Sensex Today Live : Indian benchmark indices had erased some of their gains but still closed near their all time highs in the special live trading session conducted by the bourses on Saturday, March 2.

Sensex, which had opened higher at 73,848.19, climbed to an all-time high of 73,994.70 in the special trading session, but pared some of the gains to close up 60.80 points, or 0.08%, at 73,806.15.

Nifty, which had also opened higher at 22,406.95, climbed to a fresh all-time high of 22,419.55, pared some of the gains to close up 39.65 points, or 0.18%, at 22,378.40.

Tata Steel, Tata Motors, JSW Steel, Wipro, and ITC, were the top gainers on the Sensex, while Mahindra & Mahindra, NTPC, Maruti Suzuki India, Axis bank, and Sun Pharma, were the top losers.

On the Nifty 50, Tata Steel, Hero MotoCorp, Tata Motors, Adani Ports & SEZ, and JSW Steel, were the top gainers, while Mahindra & Mahindra, Maruti Suzuki India, NTPC, Sun Pharma, and Nestle India, were the top losers.

The Nifty Bank closed marginally up by 0.02%, while the Media and Metal indices closed up more than 1.5% each, followed by Consumer Durables, which closed up 1.16%. Other indices were also in the green, barring Private Bank, which closed marginally down, by 0.01% .

The broader market also ended the special trading session in the green, with the MidCap index up 0.67%, and the SmallCap index closed up 0.70%.

Sensex Today Live : The 13th Ministerial Conference of the World Trade Organization (WTO), which took place in Abu Dhabi, ended late on Friday without a consensus on pivotal issues such as agriculture and fisheries. This was the case despite an extra day of negotiations and concerted efforts.

Key members, including India, the US, and the European Union, failed to reach a mutual understanding on these crucial topics, resulting in the conference concluding without a concrete agreement on these matters.

However, a notable development from the conference was the decision to prolong the moratorium on customs duties for e-commerce by another two years, until the next ministerial conference (MC14). (Read the full story here.)

Sensex Today Live : The Nifty Bank was marginally up by 0.02%, while the Media and Metal indices were up more than 1.5% each. Other indices were also in the green, barring Private Bank, which was flat.

Sensex Today Live : The broader market was in the green with MidCap index up 0.72%, and the SmallCap index was up 0.74%.

Sensex Today Live : Tata Steel, Hero MotoCorp, Adani Ports & SEZ, Tata Motors, and JSW Steel were the top gainers on the Nifty 50, while Mahindra & Mahindra, NTPC, Sun Pharma, Grasim Industries and Maruti Suzuki India, were the top losers. 

Sensex Today Live : Tata Steel, JSW Steel, Tata Motors, Asian Paints, and Larsen & Toubro, were the top gainers on the Sensex, while Mahindra & Mahindra, Sun Pharma, NTPC, Maruti Suzuki India, and Nestle India were the top losers. 

Indian benchmark indices had erased some of their gains but were still near their all time highs in the second phase of trading on the special live trading session being conducted by the bourses.

At 12 pm, Sensex was up 69.70 points, or 0.09%, at 73,815.05, while Nifty was up 39 points, or 0.17%, at 22,377.75.

The Sajjan Jindal-led steelmaker announced on Friday that it intends to invest €143 million (approximately ₹1,282 crore) to aid the revival of its steel mill in Piombino, Italy. The company announced in a press release that its subsidiary, JSW Steel Italy SRL, has signed a Memorandum of Understanding (MoU) with Italian authorities for the site’s relaunch, adding that the investment will be utilized to double its current rail production capacity from 300,000 tonnes to 600,000 tonnes per annum. Sajjan Jindal, chairman of JSW Group, said, “The €143 million investment will modernize the rail mill at Piombino.” (Read full story here.)

Sensex Today Live : H.G. Infra Engineering Limited informed the exchanges that it has received a letter of acceptance from South Central Railway to double the tracks between Karanjgaon station and Aurangabad station, including electrification and signaling works in connection with Aurangabad-Ankai Doubling Project in Nanded Division of South-Central Railway.

Sensex Today Live : Metal, Media and Consumer Durable stocks were leading gains across sectors in the 2nd phase of trading in Saturday’s special live trading session.

Sensex Today Live : Indian benchmark indices were holding onto their gains, as markets resumed trading for the second phase of trading on the special live trading session being conducted by the bourses.

At 11:35 am, Sensex was up 126.36 points, or 0.17%, at 73,871.71, while Nifty, was up 58.70 points, or 0.26%, at 22,397.45.

Sensex Today Live : The Indian economy experienced a significant upturn in the December quarter, a trend that was supported by remarkable tax revenues and a thriving manufacturing sector. In February, the central and state governments amassed ₹1.68 trillion in Goods and Services Tax (GST) revenue, marking a 12.5% increase compared to the revenue collected in February 2023. This surge can be attributed to robust manufacturing activity and a strong economic growth trajectory. However, this figure was slightly less than the ₹1.72 trillion collected in January. (Read the full story here.)

Sensex Today Live : Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, shared her insights on the Nifty 50 index’s performance during the NSE’s special trading session on 2 March 2024. She observed that the index started the day strong and continued to gain momentum. It broke past the 22,200 mark, reaching a new all-time high of 22,353 by the end of the session. Parekh also noted that the index is back on a robust upward trend, with anticipated targets of 22,500 and 22,800 in the near future. (Read the full story here.)

Sensex Today Live : SRF technical recommendation

Reco.: BUY

Reco. Range: ₹2360-2397

Target: ₹2650

Stop Loss: ₹2200

The stock is trending in a range making higher bottoms on long term charts with strong upward momentum expected.

The long term averages are moving upwards, moving its risk reward higher and in favor of strong up move from current levels.

RSI is trending above the average lines and other key technical indicators are showing a positive trend.

Sensex Today Live : City Union Bank technical recommendation

Reco. : BUY

Reco. Range: ₹133-138

Target: ₹165

Stop Loss: ₹123

The stock has made higher bottoms on its monthly charts at 130-135 levels holding its long term band of averages.

The higher bottoms structures indicate a strong upward breakout as shorter time frames are indicating a strong reversal.

Stochastic & RSI are inching upwards from their averages on multiple time frames and both the indicators are in bullish mode

Sensex Today Live : According to the information put out by the bourses earlier, the 45-minute session during the first phase, scheduled to take place between 9.15 IST and 10:00 IST, concluded.

Now, the next trading session, scheduled to start from 11:30 IST, and end at 12:30 IST, will happen from the Disaster Recovery site.

Sensex Today Live : Indian benchmark indices continued their bull run from Friday’s close to scale fresh highs in Saturday’s special live trading session.

At 10 am, Sensex was up 114.91 points, or 0.16%, at 73,860.26, while Nifty, was up 56.25 points, or 0.25%, at 22,395.

Sensex Today Live : Passenger vehicles and two-wheelers were shining the brightest as Indian auto OEMs released their wholesales data for February 2024.

Growth in PVs was led by SUVs owing to strong demand which is evident from their robust order backlogs, attractive new launches and a rise in discounts.

PV EVs also marked healthy growth compared to last year albeit on a lower base.

Maruti witnessed its exports expanding as inflation eased in key markets.

Within 2Ws space, price cuts in EV 2Ws, strong wedding season demand and consistently recovering semi-urban/rural growth were factors that led to double-digit growth across OEMs.

2W exports were also seen recovering albeit on a lower base.

Commercial vehicle sales were mixed across OEMs and segments, indicating pockets of recovery in dealer stock and a much-anticipated liquidation of 2023-manufactured models.

Sensex Today Live : The company posted an 8.4% increase in its total wholesales, with 86,406 units in February, compared to 79,705 units in the same month the previous year. The company’s total domestic sales rose by 9%, with 84,834 units sold last month compared to 78,006 units in the previous month. In a regulatory filing, the company reported a 19% increase in domestic sales of passenger vehicles (PV), including electric vehicles, with 51,321 units sold compared to 43,140 units in the same month last year. However, total commercial vehicle sales saw a 4% decrease, with 35,085 units sold last month compared to 36,565 units year-on-year.

Sensex Today Live : The share price of Info Edge (India) experienced a nearly 3% drop in Saturday’s trading session. This was in response to the company’s announcement to the stock exchanges that Google had delisted several mobile applications from the Google Play Store, including apps from various other firms/entities. The apps from Info Edge (India) that were affected include Naukri.com Job Search App, Naukri Recruiter, Naukrigulf Job Search App, 99acres Buy/Sell/Rent Property, and Shiksha.

Sensex Today Live : Consumer Durables and Media stocks were the biggest rallying points in the special live trading session on Saturday, while the rest of the sectoral indices were also in the green. 

Sensex Today Live : The broader market indices were in the green, with the SmallCap index up 0.53%, while the MidCap index was up 0.47%.

Sensex Today Live : Hero MotoCorp, Cipla, Tata Steel, Apollo Hospitals, and L&T, were the top gainers on Nifty, while BPCL, Maruti Suzuki India, Mahindra & Mahindra, ICICI Bank, and Sun Pharma, were the top losers. 

Sensex Today Live : Tata Steel, Wipro, L&T, Tata Motors, and IndusInd Bank, were the top gainers on Sensex, while ICICI Bank, Power Grid Corp., Bajaj Finserv, NTPC, and Mahindra and Mahindra, were the top losers. 

Sensex Today Live : Indian benchmark indices continued their bull run to scale fresh highs at opening bell in Saturday’s special live trading session.

At open, Sensex was up 157.91 points, or 0.21%, at 73,903.26, to scale Friday’s all-time high of 73,819.21, while Nifty, was up 54.80 points, or 0.25%, at 22,393.55.

Sensex Today Live: Indian benchmark indices scaled fresh highs in the pre-open session in Saturday’s special live trading session.

Sensex climbed 102.84 points, or 0.14%, at 73,848.19, to scale Friday’s all-time high of 73,819.21 in the pre-open session. Nifty, too, climbed 68.20 points, or 0.31%, to reach 22,406.95, its fresh all-time high.

Sensex Today Live : The special trading session would be divided into two sections, as per an NSE circular. A 45-minute session during the first phase will take place from 9.15 IST to 10:00 IST. There will be another live trading session from 11.30 IST to 12.30 IST.

Sensex Today Live : India’s economy exceeded market expectations with a rapid growth rate in the December quarter, propelling benchmark indices to unprecedented levels on Friday. This trend, led by large-cap stocks, is likely to persist.

The Nifty index soared to an all-time high of 22,353.30 points, and the Sensex reached 73,819.21, primarily driven by banks, capital goods, and oil and gas stocks. According to BSE data, this surge was fueled by domestic institutional investors’ provisional purchases worth ₹3,814.53 crore and proprietary traders’ acquisitions amounting to ₹618.58 crore. (Read the full story here.)

Sensex Today Live : Indian stock market indices Sensex and Nifty 50 are expected to open on a positive note on Saturday, tracking positive global market cues from Wall Street.

The Indian equity market will remain open on Saturday, March 2, as the stock exchanges will conduct a special live trading session in the equity and derivatives segments through their disaster recovery site.

Trends on Gift Nifty also indicate a higher start for the Indian benchmark indices, with the Gift Nifty trading around 22,511 level. (Read the full story here.)

Sensex Today Live : The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have scheduled a unique live trading session for today, Saturday, March 2. This session is designed to evaluate the robustness of their disaster recovery mechanisms. This special trading session is a component of the Business Continuity Plan (BCP) and Disaster Recovery Site (DRS) management framework.

During this special live trading session, there will be a switch from the Primary Site (PR) to the Disaster Recovery (DR) site.

The NSE has issued a circular stating, “We request members to note that the exchange will conduct a special live trading session, which includes an intra-day switch from the primary site to the Disaster Recovery site on Saturday, March 02, 2024, in the equity and equity derivatives segments.” (Read the full details here.)

Sensex Today Live : Gift Nifty futures had extended the gains on the record-high close of Indian benchmark indices on Friday. Trading at 22,511 at 2:47 am on Saturday, Gift Nifty futures was more than 170 points ahead of the Nifty 50’s record high close of 22,338.75 on Friday.

This indicated a strong start for Indian benchmarks in Saturday’s special trading session being organised by the bourses NSE and BSE in consultation with the markets regulator Sebi, to test measures being taken to avoid market disruption.

U.S. stocks rose on Friday, with the S&P 500 and Nasdaq closing at record highs, as technology stocks rallied on continued enthusiasm for artificial intelligence, with further support from declining Treasury yields.

The gains marked the second straight closing record for the Nasdaq, which also set an intraday record.

The Dow Jones Industrial Average rose 90.99 points, or 0.23% , to 39,087.38, the S&P 500 gained 40.81 points, or 0.80%, to 5,137.08 and the Nasdaq Composite gained 183.02 points, or 1.14%, to 16,274.94.

For the week, the S&P 500 gained 0.95%, the Nasdaq rose 1.74%, and the Dow fell 0.11%.

A global equity index scaled a record high while Treasury yields fell sharply on Friday after weak U.S. economic data and comments from Federal Reserve officials bolstered expectations for interest rate cuts later this year.

MSCI’s gauge of stocks across the globe rose 5.81 points, or 0.76%, to 767.09 and hit a record high.

The STOXX 600 index closed up 0.6% after Eurostat figures published showed inflation across the 20-nation euro zone eased to 2.6% in February from 2.8% a month earlier.

In Asia, Japan’s Nikkei index jumped 1.9% to hit a fresh all-time high, extending a surge of 7.9% the previous month when it breached levels last seen in 1989.