Sensex gyrates 744 pts, ends 361 pts down; Nifty below 17K; HUL, ITC shine

CLOSING BELL: For better part of the day, equity markets roiled in global rout as fears of a contagion banking sector failure soured sentiment

4:17 PM

COMMENT:: Markets fall amid fear of contagion of the financial crisis

"The fear of contagion of the financial crisis has kept investors away from the equity markets as the global market faces numerous hurdles. Despite Swiss regulators' intervention to protect the global financial system, investor sentiment remained shaky. The market is now awaiting the outcome of the Fed meeting to see how they will respond to the ongoing crisis, particularly in terms of rate hikes. Investors expect the central bank to raise interest rates by 0–25 basis points."

 

- Vinod Nair, Head of Research at Geojit Financial Services
 

4:16 PM

Bank Nifty:: Index remains in 'Buy' mode as long as it holds 39,000

"The BANK NIFTY bulls managed to hold the support of 39,000 and formed a hammer pattern on the daily chart. The index remains in buy mode as long as it holds the support of 39,000 on a closing basis. The immediate upside hurdle is visible at the 39,700 - 39,800 zone and a break above this will lead to further short covering on the upside."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities

 

4:15 PM

COMMENT:: Nifty may trade in the 16,900 - 17,200 range

"The Nifty Index held its support at 16,800 and swiftly bounced back today. Today's rebound suggests that traders will definitely make an attempt for Nifty to cross its 17,000 resistance in the next one or two days as the Put side OI has not reduced at the 17,000 level for the March expiry. Also a very important point, Nifty has not yet closed below its Weekly trend channel and is constantly forming candles with long bottom wicks suggesting exhaustion in selling and a technical pullback possibility. The highest Call writers for this week's expiry is at the 17,200 level and the highest Put writers are seen at the 16,900 mark, which should be the range for tomorrow as well."

 

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

 

4:07 PM

Reliance, Wipro, Jubilant FoodWorks, Crompton Greaves hit 52-week lows

Max Financial, Mphasis, Emami, HDFC AMC, Pfizer, Network18, Godrej Agrovet, Laurus Labs and Motilal Oswal Financial were among 34 stocks from the S&P BSE 500 index hit their respective 52-week lows. READ MORE

4:06 PM

Adani Green rises in a weak market; stock zooms 94% in 13 days

On March 2, 2023, GQG Partners, a leading US based Global Equity investment boutique, purchased 55.6 million equity shares of AGEL for Rs 2,806 crore at price of Rs 504.60 per share. READ MORE

4:04 PM

Sunflag Iron up 15% in two days on acquiring 11.89% stake in Lloyds Metals

LMEL on March 16, converted and allotted the 0% 60 million OFCD's in to 60 million equity shares, representing 11.89% in the total voting equity share capital of LMEL to Sunflag Iron. READ MORE

4:02 PM

Shipping Corporation gains 2%; fixes March 31 as record date for demerger

The Government of India is in the process of strategic disinvestment of its equity stake in SCI together with transfer of management control. READ MORE

4:00 PM

Cochin Shipyard gains 3.5% on winning Rs 550 cr overseas order

The company has received an order of Rs 550 crore from Norway-based global logistics solution provider Samskip Group. READ MORE

3:59 PM

Tata Consumer slips 2% on withdrawal of plans to buy Bisleri

The company said no definitive agreement or binding commitment has been signed on this matter. READ MORE

3:56 PM

Market Breadth was fairly negative; 2,472 stocks declined v/s 1,151 advanced

3:54 PM

BSE Smallcap Heatmap:: Aarti Drugs zooms 20%; Hi-Tech tumbles 10%

3:52 PM

BSE Midcap Heatmap:: Gillette, Rajesh Exports shine; HAL, Adani Power whine

3:50 PM

Nifty FMCG index gains 0.8%; HUL leads pullback

3:48 PM

Nifty IT index sheds 1.4%; MphasiS, CoForge drop over 3%

3:46 PM

Nifty Metal index slumps 2.4%; Nalco plunges 4%

3:44 PM

Broader markets dip up to 1%; India VIX rises over 8%

3:41 PM

Nifty 50 Losers:: Bajaj twins, Adani Enterprises, metals majors slide

3:39 PM

Nifty 50 Gainers:: HUL, BPCL gain over 2%

3:37 PM

Sensex 30 Heatmap:: 5 Gainers v/s 25 Losers

3:35 PM

CLOSING BELL:: NSE Nifty50 shed 112 points, settles at 16,988

3:33 PM

CLOSING BELL:: S&P BSE Sensex ends 361 points lower at 57,629

3:26 PM

Global Check:: US, UK stock futures recover smartly from the lows

Source: Investing.com

3:20 PM

BREAKING :: Russia, China discuss proposals to halt Ukraine conflict

3:17 PM

6 central banks to boost flow of US dollar through global financial system

Central banks have moved globally to keep credit flowing after an unsettled period in the US banking sector and the Credit Suisse merger. READ MORE

3:08 PM

Adani Green trades firm in weak market; stock zooms 94% in 13 days

On March 2, 2023, GQG Partners, a leading US based Global Equity investment boutique, purchased 55.6 million equity shares of AGEL for Rs 2,806 crore at price of Rs 504.60 per share. READ MORE

2:58 PM

The one big winner and many losers of UBS's Credit Suisse rescue deal

After a weekend of frantic talks to forge a solution before markets opened in Asia, the firm struck a deal to buy its smaller rival for about $3.3 billion in an share deal. READ MORE

2:47 PM

M&M buys out VC firm Omnivore's stake to acquire agri-tech firm MITRA

Deal size not disclosed, will make MITRA a wholly-owned subsidiary of M&M; is in sync with Mahindra's plan to grow revenues from farm machinery 10 fold in next five years. READ MORE

2:37 PM

BSE 500:: Balrampur Chini, India Cements, Lodha among top losers

Balrampur Chini down 7 per cent was the top loser among the BSE 500 stocks. India Cements, Macrotech Developers (Lodha), IRB Infra and Hindustan Aeronautics down 5 - 7 per cent each were the other major losers so far on Monday.

2:25 PM

What does Gopinathan’s exit mean for TCS?

Rajesh Gopinathan’s decision to step down as CEO of TCS has surprised analysts. With the board naming company veteran K Kritivasan as his successor, what does Gopinathan’s exit mean for TCS? VIDEO

2:14 PM

Sensex crashes over 900 points: Top 5 factors behind Monday's market rout

Analysts attribute fallout in domestic equities due to investors' fear of a domino effect after the collapse of big financial institutions in the US, and Europe. READ MORE