Sensex Today | Share Market Live Updates: Sensex jumps 500pts, Nifty over 22,170; O&G, Metal, PSU Bank, IT, Consumer up

Sensex Today Live : All indices across sectors were in the green, with the Metal index leading gains, followed by Oil & Gas, PSU Bank, Consumer Durables, and IT, among others. 

Sensex Today Live : The broader market was showing signs of strength, after closing lower for three days straight. The BSE MidCap index was up 1.88%, while the BSE SmallCap index was up 2.84%. 

Sensex Today Live : Adani Enterprises, Adani Ports & SEZ, Hindalco, Hero MotoCorp, and Infosys, were the top gainers on the Nifty 50, while JSW Steel, Tata Steel, Dr Reddy’s, Axis Bank and HDFC Bank, were the top losers on the benchmark index. 

Sensex Today Live : JSW Steel, Tata Steel, Axis Bank, HDFC Bank, and Bajaj Finance, were the only losers on the Sensex, at noon. 

Sensex Today Live : In a notification, the National Stock Exchange, said, “The Exchange has sought clarification from Dilip Buildcon Limited with respect to announcement dated 12-Feb-2024, regarding sale of its 26% investment in 08 special project vehicles.

On basis of above, the Company is required to clarify following:

(a) the amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division or undertaking or subsidiary or associate company of the listed entity during the last financial year;

b) date on which the agreement for sale has been entered into;

c) the expected date of completion of sale/disposal; 

d) consideration received from such sale/disposal;

e) brief details of buyers and whether any of the buyers belong to the promoter/ promoter group/group companies. If yes, details thereof;

f) whether the transaction would fall within related party transactions? If yes, whether the same is done at arm’s length;

g) whether the sale, lease or disposal of the undertaking is outside Scheme of Arrangement? If yes, details of the same including compliance with regulation 37A of LODR Regulations.

h) additionally, in case of a slump sale, indicative disclosures provided for amalgamation/merger, shall be disclosed by the listed entity with respect to such slump sale.”

The exchange added that it is awaiting a response from the company.

Sensex Today Live : Indian benchmark indices shed their early morning blues and climbed upwards on Thursday.

At 12 pm, Sensex was up 493.15 points, or 0.68%, at 73,255.04, and Nifty was up 178.20 points, or 0.81%, at 22,175.90.

Sensex Today Live : Kotak Institutional Equities has observed that LTIMindtree is continually affected by the regular departure of senior management. This, along with the difficulties of integration, weak demand, and client-specific risks, casts a shadow over the company’s short-term growth prospects.

The brokerage firm highlighted the departure of numerous senior management staff from LTI Mindtree over the last 12-15 months. They believe this trend is a result of a lenient approach during the merger process.

Kotak Equities expressed, “We would have preferred swift changes, limiting the discomfort to 1-2 quarters. However, the management’s lenient approach to mitigate risks has ironically evolved into a riskier strategy, leading to regular senior management departures and related instability. These factors likely affected the concentration on driving revenue growth and achieving merger synergies.”

Sensex Today Live : In spite of the prevailing softness in the Indian stock market, the shares of Shree Karni Fabcom made their debut on the NSE EME Emerge platform today at ₹260 each. This represented a listing gain of approximately 14.53 percent for the allottees, compared to the issue price of ₹220 to ₹227 per equity share. However, the upward trajectory of the NSE SME stock didn’t halt there. The SME stock further amplified its listing gains, reaching an intraday peak of ₹273 each, and hitting a 5 percent upper circuit within minutes of listing. (Read the full story here.)

Sensex Today Live : Private sector lender Yes Bank Ltd is in search of a new promoter to offload up to a 51% stake, and has engaged the services of Citigroup’s India division to locate a potential buyer, according to two individuals familiar with the matter. The bank has also extended an invitation to some Indian lenders, including a few of its current shareholders, to come on board as promoters.

Yes Bank, which ranks as India’s sixth-largest private lender in terms of assets, is aiming for a valuation in the range of $8-9 billion. This would represent a 20-25% premium over its current market capitalization of $7.2 billion, the sources disclosed under the condition of anonymity. (Read the full story here.)

Sensex Today Live : TCS today informed the exchanges that it has signed a deal with Denmark’s Nuuday to carry out a complex cloud transformation strategy for the digital connectivity and communications services provider.

In an exchange filing, TCS said, “TCS will take responsibility for Nuuday’s IT infrastructure to carry out a complex cloud transformation strategy that will reduce time-to-market and enhance experiences for employees and customers for Nuuday”.

As part of this multi-million-dollar deal, TCS will migrate Nuuday’s IT infrastructure to the TCS hybrid cloud, paving the way for future transformations.

Nuuday’s move to TCS’ Enterprise Cloud Platform will reduce time to market for new products and services.

It will result in enhanced experiences for customers and employees of Nuuday, which delivers connectivity products and digital services to over 4.1 million Danish homes and 1.8 million businesses.

As the strategic technology partner, TCS will help Nuuday realize its objective of becoming a ‘truly digital service provider’ with a modern and secure infrastructure.

TCS will host and manage all IT domain services of Nuuday during the transformation. This cloud transformation will enable faster and easier adoption of next-gen technologies.

Sensex Today Live : Indian benchmark indices had shed some of their opening blues and were seen climing upwards on Thursday.

At 11 am, Sensex was up 212.03 points, or 0.29%, at 72,973.92, and Nifty was up 92.35 points, or 0.42%, at 22,090.05.

Sensex Today Live : Bajel Projects today informed the exchanges that it has received a contract from Power Grid Corp. of India worth ₹92.18 crores, to work on the transmission system associated with the evacuation of power from solar energy zones in Rajasthan.

In an exchange filing, the company said it has bagged the “Award for Supply of Goods and Services Contract for Transmission Line Package – TL01B for Balance works of removal of LILO of Bawana‐Mandola 400kV D/C line at Maharanibagh S/S and extension of above LILO section from Maharanibagh upto Narela S/S to form 2x400kV D/C Maharanibagh‐Narela Line under “Transmission System associated with Evacuation of Power from Solar Energy Zones in Rajasthan (8.1GW) under Phase‐II Part G1’’vide its letters dated 12th March, 2024, aggregating to Rs. 92.18 crores (excluding taxes).”

Sensex Today Live : Royal Orchid Hotels, informed the exchanges today, that it has signed a management agreement for a new 5-star hotel in Surat, Gujarat.

In an exchange filing, the company said, “The new property will be managed by ROHL in partnership with Hindva Hospitality, LLP. ROHL will oversee this property under a new upscale brand, which will be launched soon.”

Sensex Today Live : Derivatives: Index View Point: BanknNifty 21 Mar weekly cmp 46,981

FII net sell 98 crs.

Total OI addition of 2% noted at 100 bps hints at short build up.

OI PCR 0.86 is call heavy.

Total OI concentration is significant at 47k strike which suggests that a short straddle is set by selling both ce & pe (combo premium approx. 1000 pts) on anticipation of a weekly trading range of 46,000-48,000.

Daily view: 47k is the pivotal level +/-100 pt. Negative if prices sustains below 47k Resistance 47,500 Supports 46,700/46,200.

Sensex Today Live : Nazara Technologies today informed the exchanges that it has acquired a 10.38% stake in Kofluence Tech for a total consideration of ₹31.24 crores.

In an exchange filing, the company said, “…We hereby inform you that the Company, today i.e. March 13, 2024, has acquired 13,374 equity shares of Rs. 10/- each of Kofluence and the consideration of Rs. 31,24,19,828.70 has been discharged by way of issuance and allotment of 3,58,218 equity shares of Rs. 4/- each of the Company at a price of Rs. 872.15 each, to the Sellers.”

Sensex Today Live : Adani Green Energy today informed the exchanges that its whilly-owned subsidiary Adani Renewable Energy Fifty Nine Limited, has entered into power purchase agreements with Solar Energy Corporation of India for supply of 534 MW of solar power projects.

In an exhcnage filing, the company said, “With execution of these PPAs, AGEL now has a total renewable energy project portfolio of 21,778 MWac capacity.”

Sensex Today Live : Larsen & Toubro, today informed the exchanges that it has received a ‘major’ order from a prestigious client in the Middle East.

In an exchange filing, the company said, “The Hydrocarbon vertical (L&T Energy Hydrocarbon – LTEH) of Larsen & Toubro (L&T) has recently secured a major onshore gas pipeline project from a prestigious client in the Middle East.”

It added that the scope of work comprises engineering, procurement, and construction of two new 56″ pipelines, along with associated scraper receivers and launchers and main line isolation valve (MLIV) stations running parallel to the existing pipeline corridor.

Commenting on this order win, Mr Subramanian Sarma, Whole-time Director & Senior Executive Vice President (Energy), L&T, said: “This is the largest cross-country pipeline EPC project awarded to us till date and we are excited to bring our expertise to this strategic project.”

The company classifies orders amounting to ₹5,000 crore to ₹10,000 crore, as a major order.

Sensex Today Live : Azad Engineering today informed the exchanges today that it has signed a 7 year strategic contract with the Steam Power business of GE Vernova for the supply of high-complex rotating airfoils for Nuclear, Industrial and Thermal power industry.

In an exchange filing, the company said, “This transformative collaboration brings an agreement that is valued around USD 35 million for a period of 7 years on March 13, 2024.”

Sensex Today Live : Valor Estate (formerly D B Realty Limited), informed the exchanges today that its board of directors has approved the issue and allotment of 3,56,66,675 equity shares to qualified institutional buyers at the issue price of ₹258 per equity Share (including a premium of ₹248 per equity share, which is at a discount of ₹12.87 per equity share equivalent to 4.75%, to the floor price of ₹270.87 per equity share.

The company said in an exchange filing, “The cumulative value of the shares issues amounts to ₹920,20,02,150″.

Sensex Today Live : Indian benchmark indices opened lower on Thursday but pared some losses to turn green.

At 10 am, Sensex was up 69.15 points, or 0.10%, at 72,831.04, and Nifty was up 24.70 points, or 0.11%, at 22,022.40.

Sensex Today Live : Ashoka Buildcon today informed the exchanges that it has entered into a share purchase agreement with GVR Infra Projects Ltd., and GVR Ashola Chennai ORR Ltd., to acquire around 9.5 million shares of GVR Ashoka Chennai Ltd., for ₹185 crores.

In an exchange filing, the company said, “This is to inform you that Ashoka Buildcon Limited (“the Company”) has entered into a share purchase agreement (“SPA”) with GVR Infra Projects Limited (“GIPL”) and GVR Ashoka Chennai ORR Limited (“CORR”) for the acquisition of 9,45,00,000 equity shares held by GIPL in CORR, constituting 50% of the share capital of CORR, for a consideration of Rs.185,00,00,000/- (Rupees One Hundred Eighty Five Crore only) subject to terms as agreed under the Share Purchase Agreement (“SPA”) as per the terms of the SPA (Please see Annexure I for further details).”

Sensex Today Live : JSW Energy today informed the exchanges today that its wholly-owned subsidiary JSW Neo Energy has received a letter of award for ISTS connected Solar Capacity of 700 MW from Solar Energy Corporation of India Limited (SECI), against Tariff based Competitive Bid invited by SECI for setting up of 1,500 MW ISTS connected Solar Power Projects.

In an exchange filing, the company, said, “JSW Neo Energy Limited (or “JSW Neo”), a wholly owned subsidiary of JSW Energy Limited (or “The Company”), has received Letter of Award (LoA) for ISTS-connected solar capacity of 700 MW from Solar Energy Corporation of India Limited (SECI), against Tariff based Competitive Bid invited for setting up of 1,500 MW ISTS-connected Solar Power Projects.

The current installed generation capacity is 7.2 GW. The company expects to have 9.8 GW of installed capacity by CY24, with this awarded capacity of 700 MW under SECI Tranche XIII, the company’s total locked-in generation capacity increases to 11.7 GW, of which 2.1 GW will be solar.”

Sensex Today Live : Engineering & Construction firm Kalpataru Projects International today informed the exchanges today that the company, along with its Joint Ventures (JVs) and international subsidiaries, has secured new orders/notification of awards of ₹ 2,445 crores.

The company shared the details of the orders in an exchange filing. It said, “The details of the aforesaid new orders are as follows:

Orders in the Transmission & Distribution (T&D) business of ₹ 2,366 Crores in India and overseas markets.

Orders in the Buildings & Factories (B&F) business of ₹ 79 Crores”.

Sensex Today Live : Among the heavyweight sectoral indices, Nifty Bank was under pressure, down 0.45%, while on the positive side, the Oil & Gas index was up 1.69%, and the Metal index was up 1.03%.

Sensex Today Live : The broader market opened stronger, with the BSE MidCap index up 0.91%, and the BSE SmallCap index up 0.69%.

Sensex Today Live : Coal India, BPCL, Adani Ports & SEZ, Hindalco, and Power Grid Corp., were the top gainers on the Nifty 50, while Bajaj Finance, LTI Mindtree, TCS, Tata Steel, and Bajaj Finserv, were the top losers. 

Sensex Today Live : Power Grid Corp., Nestle India, NTPC, Kotak Mahindra Bank, and Reliance Industries, were the top gainers on the Sensex, while Tata Steel, TCS, Tech Mahindra, Bajaj Finance, and Wipro, were the top losers. 

Sensex Today Live : The defence sector manufacturer informed the exchanges today that the country’s Ministry of Defence has signed two contracts with it to acquire 34 Advanced Light Helicopters (ALH) Dhruv Mk III for the Indian Army & Indian Coast Guard.

In an exchange filing, it said, “We wish to inform that, consequent upon approval of the Cabinet Committee on Security (CCS), the Ministry of Defence signed two contracts for a combined value of ₹8073.17 crore with the Company on 13 March 2024 for acquisition of 34 Advanced Light Helicopters (ALH) Dhruv Mk lllalong with Operational Role Equipment for Indian Army (25 ALHs) and Indian Coast Guard (09 ALHs).”

Sensex Today Live : Indian benchmark indices opened lower on Thursday, led by mixed cues from global peers.

At opening bell, Sensex was down 141.80 points, or 0.19%, at 72,620.09, and Nifty was down 72.70 points, or 0.33%, at 21,925.

Sensex Today Live : ViewPoint: Nifty Outlook for 14th Mar’24:

Long : Short Ratio is at 40% : 60%

VIX at 14.43

FIIs outlook is sideways for indices & positive for FnO stocks

NF witnessed long unwinding only to the tune of 2.6% + its PCR_OI dropped to 0.65 indicating an indecisive trend

Expected expiry range today 21,800 to 22,000/22,050

View: There can be a trend reversal below 22,200. Going forward, if 21,800 breaks, Nifty can head towards 21,500/400. However, if today & tomorrow Nifty defends 21,800 & survives back above 22,050 (weekly closing) then it may resume a consolidation trading range between 21,800 to 22,200 for a few days.

Also monthly options chain was showing 21,000 to 23,000 for the March series and even now, highest OI for monthly expiry is at 21,000 PE (0.86 L contracts) & 23,000 CE (0.64 L contracts).

Sensex Today Live : Indian benchmark indices were muted during pre-open on Thursday, led by mixed signals from global markets.

Sensex was down 194.40 points, or 0.27%, at 72,567.49, and Nifty was down 15.15 points, or 0.07%, at 21,982.55 during pre-open.

Sensex Today Live : Senior government officials, cited by PTI, have said that the government does not plan to divest its stake in ITC, which is held through SUUTI, even though British American Tobacco (BAT) has reduced its stake in the Kolkata-based FMCG company through a block deal.

As of December 31, 2023, the Specified Undertaking of the Unit Trust of India (SUUTI) held an approximate stake of 7.82% in the diversified conglomerate ITC.

Tuhin Kanta Pandey, Secretary of the Department of Investment and Public Asset Management (DIPAM), confirmed to PTI, “At present, there are no such plans.” (Read the full story here.)

Sensex Today Live : In a speech in Mumbai, Gautam Adani, Chairman of the Adani Group, stated that the conglomerate remained unshaken despite attempts by US-based short seller Hindenburg Research to destabilize it. He emphasized that the report was not only an attack on the Adani Group but also an attempt to politically tarnish India’s governance practices.

“On January 24 last year, we faced a significant assault from a US short seller. The aim was not merely to unsettle us, but also to politically discredit India’s governance practices. Despite attempts to undermine our foundation, we held our ground, not only preserving our reputation but also ensuring that we stayed concentrated on our operations,” he articulated. (Read the full story here.)

Sensex Today Live : The Indian stock market indices, Sensex and Nifty 50, are projected to continue their downward trend on Thursday, following a significant decline in the previous session and influenced by mixed signals from international markets.

The Gift Nifty trends also suggest a pessimistic opening for the Indian benchmark index. The Gift Nifty was observed trading around the 22,048 mark, nearly 60 points lower than the previous close of Nifty futures.

On Wednesday, the domestic equity indices experienced a steep decline of more than a percent due to widespread selling across sectors, resulting in the benchmark Nifty 50 closing below the 22,000 mark.

The Nifty 50 formed a long bearish candle on the daily chart, moving below the immediate support of the 10/20 day Exponential Moving Average (EMA) and also the uptrend line as per the daily chart. (Read the full story here.)

Sensex Today Live : The local stock market is predicted to start cautiously on Thursday, following a significant sell-off in the previous session and mixed signals from global markets.

While Asian markets remained subdued, US stock indices showed mixed results overnight as investors awaited further data on inflation and consumer health to gauge the future course of the US Federal Reserve’s policy.

Investors are keenly awaiting the release of data on India’s wholesale inflation and US producer prices today. On Wednesday, Indian stock market indices fell by over a percent due to widespread selling across sectors, with mid and small caps suffering the most.

“Markets couldn’t sustain their momentum due to heavy selling in mid and small-cap stocks. The ongoing scrutiny from SEBI, the pending outcome of the MF stress test, and high valuations after the recent rally led to profit booking. We anticipate the market’s sluggishness to persist in the near term, with Nifty’s major support around the 21,500 zone. A key event to monitor is the release of India’s WPI inflation data today,” stated Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd. (Read the full story here.)

Sensex Today Live : With global markets trading in muted tones and following Wednesday’s lower close, the Indian markets too looked poised to start on a cautious note on Thursday.

In terms of numbers, Gift Nifty futures at 7:43 am, was trading marginally ahead of Wednesday’s Nifty 50 close of 21,997.70. But this is hardly any consolation, as markets globally look to find firm footing ahead of a barrage of data scheduled for release next week. Gift Nifty was at 22,055.50, down 2 points, or 0.01%, from its yesterday’s close.

South Korean shares rose on Thursday, with automakers and financial stocks leading the gains, as the government vowed to speed up its corporate reform push.

The benchmark KOSPI rose 13.06 points, or 0.48%, to 2,706.63 by 0147 GMT.

Australian shares ticked lower on Thursday as financials dragged, offseting the gains in commodity stocks following a rebound in most underlying prices, while investors exercised caution ahead of key central banks’ interest rate decisions.

The S&P/ASX 200 index inched down 0.1% at 7,721.3 by 0024 GMT. The benchmark rose 0.2% on Wednesday.

The Reserve Bank of Australia and the U.S. Federal Reserve are both scheduled to hold their respective monetary policy meetings next week, with markets expecting each central bank to hold its cash rate at its current level.

A gauge of global stock markets edged lower and U.S. Treasury yields rose modestly on Wednesday, as investors looked to the next round of data on inflation and consumer health for clues on the direction of Federal Reserve policy.

The S&P 500 fell slightly from its record close, weighed down by weakness in the tech sector.

The inflation data did little to alter expectations that the Federal Reserve will cut interest rates by at least 25 basis points (bps) at its June meeting, but gave a boost to U.S. Treasury yields, a trend which continued on Wednesday.

Investors will get another round of inflation data in the form of the U.S. producer price index (PPI) on Thursday, along with data on consumer spending and the labor market, before next week’s Fed policy meeting.

On Wall Street, the rise in yields weighed on tech stocks and pulled the Nasdaq lower. The Dow Jones Industrial Average rose 37.83 points, or 0.10%, to 39,043.32, the S&P 500 lost 9.96 points, or 0.19%, to 5,165.31 and the Nasdaq Composite lost 87.87 points, or 0.54%, to 16,177.77.

MSCI’s gauge of stocks across the globe fell 0.39 points, or 0.05%, to 775.32, after climbing within 0.15% of an intraday record.

The STOXX 600 index closed up 0.16%, adding to its record level, aided by retail stocks, while Europe’s broad FTSEurofirst 300 index rose 3.83 points, or 0.19%.