Sensex Today | Share Market Live Updates: Sensex gains 350 pts; Nifty above 21,600; Zee slumps 10%

The company has signed two memorandum of understanding (MoUs) with the Tamil Nadu government to invest over ₹3,400 crore in the state over the next 3-4 years.

The company’s board has approved the proposal for buyback of up to 4,000,000 shares of face value of ₹10 each at a price of ₹10,000 per share for a total consideration not exceeding ₹4,000 crore.

Zee Entertainment’s shares plunged 10% in opening deals on Tuesday after reports suggested its proposed merger with Sony Group was likely to be called off.

Stocks to Watch today: Bajaj Auto, Aurobindo Pharma, Tata Motors, Cipla, BEML. Balrampur Chini Mills, Bandhan Bank, Chambal Fertilisers, Delta Corp, Escorts, GNFC, Hindustan Copper, Indian Energy Exchange, India Cements, Nalco, Piramal Enterprises, SAIL, and ZEEL are part of the F&O ban for Tuesday

Oil prices showed signs of stabilization following a decline in the previous session. This steadying of prices comes as markets balance concerns over tensions in the Middle East, demand uncertainties, and an increase in supply from OPEC.

Brent crude futures climbed 18 cents, or 0.2%, to reach $76.30 per barrel. West Texas Intermediate crude futures saw a slight uptick, rising 6 cents, or 0.1%, to stand at $70.83 per barrel.

Bloomberg Index Services on Monday proposed including eligible Indian bonds in its emerging market local currency index from September, a move that could lead to billions of dollars of inflows into the country.

The proposal comes just a few months after JPMorgan said it would include India in its widely tracked emerging market debt index from June. (Reuters)

Mutual funds may get to invest in companies traded in Gujarat’s Gift City exchanges beyond the normal cap that applies for their overseas investments. The move comes at a time the government is opening up the special economic zone for direct listing of Indian firms. (Read more)

“Nifty after the small pullback, once again witnessed a big bearish candle with heavy profit booking seen to erode the gains and has arrived near the crucial support zone of 21,500 levels with bias turning cautious. The next important support level would be near 21,350 levels of the lower band of the ascending channel pattern on the daily chart below which the bias and sentiment shall turn weak and with the result season beginning, we anticipate volatility and fluctuations in the market.”

“Bank Nifty tanked heavily losing more than 700 points and closing near 47,450 levels with all the major frontline banking stocks shedding their gains. With the index eroding heavily, the bias has turned a little bit cautious with the next major support zone maintained near 46,300 levels,” said Parekh.

Parekh recommended three intraday stocks for today — Hemisphere Properties, VETO Switch Gears, and Redington.

Indian stock indices may open flat tracking Gift Nifty that was trading at 21,692.5, down 9 points. Asian stock markets may offer some support as most indices recorded gains on the heels of a tech-driven surge on Wall Street.  

Sensex and Nifty fell sharply on Monday amid volatile trade and as lacklustre business updates hinted at weak quarterly results. Sensex ended at 71,355.22, down 671 points and Nifty closed 0.9% lower at 21,513.

Asia’s stock indices were mostly higher Tuesday after a tech-led surge on Wall Street. Investors await the next set of U.S inflation numbers due this week, which could hint at when the Federal Reserve might start cutting interest rates.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.5%, after U.S. stocks ended the previous session with gains.