Share Market LIVE: Sensex, Nifty likely to open flat today 
Share Market LIVE: Sensex, Nifty likely to open flat today Good afternoon!
The Indian equity market ended on a positive note today. Sensex rose 697 points to 57,989 and Nifty gained 198 points to 17,315. Earlier, Sensex opened 149 points lower at 57,142.60. However, Nifty opened flat at 17,120.40 , up 2.80 points.
Benchmark indices snapped two sessions of gaining streak on Monday as rising oil prices played spoilsport amid prolonged Russia-Ukraine war.
Sensex plunged 571.44 points to close at 57,292.49. During the day, it crashed 634.85 points or 1.09 per cent to 57,229.08.
Nifty declined 169.45 points or 0.98 per cent to end at 17,117.60.
What's next? Here are the latest updates!
3:37 pm: Market ends in green
Sensex rises 697 points to 57,989 and Nifty gains 198 points to 17,315.
3:26 pm: EXPERT QUOTE
Neeraj Chadawar, Head - Quantitative Equity Research, Axis Securities said, "It was a volatile day for the equity market and nervousness was seen in the morning session while investors' sentiments turned positive in the second half with more buying seen in IT stocks. US 10 year bond yields have crossed 2.3% after the more hawkish commentary from the US FED to control the inflation.
We believe that volatility will likely continue before we conclude the equilibrium. Investors should focus on the quality names where the earnings expectations are intact, and raw material inflation pressure is limited.
Adding to that, we are seeing inflation as a big theme. Value focused sectors are more inflation proxies and tend to do well in rising inflationary scenarios. We are likely to see a good amount of allocation happening in the next one to two years in value focused sectors."
3:02 pm: Market check
Sensex zooms 605 points to 57,898 and Nifty rises 178 points to 17,296.
2:40 pm: Cabinet hikes MSP for raw jute by Rs 250 per quintal for 2022-23 season
The Cabinet Committee on Economic Affairs on Tuesday approved the minimum support price (MSP) for raw jute for 2022-23 season, hiking the price by Rs 250 per quintal.
The decision was taken during a meeting chaired by Prime Minister Narendra Modi. The approval is based on the recommendations of the Commission for Agricultural Costs and Prices, the government said in a release.
"The MSP of raw jute (TDN3 equivalent to TD5 grade) has been fixed at Rs 4,750 per quintal for 2022-23 season with an increase of Rs 250 over the previous year. This would ensure a return of 60.53 per cent over all India weighted average cost of production," the release said.
2:20 pm: Sundaram Clayton announces interim dividend
Sundaram Clayton announces interim dividend of Rs 44 per share. Stock trading 1.10 percent lower at Rs 3,608 in the afternoon session against the previous close of Rs 3,648.50 on BSE.
1:50 pm: Fitch slashes India's growth forecast to 8.5% from 10.3%
Rating agency Fitch on Tuesday slashed India's growth forecast for the next fiscal to 8.5 per cent from 10.3 per cent, citing sharply high energy prices on account of the Russia-Ukraine war.
With the Omicron wave subsiding quickly, containment measures have been scaled back, setting the stage for a pick-up in GDP growth momentum in the June quarter this year, the agency said. It has revised upwards the GDP growth forecast for the current fiscal by 0.6 percentage points to 8.7 per cent.
"However, we have lowered our growth forecast for FY 2022-2023 to 8.5 per cent (-1.8 pp) on sharply higher energy prices," Fitch said while revising up its inflation forecasts.
In its Global economic Outlook-March 2022, Fitch said the post-COVID-19 pandemic recovery is being hit by a potentially huge global supply shock that will reduce growth and push up inflation. READ MORE
1:39 pm: Market check
Sensex rises 508 points to 57,800 and Nifty gains 143 points to 17,261.
1:15 pm: Tata Motors to increase prices of commercial vehicles from Apr 1
Tata Motors announced on Tuesday said that it will increase prices of its commercial vehicles from April 1. The increase in price will be in the range of 2-2.5 per cent, depending on the individual model and variant.
The company said that the increase in price comes due to increase in commodity prices. It added that it has initiated actions to absorb some of the increased costs but the overall prices will be passed on to the customers. READ MORE
12:44 pm: Market check
Sensex rises 119 points to 57,412 and Nifty gains 16 points to 17,134.
12:30 PM: Paytm shares hit new all-time low
Shares of Paytm have been on a downward trend for quite a while now. The stock is down nearly 72 per cent when compared to an all-time high of Rs 1961 it touched in November last year on the day of its debut.
The shares plunged over 4 per cent to hit an all-time low of Rs 541.15 on BSE. The market cap of the firm fell to Rs 35,915.27 crore.
12:15 pm: Vedanta stock hits 52-week high
Shares of Vedanta hit a fresh 52-week high today after Bank of America Securities upgraded the large cap stock to a 'buy' from 'neutral'. The brokerage also raised the target price to Rs 485 against its earlier target of Rs 365. The new target price translates into an upside of over 20 percent compared to the close of Rs 400 on March 21.
Vedanta stock zoomed 3.97% to Rs 415.95 against the previous close of Rs 400.05 on BSE today. The shares have gained 13.63% in the last four days. READ MORE
12: 10 pm: EXPERT CHECK
Likhita Chepa, Senior Research Analyst, Capitalvia Global Research said, "Despite encouraging signs from other Asian markets, Indian equity benchmarks continued to trade in the red in the late morning session. Traders became wary after Reserve Bank of India (RBI) Governor Shaktikanta Das stated that all COVID-related liquidity relief measures offered by the central bank had a sunset date and will be phased out over time. Meanwhile, a parliamentary panel has recommended that the government extends the time for MSME loans to be repaid under the Emergency Credit Line Guarantee Scheme (ECLGS). On the global front, the market has been trading in green."
11:45 am: Market check
Equity benchmark Sensex was trading 240 points lower at 57,057. Likewise, Nifty declined 75 points to 17,042.
HUL was the top loser on Sensex, declining over 4 per cent, followed by Nestle India, Axis Bank and SBI.
11:30 am: Equitas SFB stock rises over 8% on nod to merger with Equitas Holdings
Shares of Equitas Small Finance Bank (ESFBL) rose over 8 per cent in early trade after the boards of parent Equitas Holdings and its subsidiary ESFBL cleared their merger plan.
Financial services firm Motilal Oswal said that amalgamation should ultimately pave way for a universal bank license for Equitas Small Finance Bank and assigned a buy call to the firm with a target price of Rs 80.
11:15 am: Paytm shares hit all-time low
Shares of Paytm declined 3 per cent to hit an all-time low of Rs 550.5 on BSE.
Recently, global financial major Macquarie slashed its price target for the digital major citing regulatory headwinds including a falling probability of getting a banking licence.
Interestingly, this is the second time that the global major has slashed its target for Paytm. It initiated coverage on the stock in November last year with a target price of Rs 1,200, which was cut to Rs 700 last month and now has been further slashed to Rs 450.
“Recent developments significantly reduce the probability of getting a banking license to lend, in our view,” stated the Macquarie report while highlighting the recent Reserve Bank of India (RBI) action against the fintech firm's subsidiary, Paytm Payments Bank and the problem of Chinese ownership, which is in excess of 25 per cent.
11:00 am: Zomato in focus
Shares of Online food aggregator Zomato were in focus on Tuesday after the company said it will soon launch 'Zomato Instant' for delivery of food within 10 minutes. The company will pilot Zomato Instant with four stations in Gurugram from next month onwards.
In a blog, Zomato CEO Deepinder Goyal said customers are increasingly demanding "quicker answers to their needs", and that sorting restaurants by fastest delivery time is one of the most used features on the Zomato app.
"Nobody in the world has so far delivered hot and fresh food in under 10 minutes at scale, and we were eager to be the first to create this category, globally!" he said.
10:30 am: Trading in Sintex Industries stock suspended on BSE, NSE
Trading in shares of Sintex Industries was suspended on BSE and NSE with effect from Tuesday after approval of the insolvency resolution plan by the members of committee of creditors (CoC). Stock of Sintex Industries closed at Rs 7.82 on Monday, down 4.98 per cent against the previous close of Rs 8.23 on BSE. It opened at Rs 7.82 and was stuck at the same level through the session.
Total 9.10 lakh shares of the firm changed hands amounting to a turnover of Rs 71.18 lakh.
Market cap of Sintex Industries stood at Rs 468.59 crore on BSE.
"Members of the Exchange are hereby informed that the trading in equity shares of Sintex Industries Limited shall be suspended w.e.f. March 22, 2022, pursuant to approval of the resolution plan by the CoC members, under Section 30(4) of the Insolvency and Bankruptcy Code, 2016 (Code) read with Regulation 39(3) of the CIRP Regulations, as the successful resolution plan subject to approval of Honorable NCLT Ahmedabad, proposes that existing share capital of the Company shall be reduced to Zero and the Company will be delisted from the stock exchanges," the firm said in a communication to the bourses.
10:00 am: HUL in focus
According to some newspaper reports, Hindustan Unilever Ltd is in talks with Mahashian Di Hatti (MDH) to buy a majority stake in the maker of MDH Spices.
Shares of HUL were trading 4 per cent lower at Rs 1970 on BSE. The stock was the top loser on Sensex.
9:16 am: Market opening
Equity benchmark Sensex opened 149 points lower at 57,142.60. However, Nifty opened flat at 17,120.40 , up 2.80 points.
HUL was the top loser on Sensex, declining over 2 per cent, followed by UltraTech Cement, Asian Paints, Axis Bank and M&M.
Tata Steel and Wipro were the top gainer on Sensex.
8:40 am: Global Updates
US stocks declined broadly while oil prices and Treasury yields pushed higher on Monday as investors refocused on risks from conflict in Ukraine and the US Federal Reserve's actions on inflation.
The Dow Jones Industrial Average fell 201.94 points, or 0.58%, to 34,552.99, the S&P 500 lost 1.94 points, or 0.04%, to 4,461.18 and the Nasdaq Composite dropped 55.38 points, or 0.4%, to 13,838.46.
Shares in Asia-Pacific rose in Tuesday morning trade, though shares of China Eastern Airlines in Hong Kong fell after the carrier’s Boeing 737 passenger jet crashed in southern China on Monday.
Japanese stocks led gains regionally, with the Nikkei 225 jumping 1.56% while the Topix index climbed 1.31%. Mainland Chinese stocks were mixed, as the Shanghai composite sat fractionally higher while the Shenzhen component dipped 0.449%. South Korea’s Kospi advanced 0.7%. In Australia, the S&P/ASX 200 gained 1.17%.
8:35 am: FII and DII action
Foreign institutional investors (FIIs) bought shares worth Rs 2,962.12 crore on March 21, and domestic institutional investors (DIIs) sold shares worth Rs 252.91 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 26.6 points higher at 17,194.50.
The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
8:15 am: Market on Monday
Benchmark indices snapped two sessions of gaining streak on Monday as rising oil prices played spoilsport amid prolonged Russia-Ukraine war.
Sensex plunged 571.44 points to close at 57,292.49. During the day, it crashed 634.85 points or 1.09 per cent to 57,229.08.
Nifty declined 169.45 points or 0.98 per cent to end at 17,117.60.
Power Grid, Asian Paints, UltraTech Cement, Nestle, Hindustan Unilever Limited and HCL Technologies were among the top Sensex losers, falling up to 2.93%.
Sun Pharmaceutical, HDFC Bank, Maruti, Titan and NTPC were the only gainers, rising up to 0.41%.
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