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Stock Market Live: Sensex jumps 850 points, Nifty above 14,750 as bond market calms; all sectors in the green

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Stock Market Live: Sensex jumps 850 points, Nifty above 14,750 as bond market calms; all sectors in the green

Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking

The brief time period tide has turned downwards and the view will stay intact so long as 15,200 will not be damaged. On a direct foundation, 14,750 – 14,920 are to be seen as stiff hurdles. Merchants mustn’t get intimidated if all of the above talked about eventualities flip right into a actuality as a result of the bigger diploma uptrend continues to be very a lot intact. Since a very long time, market has not seen any main correction, so this could solely be construed as a a lot awaited revenue reserving or a brief time period corrective section which is wholesome within the longer run. Momentum merchants ought to keep away from aggressive or leveraged longs for some time; fairly use first rate declines to build up high quality propositions with the broader view.

Manish Hathiramani, Proprietary Index Dealer and Technical Analyst, Deen Dayal Investments

We’re at an important juncture; Whereas the markets have opened with a niche up, there’s a resistance for the Nifty between 14,820-14,950. The index might pause round these ranges. Until we don’t get previous this patch, any rally-up needs to be checked out as a possibility to brief the markets for a goal of 14,350.

Indian Oil shares acquire over 3% on Panipat refinery capability growth plan

Shares of Indian Oil Company Ltd (IOC) rallied over 3 p.c in early commerce on Monday after the downstream firm mentioned it can develop Panipat refinery capability to 25 million tonnes per yr from 15 million tonnes per yr earlier. In an change submitting on Friday, the state-owned refiner mentioned that its board accredited capital funding for capability growth of Panipat Refinery from 15 MMTPA to 25 MMTPA together with the set up of Polypropylene Unit and Catalytic Dewaxing Unit at an estimated value of Rs 32,946 crore. The undertaking is anticipated to be commissioned by September 2024, it added. “The capability growth would enhance the operational flexibility of the Refinery to satisfy the home power demand and would additionally improve the petrochemicals depth. The elevated prcduction of petrochemicals and worth added specialty merchandise wouldn’t solely enhance the margins but in addition de-risk the standard gasoline enterprise of the corporate,” IOC mentioned.

BSE, NSE make clear on complaints about difficulties within the execution of trades; says exchanges working usually

 


After quite a few buyers and brokerages complained about difficulties within the execution of trades, each exchanges clarified that there aren’t any points from their finish. BSE mentioned that there isn’t any challenge with contemporary orders or sq. offs at BSE whereas NSE spokesperson additionally clarified that every one the operations on the NSE platforms are functioning clean & regular. The BSE MD Ashish Chauhan tweeted that every one market segments are working usually. Brokerage home HDFC Securities had confirmed some technical challenge on NSE money buying and selling. In the meantime, buyers are additionally dealing with points on brokerage websites like Zerodha and Angel Broking. Extra right here

Port Shelter’s Richard Harris: Pullback is a chance to purchase; yields transferring to smart ranges

 

A big pullback within the Indian market is a chance to purchase, mentioned Richard Harris, chief govt at Port Shelter Funding Administration, on Monday. “We shouldn’t be shocked to see a pullback every so often (in India); even when noticed a big pullback, I nonetheless assume it’s a possibility to purchase,” Harris informed CNBC-TV18. On Asian markets, he mentioned, “Though we had a variety of carnage within the fashionable market final week, in some instances it isn’t such a foul factor that we’re taking a look at yields could also be transferring to extra smart ranges, definitely in Europe as an alternative of being destructive, hope we are going to see yields constructive as they need to be.” Watch the video for extra

Bajaj Auto February gross sales rise 6% to three.75 lakh models, miss estimates

 

Bajaj Auto’s whole automobile gross sales in February 2021 rose 6 p.c to 375,017 models from 354,913 models in the identical month of final yr. The corporate’s gross sales have been decrease than CNBC-TV18’s estimate of 4.05 lakh models. Home gross sales through the month fell 2 p.c to 164,811 models from 168,747 models in February 2020. Exports rose 13 p.c to 210,206 models from 186,166 models, YoY. The corporate’s whole two-wheeler gross sales through the month have been up 7 p.c at 3.32 lakh models as in comparison with 3.10 lakh models, YoY. The phase’s home gross sales elevated 1 p.c to 148,934 models from 146,876 models, whereas exports rose by 12 p.c to 183,629 models from 163,346 models, YoY. Extra right here

AstraZeneca has offered its stake in Moderna for greater than $1 billion: Report

AstraZeneca Plc has offered its 7.7 p.c stake in Moderna Inc for greater than USD 1 billion after the US biotechnology firm’s shares soared on the again of its coronavirus vaccine breakthrough, The Instances reported. The report added that it was not clear over what interval British-based AstraZeneca offered its holding in Moderna. AstraZeneca and Moderna didn’t instantly reply to requests for remark. AstraZeneca is retaining a partnership with Moderna on different illness therapies and will promote its AstraZeneca/Oxford College COVID-19 vaccine on a business foundation sooner or later if the virus turns into endemic, the report added. Moderna, whose vaccine is cleared for emergency use in opposition to COVID-19 in america, mentioned final week it was anticipating gross sales of USD 18.4 billion from its coronavirus vaccine this yr.

Gautam Trivedi of Nepean Capital feels the market is trying very thrilling from a 12-18 month perspective

Morning market quote from Dr. V Okay Vijayakumar, Chief Funding Strategist at Geojit Monetary Companies

“”The huge sell-off final Friday which noticed the Nifty crash by 568 factors signifies the market’s vulnerability to destructive triggers at excessive valuations. The huge FII promoting of Rs 8295 crores is certainly a  critical concern despite the fact that DIIs have turned patrons. Additionally, FIIs unwinding their longs and opening contemporary shorts is a destructive sign. The constructive issue is the US 10-year yield settling at 1.41%, falling from a excessive of 1.61%. Stability in bond yields will calm markets. It is usually vital to understand the truth that the rise in yields additionally signifies a revival of financial progress. On this excessively risky market, buyers could await consolidation. Dips could also be used to purchase high quality shares in segments like financials & IT. In the meantime, India is technically out of recession with the Q3 GDP knowledge turning constructive with 0.4% progress.”

Opening Bell: Sensex, Nifty open a p.c increased as bond markets calmed

Indian indices opened a p.c increased on Monday recovering from the earlier session’s large selloff. The positive factors have been on the again of a rally in world markets as bond markets calmed a bit after final week’s spike, in the meantime, progress within the enormous U.S. stimulus bundle underpinned optimism concerning the world economic system. At 9:17 am, was buying and selling 500 factors increased at 49,600 whereas the Nifty rose 165 factors to 14,694. Domestically, the markets witnessed broad-based shopping for throughout all sectors led by banks, financials and power. In the meantime, broader markets additionally began the week on the next observe with the midcap and smallcap indices up over a p.c every. On the Nifty50 index, ONGC, IOC, UPL, Coal India and UltraTech cement have been the highest gainers whereas solely Bharti Airtel and SBI Lifed have been within the purple in opening offers.

Asian shares bounce as bond market calms

Asian shares firmed on Monday as some semblance of calm returned to bond markets after final week’s wild trip, whereas progress within the enormous U.S. stimulus bundle underpinned optimism concerning the world economic system. China’s official manufacturing PMI out over the weekend missed forecasts, however buyers are relying on higher information from a raft of U.S. knowledge due this week together with the February payrolls report. Additionally serving to sentiment was information deliveries of the newly accredited Johnson & Johnson COVID-19 vaccine ought to begin on Tuesday. MSCI’s broadest index of Asia-Pacific shares outdoors Japan edged up 0.1%, after shedding 3.7% final Friday. Japan’s Nikkei rallied 2.0%, whereas NASDAQ futures bounced 0.8% and S&P 500 futures 0.7%.

JUST IN: KEC IntL baggage new orders of Rs 1,140 cr throughout its varied vusinesses

Oil costs climb after progress on enormous US stimulus invoice

Oil costs rose greater than USD 1 on Monday on optimism within the world economic system because of progress in an enormous US stimulus bundle and on hopes for bettering oil demand as vaccines are rolled out. Brent crude futures for Could rose USD 1.07, or 1.7 p.c, to USD 65.49 per barrel by 0042 GMT. The April contract expired on Friday. US West Texas Intermediate (WTI) crude futures jumped USD 1.10, or 1.8 p.c, to USD 62.60 a barrel. Extra constructive information on the coronavirus vaccination entrance and indicators of an bettering Asian economic system additionally boosted costs. Extra right here

Robinhood would possibly confidentially file for IPO in March

On-line buying and selling platform Robinhood is planning to confidentially file for an preliminary public providing (IPO) in March. In response to a Bloomberg report, the California-based Robinhood Markets has already held talks with underwriters, however a closing choice has not been made. The timing of the itemizing might change, say folks in know of the matter. Robinhood, nevertheless, declined to make any remark formally when contacted by Bloomberg. This comes barely three weeks after the corporate confronted a money crunch when it bumped into regulatory hassle. Robinhood had to attract down its credit score strains and lift $3.4 billion to submit extra collateral with the Depository Belief & Clearing Company (DTCC), the business’s clearinghouse. Given wild swings in shares, together with these of online game retailer GameStop and film theatre chain AMC Leisure Holdings Inc, the DTCC needed members to submit more money. Extra right here

US securities watchdog suspends buying and selling in 15 shares over hyped social media exercise

The US Securities and Trade Fee (SEC) mentioned that it suspended buying and selling within the securities of 15 firms on Friday due to “questionable buying and selling and social media exercise”. The newest step is the third and largest in a collection of short-term buying and selling halts in response to social media exercise amid risky buying and selling in “meme shares”. One of many corporations, Blue Sphere Corp — a penny inventory — was lately highlighted in a report after its spike in worth following a barrage of on-line posts. Few days in the past, SEC suspended buying and selling in SpectraScience, whose shares had surged 633 per cent in 2021. Extra right here

First up, right here is fast catchup of what occurred within the markets on Friday

Indian indices noticed the largest single-day fall in 10 months, ending practically 4 p.c decrease on Friday following a large selloff within the world friends after a steep rise in benchmark US Treasury yields. On the home entrance, the markets noticed promoting throughout the board led by banks, metals, pharma and auto shares. The Sensex ended 1,939 factors decrease at 49,100 whereas the Nifty fell 568 factors to settle at 14,529. Each indices ended round 3 p.c decrease for the week. On the Nifty50 index, no inventory ended within the inexperienced whereas ONGC, Powergrid, Hero Moto, M&M, and JSW Metal led the losses.

Welcome to CNBC-TV18’s Market Stay Weblog

 

Good morning, readers! I’m Pranati Deva from the market’s desk of CNBC-TV18. Welcome to our market weblog, the place we offer rolling stay information protection of the newest occasions within the inventory market, enterprise and economic system. We may also get you instantaneous reactions and company from our stellar lineup of TV company and in-house editors, researchers, and reporters. If you’re an investor, right here is wishing you an ideal buying and selling day. Good luck!

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