Page 1126 - Markets News
Rs 8 trillion wiped out as markets shed 1.5%; Zee shares slump 30%
Selloff led by banks, oil and gas stocks, FMCG, and metals
 "Rs 8 trillion wiped out as markets shed 1.5%; Zee shares slump 30%")
Abolish STT, sops for rural India: What markets expect from interim budget
Interim budget proposals are likely to have a hint of populism given the upcoming general elections, believe analysts, but unlikely to derail the government from its path of fiscal prudence.
 "Abolish STT, sops for rural India: What markets expect from interim budget")
Equity, money markets in the US remain polarised, says Chris Wood
Another key development in the US, that the global equity markets would eye over the next few months, is how the political landscape shapes up ahead of the presidential elections
 "Equity, money markets in the US remain polarised, says Chris Wood")
Promoters can offer shares to staff via stock exchange mechanism: Sebi
At present, shares under OFS are offered to the staff outside the stock exchange mechanism
 "Promoters can offer shares to staff via stock exchange mechanism: Sebi")
Zee nosedives 30% in worst single-day fall after Sony scraps deal
After the deal with Sony was terminated, nearly half a dozen brokerages downgraded Zee's stock while lowering the earnings multiple assigned to the cash-strapped company
 "Zee nosedives 30% in worst single-day fall after Sony scraps deal")
Bank of Japan meeting gives yen a jolt, euro dips amid global volatility
After that excitement, however, the yen last traded flat on the day at 148.0 per dollar, having been as weak as 148.6 and as strong as 146.9
 "Bank of Japan meeting gives yen a jolt, euro dips amid global volatility")
Investors' wealth erodes by Rs 8.50 trillion as stock markets tumble
Following the decline in the benchmark index, the market capitalisation of BSE-listed companies eroded by Rs 8,50,820.81 crore to Rs 3,65,97,915.97 crore
 "Investors' wealth erodes by Rs 8.50 trillion as stock markets tumble")
Benchmark 10-yr bond yields steady at 7.1% as traders await fresh cues
India's benchmark 10-year yield ended at 7.1751%, following its previous close at 7.1790%. India's bond markets were shut on Monday and will be closed on Friday
 "Benchmark 10-yr bond yields steady at 7.1% as traders await fresh cues")
Rupee falls 9 paise to close at 83.16 against dollar on weak sentiment
Forex traders said foreign fund outflows also put pressure on the rupee. However, a weak US Dollar overseas cushioned the downside
 "Rupee falls 9 paise to close at 83.16 against dollar on weak sentiment")
Sensex slides 1,053 pts, Nifty ends below 21,250; ZEE plunges 31%, RIL 2%
Stock market highlights on Tuesday, January 23: The BSE MidCap and SmallCap indices fell nearly 3 per cent each. Sectorally, the Nifty Media index crashed 13 per cent
 "Sensex slides 1,053 pts, Nifty ends below 21,250; ZEE plunges 31%, RIL 2%")
Sensex sinks 1,668pts from day's high, hits 1-mth low of 70,200: Here's why
Nifty Realty, Oil & Gas indices declined up to 5 per cent, while Pharma index held 1.6 per cent gains
 "Sensex sinks 1,668pts from day's high, hits 1-mth low of 70,200: Here's why")
Stock of this smallcap industrial products company has zoomed 68% in 4 days
At 02:37 PM; STEL was quoting 13 per cent higher at Rs 107.08, as compared to 1.4 per cent decline in the S&P BSE Sensex
 "Stock of this smallcap industrial products company has zoomed 68% in 4 days")
HUL hits 18-month low; stock plunges 8% in 2 days post weak Q3 results
The market price of HUL has fallen below its previous low of Rs 2,393, hit on March 15, 2023. It is trading at its lowest level since July 2022
 "HUL hits 18-month low; stock plunges 8% in 2 days post weak Q3 results")
HDFC Bank hits 52-wk low; wipes Rs 1.9 trn m-cap with 15% fall in 1 week
The stock slipped nearly 4% to Rs 1,425.05 on the BSE in intra-day trade, falling below its previous low of Rs 1,460.55 touched on October 26, 2023.
 "HDFC Bank hits 52-wk low; wipes Rs 1.9 trn m-cap with 15% fall in 1 week")
Zee plummets 30% as Sony calls off merger; CLSA downgrades stock to 'sell'
With Zee-Sony merger being terminated, we believe Zee's price-to-earnings (PE) will slump back to 12x levels, seen prior to the Sony merger announcement, CLSA said
 "Zee plummets 30% as Sony calls off merger; CLSA downgrades stock to 'sell'")
Medi Assist Health sees decent debut, lists at 11% premium over issue price
Post listing, the stock moved 24 per cent higher to Rs 518 on NSE. It hit a high of Rs 509.60 on the BSE in intra-day trade
 "Medi Assist Health sees decent debut, lists at 11% premium over issue price")
Persistent Systems zooms 10% on strong Q3 results; okays 1:2 stock split
In past 6 months, the stock price of Persistent Systems has zoomed nearly 80 per cent. In comparison, the S&P BSE Sensex was up 8 per cent during the same period.
 "Persistent Systems zooms 10% on strong Q3 results; okays 1:2 stock split")
Stocks to Watch today: Zee, Cipla, MRPL, Axis Bank, Medi Assist, JSW Group
Stocks to watch on Tuesday, January 23, 2024: Zee Entertainment in focus as Sony India calls-off merger; Axis Bank, Havells, JSW Energy, L&T Housing Finance, RECL and Tata Elxsi to Q3 results today.
 "Stocks to Watch today: Zee, Cipla, MRPL, Axis Bank, Medi Assist, JSW Group")
AC manufacturer Voltas stock hots up on hopes of a cooler outlook
Manufacturers have also started to stock channels in anticipation of summer demand which may kick in from Q4FY24
 "AC manufacturer Voltas stock hots up on hopes of a cooler outlook")
India's sudden stock, currency market holiday risks denting global image
The inauguration of the Ram temple in northern India on Monday marks a new milestone in Modi's project of reshaping the country into a more avowedly Hindu nation
 "India's sudden stock, currency market holiday risks denting global image")