As per provisional closing data, the barometer index, the S&P BSE Sensex declined 326.23 points or 0.55% to 58,962.12. The Nifty 50 index lost 88.75 points or 0.51% to 17,303.95. In eight consecutive session, the Sensex slipped 3.84% while the Nifty fell 4.06%.
The broader market outperformed the key domestic barometers. The S&P BSE Mid-Cap index advanced 0.60% while the S&P BSE Small-Cap index rose 0.40%.
The market breadth was almost even. On the BSE, 1,736 shares rose and 1,717 shares fell. A total of 137 shares were unchanged.
Investors look ahead to the gross domestic product data of the fourth quarter of 2022, to be released later today.
Stocks in Spotlight:
Tata Steel declined 1.93%. The Committee of Directors (COD) on 27 February 2023, approved the allotment of 2,15,000 fixed rate, unsecured, redeemable, rated, listed, NCDs having face value Rs 1 lakh each aggregating to Rs 2,150 crore, for a tenor of 5 years, to identified investors on private placement basis.
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Bharti Airtel fell 1.28%. The telecom major has crossed the 10 million unique 5G user mark on its network. Airtel was the first service provider to roll-out 5G services in the country in October 2022. Today, Airtel 5G Plus is available across all states in the country.
NHPC jumped 3.39% after the company said that the Cabinet Committee on Economic Affairs has accorded investment approval for the implementation of Dibang Multipurpose Project (MMP) in Arunachal Pradesh. The estimated cost is Rs 31,876.39 crore, including budgetary support of Rs 6,159.40 crore towards flood moderation component and Rs 556.15 crore towards Enabling infrastructure (i.e. roads/ bridges etc.).
Vodafone Idea rose 2.10%. The company said that its board has allotted 12,000 optionally convertible debentures of the face value of Rs 10 lakh each, aggregating to Rs 1,200 crore, to ATC Telecom Infrastructure. The company further said that the balance 4,000 number of OCDs shall be allotted upon receipt of application form and subscription money and due intimation of the same shall be filed as necessary.
Adani Ports and Special Economic Zone surged 4.98% after the company said that its step down subsidiary, Adani Agri Logistics (AALL) has incorporated a wholly owned subsidiary in the name of PU Agri Logistics.
Shree Cement added 0.60% after the cement maker announced that it has been emerged as the highest bidder for Datima Coal Mine Block at Surajpur Tehsil in Surguja district, Chattisgarh. The cement major emerged as highest bidder under fifteenth tranche of auction of coal block conducted by Ministry of Coal, Government of India on 27 February 2023. The mine has geological reserves of 13.30 million tonnes.
NTPC fell 1.31%. The state-run power major said that it declared commercial operation of first unit of 660 megawatt (MW) capacity of North Karanpura Super Thermal Power Station (3x660 MW).
Happiest Minds Technologies rose 0.44%. The company announced that its board will consider fund raising through issuance of non-convertible debentures (NCDs) in domestic market, in one or more tranches on Thursday 2 March 2023. The IT solutions provider added that its board of directors will also consider the issue of commercial papers in domestic market, in one or more tranches as on the same date.
Rain Industries added 1.19%. The compnay reported a consolidated net profit of Rs 89.52 crore in Q4 CY22 as against a net loss of Rs 96.96 crore posted in Q4 CY21. Revenue from operations jumped 35.54% to Rs 5,456.81 crore in the quarter ended 31 December 2022 from Rs 4,026.05 crore recorded in the same period last fiscal.
Vesuvius India tumbled 10.19% after the company's net profit declined 23.41% to Rs 27.64 crore on 1.46% decrease in revenue from operations to Rs 346.19 crore in Q4 CY22 over Q4 CY21.
Global Markets:
Shares in Europe declined while Asian stocks advanced on Tuesday as investors digested key economic data across the region.
Japan recorded its worst decline in factory output in eight months, recording a 4.6% drop in January compared to December.
Japan's retail sales surged 6.3% for January compared to the same period last year.
Hong Kong will end its mask mandate for indoors and outdoors on Wednesday, 1 March 2023.
US stocks rose on Monday amid bargain hunting following the worst week of the year on Wall Street. All three major US indexes closed higher, with the Nasdaq Composite leading gains.
The Dow Jones Industrial average rose 72.17 points or 0.22%, while the S&P 500 and Nasdaq Composite gained 0.31% and 0.63%, respectively.
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