Sensex snaps 3-day winning run, falls 542 pts; Nifty gives up 17,600

CLOSING BELL: M&M (down 3 per cent), RIL (down over 2 per cent), Bajaj Finserv, ICICI Bank, Maruti Suzuki, Tata Motors, Tech M, Bajaj Finance, TCS, ITC, Titan, and SBI were the top Sensex laggards

CLOSING BELL

Stock market highlights: Snapping their three-day winning run, equity markets ended lower on Thursday as investors adjusted their positions amid the weekly F&O expiry. The S&P BSE Sensex fell 542 points, or 0.9 per cent, to close at 59,806 level, while the Nifty50 ended at 17,590, dropping 165 points or 0.93 per cent. 

M&M (down 3 per cent), RIL (down over 2 per cent), Bajaj Finserv, ICICI Bank, Maruti Suzuki, Tata Motors, Tech M, Bajaj Finance, TCS, Kotak Bank, ITC, Titan, and SBI were the top Sensex laggards. On the Nifty, Adani Enterprises (down 5 per cent), SBI Life, Adani Ports, and Eicher Motors were the additional draggers. 

In the broader markets, the BSE MidCap and SmallCap indices succumbed to late sell-off and slipped up to 0.55 per cent. Among sectors, the Nifty Auto index slumped 1.8 per cent; and the Nifty IT, PSU Bank, FMCG, and Realty indices fell 1 per cent each. 

4:12 PM

COMMENT:: US jobs data likely to guide Fed decision making

"The domestic market could hardly hold on to its previous gains as the Fed chair’s reaffirmation of his hawkish statement brought in more worries. In this backdrop, the upcoming US job data will have a substantial impact on the Fed’s policy decisions in its upcoming FOMC meeting. A stronger-than-expected jobs report will prompt the Fed to raise interest rates by 50 bps."

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

4:11 PM

COMMENT:: Nifty OI shifts to 17,700 Put for next week

“The recent rally in Nifty in the last couple of days saw the highest OI on the Put side. The shift from the 17,000 PE level to the 17,500 PE level indicate that traders were confident of 17,500 being the floor for the index for March. The ferocity of today's Market fall has caused this open interest to shift back to the same level of 17,000 PE. Currently, traders are going into next week's expiry with short call positions of 17,700, which has also the highest OI for next week's expiry. The Nifty index is still in a broad sideways range with 17,250 being the bottom-end of the range and the 18,040 level being the upper-end of the range. Until these levels get taken out, we expect to see up and down moves in this 800 point range.”

 

- Rahul Ghose, Founder & CEO – Hedged, an algorithm-powered advisory platform

 

4:06 PM

Jindal Saw hits over 5-year high; zooms 94% in three months on healthy outlook

The company said that the future of the global steel pipe market looks promising with opportunities in oil and gas, water and wastewater, power generation, automotive, and other industrial sectors. READ MORE

4:04 PM

Aptus Value down 13% in two days as it denies merger talks with Cholamandalam

On Monday, the stock price of Aptus had zoomed 19 per cent on report that Cholamandalam Investment and Finance was looking to buy controlling stake in the company. READ MORE

4:02 PM

Olectra Greentech zooms 19%; stock up 68% in 10 trading days

In the past three trading days, Olectra Greentech has rallied 24% after EVEY received two Letter of Awards from the Telangana State Road Transport Corporation for 550 Electric Buses. READ MORE

4:01 PM

Gokaldas Exports dips 3% after 13% equity changes hands via block deal

In early deals, roughly 8.15 million equity shares, representing 13.5 per cent of the total equity of Gokaldas Exports, had changed hands on the NSE. READ MORE

3:58 PM

SeQuent Scientific soars 19% on terminating pact to acquire Tineta Pharma

In November 2022, SeQuent had announced the acquisition of Tineta Pharma for Rs 218 crore but the said transaction has not materialised. READ MORE

3:56 PM

Market Breadth was marginally negative; 155 stocks hit lower circuit

3:54 PM

BSE Smallcap Heatmap:: Deep Inds, Olectra, Sequent zoom up to 20%

3:52 PM

BSE Midcap Heatmap:: Adani Power, Max Health gain; Balkrishna Inds slips

3:47 PM

Broader indices slip in tandem with benchmark Nifty 50; India VIX rises 2%

3:45 PM

Nifty 50 Losers:: Adani Enterprises drops 5%; M&M, SBI Life, RIL declined over 2%

3:42 PM

Nifty 50 Gainers:: Tata Steel, Larsen & Toubro were few of the notable movers

3:39 PM

Sensex 30 Heatmap:: 7 Gainers v/s 23 Losers

3:37 PM

CLOSING BELL:: NSE Nifty50 sheds 165 points, settles at 17,590