Wednesday, December 25, 2024 | 01:18 AM ISTEN Hindi

MARKET WRAP: Sensex slips 214 pts, Nifty ends at 11,251; pharma, IT advance

All that happened in markets today

SI Reporter New Delhi

Mumbai Police's Economic Offences Wing fresh notices to 300 NSEL brokers

11:01 AM

NEWS ALERT | Zydus Cadila receives final approval from the USFDA for tablets used for HIV tratement: BSE filing

>> Zydus Cadila has received final approval from the USFDA to market Emtricitabine and Tenofovir Disoproxil Fumarate Tablets, 200 mg/300 mg and tentative approval for the strengths of 100 mg/ISO mg, 133 mg/200 mg, and 167 mg/250 mg, ofthe same drug.

>> Co says: It helps to decrease the amount of HIV in the body so the immune system can work better. This will be manufactured at the group’s manufacturing facility at SEZ, Ahmedabad.

10:56 AM

NEWS ALERT | Supreme Court quashes complete ban on cryptocurrency: CNBC TV18

>> RBI's ban on banks to deal with cryptocurrency set aside by SC

10:54 AM

Market check

10:53 AM

Rate cut losing its potency as an instrument to stimulate growth: Analysts

Deepak Jasani, Head Retail Research, HDFC Securities

Basically, rate cut as an instrument is losing its potency. Despite so many rate cuts, growth resurrection has not happened across the globe. So, central banks and governments have to think about fiscal stimulus to stimulate growth rather than just rate cuts. Easy liquidity and rate cuts are not helping in their traditional purpose. READ MORE

10:47 AM

NEWS ALERT | SBI Cards IPO fully subscribed; total subscribed at 1.7x till 10:30 am

10:43 AM

Coronavirus scare: Market crash is a buying opportunity, says history

The latest selloff in the market on account of the coronavirus scare could be a good buying opportunity if history is an indication. On six of nine occasions when the market has corrected more than 10 per cent, it has recouped all its losses within two months, shows an analysis by ICICI Direct, the retail broking arm of ICICI Securities. READ MORE

10:34 AM

NEWS ALERT | India February Services PMI at 57.5 vs 55.5 (MoM); highest since Jan 2013

-- India Feb Composite PMI at 57.6 vs 56.3 (MoM)

10:27 AM

Market check | Sensex slides over 100 pts as 15 new coronavirus cases emerge in Delhi

10:21 AM

Antony Waste Handling Cell IPO opens today. Is it worth your money?

The Mumbai-based Antony Waste Handling Cell's initial public offer (IPO) opens today, which will stay live till March 6. The company, which is among India's top five municipal solid waste management players, plans to raise Rs 206 crore via the offer. The company will offer fresh shares worth Rs 35 crore with 57 lakh equity shares under Offer For Sale (OFS) category for reduction of the aggregate consolidated outstanding borrowings of the company, and for general corporate purposes. READ MORE

10:12 AM

Aviation shares under pressure; SpiceJet hits 52-week low, IndiGo slips 4%

Shares of aviation companies were under pressure on Wednesday, falling upto 8 per cent on the BSE, on concerns that the industry may face risks from the coronavirus outbreak. Among individual stocks, SpiceJet slipped 8 per cent to Rs 68.60, its lowest level since October 11, 2018 on the BSE. Thus far in calendar year 2020 (CY20), the stock has tanked 39 per cent, as compared to 6 per cent decline in the S&P BSE Sensex in the same period. READ MORE

10:08 AM

Gold Comment :: Hareesh V, Head of Commodity, Geojit Financial Services

Gold may edge higher further as investors sought safety in gold amid concerns over the global economic slowdown. As coronavirus is now spreading faster outside China and US Fed’s emergency rate cut roiled financial markets, the demand for safe assets like gold will increase.

Technical outlook: As long as prices stay above $1560 expect buying momentum to continue with stiff resistance is seen at $1660 followed by $1700. A close below $1545 is required to negate the bullish outlook and take prices lower.