Share Market updates: Sensex rises 1,328 pts, Nifty ends above 16,650; Tata Steel top gainer

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!

3: 35 pm: Market ends in green

Sensex closes 1,328 points higher at 55,858 and Nifty zooms 410 points to 16,658.

3:20 pm: SpiceJet stock zooms 8.13%

SpiceJet stock zooms 8.13% to Rs 60.55 in the afternoon session after the airline said it would start six flights between India and Bangkok from March 10 onwards. "The airline will introduce daily direct flights connecting Delhi, Mumbai and Kolkata with the Thai capital," said the airline in a press release.

3:10 pm: India VIX falls 16%

India VIX falls 16% to 26.88, signalling a decline in volatility in the Indian equity market.

3: 00 PM:  Market in the green

Market breadth is positive with 2,581 stocks rising against 746 falling on BSE. 99 shares are unchanged .

2: 35 pm: Expert Quote

Gaurav Garg, Head of Research, Capitalvia Global Research said, "Benchmark equity indices maintained their upward momentum in noon dealings during the rock-solid session of trade, owing to purchasing in front-line counters and adopting cues from overseas peers. Investors were relieved by a series of strong sanctions imposed by the US and other countries against Russia. The Indian economy is now prepared for recovery, according to Chief Economic Advisor (CEA) V Anantha Nageswaran, but the high crude oil price is a matter for concern. He said that the country's banking industry is stable, that capital is plentiful, and that credit demand is on the rise. On the global front, Asian markets were mainly higher, owing to a bounce in US equities following the announcement of new penalties against Russia."

 2:02 pm: Market check

Sensex rises 1327 pts  to 55,857 and Nifty zooms 421 pts to 16,669 in afternoon session. Of 30 Sensex stocks, 28 are trading in the green. Tata Steel, IndusInd  Bank, NTPC and Bajaj Finance are the top Sensex gainers, rising up to 6.61%

1:50 pm: Expert quote

Vaibhav Sanghavi, Co-CEO, Avendus Capital Public Markets Alternate Strategies said, "The current market conditions are a good example of how risk factors emanate from geopolitical tensions, and the effect it has on investments. While geopolitical uncertainties are ruling the roost currently, other pertinent concerns that could shake the markets are expected in March.

UP election results, LIC IPO and Fed meet on interest rate hikes will continue to be important events, going forward. Against this backdrop, volatility in global and local markets will remain elevated, leading to de grossing of books. Markets are likely to be volatile in the month of March and post that we may see some stability return. The correction in the markets may give investors an opportunity to enter good businesses. We will be watching out for cues on global volatility and oil prices to subside for signs of stability."

1:24 pm: Bitcoin rises 9%

World's largest cryptocurrency Bitcoin was trading over 9% higher today. The price of Bitcoin rose 9.40% to $38556 on Coinmarketcap. Market cap of the cryptocurrency rose to $731.565 billion.

12: 50 pm: Market cap of BSE-listed firms rises to Rs 249.62 lakh crore against Rs 242.28 lakh crore in the previous session.

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.