Informist, Thursday, Mar 2, 2023
By Neeshita Beura
MUMBAI – Tracking its global peers, the Indian equity market ended lower today. Two of the major US benchmark indices--S&P 500 and NASDAQ Composite ended lower on Wednesday. Official US data showed that prices of raw materials had risen in February, indicating that inflation will remain high. In addition to that, US manufacturing activity shrank for the fourth consecutive month amid contractions in output and new orders. Both data combined reignited fears of further rate hikes by the US Federal Reserve.
After US Federal Reserve officials made it clear that further rate hikes were in store amid continuing inflation, most Asian equity indices also fell. On Wednesday, Minneapolis Federal Reserve President Neel Kashkari made it clear that the Federal Reserve would "continue doing what we're doing until we finish the jobs, and I'm committed to doing that".
Headline inflation in Europe, however, came in at 8.5% in February, according to preliminary data released today indicating a cool-off in prices. European indices still traded lower since the data was above the estimated 8.2%, according to reports.
In the Indian market, the Nifty 50 ended 0.7% lower at 17321.90 points today, and the Sensex ended 0.8% lower at 59909.35 points.
While being heavily affected by global cues, the Indian equity market erased Wednesday's gains dragged by Nifty IT, Nifty Auto, and Nifty Financial Services, which were some of the worst performers in sectoral indices today.
All Adani Group companies ended higher on multiple large deals. Shares of all Adani Group stocks extended gains from Wednesday and ended in the green, after several stocks of the conglomerate witnessed block deals on the bourse today. According to media reports, Adani Enterprises saw block deals of nearly 39 mln shares, which is 3.5% of its equity, on the exchange today. The deal was worth around 55.2 bln rupees. Adani Wilmar, Adani Green, Adani Power, and Adani Total Gas hit a 5% upper circuit.
Adani Ports and Special Economic Zone emerged as the top gainer on the Nifty 50 today. Meanwhile, shares of Maruti Suzuki India were the worst hit due to the management's negative commentary. The company which reported its February sales data on Wednesday said that export sales fell in February due to a delay in shipment. Going forward, rising loan rates and sticky inflation could also hit demand for its products. Moreover, the company believes that rural sales could get affected due to El nino, although it is expected to recover eventually.
There is a lot of pessimism in the market due to concerns about more rate hikes and high inflation levels, said Shrikant Chouhan, head of equity research at Kotak Securities. "For Nifty, 17300-17250 would be the immediate support zone while 17450-17500 would act as a crucial resistance zone for the traders", he added.
* Among Nifty 50 stocks, 15 rose and 35 fell
* Among Sensex stocks, 6 rose and 24 fell
* On the BSE, 1,585 stocks rose, 1,876 fell, and 143 unchanged
* On the NSE, 943 stocks rose, 1,308 fell, and 485 unchanged
* Nifty Realty: Up 2.1%; Nifty IT: Down 1.3%; Nifty Auto: Down 0.9%
BSE NSE
Sensex: 58909.35, down 501.73 pts or 0.84% Nifty 50: 17321.90, down 129.00 pts or 0.74%
S&P BSE Sensitive Index Nifty 50
Lifetime High: 63583.07 (Dec 1, 2022) : Lifetime High: 18887.60 (Dec 1, 2022)
Record Close High: 63284.19 (Dec 1, 2022) : Record Close High: 18812.50 (Dec 1, 2022)
2023 1st day close: 61167.79 (Jan 2) : 2023 1st day close: 18197.45 (Jan 2)
2023 Closing High: 61167.79 (Jan 2) : 2023 Closing High: 18197.45 (Jan 2)
2023 Closing Low: 59288.35(Feb 27) : 2023 Closing Low: 17311.80 (Oct 17)
2023 High (intraday): 61222.79 (Jan 2) : 2023 High (intraday): 18215.15 (Jan 2)
2023 Low (intraday): 58699.20 (Jan 30) : 2023 Low (intraday): 17098.55 (Oct 17)
2022 1st day close: 59183.22 (Jan 3) : 2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 63284.19 (Dec 1) : 2022 Closing High: 18812.50 (Dec 1)
2022 Closing Low: 51360.42 (Jun 17) : 2022 Closing Low: 15293.50 (Jun 17)
2022 High (intraday): 63583.07 (Dec 1) : 2022 High (intraday): 18887.60 (Dec 1)
2022 Low (intraday): 50921.22 (Jun 17) : 2022 Low (intraday): 15183.40 (Jun 17)
2021 Closing High: 61305.95 (Oct 14) : 2021 Closing High: 18338.55 (Oct 14)
2021 Closing Low: 46285.77 (Jan 29) : 2021 Closing Low: 13634.60 (Jan 29)
2021 High (intraday): 61353.25 (Oct 14) : 2021 High (intraday): 18350.75 (Oct 14)
2021 Low (intraday): 46160.46 (Jan 29) : 2021 Low (intraday): 13596.75 (Jan 29)-
2020 Closing High: 47751.33 (Dec 31) : 2020 Closing High: 13981.95 (Dec 30)
2020 Closing Low: 25981.24 (Mar 23) : 2020 Closing Low: 7610.25 (Mar 23)
2020 High (intraday): 47896.97 (Dec 31) : 2020 High (intraday): 14024.85 (Dec 31)
2020 Low (intraday): 25638.90 (Mar 24) : 2020 Low (intraday): 7511.10 (Mar 24)
2019 High (intraday): 41809.96 (Dec 20) : 2019 High (intraday): 12293.90 (Dec 20)
2019 Low (intraday): 35287.16 (Feb 19) : 2019 Low (intraday): 10583.65 (Jan 29)
2018 High (intraday): 38938.91(Aug 28)) : 2018 High(intraday): 11760.20 (Aug 28)
2018 Low (intraday): 32483.8 (Mar 23) : 2018 Low (intraday): 9951.9 (Mar 23)
2017 High (intraday): 34005.37 (Dec 26) : 2017 High(intraday): 10515.10 (Dec 26)
End
Edited by Vidhi Verma
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2023. All rights reserved.
Informist, Thursday, Mar 2, 2023
By Neeshita Beura
MUMBAI – Tracking its global peers, the Indian equity market ended lower today. Two of the major US benchmark indices--S&P 500 and NASDAQ Composite ended lower on Wednesday. Official US data showed that prices of raw materials had risen in February, indicating that inflation will remain high. In addition to that, US manufacturing activity shrank for the fourth consecutive month amid contractions in output and new orders. Both data combined reignited fears of further rate hikes by the US Federal Reserve.
After US Federal Reserve officials made it clear that further rate hikes were in store amid continuing inflation, most Asian equity indices also fell. On Wednesday, Minneapolis Federal Reserve President Neel Kashkari made it clear that the Federal Reserve would "continue doing what we're doing until we finish the jobs, and I'm committed to doing that".
Headline inflation in Europe, however, came in at 8.5% in February, according to preliminary data released today indicating a cool-off in prices. European indices still traded lower since the data was above the estimated 8.2%, according to reports.
In the Indian market, the Nifty 50 ended 0.7% lower at 17321.90 points today, and the Sensex ended 0.8% lower at 59909.35 points.
While being heavily affected by global cues, the Indian equity market erased Wednesday's gains dragged by Nifty IT, Nifty Auto, and Nifty Financial Services, which were some of the worst performers in sectoral indices today.
All Adani Group companies ended higher on multiple large deals. Shares of all Adani Group stocks extended gains from Wednesday and ended in the green, after several stocks of the conglomerate witnessed block deals on the bourse today. According to media reports, Adani Enterprises saw block deals of nearly 39 mln shares, which is 3.5% of its equity, on the exchange today. The deal was worth around 55.2 bln rupees. Adani Wilmar, Adani Green, Adani Power, and Adani Total Gas hit a 5% upper circuit.
Adani Ports and Special Economic Zone emerged as the top gainer on the Nifty 50 today. Meanwhile, shares of Maruti Suzuki India were the worst hit due to the management's negative commentary. The company which reported its February sales data on Wednesday said that export sales fell in February due to a delay in shipment. Going forward, rising loan rates and sticky inflation could also hit demand for its products. Moreover, the company believes that rural sales could get affected due to El nino, although it is expected to recover eventually.
There is a lot of pessimism in the market due to concerns about more rate hikes and high inflation levels, said Shrikant Chouhan, head of equity research at Kotak Securities. "For Nifty, 17300-17250 would be the immediate support zone while 17450-17500 would act as a crucial resistance zone for the traders", he added.
* Among Nifty 50 stocks, 15 rose and 35 fell
* Among Sensex stocks, 6 rose and 24 fell
* On the BSE, 1,585 stocks rose, 1,876 fell, and 143 unchanged
* On the NSE, 943 stocks rose, 1,308 fell, and 485 unchanged
* Nifty Realty: Up 2.1%; Nifty IT: Down 1.3%; Nifty Auto: Down 0.9%
BSE NSE
Sensex: 58909.35, down 501.73 pts or 0.84% Nifty 50: 17321.90, down 129.00 pts or 0.74%
S&P BSE Sensitive Index Nifty 50
Lifetime High: 63583.07 (Dec 1, 2022) : Lifetime High: 18887.60 (Dec 1, 2022)
Record Close High: 63284.19 (Dec 1, 2022) : Record Close High: 18812.50 (Dec 1, 2022)
2023 1st day close: 61167.79 (Jan 2) : 2023 1st day close: 18197.45 (Jan 2)
2023 Closing High: 61167.79 (Jan 2) : 2023 Closing High: 18197.45 (Jan 2)
2023 Closing Low: 59288.35(Feb 27) : 2023 Closing Low: 17311.80 (Oct 17)
2023 High (intraday): 61222.79 (Jan 2) : 2023 High (intraday): 18215.15 (Jan 2)
2023 Low (intraday): 58699.20 (Jan 30) : 2023 Low (intraday): 17098.55 (Oct 17)
2022 1st day close: 59183.22 (Jan 3) : 2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 63284.19 (Dec 1) : 2022 Closing High: 18812.50 (Dec 1)
2022 Closing Low: 51360.42 (Jun 17) : 2022 Closing Low: 15293.50 (Jun 17)
2022 High (intraday): 63583.07 (Dec 1) : 2022 High (intraday): 18887.60 (Dec 1)
2022 Low (intraday): 50921.22 (Jun 17) : 2022 Low (intraday): 15183.40 (Jun 17)
2021 Closing High: 61305.95 (Oct 14) : 2021 Closing High: 18338.55 (Oct 14)
2021 Closing Low: 46285.77 (Jan 29) : 2021 Closing Low: 13634.60 (Jan 29)
2021 High (intraday): 61353.25 (Oct 14) : 2021 High (intraday): 18350.75 (Oct 14)
2021 Low (intraday): 46160.46 (Jan 29) : 2021 Low (intraday): 13596.75 (Jan 29)-
2020 Closing High: 47751.33 (Dec 31) : 2020 Closing High: 13981.95 (Dec 30)
2020 Closing Low: 25981.24 (Mar 23) : 2020 Closing Low: 7610.25 (Mar 23)
2020 High (intraday): 47896.97 (Dec 31) : 2020 High (intraday): 14024.85 (Dec 31)
2020 Low (intraday): 25638.90 (Mar 24) : 2020 Low (intraday): 7511.10 (Mar 24)
2019 High (intraday): 41809.96 (Dec 20) : 2019 High (intraday): 12293.90 (Dec 20)
2019 Low (intraday): 35287.16 (Feb 19) : 2019 Low (intraday): 10583.65 (Jan 29)
2018 High (intraday): 38938.91(Aug 28)) : 2018 High(intraday): 11760.20 (Aug 28)
2018 Low (intraday): 32483.8 (Mar 23) : 2018 Low (intraday): 9951.9 (Mar 23)
2017 High (intraday): 34005.37 (Dec 26) : 2017 High(intraday): 10515.10 (Dec 26)
End
Edited by Vidhi Verma
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2023. All rights reserved.
