Sensex ends 224 pts higher in uneven trade, Nifty flat; Adani Ent skids 27%

CLOSING BELL: Broader markets, however, outperformed benchmark indices as Nifty MidCap 100 and Nifty SmallCap 100 indices surged up to 0.5 per cent

4:20 PM

NIFTY VIEW: Index in a tight range of 17,650-17,450

The Nifty witnessed swings in both the directions on February 2 & ultimately posted a minor negative close.

Despite multiple attempts, the index couldn’t sustain in the positive territory. The hourly chart shows that the 20 HMA acted as a cap on the higher side, whereas the hourly lower Bollinger Band offered support to the index.

Thus 17650 – 17450 is the tight range within the overall short term range of 17350-18000. The bulls can get some relief if the index crosses 17650-17700 area on the higher side.

Views by Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

 

4:18 PM

EXPERT VIEW: Market focus back on global cues, monetary policy with Budget now over

Balancing the expectations of an aspirational country like ours with fiscal prudence is no mean task.

The first budget of ‘Amritkaal’ did a fine job of balancing the two, especially against a challenging global backdrop.

This budget builds up on the reforms initiated over the past few years with a focus on improving India’s growth potential and quality of life.

Continued focus on capex, job creation and special mention of financial sector reforms are encouraging. Now with the event behind us, markets’  focus shifts back to global cues, monetary policy and incoming data points.

Views by Navneet Munot, MD & CEO, HDFC AMC

4:16 PM

CLOSING VIEW: Adani saga, high mkt valuation weighing on indices

Despite a growth oriented budget, drop in crude prices and upside in the global market, the domestic market is not able to gain because of the Adani saga having a ripple impact on the investors.

In addition, the premium valuation of India continues to weigh down the performance compared to other emerging markets which are expecting upside in the economy. The global markets are positive in assumption of being in the last phase of the rate hikes.

Views by Vinod Nair, Head of Research at Geojit Financial Services.

4:12 PM

Rupee weakens to end at 82.17/$ vs Wednesday’s close of 81.92/$

4:11 PM

Rs 8.8 trillion market value of Adani Group wiped off

Adani Group has erased its market cap by nearly 50 per cent from Rs 19.2 trillion as on January 24. 

4:07 PM

TCI Express plunges 9% on poor Q3 result

Net profit in Q3 came 8.9 per cent lower from last year.

4:01 PM

Tata Chemicals record 27% YoY rise in Q3 PAT; stock gains 1%

3:59 PM

Whirlpool slumps 6% as Q3 PAT falls 38% YoY

3:54 PM

HDFC loses 2% as Q3 results miss expectations

3:50 PM

FMCG, IT indices top sectoral winners; Metal pocket sinks 4%

3:47 PM

Broader indices log similar gains as that of Sensex

3:43 PM

Ambuja Cement, ACC escape Adani group crash today

3:42 PM

Britannia, ITC zoom 5% each on Nifty

3:41 PM

Adani Ent top Nifty loser, plunges 27%; Adani Ports sheds 7%

3:39 PM

HEATMAP: HDFC, NTPC top Sensex drags; ITC, IndusInd Bk, HUL outshine

3:37 PM

CLOSING BELL: Nifty weighed down by Adani shares; ends flat at 17600

3:35 PM

CLOSING BELL: Sensex recoups 716 pts from day's low to end 224 pts higher

3:25 PM

HDFC Life hits lowest level since May 2020; slumps 17% in two days

Shares of HDFC Life Insurance Company hit slipped 6 per cent to hit an over two-year low of Rs 483.10 on the BSE in Thursday’s intra-day trade on the back of heavy volumes. The stock was quoting at its lowest level since May 2020. Read here

3:15 PM

European shares rise as investors await ECB rate decision

3:04 PM

Global Check:: UK, Nasdaq futures up over 1%

Source: Investing.com

2:57 PM

SBI gave loans worth $2.6 billion to Adani group companies, says report

State Bank of India, the country’s largest financier, has given loans of as much as $2.6 billion to companies in the Adani conglomerate, or about half of what is allowed under rules, according to a person familiar with the matter. READ MORE

2:51 PM

Indian aviation industry suffers over Rs 24,000 cr loss in 2020-22

India's aviation industry suffered a loss of over Rs 24,000 crore in the last two financial years during 2020-22. In a reply at the Lok Sabha on Thursday, the Ministry said the Centre has taken various initiatives to support the aviation industry. READ MORE

2:44 PM

PM Modi's election Budget unlikely to delay RBI path to rate pause

The new tax rates are unlikely to add to inflationary pressures in the economy in the near-term, said economists including Nirmal Bang Institutional Equities Pvt.'s Teresa John. READ MORE 

2:35 PM

BSE 500:: Adani Group stocks, TCI Express, HDFC Life among top losers

Adani Enterprises down 20 per cent was the top loser among the BSE 500 stocks. TCI Express, Adani Total Gas, Adani Transmission and Adani Green down 10 - 12 each were the other major losers so far on Thursday.

2:24 PM

Sterling Tools hits 4-year high on strong Q3 results; surges 40% in 1 month

The revenue growth was primarily driven by increase in content per vehicle, overall robust industry demand & parts SOB increase in select OEM's. READ MORE

2:14 PM

Global Check:: Taiwan shines in mixed Asian trade

Source: Yahoo Finance

2:05 PM

Electronics manufacturing, auto get best of Budget spending on PLI scheme

Union Budget 2023-24 has earmarked Rs 8,083 crore for production linked incentive schemes (PLI), a bulk of the money going for large-scale electronics manufacturing, which includes mobile devices, pharma, auto and auto components, and food processing. READ MORE

1:55 PM

Hindenburg bet against India's Adani puzzles rival US short sellers

Typically, investors who want to bet that the company's stock will fall borrow shares in the market and sell them, hoping to buy them back at a lower price, in a practice called short selling. READ MORE 

1:45 PM

Earnings Alert: HDFC Q3 net rises 13.2%; stock down 2%

HDFC reported a 13.2 per cent rise in in Q3 net profit at Rs 3,691 crore for the quarter ended December 2022 when compared with Rs 3,261 crore in Q3FY22. Total income grew 29.3 cent YoY to Rs 15,247 crore from Rs 11,792 crore. READ MORE

1:34 PM

Earnings Alert: Bajaj Electricals Q3 net jumps 23%; stock up 1%

Bajaj Electricals posted a 23.1 per cent growth in Q3 net profit at Rs 63.48 crore in the quarter ended December 2022 as against Rs 51.56 crore in the corresponding quarter a year ago. Total income was up 12.8 per cent YoY at Rs 1,502.53 crore.