Share Market updates: Sensex slips 145 points, Nifty ends below 17,350 in volatile trade

Good afternoon!

After a brutal sell-off on Monday, it turned out to be a terrific Tuesday on Dalal Street as equity benchmark Sensex zoomed over 1,700 points and the Nifty recaptured the 17,000 level mark.
 
The markets ended sharply higher after a report said that some troops in Russia's military districts adjacent to Ukraine are returning to base. Also, the rally was aided by gains in auto, information technology and banking stocks.

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

 3: 35 pm: Market ends in the red

 Sensex ends 145 points lower at 57,996 and Nifty falls 30 points to 17,322.

3:15 pm: Market check

Sensex slips 125 points to 58,016 and Nifty falls 38 points to 17,313.

3:00 pm: Expert quote on Vedant Fashions IPO

Santosh Meena, Head of Research, Swastika Investmart said, "Vedant Fashions has debuted the secondary market on a positive note despite poor subscription figures. The company has strong brand value with good fundamentals. However, valuation is a major concern. Therefore, investors should approach it from the long-term perspective where any dip of 15-20% from the current levels will be a good buying opportunity. Those who applied for listing gain should maintain a stop loss of Rs 890."

2:25 pm: Market update

Sensex rises 227 points to 58,369 and Nifty gains 75 points to 17,427.

2: 00 pm: VA Tech Wabag stock zooms 15%

Shares of VA Tech Wabag rallied over 15% today after global brokerage Nomura  raised its target price for the water treatment firm. Ace investor Rakesh Jhunjhunwala  owned 50 lakh shares or 8.04% stake in VA Tech Wabag on behalf of his wife Rekha Rakesh Jhunjhunwala at the end of December quarter of the current fiscal.

The stock opened with a gain of 4.89% at Rs 310 against the previous close of Rs 295.5 on BSE.

Later, the small cap stock touched an intraday high of Rs 340, rising 15.04% on BSE.

1:30 pm: Vedant Fashions stock extends gains

Shares of Vedant Fashions zoomed 14%  above the issue price to Rs 988.75 on their market debut.

 Earlier, shares of Vedant Fashions listed at a premium of 8.08% to their issue price on BSE today. Stock of Vedant Fashions Limited, the owner of ethnic wear brands such as 'Manyavar' and 'Mohey', made its market debut at Rs 936 on BSE.

1:15 pm: Market cap of BSE listed firms stood at  Rs 263.88 lakh crore in the afternoon session.

12: 46 pm: Market update

Sensex rises 158 points to 58,300 and Nifty gains 64 points to 17,419.The market turned green after reports said Russia has started withdrawing its troops to permanent bases. Russia's defence ministry published video on Wednesday that it said showed a column of tanks and military vehicles leaving annexed Crimea across a railway bridge after drills, adding that some troops would also return to their permanent bases, according to a Reuters report.

12:16 pm: Top gainers and losers

SBI, ICICI BANK, L&T, Ultratech Cement, NTPC and Sun Pharma are the top Sensex losers, falling up to 1.28% in afternoon trade. M&M, Bharti Airtel and HDFC are the top Sensex gainers, rising up to 1.98%. Of 30 Sensex stocks, 22 are trading in the red.

11:50 am: Burger King shares jump 2%

Shares of Burger King were trading 2 per cent higher at Rs 134.55 on BSE. The company has closed its qualified institutional placement issue and finalised the issue price at Rs 129.25 per share, a discount of 5 percent to the floor price of Rs 136.05 per share.

11:30 am: IDBI Bank shares rise 5% as govt to initiate stake sale within three weeks 

Shares of public sector lender IDBI Bank rose over 5% today as the government is likely to start the process of selling its stake in the lender within 3 weeks.

The share opened with a gain of 3.07%  at Rs 48.65 against the previous close of Rs 47.20 on BSE. IDBI Bank hit an intra day high of Rs 49.8, rising 5.51% on BSE.

Also read: EOI for strategic sale of IDBI likely within 3 weeks, say govt sources

11:20 am: Market check

Equity benchmark Sensex was trading 163 points lower to 57,978 and Nifty fell 28 points to 17,324.

SBI and L&T were the top losers on Sensex.

10:45 am: Technical and Derivatives Report by Mr. Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One Ltd

On the technical front, Nifty has filled the gap with its single-day-up move and reversed the significant indicators to turn on the bullish side. As far as levels are concerned, 17000-17100 holds to be the reluctant support zone and any dip could be utilized to go long, while, on the higher end, 17500 is expected to act as an immediate hurdle followed by the sturdy wall of 17650.

Looking at the momentum and constructive setup of the index wherein the bulls have recouped their strength, a strong tug of war could be seen from hereon. Although the global peers should be closely tracked by the momentum traders and aggressive bets should be avoided until the volatility subsides further.

10:15 am: Vedant Fashions stock makes tepid market debut, lists at 8% premium to issue price 

The shares of Vedant Fashions listed at a premium of 8.08% to their issue price on BSE today. The stock of Vedant Fashions Limited, the owner of ethnic wear brands such as 'Manyavar' and 'Mohey', made its market debut at Rs 936 on BSE.

The issue price of the IPO stood at Rs 866.

Market cap of Vedant Fashions rose to Rs 22,716 crore. Total 0.41 crore shares of the firm changed hands amounting to a turnover of Rs 3.83 crore on the BSE.

On NSE, the stock listed at Rs 935, up 7.97% to the IPO issue price. Market cap of the firm rose to Rs 11,587 crore.

Total 24.57 lakh shares of the firm changed hands amounting to a turnover of Rs 229.77 crore on the NSE. The IPO was held from February 4 to February 8.

9:45 am: Sensex trades flat

The benchmark indices were trading flat amid positive global cues. Sensex was up 11 points to 58,154 and Nifty was trading 14 points higher to 17,366.

9:20 am: Vedant Fashions in focus

The firm will make its debut on the BSE and NSE today. The stock is likely to list on a flat note against its issue price of Rs 866 per share.

9:16 am: Market opening

The benchmark indices opened higher on Wednesday amid positive global cues. Equity benchmark Sensex opened 237 points higher at 58,379.36 and Nifty jumped over 56 points to 17,408.45.

Bajaj twins were the top gainers on Sensex, followed by Titan, HDFC Bank, Maruti Suzuki and Power Grid.

UltraTech Cement was the only loser on Sensex.

8:50 am: Global updates

Wall Street ended sharply higher on Tuesday, as signs of de-escalating tensions along the Russia-Ukraine border sparked a risk-on session.

The Dow Jones Industrial Average rose 422.67 points, or 1.22%, to 34,988.84, the S&P 500 gained 69.4 points, or 1.58%, to 4,471.07 and the Nasdaq Composite added 348.84 points, or 2.53%, to 14,139.76.

In Asia, the Nikkei Weighted index was up 2.10 per cent and Hang Seng was trading 1.38 per cent higher. Shanghai Composite was up 0.69 per cent.

8:40 am: Rupee update

The rupee snapped its four-day losing streak to close 29 paise higher at 75.31 (provisional) against the U.S. dollar on February 15, tracking a recovery in domestic equities and weakness of the American currency overseas.

Traders said the surge in the rupee was restricted amid elevated crude oil prices and geopolitical tensions

8:35 am: FII and DII action

Foreign institutional investors (FIIs) sold shares worth Rs 2,298.76 crore on February 15, and domestic institutional investors (DIIs) bought shares worth Rs 4,411.60 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 down 12 points at 17,390.

Singapore Nifty (SGX Nifty) is the Indian Nifty index that is traded in On Tuesday, Sensex closed 187 points higher at 57,808 and Nifty rose 53 points to 17,266. In the last three sessions, Sensex lost 1,937 points and Nifty plunged 567 points.the Singapore Stock Exchange and is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Tuesday

The Indian equity market staged a strong rebound on Tuesday, erasing almost all losses from the previous session. Global market sentiment turned positive amid signs of easing tensions between Russia and Ukraine.

Sensex ended 1,736 points higher at 58,142 and Nifty rose 509 points to 17,352.

The  30-stock closed index logged its biggest single day rally in one year.

Bajaj Finance, SBI, Bajaj Finserv, L&T and Titan were the top Sensex gainers, rising up to 5.13%.

All Sensex stocks ended in the green. Market cap of BSE-listed firms rose to Rs 261.81 lakh crore on BSE.

Market breadth was positive with 2,056 stocks ending higher against 1,316 stocks closing lower on BSE. 92 shares were unchanged.

BSE mid cap and small cap indices rose 626 points and 542 points, respectively.