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05:15:17 PM IST, 13 March 2024

Nifty Bank closes below 47,000 for the 1st time since 29 February; support seen at 46280: Experts

The Nifty Bank closed in the red on Wednesday for the fourth consecutive day in a row. The index closed below 47000 for the first time since 29th February 2024.

The Nifty Bank index fell more than 300 points to close at 46,981 while the Nifty50 closed 1.5% lower below 22000.

PNB, Bandhan Bank, Bank of Baroda, and Federal Bank were among top index losers while some buying is seen in ICICI Bank, Kotak Bank, and AU Small Finance Bank.

05:14:23 PM IST, 13 March 2024

Nifty breaches 20-DEMA, trendline support. What should traders do on Thursday expiry

Nifty on Wednesday ended 338 points lower to slip below its immediate support of the short-term moving average i.e. 20-DEMA and also breached the trendline support.

The bullish pattern like higher tops and bottoms continued on the daily chart and the present weakness could be in line with the new higher bottom formation. But a decisive move below 21,860 levels (last higher bottom of 29th Feb) could negate this bullish setup and that could eventually form a bearish pattern like lower tops and bottoms, Nagaraj Shetti of HDFC Securities said.

The daily momentum indicator had a negative crossover. OI data showed that on the call side, the highest OI was observed at a 22,000 strike price, while on the put side, the highest OI was at 21,800 strike price.

04:21:43 PM IST, 13 March 2024

Rupee falls 5 paise to settle at 82.85 against US dollar

The rupee declined by 5 paise to settle at 82.85 (provisional) against the US dollar on Wednesday, tracking a broad-based selloff in domestic markets. Forex traders said the rupee is likely to trade with a slightly negative bias on recovery in the greenback and concerns over elevated crude oil prices.

At the interbank foreign exchange market, the local unit opened at 82.82 and witnessed an intra-day low of 82.91 and a high of 82.82 against the greenback during the trading session.

04:08:13 PM IST, 13 March 2024

In contrast to the global uptrend, unfavourable risk-reward balance of mid and small-cap stocks, fuelled by prolonged premium valuations, has aggravated the downfall. Meanwhile, FMCG and contrarian plays like gold are offering some refuge. Other than the premium valuation no fundamental issue is noticed to drawback the long-term growth image of domestic midcaps.Globally, the persistent US inflation rate has cast doubt on the Fed’s ability to implement imminent rate cuts. While domestic inflation appears to be showing signs of easing. However, the easing trend in global commodity prices may prompt central banks to consider rate cuts in the latter half of 2024, which could be positive for equity.

– Vinod Nair, Head of Research, Geojit Financial Services

03:46:25 PM IST, 13 March 2024

Market View | Ajit Mishra, SVP – Technical Research, Religare Broking

Markets plunged lower and lost ~1.5%, after spending nearly a week in a narrow range. After the initial uptick, Nifty drifted gradually in the initial hours however the pace of decline intensified as the day progressed. Eventually, it settled closer to the day’s low at 21,997.70 levels. The selling pressure was widespread wherein metal, realty and energy lost over 5% each. The broader indices extended their prevailing bias and lost in the range of 4%-5%.

It is a double whammy for participants as Nifty has slipped below its immediate support of short-term moving average i.e. 20 DEMA and also breached the trendline support while midcap and smallcap space are already under tremendous pressure. We suggest maintaining negative bias in the index now and utilizing rebound to create short positions. At the same time, traders shouldn’t add to their loss-making positions and prefer index majors over others.

03:37:04 PM IST, 13 March 2024

Top gainers & losers in closing trade

03:35:02 PM IST, 13 March 2024

Closing Bell: Sensex plummets 906 points; Nifty below 22,000; Power Grid, NTPC decline 7% each

03:10:21 PM IST, 13 March 2024

European shares scale new record highs on upbeat earnings

European shares opened higher to hit another record high on Wednesday, as upbeat corporate updates encouraged market sentiment, while investors awaited industrial production data from the region.

The pan-European STOXX 600 was up 0.1%, by 8:21 GMT, following the benchmark’s all-time closing high on Tuesday

03:10:10 PM IST, 13 March 2024

The market reaction is primarily driven by the concern raised by the market regulator about the froth that has built up around small, medium, and microcap valuations. They have also mentioned some manupulations being observed in the medium and small cap segments. Some of the larger AMCs are also not accepting large lump-sum investments in that space as a matter of caution. Hence, investors want to derisk their positions, keeping in mind the perceived risk emanating from them.

– Ajit Banerjee, Chief Investment officer at Shriram Life Insurance Company

02:44:50 PM IST, 13 March 2024

Stock Market Crash LIVE Updates | SENSEX TANKS OVER 1132 PTS!

02:31:52 PM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates: Mangalore Chemicals And Fertilisers filed a writ petition against Fertilizer Department, India Government

02:21:21 PM IST, 13 March 2024

Stock Market Crash LIVE Updates | SENSEX TANKS OVER 1000 PTS!

02:20:39 PM IST, 13 March 2024

Stock Market Crash LIVE Updates: Nifty gives up 22,000 level

02:18:25 PM IST, 13 March 2024

Sensex Today | Stock Market Crash LIVE Updates: Sensex tanks 950 points

02:01:55 PM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates | Heritage Foods Limited announces inauguration of the UHT Plant at Shamirpet, Hyderabad

01:56:11 PM IST, 13 March 2024

Sensex Today | Stock Market Crash LIVE Updates: Sensex tumbles 800 points to day’s low

01:29:42 PM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates | RVNL receives Letter of Award (LoA) from M. P. Paschim Kshetra Vidyut Vitran Company for project worth Rs 106 crore

01:12:02 PM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates: Vikas Lifecare says it has no business connections with entities under scanner of govt agencies

12:52:28 PM IST, 13 March 2024

BITCOIN HITS RECORD HIGH; LAST UP 2.8% AT $73,056

12:31:04 PM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates | Nifty Smallcap 100 declines 5%, experiences biggest intraday drop since December 2022

12:31:01 PM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates: All Adani group stocks trade with cuts, down up to 7%

12:25:57 PM IST, 13 March 2024

SENSEX TANKS 700 PTS, SLIPS BELOW 73K

12:07:35 PM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates | Adani Green, J G Chemicals among top losers at this hour

11:58:10 AM IST, 13 March 2024

Nifty below 22,150: Broader markets under pressure, VIX rises 4%

11:56:14 AM IST, 13 March 2024

Tokyo stocks end lower

Tokyo stocks trimmed earlier gains to close lower on Wednesday, despite a rebound in US tech shares on hopes for Fed rate cuts. The benchmark Nikkei 225 index lost 0.26 percent, or 101.54 points, to end at 38,695.97, while the broader Topix index also fell 0.33 percent, or 8.73 points, to 2,648.51.

11:53:17 AM IST, 13 March 2024

SENSEX FALLS 600 PTS: Here’s how top stocks are doing

11:39:56 AM IST, 13 March 2024

Stock Market View: How to look at SME segment amid strict comments from Sebi?

While SEBI has raised concerns about potential price manipulation in the SME segment, it’s important to not lose sight of the positives that this sector offers. SME Capital markets represent an important opportunity for smaller companies to access equity capital, a critical resource that was previously challenging to secure. These enterprises, despite their smaller IPO sizes, have shown resilience and potential, with several noteworthy companies making successful debuts on SME exchanges. While the smaller size of SME IPOs does make these companies more susceptible to market manipulation, it’s crucial to highlight the broader context of opportunity and growth. Recognizing the importance of transparency and investor protection, the SME exchanges have proactively enhanced disclosure norms in the offer documents.

Investors, therefore, should maintain confidence in the potential of high-quality SMEs, viewing them as valuable components of a diversified investment portfolio, despite the inherent risks associated with their smaller scale.

— Manick Wadhwa, Director at SKI Capital.

11:34:23 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates | SENSEX FALLS 450 PTS!

11:24:15 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates | Shakti Pumps (India) Limited receives 4th work order under the KUSUM‐3scheme from Haryana Renewable Energy Department (HAREDA) for 2,130 pumps.The amount of the work order is Rs. 73.32 Crores

11:03:39 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates: Nazara Technologies pledges $100 Million (Rs 830 crore) to propel global expansion through strategic M&A

11:00:23 AM IST, 13 March 2024

IPO Market Update | Popular Vehicles IPO subscribed 37% so far on Day 2

QIB – NIL
NII – 15%
Retail – 63%
Employee – 5x

10:44:39 AM IST, 13 March 2024

Future competition for markets is coming from cryptos: Uday Kotak

– See a revolution in capital markets from badla system to F&Os
– Investors look at crypto as a hedge

10:35:21 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates | Infibeam Avenues’ CCAvenue secures eMSP Payment Technical Service Provider approval fromSAMA (Saudi Payments); also forges payment processing partnership MOU with Saudi Arabia’sPremier Bank – SAB (Saudi Awwal Bank)

10:32:10 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates: SEBI CHIEF SAYS

  • Will further cut minimum entry size in REITS and InVITS
  • We expect municipal bond growth to be significant
  • Level of foreign interest in InVITS strong
  • Lot of passive investment likely from bond inclusion in global indices

10:23:43 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates | L&T Construction wins a Rs 1,000 to 2,500 crore order forbuildings & factories business

10:09:24 AM IST, 13 March 2024

India bond yields stuck in range despite uptick in US peers

Indian government bond yields were largely unchanged in the early session on Wednesday, unaffected by the uptick in their U.S. counterparts after hotter-than-expected inflation data in the world’s largest economy.

The benchmark 10-year yield was at 7.0306% at 10:05 a.m. IST, following its previous close of 7.0274%.

10:06:07 AM IST, 13 March 2024

IPO Watch | Rungta Greentech files DRHP with NSE Emerge

  • IPO comprises a fresh issue of 38 lakh Equity Shares with a face value of Rs. 10 each

  • The company manufactures recycled and virgin plastic products, such as Recycled PET (Polyethylene Terephthalate) Flakes (RPF), Polyester Dope-Dyed Monofilament Yarn (PMY), Nylon Monofilament Yarn (NMY), and Blow and Injection-Molded Jars and Caps (BM & IM).

  • RGL operates two manufacturing facilities located at Howrah, West Bengal

  • The company intends to invest a substantial part of the total IPO proceeds in its wholly-owned subsidiary – Rungta Eco Extrusions Private Limited, to set up a new manufacturing facility

  • Beeline Capital Advisors Private Limited is the Book Running Lead Manager, and Link Intime India Private Limited is the Registrar to the Issue

09:48:56 AM IST, 13 March 2024

Stock Market View | Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

In the near-term investors should focus on the sustained weakness in the broader market, particularly the Smallcap segment. The excessive valuations in these segments driven by the irrational exuberance of retail investors has been a concern for many months now. But it has taken the strong message from the regulator SEBI to trigger a correction in the Nifty Smallcap index by 10% from the February 8th peak. It is important to understand that 396 stocks are in the lower circuit indicating that there is more pain to come in this segment. Actions from mutual funds also indicate the excessive valuations in the broader market. ICICI Pru has joined two other leading funds in stopping lump sum investments in their mid and smallcap schemes. More are likely to follow.LargecapThe net impact of this shift would be more money flowing into largecaps. outperformance is likely to continue.

09:45:38 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates | Sanghi Industries shares fell 9% in early trade as Ambuja Cements to sell up to 2% equity stake in Sanghi Cements to ensure compliance with shareholding norms.

09:34:29 AM IST, 13 March 2024

Stock Market LIVE Updates | BROKERAGE TAKE: CLSA on ITC: Buy| Target Rs 468

CLSA upgraded ITC to a buy from outperform earlier but slashed the target price to Rs 468 from Rs 486 earlier.

The Cigarette volumes are likely to be muted but premiumisation is underway. FMCG is gradually becoming a key driver.

Quick commerce is likely to accelerate portfolio Premiumisation. The recent correction offers an attractive multiple in a volatile market.

09:33:47 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates: Salasar Techno Engineering secures landmark notification of award for contracts worth Rs 1034 crore

09:23:36 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates | 30 lakh shares of APL Apollo traded; stock up 2%

09:22:18 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates | Salasar Techno Engineering secures landmark notification of award for contracts worth Rs 1,034 crore

09:21:22 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates: Oriana Power says unit got new order for 1.3 MWP solar power plant under Resco

09:21:22 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates | Indian mining group Vedanta must pay 776 million Indian rupees ($9.4 million) to Cairn UK Holdings for a delay in paying dividends, India’s markets watchdog said on Tuesday.

09:20:24 AM IST, 13 March 2024

Rupee falls 5 paise to 82.85 against US dollar in early trade.

09:20:07 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates | NHPC, SJVN among most active stocks in morning trade

09:18:34 AM IST, 13 March 2024

Opening Bell: Sensex rises over 250 pts, Nifty tops 22,400; ITC rallies 6%, BSE 3%

09:08:29 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates: Pre-open session: Sensex rises 300 points; Nifty above 22,430

08:59:57 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates | Block deal in ITC likely done at Rs 404.40 per share: ET NOW

08:56:28 AM IST, 13 March 2024

Stock Market View | Outlook on ITC as BAT looks to offload stake

We believe that shares of ITC could be under pressure in the near term amid a large supply of shares after an expected 3.5% stake sale by British American Tobacco (BAT). A near term top seems to be in place around Rs. 500-odd levels which happened just before the announcement of the demerger of the hotel business into a new entity in August 2023. However, we remain constructive on the company from a medium to long term perspective owing to its strong brand recall and enormous runway for its FMCG business ahead. With inflation expected to moderate further ahead, especially the rural side, we expect volumes in the overall business to come back as we move forward. At the current valuation, we believe that most of the negatives are already priced in and investors could start considering adding the stock to their portfolio at every dip.

— Manish Chowdhury, Head of Research, StoxBox

08:53:41 AM IST, 13 March 2024

Stock Market View | Prashanth Tapse, Senior VP (Research), Mehta Equities

The GIFT Nifty’s recent gain signals bullish market sentiments, backed by key factors like a stable India VIX at 13.63, robust buying by FIIs totalling Rs. 4286 crore, controlled inflation at 5.09%, and optimistic global cues from the US and Wall Street. With technical analysis indicating strong support and resistance levels for the Nifty, the market is ripe for strategic trades, suggesting a buy for Nifty and Bank Nifty with specific targets. The current market dynamics favour value buying in stocks such as INDIGO, APOLLO HOSPITALS, and COLPAL, with INDIGO being spotlighted for an immediate buy based on its momentum play, setting an optimistic tone for investors looking to capitalize on the upward trend.

08:13:00 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates: Asian stocks stride past US inflation to milestone highs

Asian shares notched seven month highs on Wednesday, on the back of record peaks on Wall Street, as investors mostly shrugged off slightly hotter-than-expected U.S. inflation, betting it won’t derail interest rate cuts expected by the middle of the year.

07:55:34 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates: Dollar steadies as traders weigh hotter-than-expected inflation

The U.S. dollar held steady against a handful of rival currencies on Wednesday, as traders weighed what impact hotter-than-expected inflation data could have on chances of an interest rate cut at the Federal Reserve’s June meeting.

07:54:56 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates: Gold subdued as sticky US inflation prompts rate-cut rethink

Gold prices steadied on Wednesday, after posting its biggest decline in a month in the previous session after a sticky U.S. inflation report boosted bond yields and slightly tempered hopes for a June interest rate cut from the Federal Reserve.

07:23:10 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates: Tokyo shares open higher after US gains

Tokyo stocks opened higher Wednesday after US tech shares rebounded on continued hopes for US rate cuts. The benchmark Nikkei 225 index surged 0.81 percent, or 314.74 points, to 39,112.25 in early trade, while the broader Topix index also advanced 0.89 percent, or 23.67 points, to 2,680.91.

07:22:24 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates: Oil prices up on strong US demand, Fed signals in focus

Oil prices rose on Wednesday on expectations of strong global demand, including in the world’s top consumer the United States, and as even somewhat sticky U.S. inflation did not dent expectations the Fed might start cutting rates soon.

07:23:38 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates: Rupee falls 5 paise to close at 82.80 against US dollar

The rupee consolidated in a narrow range and settled for the day 5 paise lower at 82.80 against the US dollar on Tuesday, as market participants remained on the sidelines ahead of the release of key macroeconomic data.

07:23:35 AM IST, 13 March 2024

Sensex Today | Stock Market LIVE Updates: S&P 500 posts record high close as Oracle jumps, traders keep rate-cut bets

U.S. stocks ended sharply higher on Tuesday, with the S&P 500 registering a record high close as Oracle shares surged and consumer price data failed to dampen investors’ hopes of interest rate cuts in the coming months.



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