Sensex gains 124 pts, Nifty tops 17,750; IndusInd Bank up 5%, Adani Port 3%

CLOSING BELL: Bottom fishing in select heavyweights lifted benchmark indices off lows, leading to a positive close for a third consecutive day on Wednesday

4:24 PM

COMMENT:: Uncertainty returns as Fed chief signals higher rate hike

"The global market has fallen back into the grip of uncertainty as the Fed chief signalled the possibility of a prolonged and faster rate hike, contradicting a dovish comment made by another Fed official last week. The market now anticipates a 50 bps rate hike, which has pushed the dollar index to a three-month high. However, a strong recovery was seen in the domestic market towards the end of the day, which kept the bulls on the move."

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

4:18 PM

COMMENT:: Bias positive for Nifty, Bank Nifty

“The Nifty Index going into tomorrow's expiry is seen having the highest open interest at the put side of the 17,600 level and the highest open interest on the call side is seen at the 17,800 strike. Traders have created short straddles at 17,700 level for tomorrow's expiry, which is giving a credit of only Rs 85-90 at today's close. This might not be the best way to play the Nifty Index for tomorrow as in the last half-an-hour, the market has already moved the index substantially and even a small gap-up tomorrow can cause trouble to these short positions. A better way to play tomorrow's expiry would be to enter the ITM call side straddle with a bought Put leg, as the bias is slightly towards the upside. This position will also help in the case of a downtick, as the bought put leg would be there to protect any loss. The Bank Nifty Index, which was looking strong through the day, has its next OI resistance only at 42,000 for tomorrow’s expiry, indicating room for the upside.””

 

- Rahul Ghose, Founder & CEO – Hedged, an algorithm-powered advisory platform

4:12 PM

Adani shares rally up to 5% after Group repays Rs 7,374 cr share-backed loan

So far in the last two months, the Adani Group have prepaid share-backed financing up to $2,016 million as part of the promoters' commitment to cut overall leverage. READ MORE

4:10 PM

JSL, JSHL hit new highs ahead of merger; zoom over 100% in six months

Jindal Stainless (Hissar) has fixed Thursday, March 9, 2023, as the record date for its merger with Jindal Stainless with a swap ratio of 1: 1.95. READ MORE

4:05 PM

Sugar shares in focus; Shree Renuka, Dwarikesh, Balrampur soar up to 7%

India has a cushion to export an additional 1 million tonnes of the sweetener if the domestic output reaches an estimated 33.6 million tonnes this year. READ MORE

4:02 PM

HAL, L&T gain up to 3% as government inks contracts worth Rs 9,900 crore

Hindustan Aeronautics received an order for 70 HTT-40 trainer aircraft worth over Rs 6,800 crore, while L&T bagged a contract worth Rs 3,100 crore for supply of three cadet training ships. READ MORE

4:00 PM

Kirloskar Oil Engines hits 20% upper circuit; records huge block deal

As many as 25.62 million equity shares, representing 17.7 per cent of total equity, worth Rs 825 crore of the company changed hands on the NSE, the exchange data shows. READ MORE

3:57 PM

Vardhman Special Steel soars 8% on starting production for Toyoto Group firm

The company said sales of these products for FY2023- 24 will be 10,000 MT approx and further increase with receipt of more approvals in next 2-3 years. READ MORE

3:53 PM

Market Breadth was marginally positive; 207 stocks hit upper limits

3:51 PM

Nifty Auto index also up 0.9%; Bosch gains 3%

3:50 PM

Nifty Oil & Gas index jumps 0.9%; Adani Total Gas up 5%

3:48 PM

BSE Smallcap Heatmap:: Kirloskar Oil, Patel Engineering soar up to 20%

3:46 PM

BSE Midcap Heatmap:: Hindustan Aeronautics, Ajantha Pharma, Adani Power gain 5%

3:44 PM

Broader indices outperform, gain up to 0.7%

3:40 PM

Nifty 50 Losers:: Bajaj Finance, Hindalco, Tech Mahindra dip up to 2%

3:39 PM

Nifty 50 Gainers:: IndusInd Bank soars 5%; Adani Enterprises, Adani Ports 3%

3:37 PM

Sensex 30 Heatmap:: 17 Gainers v/s 13 Losers

3:35 PM

CLOSING BELL:: NSE Nifty50 settles at 17,754, up 43 points

3:33 PM

CLOSING BELL:: S&P BSE Sensex ends 124 points higher at 60,348; Gains over 500 points from the day's low

3:27 PM

SBI raises Rs 3,717 cr via AT-1 bonds at 8.25% with 10-yr call option

State Bank of India, the country’s largest lender raised funds worth Rs 3,717 crore at a coupon rate of 8.25 per cent through additional tier-1 (AT-1) bonds on Wednesday, sources told Business Standard. READ MORE

3:21 PM

India imposes money laundering provisions on cryptocurrency sector

The Finance Ministry said in a notice on Tuesday that anti-money laundering legislation has been applied to crypto trading, safekeeping and related financial services. READ MORE

3:10 PM

Global Check:: US, UK stocks futures flat

Source: Investing.com

2:54 PM

IDBI Bank proclaims Kapil & Dheeraj as wilful defaulters of Rs 758 cr loans

After dilly-dallying for over two years, the IDBI Bank Ltd. has finally declared the DHFL promoters and siblings -- Kapil Wadhawan and Dheeraj Wadhawan -- as 'wilful defaulters'. READ MORE

2:43 PM

JSL, JSHL hit new highs ahead of merger; zoom over 100% in six months

Jindal Stainless (Hissar) has fixed Thursday, March 9, 2023, as the record date for its merger with Jindal Stainless with a swap ratio of 1: 1.95. READ MORE

2:30 PM

After weak Q3 show, concerns seem to be built into Indus Towers stock price

Telecom infrastructure player Indus Towers has been largely ignored by investors with occasional bursts of trading when there’s news flow. For example, the stock fell from Rs 188 (Jan 1, 2023) to Rs 135 (Jan 27) and then bounced back to Rs 165 in early February as the Government of India (GoI) converted Vodafone Idea’s (Vi) debt into equity and Bharti Airtel pushed up its direct stake in Indus to 47.95 per cent. READ MORE

2:18 PM

Dealmakers in India should expect another strong year for M&As: JPMorgan

It's unlikely for the country to repeat such a high mark this year, there will be decent deal flow to keep the bankers busy, said Nitin Maheshwari, JPMorgan's head of M&A for India. READ MORE

2:07 PM

BSE 500:: Aptus Value Housing, Lodha, PolicyBazaar among top losers

Aptus Value Housing down over 6 per cent was the top loser among the BSE 500 stocks. , Macrotech Developers (Lodha), Swan Energy, PB Fintech (PolicyBazaar) and APL Apollo Tubes down 4 - 5 per cent each were the other major losers so far on Wednesday.

1:55 PM

Shyam Metalics eyes $1 bn in revenue after Mittal Corp acquisition

Shyam Metalics and Energy eyes revenues of $1 billion from the stainless steel business after it acquired Mittal Corp through the corporate insolvency resolution process (CIRP). READ MORE

1:43 PM

GQG Partners likely to increase investment in Adani, says Rajiv Jain

GQG Partners' founder Rajiv Jain said on Wednesday the fund manager would likely expand its $1.9 billion investment in the Adani group. READ MORE

1:30 PM

Global Check:: Nikkei bucks weak trend in Asian stocks

Source: Yahoo Finance