Stock Market Live Updates: Sensex, Nifty trade flat; SBI, L&T, HDFC Bank, ICICI Bank top losers

Stock Market News Update Today: Titan, UltraTech Cement, Asian Paints, Dr. Reddy's Laboratories Bharti Airtel were among top gainers on the BSE Sensex pack

Paring early morning gains, the Indian benchmark indices were trading flat in the afternoon session of trade on Monday, weighed down by losses in metal and bank stocks. The BSE Sensex was at 50,417, up by 24 points or by 0.04 percent, and the NSE Nifty was at 14,924, down 4.75 points or by 0.03 percent. In line with benchmark indices, the broader markets were also trading flat, with MidCap and SmallCap indices gaining 0.01 percent and 0.03 percent, respectively. The BSE Sensex touched an intraday high of 50,857.98 and an intraday low of 50,320.56, while the NSE Nifty touched an intraday high of 15,051.6 and intraday low of 14,912.85. Among the individual stocks, Titan, UltraTech Cement, Asian Paints, Infosys, TCS, HCL Technologies, Dr. Reddy's Laboratories, Bharti Airtel were among the top gainers on the BSE Sensex pack. On the other hand, Bajaj Auto, State Bank of India, and Sun Pharmaceutical Industries were notable losers. On the sectoral front, metal and bank indices were among the top losers, falling as much as 1.33 percent and 1.08 percent, respectively.

On the global front, Asian markets were trading higher on Tuesday, tracking firm cues from the US market. In the overnight trade, Wall Street closed at record highs with the Dow Jones Industrial Average rising 0.5 percent and the S&P 500 gained 0.7 percent to settle at a new high. The Nasdaq Composite jumped 1.1 percent.

2:30 PM: Expert views on the real estate sector

Arfeen Ahmed, Director, the Home key says, "We have been witnessing a positive sentiment among buyers about investing in real estate as an asset. Also, the altered lifestyle where WFH has become a norm, is motivating people to look for bigger spaces. Buyers are looking to settle in places where there is seamless connectivity to prime locations of the city. The government has also made significant announcements in this budget related to infrastructure; effective implementation of these will definitely be giving a boost to the real estate sector. Additionally, the influx of migration taken place due to the COVID has also elevated the stature of Tier II-III cities as hubs of growth and industrialization."

2:15 PM: Intellect Design Arena share jumps 18%

Shares of Intellect Design Arena were trading 18.45 percent higher at Rs 618.15 on the BSE. During the day's trade, the stock hit a 52-week high of Rs 626 on the back of heavy volumes.

1:40 PM: Sensex, Nifty slip in red

At 1:38PM, the BSE Sensex was at 50331.65, down by 63.43 points or by 0.13 percent, and the NSE Nifty was at 14917.85, down by 11.65 points or by 0.08 percent.

1:00 PM: Nazara Tech to launch IPO on March 17

Rakesh Jhunjhunwala-backed Nazara Technologies will launch its three-day initial public offering (IPO) on March 17. The company, popularly known for its games on World Cricket Championship, Chhota Bheem, and Motu Patlu series, plans to raise Rs 582 crore from IPO through an offer for sale (OFS) of up to 5,294,392 equity shares. The price band for the issue has been fixed at Rs 1,100-01. The bid lot size is 13 shares and in multiples thereof.

12:30 PM: Mid Market: Sensex, Nifty continue to trade higher

Extending early gains, the Indian benchmark indices continued to trade higher in late morning deals on Monday, tracking firm global cues. The BSE Sensex was at 50,616.49, up by 221.41 points or by 0.44 percent, and the NSE Nifty was at 15,004.65, up by 75.15 points or by 0.5 percent. In line with benchmark indices, the broader markets were also trading higher, with MidCap and SmallCap indices gaining 0.44 percent and 0.69 percent, respectively. Among the individual stocks, Titan, UltraTech Cement, Asian Paints, Infosys, TCS, HCL Technologies, Dr. Reddy's Laboratories, Bharti Airtel were among top gainers on BSE Sensex pack. On the other hand, Bajaj Auto, State Bank of India, and Sun Pharmaceutical Industries were notable losers. On the sectoral front, IT and Teck indices were among the top gainers, rising as much as 1.93 percent and 1.67 percent, respectively.

12:15 PM: Titan share price rises 2%

Shares of Titan Company were trading at Rs 1,514.75, up 1.55 percent, on the BSE. The stock was among top gainers on BSE amid a report that ICRA has upgraded the long-term rating of the company from "AA+" to "AAA" with a stable outlook. It also affirmed short-term rating and ratings for the fixed deposit program.

12:00 PM: Tata Communications shares fall 7% as OFS begins

Tata Communications' share price declined as much as 7 percent to Rs 1,206 on the BSE in intra-day trade as an offer for sale (OFS) to offload the government stake in the company started today.

11:45 am: General Insurance Corporation shares jump 10% to hit a 52-week high

Shares of General Insurance Corporation of India (GIC Re) rallied 10 percent to hit a 52-week high of Rs 230.20 on the back of heavy volumes.

11:30 am: Update Kalyan Jewellers IPO

Kalyan Jewellers opened its initial public offer (IPO) today. The three-day public issue will close on March 18. On March 15, Kalyan Jewellers raised Rs 351.89 crore from anchor investors. Total 4.04 crore shares at Rs 87 per share were allocated to 15 anchor investors. The allocation was done at the higher end of the IPO price band. The IPO has a price band of Rs 86 to Rs 87 per equity share.

Kalyan Jewellers IPO in progress: Should you subscribe to the share sale?

11:00 am: Top gainers on BSE

The top gainers of the BSE Sensex pack were Asian Paints Ltd. (Rs. 2435.60,+3.38%), Infosys Ltd. (Rs. 1399.15,+1.90%), Tata Consultancy Services Ltd. (Rs. 3123.20,+1.85%), HCL Technologies Ltd. (Rs. 1009.90,+1.79%), UltraTech Cement Ltd. (Rs. 6675.55,+1.77%), among others.

10:30 am: Top losers on BSE

The top losers of the BSE Sensex pack were Bajaj Auto Ltd. (Rs. 3647.90,-0.45%), State Bank of India (Rs. 382.55,-0.30%), Sun Pharmaceutical Industries Ltd. (Rs. 604.65,-0.12%), among others.

10:15 am: MTAR Technologies share falls 8%

After making a strong debut on Monday, shares of MTAR Technologies fell 8 percent in opening deals on Tuesday. The stock was currently trading at Rs 997.40, down 7.84 percent.

10:00 am: Sensex rises 200 pts, Nifty hover around 15k

The BSE Sensex rose by 246.95 points or by 0.49 percent to 50,642.03, and the NSE Nifty was at 14,964.5, up by 35 points or by 0.23 percent. In line with benchmark indices, the broader markets also opened higher, with MidCap and SmallCap indices gaining 0.56 percent and 0.36 percent, respectively, in opening deals. All the sectoral indices opened in the green, barring metal, with power and consumer durables leading the gain. Among the individual stocks, Titan, UltraTech Cement, Asian Paints, Dr. Reddy's Laboratories Bharti Airtel were among top gainers on BSE Sensex pack.

9:50 am: Pritish Nandy Communications share hit 10% upper circuit

Pritish Nandy Communications shares were locked in the upper circuit of 10 per cent for second day after the Chairman Emeritus of Tata Sons acquired a stake in the company through market purchases.Extending the previous session rally, Pritish Nandy Communications share gained as much as 10 per cent to hit intraday high of Rs 25.85. The market cap of the company surged by 3.4 crore to Rs 37.4 crore, from Rs 34 crore on Monday.

9:35 am: FIIs investment trend

The foreign institutional investors (FIIs) stood as net buyer in equity, but remained net seller in debt on Monday. The net investment of equity and debt reported were Rs 3891.32 crore and Rs -548.17 crore.

9:25 am: Market view from Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"We are now in a highly volatile phase where the market swings on a daily basis, responding to major triggers. The major trigger now is the US bond yield which has the potential to move huge money. Rising bond yield triggers selling in equity markets and when yields cool down buying resumes. Bear hammering and short covering are making markets excessively volatile. Consecutive 2 days of institutional selling - by both FIIs & DIIs- weakened the Indian market. But this is not a directional trend. Post the FOMC Meet & a possible affirmation of the dovish stance by the Fed, the market may resume its upward move. Presently top quality financials present a buying opportunity."

9:15 am: Sensex, Nifty open higher

The BSE Sensex opened 196 points or 0.39 per cent higher at 50,591, and the NSE Nifty was quoting at 14,994, up by 64 points or by 0.43 percent in opening trade.

9:00 am: Global markets

Asian markets were trading higher on Tuesday with Japan's Nikkei, Hong Kong's Hang Seng index and Australia's ASX 200 index edged higher in early trading.

8:45 am: SGX Nifty indicates higher opening for Sensex, Nifty

At 8:45 am, the Nifty futures were trading 74.6 points or 0.5 per cent higher at 15,022.50, on the Singapore Stock Exchange, indicating a positive start at Dalal Street.

8:30 am: Stocks in focus

Shares of Tata Communications, MTAR Tech, Adani Green, Welspun, Max Healthcare, NIIT, AU Small Finance Bank will be in focus in Tuesday's trading session

Source:-https://www.businesstoday.in/markets/market-perspective/share-market-live-updates-sensex-nifty-stocks-price--tata-comm-mtar-tech-adani-port-on-march-16/story/433931.html

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