Gift Nifty Down 29 Points | Wipro Acquires Stake in SDVerse LLC | Nazara Technologies Allocates Shares to Zerodha | Top Buzzing Stocks Today

Wed, 6 Mar Pre-Open

   Previous Close   

   10:30 am   

   Closing   

On Tuesday, Indian share markets turned negative as the session progressed and ended the day lower.

Benchmark indices recouped intra-day losses in Tuesday's trade, led by gains in PSU Banks and auto shares.

At the closing bell on Tuesday, the BSE Sensex closed higher by 195 points (down 0.2%).

Meanwhile, the NSE Nifty closed lower by 49 points (down 0.2%).

Tata Motors, Bharti Airtel and ONGC were among the top gainers.

Bajaj Finance, Nestle and Infosys on the other hand, were among the top losers.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets ended the day lower. The BSE Mid Cap and the BSE Small Cap index ended 0.2% lower.

Sectoral indices are trading positive, with socks in oil & gas sector and auto sector witnessing buying. Meanwhile stocks in media sector and IT sector witnessed selling pressure.

Gold prices for the latest contract on MCX were trading 0.3% higher at Rs 64,650 per 10 grams at the time of Indian market closing hours on Tuesday.

At 7:35 AM today, the Gift Nifty was trading 29 points lower at 22,411 levels.

Indian share markets are headed for a negative start today following the trend on Gift Nifty.

Speaking of stock markets, co-head of Research at Equitymaster Tanushree Banerjee talks about HUL and Dixon Technologies, in her latest video.

Which is the safer stock to go with in a market crash?

Tune in to the below video to find out:

Top buzzing stocks today

Tata Motors share price will be in focus today.

Shares of Tata Motors on Tuesday rallied 7.9% as investors pinned hopes on better value discovery from the proposed demerger of its passenger vehicle and commercial vehicle businesses.

This notable uptick in share value followed investor enthusiasm spurred by the company's strategic decision to demerge its commercial and passenger vehicle segments into two distinct listed entities..

Paytm will also be a top buzzing stock.

Shares of Paytm parent One 97 Communications Ltd fell nearly 3% on 5 March morning after around 58.2 lakh shares, or 0.9% equity, changed hands.

Over the last month, Paytm has fallen over 7%, paring huge losses that followed the RBI's decision severely curtailing the activities of its banking arm.

Value Stocks: For People Who Never Like Overpaying for Anything

Wipro Acquires Stake in SDVerse LLC

IT major Wipro on 5 March announced it acquired a 27% stake in SDVerse, an automotive software marketplace platform with General Motors and Magna.

Wipro, with General Motors and Magna, will develop SDVerse, a B2B sales platform for buying and selling automotive software.

Wipro will invest US$ 5.9 million (Rs 484.9 m) in cash in the company. Wipro's step-down subsidiary, Wipro IT Services LLC has entered into an agreement with General Motors and Magna International, who will hold 46% and 27% stake in SDVerse respectively.

The transaction is expected to be completed before the end of March 2024.

The company further said in the regulatory filing that the ecosystem of automotive software is underdeveloped and offers tremendous growth opportunities by opening up new revenue streams and broadening the customer base.

SDVerse focuses on connecting automotive software buyers and sellers through a transparent and efficient digital platform.

Nifty PSU Bank Hits 52-week High

The Nifty PSU bank index gained 2.4% to hit a new 52-week high of 7,312 on 5 March, powered by gains in Indian Overseas Bank, UCO Bank, Central Bank, and Punjab and Sind Bank. The 12-stock Bank Nifty was up 0.5% at the day's high of 47,737.

Nifty PSU bank has surged more than 27% this year, so far, against a 1.4% decline in Bank Nifty.

This was on the back of increasing comfort in the outlook for asset quality and return ratios that have driven PSU bank stocks.

Nazara Technologies Allocates Shares to Zerodha

Nazara Technologies has allotted 11.5 lakh shares to brothers Nithin Kamath and Nikhil Kamath, founders of broking firm Zerodha, on a preferential basis for Rs 1 bn.

The gaming company, which is a part of Rakesh Jhunjhunwala's portfolio, recently allotted 28.66 lakh shares to seven investors for an aggregate of Rs 2.5 bn, at Rs 872.15 per share.

Plutus Wealth Management LLP has also been allotted 5.73 lakh shares for Rs 50 crore. Chartered Finance & Leasing Limited, ICICI Prudential ESG Fund, ICICI Prudential Flexicap Fund, and ICICI Prudential Technology Fund were allotted the remaining 11.46 lakh shares.

Nazara Technologies is a mobile gaming company and sports media platform based in Mumbai. In 2018, Rakesh Jhunjhunwala invested about Rs 1.8 bn in the company through a secondary transaction.

SpiceJet Settles Dispute

Private carrier SpiceJet settled a Rs 930 m dispute with one more aircraft lessor Cross Ocean Partners.

The parties made this joint announcement before the Delhi High Court in the ongoing execution petition being pursued by Cross Ocean Partners. The settlement is expected to result in significant savings for SpiceJet and also put an end to the dispute.

As part of the arrangement, the airline will also benefit from the transfer of an airframe and an engine at no additional cost, augmenting its operational capabilities.

The carrier had last week also mutually settled its Rs 2.5 bn dispute with AerCap's subsidiary Celestial Aviation.

SpiceJet recently secured investments, totalling Rs 10.6 bn through a preferential issue, with notable investors including Aries Opportunities Fund Limited and Elara India Opportunities Fund.

Part of these funds will be allocated towards settling past liabilities.

The airline reportedly plans a Rs 22.5 bn fundraising effort by selling shares and warrants.

SpiceJet, which has been facing multiple headwinds, is of the view that the raised funds are expected to play a pivotal role in financing operational expansion initiatives, including fleet enhancement, route network expansion, and technological advancements.

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

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers