Bears rule D-St for 4th day; Sensex tanks 562 pts in broad-based sell-off

All the sectoral indices ended the day in the red with the Nifty Realty, Metal, and PSU Bank indices dropping up to 3 per cent

3:43 PM

Stocks that dragged the Sensex lower today

3:42 PM

Sectoral trends on the NSE at close

3:40 PM

Sensex Heatmap at Close

3:34 PM

CLOSING BELL

At the headline level, the benchmark S&P BSE Sensex ended at 49,802 levels, down 562 points or 1.12 per cent, while the Nifty50 settled at 14,721 levels, down 189 points or 1.27 per cent. In the intra-day trade, the Sensex and the Nifty indices hit a low of 49,719 and 14,696 levels, respectively.

3:26 PM

India got VC investments worth $10 bn last year, 7,000 new startups: report

India got venture capital (VC) investments worth nearly $10 billion in 2020--the highest ever after 2019—when lockdowns to contain the spread of Covid-19 pulled down the economy, said a report on Wednesday.

 

The "India Venture Capital Report 2021" said last year saw continued momentum in consumer tech and software as a service (SaaS). There was also significant fundraising activity with $3 billion raised by India-focused funds: a 40 per cent increase from 2019. This included marquee funds like Sequoia, Elevation Partners, Falcon Edge, and Lightspeed, which closed new funds for India investments despite the pandemic. READ MORE

3:18 PM

Deepak Fertilisers scales 30-month high as promoter hikes stake

The disclosure made by Deepak Fertiliser to the stock exchange reveals that Robust Marketing Services Private Limited, the promoter of the company, acquired 685,872 equity shares worth Rs 13.16 crore through the open market between February 25 and March 13. Post acquisition, Robust Marketing Services Private Limited holding in Deepak Fertilisers increased to 10.25 per cent from 9.58 per cent earlier. READ MORE

3:11 PM

ALERT :: Indices hit day's low

3:05 PM

CBDT may take measures to correct withholding tax anomaly for FPIs

An amendment last year through Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 had inadvertently deleted the special provision for the concessional withholding rate for FPIs on the interest they earn on rupee-denominated bonds issued by Indian firms and government securities. The Central Board of Direct Taxes (CBDT), however, is expected to rectify the same either in the Finance Bill or the I-T Act, said people in the know. READ MORE

2:57 PM

Sensex Heatmap at this hour

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TRAI January data

Net addition at 9.66 million telephone subscribers; up 0.82% MoM

Net additions at 9.64 million wireless subscribers; up 0.84% MoM

Airtel added 59 lakh wireless subscribers

Reliance Jio added 19.56 lakh wireless subscribrs

Vodafone added 17.1 lakh wireless subscribers

2:41 PM

Franklin Templeton MF's six shut schemes generate Rs 15,272 crore

Franklin Templeton Mutual Fund has said its six shut schemes have received Rs 15,272 crore from maturities, coupons and pre-payments since closing down in April 2020.

 

The fund house had shut six debt mutual fund schemes on April 23 last year, citing redemption pressures and lack of liquidity in the bond market. READ MORE

2:30 PM

AT1 cloud likely to hit banks' capital-raising plans, say experts

Thanks to the controversy over Securities and Exchange Board of India’s (Sebi’s) circular on perpetual bonds, commercial banks, especially public sector lenders, are uncertain about their plans to raise about Rs 30,000 crore through additional tier I (AT1) bonds in the next financial year. The exercise was planned to help replace part of the existing bonds that are set to mature soon and to enhance capital profile for growth. READ MORE

2:17 PM

Robust growth trajectory drives gains for Asian Paints

The Asian Paints stock was up nearly 5 per cent in trade on expectations that the company will be a key beneficiary of a growth rebound and gain from the recent fall in crude oil prices. In addition, incremental growth from new businesses such as designer tiles that the company has recently diversified into adds to its revenue stream. READ MORE

2:04 PM

PM-CM meeting on Covid-19 | Request states to impose wearing masks, social distancing more rigorously, says PM

>> He says, more precautions needed to be taken at events where crowds can gather

 

>> Urges states to strengthen clinical management; Test, Track, Treat to be followed & vaccination

1:58 PM

Delta Corp hits 14-month high, surges 36% so far in March

Shares of Delta Corp continued their northward movement in Wednesday's trade as they rallied 8 per cent to hit a 14-month high of Rs 201.95 on the BSE in an otherwise weak market. The stock of the largest gaming company in India was trading at its highest level since January 2020. READ MORE