Sensex plunges 695 pts, Nifty below 18,100 as HDFC twins sink up to 6%

CLOSING BELL: HDFC and HDFC Bank accounted for a loss of 645 points on the BSE benchmark. Broader indices ended with relatively lesser losses of around 0.5 per cent each.

3:52 PM

Tech View :: Where is the next support placed on Nifty Bank after HDFC Bank-led sell off?

The Bank Nifty bears took over the control and the index fell by more than 2% breaking the support of the 43,000-42,800 zone. The index if sustained below 43000 will witness further correction towards the 42,500-42,300 zone where the next demand area is visible. The upside resistance of 43,000 if taken out decisively will lead to further short covering toward 43,300 levels.

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

3:50 PM

Comment :: Why did Sensex shed 700 pts today?

The Indian market was dragged down by heavy selling in HDFC twins on fears of post-merger fund outflow. In addition, the cues from global peers were lacklustre as the ECB raised rates by 25bps and signalled the need for further rate hikes. Wall Street has witnessed prolonged selling pressure due to apprehensions in the banking sector about the strength of regional banks.

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

3:46 PM

BSE Stats :: Over 2,000 stocks decline on the BSE vs 1,500 advances

3:45 PM

Buzzing stocks :: RVNL jumps 10% in fag-end on heavy volume

3:44 PM

Buzzing stocks :: Manappuram Finance extends slide even as it clarifies on ED raids

3:43 PM

Buzzing stock :: Federal Bank crashes 8% as NII, NIM weaken in Q4

3:42 PM

Buzzing stocks :: TVS Motor Company rallies 4% post healthy Q4 results

3:40 PM

Buzzing stocks :: HDFC Bank plummets nearly 6% as MSCI reduces adjustment weight

MSCI has decided to use an adjustment factor of 0.5-times while computing the weightage of the merged entity, against expectations of an adjustment factor of 1-times. 

This could lead to an outflow by foreign portfolio investors (FPIs) worth $150-200 million as against the Street's expectation of an inflow worth $3 billion.

3:38 PM

Broader markets drop, but outshine benchmarks

3:36 PM

Sectoral trends :: Nifty Bank, Financial Services indices decline 2%

3:34 PM

Sensex Heatmap :: HDFC Bank, HDFC tank up to 6%, IndusInd, Tata Steel other top laggards

3:33 PM

CLOSING BELL :: Nifty ends below 18,100

3:32 PM

CLOSING BELL :: Sensex sinks nearly 700 pts as HDFC twins bleed

3:24 PM

Sebi prescribes additional disclosures for issuing transition bonds

The markets regulator has asked companies to identify interim targets like the number of emissions the issuer is planning to reduce, project implementation strategy, technology for implementation, and the mechanism to oversee the utilisation of the funds raised through transition bonds. READ MORE

3:09 PM

ALERT :: Sensex hits day's low

 

3:02 PM

Earnings Alert:: KFin Technologies Q4 net rises 32%; stock slumps 5%

KFin Technologies reported a 31.8 per cent growth in Q4FY23 net profit at Rs 195.74 crore; backed by a 12.6 per cent YoY to Rs 720.03 crore in revenue from operations.

2:53 PM

Earnings Alert:: Sutlej Textiles reports loss in Q4; stock tumbles over 8%

Sutlej Textiles today reported a net loss of Rs 24 crore for the quarter ended March 2023 as against a net profit of Rs 52 crore in the corresponding quarter a year ago. Total income declined by 16.5 per cent to Rs 752 crore from Rs 901 crore.

2:41 PM

Sebi to tell brokers, mutual funds to limit use of financial influencers

Sebi will ask brokers, traders registered with it and mutual funds to stop associating with financial influencers who are seen to be giving misleading advise and inducing investors, the report said. READ MORE

2:29 PM

ALERT :: Aurionpro Payments receives in-principle approval from RBI to operate as Payment Aggregator

 

2:24 PM

Macroeconomic factors, better consumer confidence push industry optimism up

According to the Knight Frank-Naredco Real Estate Sentiment Index, released on Friday, the Future Sentiment Score jumped from 58 in the quarter that ended December 2022 to 61 in the quarter that ended March 2023. READ MORE

2:11 PM

Manappuram Finance says enforcement action against promoter, not company

Manappuram's promoter, V.P. Nandakumar, said in the notification that the probe was not related to the company but a private entity called Manappuram Agro Farms, which is no longer in existence. READ MORE

1:57 PM

Stable macro data, earnings trigger FPI buying in shares in April: NSDL

The benchmark Nifty 50 jumped 4.06% in April, its best month since November, aided by the stable earnings as well the return of the FPIs into domestic equities. READ MORE

1:45 PM

Earnings Alert:: Symphony Q4 net flat at Rs 43 cr; stock tumbles 7%

Symphony standalone net profit remained flat at Rs 43 in Q4FY23, while total income declined almost 5 per cent to Rs 250 crore in the quarter ended March 2023 as against Rs 263 crore in the year ago period.

1:33 PM

Earnings Alert:: Bharat Forge Q4 net slips 7%; stock dips over 3%

Bharat Forge standalone net profit declined 6.7 per cent to Rs 244.52 crore for the quarter ended March 2023 as against Rs 261.96 crore in the quarter ended March 2022. Total income, however, grew 17 per cent YoY to Rs 2,036.36 crore.

1:21 PM

Earnings Alert:: Federal Bank Q4 net surges 67%; stock down 5%

Federal Bank today reported a sharp 67 per cent surge in Q4 net profit at Rs 902.61 crore for the quarter ended March 2023 when compared with Rs 540.54 crore in the year ago period. Total income rose 38.1 per cent YoY to Rs 5,454.60 crore. READ MORE

1:13 PM

Asian Markets Update: Exhibit mixed trend

Source: Yahoo Finance

1:02 PM

ITC increases stake in food brand Sproutlife to 39.42% for Rs 175 cr

Earlier in January this year, ITC had said that it would acquire 100% of Sproutlife Foods Private Limited, makers of Yoga Bar healthy foods. READ MORE

12:56 PM

Record gold prices to dampen India's demand in June, Sept quarters: WGC

Indian gold demand in the March quarter fell 17% to the lowest level in 10 quarters and is likely to remain subdued even during June and September quarters on record-high prices, the World Gold Council (WGC) said on Friday. READ MORE

12:45 PM

Accenture India chief Rekha Menon to retire; Ajay Vij appointed new MD

Sandeep Dutta to lead professional services company's India Market Unit. READ MORE

12:35 PM

CEAT rallies over 5% in weak market on 5-fold jump in Q4 net

The tyre-maker reported 420.7 per cent surge in Q4 net profit to Rs 132.42 crore for the quarter ended March 2023 as against Rs 25.43 crore in the year ago period. READ MORE