Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed in negative territory on March 04. The NSE Nifty 50 closed nearly 50 points or 0.22% lower to settle at 22,356.30, while the BSE Sensex lost around 200 points or 0.26% to settle at 73,677.13. The broader indices closed in the red, with smallcap and midcap stocks losing the most. Bucking the trend, the Bank Nifty gained 124.90 points or 0.26% to settle at 47,581.00.
The NSE Nifty 50 closed 0.22% higher at 22,356.85, while the BSE Sensex closed 0.28% higher at 73,668.01.
Shares of PC Jewller fell 5% to hit the lower band of Rs 62.25 after the company got a show cause notice from the market’s regulator – SEBI. Also, the stock hit a 52-week-high of Rs 66.50 on March 05.
PC Jeweller received a Show Cause Notice from the Securities and Exchange Board of India on March 04, the company told exchanges today.
Sharing insights on the technical outlook of Nifty, Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, commented that the week started with a consolidative move, leading to the formation of a Doji candle on the daily chart. Despite this, the prevailing sentiment remains bullish. Anticipating a decisive break above 22,440 to enhance momentum, the target on the upside is set at 22,700. On the downside, a support level is established at 22,200, offering buying opportunities during any pullbacks towards this level.
Tata Motors, Bharti Airtel, M&M, SBI, and Bajaj Auto were the top gainers in the Nifty 50. While, Bajaj Finance, Infosys, LTIMindtree, Wipro, and Nestle India were the major losers in the Nifty 50 on March 05.
Shares of Bharti Airtel rose 2.6% to Rs 1,163.35. The stock was the top gainer in the Nifty 50. The stock hit its 52-week-high of Rs 1,200.65 on January 25 and has an upper band of Rs 1,246.85.
Platinum Industries IPO opened at Rs 225, a 32% premium to the issue price of Rs 171. The company opened its subscription to retail investors on February 27 and closed on February 29. The company’s stocks fetched a 51% premium in the grey market.
The NSE Nifty 50 was down 0.30% at 22,337.55. While the 30-stock BSE Sensex was quoting down 0.30% at 73,651.47.
Marico has received the Demand Order for disallowance of Input Tax Credit amounting to Rs. 37.3 lakh levy of interest of Rs. 33,40,027, and penalty amounting to Rs. 4,15,186 from Excise & Taxation Officer, Rohtak (Haryana), the company said in an exchange filing.
Tata Motors, SBI, Bajaj Auto, UPL, and NTPC were the top gainers in the Nifty 50. While TCS, Infosys, LTIMindtree, HCL Technologies, and Dr Reddy’s Laboratories were the major laggards in the Nifty 50 on March 05.
Shares of Tata Motors advanced 8% to touch a fresh all-time high of Rs 1,065.60 after the company’s board approved plan to demerge the commercial and passenger vehicle business and make them a separate listed entity. The company’s stock was the top gainer in the Nifty 50. The company has an upper band of Rs 1,085.90.
Tata Motors, UPL, M&M, Bajaj Auto, and Coal India were the top gainers in the Nifty 50. One the flip side, HCL Technologies, TCS, Infosys, ICICI Bank, and Axis Bank were the key losers in the Nifty 50 on March 05.
Shares of IIFL Finance fell 20% to hit the lower band of Rs 477.75 after the company was barred from sanctioning and disbursing gold loans by the RBI. The stock’s 52-week-low is Rs 408.05, which it touched on March 14, 2023.
The NSE Nifty 50 opens down by 0.15% at 22,371.25, while the BSE Sensex drops 0.14% to 73,767.42 in the opening trade.
On March 4, 2024, foreign institutional investors (FIIs) divested shares amounting to a net value of Rs 564.1 crore, while domestic institutional investors (DIIs) made net purchases of shares worth Rs 3,542.8 crore, as per provisional data from the NSE.
On Tuesday morning, most indices in the Asia-Pacific region are experiencing negative trading. The Asia Dow is currently down by 0.18%, with Japan’s Nikkei 225 showing a decline of 0.42%. Hong Kong’s Hang Seng index is trading lower by 2.30%, while the benchmark Chinese index, the Shanghai Composite, has a marginal increase of 0.05%.
As of Tuesday morning, WTI crude prices are at $78.63, showing a decrease of 0.14%, while Brent crude prices are trading at $82.70, reflecting a 0.12% decline.
The US Dollar Index (DXY), gauging the dollar’s value against a basket of six foreign currencies, experienced a marginal uptick of 0.02%, reaching 103.85.
On Monday, the relentless surge in U.S. stocks took a pause as traders looked forward to this week’s job data and awaited comments from Federal Reserve officials to gain insights into the interest-rate outlook, according to Bloomberg. The Nasdaq Composite, dominated by tech stocks, closed down 0.41% or 67.43 points at 16,207.51. The S&P 500 saw a decline of 0.12% or 6.13 points, finishing at 5,137.23, while the Dow Jones Industrial Average concluded the day lower by 0.25% or 97.55 points at 38,989.83.
