New Records Nifty tests 22,400; Sensex gains 61 pts in spl trading session

Stock market Update on Saturday, March 02: The S&P BSE Sensex hit a fresh all-time high at 73,995, and the Nifty a peak at 22,420 in Saturday's special trading session.

12:53 PM

Weekly market wrap: Nifty forms bullish candle on weekly charts, more uptrend likely

In the last week, the benchmark indices continued the positive momentum, the Nifty ends 0.75 percent higher while the Sensex was up by 662 points. Among Sectors, Consumer and Metal indices gained over 2 percent whereas Media index corrected sharply shed over 5 percent.

Technically, after a short-term correction one more time the Nifty/Sensex took the support near 20 day SMA (Simple Moving Average) and bounced back sharply.

On daily and intraday charts, the index has formed double bottom reversal formation and on weekly charts, it has formed bullish candle, which supports further uptrend from the current levels.

For the trend following traders now, 22200/73200 would act as a key support zone. Above the same, the market could rally till 22500-22575/74100-74500.

On the flip side, below 22200/73200 traders may prefer to exit out from the trading long positions. Below 22200/73200, the market could slip till 22100-22000/73000-72700.

For Bank nifty, as long as its trading above 50 day SMA the positive texture is likely to continue. Above the same the bank nifty could move up till 47600-47800. On the flip side below 50 day SMA or 46650 uptrend would be vulnerable.

Views by Shrikant Chouhan, Head Equity Research, Kotak Securities. 

12:47 PM

Paytm sheds nearly 4% as FIU slaps Rs 5.5 crore penalty on Payments Bank

Shares of One97 Communications, the parent firm of Paytm, declined 3.6 per cent to Rs 410 intraday on the BSE in Saturday's special session after the Financial Intelligence Unit-India (FIU), a branch of the finance ministry's revenue department, levied a Rs 5.49 crore penalty on Paytm Payments Bank. Read

12:42 PM

Metal, Media indices end with highest sectoral gains

12:40 PM

Broader indices close relatively higher against benchmarks

12:38 PM

Top Nifty gainers in Saturday's special session

12:35 PM

Heatmap: M&M, NTPC, Maruti top Sensex drags

12:33 PM

Closing Bell: Nifty hits new peak of 22,419; ends off high

12:32 PM

Closing Bell: Sensex ends with slim gains after hitting record high of 73,995

12:24 PM

Dhruv Consultancy rallies 5%; co to submit RFP as consultant for Ghana Highways project

The company has been shortlisted along with Stockbridge Company to submit the Request for Proposal(RFP) as “Consultant” for a project by Ghana government. 

This will be for consultancy services for the Feasibility and Detailed Engineering Design Studies for the Pavement Strengthening of Kintampo – Buipe Road by Ghana Highway Authority.  

12:11 PM

Dwarikesh Sugar hits 5% upper limit as board to mull share buyback

Shares of Dwarikesh Sugar were locked at the 5 per cent upper limit at Rs 81.94 on the BSE in Saturday's special trading session owing to plans of share buyback by the company.
 

At 11:55 am, the stock remain locked in the maximum upper limit for the day (capped at 5 per cent owing to the special trading session) with trades of around 4.06 lakh shares as against the two-week average volume of around 1.46 lakh shares on the BSE. Read

11:59 AM

HG Infra jumps 2% on winning Rs 447 crore project from Railways

HG Infra Engineering has received the letter of acceptance from South Central Railway for a project worth Rs 447 crore. 

11:51 AM

All sectors in green; Banks lag peers

11:48 AM

Suven Pharma extends gains post merger nod with Cohance; up 15% in 2 days

11:43 AM

Tata Motors at new peak; eyes breaching Rs 1,000

11:41 AM

Tata Steel rallies 3% to scale new lifetime high

11:38 AM

Midcap, Smallcap indices hold relative strength to benchmarks

11:34 AM

Heatmap: Tata Steel continues to lead Sensex gains in second trading session

11:33 AM

Opening Bell: Nifty holds gains on kicking off second slot of trading

11:31 AM

Opening Bell: Sensex pares gains

11:27 AM

Pre-Open: Nifty holds above 22,400

11:24 AM

Pre-Open: Sensex set to resume gains in second slot of trading

11:16 AM

Electric two wheeler volume remains flat despite sharp price cuts

Despite sharp discounts across models to raise volumes in the past two months, electric two wheeler sales month-on-month are stagnating. Registrations to the end of February touched 79,139, marginally lower than 79,214 in January, based on VAHAN data. Read

11:03 AM

Havells, V-Guard, Voltas rally up to 5% on healthy outlook

Shares of household appliances companies Havells India, V-Guard Industries, and Voltas rallied up to 5 per cent on the BSE in Saturday's special session on anticipation of better January-March quarter (Q4) on summer demand for fans and air-conditioners (ACs), along with rising infrastructure spends which may drive sales of cables and switchgears. Read

10:49 AM

Swan Energy declines 3.6% on profit booking; Co raises Rs 3,300-cr via QIP

Shares of Swan Energy declined 3.6 per cent to Rs 735 on the BSE in Saturday's special trading after the company raised Rs 3,319 crore via Qualified Institutions Placement (QIP).
 

It allotted 49.5 million shares to eligible, qualified institutional buyers at the issue price of Rs 670 per share against the floor price of Rs 703.29 per share, the company said in an exchange filing. Read

 

10:37 AM

RBI may undertake comprehensive review of architecture of payment banks

This all-encompassing exercise, almost a decade after licensing terms were issued on November 27, 2014, is to take into account standards of governance, the viability of the payment bank (PB) business model, and changes, if any, if needed. This will also impact PBs seeking to convert into small finance banks (SFBs), as a comprehensive review of the regulatory capital framework for the latter is also under consideration, as mentioned in the Report on Trend and Progress of Banking in India (2022-23).  READ MORE

10:18 AM

NLC India jumps 5% as ICRA reaffirms rating on NCDs worth Rs 2,000 cr

At 9:45 am, the stock traded around Rs 231, up 4.6 per cent on volumes of around 45,000 shares. The stock exchanges have capped the maximum permissible limit at 5 per cent for today's special trading sessions for all stocks. Meanwhile, the S&P BSE Sensex was up 0.2 per cent at 73,900 levels. READ MORE

10:02 AM

ALERT :: Markets take break

9:53 AM

Torrent Power soars 5% on bagging orders of Rs 3,140 cr; up 66% in 6 mths

To meet the high power demand in coming months, NTPCV Vidyut Vyapar Nigam (NVVN), a subidiary of NTPC, has awarded a Rs 440 crore contract to Torrent Power, under which it will supply power from its gas based power plant. READ MORE

9:42 AM

Matrimony.com declines 2.5% as Google Play Store delists app

>> Apps of Info Edge's job-search business Naukri, real estate business 99acres and Matrimony.com's flagship BharatMatrimony have been delisted from Google Play Store, among several others for failing to pay service fees for the use of the app store.

>> Info Edge slips 2%

9:40 AM

Aurobindo Pharma rises over 1.5% as USFDA gives final nod to Fingolimod capsules

>> The pharma company has received final approval from the US Food and Drug Administration (USFDA) to manufacture and market Fingolimod capsules, 0.5 mg.