Sensex, Nifty end flat amid tepid trading session; Adani group stocks slide

CLOSING BELL: The S&P BSE Sensex ended 40 points lower, while the Nifty50 was down 34 points. Shares of Adani Group tumbled up to 7 per cent, with Adani Enterprises leading the fall.

4:24 PM

Tech View :: 'Fight between bears and bulls continued in the Bank Nifty index'

The fight between bears and bulls continued in the Bank Nifty index ahead of the monthly expiry. The index is stuck in a broad range between 39,000-40,000 where a significant amount of call and put writing is visible on the monthly expiry. The index, once out of this range, will witness a directional move.

Views by: Kunal Shah, Senior Technical & Derivatives Analyst at LKP Securities.

4:13 PM

Comment :: 'The recent sell-off in the broader indices may deteriorate further'

We expect volatility to remain high due to the scheduled expiry of March month derivatives contracts. On the index front, participants have been trying to defend 16,900 in Nifty for the last three sessions and its breakdown may trigger a sharp reaction on the downside. Needless to say, the recent sell-off in the broader indices may deteriorate further. We thus reiterate our view to limit trade and maintain positions on both sides. 

Views by: Ajit Mishra, VP - Technical Research, Religare Broking

4:03 PM

Comment :: 'Risk appetite for mid=, small-caps falling'

Indian markets continued to stay in the grip of bears as investors remained cautious in expectation of further tightening from the RBI. While global market sentiment has been improving as the fears of broader contagion from the banking turmoil fade. Back home, nifty small and midcap stocks continued to underperform due to fall in investors risk appetite and FY23 tax harvesting.

Views by:  Vinod Nair, Head of Research at Geojit Financial Services.

 

3:56 PM

Comment :: '16,910 – 16,970 is make or break zone for Nifty'

Nifty witnessed yet another day of rangebound price action. It consolidated between 16,900 – 17,100 for the third consecutive day. On the hourly chart, Nifty is trading in between 16,910 – 16,970 where the 61.82% and 78.6% Fibonacci retracement levels of the previous rise from 16,828 – 17,207 are placed. We believe that it is a make or break zone and if at all the pullback rally has to resume it is likely to be from hereon. The daily and the hourly momentum indicators have a positive crossover which is a buy signal. Thus, both price and momentum indicator suggest positive price action over the next few trading sessions. On the upside initial targets are placed at 1,7200 and above that it can extend higher to 17,450 – 17,500. The crucial support zone is placed at 16,910 – 16,870.

Views by: Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.

3:53 PM

Rupee Close :: Rupee ends at 82.19/$ against Monday’s close of 82.37/$

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3:49 PM

Kalyan Jewellers sinks 10% amid block deal

3:46 PM

IndusInd Bank ends as top Senesx gainer after BofA Securities sees 50% upside in stock

3:45 PM

Bandhan Bank crashes to 3-year low on heavy volumes

3:44 PM

Adani Group stocks tumble amid repayment concerns; Adani Ent slides 7%

3:41 PM

Broader indices underperform large-cap peers; SmallCap index down 0.7%

3:39 PM

Sectoral trends :: Financials hold gain in a weak market

3:38 PM

Sensex Heatmap :: Only 11 stocks settle in green, IndusInd Bank, Power Grid lead

3:35 PM

CLOSING BELL :: Nifty holds 16,950

3:32 PM

CLOSING BELL :: Sensex ends flat after listless trade

3:22 PM

Adani shares tumble on report group seeking time to pay ACC, Ambuja debt

Shares of Adani Group companies tumbled on Tuesday after a report said the conglomerate was seeking to renegotiate terms of outstanding loans worth $4 billion taken last year to buy cement firms ACC and Ambuja Cements. The group's flagship firm, Adani Enterprises, slid nearly 8% to a near four-week low, while Adani Ports tumbled 9.2%. READ MORE

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3:12 PM

News Alert:: Avanti Feeds board okays acquisition of 50% stake in SPPPL

Avanti Feeds informed BSE, that the company's board approved acquisition of 16.70 million equity shares, representing 50 per cent of the share capital of Srivathsa Power Projects Private Limited (SPPPL) at a price of Rs 2.30 per share.

 

Post this acquistion, the SPPPL would become 100 per cent subsidairy of the Avanti Feeds, the release added.

3:00 PM

Global Check:: US, UK stock futures tepid ahead of key data

Source: Investing.com

2:49 PM

Adani share sale takes block deals to 5-month high despite skittish market

Promoters, strategic investors mop up over Rs 33,000 cr via share sales; Adani sale in four group firms to GQG Partners alone tops Rs 15,000 cr. READ MORE

2:33 PM

Market Check:: Nifty Next 50 dips nearly 1%; Bandhan Bank cracks 5%

2:19 PM

News Alert:: Hellenic Bank selects LTIMindtree as a Strategic Sourcing Partner

LTIMindtree said it has been selected as the strategic sourcing partner by Hellenic Bank, a leading financial institution in Cyprus. This engagement will enable Hellenic Bank to meet their resource capacity demands in an efficient and timely manner.

2:08 PM

RBI likely to hike rates by 25 basis points next week, says economist

RBI has raised the policy rate by 250 bps since May 2022 to 6.5%, making it the most aggressive policy tightening cycle in a decade. READ MORE

1:52 PM

ALERT :: Govt allocates 39,600 MW of solar manufacturing capacity under PLI

1:42 PM

Toll operators in India to see a revenue jump of 16-18% in FY23: CRISIL

Backed by high inflation and healthy traffic growth, the revenue of toll road operators in India is expected to jump a significant 16-18 per cent in 2022-23 (FY23), shows data revealed by rating agency CRISIL on Tuesday. READ MORE

1:11 PM

Global Check:: Asian markets exhibit mixed trend

Source: Yahoo Finance

12:53 PM

ABB India automates first India-Bangladesh cross-border oil pipeline; stock gains marginally

12:45 PM

GR Infraprojects emerged L-1 bidder for 2 NHAI projects; profit-booking seen

12:36 PM

Adani Group shares slump up to 9%; 6 of 10 stocks locked in lower circuit

The slide in the stocks resumed after a report by The Ken claimed that the Adani group has not completely repaid its loans taken against the promoters' shares. READ MORE

12:23 PM

Inverse H&S in pharma index could revive a positive bias for short-term

Pharma shares like Aurobindo Pharma, Zydus Lifesciences, Sun Pharmaceutical Industries Ltd, Glenmark Pharmaceuticals may rise up to 14 per cent. READ MORE

12:08 PM

Vedanta dividend: Decision on fifth payout today; check all details here

Vedanta dividend 2023: The company has already given four interim dividends totalling Rs 81 so far in the current financial year. READ MORE

11:45 AM

Shares of financial services buck trend in a weak market