4 Reasons Why Sensex Surged 750 Points Today
Closing

Indian share markets witnessed positive trading activity throughout the day today and ended on a strong note.

Benchmark indices rebounded amid broad-based buying after they suffered their biggest one-day drop last week on Friday.

At the closing bell, the BSE Sensex stood higher by 750 points (up 1.5%).

The NSE Nifty closed higher by 232 points (up 1.6%).

Power Grid and ONGC were among the top gainers today.

The SGX Nifty was trading at 14,795, up by 235 points, at the time of writing.

The BSE Mid Cap index ended up by 1.5%, and the BSE Small Cap index ended up by 1.6%.

On the sectoral front, gains were largely seen in the automobile sector, metal sector and power sector. Telecom stocks, on the other hand, witnessed selling pressure.

US stock futures are trading firm today indicating a positive opening for Wall Street indices. Nasdaq Futures are trading up by 183 points (up 1.4%), while Dow Futures are trading up by 323 points (up 1%).

The rupee is trading at 73.54 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.6% at Rs 45,989 per 10 grams.

Gold edged higher today, recovering from an eight-month low touched in the previous session, as a weaker dollar lifted bullion's appeal.

Physical gold demand in India gained momentum last week as retail buyers and jewellers lapped up bullion at near eight-month low prices, while Singapore continued to see steady interest for both gold and silver.

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Here are Top 4 Factors Why Indian Share Markets Rallied Today

Firm Global Cues: Asian share markets bounced back following their worst drop in almost a year last week after a spike in global bond yields spooked investors already uneasy about the market's stretched valuation.

Japan's Topix Index jumped the most in seven months, as a pause in selloffs in US treasuries boosted the tech-heavy Nasdaq index and lifted domestic shares of chipmakers.

The Nikkei ended up by 2.4%. The Shanghai Composite ended up 1.2%. It fell 5.1% last week, its biggest weekly percentage drop since February 2020.

Encouraging GDP Numbers: Indian share markets also reacted to encouraging Q3 GDP data announced after market hours on Friday.

India's GDP grew 0.4% in October to December, compared with a revised contraction of 7.3% in July to September.

Macro Data: Manufacturing activity in India eased marginally in February and employment decreased further amid the Covid-19 restrictions, a private survey showed.

The IHS Markit India Manufacturing Purchasing Managers' Index was 57.5 in February compared to 57.7 in January but remained above its long-run average of 53.6.

US Stimulus Package: The rebound in global bond markets and developments related to the US stimulus package buoyed markets in Asia and India.

US House of Representatives passed a US$ 1.9 trillion coronavirus relief package early Saturday. Democrats who control the chamber approved the sweeping measure by a mostly party-line vote of 219 to 212 and sent it to the Senate, where Democrats planned a legislative manoeuvre to allow them to pass it without the support of Republicans.

We will keep you updated on how these factors develop in the coming days and what effect they have on Indian stock markets. Stay tuned!

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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.

Tune in to the below video to find out more:

Moving on to stock specific news...

RailTel Corp of India was among the top buzzing stocks today.

Shares of RailTel rallied 20% in intra-day trade today after institutional investors bought a stake in the company via open market on its debut day on Friday.

The stock of the state-owned telecom infrastructure provider made a strong debut on the bourses last week as it got listed at a 28% premium at Rs 120.60.

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On Friday, Goldman Sachs India Fund and Nippon India Mutual Fund collectively bought 10.7 million equity shares of RailTel worth Rs 1.2 billion through block deals on the NSE, the exchange data shows.

Goldman Sachs India Fund bought 3.71 million equity shares in the company at Rs 113.57 per share on the NSE.

Nippon India Mutual Fund bought 5 million shares at Rs 109 per share, while, Nippon India Mutual Fund-Multi Cap Fund bought 2 million shares at Rs 116.13 per share, data shows.

RailTel is one of the largest neutral telecom infrastructure providers in India.

RailTel Corp of India share price ended the day up by 20%.

Speaking of smallcap stocks, since the lows in March 2020, the smallcap index has gained more than 100%.

The BSE Smallcap index is trading near the levels seen in January 2018, when smallcaps had peaked.

While caution is indeed warranted, Richa Agrawal, lead Smallcap Analyst at Equitymaster, thinks there is still a lot more steam left to this smallcap rebound rally.

Have a look at the history of previous smallcap crashes and rebounds over the last two decades...

As you can see, every big fall in the smallcap index was followed by a sharp up move, a minimum gain 200%. Twice the rebounds were just shy of touching 300%.

Richa believes if you focus on the quality of business, margin of safety in valuations, and an optimum asset allocation, you are likely to create huge wealth for yourself.

Also speaking of smallcaps, in one of his videos for Fast Profits Daily, Brijesh Bhatia talks about why smallcap stocks will outperform the Nifty 50 index and for how long such outperformance could last.

As per Brijesh, the smallcap rally has only just begun.

You can watch the video here: Smallcaps Will Outperform the Nifty

Moving on to news from the automobile sector, country's largest carmaker Maruti Suzuki today reported a 11.8% increase in wholesales to 1,64,469 units in February. The company had sold 1,47,110 units in February last year.

Domestic sales increased 11.8% to 1,52,983 units last month, as against 1,36,849 units in February 2020.

Sales of mini cars, comprising Alto and S-Presso, declined by 12.9% to 23,959 units, as compared to 27,499 in the same month last year.

Sales of compact segment vehicles, including models Swift, Celerio, Ignis, Baleno and Dzire, increased by 15.3% to 80,517 units, as against 69,828 cars in February last year.

Sales of mid-sized sedan Ciaz, however, declined by 40.6% to 1,510 units, as compared to 2,544 units in February 2020.

Utility vehicle sales, including Vitara Brezza, S-Cross and Ertiga, rose 18.9% to 26,884 units, as compared to 22,604 units in the year-ago month.

Exports in February were up 11.9% at 11,486 units, as against 10,261 units in the corresponding month last year.

Maruti Suzuki share price ended the day up by 2.1%.

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


Sensex Trades Over 300 Points Higher; Dow Futures Up by 204 Points
12:30 pm

Share markets in India are presently trading on a strong note.

The BSE Sensex is trading up by 378 points, up 0.7% at 49,478 levels.

Meanwhile, the NSE Nifty is trading up by 165 points.

ONGC and Mahindra & Mahindra is among the top gainers today. Bharti Airtel and SBI Life are among the top losers today.

The BSE Mid Cap is trading up by 0.8%.

The BSE Small Cap index is trading up by 1.2%.

On the sectoral front, stocks from the banking sector are witnessing most of the buying interest.

On the other hand, stocks from the banking sector are witnessing most of the selling pressure.

US stock futures are trading higher today, indicating a positive opening for Wall Street.

Nasdaq Futures are trading up 152 points (up 1.2%) while Dow Futures are trading up by 204 points (up 0.6%)

The rupee is trading at 73.26 against the US$.

Gold prices are trading up 0.6% at Rs 46,010 per 10 grams.

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Speaking of the precious metal, the twelfth tranche of Sovereign Gold Bond 2020-21 opens for subscriptions today and will continue till March 5, 2021.

Launched in 2015, Sovereign Gold Bonds are government securities denominated in grams of gold. It is often touted as a superior alternative to holding gold in physical form.

The gold bonds are issued by the Reserve Bank of India, on behalf of government of India. The issue price has been fixed at Rs 4,662 per gram.

To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?

Moving on to stock specific news...

Among the buzzing stocks today is Reliance.

Reliance Strategic Business Ventures (RSBVL), a wholly owned subsidiary of Reliance Industries (RIL), has acquired an additional equity stake in its investee company skyTran Inc, the company announced on February 28, 2021.

The additional equity stake was acquired by RSBVL for a consideration of US$ 26.8 million, increasing its shareholding to 54.5% on a fully diluted basis, said the statement.

skyTran, a technology company incorporated under the laws of Delaware, US, in 2011, has "developed breakthrough passive magnetic levitation and propulsion technology for implementing personal transportation systems aimed at solving the problem of traffic congestion globally", the statement said.

RIL Chairman, Mukesh Ambani said the acquisition of a majority equity stake in skyTran reflects his conglomerate's commitment to invest in "building futuristic technologies that would transform the world".

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We firmly believe that non-polluting high speed personal rapid transportation system will help facilitate environmental sustainability through efficient use of alternative energy and make an impactful reduction in air and noise pollution," Ambani further said.

For the deal with skyTran, the law firms Covington & Burling LLP and Freshfields Bruckhaus Deringer US LLP acted as legal counsel and IP counsel respectively to Reliance Industries, the company noted.

How this pans out remains to be seen. Meanwhile stay tuned to more updates from this space.

At the time of writing, Reliance share price was trading down by 0.9% on the BSE.

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani discusses why the stock market went up on February 24, 2021, when the NSE had to shut trading due to a technical glitch, in his latest video for Fast Profits Daily.

Tune in to the video below to find out more:

Moving on to news from the telecom sector...

Telecom Spectrum Auctions Begins Today: All You Need to Know

For the first time in four years, India's telecom spectrum auction will kickstart on March 1, 2021, for the fourth-generation (4G) mobile networks.

Note that the Union Cabinet, on December 16, 2021. had approved the auction of 2,251 megahertz (MHz) of the spectrum by the end of FY21 at a reserved price of Rs 3920 billion.

The government will offer spectrum across seven bands-700 MHz, 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, and 2,500 MHz, according to a notice issued by the Department of Telecommunications (DoT) in January.

The three big telecom companies - Airtel, Vodafone Idea, and Reliance Jio will participate in the auction. The spectrum bought will be valid for 20 years.

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The Earnest Money Deposit (EMD) amount by Reliance Jio is the highest among the bidders at Rs 100 billion, earning the highest eligibility points, followed by Vodafone Idea at Rs 47.5 billion and Rs 30 billion by Bharti Airtel.

The bidders have an option to pay 50% upfront of the final bid for the 1,800, 2,100, 2,300, and 2,500 MHz bands, with the remaining amount paid in equated 16 instalments over a period of two years at an interest rate of 7.3%, following a two year moratorium.

For the 700, 800 and 900 MHz bands, the upfront amount is 25% of the successful bid.

The final bidders will also be required to pay 3% of the Adjusted Gross Revenue (AGR) excluding wireline services as spectrum usage charges for the spectrum won through this auction

The government allows spectrum sharing between telecom service providers in particular spectrum bands acquired in the auction after one year from the date of 'Frequency Assignment.'

The auction will not have the high-priced fifth-generation (5G) airwaves. The telecommunication companies have earlier shown reservations over the high prices.

We will keep you posted on more updates from this space. Stay tuned.

Speaking of stocks, here's a pattern that if you see, you must sell your position. After all, exits are more important than entries.

In the chart below, we can see the head and shoulder pattern - the stock goes up, makes a high, falls a little bit, goes up to a higher high, does not make a higher low, rallies again, fails to make a new high, and then starts to break down.

This usually happens in a situation where a stock or index has typically been in a bull trend for a while.

If you're interested in trading and want to know how you can use this pattern, you can read about it in one of the recent editions of Profit Hunter here: It's When You Sell that Counts

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


Sensex Rallies 600 Points in Opening Trade; Power Grid & Tech Mahindra Top Gainers
09:30 am

Asian stock markets firmed today as bond markets calmed down, while progress in the huge US stimulus package underpinned optimism about the global economy.

The Nikkei is trading up by 2.3% while the Hang Seng is up 1.8%.

In US stock markets, Wall Street's main indexes extended losses on Friday as fears of a potential rise in inflation kept US bond yields around one-year high, while tech stocks clawed back some losses.

The benchmark 10-year US treasury yield eased 10 basis points to around 1.42% on Friday, after surging above 1.6% at one point on Thursday.

The Dow Jones Industrial Average ended lower by 1.5%, while the tech heavy Nasdaq ended higher by 0.6% as big tech names rebounded after a large sell-off in the previous session amid surging bond yields.

All three major averages posted weekly losses as fears of higher interest rates and inflation deepened. The Dow fell 1.8%, and the Nasdaq was the relative underperformer this week, losing 4.9%.

Back home, Indian share markets have opened on a strong note, following the trend on SGX Nifty and tracking gains in Asian peers.

Market participants will track the Markit Manufacturing PMI data, which is scheduled to be released later today.

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The BSE Sensex is trading up by 620 points. Meanwhile, the NSE Nifty is trading higher by 165 points.

Power Grid is among the top gainers today. Bharti Airtel, on the other hand, is among the top losers today.

The BSE Mid Cap index has opened up by 0.7%. The BSE Small Cap index is trading higher by 0.8%.

Barring telecom and metal stocks, all sectoral indices are trading on a positive note with stocks in the auto sector and oil & gas sector witnessing most of the buying interest.

The rupee is trading at 73.61 against the US$.

Gold prices are trading up by 0.8% at Rs 46,091 per 10 grams.

Gold edged higher today, recovering from an eight-month low touched in the previous session, as a weaker dollar lifted bullion's appeal.

Bullion, however, posted its worst monthly fall since November 2016 in February due to rising US Treasury Yields, which increase the opportunity cost of holding non-yielding gold.

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Physical gold demand in India gained momentum last week as retail buyers and jewellers lapped up bullion at near eight-month low prices, while Singapore continued to see steady interest for both gold and silver.

Speaking of the precious yellow metal, how lucrative has gold been as a long-term investment in India?

The chart below shows the annual returns on gold over the last 15 years...

As you can see, barring just two years - 2013 and 2015, gold has delivered positive returns in 13 of the last 15 years.

Even with the recent volatility in prices, gold remains among the best performing commodities this year to combat the fallout from the coronavirus pandemic.

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.

Tune in to the below video to find out more:

In news from the financial markets, as Indian stock markets continued to scale new highs post the Union Budget, the net foreign portfolio investments (FPI) into the Indian equities in February was Rs 257.9 billion.

The total net FPIs in 2020 now stand at Rs 452.6 billion, as per NSDL data.

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Foreign investments have continued to flow in post the Union Budget which announced further liberalisation measures including privatisation of banks and also did not come up with a new tax levy.

So far, in the financial year 2021-22, net FPIs into equities stood at Rs 2.63 lakh crore, the highest ever FPI inflow into the country.

Further, the net foreign institutional investment (FII) during the month was Rs 420.4 billion.

However, the recent bond yield surge both in the US and the domestic market have caused a frenzy in among the investors leading to bear run in the stock markets.

Last week, the market see-sawed with both the bulls and bears swinging it out.

On 13th February 2020, Brijesh Bhatia had highlighted in his Momentum Moves video about how the Nifty and Nasdaq could reverse.

Since then, the Nifty is down by 6% from its high whereas the Nasdaq is down by more than 7%.

In our latest Momentum Moves video, Brijesh Bhatia explains why the Nifty is weak and could head to 14,000-levels.

In the video, Brijesh also explains why he thinks smallcaps are looking good.

As per Brijesh, the smallcap index has formed a bottom after a couple of bearish years and likely to outperform Nifty in next couple of quarters. Investors should look to increase their allocation in smallcaps over largecaps.

You can watch the video here: Nifty is Weak but Smallcaps Can Outperform

Moving on to stock specific news...

Axis Bank is among the top buzzing stocks today.

Axis Bank on Saturday said its board has approved a proposal to reclassify United India Insurance Company (UIICL) as a public shareholder category investor in the bank from promoter category.

UIICL, one of the promoters of Axis Bank, had requested the bank through a letter dated February 26, 2021 to reclassify the insurer to public category from promoter category, in accordance with listing regulations of markets regulator, Axis Bank said in a regulatory filing.

"The said letter was placed for consideration of the board at its meeting held today. The board at the said meeting has considered and approved the said request received from UIICL to reclassify it to public category from promoter category," said the lender.

UIICL held 0.03% of the total issued and paid-up equity share capital of Axis Bank as on February 20, 2021.

The private sector lender said it will seek approval from the shareholders through an ordinary resolution for the required reclassification.

Axis Bank share price has opened the day up by 1.6%.

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


SGX Nifty Trades 221 Points Higher; Indicates Gap-Up Opening for Indian Stock Markets
SGX Nifty

The SGX Nifty opened on a positive note today.

At 8:10 am, it was trading up by 221 points, or 1.6% higher at 14,750 levels.

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

Asian stock markets firmed today as bond markets calmed down, while progress in the huge US stimulus package underpinned optimism about the global economy.

The Nikkei is trading up by 2.3% while the Hang Seng is up 1.8%.

In US stock markets, Wall Street's main indexes extended losses on Friday as fears of a potential rise in inflation kept US bond yields around one-year high, while tech stocks clawed back some losses.

The benchmark 10-year US treasury yield eased 10 basis points to around 1.42% on Friday, after surging above 1.6% at one point on Thursday.

The Dow Jones Industrial Average ended lower by 1.5%, while the tech heavy Nasdaq ended higher by 0.6% as big tech names rebounded after a large sell-off in the previous session amid surging bond yields.

All three major averages posted weekly losses as fears of higher interest rates and inflation deepened. The Dow fell 1.8%, and the Nasdaq was the relative underperformer this week, losing 4.9%.

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Despite weakness last week, all three benchmarks finished February with modest gains. The Dow climbed 3.2% while the Nasdaq gained 0.9%.

US stock futures are trading higher today indicating a positive opening for Wall Street indices. Dow Futures are trading up by 249 points while Nasdaq futures are up 1.2%.

Crude oil prices rose more than US$ 1 today on optimism in the global economy thanks to progress in a huge US stimulus package and on hopes for improving oil demand as vaccines are rolled out.

Here are the key events due later this week:

  • US - Jobless Claims, Factory Orders and Natural Gas Storage - Thursday
  • India - Exports, Imports and Trade Balance - Monday
  • India - Forex Reserves - Friday

Back home, DHFL and Nava Bharat Ventures will be among the top buzzing stocks today.

In our previous Momentum Moves video, Brijesh had highlighted about how the Nifty and Nasdaq could reverse. Since then, the Nifty is down 6% from its high whereas the Nasdaq is down by more than 7%.

In our latest Momentum Moves video, Brijesh Bhatia explains why the Nifty is weak and could head to 14,000-levels.

In the video, Brijesh also explains why he thinks smallcaps are looking good.

As per Brijesh, the smallcap index has formed a bottom after a couple of bearish years and likely to outperform Nifty in next couple of quarters. Investors should look to increase their allocation in smallcaps over largecaps.

You can watch the video here: Nifty is Weak but Smallcaps Can Outperform

To know the top cues in today's stock market session, check out the pre-open commentary here.

Stay tuned for more updates on Indian stock markets in the upcoming commentary.


Bloodbath on Dalal Street, MTAR Technologies IPO, and Buzzing Stocks Today
Pre-Open

Indian share markets witnessed a sharp sell-off on Friday and ended deep in the red.

The selling dragged the benchmark Sensex lower by more than 2,148 points and made the Nifty trade below 14,500-mark. For the Sensex, it was the worst daily fall since May 2020.

At the closing bell on Friday, the BSE Sensex stood lower by 1,939 points (down 3.8%).

Meanwhile, the NSE Nifty ended down by 568 points (down 3.8%).

ONGC and Mahindra & Mahindra were among the top losers.

The BSE Mid cap index and the BSE Small cap index ended down by 1.8% and 0.8%, respectively.

On the sectoral front, banking stocks and finance stocks were among the hardest hit.

The banking sector and finance sector ended down by 4.9% and 4.6%, respectively.

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At 8:00 am today, the SGX Nifty was trading up by 210 points, or 1.5% higher at 14,740 levels. Indian share markets are headed for a firm opening today following the trend on SGX Nifty.

Gold prices were trading up by 0.5% at Rs 46,460 per 10 grams at the time of closing stock market hours on Friday.

Speaking of stock markets, in our latest Momentum Moves video, Brijesh Bhatia explains why the Nifty is weak and could head to 14,000-levels.

In the video, Brijesh also explains why he thinks smallcaps are looking good.

As per Brijesh, the smallcap index has formed a bottom after a couple of bearish years and likely to outperform Nifty in next couple of quarters. Investors should look to increase their allocation in smallcaps over largecaps.

Tune in to the video below to find out more:

Top 5 Factors Why Indian Stock Markets Crashed on Friday

Rising Bond Yields: A jump in bond yields both in the US and India have unsettled investors. As per media reports, US Treasury yields touched their highest levels since the outbreak of coronavirus pandemic on expectations of a strong economic expansion and related inflation.

Not only in the US, but bond yields are also rising in many other top economies, including Japan.

Weak Global Cues: Asian share markets witnessed huge selling after Wall Street's main indexes tumbled, following a steep rise in benchmark US Treasury yields.

Rising Covid-19 Cases: Covid-19 cases have started spiking in some regions of India, spooking investors who believed the crisis was all but over.

Rising Geopolitical Tensions: Rising geopolitical tension also weighed on the market sentiment globally. As reported by Reuters, US President Joe Biden on Thursday directed US military airstrikes in eastern Syria against facilities belonging to what the Pentagon said were Iran-backed militia, in a calibrated response to recent rocket attacks against US targets in Iraq.

Profit Booking: Apart from the above, losses were also seen as share market succumbed to profit-booking.

We will keep you updated on how these factors develop in the coming days and what effect they have on Indian stock markets. Stay tuned!

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Speaking of stock markets, India's #1 trader, Vijay Bhambwani talks about how you can profitably trade stocks, commodities, and currencies on the same day, in his latest video for Fast Profits Daily.

Tune in to the video below to find out more:

Top Stocks in Focus Today

DHFL will be among the top buzzing stocks today.

DHFL said that it has received no objection from the Reserve Bank of India (RBI) and has filed an application with the National Company Law Tribunal (NCLT) for submission of the resolution plan of Piramal Capital & Housing Finance.

The resolution plan has been approved by the Committee of Creditors (CoC).

Nava Bharat Ventures share price will also be in focus today as the board of the company approved the proposal for buyback of fully paid up equity shares of face value of Rs 2 each for an aggregate amount not exceeding Rs 1.5 billion.

The board of directors on February 26 approved the buyback of fully paid-up equity shares of face value of Rs 2 each for an amount not exceeding Rs 1.5 billion, which is 5.05% and 3.94% of the total paid-up equity share capital and free reserves of the company, Nava Bharat said in an exchange filing.

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MTAR Technologies IPO to Open This Week

In news from the IPO space...

MTAR Technologies, a precision engineering solutions company, is set to launch its initial public offering (IPO) for subscription this week on March 3, 2021.

Through this issue, the company looks to raise Rs 5.9 billion, at the upper end of the price band. The issue will close for subscription on March 5, 2021. The issue comprises a fresh issue of 21.48 lakh equity shares by the company and an offer for sale (OFS) of 82.24 lakh equity shares by promoters and investors.

The company has fixed the price band of the issue at Rs 574-575 per share of face value of Rs 10 each.

The Hyderabad-based company has precision engineering capabilities to build nuclear and pressurized water reactors, aerospace engines, missile systems, aircraft components and many such other critical components and assemblies.

MTAR supplies high-precision machine fabricated systems to DRDO Labs, Bharat Dynamics, HAL, BEL, etc., and other defence R&D.

In the calendar year 2021, MTAR Technologies would be the ninth public issue after Indian Railway Finance Corporation (IRFC), Indigo Paints, Home First Finance Company India, Stove Kraft, Brookfield India REIT, Nureca, RailTel Corporation of India and Heranba Industries.

Reports state that the recent government initiatives such as Make in India, India aiming to become an exporter in defense sector, rising budgetary allocations for defense and space sectors, provide a great opportunity to companies such as MTAR Technologies.

How the above IPO sails through remains to be seen. Meanwhile, stay tuned for more updates from this space.

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