Stock market LIVE: As per rollover data, the Nifty index has, so far, witnessed rollover in-line with the last three months' averages. However, slight declines in roll cost indicates a capped upside

Bear market, markets, bse, nse, sensex, nifty

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	<b>CLOSING BELL</b><br />
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		Equity markets succumbed to severe selling pressure on Wednesday led by losses in financial stocks and the monthly F&O expiry that weakened investor sentiment.&nbsp;</div>
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		The BSE Sensex slumped 774 points (1.3 per cent) to close at 60,205 after it recovered from its intra day low of 60,081. The NSE Nifty lost 226 points to close at 17,892.&nbsp;</div>
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		Across the two indices, IndusInd Bank, HDFC twins, SBI, Adani Ports, Tech M, Axis Bank and Ultratech Cement were the top drags, slipping 1-4 per cent.<br />
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		On the other hand, Bajaj Auto, Maruti, HUL, Britannia, Tata Steel, and Hindalco firmly defied the weak trend and ended with gains of up to 1 per cent.&nbsp;</div>
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		Within sectors, the Nifty PSB index tanked 3.6 per cent followed by bank, financial indices. Auto, metals and FMCG pockets closed nearly flat with fractional cuts.&nbsp;<br />
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		In the broader market, the BSE midcap index cracked 1.5 per cent while smallcap index lost around 1 per cent. ACC, Adani Power, Motilal Oswal, Vodafone Idea, Concor and Aurobindo Pharma led midcap losses, sinking up to 7 per cent.&nbsp;</div>
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		Among other stocks, <strong>Indus Towers </strong>plunged 7 per cent after the company posted a net loss of Rs 708 crore in Q3FY23. <a href="https://www.business-standard.com/article/markets/indus-towers-tanks-5-hits-over-2-year-low-on-reporting-net-loss-in-q3-123012500220_1.html" target="_blank"><strong>Read more</strong></a></div>
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		<strong>BS SPECIAL: <em>Timing of Hindenburg report is curious; market reaction overdone, say analysts</em></strong></div>
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		The sharp fall in Adani group stocks following a report by a well-known US activist investor Hindenburg Research LLC that said it was shorting them presents a good opportunity to buy these stocks lower from a long-term perspective, analysts say. <a href="https://www.business-standard.com/article/markets/timing-of-hindenburg-report-is-curious-market-reaction-overdone-analysts-123012500779_1.html?1674638789" target="_blank"><strong>Read here</strong></a></div>
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Stock Market LIVE News: As per rollover data, the Nifty index has, so far, witnessed rollover in-line with the last three months' averages. However, slight declines in roll cost indicates a capped upside

Market Live Updates: Sensex, Nifty, Q3, tata motors, bajaj auto, F&O, Budget,airtel

Business Standard

TECHNICAL VIEW: Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

<blockquote>
	<p>
		The Nifty opened on a negative note on January 25 &amp; tumbled down sharply as the day progressed. It breached the key daily moving averages on the way down. The larger structure, however, shows that the index is still in the range, which it has been witnessing for last one month. It recently tested the upper end of the range &amp; thereon it has tumbled down towards the lower end i.e. 17800-17760. This zone has been acting as a strong support &amp; is likely to provide support this time as well. Thus unless the level of 17760 breaks, the Nifty can witness recovery within the short term range.</p>
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		<img align="" alt="markets" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-08/29/full/1661714470-7044.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="markets" width="620" /></div>
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MARKET COMMENT: Vinod Nair, Head of Research at Geojit Financial Services

<blockquote>
	<p>
		Indian equities witnessed significant sell-off as the market appeared apprehensive ahead of the upcoming Union Budget and Fed meeting next week. Sentiments were dampened by persistent FII selling, where funds are being shifted to other EMs as a result of attractive valuations. Furthermore, a weak economic growth outlook that stoked recession fears pulled down global markets.</p>
</blockquote>

Over 1,100 stocks advanced, while 2,390 declined

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Adani Ports, SBI, IndusInd Bank top Nifty50 laggards

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Bajaj Auto, HUL, Hindalco top Nifty50 leaders

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Broader markets bleed; India VIX jumps 7%

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All sectors drown in the sea of red, PSU Bank index worst hit

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SENSEX HEATMAP: 8 out of 30 index constituents close in green

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CLOSING BELL: Nifty50 closes below 17,900 levels, down 200pts

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CLOSING BELL: Sensex falls over 750 points

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India's first-ever green bond auction gets better-than-expected yield

The five-year bond was sold at a cut-off yield of 7.10% versus 7.13% estimate. <a href="https://www.business-standard.com/article/economy-policy/india-s-first-ever-green-bond-auction-gets-better-than-expected-yield-123012500796_1.html?1674640445" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Green bonds" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-09/02/full/1662138166-5125.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="Green bonds" width="620" /></div>
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Cipla Q3 net profit rises 7% to Rs 808 cr on accout of robust sales

Drug major Cipla on Wednesday reported a 7 per cent increase in its consolidated net profit to Rs 808 crore for the third quarter ended December 2022, aided by robust sales. <a href="https://www.business-standard.com/article/companies/cipla-q3-net-profit-rises-7-to-rs-808-cr-on-accout-of-robust-sales-123012500777_1.html?1674640229" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="" class="imgCont" height="280" src="https://bsmedia.business-standard.com/_media/bs/img/misc/2017-03/06/full/cipla-s-production-facility-1488782048-7345850.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Cipla's production facility" width="370" /></div>
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Timing of Hindenburg report is curious; market reaction overdone: Analysts

The sharp fall in Adani group stocks following a report by a well-known US activist investor Hindenburg Research LLC that said it was shorting them presents a good opportunity to buy these stocks lower from a long-term perspective, said analysts, who suggest that the market&rsquo;s reaction to the report is overdone. <a href="https://www.business-standard.com/article/markets/timing-of-hindenburg-report-is-curious-market-reaction-overdone-analysts-123012500779_1.html?1674638789" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Photo: Bloomberg" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-11/18/full/1668749800-3673.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Gautam Adani, Adani Group" width="620" /></div>

Earnings Alert: Cipla Q3 net rises 10%; stock slips 3%

Cipla reported a 9.9 per cent growth in Q3 net profit at Rs 801 crore for the quarter ended December 2022 as against Rs 729 crore in the corresponding quarter a year ago. Total income was up 6 per cent YoY at Rs 5,810 crore.<br />
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	<img align="left" alt="chart" class="imgCont" height="403" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-01/25/full/1674638999-083.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="620" /></div>
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Pidilite Industries dips 3%, hits six-month low on disappointing Q3 results

Shares of Pidilite Industries hit six-month low of Rs 2,300, falling 3.5 per cent on the BSE in Wednesday&#39;s intra-day trade, after the company reported 14.3 per cent year-on-year (YoY) decline in consolidated profit after tax (PAT) at Rs 308 crore, due to higher raw material and interest cost. <a href="https://www.business-standard.com/article/markets/pidilite-industries-dips-3-hits-six-month-low-on-disappointing-q3-results-123012500750_1.html?1674637447" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="PIDILITE" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/misc/2020-03/05/full/pidilite-1583384076-13022620.png" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="PIDILITE" width="620" /></div>
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India-Egypt bilateral trade to top $12 billion in next 5 years: PM Modi

India and Egypt have decided to strengthen defence industry co-operation and take bilateral trade to $12 billion in next 5 years, Prime Minister Narendra Modi said on Wednesday after bilateral talks with Egyptian President Abdel Fattah El-Sisi. <a href="https://www.business-standard.com/article/economy-policy/india-egypt-bilateral-trade-to-top-12-billion-in-next-5-years-pm-modi-123012500741_1.html?1674637108" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Prime Minister Narendra Modi" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-01/20/full/1674226392-2173.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Prime Minister Narendra Modi" width="620" /></div>

Easy Trip Planners Ltd to acquire 55% stake in Glegoo Innovations

Online travel service provider, Easy Trip Planners Ltd on Wednesday said it will acquire a 55 per cent stake in Glegoo Innovations Pvt Ltd, an online travel and tours firm, for Rs 3 crore. <a href="https://www.business-standard.com/article/companies/easy-trip-planners-ltd-to-acquire-55-stake-in-glegoo-innovations-123012500655_1.html?1674637108" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="abroad" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-07/24/full/1658674455-7597.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="abroad" width="620" /></div>
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Global Check:: US, UK stock futures marginally in red

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	<img align="left" alt="chart" class="imgCont" height="398" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-01/25/full/1674636718-4282.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="620" />
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		Source: Investing.com</div>
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Taxing times: Businesses face tax heat over deductions claimed for cess

The Central Board of Direct Taxes (CBDT) has asked top income-tax officers to nudge entities that had claimed deduction on account of cess or surcharge over the past several years to voluntarily pay the differential tax to avoid penalties. <a href="https://www.business-standard.com/article/economy-policy/cbdt-to-i-t-nudge-entities-to-pay-tax-on-cess-deduction-claims-123012401445_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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<div style="float: left; max-width: 600px;">
	<img align="" alt="tax, taxes, I-T, returns, filing" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-01/26/full/1611607461-3017.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="tax, taxes, I-T, returns, filing" width="620" /></div>
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Global Check:: Hang Seng, Kospi shine in Asian trade

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	<img align="left" alt="chart" class="imgCont" height="406" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-01/25/full/1674635502-0465.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="620" />
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		Source: Yahoo Finance</div>
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To strengthen corporate governance norms, Sebi decided to end the practice of individuals having permanent seats on boards of listed companies

SEBI, SECURITIES AND EXCHANGES BOARD OF INDIA

Board approves ASBA-like facility for secondary market, sponsor-less AMCs

Sebi, Securities and Exchange Board of India

Stock market holiday: The Multi Commodity Exchange (MCX) will open for trading in the evening session at 5 PM

BSE, stock market, sensex

Thus far in the calendar year 2023, Bharti Airtel has tumbled 9%, as compared to 6% decline in the S&P BSE Sensex and 13% fall in Reliance Industries' shares

Bharti Airtel

Unless this blows up into substantial numbers wherein we start looking at physical movement restrictions, on current evidence this seems a non-event for markets at this juncture

Markets, market valuation, stocks, Sensex, Adani Group

IDFC First Bank on Monday said it has partnered with Swedish company Crunchfish to pilot a project to demonstrate offline retail payments.
IDFC First Bank, is set to be a part of RBI's pilot project to enable offline payments, the private sector lender said, adding that the project will give access to digital payments even when there is no network.
The unique digital payment solution was designed by Crunchfish for merchants and customers under the RBI's Regulatory Sandbox Program, IDFC First Bank said in a release.
"This project will provide support for offline retail payments based on a Digital Cash platform to the payment ecosystem of India. IDFC FIRST Bank will be one of the first few banks to be a part of this pilot project by HDFC Bank," it said.
The application was approved by the RBI to demonstrate offline payments between two banks. The Development and Demonstration Agreement which is a non-commercial agreement has now been signed to give IDFC First Bank access to the Digit

IDFC First Bank

Press Trust of India

Finance Bill 2023 has introduced an amendment that will classify capital gains arising from debt mutual funds as only short-term capital gains.

mutual funds, MFs

While discounts have come down, pricing gap still large between incumbents and new players

pharma

Some brokers were opting out on behalf of investors who hadn't submitted choice of nomination and whose trading accounts will become inactive after March 31 if they don't exercise their choice by then

Industry players say the number of demat accounts will continue to grow. However, the pace of addition may moderate.

markets, demat account

Agarwal projects 19% jump in FY23 revenue to Rs 5,700 crore

The group has been on a sticky wicket ever since the US-based short seller Hindenburg Research, in a report, alleged -- among other things -- stock manipulation and concerns about its debts

Adani

The stock has slipped 6% to Rs 185.45 and trades at its lowest level since April 2020.

With the IDFC buy, Kolkata-headquartered Bandhan group will gain an entry straightway into the top-10 club.

Bandhan bank

The price of ten grams of 22-carat gold hiked by Rs 200 to Rs 54,700

Gold

Share market holiday: According to the list of trading holidays on the website of BSE, apart from today's holiday, the stock market will remain closed for 12 more days in 2023

Buying in services, realty, commodities and auto stocks also added to the positive momentum

bse, bombay stock exchange, stock market, markets

Funds can disclose NAV by 10 am the next day from July

Mutual Fund

Amid perception in certain quarters that Sebi is weak on the legal side, its chairperson Madhabi Puri Buch on Wednesday said "the facts are absolutely opposite".
Sebi lost the high profile NSE co-location case in the Supreme Court recently wherein the apex court has partly upheld Sebi's orders of making NSE pay Rs 600 crore.
Partly disposing of Sebi order, it allowed only Rs 100 crore penalty on the largest equity bourse and asked the Sebi to return the rest to the exchange.
Addressing a press conference after a board meeting here this evening, Buch said, "while we do admit that the public perception is against us, the facts are absolutely opposite."
Sharing details, she said, "We on average win as much as 75 per cent of the cases at the Supreme Court. That means we lose only one-fourth of the cases that go to the apex court. And I don't think this is bad run rate.
"When it comes to the Securities Appellate Tribunal, our success rate is much higher at 81 per cent as of 2021," Buch

Amid perception in certain quarters that Sebi is weak on the legal side, its chairperson Madhabi Puri Buch on Wednesday said "the facts are absolutely opposite"

Sebi told reporters that chosen debt MFs will contribute 2 basis points of their assets under management towards the fund

Mutual fund

Increased competition, lower spreads, moderate growth are among hurdles to overcome

gold, gold prices

As a result, the combined market capitalisation of the group rose by over Rs 20,000 crore

Adani, Adani Group

Experts cite poor near-term returns, fall in investable income

Sensex slumps 774 pts, Nifty ends below 17900; Auto, FMCG stocks outshine

Closing Bell: Within sectors, the Nifty PSB index tanked 3.6 per cent followed by bank, financial indices. Auto, metals and FMCG pockets closed nearly flat with fractional cuts

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