Sensex zooms 526 pts, Nifty ends at 22,124 as Reliance, Maruti drive rally

Stock market highlights on March 27: Reliance Industries closed 3.6 per cent higher, making up 58 per cent of Sensex gains after Goldman Sachs raised target price on the stock

2:06 PM

NBFC stock hits 10% upper circuit after tanking 50% in last 17 trading days

Shares of IIFL Finance were locked in 10 per cent upper circuit at Rs 353.50 on the BSE on Wednesday. This came after heavy volume trades, with only buyers seen at the counter. The stock of non-banking finance company (NBFC) has bounced back 13 per cent from its 52-week low of Rs 313.25 touched in intra-day trade today. Read

1:49 PM

Housing sales in Jan-Mar rise 14%, average prices up 10-32%: Anarock

Housing sales have risen 14 per cent, while average prices are up 10-32 per cent across seven major cities during the January-March period of this year, as demand continues to be strong, according to Anarock. The sales of residential properties increased in Mumbai Metropolitan Region (MMR), Pune, Bengaluru and Hyderabad, but declined in Delhi-NCR, Chennai and Kolkata. Read

1:37 PM

RBI keen to further build up record high forex reserves for larger buffers

India's central bank will keep building its forex reserves as it seeks to build larger buffers, and strong inflows into the country's equity and debt markets give it an opportunity to do so, two sources familiar with the bank's thinking said. Read

1:21 PM

Maruti Suzuki market cap crosses Rs 4 trillion; stock jumps 4%

Maruti Suzuki India (MSIL) became the first automobile firm to touch Rs 4 trillion market capitalisation (market cap), as the stock price of the company hit a new high of Rs 12,724.95 on rallying 4 per cent on the BSE in Wednesday's intra-day trade. Read

1:05 PM

IIFL, Geojit: Brokerage stocks tank up to 40% in 2 mths; Time for pullback?

Shares of brokerage firms have witnessed a sharp sell-off in the last two months, having declined up to 40 per cent, even as the benchmark indices gained 2 per cent. 

 

Will the beaten down stocks witness some pullback or is more pain in store? Check what charts suggest

12:50 PM

Torrent Power up 7%, hits 52 week high on lower spot LNG prices

Shares of power generation company Torrent Power surged up to 7 per cent at Rs 1,512 on Wednesday’s intraday trade on BSE. However, giving up the early gains the stock was trading at Rs 1,440 up 2.28 per cent at 12:15 PM. In comparison the S&P BSE was up by 0.76 per cent. Read

12:37 PM

Delta Corp hits over 3-year low; stock tanks 55% from 52-week high

Shares of Delta Corp hit an over three-year low at Rs 116.50, down 1 per cent on the BSE in Wednesday's intra-day trade in an otherwise firm market on earnings worries. In comparison, the S&P BSE Sensex was up 0.8 per cent at 73,027 at 11:04 am. Read

12:05 PM

Adani Green Energy commissions 180MW solar plant at Devikot, Rajasthan

Adani Green Energy on Wednesday said it has operationalized a 180-MW solar power plant at Devikot in Jaisalmer, Rajasthan. The plant has a 25-year power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI), Adani Green Energy Ltd (AGEL), India's largest renewable energy company, said in a statement. Read

11:51 AM

Reliance jumps 3% as Goldman Sachs sees up to 56% upside in stock by FY26

Shares of oil-to-telecom major Reliance Industries (RIL) jumped 3 per cent intra-day to Rs 2,979 on BSE in Wednesday's early deals after Goldman Sachs (GS) raised its target price on the stock, citing peaking capital expenditure (capex) in old businesses, favourable risk-reward and value accretion from the recent media joint venture with Disney. Read

11:38 AM

ABB India hits new high on strong outlook; surges 46% from Feb low

Shares of ABB India hit a new high of Rs 6,341, as they rallied 7 per cent on the BSE in Wednesday’s intra-day trade on strong business outlook. The stock of the heavy electrical equipment company is quoting higher for the seventh straight trading day, surging 17 per cent during this period. Read

11:21 AM

Nifty to remain at 24,000; expect bounce back in 3-6 months: Emkay

The Indian stock market has seen a bit of a slump recently, especially in smaller and mid-sized companies (SMIDs). But Emkay, a leading financial firm, says this is just a temporary blip and there's no need to hit the panic button. Read

11:08 AM

Zomato, Nykaa: New-age stocks defy market fall; analysts see more upside

The carnage in the mid, and small-cap stocks has engulfed scores of stocks over the past one month. However, stocks of new-age companies such as Zomato, and Nykaa have largely bucked the trend, rallying up to 11 per cent during the period. Read

10:46 AM

VIEW: Market may take new direction from April

Market is likely to continue in the consolidation mode for a couple of days more and then take a new directional trend starting April. The undertone of the market continues to be bullish supported by strong economic fundamentals.

 

A significant structural trend in the market is the sustained flows into equity mutual funds which are gathering momentum. This will ensure resilience of the market with dips getting bought.

 

Midcaps have again become the segment of activity, particularly by retail investors. This is because there is no institutional selling pressure in midcaps unlike in largecaps where institutions including FIIs have large holdings.
 

Financials are likely to lead the rally along with capital goods and automobiles in early April. Credit growth in the economy is impressive at around 20% and this will help boost banks’ profitability. Q4 results of banks will be good.

Views by V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

10:30 AM

China's industrial profits rise 10% showing signs of stabilising economy

China's industrial firms posted higher profits in the opening months of the year, official data showed on Wednesday, reinforcing signs that an economic recovery was gaining traction despite persistent sluggishness in the property sector. Read

10:16 AM

S&P Global downgrades outlooks on 5 regional US banks to 'negative'

S&P Global downgraded its outlooks on five regional U.S. banks to "negative" from "stable" due to their commercial real estate (CRE) exposures, the ratings agency said on Tuesday.
 

It downgraded First Commonwealth Financial, M&T Bank , Synovus Financial, Trustmark and Valley National Bancorp. Read