NSE tech glitch: Sensex ends 1030 pts up in extended trade, Nifty at 14,982

Sectorally, the Nifty Bank and Private Bank indices closed 4 per cent higher

5:45 PM

MARKET CLOSING COMMENT :: Deepak Jasani, Head of Research, HDFC Securities

Indian equity benchmark indices witnessed a session marred by a technical outage that disrupted trading on the NSE for nearly four hours. The Nifty opened flat and rose in early trade. The NSE shut trading in its cash and derivative segments at 1140 Hrs, citing “issues” with telecom links of its two service providers, which it said impacted the system and stopped prices from updating. Trading resumed on the NSE at 1545 Hrs and indices rose sharply post the second opening due to square off/shifting activities across exchanges. BSE continued to have normal trading in all segments through the extended day.  

 

Nifty has bounced up well after the 5 day fall seen recently. Although this rise is to be seen in the backdrop of the widespread weakness across Asia, the momentum in the indices could take the Nifty up to 15039-15132 band in the near term. However for the time being it seems as a correction of the recent fall and not a new uptrend.

5:29 PM

MARKET CLOSING COMMENT :: Vinod Nair, Head of Research at Geojit Financial Services

Technical glitch did not impact domestic market sentiment though volatility was high with a positive prejudice, in the first session. During the extra session, the market gathered more strength and hugely outperforming the global peers, triggered by squaring-off F&O positions a day ahead of the prefixed monthly expiry date. The global market was mixed, not very convinced that world central banks like FED will maintain a flexible monetary policy even during rising bond yield & inflation. And the Asian market was negatively impacted by a hike in stamp duty on equities.

5:19 PM

Nifty Outlook by Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities

Nifty50 is currently in consolidative phase; we expect the same to continue for the next few weeks. Broader range is seen at 14500-15200. From the medium term perspective, the undertone remains extremely positive and we expect the index to test 16000 odd levels. Banking, Metals and Realty remain preferred picks and can be accumulated on correction

5:17 PM

Market stats

5:16 PM

Stocks that lifted Sensex today

5:15 PM

Sectoral trends on NSE at Close

5:14 PM

Sensex Heatmap at Close

5:12 PM

CLOSING BELL

The benchmark S&P BSE Sensex zoomed to day's high during the fag-end of the session, soaring 1,130 points in the intra-day trade. The index ended 1,030 points, or 2 per cent, higher at 50,782 levels. 
 

On the NSE, the Nifty50 closed above the 14,950-mark, up 272 points or 1.9 per cent at 14,982 levels. The index hit an intra-day high of 15,009.

 

5:01 PM

Gold holds tight range on investor caution over Powell remarks

 Gold steadied in a tight range on Wednesday, propped up by a subdued dollar, as investors digested monetary policy cues from Federal Reserve Chair Jerome Powell.

 

Spot gold was up 0.1% at $1,807.51 per ounce. US gold futures were steady at $1,805.60. READ MORE

4:58 PM

NEWS ALERT :: Godawari Power and Ispat starts booking export orders of High Grade Iron Ore Pellets

4:55 PM

ALERT :: India VIX drops over 5%

>> The index is quoting near 24 levels

4:46 PM

ALERT :: Nifty reclaims 15,000 in intra-day trade

4:34 PM

Tata Power raises Rs 900 cr through non-convertible debentures

Tata Power has raised Rs 900 crore through issuance of non-convertible debentures (NCDs).

 

The company issued 9,000 unsecured, redeemable, taxable, listed, rated NCDs worth Rs 900 crore on Tuesday, a BSE filing said.

 

The series-I debentures worth Rs 400 crore would mature on February 23, 2024, while series-II debentures of Rs 500 crore would mature on February 23, 2026, it said.

4:23 PM

ALERT :: Sharp rally in Sensex

4:18 PM

NEWS ALERT :: Embargo lifted on grant of Govt business to private banks, says FM Nirmala Sitharaman

4:13 PM

SECTOR ALERT :: Nifty Bank gains 2%

4:02 PM

EXPERT TAKE :: Anand James, Chief Market Strategist at Geojit Financial Services on NSE tech glitch

Expiry eve is a crucial day for expiry related trades as time decay sets in. As indices froze a little after 10 am, FNO trades that reference such benchmark indices also slowed down. With hardly an hour’s trade possible for such index-based traders the higher margins on F&O positions may have been a double whammy. Towards this end, BSE being open may not have been much solace, but certainly a backup avenue for cash traders. Fortunately, VIX had calmed down after Monday’s steep fall, and the extended session post 3. 45pm could help settle things. As of Tuesday, Nifty and Bank nifty rollovers were at 40.9 and 36.7 respectively, in line with what is usually seen on similar days of previous expiries

3:57 PM

MARKET CHECK

3:56 PM

MARKET CHECK

3:47 PM

India's economic recovery to cut bank stress, but Covid hit to be felt: S&P

An improvement in India's macroeconomic conditions is likely to alleviate stress for the country's banking sector. However, a hit from Covid-19 pandemic is inevitable, according to "Banking Industry Country Risk Assessment: India", a report by S&P Global Ratings.

 

Rating agency Standard and Poor’s (S&P) in a statement said the Indian government's strong efforts to shield banks from the Covid-19 pandemic have been largely successful. READ MORE

3:36 PM

NEWS ALERT

Cabinet approves PLI scheme for pharma and IT sectors, says Javadekar

3:35 PM

ALERT :: Indices turn volatile as NSE resumes trading

>> BSE to remain open till 5 PM today

3:30 PM

BREAKING :: NSE to open for pre-open at 3:45 PM

>> Trading will continue till 5 pm

3:20 PM

MARKET CHECK

3:04 PM

NEWS ALERT :: All MIS/CO F&O positions will get carried over to tomorrow, says Nithin Kamath

If NSE doesn't open for the day, all MIS/CO F&O positions will get carried over to tomorrow with today's buy/sell entry price, the Zerodha founder tweeted

2:52 PM

Ultra-high networth population in India may rise 63% in 5 yrs: Knight Frank

The number of ultra-high networth individuals (UHNWIs) – those with $30 million or more – is likely to rise 63 per cent in India in the next five years to 11,198 in 2025, predicts the Knight Frank Wealth Report 2021. The pace of growth back home is far higher as compared to the 27 per cent rise in their population globally at 663,483 during this period. READ MORE

2:48 PM

RBI guv assures liquidity for bond market, urges appropriate yield curve

The Reserve Bank of India (RBI) once again urged cooperation from the bond market participants for “orderly evolution of the yield curve.” The governor, in an interview with CNBC TV18, did not want to comment whether six per cent yield for the 10-year is the tolerance limit, but said the bond market should not worry about liquidity support. “The overnight liquidity window is there. The market is assured that liquidity will be there.” READ MORE

2:43 PM

NEWS ALERT :: Zerodha announces to block all new orders if NSE issue isn't resolved by 2:45 PM

2:35 PM

Sebi tightens margin norms for commodities trading to curb negative pricing

The regulator has said “pre-expiry margins” will be imposed on cash-settled contracts wherein the underlying commodity is deemed susceptible to possibility of near zero and/or negative prices. These margins will be levied five days ahead of the expiry date and they will increase by 5 per cent each day. READ MORE

2:27 PM

IIFL Finance raises Rs 100 crore via NCDs

IIFL Finance on Wednesday said it has raised Rs 100 crore through issuance of non-convertible debentures (NCDs) on private placement basis. The company said NCDs will be listed on the National Stock Exchange (NSE). The NCDs will carry interest rate of 7.7 per cent per annum.