Sensex Today | Share Market Live Updates: Sensex climbs 200pts, Nifty at 22,080; Metal, PSU Bank, O&G up more than 1%

Sensex Today Live : Indian benchmark indices had shed some of their opening blues and were seen climing upwards on Thursday.

At 11 am, Sensex was up 212.03 points, or 0.29%, at 72,973.92, and Nifty was up 92.35 points, or 0.42%, at 22,090.05.

Sensex Today Live : Bajel Projects today informed the exchanges that it has received a contract from Power Grid Corp. of India worth ₹92.18 crores, to work on the transmission system associated with the evacuation of power from solar energy zones in Rajasthan.

In an exchange filing, the company said it has bagged the “Award for Supply of Goods and Services Contract for Transmission Line Package – TL01B for Balance works of removal of LILO of Bawana‐Mandola 400kV D/C line at Maharanibagh S/S and extension of above LILO section from Maharanibagh upto Narela S/S to form 2x400kV D/C Maharanibagh‐Narela Line under “Transmission System associated with Evacuation of Power from Solar Energy Zones in Rajasthan (8.1GW) under Phase‐II Part G1’’vide its letters dated 12th March, 2024, aggregating to Rs. 92.18 crores (excluding taxes).”

Sensex Today Live : Royal Orchid Hotels, informed the exchanges today, that it has signed a management agreement for a new 5-star hotel in Surat, Gujarat.

In an exchange filing, the company said, “The new property will be managed by ROHL in partnership with Hindva Hospitality, LLP. ROHL will oversee this property under a new upscale brand, which will be launched soon.”

Sensex Today Live : Derivatives: Index View Point: BanknNifty 21 Mar weekly cmp 46,981

FII net sell 98 crs.

Total OI addition of 2% noted at 100 bps hints at short build up.

OI PCR 0.86 is call heavy.

Total OI concentration is significant at 47k strike which suggests that a short straddle is set by selling both ce & pe (combo premium approx. 1000 pts) on anticipation of a weekly trading range of 46,000-48,000.

Daily view: 47k is the pivotal level +/-100 pt. Negative if prices sustains below 47k Resistance 47,500 Supports 46,700/46,200.

Sensex Today Live : Nazara Technologies today informed the exchanges that it has acquired a 10.38% stake in Kofluence Tech for a total consideration of ₹31.24 crores.

In an exchange filing, the company said, “…We hereby inform you that the Company, today i.e. March 13, 2024, has acquired 13,374 equity shares of Rs. 10/- each of Kofluence and the consideration of Rs. 31,24,19,828.70 has been discharged by way of issuance and allotment of 3,58,218 equity shares of Rs. 4/- each of the Company at a price of Rs. 872.15 each, to the Sellers.”

Sensex Today Live : Adani Green Energy today informed the exchanges that its whilly-owned subsidiary Adani Renewable Energy Fifty Nine Limited, has entered into power purchase agreements with Solar Energy Corporation of India for supply of 534 MW of solar power projects.

In an exhcnage filing, the company said, “With execution of these PPAs, AGEL now has a total renewable energy project portfolio of 21,778 MWac capacity.”

Sensex Today Live : Larsen & Toubro, today informed the exchanges that it has received a ‘major’ order from a prestigious client in the Middle East.

In an exchange filing, the company said, “The Hydrocarbon vertical (L&T Energy Hydrocarbon – LTEH) of Larsen & Toubro (L&T) has recently secured a major onshore gas pipeline project from a prestigious client in the Middle East.”

It added that the scope of work comprises engineering, procurement, and construction of two new 56″ pipelines, along with associated scraper receivers and launchers and main line isolation valve (MLIV) stations running parallel to the existing pipeline corridor.

Commenting on this order win, Mr Subramanian Sarma, Whole-time Director & Senior Executive Vice President (Energy), L&T, said: “This is the largest cross-country pipeline EPC project awarded to us till date and we are excited to bring our expertise to this strategic project.”

The company classifies orders amoung to ₹5,000 crore to ₹10,crore, as a major order.

Sensex Today Live : Azad Engineering today informed the exchanges today that it has signed a 7 year strategic contract with the Steam Power business of GE Vernova for the supply of high-complex rotating airfoils for Nuclear, Industrial and Thermal power industry.

In an exchange filing, the company said, “This transformative collaboration brings an agreement that is valued around USD 35 million for a period of 7 years on March 13, 2024.”

Sensex Today Live : Valor Estate (formerly D B Realty Limited), informed the exchanges today that its board of directors has approved the issue and allotment of 3,56,66,675 equity shares to qualified institutional buyers at the issue price of ₹258 per equity Share (including a premium of ₹248 per equity share, which is at a discount of ₹12.87 per equity share equivalent to 4.75%, to the floor price of ₹270.87 per equity share.

The company said in an exchange filing, “The cumulative value of the shares issues amounts to ₹920,20,02,150″.

Sensex Today Live : Indian benchmark indices opened lower on Thursday but pared some losses to turn green.

At 10 am, Sensex was up 69.15 points, or 0.10%, at 72,831.04, and Nifty was up 24.70 points, or 0.11%, at 22,022.40.

Sensex Today Live : Ashoka Buildcon today informed the exchanges that it has entered into a share purchase agreement with GVR Infra Projects Ltd., and GVR Ashola Chennai ORR Ltd., to acquire around 9.5 million shares of GVR Ashoka Chennai Ltd., for ₹185 crores.

In an exchange filing, the company said, “This is to inform you that Ashoka Buildcon Limited (“the Company”) has entered into a share purchase agreement (“SPA”) with GVR Infra Projects Limited (“GIPL”) and GVR Ashoka Chennai ORR Limited (“CORR”) for the acquisition of 9,45,00,000 equity shares held by GIPL in CORR, constituting 50% of the share capital of CORR, for a consideration of Rs.185,00,00,000/- (Rupees One Hundred Eighty Five Crore only) subject to terms as agreed under the Share Purchase Agreement (“SPA”) as per the terms of the SPA (Please see Annexure I for further details).”

Sensex Today Live : JSW Energy today informed the exchanges today that its wholly-owned subsidiary JSW Neo Energy has received a letter of award for ISTS connected Solar Capacity of 700 MW from Solar Energy Corporation of India Limited (SECI), against Tariff based Competitive Bid invited by SECI for setting up of 1,500 MW ISTS connected Solar Power Projects.

In an exchange filing, the company, said, “JSW Neo Energy Limited (or “JSW Neo”), a wholly owned subsidiary of JSW Energy Limited (or “The Company”), has received Letter of Award (LoA) for ISTS-connected solar capacity of 700 MW from Solar Energy Corporation of India Limited (SECI), against Tariff based Competitive Bid invited for setting up of 1,500 MW ISTS-connected Solar Power Projects.

The current installed generation capacity is 7.2 GW. The company expects to have 9.8 GW of installed capacity by CY24, with this awarded capacity of 700 MW under SECI Tranche XIII, the company’s total locked-in generation capacity increases to 11.7 GW, of which 2.1 GW will be solar.”

Sensex Today Live : Engineering & Construction firm Kalpataru Projects International today informed the exchanges today that the company, along with its Joint Ventures (JVs) and international subsidiaries, has secured new orders/notification of awards of ₹ 2,445 crores.

The company shared the details of the orders in an exchange filing. It said, “The details of the aforesaid new orders are as follows:

Orders in the Transmission & Distribution (T&D) business of ₹ 2,366 Crores in India and overseas markets.

Orders in the Buildings & Factories (B&F) business of ₹ 79 Crores”.

Sensex Today Live : Among the heavyweight sectoral indices, Nifty Bank was under pressure, down 0.45%, while on the positive side, the Oil & Gas index was up 1.69%, and the Metal index was up 1.03%.

Sensex Today Live : The broader market opened stronger, with the BSE MidCap index up 0.91%, and the BSE SmallCap index up 0.69%.

Sensex Today Live : Coal India, BPCL, Adani Ports & SEZ, Hindalco, and Power Grid Corp., were the top gainers on the Nifty 50, while Bajaj Finance, LTI Mindtree, TCS, Tata Steel, and Bajaj Finserv, were the top losers. 

Sensex Today Live : Power Grid Corp., Nestle India, NTPC, Kotak Mahindra Bank, and Reliance Industries, were the top gainers on the Sensex, while Tata Steel, TCS, Tech Mahindra, Bajaj Finance, and Wipro, were the top losers. 

Sensex Today Live : The defence sector manufacturer informed the exchanges today that the country’s Ministry of Defence has signed two contracts with it to acquire 34 Advanced Light Helicopters (ALH) Dhruv Mk III for the Indian Army & Indian Coast Guard.

In an exchange filing, it said, “We wish to inform that, consequent upon approval of the Cabinet Committee on Security (CCS), the Ministry of Defence signed two contracts for a combined value of ₹8073.17 crore with the Company on 13 March 2024 for acquisition of 34 Advanced Light Helicopters (ALH) Dhruv Mk lllalong with Operational Role Equipment for Indian Army (25 ALHs) and Indian Coast Guard (09 ALHs).”

Sensex Today Live : Indian benchmark indices opened lower on Thursday, led by mixed cues from global peers.

At opening bell, Sensex was down 141.80 points, or 0.19%, at 72,620.09, and Nifty was down 72.70 points, or 0.33%, at 21,925.

Sensex Today Live : ViewPoint: Nifty Outlook for 14th Mar’24:

Long : Short Ratio is at 40% : 60%

VIX at 14.43

FIIs outlook is sideways for indices & positive for FnO stocks

NF witnessed long unwinding only to the tune of 2.6% + its PCR_OI dropped to 0.65 indicating an indecisive trend

Expected expiry range today 21,800 to 22,000/22,050

View: There can be a trend reversal below 22,200. Going forward, if 21,800 breaks, Nifty can head towards 21,500/400. However, if today & tomorrow Nifty defends 21,800 & survives back above 22,050 (weekly closing) then it may resume a consolidation trading range between 21,800 to 22,200 for a few days.

Also monthly options chain was showing 21,000 to 23,000 for the March series and even now, highest OI for monthly expiry is at 21,000 PE (0.86 L contracts) & 23,000 CE (0.64 L contracts).

Sensex Today Live : Indian benchmark indices were muted during pre-open on Thursday, led by mixed signals from global markets.

Sensex was down 194.40 points, or 0.27%, at 72,567.49, and Nifty was down 15.15 points, or 0.07%, at 21,982.55 during pre-open.

Sensex Today Live : Senior government officials, cited by PTI, have said that the government does not plan to divest its stake in ITC, which is held through SUUTI, even though British American Tobacco (BAT) has reduced its stake in the Kolkata-based FMCG company through a block deal.

As of December 31, 2023, the Specified Undertaking of the Unit Trust of India (SUUTI) held an approximate stake of 7.82% in the diversified conglomerate ITC.

Tuhin Kanta Pandey, Secretary of the Department of Investment and Public Asset Management (DIPAM), confirmed to PTI, “At present, there are no such plans.” (Read the full story here.)

Sensex Today Live : In a speech in Mumbai, Gautam Adani, Chairman of the Adani Group, stated that the conglomerate remained unshaken despite attempts by US-based short seller Hindenburg Research to destabilize it. He emphasized that the report was not only an attack on the Adani Group but also an attempt to politically tarnish India’s governance practices.

“On January 24 last year, we faced a significant assault from a US short seller. The aim was not merely to unsettle us, but also to politically discredit India’s governance practices. Despite attempts to undermine our foundation, we held our ground, not only preserving our reputation but also ensuring that we stayed concentrated on our operations,” he articulated. (Read the full story here.)

Sensex Today Live : The Indian stock market indices, Sensex and Nifty 50, are projected to continue their downward trend on Thursday, following a significant decline in the previous session and influenced by mixed signals from international markets.

The Gift Nifty trends also suggest a pessimistic opening for the Indian benchmark index. The Gift Nifty was observed trading around the 22,048 mark, nearly 60 points lower than the previous close of Nifty futures.

On Wednesday, the domestic equity indices experienced a steep decline of more than a percent due to widespread selling across sectors, resulting in the benchmark Nifty 50 closing below the 22,000 mark.

The Nifty 50 formed a long bearish candle on the daily chart, moving below the immediate support of the 10/20 day Exponential Moving Average (EMA) and also the uptrend line as per the daily chart. (Read the full story here.)

Sensex Today Live : The local stock market is predicted to start cautiously on Thursday, following a significant sell-off in the previous session and mixed signals from global markets.

While Asian markets remained subdued, US stock indices showed mixed results overnight as investors awaited further data on inflation and consumer health to gauge the future course of the US Federal Reserve’s policy.

Investors are keenly awaiting the release of data on India’s wholesale inflation and US producer prices today. On Wednesday, Indian stock market indices fell by over a percent due to widespread selling across sectors, with mid and small caps suffering the most.

“Markets couldn’t sustain their momentum due to heavy selling in mid and small-cap stocks. The ongoing scrutiny from SEBI, the pending outcome of the MF stress test, and high valuations after the recent rally led to profit booking. We anticipate the market’s sluggishness to persist in the near term, with Nifty’s major support around the 21,500 zone. A key event to monitor is the release of India’s WPI inflation data today,” stated Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd. (Read the full story here.)

Sensex Today Live : With global markets trading in muted tones and following Wednesday’s lower close, the Indian markets too looked poised to start on a cautious note on Thursday.

In terms of numbers, Gift Nifty futures at 7:43 am, was trading marginally ahead of Wednesday’s Nifty 50 close of 21,997.70. But this is hardly any consolation, as markets globally look to find firm footing ahead of a barrage of data scheduled for release next week. Gift Nifty was at 22,055.50, down 2 points, or 0.01%, from its yesterday’s close.

South Korean shares rose on Thursday, with automakers and financial stocks leading the gains, as the government vowed to speed up its corporate reform push.

The benchmark KOSPI rose 13.06 points, or 0.48%, to 2,706.63 by 0147 GMT.

Australian shares ticked lower on Thursday as financials dragged, offseting the gains in commodity stocks following a rebound in most underlying prices, while investors exercised caution ahead of key central banks’ interest rate decisions.

The S&P/ASX 200 index inched down 0.1% at 7,721.3 by 0024 GMT. The benchmark rose 0.2% on Wednesday.

The Reserve Bank of Australia and the U.S. Federal Reserve are both scheduled to hold their respective monetary policy meetings next week, with markets expecting each central bank to hold its cash rate at its current level.

A gauge of global stock markets edged lower and U.S. Treasury yields rose modestly on Wednesday, as investors looked to the next round of data on inflation and consumer health for clues on the direction of Federal Reserve policy.

The S&P 500 fell slightly from its record close, weighed down by weakness in the tech sector.

The inflation data did little to alter expectations that the Federal Reserve will cut interest rates by at least 25 basis points (bps) at its June meeting, but gave a boost to U.S. Treasury yields, a trend which continued on Wednesday.

Investors will get another round of inflation data in the form of the U.S. producer price index (PPI) on Thursday, along with data on consumer spending and the labor market, before next week’s Fed policy meeting.

On Wall Street, the rise in yields weighed on tech stocks and pulled the Nasdaq lower. The Dow Jones Industrial Average rose 37.83 points, or 0.10%, to 39,043.32, the S&P 500 lost 9.96 points, or 0.19%, to 5,165.31 and the Nasdaq Composite lost 87.87 points, or 0.54%, to 16,177.77.

MSCI’s gauge of stocks across the globe fell 0.39 points, or 0.05%, to 775.32, after climbing within 0.15% of an intraday record.

The STOXX 600 index closed up 0.16%, adding to its record level, aided by retail stocks, while Europe’s broad FTSEurofirst 300 index rose 3.83 points, or 0.19%.