Stock Market LIVE Updates: Market Ends With Minor Gains; Nifty Holds Above 22,400, Sensex Near 73,900

The Sensex concluded with a modest gain of 49.90 points or 0.07%, settling at 73,856.05, while the Nifty posted a rise of 27.20 points or 0.12%, closing at 22,405.60. The market dynamics saw 1,198 shares witnessing an uptick, 2,214 experiencing a decline, and 110 remaining unchanged.

Across various sectors, banking, energy, infrastructure, and pharmaceuticals observed positive movements, while information technology, metals, FMCG, and the automobile sector faced downward pressure.

In terms of individual stocks, NTPC, HDFC Life, and Power Grid emerged as the top gainers, whereas JSW Steel, Eicher Motors, and M&M encountered notable declines.

Dollar Prices are Marginally Lower

Some weak U.S. economic data had put pressure on the dollar in the currency markets, while the Japanese yen strengthened ahead of Tuesday's consumer price data from Tokyo, which is predicted to reveal stronger inflation in February.

The euro was steady at $1.0842 after recovering from a low of $1.0796 last week, while the dollar was at 150.08 yen, having peaked at 150.85 last week; stock market live

Bank Nifty

In spite of low volume and volatility, the Bank Nifty increased 11 points to settle at 47,298 on March 2. On the daily scale, the index made a tiny green candle and closed above all significant moving averages.
The pivot point calculator predicts that Bank Nifty will find support at 47,248 and then at 47,201 and 47,126. Resistance on the higher end of the index could be found at 47,316, 47,444, and 47,520.

GIFT Nifty suggests a subdued launch

The GIFTNifty's trends show a modest start for the overall index, down 25 points or 0.11 percent. At roughly 22,503.50, the GIFT Nifty futures were trading.

Saturday's Stock Market

During the March 2 special trading session, benchmark indices NSE Nifty 50 and BSE Sensex continued to rise from the previous session and reached new highs.

Closed at 22,378.4, up 0.18 percent, the 50-share NSE index reached a new all-time high of 22,419.55. The 30-share Sensex, on the other hand, concluded the special trading session slightly higher at 73,806.15, having reached a new 52-week high at $73,994.70.

Alongside Mahindra & Mahindra, Maruti Suzuki, NTPC, Sun Pharma, and Nestle India, the top gainers on the Nifty 50 were Tata Steel, Hero Motocorp, Tata Motors, Adani Ports, and JSW Steel.

Nifty Midcap and Smallcap indexes rose more than half a percent, and all other major market indices concluded the day higher.Nifty Consumer Durables, Nifty Metal, and Nifty Media all finished more than 1% higher on a sector basis. At 47,297.50, the Bank Nifty closed unchanged.

LIVE Feed

Mar 04, 2024, 3:53 pm IST

Market Ends With Minor Gains; Nifty Holds Above 22,400

The Sensex concluded with a modest gain of 49.90 points or 0.07%, settling at 73,856.05, while the Nifty posted a rise of 27.20 points or 0.12%, closing at 22,405.60. The market dynamics saw 1,198 shares witnessing an uptick, 2,214 experiencing a decline, and 110 remaining unchanged. Across various sectors, banking, energy, infrastructure, and pharmaceuticals observed positive movements, while information technology, metals, FMCG, and the automobile sector faced downward pressure.

Mar 04, 2024, 3:20 pm IST

BHEL Shares At 13-Year High; Biggest Single-Day Gains In 4 Years

BHEL shares hit 13-year high and are poised for its most significant single-day increase in over four years. Following an upswing, BHEL's market capitalization is currently nearing the Rs 1 lakh crore mark. The surge is attributed to speculations surrounding the company securing a substantial order. Nevertheless, BHEL has clarified that it has not received any order from NTPC.

Mar 04, 2024, 2:29 pm IST

MOIL Shares Soar 11.5% On 15% YoY Production Surge In February

MOIL shares experienced an 11.5% surge in trading on March 4 following the state-owned manganese ore mining company's announcement of a substantial 15% year-on-year (YoY) increase in production for the month of February. MOIL achieved its best-ever February production, reaching 1.51 lakh tonnes of manganese (Mn) ore, representing a robust 15% YoY growth. Simultaneously, sales for the same period totaled 1.56 lakh tonnes, marking an impressive 18% increase compared to the corresponding month in the previous year. MOIL reported sales of 13.91 lakh tonnes, showcasing a 32% year-on-year growth. This growth trajectory underscores the company's resilience and efficient operational capabilities, contributing to its positive standing in the market.

Mar 04, 2024, 1:48 pm IST

Sensex, Nifty Sees Slower Buying

Sensex, Nifty continued to trade in green, but the upside was at a slower pace despite Moody's Investors Service has revised its GDP growth estimate for India in 2024 to 6.8%, up from the earlier forecast of 6.1% in November 2023. This positive outlook comes on the back of robust capital spending by the government and a surge in manufacturing activity.

Mar 04, 2024, 1:28 pm IST

Top 5 Gainers and Losers Today

Stock Market Live Updates

Mar 04, 2024, 1:05 pm IST

Tata Motors At New 52-Week High

Tata Motors shares surged to a 52-week high, reflecting stellar financial performance and robust sales. On the special day of trading on March 2 (Saturday), Tata Motors shares opened at Rs 988.9, closing at Rs 977.2. The day witnessed a high of Rs 992.8 and a low of Rs 981.75, with a market capitalization reaching an impressive Rs 3,78,730.56 crore. The BSE volume for the day was a substantial 66,457 shares.

Mar 04, 2024, 11:36 am IST

Mukka Proteins IPO: Subscribed 22 Times On Final Day, HNI Portion Oversubscribed At 58x

As of the morning of March 4, the concluding day of bidding, the IPO of Mukka Proteins, a manufacturer of fish protein products, garnered a subscription rate of 22.57 times. High net-worth individuals displayed significant interest, oversubscribing their share by an impressive 58.31 times. Meanwhile, retail investors subscribed 18.97 times their allocated portion, and qualified institutional buyers reached 2.06 times their reserved segment.

Mar 04, 2024, 11:36 am IST

Moody's Raises India's 2024 GDP Growth Estimate To 6.8% From 6.1%

Moody's, the international credit rating agency, has revised its projection for India's GDP growth in 2024, increasing it from 6.1% to a more optimistic 6.8%. Additionally, Moody's anticipates a continued positive trajectory for India's economy, with a forecasted GDP growth of 6.4% in 2025, a slight uptick from its earlier prediction of 6.3%.

Mar 04, 2024, 10:42 am IST

Biocon Signs Settlement With Bayer & Regeneron Pharma

Biocon signeda settlement with Bayer & Regeneron Pharma for a patent infringement case. The agreement paves the way for the introduction of Yesafiliin the Canada market.

Mar 04, 2024, 10:23 am IST

Paytm Witnesses 3% Decline Amid Uncertainties On Paytm Payments Bank License Renewal

On March 4, Paytm shares experienced a 3% dip in morning trading, fueled by speculations that the Reserve Bank of India (RBI) might undertake an unprecedented move of revoking the banking license of Paytm Payments Bank Limited (PPBL) with less than two weeks remaining for the bank to cease its operations. If the RBI proceeds with the revocation, it would mark the first instance in over two decades where the banking regulator takes such drastic action. The RBI, on January 31, imposed stringent business restrictions on Paytm Payments Bank, including a prohibition on accepting new deposits and engaging in credit transactions after March 15. The regulatory action was triggered by the discovery of significant irregularities in Know Your Customer (KYC) procedures, posing substantial risks to customers, depositors, and wallet holders. Since the RBI's intervention, Paytm's stock has been adversely affected, reflecting the market's response to the regulatory crackdown.

Mar 04, 2024, 9:44 am IST

BHEL Maintains Gains for the Fifth Day in a Row

Today marks the fifth day that BHEL shares have increased by more than 5%. The best Nifty Midcap gainer is also this stock. In the previous year, it increased by 232%.

Mar 04, 2024, 9:37 am IST

Rupee Stays Below 83 Per Dollar

The Indian rupee continues to hold below 83 mark against US dollar. At the forex market, in early trade, the local unit was at 82.84 against dollar, appreciating by 0.71%. As per Geojit, the dollar remained steady as traders awaited economic data for clues on potential interest rate cuts by the Federal Reserve. It dipped on Friday alongside short-term Treasury yields after Fed Governor Chris Waller suggested adjusting the balance sheet towards shorter-term Treasury bills.

Mar 04, 2024, 9:06 am IST

IPO RK Swamy Begins Today:

Today, March 4, is the launch day of RK Swamy's initial public offering (IPO), which is a service that provides integrated marketing solutions. March 6 will mark the end of the three-day bidding period. The company's shares were worth ₹90 more in the grey market today, ahead of the IPO launch.

Mar 04, 2024, 8:53 am IST

This Week's IPOs: Pune E-Stock Brokerage IPO, RK Swamy IPO, and 8 New Issues/7 Listings to Keep Primary Market Buzzing

Investors were kept busy last month with subscriptions and listings as the primary market saw a lot of activity with many listings in the SME and main board divisions. The market is still buzzing as we enter the first week of March because there are still IPOs and fresh listings available for subscription. The IPOs for M.V.K. Agro Food and Mukka Proteins are now open and will end the bidding process on March 4. In addition, a number of businesses will open for subscriptions this week, and a few will list on stock exchanges. IPO of RK Swamy The subscription period for the mainboard issue begins on March 4, 2024, and ends on March 6, 2024. The RK Swamy IPO is a Rs 423.56 crore book-built issuance. The offering consists of 0.6 crore newly issued shares, valued at Rs 173.00 crore, and 0.87 crore shares, valued at Rs 250.56 crore, which are being offered for sale. In the anchor round prior to the sale, the RK Swamy IPO raised Rs 187 crore from well-known investors.

Mar 04, 2024, 8:38 am IST

Trending Stocks: Avenue Supermarts, Park Hotels, SJVN, Godrej Properties, NTPC,

Avenue Supermarts: In Bengaluru, Karnataka, the D-Mart operator has launched a new location. With this, there are currently 347 stores overall as of this writing. The board has approved investment for the Singrauli super thermal power project, Stage III (2x800 MW), according to NTPC, the state-run power producer. The project is now expected to cost Rs 17,195.31 crore. SJVN: Gujarat Urja Vikas Nigam's price-based competitive bidding process resulted in the 200 MW solar power project being awarded to subsidiary SJVN Green Energy (SGEL) at a tariff of Rs 2.66 per unit. The development of this 200 MW solar power project would follow a build-own-operate (BOO) model, with an estimated development cost of approximately Rs 1,100 crore. Godrej Properties: A profit-sharing mechanism will be used to build a township project on a 62-acre plot of land in North Bengaluru. The Mumbai-based real estate developer has finalised negotiations for this project. With an anticipated booking value of Rs 5,000 crore, this project offers 5.6 million square feet of saleable area.

Mar 04, 2024, 8:30 am IST

Put Option Data Review

The Nifty can find significant support from the Put side, where the biggest open interest was 73.21 lakh contracts at the 22,000 strike. There was a 22,200 strike with 67.21 lakh contracts, and a 22,100 strike with 54.38 lakh contracts that came after that. Consecutive strikes at 21,400 and 22,400 gained 18.99 lakh contracts, respectively, and at 21,700 and 21,400 added 9.79 lakh and 13.14 lakh contracts. Following the 21,300 strike, which saw the unwinding of 17.47 lakh contracts, there were strikes at 22,100 and 21,200, which saw the unravelling of 5.8 lakh and 5.22 lakh contracts, respectively.

Mar 04, 2024, 8:25 am IST

Nikkei 225 in Japan Crosses the Crucial 40,000 Milestone for First Time

The Nikkei 225 Stock Average in Japan broke beyond the psychological barrier of 40,000 for the first time, paving the way for additional gains in its remarkable surge. On Monday, the blue-chip indicator set a new intraday record by rising as much as 1% to 40,301.30. Leading the way were IT stocks, which have contributed to the rise in share prices over the previous year. Among the best-performing companies is Advantest Corp. Although it has increased, the overall Topix index is still roughly 6% below the peak it reached more than thirty years ago, prior to the collapse of Japan's asset-price bubble. US consumption data helped both the Nikkei and the Topix, adding to hopes that the Federal Reserve could be able to lower interest rates as early as June, which would be beneficial to the world economy.

Mar 04, 2024, 8:15 am IST

Tata Steel and JSW Steel are lowered by CLSA

Tata Steel To Sell At A Lower Price Than Expected, With A Goal Cut To Rs 135/Sh From Rs 145/Sh Reducing the target price of JSW Steel to Rs 730/Sh from Rs 810/Sh and maintaining the under performance call on Jindal Steel Power with a target price of Rs 840/Sh I think JSPL is doing relatively well because the projects involving margin expansion will more than offset the worse ind spreads. India's Profit Pool Should Gradually Shift From Converters To Miners As the addition of steel capacity picks up speed, India's profit pool should grow incrementally. Consensus estimates do not account for spread compression.

Mar 04, 2024, 8:04 am IST

OPEC+ Keeps Reducing Output Until Middle of The Year; Brent Crosses Per Barrel

On March 4, oil prices saw a small increase in Asian trade following the announcement by OPEC+ that it will continue to reduce production until the second quarter. While West Texas Intermediate (WTI) Crude gained 0.3 percent to trade around per barrel, Brent Crude increased by 0.4 percent to trade at per barrel.