Sensex snaps 3-day winning run, falls 542 pts; Nifty gives up 17,600

CLOSING BELL: M&M (down 3 per cent), RIL (down over 2 per cent), Bajaj Finserv, ICICI Bank, Maruti Suzuki, Tata Motors, Tech M, Bajaj Finance, TCS, ITC, Titan, and SBI were the top Sensex laggards

4:12 PM

COMMENT:: US jobs data likely to guide Fed decision making

"The domestic market could hardly hold on to its previous gains as the Fed chair’s reaffirmation of his hawkish statement brought in more worries. In this backdrop, the upcoming US job data will have a substantial impact on the Fed’s policy decisions in its upcoming FOMC meeting. A stronger-than-expected jobs report will prompt the Fed to raise interest rates by 50 bps."

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

4:11 PM

COMMENT:: Nifty OI shifts to 17,700 Put for next week

“The recent rally in Nifty in the last couple of days saw the highest OI on the Put side. The shift from the 17,000 PE level to the 17,500 PE level indicate that traders were confident of 17,500 being the floor for the index for March. The ferocity of today's Market fall has caused this open interest to shift back to the same level of 17,000 PE. Currently, traders are going into next week's expiry with short call positions of 17,700, which has also the highest OI for next week's expiry. The Nifty index is still in a broad sideways range with 17,250 being the bottom-end of the range and the 18,040 level being the upper-end of the range. Until these levels get taken out, we expect to see up and down moves in this 800 point range.”

 

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

 

4:06 PM

Jindal Saw hits over 5-year high; zooms 94% in three months on healthy outlook

The company said that the future of the global steel pipe market looks promising with opportunities in oil and gas, water and wastewater, power generation, automotive, and other industrial sectors. READ MORE

4:04 PM

Aptus Value down 13% in two days as it denies merger talks with Cholamandalam

On Monday, the stock price of Aptus had zoomed 19 per cent on report that Cholamandalam Investment and Finance was looking to buy controlling stake in the company. READ MORE

4:02 PM

Olectra Greentech zooms 19%; stock up 68% in 10 trading days

In the past three trading days, Olectra Greentech has rallied 24% after EVEY received two Letter of Awards from the Telangana State Road Transport Corporation for 550 Electric Buses. READ MORE

4:01 PM

Gokaldas Exports dips 3% after 13% equity changes hands via block deal

In early deals, roughly 8.15 million equity shares, representing 13.5 per cent of the total equity of Gokaldas Exports, had changed hands on the NSE. READ MORE

3:58 PM

SeQuent Scientific soars 19% on terminating pact to acquire Tineta Pharma

In November 2022, SeQuent had announced the acquisition of Tineta Pharma for Rs 218 crore but the said transaction has not materialised. READ MORE

3:56 PM

Market Breadth was marginally negative; 155 stocks hit lower circuit

3:54 PM

BSE Smallcap Heatmap:: Deep Inds, Olectra, Sequent zoom up to 20%

3:52 PM

BSE Midcap Heatmap:: Adani Power, Max Health gain; Balkrishna Inds slips

3:47 PM

Broader indices slip in tandem with benchmark Nifty 50; India VIX rises 2%

3:45 PM

Nifty 50 Losers:: Adani Enterprises drops 5%; M&M, SBI Life, RIL declined over 2%

3:42 PM

Nifty 50 Gainers:: Tata Steel, Larsen & Toubro were few of the notable movers

3:39 PM

Sensex 30 Heatmap:: 7 Gainers v/s 23 Losers

3:37 PM

CLOSING BELL:: NSE Nifty50 sheds 165 points, settles at 17,590

3:35 PM

CLOSING BELL:: S&P BSE Sensex snaps 3-day winning streak; ends 542 points lower at 59,806

3:23 PM

Global Check:: US, UK stock futures down up to 0.7%

Source: Investing.com

3:13 PM

TCS on the verge of closing deals worth $1 billion with Marks & Spencer

In addition to this, TCS is also working towards renewing their existing five-year engagement with the UK-headquartered company. READ MORE

3:06 PM

How to approach IT stocks amid tighter monetary policy, recession fears?

According to Jefferies, analysts' consensus revenue growth estimates for CY24 have been lowered for top clients of all IT firms, barring Wipro, with the highest cuts for HCL Tech and Tech Mahindra. READ MORE

2:55 PM

Q3 GDP numbers: Taking a look at some high-frequency indicators

The govt contends that Q3 GDP will be revised upwards. Many experts believe rural economic growth is still slow. Data shows both could be right. READ MORE

2:46 PM

BSE 500:: Home First Finance, Aptus Value, Adani Enterprises among top losers

Home First Finance down 8 per cent was the top loser among the BSE 500 stocks. Aptus Value Housing, Adani Enterprises, Tata Teleservices and Shree Renuka Sugar down 4 - 6 per cent each were the other major losers so far on Thursday.

2:35 PM

Aptus Value down 13% in 2 days as it denies merger talks with Cholamandalam

On Monday, the stock price of Aptus had zoomed 19 per cent on report that Cholamandalam Investment and Finance was looking to buy controlling stake in the company. READ MORE

2:26 PM

Treasury yield curve inverts: What it means and what does it signal?

Yield curve inversion suggests that the market is becoming more pessimistic about the economic prospects for the near future. READ MORE

2:17 PM

Global Check:: Nikkei gains in sluggish Asian trade

Source: Yahoo Finance

2:08 PM

Difference between investment rate in nominal and real terms widening

The difference between the real and nominal GFCF rates was five percentage points. The difference stood at over 5% in the previous two quarters of the current financial year. READ MORE

1:57 PM

Sebi puts restrictions on cos opting share buyback via stock exchange route

Capital markets regulator Sebi on Wednesday imposed restrictions on the placement of bids, price and volume for the companies undertaking share buyback through the stock exchange route. READ MORE

1:46 PM

Stock of this electric bus manufacture has zoomed 68% in 10 trading days

In the past three trading days, Olectra Greentech has rallied 24% after EVEY received two Letter of Awards from the Telangana State Road Transport Corporation for 550 Electric Buses. READ MORE

1:35 PM

RBI possibly buying dollars in spot, paying forwards via PSBs: Traders

The Reserve Bank of India (RBI) was possibly buying dollars in spot and paying in forwards via public sector banks on Thursday to mop up foreign currency inflows, three traders told Reuters. READ MORE

1:23 PM

News Alert:: HFCL collaborates with Microsoft to roll out Private 5G solutions

The company informed BSE, that it has entered into Partner Network Agreement with Microsoft to create converged private 5G solutions that harness new-age

technologies of IoT, Cloud, Edge Computing, AI and Analytics to transform industry verticals that include manufacturing, retail & warehouse, mining, education, defence, railways, smart city, etc.

1:12 PM

BSE 500:: Shilpa Medicare, Privi Speciality, Adani Group among top gainers

Shilpa Medicare up 12 per cent was the top gainer among the BSE 500 stocks so far on Thursday. It was followed by Privi Speciality, Adani Green, Adani Total Gas and Adani Transmission, up 5 per cent each.