Share Market HIGHLIGHTS: Nifty falls 110 pts from day's high to end near 16,950, Sensex below 57,650; Dow Jones futures flat
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex continued to fall on Tuesday after a day's breather, amid mixed moves across global markets after a deal between First Citizens BancShares and Silicon Valley Bank (SVB) brought a sigh of relief to investors rocked by wild swings in banking shares though caution persisted about higher-for-longer interest rates. Losses in IT and auto stocks pulled both Sensex and Nifty lower though gains in financial shares arrested the fall. Among heavyweights, HDFC Bank, HDFC, ICICI Bank and Reliance were the biggest boosts for the Nifty 50 index, whereas Infosys, Bharti Airtel, Adani Enterprises and Adani Ports were the biggest drags.
The Indian financial market will remain shut on Thursday for the Ram Navami holiday.
Meanwhile, US-based Hindenberg targeted Twitter co-founder Jack Dorsey's Block Inc — a second major report since its accusations of stock manipulation and misuse of offshore tax havens by the Adani conglomerate rocked the Indian share market, even as Adani group denied any wrongdoing. The Adani group dismissed the Hindenburg report as baseless, and called the allegations "unsubstantiated speculations".
Catch HIGHLIGHTS of all the action in the Indian share market on March 28, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex continued to fall on Tuesday after a day's breather, amid mixed moves across global markets after a deal between First Citizens BancShares and Silicon Valley Bank (SVB) brought a sigh of relief to investors rocked by wild swings in banking shares though caution persisted about higher-for-longer interest rates. Losses in IT and auto stocks pulled both Sensex and Nifty lower though gains in financial shares arrested the fall. Among heavyweights, HDFC Bank, HDFC, ICICI Bank and Reliance were the biggest boosts for the Nifty 50 index, whereas Infosys, Bharti Airtel, Adani Enterprises and Adani Ports were the biggest drags.
The Indian financial market will remain shut on Thursday for the Ram Navami holiday.
Meanwhile, US-based Hindenberg targeted Twitter co-founder Jack Dorsey's Block Inc — a second major report since its accusations of stock manipulation and misuse of offshore tax havens by the Adani conglomerate rocked the Indian share market, even as Adani group denied any wrongdoing. The Adani group dismissed the Hindenburg report as baseless, and called the allegations "unsubstantiated speculations".
Catch HIGHLIGHTS of all the action in the Indian share market on March 28, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
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US stock market today | Dow Jones, S&P 500, Nasdaq Composite futures give up initial gains, indicate a flat start ahead on Wall Street
Here's where the three contracts — Dow Jones futures, S&P 500 futures and Nasdaq futures — stand ahead of the opening bell in the US stock market:
- Dow Jones: down 19 points — or 0.1 per cent — at 32,612
- S&P 500: down 6.3 points — or 0.2 per cent — at 4,001
- Nasdaq Composite: down 30.3 points — or 0.2 per cent — at 12,758.3
Read more on what to expect in US stock market today
US stock market today | Dow Jones, S&P 500, Nasdaq Composite futures give up initial gains, indicate a flat start ahead on Wall Street
Here's where the three contracts — Dow Jones futures, S&P 500 futures and Nasdaq futures — stand ahead of the opening bell in the US stock market:
- Dow Jones: down 19 points — or 0.1 per cent — at 32,612
- S&P 500: down 6.3 points — or 0.2 per cent — at 4,001
- Nasdaq Composite: down 30.3 points — or 0.2 per cent — at 12,758.3
Read more on what to expect in US stock market today
Share Market Update | Nifty ends 110 pts off day's high at 16,952, Sensex down 40 points for the day
The Nifty loses 34 points or 0.2 per cent of its value for the day to settle at 16,951.7, having broadly moved within the 16,900-17,100 band in intraday trade. The Sensex closes at 57,613.7, down 40.1 points or 0.1 per cent for the day, after gyrating in a range of more than 450 points — between 57,494.9 and 57,949.5 — around the flatline during the session.
Here's how the indices moved through the day:
Nifty 50
Sensex
17,061.75
Royal Orchid Hotels shares zoom after Nuvama initiates coverage with 'buy' rating, sees 92% upside
The stock of Royal Orchid — a hotels and resorts company — jump as much as 8.6 per cent to Rs 245.3 apiece on BSE trading in huge volumes.
As many as 29,000 Royal Orchid hands change hands on the bourse for the day, as against a daily average of 5,329 in the past two weeks, according to provisional exchange data.
The brokerage has set a target price of Rs 433 for the stock.
Image: BSE
Global Market LIVE | European stocks continue to recover amid ebbing fears about banking sector
European markets begin the day in the green, led by banking shares, after a buyout deal for the failed Silicon Valley Bank (SVB) raises hopes that the crisis in the sector could be contained. The pan-European Stoxx 600 index is up 0.8 point or 0.2 per cent at 445.5, having risen as much as 3.5 points or 0.8 per cent to 448.2 within the first 80-odd minutes of trade.
UBS shares jump 1.6 per cent after CEO Ralph Hamers says the bank saw its government-orchestrated takeover of Credit Suisse as a growth opportunity, according to a report by news agency Reuters citing an internal memo. Credit Suisse shares are up 1.7 per cent.
Here's where some of the key indices in the region stand:
- UK's FTSE 100: up 23.8 points or 0.3 per cent at 7,495.6
- France's CAC: up 22.8 points or 0.3 per cent at 7,101.1
- Germany's DAX: up 39.9 points or 0.3 per cent at 15,167.6
Share Market Today LIVE | Pharma stocks a mixed bag after drug regulator NPPA fixes prices of 25 formulations
The 20 constituents of the pharma index remain dividend into gainers and losers. Here's a look at the pharma basket:
| Stock | CMP | Change (%) |
| GLENMARK | 449 | 2.2 |
| NATCOPHARM | 554.6 | 1.1 |
| ABBOTINDIA | 21,623.5 | 0.9 |
| DRREDDY | 4,525 | 0.9 |
| ZYDUSLIFE | 485.7 | 0.8 |
| GLAXO | 1,275.6 | 0.6 |
| TORNTPHARM | 1,540.3 | 0.3 |
| IPCALAB | 792 | 0.2 |
| ALKEM | 3,235.6 | 0.2 |
| AUROPHARMA | 512.6 | 0.2 |
| CIPLA | 890.8 | 0.2 |
| SUNPHARMA | 984.1 | 0.1 |
| SANOFI | 5,626.2 | -0.4 |
| DIVISLAB | 2,808.9 | -0.7 |
| GLAND | 1,252.1 | -0.8 |
| PFIZER | 3,444.7 | -1.2 |
| BIOCON | 202.6 | -2 |
| LUPIN | 644.3 | -2.2 |
| LAURUSLABS | 290 | -2.6 |
| GRANULES | 270.7 | -4.6 |
Share Market Today LIVE | Nifty Bank holds on above flatline, near 39,500; banking index among few sectoral gauges in the green
Here's a look at where NSE's sectoral indices stand less than 20 minutes ahead of the closing bell:
| Index | CMP | Change (%) |
| NIFTY BANK | 39,518.5 | 0.2 |
| NIFTY FINANCIAL SERVICES | 17,651.3 | 0.2 |
| NIFTY PRIVATE BANK | 20,039.3 | 0.2 |
| NIFTY HEALTHCARE INDEX | 7,553.5 | -0.1 |
| NIFTY PHARMA | 11,863.4 | -0.2 |
| NIFTY FMCG | 45,039.8 | -0.3 |
| NIFTY CONSUMER DURABLES | 23,666.1 | -0.6 |
| NIFTY IT | 27,765.9 | -0.7 |
| NIFTY PSU BANK | 3,548.3 | -0.7 |
| NIFTY OIL & GAS | 7,018 | -0.7 |
| NIFTY AUTO | 11,921.9 | -0.9 |
| NIFTY METAL | 5,327.2 | -0.9 |
| NIFTY REALTY | 372.5 | -1.1 |
| NIFTY MEDIA | 1,648.5 | -1.7 |
Share Market Tips LIVE | Sell Indus Towers shares, says Sandeep Wagle
Sandeep Wagle of Sandeep Wagle Advisory Services suggests selling Indus Towers (INDUSTOWER) shares for a target of Rs 135 from a perspective of 1-2 days. He recommends a stop loss at Rs 147.
The stock has broken below key support at Rs 145, he tells Zee Business.
Indus Towers shares have lost almost 16 per cent of their value in the past one month, a period in which the Nifty 50 headline index has declined 2.2 per cent.
Image: BSE
Jio's new broadband plan at Rs 198; here's what ICICI Securities says
"Reliance Jio (RJio) has launched its most affordable fixed broadband plan starting at Rs 198 a month, with generous entertainment bundling at Rs 100, and Rs 200 a month additional payment. It appears RJio is likely to disrupt pay TV market which could fail to match the attractive proposition from RJio," says ICICI Securities.
"This will help RJio accelerate user base for FTTH services, and content bundling will aid adoption of converged digital ecosystem which can open new revenue opportunities... Bharti’s DTH business will likely face disruption from RJio’s new FTTH plan, but we do not expect much impact on its FTHH business," the brokerage adds.
Share Market LIVE | Paytm Wallet to be universally acceptable across UPI QRs, online merchants
Paytm shares are holding on to the green, up by Rs 3.4 or 0.5 per cent at Rs 624.7 apiece on BSE. Earlier in the day, the stock rose as much as 2.8 per cent to Rs 638.6 apiece on the bourse.
Image: BSE
Share Market LIVE | PNC Infra, Emami, Torrent Power rise most among 140-odd gainers in BSE 500 basket
On the contrary, Nykaa, Aarti Drugs and Brightcom Group are among the top laggards.
Image: BSE
Global Market Update | Stoxx Europe 600 futures up nearly one per cent, indicate a positive start in European markets today
The futures contract of the pan-European Stoxx 600 index is up almost three points, or 0.7 per cent, at 447.7 at this hour.
The European markets are set to open in about an hour from now, at 2 pm India time.
Global Market Update | Dow Jones futures hold on to the green, up over 100 points
Here's what the futures contracts of the three main Wall Street indices, the Dow Jones Industrial Average Index, the S&P 500 and the Nasdaq Composite, indicate:
- Dow Jones futures: up over 100 points or 0.3 per cent at 32,738
- S&P 500 futures: up over 10 points or 0.3 per cent at 4,018
- Nasdaq Composite: up 27.8 points or 0.2 points at 12,816.3
Nifty LIVE | Bajaj Finance, Sun Pharma, SBI Life weigh on headline index
Here's a look at the heatmap:
(Image: NSE)