Sensex ends 326 pts lower ahead of GDP data; RIL, Tata Steel slip 2%

CLOSING BELL: The Sensex and Nifty extended their losing streak into the eighth straight day on Tuesday; BSE benchmark has now shed 2,358 points, and NSE index 732 points in this period.

4:07 PM

F&O analysis :: 'Put writers are confident of a market rebound'

The Nifty index, today, closed at its 9th straight day of loss, down from its recent high at 18,134. There was active call writing seen at 17,400, 17,500 and 17,600 of this week's expiry. Although traders are expecting this week's expiry of Nifty to be below the 17,500 level, the monthly expiry option sellers are expecting the March expiry to be above the 17,500.

The 17,500 PE of the monthly expiry continues to see high OI indicating that put writers are confident of a market rebound.
 

A prudent choice to play the index would be to take a bullish position once markets sustains above the 17,500 mark. This would also confirm a bullish pattern on the momentum indicators and can drive the index further up. Until that happens one should not initiate any bullish positions.

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

4:05 PM

Tech View :: 'Any pullback will unlikely result in trend reversal'

The Nifty opened on a flat note and witnessed continued selling pressure throughout the day to close the day on a negative note for the eight consecutive trading session. The daily lower Bollinger band is expanding and prices are trading along the lower band indicates that the fall is likely to continue.

On the hourly charts, the 20 hour moving average (17383) is acting as a stiff resistance and any bounce towards it is being sold into. The Nifty has closed below the 200 Day moving average (17384) which is also signaling weakness.

The hourly momentum indicator has a positive divergence along with a positive crossover which indicates that a bounce is possible The pullback if any is likely to be just a relief rally and unlikely to result in to trend reversal. Overall, the downtrend is still intact and any bounce should be used as an opportunity to create fresh short positions. On the downside we expect the Nifty to target levels of 17200 from short term perspective.

Views by: Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas

 

4:02 PM

Comment :: What's hurting Indian equity markets?

Global investors' interest in the equity market is weakening due to the slowdown in the economy, led by high inflation and contractionary monetary policy. Inflows are being diverted to safe assets, and corporate earnings growth is dropping, affecting the performance of the stock market and demanding downgrade in valuation. The double whammy for India is that it is expensive compared to other EMs, resulting in underperformance among the global market.

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

4:00 PM

BSE Snapshot :: Advance-Decline ratio in 1:1

3:58 PM

Market Check :: Top losers on the BSE today

3:57 PM

Market Check :: Top gainers on the BSE today

3:56 PM

Uflex snaps 1-week losing streak as I-T dept concludes raid

3:54 PM

Telecom stocks soar as India aims to see complete 5G rollout by December 2024

3:51 PM

HPL Electric zooms 6% on smart meter order worth Rs 409.10 crore

3:48 PM

ZEE rallies nearly 7% as NSE decides to re-include the stock in F&O segment

Shares of Zee Entertainment Enterprises (ZEEL) surged to Rs 198 on the National Stock Exchange (NSE) in Tuesday’s intra-day trade after the exchange on Monday announced that it would include the stock back into the futures and options (F&O) segment.

3:46 PM

Indiabulls Real Estate falls over 5% post MD's resignation

Shares of Indiabulls Real Estate slipped 7 per cent to Rs 56.70 in Tuesday's intra-day trade on the BSE after the company announced resignation of Mehul Johnson as a Managing Director (MD) & Key Managerial Personnel of the company with effect from February 27.

3:44 PM

Vedanta ends off lows as Co brushes off debt repayment concerns

>> As per the company's spokesperson, the company is in a comfortable position to meet debt maturing in April and in the first quarter of the next financial year, and that there is no question of a default.

3:41 PM

Buzzing stock :: Adani Group stocks reverse trend, Adani Enterprises surges over 14%

3:38 PM

Broader market check :: Mid, SmallCap indices shine against dip in benchmarks

3:36 PM

Sectoral trends :: Nifty Media index rallies over 2%, IT, Metal fall

3:35 PM

Sensex Heatmap :: 20 of 30 index stocks end in red, RIL, Tata Steel drop 2%

3:33 PM

CLOSING BELL :: Nifty50 slides89 pts ahead of GDP data, holds 17,300

3:32 PM

CLOSING BELL :: Sensex falls 300 pts, down for 8th straight session

3:25 PM

Cipla falls 4%, nears 52-week low on concerns of product launch delay in US

In the past seven trading days, the stock has dipped 11% after the United States Food and Drug Administration issued Form 483 with 8 observations for the company's Pithampur manufacturing facilities READ MORE

3:16 PM

Banks request RBI to include more long-term bonds in H1 FY24 borrowing

In recent meetings with senior officials of the Reserve Bank of India (RBI), banks are said to have suggested that more longer-tenure government bonds be issued, and a 20-year bond be introduced, in the Centre’s market borrowing calendar for April-September 2023. READ MORE

3:06 PM

Global Check:: US, UK stock futures mildly in red

Source: Investing.com

2:57 PM

Triveni Turbine soars 10% to hit new high on healthy revenue growth outook

The management has guided around 20 per cent revenue growth in the next 2-3 years with profit before tax of around 20-21 per cent given the robust order book and enquiry pipeline. READ MORE

2:47 PM

SBI raises $1 billion via syndicated social loan for further lending

The funds will be used to further lend to microfinance institutions and self-help groups, a senior official at SBI, who declined to be named, told Reuters. READ MORE

2:41 PM

Softening cotton prices turning tides in favor of textile players: Analysts

Analysts assert that unstable political scenarios in Sri Lanka and Pakistan, and wage issues in Bangladesh will shift export demand from these economies to home-textile or garment players in India. READ MORE

2:31 PM

News Alert:: NTPC's North Karanpura Power Station first unit to go commercial on March 01

The company informed BSE, that its first unit of 660 MW capacity of North Karanpura Super Thermal Power Station (3x660 MW) was declared on Commercial Operation w.e.f. 00:00 Hrs. of March 01, 2023. 

 

With this, the standalone and group commercial capacity of NTPC will become 58,979 MW and 71,594 MW, respectively, the release added.

2:22 PM

$19 bn derivative bond trade in India at risk from Modi's new tax

Analysts say a New Delhi plan to tax high-value insurance policies will reduce demand, leading the industry to cut back on bond investments. For the past two years, banks have boosted the amount of debt bought for interest-rate swaps offered to insurers. READ MORE

2:11 PM

BSE 500:: Vedanta, Paytm, Indiabulls Real Estate among top losers

Vedanta down over 6 per cent was the top loser among the BSE 500 stocks. Paytm, Adani Transmission, Adani Total Gas and Indiabulls Real Estate, down 5 - 6 per cent each were the other major losers so far on Tuesday.

2:01 PM

No refinancing, capital plans at Hong Kong roadshow, says Adani Group CFO

Adani Group isn’t seeking to refinance debt or inject capital, its finance chief said on the sidelines of an investor roadshow aimed at rebuilding confidence in the crisis-ridden Indian conglomerate. READ MORE

1:51 PM

Select Adani group shares rally; Adani Enterprises jumps 29% from day's low

Since January 24, the market value of 5 Adani group companies - Adani Total Gas, Adani Green Energy, Adani Transmission, Adani Power and Adani Enterprises - has declined between 52% and 83%. READ MORE

1:41 PM

Global Check:: Most Asian markets log steady gains

Source: Yahoo Finance