Sensex rises 140 pts, Nifty holds 17,100 ahead of US Fed outcome; PSBs lead

CLOSING BELL: Sectorally, the Nifty Pharma index advanced 1 per cent, followed by the Nifty PSU bank added 0.8 per cent.

4:07 PM

Nifty: The index could rally sharply if 17,200 is taken out

"The Nifty index witnessed sideways momentum throughout the day but the index managed to close in green. The index remains in a buy-on-dip mode as long as the index stays above 17,000. The immediate hurdle on the upside is at 17,200 where the highest open interest is built up on the call side. The index once surpassed the resistance will witness a sharp move on the upside toward the 17,500 level."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities

 

4:05 PM

COMMENT:: An an in-line and less hawkish policy stance by Fed will attract bulls

"Staying afloat in a volatile trade, the domestic market managed to remain positive, with the optimism that global banking system issue is behind us. Additionally, the volatility brought in from western markets ahead of the announcement of Fed policy and release of high UK inflation, tested market sentiments. The market has factored a 25 bps rate hike by Fed, and an in-line and less hawkish policy stance will attract bulls."

 

- Vinod Nair, Head of Research at Geojit Financial Services
 

4:00 PM

Bank Nifty:: Breakout above 40,000 could induce a rally up to 41,000

"The Bank Nifty index has remained mostly sideways as the investors preferred waiting until after the Federal Reserve meeting on the rates and the follow-up commentary, which is more important. On the higher end, the index has found resistance at the 14DMA during the day's trade. The momentum indicator is in bullish crossover. A decisive breakout above 40,000 may induce a rally in the index, above which the index may move up towards 40,500/41,000 over the near term. On the lower end, support lies at 39,500."

 

- Rupak De, Senior Technical Analyst at LKP Securities

 

3:57 PM

Sula Vineyards jumps 3.8% as CLSA initiates coverage with 'Buy' rating

Sula is well placed to leverage the global consumer shift towards the low-alcohol beverage segment - beer and wine, the brokerage report stated. READ MORE

3:55 PM

Sobha tumbles 12.8%, hits 52-week low on raid by Income-Tax department

Sobha announced that a search by the Income Tax Department is being carried out at the registered office and other premises of the company. READ MORE

3:54 PM

Anupam Rasayan hits 6-month high; zooms 40% in 5 weeks on strong outlook

Analysts are positive on the company's long term growth trajectory on the back of a robust product launch pipeline especially in high value fluorination chemistry. READ MORE

3:52 PM

Hindustan Zinc gains 2.4% on declaring liberal interim dividend

Hindustan Zinc has fixed March 29, 2023 as the record date for the purpose of payment of fourth interim dividend worth Rs 26 per share. READ MORE

3:50 PM

Emami surges 6% as board to consider share buyback on March 24

Meanwhile, in the past three months, the stock has shed 16 per cent, as against 4 per cent decline in the S&P BSE Sensex. READ MORE

 

3:48 PM

VST Tillers soars 7.5% on achieving production milestone of 500,000 units at Malur plant

Currently, overall power tiller industry in India is around 60,000 units and it is expected to grow to 100,000 units by the year 2025, VST Tillers said. READ MORE

3:46 PM

Market Breadth was positive; however more stocks hit 52-week lows in trades on Wednesday

3:44 PM

BSE Smallcap Heatmap:: Nahar group stocks among winners

3:42 PM

BSE Midcap Heatmap:: Emami, Voda Idea, Alkem surge up to 6%; ABB drops 3%

3:40 PM

Select broader indices outperform benchmark Nifty 50; India VIX declines 1.8%

3:39 PM

Nifty 50 Losers:: BPCL, NTPC, Coal India slip up to 2%

3:37 PM

Nifty 50 Gainers:: HDFC Life, Bajaj twins, Sun Pharma rise up to 3%

3:36 PM

Sensex 30 Heatmap:: 21 Gainers v/s 9 Losers

3:34 PM

CLOSING BELL:: NSE Nifty50 adds 44 points to 17,152

3:33 PM

CLOSING BELL:: S&P BSE Sensex ends 140 points higher at 58,215

3:18 PM

Global Check:: US, UK stock futures mixed ahead of Fed decision

Source: Investing.com

3:05 PM

Silicon Valley Bank's loans to insiders tripled to $219 mn before it failed

The surge in loans to high-up figures may draw scrutiny as the Federal Reserve and Congress investigate the breakdown of Silicon Valley Bank, the biggest US bank collapse in more than a decade. READ MORE

2:53 PM

UK inflation jumps to 10.4% for the first time, surprising analysts

Britain's inflation rate rose for the first time in four months in February, surprising an analysts and increasing pressure on the Bank of England to raise interest rates at its meeting on Thursday. READ MORE

2:41 PM

Anupam Rasayan hits 6-month high; zooms 40% in 5 weeks on strong outlook

Analysts are positive on the company's long term growth trajectory on the back of a robust product launch pipeline especially in high value fluorination chemistry. READ MORE

2:29 PM

BSE 500:: Sobha, Saregama India, ABB among top losers

Sobha down 15.6 per cent was the top loser among the BSE 500 stocks. Saregama India, Medplus Heath, ABB and Sapphire Foods down 2 - 4 per cent each were the other prominent losers so far on Wednesday.

2:16 PM

News Alert:: NBCC wins order worth Rs 478.41 cr; stock up 0.7%

NBCC (India) and its subsidairy have won orders worth Rs 478.41 crore for various works.

2:05 PM

BoB-backed IndiaFirst Life Insurance gets regulator approval for IPO

IndiaFirst Life Insurance, which is backed by Bank of Baroda, has got the market regulator’s approval for its initial public offering (IPO), paving the way for the fourth life insurer to be listed on the bourses. READ MORE

1:54 PM

Gautam Adani lost Rs 3,000 crore a week in 2022-23: M3M Hurun report

The combined market-capitalisation (market-cap) of all listed Adani group firms has plunged nearly Rs 7.11 trillion since January 24 when the Hindenburg report was made public. READ MORE

1:42 PM

Global Check:: Hang Seng, Nikkei rally up to 2% in Asia trade

Source: Yahoo Finance

1:31 PM

ADP merger likely to give wings to GMR Airports Infrastructure stock

The GMR Group and its joint venture (JV) partner -- the French Groupe Aeroports de Paris (ADP) -- will merge their unlisted company, GMR Airports (GAL) into the listed GMR Airports Infrastructure (GIL), alongside an infusion of €331 million (Rs 2,900 crore) via the foreign currency convertible bond (FCCB) route by ADP. While the merger is subject to regulatory clearance and shareholder approval, it could take place in the early part of the 2024 calendar year. READ MORE

1:22 PM

Sobha slips 5%, nears 52-week low on raid by Income-Tax department

Sobha announced that a search by the Income Tax Department is being carried out at the registered office and other premises of the company. READ MORE

1:09 PM

BSE 500:: Uflex, Emami, Paytm among top gainers

Uflex up 7 per cent was the top gainer among the BSE 500 stocks so far on Wednesday. It was followed by Emami, Trident, Paytm and Vodafone Idea, up 5 - 6 per cent each.