probability of the current party coming back to power is something the market wants to play. The idea is that the rebound that we saw in 2014 (after Modi was elected) would replay. We'll have to see whether the same story can play with effectiveness."
12:32 pm: Sensex rises marginally as PM Modi speaks about Mission Shakti which was accomplished in three minutes. Sensex up 152 points to 38,385 and Nifty rises 43 points to 11527.
12:30 pm: India has become the fourth nation to achieve this feat. The other three nations are China, US and Russia. Mission Shakti places India as a strong nation in space warfare.
12:29 pm: India has successfully destroyed a low orbit satellite, says Modi.
12:28 pm: PM Modi says India has shot down a live satellite in space.
12:26 pm: Modi says Mission Shakti has been successfully accomplished with launch of anti satellite missile.12:25 PM: Modi says India has shot down a live satellite in space.
12:24 PM: PM Narendra Modi says India has registered itself as a space power.
12:20 PM: Gains in IndusInd Bank, YES Bank, SBI, ITC, and Axis Bank boost the broader index in midday trade.
12:15 PM: 44 shares hit 52-week highs and 103 fell to their 52-week lows on BSE.
12:13 pm: Shares of ICICI Prudential Life Insurance Company rallied 9 per cent to Rs 348 on the BSE after the promoter's share sale programme received good response from non-retail investors. The offer for sale (OFS) of ICICI Prudential saw subscription of 3.9 times. Investors placed bids for 210 million shares against 53.26 million shares on offer. Prudential Corporation Holdings is selling up to 3.71 per cent stake in ICICI Prudential Life Insurance Co to raise nearly Rs 1,600 crore. The offer for sale of shares by the promoter began on Tuesday. The floor price for the sale has been fixed at Rs 300 apiece. The sale offer was open for non-retail investors on March 26 and closed on the same day. Retail investors can participate in the OFS today.
11:40 am: Sensex trades 120 points higher with 20 components in the green in morning session.
11:25 am: Mindtree share price falls 4.16% intra day to 911 after the company cancelled the share buyback plan to thwart open offer from L&T and formed a panel of independent directors to look into "unsolicited open offer" by infrastructure major Larsen & Toubro to give its recommendations.
11:19 AM: Spurred by rise in banking stocks, BSE Bankex hits fresh 52-week high of 33,856. The index has gained 11.43% since the beginning of this year.
11:15 am: Sensex heavyweight Reliance Industries share price trading 0.23% higher at 1370 level on BSE.
11:00 am: United Breweries (Rs 1019.62 crore), YES Bank (Rs 66.59 crore), Natco Pharma (Rs 50.65 crore) top volume gainers on BSE.
10: 45 am: Alembic Pharmaceuticals share price rises over 1% to 535.10 after the company said it has received US Food & Drug Administration (USFDA) Approval for Tadalafil Tablets USP, 2.5 mg, 5 mg, 10 mg and 20 mg.
10:30 AM: Voltas share price rises over 2% or 13 pts to 625 level in early trade on BSE after HSBC maintains buy call on the stock with a target price of Rs 640. Under-penetration & benign base should drive 10% industrial growth in FY20. No price discounting due to delayed summer. The brokerage expects earnings over FY19-21 to grow by 22% compounded annual growth rate. Its sees revenue growth outstrip volume growth and profit after tax outgrow revenue growth.
10:17 am: Tata Group-led consortium with GIC to buy a 40% stake in all GMR airports for Rs 8,000 cr. GMR Infra share price has gained 15% during the last two days.
10:06 AM: Shares of United Breweries rose as much as 8 percent, to Rs 1,464.65 on NSE. About 74 lakh shares of the company changed hands in a block deal, Bloomberg data showed.
9: 57 am: RCOM (5%), Vodafone Idea (4.05%), Prestige Estates (3.56%) are top losers on BSE.
9:53 am: ICICI Prudential Life Insurance Company (7.48%) , Godrej Agrovet Ltd (5.91%) and UCO BANK (5.18%) are top gainers on BSE.
9: 49 am: YES Bank share price hits intra day high of 259, up 2.09%. YES Bank has gained 41% since the beginning of this year.
9:48 AM: HDFC Bank share price hits all-time high of 2328 level.
9: 43 am: Jet Airways share price rises over 4 percent to 286.70 in early trade after Pradeep Singh Kharola, secretary at civil aviation ministry said that the airline will fly 40 more planes by the end of next month and is in talks with leasing companies to restart operating several of its grounded aircraft.
9: 40 am: IndusInd Bank (3.55%), YES Bank (1.68%) and Bharti Airtel (1.40%) were the top Sensex gainers.
9: 35 am: Top Sensex losers were ONGC (1.10%), NTPC (0.61%) and PowerGrid (0.52%).
9: 30 am: Meanwhile, the mid cap and small cap indices were trading 91.27 points and 67.28 points higher in early trade.
9:27 am: Market breadth was positive with 943 stocks trading higher compared to 502 falling on the BSE.
9:25 am: Banking and capital goods stocks led the gains with their indices rising 258 points and 146 points, respectively.
9:21 am: On a net basis, foreign portfolio investors (FPIs) bought shares worth a net of Rs 999.02 crore on Tuesday, and domestic institutional investors (DIIs) were net sellers to the tune of Rs 196.7 crore, provisional data available with BSE showed.
9:20 AM: Bank Nifty hits all time high of 30,089 in early trade.
9:15 am: Sensex rises 186 points to 38,420, Nifty gains 40 points to 11,522.
9:11 am: The Reserve Bank of India (RBI) has imposed Rs 2 crore penalty on Punjab National Bank for failing to comply with its guidelines on the use of the global payments network SWIFT, the state-run lender said. However, the Punjab National Bank stock is trading 1.57% higher at 93.75 level on BSE.
9: 10 am: State-owned Power Finance Corporation (PFC) on Thursday will make the entire payment of Rs 14,500 crore to the government for acquiring 52.63 per cent stake in REC, a source said. The deal would help the government meet its disinvestment target of Rs 80,000 crore for the current financial year ending on March 31.
9:05 am: State-owned Allahabad Bank would raise up to Rs 4,000 crore equity capital by various means including public issue. Allahabad Bank share price rises over 2% to 52.40 level.
9: 00 am: Rupee opens at 68.99 per dollar from its last close of 68.86.
8:55 am: Stocks finished broadly higher on Wall Street Tuesday, erasing the market's modest losses from a day earlier. Financial, technology and health care stocks accounted for much of the rally. Banks got a boost from rising bond yields, which let them charge higher rates on loans. Energy companies led the S&P 500 higher as the price of U.S. crude oil moved briefly above $60 a barrel. Oil hasn't closed above $60 a barrel since November.