Good afternoon!
On Tuesday, the BSE benchmark Sensex tanked over 1,000 points and the NSE Nifty cracked below the key 17,000-level, extending their losses to the fifth session in a row triggered by the Russia-Ukraine standoff.
Here’s a look at the latest updates of the market today!
3:30 pm: Sensex ends 68 points lower at 57,232 and Nifty falls 29 points to 17,063.
2:59 pm: Sensex set to close in the green after five sessions of losses. Index trading 196 points higher at 57,496 and Nifty gains 35 points to 17,127.
2:02 pm: Market cap of BSE listed firms stands at Rs 256.29 crore.
1:40 pm: Markets likely to fall further before gaining ground, says Motilal Oswal
Stock markets globally are on tenterhooks on account of the ongoing geopolitical tensions emanating from Russia’s movement in the Ukraine region and the Indian market is no exception.
Market veteran Motilal Oswal believes that markets tend to “overreact to geopolitical events” but adds that Indian stock market could fall between 5 per cent and 10 per cent depending on the manner the Russia-Ukraine tussle pans out.
However, a situation of a full-scale invasion on Ukraine by Russia is a low probability one, he adds. READ MORE
1: 16 pm: Market check
Sensex rises 254 points to 57,555 and Nifty gains 80 points to 17,170.
12: 48 pm: LIC IPO on track despite volatility, says FM
Finance minister Nirmala Sitharaman said on Tuesday the government will go ahead with the planned initial public offering (IPO) of Life Insurance Corp. of India (LIC), even as global markets are affected by Russian forces gathering near Ukraine’s borders.
12:38 pm: India VIX falls 7.61% to 24.64, signalling reduction in volatility on Dalal Street in afternoon session.
12:20 pm: Dilip Buildcon stock surges 6% on bagging NHAI order in Chhattisgarh
Shares of Dilip Buildcon rose 6% in early trade today after the firm said it has won an order for a road project order in Chhattisgarh worth Rs 1,141 crore.
Dilip Buildcon stock rose 5.7% to Rs 284.85 against the previous close of Rs 269.40 on BSE. The stock has gained after four days of consecutive fall.
Dilip Buildcon has been declared as L-1 bidder for a new Hybrid Annuity Model (HAM) project under Raipur-Visakhapatnam in the state of Chhattisgarh, order worth Rs 1,141 crore. READ MORE
11:50 am: Market check
The benchmark indices were trading higher amid mixed global cues. Equity benchmark Sensex jumped over 300 points to 57,624 and Nifty was up 87 points to 17,179.
Kotak Mahindra Bank and Titan were the top gainers on NSE.
All the sectoral indices were trading in the green.
ONGC was the top loser on Sensex, declining over 2 per cent.
11:00 am: Cryptocurrency prices today
The world’s largest cryptocurrency Bitcoin rose over 3% today as Asian stocks rebounded amid the ongoing Russia- Ukraine conflict. The price of Bitcoin gained 3.69% to $38,015 on Coinmarketcap.
The market cap of the cryptocurrency rose to $721.940 billion. Currently, the global crypto market cap stands at $1.72 trillion, a rise of 4.58%.
Other cryptocurrencies were also trading in the green today.
Ethereum climbed 5.29% to $2,651 and Dogecoin gained 4.78% to $0.1315.
Digital token Stellar rose 6.65% to $0.186 and Litecoin added 5.32% to $107.65.
10:30 am: Crompton Greaves stock rises 4.5% on acquiring Butterfly Gandhimathi
Shares of Crompton Greaves Consumer Electricals rose over 4% in early trade today after the firm inked definitive agreements to acquire up to 55% stake in Butterfly Gandhimathi Appliances at Rs 1,403 per equity share.
Crompton Greaves Consumer Electricals stock gained 4.69% to Rs 396.35 against the previous close of Rs 378.60 on BSE.
10:00 am: Nykaa shares jump 3%
Shares of Nykaa were trading higher in early trade on Wednesday after the company that its litigation with L’Oreal S.A. has been settled. It had disclosed the details of pending litigation with L’Oreal S.A. in its IPO prospectus.
9:16 am: Market opening
Equity benchmark Sensex jumped over 300 points to 57,609.32 and Nifty opened over 100 points higher at 17,194.
Kotak Mahindra Bank and M&M were the top gainers on Sensex, followed by Bajaj Finance, SBI, Titan, IndusInd Bank and Asian Paints.
L&T was the top loser on Sensex.
8:40 am: Global updates
Wall Street’s main indices fell on Tuesday, with the S&P 500 confirming a correction, as the Ukraine-Russia crisis kept investors on the edge after Russian President Vladimir Putin recognised two breakaway regions in the country and ordered troops to the area.
The Dow Jones Industrial Average fell 482.57 points, or 1.42 percent, to 33,596.61, the S&P 500 lost 44.11 points, or 1.01 percent, to 4,304.76 and the Nasdaq Composite dropped 166.55 points, or 1.23 percent, to 13,381.52.
South Korea’s Kospi climbed 0.3 percent in morning trade. Markets in Japan are closed on Wednesday for a holiday.
8:35 am: FII and DII action
Foreign institutional investors (FIIs) sold shares worth Rs 3,245.52 crore on February 22, and domestic institutional investors (DIIs) bought shares worth Rs 4,108.58 crore, as per provisional data available on NSE.
8:30 am: SGX Nifty
The Indian equity market is likely to open on a positive note as SGX Nifty was up 42 points at 17,245.
The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
8:15 am: Market on Tuesday
Indian benchmark indices ended lower for the fifth straight session amid an escalation of tensions between Russia and Ukraine.
Sensex plunged 383 points to close at 57,300 on Tuesday, tracking massive selloffs in global markets.
In early trade, the 30 stock index plunged1,289 points. Nifty closed 114.45 points or 0.67 per cent lower at 17,092.20.
On Sensex, Tata Steel, TCS and SBI were the top losers falling up to 3.64 per cent. Of the 30 Sensex stocks, 20 closed in the red.
This news is republished from another source. You can check the original article here
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