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Sensex Opens 450 Points Higher; BPCL Jumps 4%
Tue, 2 Mar 09:30 am | Yash Vora, TM Team

Asian share markets are trading on a mixed note today as stocks extended the global rally as a halt in a recent bond markets sell-off eased investor nerves and lifted riskier assets.

The Nikkei is trading down by 0.6% while the Hang Seng is down 1.1%.

In US stock markets, Wall Street indices rallied overnight with the S&P 500 posting its best day in nearly nine months, as bond markets calmed after a month-long selloff.

All eyes will be on Australia's central bank, which holds its monthly policy meeting today. Analysts expect the Reserve Bank of Australia to hold key rates at a historic low but focus will shift to commentary about its quantitative easing programme.

The Dow Jones Industrial Average rose over 600 points to close with gains of 2%, while the tech-heavy Nasdaq Composite jumped 3%.

Back home, Indian share markets have opened on a positive note, following the trend on SGX Nifty.

The BSE Sensex is trading up by 481 points. Meanwhile, the NSE Nifty is trading higher by 137 points.

NTPC is among the top gainers today. ONGC, on the other hand, is among the top losers today.

The BSE Mid Cap index has opened up by 1%. The BSE Small Cap index is trading higher by 1.2%.

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All sectoral indices are trading in green with stocks in the IT sector and finance sector witnessing most of the buying interest.

Shares of Linde India and Just Dial hit their 52-week highs today.

The rupee is trading at 73.43 against the US$.

Gold prices are trading down by 0.5% at Rs 45,080 per 10 grams.

Speaking of stock markets, in the latest episode of Investor Hour, India's #1 trader Vijay Bhambwani discusses stock markets, the best sectors, ETFs, gold, silver, inflation, cryptos, oil and gas prices, the best investment for the long term, and a lot more.

In the video, Vijay also talks about his new targets for gold and silver and the best long-term investment opportunity.

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In news from the shipping sector, the government has received multiple bids for privatisation of Shipping Corporation of India, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on Monday.

In December, DIPAM had invited expressions of interest (EoI) for strategic disinvestment of its entire stake of 63.75% in Shipping Corp of India, along with the transfer of management.

The last date for submitting the bids was February 13, which was later extended to March 1.

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In November last year, the Cabinet had given an in-principle approval for strategic divestment of Shipping Corp and Container Corporation. However, the plans were delayed due to the pandemic.

In her Budget speech for 2021-22 Finance Minister Nirmala Sitharaman had said, "a number of transactions namely BPCL, Air India, Shipping Corp of India, Container Corp of India, IDBI Bank, BEML, Pawan Hans, Neelachal Ispat Nigam among others would be completed in 2021-22."

For 2021-22, the government has set a disinvestment target of Rs 1.75 lakh crore, over five times what it is aiming to raise in the current financial year. In the revised estimates, the target has been set at Rs 320 billion for current fiscal.

How the above developments pan out remains to be seen. Meanwhile, we will keep you updated on the latest developments from this space.

Moving on to news from the banking sector, HDFC Bank is among the top buzzing stocks today.

India's largest private lender, HDFC Bank said issues related to internet banking were resolved after some customers faced the second outage in three months.

"There were intermittent issues in accessing Net Banking and Mobile Banking, faced by some of our customers. The issue stands resolved," the bank's spokesman said in a text message.

Note that the nation's most valuable lender has been facing repeated technical glitches for its netbanking platform, an issue which prompted the central bank to take rare steps recently including an external audit of the bank's technology infrastructure, and curbing digital and credit card launches.

Digital payments have jumped to a record high in India as the coronavirus pandemic dissuades people from going out and using cash.

Meanwhile, HDFC Securities, the brokerage arm of the bank, also experienced technical glitches on Monday. It said investigations are on to identify the root cause of the outage.

HDFC Bank share price has opened the day up by 1.5%.

Note that, HDFC Bank is one that has always adapted to changing times.

HDFC Bank wanted to transform itself from a leader in the physical banking to a leader in online banking. Since then, HDFC Bank has constantly focused on going digital.

In 2004, only 10% of customer transactions were initiated through internet and mobile. The number has gone up to 92% in 2019.

HDFC Bank's Digital Transformation

It is a great example of a company which has taken advantage of its scale and embraced disruption rather than fear it.

These are traits that one should look for in picking stocks. They not only withstand the disruption but also gain from it in the long-run.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


What else is happening in the markets today? Dig in...

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Stock Market Updates

RAIN INDUSTRIES Share Price Down by 6%; BSE 500 Index Down 2.6% (Today's Market)

Apr 12, 2021 10:00 AM

RAIN INDUSTRIES share price is trading down by 6% and its current market price is Rs 164. The BSE 500 is down by 2.6%. The top gainers in the BSE 500 Index are JUBILANT PHARMOVA (up 6.2%) and IPCA LABS (up 5.3%). The top losers are RAIN INDUSTRIES (down 5.8%) and BAJAJ FINANCE (down 5.1%).

VOLTAS Share Price Down by 6%; BSE CONSUMER DURABLES Index Down 4.0% (Today's Market)

Apr 12, 2021 09:39 AM

VOLTAS share price is trading down by 6% and its current market price is Rs 994. The BSE CONSUMER DURABLES is down by 4.0%. The top losers are VOLTAS (down 6.2%) and SYMPHONY (down 5.9%).

VA TECH WABAG Share Price Down by 7%; BSE CAPITAL GOODS Index Down 3.7% (Today's Market)

Apr 12, 2021 09:39 AM

VA TECH WABAG share price is trading down by 7% and its current market price is Rs 254. The BSE CAPITAL GOODS is down by 3.7%. The top losers are VA TECH WABAG (down 6.9%) and HEG (down 7.8%).

SHRIRAM TRANSPORT Share Price Down by 8%; BSE 500 Index Down 3.2% (Today's Market)

Apr 12, 2021 09:39 AM

SHRIRAM TRANSPORT share price is trading down by 8% and its current market price is Rs 1,412. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are GSK CONSUMER (up 5.1%) and JUBILANT PHARMOVA (up 5.0%). The top losers are SHRIRAM TRANSPORT (down 8.0%) and BAJAJ FINANCE (down 6.4%).

J&K BANK Share Price Down by 6%; BSE BANKEX Index Down 4.3% (Today's Market)

Apr 12, 2021 09:38 AM

J&K BANK share price is trading down by 6% and its current market price is Rs 26. The BSE BANKEX is down by 4.3%. The top losers are J&K BANK (down 6.5%) and INDUSIND BANK (down 8.2%).

SGX Nifty Trades 238 Points Lower; Indicates Gap-Down Opening for Indian Stock Markets (Today's Market)

Apr 12, 2021 SGX Nifty

Trends on SGX Nifty indicate a gap-down opening for Indian stock markets.

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Apr 12, 2021 11:37 AM

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