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Share Market Closing Note
Sensex ends atop 74,000, Nifty 22,450 for 1st time; Smallcap index down 2%:
Equity benchmarks staged a smart recovery in the last hour of trade, helping these indices hit fresh record highs, amid a sharp swing in banking and financial shares. That apart, liquidity-related cues from China aided sentiment.
Chinas central bank governor said there was room to further cut banks reserve requirements. This is part of Beijings broader economic policy adjustments so the economy can hit its growth target of around 5 per cent for the year.
The S&P BSE Sensex, which stayed in the negative zone for the better part of the day, closed 409 points, or 0.55 per cent, higher at 74,086 levels. The Nifty50, too, surpassed the 22,450-mark to end at 22,474, up 118 points or 0.53 per cent.
The BSE benchmark hit a record high of 74,151, while the Nifty50 claimed 22,497 intraday.
Kotak Bank, Axis Bank, Sun Pharma, Bharti Airtel, ICICI Bank, IndusInd Bank, HCL Tech, Titan, TCS, L&T, and M&M were the top gainers today, surging up to 2.45 per cent.
In the broader markets, the BSE MidCap and the BSE SmallCap indices, however, stayed in the profit-booking zone with the indices down 0.65 per cent and 1.9 per cent , respectively.
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Topic :- Time:3.00 PM
Nifty spot if manages to hold and close above 22420 level then expect some further upmove in coming sessions and if it closes below above mentioned level then some sluggish move can follow. Avoid open short positions for tomorrow.
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Topic :- Time:2.00 PM
Nifty now turned in green following banknifty foot steps. Nifty spot if manages to trade and sustain above 22400 level then expect some further upmove in the market and if it breaks and trade below 22360 level then some decline can be seen. Currently Nifty spot is at 22393.
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Topic :- Time:1.55 PM
Just In:
Ajmera Realty secures ₹500-crore credit facilities for Mumbai residential project.
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Topic :- Time:1.30 PM
GOLD Trading View:
GOLD is trading at 64815. If it breaks and trade below 64780 level then expect some decline in the market and if it manages to trade and sustain above 64880 level then some upmove can be seen.
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Topic :- Time:1.10 PM
Just In:
Reliance Cap lenders advisors ask Hindujas to submit resolution plan by Mar-end
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Topic :- Time:1.00 PM
Nifty is in no trading zone. Nifty and Midcaps are falling whereas banknifty is only rising. Traders are advice to wait for clear direction before taking big positions. Wait and watch should be approach right now.
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Topic :- Time:12.55 PM
Just In:
RBIs recent crackdown on NBFCs raises concerns over asset quality and risk management
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Topic :- Time:12.55 PM
Just In;
The IPO of Kerala-based automobile dealer #PopularVehicles & Services opens for bidding on March 12.
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Topic :- Time:12.30 PM
COPPER Trading View:
COPPER is trading at 727. If it manages to trade and sustain above 728.40 level then expect some upmove in it and if it breaks and trade below 726.20 level then some decline can be seen in it.
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Topic :- Time:12.00 PM
Nifty spot is trading at 22234 minus 122 points and Banknifty spot is trading at 47993 plus 413. Any side move is possible from here. Nifty spot if manages to trade and sustain above 22240 level then expect some upmove and if it breaks and trade below 22200 level then some decline can be seen in the market.
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Topic :- Time:11.30 AM
News Wrap Up:
1. Nifty Media, IT and metal indices worst hit
2. Zomato dips 4% as Ant likely sells Rs 3,000 cr stake via block deal
3. RBI issues directions for issuance of credit cards
4. Blackstone wants to double India warehouses
5. Sebi may take action against JM Financial for its alleged role in inflating IPO subscription numbers
6. Greeces Eurobank eyes presence in India
7. DBS CEOs total pay dropped 27% in 2023
8. BHEL bags order worth Rs 9,500 cr
9. Fairfax India agrees to offer up to $200-million liquidity support to IIFL Finance
10. Vodafone Idea meets 5G minimum roll-out obligations in 4 circles
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Topic :- Nifty Opening Note
Indian Stock Market Trading View For 06 Mar,2024:
Flat opening expected today in Nifty. Nifty is likely to remain sideways in fist half. Nifty spot if manages to trade and sustain above 22400 level then expect some upmove and if it breaks and trade below 22300 level then some decline can be seen in the market. Please note this is just opening view and should not be considered as the view for the whole day.
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