Sensex Today | Share Market Live Updates: Benchmarks up in volatile trading, Sensex at 73,880, Nifty at 22,400

Sensex Today Live : The Adani Group has started promoting a bond sale worth $409 million, marking its first dollar note offering since a report by Hindenburg Research last year. This move indicates a resurgence in investor trust. The group’s solar power division, Adani Green Energy Ltd., along with its affiliated companies, are proposing an 18-year note with an initial price guidance around 7.125%, as per an anonymous source who is privy to the details but wishes to remain unidentified due to the confidential nature of the information. (Read the full story here.)

Sensex Today Live : Sector View: Attractive

Key takeaways on deposit trends

The key takeaways on deposits:

(1) the market share split between public banks and private banks is ~60:35

(2) households dominate deposits at ~60%

(3) public banks have ~70% share of their deposits coming from households, while for private banks it is 55%

(4) there is a marginal shift in government deposits to private banks, while the share in corporate and household remains unchanged

(5) private banks have ~85% of their deposits coming from metro/urban regions, while that for public banks it is 70%

(6) the share of individual and non-individual deposits is unchanged at ~50%

Individual deposits are higher for public and non-individual share is higher for private banks

Sensex Today Live : 11 Indian benchmark indices were continuing their volatile way up, after having erased early gains on Monday.

At 11 am, Sensex was down 32.23 points, or 0.04%, at 73,773.92, and Nifty was up 43 points, or 0.01%, at 22,381.75.

Sensex Today Live : Global ratings agency Moody’s has revised its GDP growth forecast for India in 2024 to 6.8%, up from the previous estimate of 6.1%. Furthermore, the agency predicts a GDP growth rate of 6.4% for India in 2025, a slight increase from the earlier projection of 6.3%.

Moody’s stated, “As global headwinds subside, we anticipate the Indian economy to comfortably achieve a real GDP growth of 6-7%. Consequently, we project a growth rate of approximately 6.8% for the calendar year 2024, followed by 6.4% in 2025. The robust growth outcomes in 2023 can be attributed to significant government capital expenditure and strong manufacturing activity. We foresee policy consistency post the general elections and a continued emphasis on infrastructure development. Considering the robust growth dynamics and inflation exceeding the 4% target, we do not anticipate any policy easing in the near future.” In Q3FY24, India’s GDP growth surged to 8.4%.

Sensex Today Live : Under the leadership of CEO Sudhir Sitapati, Godrej Consumer Products Ltd (GCPL) is anticipated to outperform its peers in terms of earnings growth. The company is strategically enhancing its portfolio in India and abroad. A key part of this strategy is strengthening the financial standing of the GAUM (Godrej Africa, USA, and Middle East) segment, which contributed over 24% to GCPL’s consolidated revenue in the nine months ending December (9MFY24).

To achieve this, GCPL is restructuring its business model in Eastern Africa. It has recently declared the divestment of its stake in its wholly-owned subsidiary, Godrej East Africa Holdings Ltd, Mauritius, along with its step-down subsidiaries. This move comes in light of the negative sales growth and reduced profitability witnessed in the Eastern Africa business. (Read the full story here.)

Sensex Today Live 

– Long : Short Ratio is at 35% : 65%

– VIX at 14.99

– FIIs outlook positive for indices & FnO stocks

– Highest OI for Nifty is at 23000 CE & 22000 PE each with more than 1.45 L contracts indicating a trading range of 22000 to 23000

– Immediate support in range of 22300/200 & resistance at 22450/500

– All spot levels

View: Nifty at all time highs is on expected lines. Positional view is positive to test 23,000 as long as 22,000 holds

Actionable (Intraday): Buy on small declines towards 22300 with 22200 & TGT 22500/600 (spot levels)

Sensex Today Live : Whether it’s apples, cashews, or even weather patterns, you might soon have the opportunity to trade based on their prices on an exchange platform. Finance ministry’s recent decision to broaden the range of commodity derivatives that can be traded on national stock exchanges will soon enable this.

The finance ministry has added 13 new commodities to the list of tradable derivatives. This list includes manganese, various types of freight (road, shipping, and airways), weather, cement, bitumen, apple, cashew, garlic, skimmed milk powder, white butter, timber, bamboo, and palladium. The objective of this expansion is to offer a more diverse price risk management mechanism to Indian companies and other market participants. (Read the full story here.)

Sensex Today Live : Indian benchmark indices had erased early gains to slip into the red on Monday.

At 10 am, Sensex was down 7.63 points, or 0.01%, at 73,798.52, and Nifty was down 31.35 points, or 0.04%, at 22,370.

Sensex Today Live : Real estate firm Signature Global announced on Sunday that it has sold over 1,000 apartments in its luxury housing project in Gurugram, generating more than ₹3,600 crore. This success is attributed to the robust demand for residential properties, particularly in the luxury segment. In a regulatory filing, the company disclosed that it has achieved pre-launch sales exceeding ₹3,600 crore for its latest premium residential development project, ‘DE LUXE-DXP’, located in Sector 37D of Gurugram.

Sensex Today Live : The real estate developer has finalized agreements to construct a township project in North Bengaluru. The project, which spans across a 62-acre land parcel, will operate under a profit-sharing model. It is expected to provide 5.6 million square feet of saleable area and is projected to have a booking value of ₹5,000 crore. The company anticipates initiating the first phase of development on this land in the forthcoming fiscal year.

Sensex Today Live : Across sectors, Media, Consumer Durables, Metal, FMCG, Auto and IT stocks were under selling pressure. 

Sensex Today Live : The broader market was under some pressure, with the MidCap index down marginally, and the SmallCap index down 0.34%.

Sensex Today Live : JSW Steel, Tata Steel, Eicher Motors, Tata Consumer Products and Titan, were under pressure on the Nifty, while NTPC, Power Grid Corp., Bajaj Auto, Adani Ports & SEZ, and Coal India, were leading the charts. 

Sensex Today Live : NTPC, Power Grid Corp., Sun Pharma, Airtel, and Maruti Suzuki India, were leading on the Sensex, while Tata Steel, JSW Steel, HCL Tech, Titan and TCS, were under pressure. 

Sensex Today Live : Indian benchmark indices opened in the green on Monday, led by positive cues from global peers.

At opening bell, Sensex was up 153.60 points, or 0.21%, at 73,959.75 and Nifty was up 62.25 points, or 0.1%, at 22,401.

Indian benchmark indices were green at pre-open on Monday, following a rally in global markets with the Japanese Nikkei breaching the 40,000-mark for the first time.

Sensex was up 96.94 points, or 0.13%, at 73,903.09 and Nifty was up 25.10 points, or 0.11%, at 22,403.50 during pre-open.

Sensex Today Live : Market analysts have noted that the Nifty 50 index has surpassed the significant threshold of 22,200 and is on track to reach the 22,500 mark. They further added that the overall market trend is bullish and projected that this upward trend could potentially elevate the Nifty 50 index to the 22,800 level. Regarding stock recommendations for today, experts have identified four stocks — Glenmark Pharmaceuticals, Data Patterns, Birlasoft, and IEX — as potential buys or sells. (Read the full story here.)

Sensex Today Live : Last month, the primary market saw significant activity with numerous listings in both the main board and the SME segments, keeping investors busy with subscriptions and listings. As we move into the first week of March, the market continues to buzz with new listings and IPOs open for subscription.

Currently, the IPOs of Mukka Proteins and M.V.K. Agro Food are open and will close for bidding on March 4. This week also sees several companies opening for subscription, along with a few that are set to be listed on the stock exchanges. (Read the full story here.)

Sensex Today Live : The Sensex rose by 60.80 points, marking a 0.08% increase, and ended at 73,806.15. Concurrently, the Nifty 50 saw an uptick of 39.65 points or 0.18%, closing at 22,378.40.

Santosh Meena, Head of Research at Swastika Investmart Ltd, commented on the market trends. He noted that the Nifty is regaining its bullish momentum following a two-month consolidation phase. He identified 22,500 as the immediate target level, with 22,750 being the subsequent target. He also highlighted that Banknifty is gathering momentum and is poised to outperform in the future. He pointed out that 47,500 is an immediate obstacle; surpassing this could lead to a surge towards 48,000 / 48,800 levels. (Read the full story here.)

Sensex Today Live : On Monday, the domestic equity indices are anticipated to start on an upbeat note, influenced by encouraging signals from global markets. Asian markets, including Japan’s Nikkei 225 which surpassed the 40,000 mark for the first time, traded in the green. Concurrently, US stock market indices reached new record highs, setting the stage for a week that includes a congressional testimony by Jerome Powell, the US Federal Reserve chair, and China’s National People’s Congress.

Globally, investors’ attention will be drawn to China’s “Two Sessions” meetings commencing today. These simultaneous annual meetings involve China’s legislature, the National People’s Congress, and the Chinese People’s Political Consultative Conference. (Read the full story here.)

Sensex Today Live : Gift Nifty futures were trading nearly 150 points ahead of Nifty’s Saturday’s special live trading session’s close of 22,378.40, indicatating a strong start for the Indian markets.

Asian share markets firmed on Monday as the Nikkei reached another new high and investors braced for a week packed with central bank events and major data that will refine market wagers for when interest rates will start falling.

Japan’s benchmark Nikkei index surpassed the 40,000 mark for the first time on Monday following gains on Wall Street.

The Nikkei added 0.84 percent, or 334.87 points, to 40,245.69 shortly after the opening bell, while the broader Topix index rose 0.30 percent or 8.07 points to 2,717.49.

MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.2%, after snapping a five-week winning streak with a slight drop last week.

S&P 500 futures and Nasdaq futures were trading near flat, having made record closing highs on Friday on upbeat earnings and enthusiasm for all things AI.

Brent rose 2 cents to $83.57 a barrel, while U.S. crude edged down 5 cents to $79.92 per barrel.