Sensex sinks 769 pts, Nifty below 16,250; Titan, Maruti fall 5%, IT stks up

CLOSING BELL: Sectorally, only the Nifty IT index eked out gain on the NSE, rising 0.14 per cent

4:19 PM

Nifty technical watch: Possible for index to fall below 16,000 in short term

<< Nifty slipped lower after a few days of consolidation on the daily timeframe; which will heighten the possibility of falling below the 16,000 mark over the short term.

<< Immediate support is seen at 16,100-16,000 bands. On the higher end resistance is seen at 16,500.

Views by Rupak De, Senior Technical Analyst at LKP Securities.



 

4:15 PM

Post market view: Rising oil prices spark fears of inflation crossing RBI’s tolerance level

<< Global bourses are witnessing a sharp sell-off as reports of Russian attack on Europe’s biggest nuclear plant in Ukraine kept tension levels elevated.

<< Rising oil prices along with uncertainties on supply change disruption have instilled fears that inflation could cross RBI’s tolerance level, though temporarily.

<< The domestic market, however, trimmed its losses as buying was witnessed in IT and Pharma stocks. 

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

Illustration: Binay Sinha

4:12 PM

MapmyIndia owner surges 4% on completing acquisition of Gtropy Systems

C.E. Infosystems Ltd. (MapmyIndia) informed investors and exchanges that the company has completed the acquisition of a 75 .98% stake of Gtropy Systems for Rs 13.5 crore.

 

4:07 PM

Carlyle reportedly plans to buy 10% in Yes Bank for $500-600 million; stock falls 1%

As per a report by The Economic Times, private equity group Carlyle is considering a Rs 3,750–4,500 crore ($500-600 million) investment in Yes Bank along with peer Advent International for a 10 per cent stake. 

 

4:04 PM

Govt to hold asset monetization meet on March 8; MTNL rallies 10%

 

4:02 PM

Pondy Oxides surges 6% on partnering with US-based co to set up battery recycling unit

The company said it has partnered with Ace Green Recycling Inc., a Delaware Corporation in the US, and signed a $12 million equipment supply and licensing deal spanning 10 years to set up a greenhouse gas (GHG) emission-free battery recycling facility in Chittoor, Andhra Pradesh, India. 

 

3:58 PM

GAIL board to meet on Mar 11 to recommend second interim dividend, stock slips 2%

 

3:55 PM

Aviation sector veteran Sanjiv Kapoor appointed CEO of Jet Airways; stock rises 5%

The Kalrock Jalan consortium announced the appointment of aviation sector veteran Sanjiv Kapoor as the company's chief executive officer. Kapoor will take charge on April 4. 

 

3:52 PM

Asian Paints, Titan, 3 Auto majors top five Nifty50 losers

 

3:49 PM

IPO index sheds 2%; Ami Organics, Star Health top losers, slip up to 6%

 

3:47 PM

BSE advance-decline ratio 1:1.7 as market breadth stays negative

 

3:43 PM

Chip shortage woes tank Auto index 4%; Metals, Realty, Durables also drag, IT firm

Niftyconsumer durables index closed 3.1 per cent down. 

 

3:40 PM

Broader markets worst hit: BSE MidCap index slides 2%

 

3:38 PM

Sensex Heatmap : IT majors, ITC, Dr Reddy's shine; Titan, M&M, Maruti slip up to 5%

 

3:35 PM

Closing Bell : Nifty 50 benchmark sheds 1.5%, closes below 16,250

 

3:33 PM

Closing Bell : Markets extend losses for third day; Sensex ends 769 pts down

 

3:29 PM

NSE seeks applications for new chief amid suspected governance lapses

Leading stock exchange NSE, which is facing allegations of governance lapses, has started the hunt for a new managing director and chief executive officer as the five-year tenure of incumbent chief Vikram Limaye is ending in July. Read more

 

3:29 PM

US Futures :: All three main indices down in pre-market trade

3:16 PM

RIL, HDFC among top contributors towards Sensex's fall

2:58 PM

Shakti Pumps hits 52-week low; plunges 20% in 1-month on growth concerns

Shares of Shakti Pumps (India) (SPIL) hit a 52-week low at Rs 473.50, down 4 per cent on the BSE in Friday’s intra-day trade amid growth concerns due to rising raw material costs. Read more

Illustration: Binay Sinha

2:45 PM

NTPC Alert: 74.88 MW Fatehgarh solar PV project to commence ops from Saturday

<< Consequent upon successful commissioning, third part capacity of 74.88 MW out of 296 MW Fatehgarh Solar PV Project at Jaisalmer, Rajasthan, is declared w.e.f. 00:00 Hrs. of 05.03.2022.

<< With this, commercial capacity of NTPC and NTPC group will become 54452.18 MW and 67907.18 MW respectively. Read here

2:35 PM

Oil prices seen easing off marginally; Brent Crude tests $110

source: oilprice.com

2:22 PM

Russia-Ukraine crisis to push up fertiliser prices, govt subsidies

At present, Belarus and Russia are key suppliers of Potash in the global market. On the other hand, India is a major importer of Potash, which is used in the manufacture of fertilisers. READ MORE
 

2:08 PM

Global markets :: European markets pull back as Russia attacks Ukraine power plant

European markets retreated on Friday as Russia’s invasion of Ukraine escalates, with Russian forces attacking Europe’s largest nuclear power plan.

1:57 PM

BREAKING NEWS

1:46 PM

India increasing ethanol storage, targets 20% blended gasoline by 2025

India is the world's third biggest oil importer and relies on foreign suppliers to meet more than 80% of its demand.

 

Prime Minister Narendra Modi has pledged to achieve net-zero carbon emission by 2070, and is encouraging industries to switch to cleaner options including renewable and biofuels to cut carbon footprint. READ MORE
 

1:36 PM

Vadilal Industries extends fall; slips 10% in 3 days after 58% rally in Feb

Shares of Vadilal Industries slipped 10 per cent to Rs 1,190 in Friday's intra-day trade on the BSE, falling 13 per cent in the past three trading days, after over 50 per cent surge in the month of February. READ MORE

1:29 PM

Morgan Stanley :: Why are Indian Stocks Not Hurting More?

>> Despite a supply shock in oil, rates, currency and stocks appear to be relatively calm. Here's why:

Policy certainty: India's policy environment is among the strongest in the world driving India's idiosyncratic growth story and, more importantly, likely creating a new profit cycle. The rise in oil price is a threat but not strong enough in the context of the policy environment.

 

Declining oil intensity in GDP: Oil consumption relative to GDP is at all-time lows and is steadily declining especially since 2014.

 

High relative real policy rates: Monetary policy looks much better placed to handle the inflationary impact from an oil price rise especially when compared to history.

 

Rising share of FDI to FPI in external balances: Since 2014, external funding has shifted dramatically to FDI which is more stable and less sensitive to oil price fluctuations.

 

Domestic bid: The rising domestic bid on stocks since 2014 also means that FPI selling is now offset, unlike the past.

 

Calm in INR and rates: The above factors probably explain why the rate and currency markets have been relatively stable compared to previous oil shocks. Thus, stocks have also reacted less violently. 

 

1:18 PM

BSE 500: Top gainers

Ujjivan Small Finance Bank, Kalyan Jewellers, HEG, Rajesh Exports and Deepak Fertilisers lead gainers list on the BSE 500.

 

1:16 PM

Russia-Ukraine crisis: Sensex P/E multiple hits 21-month low of 24.2 times

The sell-off in the Indian markets in recent weeks has sparked a sharp decline in equity valuations on Dalal Street. The trailing price-to-earnings (P/E) multiple of the benchmark BSE Sensex hit a 21-month low of 24.2 times (x) on Thursday as the index witnessed another bout of selling. READ MORE