Markets at 10 AM LIVE market updates: The benchmark indices were deep in red in a highly volatile market. The BSE Sensex was 883 points down at 56,974, and the NSE Nifty was at 17,039, lower by 238 points. The losses were being led by HDFC Bank, Infosys, Reliance and ICICI Bank, all down 1-2 per cent. In the broader markets, the BSE MidCap index was underperfoming the benchmarks and was trading 1.8 per cent lower, while the SmallCap index was down 0.5 per cent. ALSO READ: Oil prices can hit $125 a barrel if Russia-Ukraine crisis worsens: Analysts Sectorally, the Nifty Realty index was now the biggest loser trading with a cut of 3 per cent, followed by Consumer Durables, IT, Metals and Banks. However, PSB Nifty index was still in green, up 0.4 per cent led by gains in India Bank, Central Bank, J&K Bank and Canara Bank, up between 1-1.5 per cent. ALSO READ: IPO Can you make a fortune in Adani Wilmar IPO? What brokerages say Among stocks, Torrent Pharmaceuticals was down 14 per cent on the BSE after the company reported disappointing December quarter (Q3FY22) results on the margins front. Profit after tax (PAT) declined 16 per cent year on year (YoY) to Rs 249 crore. READ MORE. Further, shares of Future Enterprises were up 1.7 per cent on the exchange after it agreed to sell a 25 per cent stake in its general insurance joint venture, Future Generali India Insurance Company to its partner, Generali Participations Netherlands N. V.(Generali) for a cash consideration of Rs 1252.96 crore. READ ABOUT IT HERE. ________________________________________________________________- Opening Bell
LIVE market updates: Amid weak global cues and a possibility of rate hikes by the Federal Reserve from March, the benchmark indices opened on a sharply lower note and were down up to 1 per cent. The BSE Sensex was 926 points lower at 56,931, while the NSE Nifty was at 17,013, down by 264 points.
In the broader market, the BSE MidCap and SmallCap indices were also in red and were down up to 1.6 per cent.
All Sensex-30 shares were trading in the negative territory barring Axis Bank, Maruti and IndusInd Bank. Titan, Wipro, Tech M, HDFC twins, Infosys, Nestle, Dr Reddy's, HCL Tech, Tata Steel, Bajaj twins, TCS and Ultratech Cement were the top losers, down 2-3 per cent. On the Nifty, ONGC was the sole gainer, up 2 per cent. Meanwhile, Grasim, Eicher Motors and Divis Labs were the additional losers. The fear gauge that is the volatility index was also up 7.6 per cent around 23 level, reflecting nervousness among investors. Sectorally, the Nifty IT, Pharma and Consumer Durables were leading the losses, down over 2 per cent each. These were followed by Auto, Bank, Financial services, Realty and Metal indices.
However, Nifty PSU Bank was the only index in green, up 0.12 per cent. Among stocks, Indiabulls Real estate was down 5 per cent on the BSE after the company's Q3 performace was disappointing. The company on Tuesday reported a consolidated net loss of Rs 87.21 crore for the quarter from a net profit of Rs 80.58 crore in the year-ago period.
_____________________________________________________________ Pre-open session LIVE market updates: The benchmark indices were seen in the negative territory amid weak global cues. The BSE Sensex was down 541 points at 57,316, while theb NSE Nifty was lower by 215 points at 17,062. _____________________________________________________________ LIVE market updates: The key benchmarks are likely to start sharply lower on Thursday as indicated by levels of SGX Nifty February futures, which were at 16,917 this morning, lower by over 350 points as compared to Nifty's spot close the previous session. The markets may remain volatile as domestic investors react tothe US Federal Reserve reaffirming its stance on a tighter monetary policy starting from March 2022.Among individual stocks, BHEL, Canara Bank, Colgate, GMDC, LIC Housing Finance, MapmyIndia, PNB, RBL Bank and Wockhardt are some of the companies to announce December quarter results today. Hence, these stocks may also be eyed.
In the primary market, the IPO of Adani Group joint venture-Adani Wilmar will open for subscription. The company has raised 940 Rs crores from anchor investors. It plans to raise up to Rs 3,600 crore by way of fresh issue of equity shares. The price band is fixed at Rs 218- 230. Global cues Overnight in the US, the key benchmark indices wiped-out solid gains in late trade soon after the US Federal Reserve released the policy minutes, which signaled that Fed was likely to raise rates and end its bond purchases in March itself.The Dow Jones and the S&P 500 ended 0.4 per cent and 0.2 per cent lower at 34,168 and 4,350, respectively, as against the day’s high of 34,816 and 4,453, respectively. Similarly, Nasdaq erased more than 450 points from the day’s high, to end almost unchanged at 13,542.
Nearer home, most major markets in Asia were down considerably this morning. Japan’s Nikkei plunged 1.7 per cent, and Hang Seng shed 2 per cent. Kospi had tumbled 2.4 per cent, while Shanghai and Straits Times slipped 0.4 per cent each. Taiwan was down 0.2 per cent.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU