Nifty and Sensex:  Share Bazar closed marginally down today

 

Nifty and Sensex in Share Bazar: The indices Nifty and Sensex in Share Bazar opened in the green today after yesterday’s sharp fall. The sentiment of the Share Bazar got some encouragement after the RBI Governor made a statement that there is a space for further rate cuts despite upside risks to the inflation outlook. 

In the end, the spot market closed marginally down whereas the future closed marginally up. In a spot, the Nifty was down by 31.50 points and at 11797.90 while Sensex was declined by 82.03 points and at 40281.20. The Bank Nifty closed almost flat, it fell 22. 40 and at 30432.70.

In the mid and smallcap space, the Nifty midcap 100 index declined 64.20 points or 0.36% and at 17699.90. Whereas the Nifty smallcap 100 index fell 14.45 points or 0.24% and closed at 6026.10.

 

Nifty and Sensex stocks in Share Bazar today

The top five gainers in the Nifty50 index for the day are TCS, JSW Steel, Tata Steel, SBI, and Zee Entertainment. The losers in the Nifty50 index are Dr. Reddys Lab, Hindalco, GAIL, Eicher Motors, and Sun Pharma.

In the Nifty midcap space, the gainers are NBCC, Edelweiss and the losers are Indiabulls Venture, Future consumers. In Nifty smallcap space the gainers are India Cement, Deepak Nitrate and the losers are Linde India, Lemon Tree Hotel.

On sector-wise, the gainers for the day are Telecom, Real Estate, IT & Software, Electricals, and Containers Packaging. The sectors that closed in red for the day are Automobiles, Aviation, Infrastructure, Oil & Gas, and Retail.

Yesterday FIIs were the seller and DIIs were the buyers in the cash market. For today’s FIIs position you can check the link after 6 pm here

 

Share Bazar today: Nifty and Sensex Stocks in the news

HDFC Life, Info Edge, and Bandhan Bank to be included in the NSE F&O segment from March series. The total number of stocks in the F&O segment will be increased from 140 to 143 after the inclusion of these three stocks.

The Board of Hindustan Unilever has given the approval to form a new 100% subsidiary of the HUL with an authorized share capital of Rs 2000 crore. The share price of HULhas gained 0.83% and closed at Rs 2233.60 per share

A details observations issued for the Bangaluru unit of Biocan by the USFDA. It had conducted a pre-approval inspection (PAI) and GMP inspection of the API manufacturing facility in Bangaluru and issued a Form 483 with five observations. The share price of Biocon fell 3.31% and closed at Rs 303.85 per share.

The Board of Directors of Shilpa Medicare has approved the sale of its biological unit by way of slump sale to Shilpa Biologicals Pvt Ltd a wholly-owned subsidiary company. The share price of Shilpa Medicare has gained 5%  and closed at Rs 513.95% per share.

The coronavirus outbreak in china has impacted the production of TVS Motor Company. The share price of TVS Motor has fallen 0.50% and closed at Rs 436.40 per share.

The Competition Commission of India has given approval for the GMR groups to propose a 49% stake sale in its airport business to France’s Groupe ADP. The share price of GMR Infra has gained 0.39% and closed at Rs 25.55 per share.

 

Stocks in the news due to global brokerage rating

HSBC has upgraded the Spice Jet stock from hold to buy but cut the target price from Rs 115 to Rs 110. The share price of Spice Jet gained 1.27% and closed at Rs 87.70 per share.

The global brokerage house Credit Suisse has given outperform rating on Interglobe Aviation and cut the target price on the stock to Rs 1850 from Rs 1900. The share price of  InterGlobe has declined by 4.68% and close at Rs 1376.90 per share.

The global brokerage house UBS has maintained a buy rating on Coal India with a target price of Rs 270 per share. The share price of Coal India gained 0.14% and closed at Rs 175.10 per share.

 

Crude and Rupee updates

The Brent crude oil future price is trading flat today, it is currently trading at $55.70 per barrel. The Indian Rupee is trading at Rs 71.87 against the US dollar, almost trading near the yesterdays close.

 

Conclusions:

The Indian market was trading volatile in a narrow range today. In the end both Nifty and Sensex closed in red for the third consecutive day in a row. Being an expiry week a short-covering is expected in the share bazar maybe tomorrow or day after. Traders should trade cautiously in the market with strict stop loss.

Traders can also follow our Nifty and Bank Nifty technical levels and Nifty and Sensex Share Bazar updates on a daily basis.

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Happy Investing!!

Editor’s desk