Share Market HIGHLIGHTS: Nifty reclaims 17,050, Sensex ends F&O expiry day up 346 pts; market to remain shut on Thursday for Ram Navami holiday
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex rose on Wednesday — the last day of the March derivative (futures and options) series — amid broad-based gains, with financial, IT and FMCG shares being the biggest contributors. The 50-scrip index briefly traded below the psychologically-important 17,000 level but managed to finish the day at 17,080.7. Globally, a rescue deal for Silicon Valley Bank (SVB) brought a sigh of relief to investors, rocked by wild swings in banking shares, but caution persisted about higher-for-longer interest rates amid fears of at least a mild recession.
Here are some of the headlines in focus in the Indian share market:
- Vedanta shares rise after company announces mega dividend
- Crude oil hits two-week highs on Kurdish supply risks, banking relief; Brent close to $79 per barrel
- Rupee inches lower to 82.25 vs US dollar
- MCX gold futures near Rs 58,850; Motilal Oswal Commodities' Navneet Damani recommends 'buy' with target price of Rs 59,150
The Indian financial market will remain shut on Thursday for the Ram Navami holiday, and resume trading the next day.
Catch minute-by-minute updates of all the action in the Indian share market on March 29, 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 rose on Wednesday — the last day of the March derivative (futures and options) series — amid broad-based gains, with financial, IT and FMCG shares being the biggest contributors. The 50-scrip index briefly traded below the psychologically-important 17,000 level but managed to finish the day at 17,080.7. Globally, a rescue deal for Silicon Valley Bank (SVB) brought a sigh of relief to investors, rocked by wild swings in banking shares, but caution persisted about higher-for-longer interest rates amid fears of at least a mild recession.
Here are some of the headlines in focus in the Indian share market:
- Vedanta shares rise after company announces mega dividend
- Crude oil hits two-week highs on Kurdish supply risks, banking relief; Brent close to $79 per barrel
- Rupee inches lower to 82.25 vs US dollar
- MCX gold futures near Rs 58,850; Motilal Oswal Commodities' Navneet Damani recommends 'buy' with target price of Rs 59,150
The Indian financial market will remain shut on Thursday for the Ram Navami holiday, and resume trading the next day.
Catch minute-by-minute updates of all the action in the Indian share market on March 29, 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:
Latest Updates
F&O Series Update | Nifty 50 sheds 431 pts in March series, Nifty Bank loses 91 pts
The Nifty finishes the monthly derivatives series with a loss of 430.6 points — or 2.5 per cent of its value.
The banking index sheds 91.4 points (0.2 per cent) during this period.
Here's how the gauges moved through the series:
Nifty 50
Nifty Bank
Read more on how the Indian share market fared in the March F&O series
Share Market Update | Nifty 50 gains 129 pts to end at 17,081, Sensex up 346 pts
The Nifty50 finishes the day with a gain of 129 points or 0.8 per cent at 17,080.7. The Sensex rises 346.4 points or 0.6 per cent to settle at 57,960.1.
Here's how the indices moved through the day:
Nifty 50
Sensex
Global Market Update | Dow Jones, S&P 500, Nasdaq futures point to a higher start ahead in US stock market today
The futures of the three main Wall Street indices — the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite — stand firmly in the green at this hour, suggesting a positive start ahead in the US at 7 pm India time today.
Here's a look at the futures contracts of the three gauges:
- Dow Jones: up 249 points or 0.8 per cent at 32,837
- S&P 500: up 36.5 points or 0.9 per cent at 4,038
- Nasdaq Composite: up 120 points or 0.9 per cent at 12,852.5
Anil Singhvi explains how to find the best stop loss for your target
Zee Business Managing Editor Anil Singhvi suggests that the stop loss that an investor or trader chooses should always be customised.
Discussing the way to ensure a perfect stop loss for a position in the market, Singhvi says: "There is very less time when you don't put a stop loss as per your position because everyone’s position is at a different level; they have different levels of risk, and different levels of profit."
Read more on what Anil Singhvi says
Share Market Tips LIVE | Buy ABB shares, says Himanshu Gupta
Himanshu Gupta of Globe Capital Markets recommends buying ABB India shares. He believes a rally in the market can take the stock to an all-time high, which is possible as soon as Friday.
He has set targets of Rs 3,470 and Rs 3,520 for the stock with a stop loss below Rs 3,380.
ABB shares have grown 67 per cent in value over the past one year, a period in which the Nifty50 index has declined about two per cent.
No charges for bank account-to-bank account-based UPI payments: NPCI clarifies on PPI fees
The National Payments Corporation of India (NPCI) says the interchange charges introduced recently are only applicable to Prepaid Payment Instrument (PPI) merchant transactions, and there are no charges applicable to customers as well as bank account-to-bank account-based UPI payments.
"Traditionally, the most preferred method of UPI transactions is linking the Bank account in any UPI-enabled app for making payments which contributes over 99.9% of total UPI transactions. These Bank account-to-account transactions continue to remain free for Customers and Merchants," the NPCI says.
Nifty LIVE | Headline index turns flat as Reliance, Bharti Airtel, Infosys, Tata Steel weigh on market
Stocks such as Reliance, Bharti Airtel, Infosys, Tata Steel, Asian Paints and Larsen & Toubro are posing maximum pressure on the Nifty 50 index.
Here's a look at the heatmap, by weight:
Image: Niftyindices.com
How To Trade Gold Now | Buy gold at Rs 58,800 for target of Rs 59,150, says Navneet Damani
Navneet Damani of Motilal Oswal Commodities tells Zee Business viewers that the retracement in gold after the recent rally may well be used. He recommends buying gold around Rs 58,800 for a target of Rs 59,150 with a stop loss at Rs 58,600.
Gold Rate Forecast | Buy gold on dips to Rs 58,500-58,600 per 10 grams, says Kunal Shah
Kunal Shah of Nirmal Bang tells Zee Business that some profit taking has happened in gold owing to easing of concerns about the US banking system but the fundamentals of the yellow metal remain intact. One should use this opportunity to buy gold on declines to Rs 58,500-58,600 per 10 grams, he says.
The gold rate might pick up in a week or so, he says. "First buy (on declines), then sell," he suggests.
Gold Rate LIVE | MCX futures decline, near Rs 58,850 per 10 grams
The near-month futures contract of the yellow metal on MCX is quoting at Rs 58,854 per 10 grams at this hour, down by Rs 188 or 0.3 per cent from its previous close. Earlier in the day, MCX gold futures (April 5) declined by as much as 0.5 per cent to Rs 58,771 per 10 grams.
Image: MCX
Global Market Update | Brent crude hits two-week high, near $79 a barrel
Brent crude futures settled at $78.65 a barrel on Tuesday, up by 53 cents or 0.7 per cent on the day. West Texas Intermediate (WTI) US crude settled at $73.2 a barrel, up by 39 cents or 0.5 per cent. That was a day after the rates rallied by more than $3 each after Iraq was forced to halt exports of about 4,50,000 barrels per day (bpd) from its northern Kurdistan region through Turkey after an arbitration decision confirmed Baghdad's consent was needed to ship the oil.
Share Market LIVE: BSE Sensex holds on to green
Sensex is up 284.2 points or 0.5 per cent to 57,887.9 at 10:43 AM backed by broad-based buying in HDFC twins, ICICI Bank, Larsen & Toubro, Bajaj Finance, Bajaj Finance and others.
Share Market Today LIVE: NBCC, ITI, IRB Infra rise most among 395 gainers in BSE 500 basket
On the contrary, CSB Bank, Emami Ltd. and EPL Ltd. are among the top laggards.
Source: BSE
Share Market Today LIVE | Vedanta shares hold on firmly to the green after Anil Agarwal-led mining major announces 2,050% dividend
Mining giant Vedanta's shares rise, trading in high volumes, after the company announces a mega dividend for its shareholders.
On Tuesday, post-market hours, Vedanta announced a dividend of Rs 20.5 per share of face value Re 1 per share — translating to a dividend payout of 2,050 per cent.
Vedanta shares gain by Rs 5.3 or 1.9 per cent to Rs 279.5 at the strongest level of the day.
Image: BSE
As many as 5.7 lakh Vedanta shares have changed hands so far today as against a daily average of 6.9 lakh in the past two weeks, according to provisional exchange data.
Share Market Tips LIVE | Buy Radico Khaitan, says Chandan Taparia
In conversation with Zee Business Managing Editor Anil Singhvi,Chandan Taparia of Motilal Oswal Financial Services suggests Radico Khaitan as his stock pick from the midcap space from a perspective of 9-12 months.
He has a target of Rs 1,300 and recommends a stop loss at 1,150.