Share markets in India have erased all the early gains and are presently trading deep in the red.
Benchmark indices pared early gains and slipped into the red in noon deals, weighed down by IT and pharma stocks, ahead of weekly F&O expiry.
Selling pressure was seen as rising bond yields spooked investors. The US 10-year bond yield rose above 1.7% to the highest since January 2020.
Rising Covid-19 cases also dampened investor sentiments. Amid rising cases, Mumbai mayor urged to work together to prevent the lockdown and warned about the necessity of imposing night curfew in the current situation to check the virus spread.
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This Stock Could Potentially be the Next Bajaj Finance
It's a small NBFC player.
This company is backed by one of the most experienced and competent people in the sector.
It already derives good business from corporate lending.
But now the company is making a transition from being a corporate lender to a retail lender.
A transition which turned around the fortunes of Bajaj Finance, another NBFC player.
That's why Richa is confident that this small NBFC player which she has uncovered could potentially be the next Bajaj Finance.
Richa calls this small NBFC player the dark horse of the stock market.
At our Smallcap Fortunes Summit, Richa revealed the details of this stock.
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Watch the Replay
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The BSE Sensex is trading down by 742 points, down 1.2%. Meanwhile, the NSE Nifty is trading down by 217 points.
IT, energy and pharma stocks such as Infosys, TCS, Tech Mahindra, Reliance Industries and Dr Reddy's are among the top laggards.
Shares of Infosys and HCL Tech fell over 4%, while Axis Bank, Dr Reddy's Laboratories, and TCS fell over 2.5%.
The BSE Midcap index and the BSE Smallcap index are trading down by 1.4% and 1.8%, respectively.
All sectoral indices are trading in red with stocks in the IT sector, energy sector and healthcare sector witnessing most of the selling pressure.
BHEL share price surged 7% after the firm said it has emerged as the lowest bidder (Rs 108 billion) for supply of equipment for 6x700 MW nuclear power projects of Nuclear Power Corporation of India.
Learn: How to Potentially Accumulate Rs 7 Crore in Wealth Over the Long-term
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More details to follow in the upcoming commentary.
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Read the latest Market Commentary
What else is happening in the markets today? Dig in...
The BSE Sensex fell over 700 points while NSE Nifty dipped below 14,500 mark.
Mar 18, 2021 12:30 pmBSE Sensex is trading up by 288 points, while the NSE Nifty is trading up by 84 points.
Mar 18, 2021 10:06 AMINDIAN BANK share price is trading up by 5% and its current market price is Rs 123. The BSE BANKEX is up by 1.3%. The top gainers in the BSE BANKEX Index is INDIAN BANK (up 5.2%).
Mar 18, 2021 09:54 AMINDIABULLS REAL EST share price is trading up by 5% and its current market price is Rs 96. The BSE REALTY is up by 1.1%. The top gainers in the BSE REALTY Index is INDIABULLS REAL EST (up 5.2%). The top losers are OMAXE (down 0.1%) and PHOENIX MILL (down 0.2%).
Mar 18, 2021 09:30 amIndian share markets open strong. The BSE Sensex opened up by 316 points, while the Nifty is trading higher by 92 points.
Mar 18, 2021 09:42 AMDIXON TECHNOLOGIES share price is trading up by 11% and its current market price is Rs 4,588. The BSE CONSUMER DURABLES is up by 2.0%. The top gainers in the BSE CONSUMER DURABLES Index is DIXON TECHNOLOGIES (up 10.7%). The top losers is SYMPHONY (down 0.1%).
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