Sensex slides 632pts to 60,115, Nifty below 18K; Airtel, SBI slip up to 2%

CLOSING BELL: Broader markets, too, bled simultaneously in trade as Nifty MidCap 100 and Nifty SmallCap 100 indices fell up to 0.5 per cent

4:14 PM

VIEW: Investors should remain cognizant of prevailing macroeconomic risks

Investors dumped equities on worries of slowing down of global economies.

Technically Nifty has formed a bearish candle in the daily chart. As Nifty remains below 18000, weakness may be seen towards 17800-17700 zones.

As Bank Nifty suggested more weakness, heavyweight banks showed no resilience to free fall so a closing below 41800 levels would stretch towards 41000.

Overall the market breadth was on the negative side. We advise investors to remain cognizant of prevailing risks related to the macroeconomic environment. Many of the quality stocks have corrected meaningfully in the last couple of weeks and could give healthy returns in the short term.

Views by Om Mehra, Equity Research Analyst, Choice Broking.

4:09 PM

Zydus Life surges 3% on receiving US FDA nod for Febuxostat tablets

Febuxostat Tablet is used to lower high uric acid in the blood.

4:08 PM

Max Financial soars 4%; Axis Bank to buy remaining 7% stake in Max Life at fair market value

Axis Bank has entered into a revised agreement with Max Financial wherein the valuation for right to acquire remaining 7% stake in Max Life would be at fair market value.

4:04 PM

Sona BLW Precision zooms 6%; to buy 54% stake in Novelic

The company said it has signed an agreement to acquire 54 per cent equity stake in Serbian firm NOVELIC.

3:59 PM

Tata Motors ends 6% higher on CLSA's rating upgrade

Global brokerage CLSA has upgraded Tata Motors' stock to 'Buy' on the back of its belief that recovery in Jaguar Land Rover’s sales volume, along with improvement in margin profile, will aid the company’s free cash flow in financial year 2023-24 (FY24). 

3:57 PM

Lupin closes off highs; gets US FDA nod for prasugrel tablets

Prasugrel is used to prevent strokes, heart attacks.

3:54 PM

Rupee ends at 81.79/$ against Monday’s close of 82.36/$

3:50 PM

PSBs, Financials top sectoral losers; Pharma, Auto defy weak trend

3:47 PM

MIDCAP HEATMAP: Sona BLW Precision led gains; IDBI Bank top laggard

3:45 PM

Broader markets outperform; Mid and smallcaps end with slimmer cuts

3:43 PM

Adani Enterprises, Adani Ports tumble 3-6% on Nifty

3:40 PM

Apollo Hospitals, Hindalco, Divi's Labs additional gainers on Nifty

3:38 PM

HEATMAP: 9 of 30 Sensex stocks defy weakness; Airtel, SBI, HDFC Bk top drags

3:34 PM

CLOSING BELL: Nifty ends near 17900; 33 of 50 stocks close in red

3:33 PM

CLOSING BELL: Sensex tanks 632 points dragged by select heavyweights

3:29 PM

MSTC to auction 132 coal blocks; suggests bidders to read all notifications

This will be the sixth tranche of auction under which a total of 141 blocks, including 132 coal and nine lignite mines will be put on the block. Read here

3:21 PM

Govt expects utilities' annual coal demand to surge 8% to 821 mn tonnes

State-run Coal India, which accounts for 80% of India's coal production, is seen supplying 620 million tonnes to the power sector in 2023-24, compared with a projected 580 million tonnes in 2022-23. Read here

3:12 PM

European markets open lower

3:00 PM

Global Check:: US stock futures marginally in red ahead of Powell speech tonight

Source: Investing.com

2:48 PM

BSE 500:: Zydus Wellness, Page Inds, Sona BLW among volume shockers

Zydus Wellness witnessed unusally high volume of around 25,900 shares so far on the BSE as against its five-day average volume of around 1,200-odd shares. Similarly, Page Indsutries, Sona BLW, Tata Motors-DVR and Hitachi Energy were among the other BSE 500 volume toppers on Wednesday.
 

2:37 PM

NEWS ALERT: Hi-Tech Pipes to consider stock split

The company's board is scheduled to meet on January 28 to consider a proposal for stock split.
 

2:27 PM

NEWS ALERT:: Zydus Life gets USFDA nod for Febuxostat Tablets; stock up 2%

Zydus Lifesciences has received final approval from the USFDA to market Febuxostat Tablets, 40 mg and 80 mg. As per a release issued by the company to the BSE, Febuxostat tablets had annual sales of $32 million in the US according to IQVIA data dated Sepember 2022.
 

2:18 PM

Private-equity firm Carlyle Group buys majority stake in India's VLCC

Private-equity firm Carlyle Group said on Tuesday it acquired a majority stake in Indian beauty care and wellness solutions provider VLCC.  VLCC founders Vandana Luthra and Mukesh Luthra will continue to hold a significant stake in the company, Carlyle said, without sharing further details. READ MORE
 

2:11 PM

SBI's Rs 10,000-crore infrastructure bond sale likely this week

State Bank of India (SBI) may carry out a planned Rs 10,000 crore sale of infrastructure bonds in the market this week, with the securities likely to be of 15-year maturity, sources told Business Standard. READ MORE
 

2:01 PM

BSE 500:: Adani Enterprises, UCO Bank, BoM among top losers

Adani Enterprises down 7 per cent was the top loser among the BSE 500 stocks. UCO Bank, Bank of Maharashtra, General Insurance Corporation of India and Punjab & Sind Bank, down around 5 each were the other major losers so far on Wednesday.
 

1:52 PM

Adani Group shares under pressure; Adani Ent falls 5%, Adani Ports down 3%

Some of the biggest Adani group backers from the Gulf are likely to be among the largest buyers of the Adani Enterprises' FPO, which is expected to be launched later this month. READ MORE
 

1:42 PM

Global Check:: Asian markets exhibit mixed trend on Tuesday

Source: Yahoo Finance

1:35 PM

Retail inflation likely remained steady at 5.9% in December, finds poll

The Jan. 4-9 poll of 45 economists put consumer price inflation at 5.90% in December from a year earlier, little changed from an eleven-month low of 5.88% in November. READ MORE
 

1:26 PM

BSE 500:: Sona BLW, Tata Motors, Tanla Platforms among top gainers

Sona BLW Precision Wires up over 7 per cent was the top gainer among the BSE 500 stocks so far on Tuesday. It was followed by Tata Motors, Tanla Platforms, Tata Motors-DVR and Vardhman Textile, up 3 - 6 per cent each.
 

1:24 PM

ALERT :: China suspends Visa issuance to Japanese travellers, reports Bloomberg