The Nifty PSU bank index ended as the top laggard on the NSE, down 4.7 per cent, after surging nearly 6 per cent each over the past two days

markets

<div>
	<strong>Stock market updates:</strong>&nbsp;Extending their decline into fourth straight day, benchmark indices ended the week with over 1 per cent cut on the back of lossess in Eicher Motors (7 per cent), Nestle India (5.3 per cent), Divis Labs (5.4 per cent), and Cipla (5 per cent).&nbsp;</div>
<br />
<div>
	On Friday, though, the frontline S&P BSE Sensex nursed losses of 435 points, or 0.85 per cent, to end the day at 50,890 levels. In the intra-day trade, the index tanked 800 points from the day&#39;s high to hit a low of 50,624. Only 11 of the 30 constituents ended the day in green with ONGC (down 5 per cent), SBI and Axis Bank (down 3.5 per cent each), ICICI Bank (3 per cent), Baja Auto (2.6 per cent), and Maruti Suzuki (2 per cent) being the top losers.</div>
<br />
<div>
	Gains in Dr Reddy&#39;s Labs (2.3 per cent), IndusInd Bank (2 per cent), HUL (1.7 per cent), and RIL (0.7 per cent) trimmed losses.</div>
<br />
<div>
	On the NSE, the Nifty50 index gave up the 15,000-mark and settled at 14,982 levels, down 137 points or 0.9 per cent. It hit an intra-day low of 14,898.</div>
<br />
<div>
	The broader markets, too, gave up their winning ways today and ended in the red. The S&P BSE MidCap index underperformed on the BSE and ended1.7 per cent down today. The SmallCap counterpart, meanwhile, settled 0.7 per cent lower.</div>
<br />
<div>
	Sectorally, none of the indices ended in the green zone today. The Nifty PSU bank index ended as the top laggard on the NSE, down 4.7 per cent, after surging nearly 6 per cent each over the past two days. That apart, Nifty Metal, Bank, and Auto indices skid 2 per cent each.&nbsp; &nbsp;&nbsp;</div>
<br />
<div>
	<strong>Global markets</strong></div>
<div>
	Shares struggled to avoid a fourth straight day of losses on Friday as data showed euro zone business activity slowing in February, while German and British 10-year bond yields touched multi-month highs, driven up by bets on rising inflation.</div>
<br />
<div>
	The pan European index was up 0.1 per cent, while London&#39;s FTSE index was 0.1 per cent weaker.</div>
<br />
<div>
	In Asia, MSCI world equity benchmark was up 0.1 per cent, MSCI&#39;s broadest index of Asia Pacific shares outside of Japan was down 0.1 per cent, while E-mini futures for the S&P 500 were broadly flat.</div>
<br />
<div>
	<em><strong>(With inputs from Reuters)</strong></em></div>

Sensex gives up 51K amid broad-based sell-off, dips 435 pts; PSBs, auto hit

Business Standard

Tata Group-owned Air India, which has embarked on an ambitious transformation plan, expects the first A350-900 aircraft to arrive in India by the end of this year


JKC also said it is expecting the airline to be up and running next year with the launch date likely to be announced in the next few days


India's star Weightlifter Mirabai Chanu will be in action at 12:30 PM IST. Bopanna's mixed doubles match will begin at 10:30 am IST

India shooters Palak and Esha Singh won Gold and Silver in 10m air pistol women's individual event. India's medal count swells to 33 with 8 Gold, 12 Silver and 13 Bronze


Due to the protest, several trains on the Ambala-Shri Ganganagar route were cancelled on Thursday


The South Asian country wants to obtain another 400 of these guns, which would make the equipment about a sixth of all artillery pieces in the Indian armory


IHC said that it continually strives to enhance shareholder value and additional information about the transaction will be included in its quarterly financial disclosure

The global sugar market has been jittery for weeks on concerns that poor rains will crimp output and prompt India to restrict shipments to contain local prices ahead of an election next year


Russia-Ukraine War

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

In February 2022, Russia attacked Ukraine&amp;#39;s capital, Kyiv, from the north in an attempt to overthrow President Volodymyr Zelensky&amp;#39;s government. In the months following, artillery bombardment and street fighting continued, with Russia seizing multiple cities.

&amp;nbsp;

After a slew of scandals in his term spanning three years, UK Prime Minister Boris Johnson resigned from office in July. Johnson was succeeded by Liz Truss, who took over the office in September.
						
						But after 45 days in the office, she resigned, becoming the shortest-serving PM in UK history. Her budgetary plans, at the centre of which were tax cut plans, had crashed the markets, making her lose the confidence of almost all her own MPs.
						
						In the days that followed, Rishi Sunak took over as Britain&amp;#39;s 57th prime minister and vowed to fix the mistakes made by his predecessor, Liz Truss.

Russia Invades Ukraine

In April, protests began in the nation following a sharp rise in food and fuel costs. Thousands demanded the resignation of now-ousted President Gotabaya Rajapaksa. The people faced long power cuts daily and shortages of basics, including fuel and food. Sri Lanka&amp;#39;s doctors said they were nearly out of life-saving medicines.
						
						Rajapaksa&amp;#39;s government was being blamed for the chronic mismanagement of the country&amp;#39;s finances. In July, protestors stormed Rajapaksa&amp;#39;s home, pushing him to flee the nation before resigning from office.

UK&amp;#39;s political crisis

In September, 22-year-old Iranian girl Mahsa Amini died after being detained for allegedly violating Iran&amp;#39;s laws requiring women to wear a headscarf. Authorities said she died of illness, but her family claimed she fell into a coma after being mistreated by the police. Sources said the police beat Amini with a baton and banged her head against a vehicle. At her funeral on September 17 in Saqez, women protested by ripping off their hijabs. Protests sparked by her demise have since roped in ethnic minorities and even school children. Thousands of women since then have been showing solidarity by cutting their hair and burning their hijabs in public.
						
						Now, the unrest has spread beyond a women&amp;#39;s right to a movement that is calling for an end to theocratic rule. The protests are now the most broadly supported movement in Iran in over four decades.

Sri Lanka economic crisis

In October, Chinese President Xi Jinping was handed a historic third term in office. He became the first leader of the ruling Communist Party after party founder Mao Zedong to get a third term in power.
						
						This came as China&amp;#39;s economy was running out of steam after decades of high growth. Many expect Xi&amp;#39;s third term may see China revert to more old-school economic management, focusing on shoring up the heavy industry and continuing a crackdown on big tech.

Uprising mounts again in Iran

In a historic first, rich countries agreed to pay for losses and damages caused by climate change. For 30 years, developing nations have been calling for developed countries to compensate for the costs of climate disasters caused by climate change. And rich nations that caused the pollution resisted the demand. But this changed in 2022.

Chinese President Xi Jinping starts record third term in power

In 2022, inflation was rising worldwide, with food and energy prices hitting record highs. The hike was mainly driven by pent-up consumer demand after the pandemic and Russia&amp;#39;s invasion of Ukraine. As the pandemic waned, people wanted to return to normalcy and spend more. This led to companies demanding higher prices. Companies also hired more to serve the pent-up demand. They had to increase wages to attract workers and raise prices to compensate for that.

A landmark deal UN Climate Change Conference (COP27)

In September, Queen Elizabeth II, Britain&amp;#39;s longest-serving monarch, died at 96 after reigning for 70 years. Many said her death would mark a turning point for commonwealth nations as many may disassociate themselves.

The global economy at crossroads

In October, Brazil&amp;#39;s former president, Luiz In&amp;aacute;cio Lula da Silva beat Jair Bolsonaro in the country&amp;#39;s closest presidential race in history. Silva&amp;#39;s win marked Latin America&amp;#39;s shift to the left and pointed to an extraordinary comeback for a man in jail for corruption three years ago.

Queen Elizabeth II dies

In October, billionaire Elon Musk closed his $44 billion deal to buy Twitter after months of dilly-dallying, drama and a lawsuit. The Tesla owner&amp;#39;s Twitter takeover is also one of the biggest tech acquisitions of all time. May fear that Musk&amp;#39;s takeover may turn the social media giant into a hotbed of hate speech.
					
						&amp;nbsp;

Brazil elections

Google Messages

In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

MARKET CLOSING COMMENT :: Deepak Jasani, Head of Research, HDFC Securities

<div>
	ndian benchmark equity indices ended lower for the fourth consecutive day on February 19 with selling seen across the sectors. After making an intra day high at 1030 Hrs, Nifty kept falling through the day, barring the recovery post 1500 Hrs. At close, the Nifty was down 137.20 points or 0.91% at 14,981.80. For the week, the Nifty closed down 1.2%.</div>
<div>
	&nbsp;</div>
<div>
	Nifty has corrected for four straight days after a sharp consistent rise seen over the past few weeks. The oscillators/indicators have now eased out of overbought region. A move above 15030-15060 early next week could take the Nifty 15240 over the next few days. On falls, 14753-14900 could act as a good support in the near term.</div>

MARKET CLOSING COMMENT :: Vinod Nair, Head of Research at Geojit Financial Services

<div>
	Consolidation continued as increasing volatility &amp; weak global cues influenced investors to stand on the sidelines, leading the market to close below 15k level. PSU banks and mid-cap stocks which outperformed the market during the week attracted selling pressure today. Sentiments across the globe were also wounded by increasing bond yield, higher commodity price and the disappointing US data</div>

MARKET CLOSING COMMENT :: Rusmik Oza, Executive Vice President, Head of Fundamental Research, Kotak Securities

<div>
	The Nifty-50 &amp; BSE Sensex declined by 1.2% this week as market mood became cautious on rising global and local bond yields. The broader markets that is NSE Mid Cap 100 Index and BSE Small Cap Index are both in the green this week. The US 10 Year Bond yields have risen from below 1% to 1.29% building in economic impact of the US$ 1.9 trillion stimulus package. In India too the 10 year bond yields have moved up from recent low of 5.76% to 6.13% which could mainly be linked to the higher fiscal deficit estimates. We expect domestic 10-year bond yields to be in the range of 6-6.75% in this calendar year. Oil &amp; Gas &amp; power stocks were major gainers this week. Almost 37 stocks from Nifty-50 lost ground this week with Pharma and select consumers having lost the most. This week PSU banks were in demand on reports of government likely to bring amendments to two legislations later this year to facilitate privatisation of public sector banks. We need to see if Nifty-50 holds the 15,000 level in the near term. The next major support for the Nifty-50 is the 50 DMA placed at 14,321 as of now.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>

TECH VIEW :: 15K to act as resistance now, says Rohit Singre, senior technical analyst at LKP Sec

Index closed a week on a negative note at 14982 with loss of more than one per cent and formed a bearish engulfing kind of candle pattern on weekly chart which represents trend reversal. As index managed to breached to its strong support of 15k mark which will acts as an immediate resistance now so above 15k mark we may see some relief otherwise we may see more downside levels of 14900-14750 on the other hand 15100-15170 will act as a strong hurdle on the higher side&quot;

Market stats :: 249 scrips hit 52-week high today

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STOCK OF THE DAY :: IDFC First Bank ends over 7% higher on fund raising plan

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STOCK OF THE DAY :: ONGC slides 5% on profit-booking

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<div>
	On Friday, though, the frontline S&amp;P BSE Sensex nurses losses of 435 points, or 0.85 per cent, to end the day at 50,890 levels.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	On the NSE, the Nifty50 index gave up the 15,000-mark and settled at 14,982 levels, down 137 points or 0.9 per cent. It hit an intra-day low of 14,898.</div>
<div>
	&nbsp;</div>

$3.5-bn govt fund for finishing stalled housing projects begins to pay off

A 250-billion-rupee ($3.5 billion) fund set up by India&rsquo;s government to complete stalled housing projects is set to deliver its first finished apartments in 2021, offering a template for a problem that has washed out savings of thousands of home buyers and bankrupted developers. <a href="https://www.business-standard.com/article/economy-policy/3-5-bn-govt-fund-for-finishing-stalled-housing-projects-begins-to-pay-off-121021900361_1.html" target="_blank"><strong>READ MORE</strong></a>

Additional Budget allocation to wipe out fertiliser subsidy backlog: Ind-Ra

The credit metrics of fertiliser manufacturers in general and urea manufacturers in particular are likely to improve meaningfully in FY22 due to strong likelihood of clearance of subsidy backlogs after allocation of an additional Rs 62,600 crore fertiliser subsidy in the revised estimate of FY21, India Ratings and Research (Ind-Ra) said on Friday.
<div>
	&nbsp;</div>
<div>
	It will substantially reduce working capital debt and interest expenses. This will also encourage industry players to increase capital intensity to further improve their operating efficiencies, said Ind-Ra. <a href="https://www.business-standard.com/article/economy-policy/additional-budget-allocation-to-wipe-out-fertiliser-subsidy-backlog-ind-ra-121021900560_1.html" target="_blank"><strong>READ MORE</strong></a><br />
	<div style="float: left; max-width: 600px;">
		<img align="" alt="" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2019-06/19/full/1560889600-2881.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="" width="620" /></div>
</div>
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Fall from intra-day high in BSE500 stocks in today's session

<table border="1" cellpadding="1" cellspacing="1" class="table-txt-right" style="text-align: right; color: rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; font-size: 14px;width: 620px" width="100%">
	<thead>
		<tr class="table-BG-grey" style="box-sizing: border-box; background: rgb(243, 243, 243);">
			<th class="tdh tdL" scope="row" style="box-sizing: border-box; font-weight: 700; text-transform: uppercase; font-family: Roboto; font-size: 13px; padding: 8px 5px; text-align: left !important; border-bottom: none !important;">
				COMPANY</th>
			<th class="tdh" scope="col" style="box-sizing: border-box; font-weight: 700; text-transform: uppercase; padding: 8px 5px; border-bottom: none !important;">
				DAY&#39;S HIGH(RS)</th>
			<th class="tdh" scope="col" style="box-sizing: border-box; font-weight: 700; text-transform: uppercase; padding: 8px 5px; border-bottom: none !important;">
				DAY&#39;S LOW(RS)</th>
			<th class="tdh" scope="col" style="box-sizing: border-box; font-weight: 700; text-transform: uppercase; padding: 8px 5px; border-bottom: none !important;">
				LATEST(RS)</th>
			<th class="tdh" scope="col" style="box-sizing: border-box; font-weight: 700; text-transform: uppercase; padding: 8px 5px; border-bottom: none !important;">
				FALL(%)</th>
		</tr>
	</thead>
	<tbody style="box-sizing: border-box;">
		<tr style="box-sizing: border-box;">
			<th class="tdL" scope="row" style="box-sizing: border-box; font-family: Roboto; font-size: 13px; font-weight: 700; text-transform: uppercase; padding: 8px 5px; text-align: left !important; border-bottom: none !important;">
				<a href="https://www.business-standard.com/company/central-bank-5539.html" style="box-sizing: border-box; color: rgb(0, 0, 0); text-decoration-line: none; outline: 0px; font-weight: 400; text-transform: capitalize !important;">Central Bank</a></th>
			<td class="amount" style="box-sizing: border-box; border-bottom: none !important; padding: 8px 5px; text-transform: uppercase;">
				26.40</td>
			<td class="amount" style="box-sizing: border-box; border-bottom: none !important; padding: 8px 5px; text-transform: uppercase;">
				21.64</td>
			<td class="amount" style="box-sizing: border-box; border-bottom: none !important; padding: 8px 5px; text-transform: uppercase;">
				21.64</td>
			<td class="comAmt2" style="box-sizing: border-box; border-bottom: none !important; padding: 8px 5px; text-transform: uppercase;">
				-18.03</td>
		</tr>
		<tr style="box-sizing: border-box;">
			<th class="tdL" scope="row" style="box-sizing: border-box; font-family: Roboto; font-size: 13px; font-weight: 700; text-transform: uppercase; padding: 8px 5px; text-align: left !important; border-bottom: none !important;">
				<a href="https://www.business-standard.com/company/i-o-b-5955.html" style="box-sizing: border-box; color: rgb(0, 0, 0); text-decoration-line: none; outline: 0px; font-weight: 400; text-transform: capitalize !important;">I O B</a></th>
			<td class="amount" style="box-sizing: border-box; border-bottom: none !important; padding: 8px 5px; text-transform: uppercase;">
				20.90</td>
			<td class="amount" style="box-sizing: border-box; border-bottom: none !important; padding: 8px 5px; text-transform: uppercase;">
				17.10</td>
			<td class="amount" style="box-sizing: border-box; border-bottom: none !important; padding: 8px 5px; text-transform: uppercase;">
				17.15</td>
			<td class="comAmt2" style="box-sizing: border-box; border-bottom: none !important; padding: 8px 5px; text-transform: uppercase;">
				-17.94</td>
		</tr>
		<tr style="box-sizing: border-box;">
			<th class="tdL" scope="row" style="box-sizing: border-box; font-family: Roboto; font-size: 13px; font-weight: 700; text-transform: uppercase; padding: 8px 5px; text-align: left !important; border-bottom: none !important;">
				<a href="https://www.business-standard.com/company/bank-of-india-5654.html" style="box-sizing: border-box; color: rgb(0, 0, 0); text-decoration-line: none; outline: 0px; font-weight: 400; text-transform: capitalize !important;">Bank Of India</a></th>
			<td class="amount" style="box-sizing: border-box; border-bottom: none !important; padding: 8px 5px; text-transform: uppercase;">
				101.45</td>
			<td class="amount" style="box-sizing: border-box; border-bottom: none !important; padding: 8px 5px; text-transform: uppercase;">
				83.80</td>
			<td class="amount" style="box-sizing: border-box; border-bottom: none !important; padding: 8px 5px; text-transform: uppercase;">
				83.80</td>
			<td class="comAmt2" style="box-sizing: border-box; border-bottom: none !important; padding: 8px 5px; text-transform: uppercase;">
				-17.40</td>
		</tr>
		<tr style="box-sizing: border-box;">
			<th class="tdL" scope="row" style="box-sizing: border-box; font-family: Roboto; font-size: 13px; font-weight: 700; text-transform: uppercase; padding: 8px 5px; text-align: left !important; border-bottom: none !important;">
				<a href="https://www.business-standard.com/company/bank-of-maha-5607.html" style="box-sizing: border-box; color: rgb(0, 0, 0); text-decoration-line: none; outline: 0px; font-weight: 400; text-transform: capitalize !important;">Bank Of Maha</a></th>
			<td class="amount" style="box-sizing: border-box; border-bottom: none !important; padding: 8px 5px; text-transform: uppercase;">
				27.73</td>
			<td class="amount" style="box-sizing: border-box; border-bottom: none !important; padding: 8px 5px; text-transform: uppercase;">
				22.69</td>
			<td class="amount" style="box-sizing: border-box; border-bottom: none !important; padding: 8px 5px; text-transform: uppercase;">
				22.97</td>
			<td class="comAmt2" style="box-sizing: border-box; border-bottom: none !important; padding: 8px 5px; text-transform: uppercase;">
				-17.17</td>
		</tr>
	</tbody>
</table>
<a href="https://www.business-standard.com/stocks/market-statistics/bse/fall-from-intraday-high?indices=21552" target="_blank"><strong>Click here for the full list</strong></a>

Bears tighten grip! Sensex extends fall, down over 650 points

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Financials top Sensex drags in today's session

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Decisive break above Rs 47k needed for meaningful upside in gold: Rahul Gupta, Emkay Global

There is a negative correlation between gold and US bond yields. The selling pressure in gold is on hopes that US and global growth will recover more quickly as vaccines roll out. Also, the fears that additional fiscal stimulus will increase inflation are keeping US yields higher. So with yields rising and technical levels under fire, the fall may continue. MCX gold prices continue to trade with a negative bias. And the bearish outlook for the counter will stay until prices trade below 47000. Bounce will face resistance until then and prices will slip towards 45525/45110/44800 areas. A decisive break above 47000 is required for the bulls to make any meaningful comeback.

U-Turn! Nifty PSU Bank index erases gains, turns worst sectoral perfomer

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Stock of this packaged foods company has zoomed 208% in six months

Shares of Hindustan Foods hit a new high of Rs 2,286, rallying 10 per cent on the BSE in intra-day trade on Friday in otherwise weak market. In the past one week, the stock of packaged foods company has gained 24 per cent after reporting the highest quarterly revenues and profit after tax (PAT) in its history for the quarter ended December 2020 (Q3FY21). <strong><a href="https://www.business-standard.com/article/markets/stock-of-this-packaged-foods-company-has-zoomed-208-in-six-months-121021900616_1.html?1613724773" target="_blank">READ MORE</a></strong><br />
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	<img align="" alt="defaults, NPA, growth, credit, economy, gdp, market, shares, stocks, valuation, growth, profit, loss" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2020-10/10/full/1602271514-0703.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="defaults, NPA, growth, credit, economy, gdp, market, shares, stocks, valuation, growth, profit, loss" width="620" /></div>
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MARKET UPDATE:: Nifty gives up 15k; India VIX up 5%

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MARKET UPDATE:: Sensex extends losses, tumbles over 500 pts

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Sensex gives up 51K amid broad-based sell-off, dips 435 pts; PSBs, auto hit

The Nifty PSU bank index ended as the top laggard on the NSE, down 4.7 per cent, after surging nearly 6 per cent each over the past two days

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