Banks, RIL drag Sensex 311 pts down, Nifty below 17,850; Adani Ent falls 6%

CLOSING BELL: Maruti Suzuki, Kotak Bank, SBI, HDFC, Axis Bank, Titan, Bajaj Finance, HDFC Bank, ICICI Bank, Nestle India, and RIL were the top Sensex laggards, falling in the range of 1 - 1.4 per cent

4:12 PM

Bank Nifty:: Adopt 'sell on rise' approach as long as index remains below 41,500

"The BANK NIFTY bears continued to attack at the higher levels and the index witnessed selling pressure throughout the day. The trend remains negative and one should keep a sell-on-rise approach as long the index stays below the level of 41,500 where the highest open interest is built up on the call side. The next support is visible at 40,000 where some amount of put writing is visible."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities

 

4:06 PM

COMMENT:: Stocks weaken ahead of US Fed minutes; near-term trend cautious

"Stocks are getting beaten ahead of the release of Fed minutes on Wednesday. Maintaining its guard against inflation, the Fed is expected to remain hawkish. As expected, it is unlikely to have a dire effect on the global stock market. However, the consequence of constant high interest rates is causing a slowdown in demand & the earnings outlook, hence the near-term trend will be cautious."

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

4:03 PM

Are the markets ignoring the possibility of higher inflation?

Globally, too, sticky inflation seems to be a cause for concern. Last week, two Federal Reserve (US Fed) officials suggested that the US central bank may need to keep interest rates elevated ahead. READ MORE 

4:01 PM

Sonata Software surges 26% in one month; stock nears record high

The new CEO has reiterated that he is planning to double IT services revenue in four years as he is looking to accelerate the growth from hereon. READ MORE

4:00 PM

NMDC's demerged Chhattisgarh unit hits 5% upper circuit on market listing

Under the Scheme of Arrangement, NMDC Iron & Steel Plant at Nagarnar, Chhattisgarh demerged from NMDC into NMDC Steel. The former had issued one equity share of Rs 10 each of NMDC Iron & Steel Limited for every one equity share of face value of Rs 10 each to shareholders of NMDC. READ MORE

3:58 PM

Cera Sanitaryware soars 8%, hits new high in weak market on healthy outlook

In past one month, the stock price of Cera has surged 20 per cent. The company reported healthy Q3 earnings. READ MORE

3:56 PM

Samvardhana Motherson gains 3% on acquisition of SAS Autosystemtechnik

ICICI Securities said the implied valuation of the acquisition is pegged at 5.2x EV/EBITDA, which, the brokerage firm believe, is inexpensive. READ MORE

3:55 PM

Cipla sheds 6% after Pithampur unit receives 8 USFDA observations

The company said it will work closely with the USFDA and is committed to address these comprehensively within stipulated time. READ MORE

3:53 PM

Lumax Auto soars 11% on acquiring majority stake in IAC Group's India biz

IAC India is a well-established Tier-1 interior systems and components supplier to key automotive OEMs in India including Mahindra, Maruti Suzuki, Volkswagen and Volvo Eicher Commercial Vehicles. READ MORE

3:51 PM

BSE Smallcap Heatmap:: Sumitomo Chem zooms 11%; Data Patterns dips 6%

3:49 PM

BSE Midcap Heatmap:: Adani Power, Delhivery shine; Rajesh Exports whines

3:47 PM

Market Breadth fairly negative; nearly 2,200 stocks declined on the BSE

3:46 PM

Bank Nifty slips over 1%; AU Bank, IDFC First top losers

3:45 PM

Nifty Midcap indexes outperform; VIX jumps 2.3%

3:42 PM

Nifty 50 Losers:: Adani Enterprises, Cipla tank over 6%

3:41 PM

Nifty 50 Gainers:: Divi's Lab, UltraTech Cement, Tech Mahindra shine in a weak market

3:39 PM

Sensex 30 Heatmap:: 12 Gainers v/s 18 Losers

3:37 PM

CLOSING BELL:: NSE Nifty 50 finishes near day's low, down 100 points

3:35 PM

CLOSING BELL:: S&P BSE Sensex ends 311 points lower at 60,692; sheds almost 600 pts from day's high

3:30 PM

ALERT :: US President Joe Biden makes a surprise visit to Kyiv

>> Air raid sirens heard

3:20 PM

Moderation in India's trade deficit could be transitory: Acuite Ratings

The moderation in India's trade deficit in January could be transitory in nature and factors like bottoming of the commodity prices, global inflation, suspension of container port in Turkey could give pressure on the trade deficit, said credit rating agency Acuite Ratings and Research. READ MORE

3:12 PM

Global Check:: US, UK stock futures in red, down around 0.5%

The US markets will be shut for trading today on account of President's Day holiday.

Source: Investing.com

3:01 PM

Oil explorers under pressure; Aban, Hindustan Oil slip 2%

2:51 PM

NSE to include Adani Wilmar, Adani Power in few indices from March 31

Adani Wilmar will be part of Nifty Next 50 and Nifty 100 indices, while Adani Power will be included in Nifty 500,  Nifty 200, Nifty Midcap 100, Nifty Midcap 150, Nifty LargeMidcap 250. READ MORE

2:41 PM

Sector Check:: BSE Bankex down over 1%

2:32 PM

Market Check: Sensex extends fall, down nearly 400 points

2:26 PM

Vedanta's plan to trim debt hits roadblock as govt opposes Hind Zinc deal

The government has threatened to take legal action to stop Agarwal's Vedanta Group from selling the unit to its subsidiary Hindustan Zinc Ltd., which is around 30% state-owned. READ MORE

2:15 PM

Mutual funds' collection through NFO drops 38% to Rs 62,000 crore in 2022

Mutual funds' collection through new fund offerings (NFOs) remained subdued in 2022, with asset management companies (AMCs) garnering over Rs 62,000 crore through new schemes, which was 38 per cent less compared to 2021. READ MORE

2:07 PM

BSE 500:: Shilpa Medicare, Cipla, Adani Group among top losers

Shilpa Medicare down over 6.5 per cent was the top loser among the BSE 500 stocks. Cipla, Adani Enterprises, Adani Total Gas and Adani Transmission, down 5 - 6 per cent each were the other major losers so far on Monday.

1:56 PM

Tata Motors to supply 25,000 XPREST electric vehicle units to Uber

Tata Motors on Monday said it will supply 25,000 XPREST electric vehicle units to Uber in one of the largest deals in the green mobility space till date.

 

As per a memorandum of understanding inked between the two entities, Uber will utilise the electric sedans in its premium category service, the companies said in a joint statement. READ MORE