Share Market HIGHLIGHTS: Sensex ends 671 pts lower, Nifty sinks below 17,450 as D-Street extends losses to 2nd day amid global sell-off
Share Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 extended losses to a second straight day on Friday after a gap-down start, amid negative global cues after a bank stocks-led riot on Wall Street following the launch of a share sale by US-based tech lender SVB Financial to shore up its balance sheet. Fears about higher-for-longer benchmark interest rates resurfaced among investors ahead of key jobs data from the US due later in the day.
Zee Business Managing Editor Anil Singhvi said the Indian stock market would get worse hereon if the Nifty50 gives up a key base at 17,300. On the other hand, the situation will improve if the 50-scrip index takes out resistance at 17,800. For the Nifty Bank, he sees support emerging in the 40,750-40,875 area, and a strong buy zone in the 40,525-40,700 band. Read more on Anil Singhvi's strategy today
Catch highlights of the March 10 session on Dalal Street, market commentary and analysis only on Zeebiz.com's blog, besides the views of Zee Business Managing Editor Anil Singhvi and other experts, recommendations on stocks to buy and trade strategies:
Share Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 extended losses to a second straight day on Friday after a gap-down start, amid negative global cues after a bank stocks-led riot on Wall Street following the launch of a share sale by US-based tech lender SVB Financial to shore up its balance sheet. Fears about higher-for-longer benchmark interest rates resurfaced among investors ahead of key jobs data from the US due later in the day.
Zee Business Managing Editor Anil Singhvi said the Indian stock market would get worse hereon if the Nifty50 gives up a key base at 17,300. On the other hand, the situation will improve if the 50-scrip index takes out resistance at 17,800. For the Nifty Bank, he sees support emerging in the 40,750-40,875 area, and a strong buy zone in the 40,525-40,700 band. Read more on Anil Singhvi's strategy today
Catch highlights of the March 10 session on Dalal Street, market commentary and analysis only on Zeebiz.com's blog, besides the views of Zee Business Managing Editor Anil Singhvi and other experts, recommendations on stocks to buy and trade strategies:
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Share Market Update | Sensex sheds 671 pts to close below 59,150, Nifty50 gives up 17,450 as headline indices extend losses to second straight day
Both headline indices finish the day with losses of around one per cent. The Sensex loses 671.2 points to end at 59,135.1 and the Nifty50 settles at 17,412.9, down 176.7 points from its previous close.
Here's how the main gauges moved through the day:
Sensex
Nifty50
Bharti Airtel shares buck trend as market bleeds; Jefferies double-upgrades telecom stock to 'buy'
Bharti Airtel shares swing between gains and losses in a narrow range on Friday, but manage to fare better than the headline indices in a market-wide sell-off, after Jefferies gives a double upgrade the private sector telecom company and raised its target price by Rs 50. The Bharti Airtel stock makes it to the green intermittently amid volatile trade, moving within a range of Rs 11 around the flatline.
The brokerage now has a 'buy' call on Bharti Airtel, as against 'hold' earlier, with a target price of Rs 900 — which implies upside potential of more than 16 per cent from its previous close.
Jefferies peggs 13 per cent growth in Bharti Airtel's average revenue per user (ARPU) over the three-year period ending March 2025, driven by:
- market share gains in 4G
- hikes in voice tariffs
- improving tariff outlook owing to government support for rival Vodafone Idea
Share Market Tips LIVE | Swati Hotkar recommends buying Varroc Engineering, Prism Johnson shares
Swati Hotkar of Nirmal Bang Securities shares two trade calls with Zee Business viewers:
- She suggests buying Prism Johnson shares for a target price of Rs 120 with a stop loss at Rs 103
- Hotkar also has a 'buy' call on Varroc Engineering for a target of Rs 285 with a stop loss at Rs 255
Share Market Tips LIVE | Swati Hotkar recommends buying Varroc Engineering, Prism Johnson shares
Swati Hotkar of Nirmal Bang Securities shares two trade calls with Zee Business viewers:
- She suggests buying Prism Johnson shares for a target price of Rs 120 with a stop loss at Rs 103
- Hotkar also has a 'buy' call on Varroc Engineering for a target of Rs 285 with a stop loss at Rs 255
Hindustan Aeronautics Ltd (HAL) shares fail to make it to the green after dividend announcement
Friday's dividend announcement is the company's third in the current financial year. Earlier, the company had declared a dividend of Rs 20 in November and Rs 10 in August.
The stock is down by Rs 12.4 or 0.4 per cent at Rs 2,850.1 apiece on BSE.
A record date of March 20 is set for the HAL dividend payout.
HAL Dividend News | Hindustan Aeronautics announces Rs 20 per share dividend
The aerospace and defence company's board gives nod to a dividend of Rs 20 per share. HAL shares fail to make it to the green after the dividend announcement.
FIIs have brought in over Rs 16,400 crore to Indian shares so far in March 2023
As of Thursday, net purchases of Indian shares stand at Rs 16,423.3 crore by FIIs so far this month, and Rs 5,579.2 crore by DIIs, according to provisional exchange data. In February, FIIs sold shares worth net Rs 11,090.6 crore though DIIs made net purchases of Rs 19,239.3 crore.
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*All figures in crore rupees
Share Market Tips LIVE | Buy Bata India, Cipla shares, says Mehul Kothari
Mehul Kothari of Anand Rathi Shares & Stock Brokers has two trade recommendations for Zee Business viewers:
- Buy Bata India shares at Rs 1,410 for a target of Rs 1,520 with a stop loss at Rs 1,350
- Buy Cipla near Rs 880 for a target of Rs 920 with a stop loss at Rs 860
Share Market LIVE Update | No respite for the bulls; Sensex plunges over 750 pts, Nifty50 refuses to make it back to 17,400
Here's how the indices have moved so far today:
Sensex
Nifty50
Share Market Tips LIVE | Buy Coal India futures, sell Bank of Baroda futures, says Nirav Chheda
Nirav Chheda of Nirmal Bang Securities shares two stock futures recommendations with Zee Business viewers:
- Sell Bank of Baroda futures with a for a target of Rs 157 with a stop loss at Rs 172
- Buy Coal India futures for a target of Rs 238 with a stop loss at Rs 220
Nifty Bank LIVE | All 12 stocks in the red; Bank of Baroda, HDFC Bank, Axis Bank, PNB, IDFC First, SBI worst hit
Here's a look at how each one of these stocks is faring at this hour:
| Stock | Change (%) | CMP |
| Bank of Baroda (BANKBARODA) | -2.5 | 167.3 |
| HDFC Bank (HDFCBANK) | -2.2 | 1,594.6 |
| Axis Bank (AXISBANK) | -2.1 | 849.8 |
| Punjab National Bank (PNB) | -2.1 | 49.9 |
| IDFC First Bank (IDFCFIRSTB) | -1.8 | 56.2 |
| State Bank of India (SBIN) | -1.8 | 549 |
| Federal Bank (FEDERALBNK) | -1.4 | 132.4 |
| ICICI Bank (ICICIBANK) | -1.3 | 844.6 |
| IndusInd Bank (INDUSINDBK) | -1.3 | 1,155 |
| Kotak Mahindra Bank (KOTAKBANK) | -0.9 | 1,701.4 |
| AU Small Finance Bank (AUBANK) | -0.8 | 618.8 |
| Bandhan Bank (BANDHANBNK) | -0.7 | 225.3 |
Nifty Bank LIVE | HDFC Bank, ICICI Bank, Axis Bank, SBI biggest drags on banking index
The Nifty Bank — whose 12 constituents include SBI, HDFC Bank, ICICI Bank, Axis Bank and Bank of Baroda — is down 733.8 points or 1.8 per cent at 40,523, having slumped as much as 866 points or 2.1 per cent earlier in the day.
Here's a look at the heatmap of the 12-scrip index at this hour:
Share Market Tips LIVE | Sell Nifty Bank futures, target 40,000, says Nirav Chheda
Nirav Chheda of Nirmal Bang Securities has a Nifty Bank trade recommendation for Zee Business viewers.
He suggests going short on Nifty Bank futures for a target of 40,000 with a stop loss at 40,950.
Share Market LIVE Today | Aptus Value, MRPL, KSB, Swan Energy shrug off broad-based weakness on Dalal Street, rise most among 120 gainers in BSE 500 universe
On the other hand, Equitas Small Finance Bank, Shilpa Medicare, Canara Bank and RBL Bank are among the top laggards in the 50-scrip basket.
Here's a look at stocks rising and falling the most in the broadest index on the bourse today:
