Sensex Nifty Today, Share Market Live: A day after stock market lost its 4-day winning streak, Indian benchmark indices opened flat on Wednesday, March 6. Sensex started the day’s trade at 89.43 points, or 0.12 per cent lower at 73587.80 while Nifty opened 28.80 points, or 0.13 per cent in red at 22,327.50.
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However, the indices made a sharp recovery during the later hours of trade.
Asian indices remained largely in negative territory. The Japanese index closed 6.85 points, or 0.02 per cent higher at 40,090.78 while South Korea’s Kospi inched 0.30 per cent to trade 2,641.49.
International crude oil prices continue to soar high as Chinese growth worry clash with output cuts. US WTI is trading at $78.72 a barrel while Brent is trading 0.60 per cent higher at 82.53.
MCX futures for gold and silver are trading marginally lower on Wednesday. Crude oil climbed by Rs 31 to 6,500 a barrel on Wednesday.
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Share Market Live Updates: “Our markets are displaying immense strength at this moment as a slight tremor in US markets last night could not shake us. In the initial hour, the broader market was sulking a bit; but initially banking came for rescue and later on, it was the IT space that pulled our benchmark from lower levels. As a result, the Sensex not only reached a milestone of 74000 but managed to close above this psychological mark for the first time ever,” Sameet Chavan, Head Research, Technical and Derivative, Angel One.
“As of now, we are shrugging off US markets and some of the global developments, but it’s advisable not to get complacent at such elevated levels. Every now and then, we would see some reality checks in the markets, which may catch traders on the wrong foot. Hence, although the undertone is strongly bullish, traders are advised to stay nimble and should ideally follow a stock centric approach.”
Share Market Live Updates: Shares of crisis-hit JM Financial closed Wednesday’s session 9.95 points, or 10.42 per cent lower at 85.50.
Share Market Live Updates: Sensex advanced 408.86 points, or 0.55 per cent to close at 74,085.99 while Nifty has nudged 117.75 points, or 0.53 per cent to settle at 22,474.05.
Share Market Live Updates: Shares of Tata Motors, is 4.65 points, or 0.46 per cent down at 1,017.25.
Share Market Live Updates: Stagnating global palm oil production and higher biodiesel mandates are likely to curb supplies of the world’s most used vegetable oil this year.
Palm oil output in Indonesia and Malaysia, which account for a bulk of global production, is likely to either rise marginally in 2024 or decline from last year’s level, as ageing plantations and a lack of expansion caps output.
“Vegetable oil prices will be supported by the prospective global production deficit,” leading industry analyst Thomas Mielke said.
Palm oil inventories in the world’s No. 1 producer Indonesia are low and stockpiles in the second-largest producer Malaysia are declining, he added.
-From Reuters
Share Market Live Updates: Crude oil prices on Wednesday climbed Rs 31 to Rs 6,512 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for March delivery traded higher Rs 31 or 0.48 per cent at Rs 6,512 per barrel in 4,532 lots.
-From PTI
Share Market Live Updates: Shares of Tata Chemicals have advanced 106.10 points, or 10.00 per cent at 1,167.40.
Share Market Live Updates: At 2 pm, Indian benchmark indices have recovered from their lows.
Sensex is trading 124.31 points, or 0.19 per cent at 73,808.24 while Nifty is trading 29.25 points, or 0.15 per cent at 22,386.55.
Share Market Live Updates: Nifty FMCG is trading 299.70 points, or 0.56 lower per cent at 53,350.15
Share Market Live Updates: National Payments Corporation of India (NPCI) has announced a long-term agreement with the Indian Institute of Science (IISc), Bangalore, for conducting joint research on blockchain and Artificial Intelligence (AI) technology.
The collaboration will also propel further innovation through the establishment of the ‘NPCI-IISc Centre of Excellence (CoE) for Deep Tech Research & Development’.
The partnership will focus on scalable blockchain platforms and multi-modal analytics over fintech data, NPCI said in a statement.
-From PTI
Share Market Live Updates: “The central banks are buying more than 1,000 tons of gold consecutively from last two years versus the historic average of 300 (tons). This has made-up for all the loss in the retail and ETF demand,” said Kunal Shah, head of research, Nirmal Bang Commodities.
-From Reuters
Share Market Live Updates: MCX gold futures for April delivery are trading 0.11 per cent lower at 64,772 per 10 gram.
Silver price for May delivery are trading at 0.07 per cent lower at 73,320 per kg.
Share Market Live Updates: JM Financial shares continued its downward slide for the second consecutive session and tanked over 19 per cent. The slide in share price comes after the Reserve Bank imposed restrictions on group firm JM Financial Products Ltd owing to “manipulative practices”.
The stock tumbled 19.29 per cent to Rs 77.10 on the BSE. At the NSE, it plummeted 18.75 per cent to Rs 77.55.
The company’s market capitalisation (mcap) declined by Rs 1,484.53 crore to Rs 7,643.63 crore.
Share Market Live Updates: Gold reached a historic high fueled by increased speculation of an imminent interest-rate cut by the US Federal Reserve in June.
The focus now turns to Federal Reserve Chairman Jerome Powell’s two-day congressional testimony this week, set against the backdrop of crucial jobs data.
“We expect gold to trade lower towards 64600 levels, a break of which could prompt the price to move lower towards 64460 levels,” says Saish Sandeep Sawant Dessai, Analyst, base metals, Angel One Ltd.
Share Market Live Updates: Nifty IT is trading at 446.10 points, or 1.22 per cent lower at 36,272.30.
Share Market Live Updates: JSW Steel has appointed Robert Simon as CEO of its US subsidiary.
JSW Steel is trading 15.70 points, or 1.92 per cent lower at 803.50
Share Market Live Updates: Shares of One97 Communications, the parent company, are trading 15.85 points, or 3.92 per cent lower at 388.30.
Share Market Live Updates: RBI said issuers of credit cards shall not enter into any arrangement with card networks that restrain customers from availing the services of other networks.
“On a review, it is observed that some arrangements existing between card networks and card issuers are not conducive to the availability of choice for customers,” the Reserve Bank of India (RBI) said in a circular.
-From PTI
Share Market Live Updates: Nifty Bank is trading 430.80 points, or 0.94 per cent at 48,982.25
Share Market Live Updates: Indian rupee has opened flat at 82.90/$ against Tuesday’s close.
Share Market Live Updates: As per media report, Zomato’s 2.2% equity worth Rs 3,112 crore has changed hands.
Shares of Zomato are trading at 5.55 points, or 3.35 per cent at 160.30.
Stock Market Today Live: Sensex, Nifty open flat – The Indian Express
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