Indices at previous closing
Nifty50: 15,098 ▲ 142 (+0.9%)
Sensex: 51,025 ▲ 584 (+1.1%)
Nifty Bank: 35,865 ▲ 589 (+1.6%)
In the news
Auto registrations plunge in February
- According to the Federation of Automotive Dealers Associations of India (FADA), total vehicle registrations in February fell 13.4% YoY.
- Passenger vehicles (PV) grew by 10.6% YoY, mainly due to the low base of last year FADA mentioned that PV had a waiting period of about 8 months due to scarcity of semiconductors. Meanwhile, two-wheeler and commercial-vehicle registrations plunged by 16.1% and 29.5%, respectively. The Nifty Auto index fell 0.4% yesterday.
Godrej Properties raises funds through QIP
- The real estate developer has placed a qualified institutional placement (QIP) at a floor price of ₹1,513.39, a 3.4% premium over Tuesday’s closing price.
- Up to 2.61 crore shares will be reportedly sold during the QIP. The fundraise is part of the company’s plan to raise ₹3,750 crore in tranches. Its shares closed flat on Tuesday.
US tech stocks surge with falling bond yields
- After falling for three consecutive weeks, the Nasdaq gained 3.6%, its largest single-day gain since November, on account of retreating treasury yields.
- Investors flocked to beaten-up tech stocks such as Tesla (+19.6%), Apple (+4.0%), Amazon (+3.7%) and Microsoft (+2.8%), all of which posted their largest single-day gains in recent weeks.
Gold prices bounce back
- After weeks of decline, MCX gold futures prices found some support around ₹44,000 (per 10 grams) due to a retreat in the dollar index and US Treasury yields.
- The $1.9 trillion US Covid relief bill is expected to pass today, putting pressure on the dollar. Further, after the recent sell-off, fresh buying in bonds resulted in a reduction in their yields. MCX gold futures prices closed with gains of 1.4%, yesterday. Meanwhile, silver futures prices rose at a faster clip at 2.4%.
Events of the week
- Wednesday: CPI and Crude oil inventories (US)
- Thursday: Initial jobless claims (US), Holiday (India)
- Friday: Consumer Inflation and IIP (India)
Sectoral indices (9 March)
| Top gainers | Top losers |
| Nifty Fin Serv ▲ 2.2% | Nifty Metal ▼ 2.5% |
| Nifty Bank ▲ 1.6% | Nifty Media ▼ 1.4% |
Global markets (at 8:30 am today)
| Indices | Today's movement |
| Nikkei 225 (Japan) | ▲ 0.0% |
| Hang Seng (Hong Kong) | ▲ 0.7% |
| SSE Composite (China) | ▲ 0.7% |
| Dow Jones (US) (9 March) | ▲ 0.1% |
Fact of the day
The time on every official photo of the iPhone is 9:41. This is the time Steve Jobs unveiled the first iPhone.
Source: Inc.com
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