Sensex gives up 51K amid broad-based sell-off, dips 435 pts; PSBs, auto hit

The Nifty PSU bank index ended as the top laggard on the NSE, down 4.7 per cent, after surging nearly 6 per cent each over the past two days

2:40 PM

Decisive break above Rs 47k needed for meaningful upside in gold: Rahul Gupta, Emkay Global

There is a negative correlation between gold and US bond yields. The selling pressure in gold is on hopes that US and global growth will recover more quickly as vaccines roll out. Also, the fears that additional fiscal stimulus will increase inflation are keeping US yields higher. So with yields rising and technical levels under fire, the fall may continue. MCX gold prices continue to trade with a negative bias. And the bearish outlook for the counter will stay until prices trade below 47000. Bounce will face resistance until then and prices will slip towards 45525/45110/44800 areas. A decisive break above 47000 is required for the bulls to make any meaningful comeback.

2:33 PM

U-Turn! Nifty PSU Bank index erases gains, turns worst sectoral perfomer

2:31 PM

Stock of this packaged foods company has zoomed 208% in six months

Shares of Hindustan Foods hit a new high of Rs 2,286, rallying 10 per cent on the BSE in intra-day trade on Friday in otherwise weak market. In the past one week, the stock of packaged foods company has gained 24 per cent after reporting the highest quarterly revenues and profit after tax (PAT) in its history for the quarter ended December 2020 (Q3FY21). READ MORE

2:23 PM

MARKET UPDATE:: Nifty gives up 15k; India VIX up 5%

2:19 PM

MARKET UPDATE:: Sensex extends losses, tumbles over 500 pts

2:08 PM

European markets check

European shares edged higher on Friday as an upbeat earnings report from Hermes boosted confidence in a broader economic recovery, although the benchmark STOXX 600 was set to snap a two-week gaining streak on concerns about a rise in inflation.

The pan-European index was up 0.1 per cent, with Hermes shares jumping 5.7 per cent as the Birkin bag maker said sales recovered sharply in the fourth quarter. The stock was among the biggest gainers on the STOXX 600 and helped lift the European personal goods index by 0.7 per cent. 

Still, the STOXX 600 was set to end the week nearly flat following three straight sessions of declines as optimism around a better-than-expected earnings season gave way to fears that rising inflation could lead central banks to start tapering a raft of stimulus packages.

 

All eyes later in the day will be on flash readings of business activity data from across the euro zone.

(-- via Reuters)

2:00 PM

Butterfly Gandimathi announces interim dividend of Rs 1.50/share

- March 3, 2021 has been fixed as the record date for the payment of said dividend

1:52 PM

Poly Medicure gains 6% on successful fund raising via QIP issue

Shares of medical equipment maker Poly Medicure rose 6 per cent to hit a new high of Rs 689 on the BSE in Friday’s intra-day trade after the company successfully raised Rs 400 crore through qualified institutional placement (QIP) route. In the past one week, the stock has rallied 16 per cent, as compared to a nearly 1 per cent decline in the S&P BSE Sensex. READ MORE

1:43 PM

Elon Musk says bitcoin is slightly better than holding conventional cash

Tesla Inc CEO Elon Musk on Thursday said that owning bitcoin was only a little better than holding conventional cash, but that the slight difference made it a better asset to hold. "However, when fiat currency has negative real interest, only a fool wouldn't look elsewhere," Musk said in a tweet. READ MORE

1:33 PM

Nifty sectoral indices at this hour

1:25 PM

NEWS FLASH :: Poly Medicure raises Rs 400 crore via QIP

The QIP committee at its meeting held today, i.e February 19, 2021, approved allotment of 76,33,587 equity shares of face value Rs 5 each to eligible qualified institutional buyers at the issue price of Rs 524 per share, aggregating to Rs 400 crore, the company said in an exchange filing. 

1:17 PM

Bitcoin nears $1 trillion market value as crypto jump tops stocks, gold

Bitcoin is closing in on a market value of $1 trillion, a surge that’s helping cryptocurrency returns far outstrip the performance of more traditional assets like stocks and gold. The largest token has added more than $415 billion of value in 2021 to about $956 billion, data compiled by Bloomberg show. The Bloomberg Galaxy Crypto Index, which includes Bitcoin and four other coins, has more than doubled. READ MORE

1:02 PM

Future Retail pays interest on 5.60% senior secured notes

- The company in an exchange filing said that on 18th February, 2021, it has made the payment of interest for the half year ended for an amount of $14 million on 5.60% senior secured notes due 2025.

 

- The company had initiated a grace period of 30 days on January 22, 2021 to pay the said interest 

12:56 PM

Stocks that hit 52-week high on BSE today in an otherwise volatile market

Company	PRICE(rs)	52 WK HIGH	CHG(%)
A B B	1596.15	1633.75	3.77
Adani Enterp.	813.00	830.85	0.65
Adani Ports	668.55	676.70	0.67
Advanced Enzyme	401.60	416.50	2.53
Bank Of Baroda	96.25	99.80	0.68

12:41 PM

NEWS FLASH :: Muthoot Finance board approves raising Rs 6,000 crore

Muthoot Finance at their meeting held today has considered and approved fund raising to the tune of Rs 6,000 crore by way of private placement of redeemable non-convertible debentures to be issued in one or more tranches. 

 

(Source: BSE filing)