Indian stock market news today | weekly market updates
Market news today || Global cues dragged down the Indian stock market today
Market News today 5 March: Indian stock markets opened in the red amid negative cues from other global markets. The sentiments were negative as both Foreign Institutional investors (FIIs) and Domestic Institutional Investors (DIIs) turned sellers on Thursday. In the second half, the key indices traded volatile and closed in the deep red today.
Other than the global weakness, the market sentiments were pessimistic with a private report stating that the Centre is likely to first privatize profit-making state-run companies, a shift from the previously announced strategy of focusing on loss-making units. The NITI Aayog, which is identifying public sector units (PSUs) for privatization, could put out the first list of companies in April.
Meanwhile, RBI will conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) on March 10. RBI will purchase four government securities of different maturity dates aggregating to Rs 20K crore and sell three securities aggregating to Rs 15k using the multiple price auction method.
On the global front, Asian markets were closed in the red as rising US treasury yields again rattled equity investors. The rising bond yields after Powell’s comments on the previous night have put European markets under pressure today. European markets are trading mixed at this moment. The US futures are trading marginally higher at 6 pm IST
Indian Stock Market Index today
In the end, Nifty fell 142.65 points or 0.94% and closed at 14938.10 while Sensex slipped 440.76 points or 0.86% and ended at 50405.32 levels. The Bank nifty on the spot price also declined by 574.35 points or 1.60% and ended at 35228.15 levels.
The nifty midcap and smallcap also closed lower today. The Nifty midcap index fell 530.20 points or 2.15% and closed at 24078.15 levels. The Nifty smallcap index was down by 131.50 points or 1.55% and ended at 8367.85 levels.
The top five gainers in the Nifty50 index were ONGC, GAIL, Maruti Suzuki, Kotak Mahindra, and Hero Motor Corp, The top five losers in the Nifty50 index were IndusInd Bank, Tata Motors, Wipro, UPL, Hindalco. The most active stocks for the day in the Nifty50 index were Tata Motors, SBI, and Reliance.
On the sectoral front, barring Oil & Gas sectors all other major sectors were closed in the red today. The sectors that dragged down the markets were Metals, Banking & Finance, Capital Goods, IT & Software, and Consumer Durables.
.
Indian stock market on a weekly closing
Indian stock markets on a weekly closing basis closed more than 2 percent higher even after the last two days correction. The markets started the week with an optimistic mode but rising bond yields and fear of inflation in the global markets have trimmed most of the weekly gains in the end.
Sensex on a weekly basis gained 1305.33 points or 2.66% and closed at 50405.33 levels while Nifty was up 398.95 points or 2.75% and ended at 14938.10 levels. The Bank Nifty on the spot price closed higher by 424.55 points or 1.22% on a weekly basis and finished at 35228.15 level.
The midcap and smallcap indexes outperformed the benchmark indices and closed higher on a weekly basis. The Nifty midcap index up by 809.65 points or 3.47% and closed at 24078.15 levels. The small-cap index closed higher by 318.15 points or 3.98% and ended at 8367.85 levels
F&O market updates today: Nifty & Bank Nifty futures
The Nifty futures share price today opened at 14970, it made a gap down opening of 136.25 points. It has touched an intraday high at 15098.10 and a day’s low at 14861.85
The Nifty futures share price has given a movement of 236.25 points. In the end, it fell 123.25 points or 0.82% and closed at 14983 levels.
The Bank Nifty futures share price opened at 35500 It made a gap down opening of 375.79 points today. It has touched an intraday high at 35660 and a day’s low at 34887.90
During the day, the Bank Nifty futures share price has given a movement of 772.1 points. In the end, it plunged 499.75 points or 1.39% and closed at the 35380 levels.
Conclusions:
A sharp correction was witnessed in the market today, the metals, banking, and financial service sector took the led in today’s fall. The weakness in global markets after yesterday’s Jerome Powell’s remark, rise in bond yields, and inflationary fear are the main reason behind the market fall.
You can follow the key factors that are going to impact the stock markets’ for next week’s reports tomorrow.
You may also like to read, Intraday Trading books to make money from Stock Markets
Stock market holidays 2021-Indian & Global markets
Happy weekend !!
Editor’s Desk
