Sensex dips 124 pts, smallcaps shine; Paytm cracks 9%, Tata Motors up 2%

CLOSING BELL: HCL Tech (down 2.7 per cent), Tata Steel, Reliance Industries, Wipro, ITC, ICICI Bank, Infosys, and HUL were top Sensex losers

4:16 PM

Indian stock markets to continue underperforming EM peers: Morgan Stanley

Earlier in November 2022, Morgan Stanley had reiterated its stance on the Indian markets and said that the bull-run remained intact. Back then, they expected the Sensex to hit 80,000 levels by Dec '23. READ MORE

4:12 PM

COMMENT:: Fears of further policy tightening, Adani Group news flow weigh on sentiment

"Domestic indices lost ground following the global rout as investors speculated over the prospects of further policy tightening. Worries of a looming recession escalated as the President of Richmond Fed added to the hawkish comments by the Fed speakers. The announcement by MSCI to reduce the weighting of four Adani Group companies further hurt sentiments at home."

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

4:11 PM

Bank Nifty:: Short-covering likely above 41,800-level

"The BANK NIFTY index on the daily chart continued to consolidate between the 41,200-41,800 zone. The undertone remains bullish as long as the index holds the support of 41,200 and one should keep a buy-on-dip approach. The index if it breaks 41,800 on the upside will witness a sharp short covering on the upside towards the 43,000 level."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities
 

4:08 PM

HCL Tech slips 3% after MSCI reduces weightage

Shares of HCL Technologies slipped around 3 per cent to Rs 1,114 on Friday as the weightage of the information technology (IT) firm was reduced by 0.2 basis points in the MSCI index. The changes come into effect on March 1, 2023. READ MORE

4:04 PM

Paytm slips 9% after nearly 5% equity changes hands in block deal

Shares of digital financial services firm One97 Communications, which owns Paytm, slipped 9 per cent to Rs 640 on the National Stock Exchange (NSE) after around 32.25 million equity shares, representing nearly 5 per cent of total equity, changed hands on the counter. READ MORE

4:02 PM

Zomato dips 7% intra-day as Q3 loss widens to Rs 347 crore

Shares of restaurant aggregator Zomato dipped 7 per cent to Rs 50.35 after the company's losses widened to Rs 346.6 crore for the quarter that ended in December (Q3FY23). Global brokerage Jefferies believes outlook seems positive as break-even target stays, as early as Q4FY23 - another positive in the context of Zomato Gold. READ MORE 

3:59 PM

CG Power hits new high, zooms over 100% in 9 months

Shares of CG Power and Industrial Solutions continued at their upward movement, hitting a new high of Rs 327, as they rallied 5 per cent on Friday. The rally comes after MSCI decided to include the Murugappa Group company in its India index. The changes will take place at the close of February 28, 2023. READ MORE

3:56 PM

HG Infra hits 52-week high, rallies 13% in two days post Q3 results

Shares of HG Infra Engineering hit a 52-week high of Rs 743 backed by heavy volumes. In the past two trading days, the stock has surged 13 per cent after the civil construction company reported a good set of numbers for the quarter ended December 2022 (Q3FY23). It surpassed its previous high of Rs 720, touched on January 20, 2022. READ MORE

3:53 PM

Market Breadth was positive; 1,866 stocks advanced v/s 1,589 declined

3:51 PM

Nifty Realty index gains 1.4%; Godrej Properties, Indiabulls Realestate up 3%

3:49 PM

Nifty Metal index sheds 1.8%; Adani Ent, Jindal Steel, JSL top losers

3:46 PM

BSE Smallcap Heatmap:: BF Investment zooms 20%; WPIL, Bajaj Tele, Muthoot Finance rally up to 15%

3:43 PM

BSE Midcap Heatmap:: Aurobindo Pharma, CG Power surge up to 6%

3:42 PM

Broader markets outperfrom; Smallcap index up around 0.5%

3:40 PM

Nifty 50 Losers:: Adani Enterprises slips 4%; HCL Tech, Hindalco down over 2%

3:38 PM

Nifty 50 Gainers:: Tata Motors jumps 2%; UPL, Cipla shine

3:36 PM

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

3:35 PM

CLOSING BELL:: Nifty 50 settles at 17,857, down 37 points

3:33 PM

CLOSING BELL:: S&P BSE Sensex ends 124 points lower at 60,683

3:25 PM

Global Check:: US, UK stock futures down up to 1%

Source: Investing.com

3:19 PM

Sebi probing Adani's links with investors in aborted $2.5 bn FPO

The watchdog is investigating relationships between Adani and at least two Mauritius-based firms -- Great International Tusker Fund and Ayushmat Ltd. -- which participated as anchor investors, among others, said the sources, who spoke on the condition of anonymity due to the confidential nature of the probe. READ MORE

3:17 PM

ALERT :: MSCI on Adani Group stocks

3:12 PM

Sun Pharma gets US health regulator nod to market generic medication

The company has received final approval from the US Food and Drug Administration (USFDA) for the generic lenalidomide capsules in multiple strengths, Sun Pharma said in a statement. READ MORE

3:05 PM

A slow turn in EV sales as investor funding, state subsidies continue

Electric vehicle (EV) sales in the country have declined for two months in a row as the government increases subsidies. EV’s share in total vehicles sold slipped from 6.3 per cent in December 2022 to 5.5 per cent in January 2023. The slowdown comes after rapid growth compared to the period before Covid-19. READ

2:58 PM

How have the home loan EMIs changed since RBI's repo rate hike in May 2022?

On Wednesday, the Reserve Bank of India (RBI) increased the repo rate by 25 basis points, taking it to 6.5 per cent. Since May 2022, the repo rate has been hiked by 250 basis points. One basis point stands for 0.01 per cent. READ

2:51 PM

ALERT :: Tata Motors rises 2% on report that it has hiked price of Tiago EV variant by Rs 20,000

2:46 PM

MSCI cuts HCL Tech's weightage; stock trades as top loser on Sensex, Nifty

Shares of HCL Technologies slipped 3.3 per cent to Rs 1,108.55 on the BSE in Friday's intra-day trade on profit booking as the weightage of the information technology (IT) firm has been reduced by 0.2 basis points in the MSCI index. The changes come into effect on March 1, 2023. READ

2:39 PM

ALERT :: Russia plans to cut March oil output by 5 lakh bpd, reports Bloomberg

2:28 PM

Earnings Alert: RateGain Tech Q3 net jumps to Rs 13.23 cr; stock soars 5%

RateGain Travel Technologies reported a net profit of Rs 13.23 crore for the third quarter ended December 2022 as against Rs 85 lakh in the corresponding quarter a year ago. Total income surged 37.9 per cent YoY to Rs 138.85 crore from Rs 100.70 crore.

2:18 PM

BSE 500:: Paytm, Adani Group, Fine Organic among top losers

Paytm down over 8 per cent was the top loser among the BSE 500 stocks. Fine Organic, Adani Total Gas, Adani Transmission and Adani Green down 5 each were the other major losers so far on Friday.