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Live: Energy, metal stocks help Nifty trim over 150 pts from day's lows | Closing Bell

Sensex and Nifty recovered after steep early losses on Thursday., Value buying and stable IT stocks helped limit market losses.

* Sensex and Nifty recovered after steep early losses on Thursday.
* Value buying and stable IT stocks helped limit market losses.

Sensex and Nifty rebounded from steep early losses, aided by reports of safe Indian oil shipments through the Strait of Hormuz, value buying in select shares, technical recovery, and limited fall in IT stocks despite rupee depreciation and global tensions.

shorts/business/sensex-rebounds-500-pts-from-day-s-low-nifty-above-23-650-3-key-reasons-behind-market-paring-losses

The equity benchmark indices Sensex and Nifty recovered partially from steep early losses on Thursday, amid value buying in blue chip Reliance Industries.

The Sensex had dropped 992.53 points or 1.29 percent to hit an intraday low of 75,871.18 in early trade. The broader Nifty slipped 310.55 points or 1.3 percent to 23,556.30.

However, the indices pared some of the losses as the session progressed. By 1:45 pm, the Sensex was trading at 76,561.74, down 301.97 points or 0.39 percent. The Nifty was at 23,825.35, down 41.50 points or 0.17 percent.
Key reasons behind market rebound
1) Crude oil relief: In a significant relief for New Delhi amid a worsening global energy crunch, Iran has allowed tankers flying the Indian flag to pass through the Strait of Hormuz, according to a report by CNN-News18 citing sources.

However, an Iranian source denied allowing the Indian tankers to pass through, reported Reuters.

2) Value buying: Value buying also supported the recovery after the sharp fall in the previous session. The buying was also seen in index heavyweight Reliance Industries, which was up more than 1 percent. On Wednesday, the Sensex had tumbled 1,342.27 points or 1.72 percent to settle at 76,863.71. The Nifty had declined 394.75 points or 1.63 percent to close at 23,866.85.
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3) Technical factor: According to Anand James, Chief Market Strategist at Geojit Investments Limited, the steep fall in the previous session left room for recovery attempts. However, he said the Nifty needs to move above 23,990 to sustain the rebound. A fall below Monday’s reaction low of 23,697 could expose the index to the 23,550–23,370 zone.

4) Limited fall in IT stocks: Losses were also capped by relatively stable IT shares, which tend to benefit from a weaker rupee as a large share of their revenue comes from overseas markets in dollars. The Indian rupee depreciated 31 paise to 92.32 against the US dollar in early trade, pressured by foreign fund outflows, higher crude oil prices and a stronger dollar amid continuing tensions in West Asia.

5) Buying in electricity shares: Amid a gas shortage fears, electricity shares are gaining traction. Coal India and Power Grid were among the top gainers in the Nifty50 pack, rising up to 4 percent.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Sensex rebounds 750 pts from day's low, Nifty reclaims 23,800: 5 key reasons behind market paring losses

Sensex and Nifty fell over 1 percent amid rising crude prices., Mahindra & Mahindra, Tata Motors among top losers., Rupee weakened to 92.32 against the US dollar.

* Sensex and Nifty fell over 1 percent amid rising crude prices.
* Mahindra & Mahindra, Tata Motors among top losers.
* Rupee weakened to 92.32 against the US dollar.

Sensex and Nifty fell over 1% amid surging crude prices, West Asia tensions, and global trade worries. Most sectoral indices declined, with only Reliance and Coal India gaining. The rupee weakened, India VIX rose, and FIIs continued heavy selling.

shorts/business/sensex-falls-900-pts-nifty-below-23-600-surging-crude-prices-among-key-factors-behind-market-decline

The benchmark equity indices Sensex and Nifty extended losses on Thursday, tracking a sharp rise in crude oil prices amid escalating tensions in West Asia and renewed global trade concerns.

At around 3 pm, the Sensex declined 867.77 points or 1.13 percent to 75,995.94, while the broader Nifty slipped to 23,628.10, down 238.75 points or 1 percent.

Among the major laggards in the Nifty pack were Mahindra &amp;amp; Mahindra, Tata Motors Passenger Vehicles and Eternal, which declined up to 4.5 percent. Meanwhile, Reliance Industries and Coal India were the only gainers, rising up to 0.2 percent. Market breadth remained negative with about 843 shares advancing, 2,388 declining and 179 remaining unchanged.

Shares of online food delivery companies were under pressure. Swiggy fell 2.2 percent, while Eternal dropped 3 percent. According to brokerage Motilal Oswal Financial Services, a continued shortage of commercial LPG due to the West Asia conflict through the remainder of March could lead to a temporary decline in order volumes for the companies.

Fourteen of the 16 major sectoral indices were trading in the red. The broader Nifty Smallcap 100 and Nifty Midcap 100 also declined up to 1.5 percent.
Key factors behind the decline
1) Rising crude prices: Global benchmark Brent crude surged 8.98 percent to USD 100.24 per barrel. Oil prices rose above the USD 100 mark after Iraqi security officials said Iranian explosive-laden boats had struck two fuel-oil tankers, amid wider supply disruptions linked to the U.S.-Israeli war on Iran. Officials also said oil ports had completely stopped operations. Higher oil prices are seen as negative for oil-importing countries like India as they increase inflationary pressures and widen the import bill.

2) Trade worries: The administration of US President Donald Trump has initiated a fresh trade investigation targeting excess industrial capacity in 16 major trading partners, including India, China and the European Union. The move is aimed at rebuilding tariff pressure after a ruling by the Supreme Court of the United States struck down a key element of Trump’s tariff programme.
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3) India VIX rises: The market’s fear gauge, India VIX, jumped about 6 percent to 22.32.

4) Rupee weakens: The Indian Rupee depreciated 31 paise to 92.32 against the U.S. dollar in early trade, pressured by foreign fund outflows, rising crude oil prices and a stronger greenback as tensions in West Asia persisted. At the interbank foreign exchange market, the rupee opened at 92.25 against the U.S. dollar and slipped further to 92.32, down 31 paise from its previous close.

5) Weak global cues: In Asian markets, Japan’s Nikkei 225, South Korea’s Kospi, China’s Shanghai Composite and Hong Kong’s Hang Seng Index were trading lower. U.S. markets ended mostly lower on Wednesday.

6) FII selling: Foreign institutional investors (FIIs) sold equities worth Rs 6,267.31 crore on Wednesday. FIIs have remained net sellers so far in March and have offloaded more than Rs 39,000 crore in the past seven sessions.
Technical outlook
Anand James, Chief Market Strategist at Geojit Investments, said the sharp fall in the previous session could allow recovery attempts early in the day. However, he added that failure to move above 23,990 or a direct fall below Monday’s reaction low of 23,697 may open the door for further downside towards the 23,550–23,370 zone.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Sensex falls 900 pts, Nifty below 23,650: Surging crude prices among key factors behind market decline

Sensex and Nifty fell over 1 percent amid broad-based selling, Crude prices rise, geopolitical tensions impact market sentiment, FIIs continue selling; India VIX up 5% amid rising volatility

* Sensex and Nifty fell over 1 percent amid broad-based selling
* Crude prices rise, geopolitical tensions impact market sentiment
* FIIs continue selling; India VIX up 5% amid rising volatility

Indian markets fell sharply, with Sensex and Nifty down over 1% amid rising oil prices, persistent foreign selling, and weak global cues. Banking, auto, and steel stocks led declines. Volatility rose as geopolitical tensions and crude price surge fueled investor concerns.

shorts/business/sensex-plunges-950-points-nifty-below-23-600-as-crude-oil-soars-past-100-again-fii-selling-rattle-markets

Indian equity markets opened sharply lower by more than 1 percent each on Thursday, extending the previous session’s losses amid rising crude oil prices, persistent foreign institutional selling, and weak global cues.

At 09:17 am, the Sensex was down 946 points or 1.2 percent at 75,918, while the Nifty slipped 296 points or 1.2 percent to 23,571, falling further below the 24,000 mark amid broad-based selling. Market breadth remained weak with 1,707 shares declining against 633 advances on the NSE.

The sharp fall followed a weak close in the previous session, when the Sensex had dropped 1,342 points and the Nifty lost nearly 395 points, dragged by heavy selling across sectors.

Global cues also remained negative. Asian equities declined on Thursday as oil prices jumped after reports that additional ships were struck in the Strait of Hormuz and Iraqi waters, raising fears of supply disruptions and fuelling inflation concerns worldwide.

Oil prices surged again, with Brent crude rising about 9 percent to around $100 per barrel, while West Texas Intermediate crude climbed nearly 9 percent to around $95, despite the International Energy Agency announcing the largest coordinated release of emergency oil reserves in history.

US markets had also closed lower overnight. The Dow Jones Industrial Average fell 0.61 percent, while the S&amp;amp;P 500 declined slightly and the Nasdaq Composite edged marginally higher, as investors focused on the escalating conflict linked to the US-Israeli war on Iran.

	Also read | Groww leads active client additions; Zerodha, Angel One see modest growth in February

Gainers and losers on NSE, BSE in opening trade
Back home, banking and financial stocks were among the major drags. The Nifty Bank index fell around 1.7 percent to 54,786, while the Nifty Private Bank index dropped a similar 1.7 percent.

Among Nifty constituents, ICICI Bank stock declined about 2.6 percent, while Kotak Mahindra Bank slipped around 1.7 percent. Other losers included InterGlobe Aviation, Larsen &amp;amp; Toubro, Tata Steel, Shriram Finance, and JSW Steel, which fell between 1.5 percent and 3 percent.

Sectorally, losses were widespread. The Nifty Auto index dropped over 2 percent, while the Nifty PSU Bank index declined about 2 percent. The Nifty Midcap 100 index fell around 1.7 percent, and the Nifty Smallcap 100 index slipped nearly 1.8 percent, reflecting weakness across broader markets.

Volatility also increased, with the India VIX rising nearly 5 percent to 22.07, indicating heightened nervousness among investors.
Crude oil prices, geopolitical uncertainty drag Indian markets
Analysts said the resurgence in crude prices and geopolitical uncertainty has pushed the market into a weaker zone. “External headwinds have pushed the market into a weak zone. With the war continuing and Brent crude again bouncing back to $100 levels, the weakness is likely to persist,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.

Institutional flows also remain a key concern. Foreign institutional investors (FIIs) extended their selling streak to nine consecutive sessions, offloading equities worth Rs 6,267 crore, while domestic institutional investors (DIIs) continued to provide support, purchasing shares worth Rs 4,965 crore in the previous session.

Technical analysts said the Nifty is now approaching a crucial support zone. According to Shrikant Chouhan, Head of Equity Research at Kotak Securities, as long as the index trades below 24,000, market sentiment is likely to remain weak. On the downside, the 23,700 level could be retested, with a further fall potentially dragging the index toward the 23,600-23,550 zone.

Despite the near-term volatility, analysts note that geopolitical shocks historically tend to have only temporary impacts on markets, and investors may look for opportunities to accumulate high-quality stocks during periods of correction.



Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Sensex plunges 950 points, Nifty below 23,600 as crude oil soars past $100 again, FII selling rattle markets

LIVE: Global Markets Sell off Again | Weak start expected for Nifty | Gas supplies in focus

11 out of 18 years BSE Metal has given positive returns in March.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	39,626.37	40,270.64	40,630.04	39,266.97	38,622.70	38,263.30	37,619.03
Fibonacci	39,650.37	39,887.24	40,270.64	39,266.97	38,883.57	38,646.70	38,263.30
Camarilla	39,074.10	39,166.11	39,258.11	39,266.97	38,890.10	38,798.09	38,706.09

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