Share Market updates: Sensex rises 231 points, Nifty ends above 17,200

Elevated crude oil prices amid the ongoing conflict between Russia and Ukraine once again empowered bears to walk freely on Dalal Street for the week ended March 25. 

As a result, the benchmark BSE Sensex retreated 501.73 points, or 0.87 per cent, to 57,362.20 during the past five trading sessions. Likewise, the 50-share NSE Nifty index also lost 134.05 points, or 0.78 per cent to 17,153.

Sensex and Nifty declined on Friday, extending their losses to a third day as index majors HDFC Bank, TCS and Infosys fell amid a mixed trend in global equities. Sensex closed 233.48 points lower to settle at 57,362.20. During the day, it crashed 495.44 points to 57,100.24.

What's next? Here are the latest updates!

3:30 pm: Market ends in green

Sensex rises 231 points to 57,593 and Nifty ends 69 points higher at 17,222.

3:20 pm: Sensex rises 265 points to 57,627 and Nifty gains 70 points to 17,226.

2:56 pm: Expert quote on  T+1 settlement

Anshul Arzare, Chief Business Officer, Wealth Broking, YES SECURITIES said, "Ideally, the brokerage industry should move to T-Day settlement rather than T+1 or T+2. With the advancement in technology and new-age digital platforms, it is possible to achieve this milestone. Retail investors looking to carry forward their margin positions for a longer duration already have the multilateral trading facility (MTF) option. Hence, why wait for T+2 or T+1 for funds settlement as brokerage houses can execute it seamlessly on the same day."

2:26 pm:  Sensex rises 98 points to 57,460 and Nifty surges 30 points to 17,183.

1:50 pm: Joyalukkas India files DRHP to raise Rs 2,300 crore via IPO

Kerala-based retail jeweller Joyalukkas India has filed its draft red herring prospectus (DRHP) with the markets regulator Securities and Exchange Board of India (SEBI) to raise Rs 2,300 crore through an initial public offering (IPO).

The issue has a face value of Rs 10 per equity share for the proposed share sale. The offer is being made through the book building process, wherein not more than 50 per cent of the offer shall be available for allocation to qualified institutional buyers (QIB), not less than 15 per cent shall be available for allocation to non-institutional bidders and not less than 35 per cent shall be available for allocation to retail individual bidders. READ MORE

1:23 pm: Sensex, Nifty in green 

Sensex rises 205 points to 57,567 and  Nifty gains 55 points to 17,208.

1:00 pm: Tata Elxsi stock hits all-time high

Tata Elxsi stock hit its all-time high today amid reports that MSCI was likely to include the firm in its standard index. Edelweiss Alternative & Quantitative Research in its latest report said MSCI could add five stocks and remove two stocks from its Standard Index. Tata Elxsi, Jindal Steel & Power, Voltas, Varun Beverages and Astral were likely to be added in the MSCI Standard Index.

12:48 pm: Top gainers and losers

ICICI Bank, IndusInd Bank, Bharti Airtel, IndusInd Bank, Maruti Suzuki are the top Sensex gainers, rising up to 1.35%. Dr Reddy's, HDFC, Nestle India, HCL  Tech were the top Sensex losers, falling up to 2.24%.

12:40 pm: Sensex falls 38 points to 57,323 and Nifty gains 1.50 points to 17,148.

12:20 pm: Bharti Airtel stock rises nearly 2%

Shares of Bharti Airtel gained 1.63% to Rs 709.25 today on reports the telecom operator would buy around 4.7 percent stake in Indus Towers from Euro Pacific Securities, an affiliate of Vodafone Group Plc, at Rs 187.88 per share. The total transaction cost stands at Rs 2,388.06 crore.

12:00 pm: Top gainers and losers

The benchmark indices were trading sharply lower in the afternoon trade. Sensex was trading over 475 points lower at 56,887.09 and Nifty plunged over 129 points to 17,023.25.

ITC and Bharti Airtel were the top gainers on Sensex, followed by Maruti Suzuki, ICICI Bank, Reliance Industries and IndusInd Bank. HDFC and Dr Reddy's were the top losers.

11:30 am: FPI outflow shoots past Rs 1 lakh crore mark in 2022

Overseas investors have pulled out a net Rs 1,14,855.97 crore from the Indian markets in the current year so far, amid heightened geopolitical tensions and inflation concerns.

Foreign portfolio investors have sold domestic equities worth Rs 48,261.65 crore so far this month, taking the year-to-date tally this year to a massive Rs 1,14,855.97 crore, according to depositories data.

The exodus of foreign investors was largely owing to inflationary pressures and deepening global macroeconomic conditions following the Russia-Ukraine war, experts said.

11:00 am: Fino Payments Bank stock climbs 4% in early trade, here's why

Shares of Fino Payments Bank rose 4 per cent in early trade after Reserve Bank of India (RBI) granted nod for referring customers to Finwizard Technology for mutual fund distribution, and 5paisa Capital for demat and trading services. Fino Payments Bank stock surged 3.97 per cent to Rs 286.8 against the previous close of Rs 275.85 on BSE.

The small cap share has lost 25.19 per cent since the beginning of this year. Fino Payments Bank shares trade higher than 20 day moving averages but lower than 5 day, 50 day, 100 day and 200 day moving averages.

A total of 6,255 shares of the firm changed hands, amounting to a turnover of Rs 17.47 lakh.

Market cap of the firm rose to Rs 2,307. 95 crore on the BSE. On November 12 last year, the stock hit a 52-week high of Rs 583.35 and touched a 52-week low of Rs 246 on February 24, 2022.

10:30 am: GAIL India stock surges 4% on share buyback plan

GAIL India stock surged nearly 4 per cent in early trade after the state-owned gas utility said its board would consider buyback of shares on March 31, 2022.  GAIL India shares opened with a gain of 2.95 per cent at Rs 152 against the previous close of Rs 147.65 on BSE.

The stock touched an intraday high of Rs 153, rising 3.62 per cent on BSE. GAIL (India) stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 15 per cent in one year and risen 17.38 per cent since the beginning of this year.

A total of 4.06 lakh shares of the firm changed hands, amounting to a turnover of Rs 6.15 crore. Market cap of the firm rose to Rs 67,338 crore on BSE.  

10:00 am: PVR, Inox shares on a roll

Shares of PVR zoomed 10 per cent to hit a new 52-week high of Rs 2,010.35 on BSE after the company on Sunday said its board of directors has approved a scheme of amalgamation of INOX Leisure Limited (transferor company) into and with the company. The board of INOX also approved the merger scheme.

Likewise, Inox Leisure Limited stock also jumped 20 per cent and hit an upper circuit to touch a new 52-week high of Rs 563.6. With a market capitalisation of more than Rs 6,600 crore, the shares stand higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

9:16 am: Market opening

The benchmark indices opened flat amid mixed global cues. Equity benchmark Sensex opened 60 points higher at 57,422 and Nifty was trading 28 points higher at 17,181.

Bharti Airtel and NTPC were the top gainers on Sensex, followed by IndusInd Bank, Nestle India, Titan and Maruti Suzuki.

HDFC Bank and TCS were the top losers.
 

9:00 am: Pre-market comment by Mohit Nigam, Head - PMS, Hem Securities 

The last expiry week of the FY22 is starting today, the markets are expected to stay muted for the week. Among the news that will be in the limelight for the week is the Ukrainian war and how the dialogues are done with Russia to get to an end. 

The fuel prices which kept unchanged for the long-time due to state elections and thereafter are seeing a small rise daily. The higher prices are expected to pinch the consumer pockets hard, who are already facing high inflation in many essential commodities.
 
Among the stock-specific news, PVR has approved the merger with Inox Leisure, as the industry was suffering due to the pandemic effects and hoping for better profitability in times ahead. 

MTAR technologies saw a significant change of hands on the last trading day, majorly shifting from some PE investors to the Mutual funds signalling further participation of indirect retail investors in the firm. 

Gold jewellery firm Joyalukkas operating over 85 stores in the country has filed an IPO of 2,300 crores to pay back the loans as well as to expand the network.
 
On the technical front, Nifty50 is expected to have support and resistance at 17,000 and 17,350 respectively for the bank Nifty the levels seems to be at 35,100 and 35,800 respectively.

8:40 am: Global Updates

The S&P 500 ended higher on Friday as financial shares rose after the benchmark Treasury yield jumped to its highest level in nearly three years. The Nasdaq ended lower, and tech and other big growth names mostly declined, but they finished off session lows following a late-session rally.

The Dow Jones Industrial Average rose 153.3 points, or 0.44%, to 34,861.24, the S&P 500 gained 22.9 points, or 0.51%, to 4,543.06 and the Nasdaq Composite dropped 22.54 points, or 0.16%, to 14,169.30.

Asian shares stalled and oil prices slid on Monday as coronavirus lockdown in Shanghai looked set to hit global activity, while throwing another wrench into supply chains that could add to inflationary pressures.

Early action on Monday was muted with MSCI's broadest index of Asia-Pacific shares outside Japan off 0.1%. The index is down 2.3% for the month but well above recent lows. Japan's Nikkei dipped 0.4%, but is still almost 6% firmer for the month as a sinking yen promised to boost exporter earnings.

8:35 am: FII and DII action

Foreign institutional investors (FIIs) sold shares worth Rs 1,507.37 crore on March 25, and domestic institutional investors (DIIs) bought shares worth Rs 1,373.02 crore, as per provisional data available on NSE.

8:30 am: SGX Nifty

The Indian equity market is likely to open flat today as SGX Nifty was trading 57 points higher at 17,274.

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

8:15 am: Market on Friday

Sensex and Nifty declined on Friday, extending their losses to a third day as index majors HDFC Bank, TCS and Infosys fell amid a mixed trend in global equities. Sensex closed 233.48 points lower to settle at 57,362.20. During the day, it crashed 495.44 points to 57,100.24.

Nifty lost 69.75 points or 0.40 per cent to end at 17,153.

Titan, Tech Mahindra, Maruti Suzuki India, Wipro, Nestle India, TCS, Larsen & Toubro, HCL Technologies, Tata Steel and HDFC Bank were among the top Sensex losers, falling up to 3.59%.

Dr Reddy's, Asian Paints, Reliance Industries Limited, Bharti Airtel, State Bank of India and Kotak Mahindra Bank were among the top Sensex gainers rising up to 0.77%.