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Share Market updates: Sensex falls 768 points, Nifty ends below 16,250; Titan, Asian Paints, Maruti top losers

Share Market updates: Sensex falls 768 points, Nifty ends below 16,250; Titan, Asian Paints, Maruti top losers

Sensex and Nifty opened lower on Friday amid negative global cues after Russia intensified attacks on Ukraine.

On Thursday, UltraTech Cement was the top Sensex loser, falling 6.47 per cent, followed by Dr Reddy's, Asian Paints, and Maruti Suzuki. On Thursday, UltraTech Cement was the top Sensex loser, falling 6.47 per cent, followed by Dr Reddy's, Asian Paints, and Maruti Suzuki.

Good morning!

On Thursday, Indian equity market ended lower in volatile trade, led by losses in banking, auto and consumer durables stocks.

Sensex closed 366 points or 0.66% lower at 55,102 and Nifty plunged 107 points or 0.65 per cent to 16,498.

What's next? Here's a look at the latest updates of the market today!

3:30 pm: Market ends in the red

Sensex falls 768 points to 54,333 and Nifty slips 252 points to 16,245.

2: 56 pm: Market becomes highly volatile

Sensex falls 626 points to 54,475 and Nifty slips 210 points to 16,287.

2:45 pm: Vedanta stock slips over 5%

Vedanta shares fall over 5% after French financial services firm Societe Generale sold shares in the company via open market transactions.

Vedanta stock slipped 5.54% to Rs 373.40 against the previous close of Rs 395.85 on BSE.

Societe Generale on March 3 offloaded 2.24 crore shares amounting to 0.6 percent of metal major Vedanta at an average price of Rs 391.74 for nearly Rs 880 crore.

 2:30 pm: Asian markets end in the red

Tokyo's Nikkei 225 index fell 2.7% to 25,881.32 while the Hang Seng in Hong Kong slipped 2.7% to 21,866.81. In Seoul, the Kospi declined 1.2% to 2,714.80. The Shanghai Composite index lost 0.3% to 3,470.47.

Australia's S&P/ASX 200 shed 0.9% to 7,088.60.

1:49 pm: Expert take on NALCO stock

AR Ramachandran, Co-founder & Trainer, Tips2Trades said,"Strong Q3FY22 earnings coupled with high commodity prices due to the Russia-Ukraine crisis have led to a decent rally in NALCO. Technically, 121 remains strong support & a stop loss for buyers. A sustained close above Rs 130 should lead to higher targets of Rs 140 & possibly Rs 154."

 

1:32 PM: Indices pare losses

Sensex falls 161 points to 54,941 and Nifty slips 44 points to 16,453.

1:00 pm: LIC's mega IPO delayed to FY23?

The much-awaited initial public offer (IPO) of Life Insurance Corporation of India (LIC) is likely to be delayed into the next financial year due to high market volatility arising out of Russia's attack on Ukraine. The biggest IPO of Indian bourses was set to be launched in March 2022.

12:40 pm: Market check

Sensex loses 539 points to 54,563 and Nifty down 165 points to 16,333.

12:00 pm: Airtel, HUL, Hero Moto, HDFC among Nifty stocks hitting new 52-week lows.

11:45 am: Rupee falls past 76 amid relentless rise in oil

The rupee fell past the psychologically important 76/$1 mark on Friday. The currency was last trading at 76.0270/$1 versus 75.9100/$1 at previous close. The Indian currency moved in a band of 75.9400-76.0500/$1 so far in the day.

11:25 am: Banking, consumer durables and auto stocks top sectoral losers on BSE.

11:00 am: Feb auto retail down 9.21% on-year; no recovery for 2-wheelers: FADA

The Federation of Automobile Dealers Associations (FADA) stated on Friday that total vehicle retail for the month of February was down 9.21 per cent. It was down 20.65% when compared to February 2020. On a year-on-year basis, three-wheelers and commercial vehicle retail were up by 16.64 per cent and 7.41 per cent, while two-wheeler, passenger vehicle and tractor retail fell by 10.67 per cent, 7.84 per cent and 18.87 per cent respectively.

10:50 am: Investors lose Rs 4.9 lakh crore

Investors lost Rs 4.9 lakh crore on BSE today dragged by a fall in global markets after Russia attacked a nuclear plant in Ukraine. Market cap of BSE-listed firms fell by Rs 4.9 lakh crore after investor wealth declined to Rs 246.15 lakh crore against Rs 251.05 lakh crore in the previous session. Sensex tanked 1,171 points to 53,931 and Nifty slumped 343 points to 16,154 in today's trade.

10:37 am: Market check

Sensex slips 1128 points to 53,973 and Nifty lost 336 points to 16,162.

10:35 pm: Expert quote

"The war and surge in crude have completely transformed the economic scenario and market expectations. If the war prolongs global economic growth may be impacted," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

10:30 am: Rupee falls 11 paise to 76.05 against US dollar in early trade.

10:19 am: Wockhardt share rises over 2% in early trade

Shares of Wockhardt rose 2.01% to Rs 348 against the previous close of Rs 341 on BSE. The share gained in an other wise weak market after the pharmaceuticals firm fixed the issue price at Rs 225 per share for its Rs 748-crore rights issue. The capital raising committee of the company's board decided to approve the issue of 3.33 crore fully paid-up equity shares, aggregating to a little over Rs 748 crore.

9: 46 am : BSE Midcap slips 285 points to 22,880 and and BSE small cap index falls 204 points to 26,520.

9:30 am: Top gainers

Tata Steel, NTPC only  Sensex gainers , rising up to 1.22% on Friday.

9: 28 am: Nifty outlook by Geojit Financial

While moderating the upside views yesterday, we were hesitant on stretching the downside prospects until 16340 gave away. Though Nifty closed not too far from equilibrium level of 16580, the upside bias was finding difficult to prevail over, unlike the previous day. Meanwhile, several of the oscillators are already near the lower bound, but this situation is not dissimilar to the conditions that prevailed during the massive breakdown in 2020. With that in perspective, the bounce off 16200 to 16814 and the consolidation thereafter during the last week of February would have to be seen as a bearish continuation pattern, that sets up a downside target of 15750-15200. We will look for a break above 16740 or a close above 16600 for entertaining upside prospects, and until then, brace for a plunge.

9: 23 am:  Sensex slips 715 points to 54,387 and Nifty loses 224 points to 16,273.

9: 15 am: Market opens in the red

Sensex opens 449 pts lower at 54,653 and Nifty slips 159 points to 16,339.

8:40 am: Preopening comment

Mohit Nigam, Head - PMS, Hem Securities for Friday March 4 Benchmark indices are expected to make a gap down opening as suggested by trends on SGX Nifty. Both European and US markets closed in red as no middle ground can be found to stop the tussle between Russia and Ukraine. The news of Russian attack on Europe's biggest nuclear power plant located in Ukraine has sent strong negative signals to the already jittery market. Investor's sentiments are also weak due to rising prices of crude oil and natural gas. The corporate earnings can take a hit due to this as companies are already facing the pressure of rising input cost.

Short term investors and traders should remain cautious as markets are showing extreme volatility. Long term investors should not be worried as these significant dips present a good opportunity to accumulate quality stocks.

On the technical front, the key resistance level for nifty50 is 16650 followed by 16800 and on the downside 16360 followed by 16200 can act as strong support. Key resistance and support levels for bank nifty are 35500 and 34500 respectively.

8:35 am: FII and DII action

Foreign institutional investors (FIIs) sold shares worth Rs 6644 crore on March 3, and domestic institutional investors (DIIs) bought shares worth Rs 4799 crore, as per provisional data available on NSE.

8:30 am: SGX Nifty

The Indian equity market is likely to open lower as SGX Nifty was trading 242 points lower at 16,269.

The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Thursday

Indian equity market ended lower in volatile trade, led by losses in banking, auto and consumer durables stocks. Sensex closed 366 points or 0.66% lower at 55,102 and Nifty plunged 107 points or 0.65 per cent to 16,498.

UltraTech Cement was the top Sensex loser, falling 6.47 per cent, followed by Dr Reddy's, Asian Paints, and Maruti Suzuki. PowerGrid, Wipro, Tech Mahindra, HCL Tech and ITC were among the top Sensex gainers, rising up to 3.34 per cent.

BSE mid-cap and small-cap indices lost 150 points and gained 92 points, respectively.

On the sectoral front, banking, auto and consumer durables shares led the losses.

BSE bankex fell 521 points to 40,176 and BSE auto plunged 536 points to 23,373. BSE consumer durables index lost 522 points to 42,328.

The market breadth was positive with 2,035 shares ending higher against 1286 stocks in the red. 119 shares were unchanged.

Published on: Mar 04, 2022, 8:32 AM IST
Posted by: Aseem Thapliyal, Mar 04, 2022, 8:24 AM IST