Saturday, December 21, 2024 | 08:31 PM ISTEN Hindi

Sensex slumps 774 pts, Nifty ends below 17900; Auto, FMCG stocks outshine

Closing Bell: Within sectors, the Nifty PSB index tanked 3.6 per cent followed by bank, financial indices. Auto, metals and FMCG pockets closed nearly flat with fractional cuts

SI Reporter New Delhi

Bear market, markets, bse, nse, sensex, nifty

12:23 PM

Fiscal deficit target for FY24 to be kept at 5.8-5.9% in Budget: Report

The Centre is likely to cut its 2023-24 (FY24) fiscal deficit in the range of 5.8-5.9 per cent of the GDP from 6.4 per cent in FY23, news agency Reuters reported on Wednesday. Read here

12:10 PM

Chart: 15 stocks in Nifty 500 continue to rise despite volatile sentiment

Despite the stock market undergoing severe volatility, 15 stocks in Nifty 500 clinched over 10 per cent gains so far in the January 2023. Max Financial Services, Persistent Systems, Swan Energy, Hindustan Copper, and Rajesh Exports are the top gainers surging 25 per cent, 18 per cent, 17 per cent, 16 per cent and 15.50 per cent, respectively. Read here

11:57 AM

Maruti, HUL, Tata Steel sustaining market crash

11:46 AM

India's FY24 gross borrowing could be less than expected: Economists

India's central government's gross market borrowings for 2023/24 could come in below market expectations as a pool of securities raised to compensate states for a shortfall in goods and services tax may not be rolled over, a few economists said. Read here

11:35 AM

Adani stocks drop after Hindenburg accuses firm of manipulation and fraud

Adani Enterprises Ltd. and Adani Ports and Special Economic Zone Ltd. dropped as much as 2.5% and 5% respectively on Tuesday after Hindenburg, an US-based investment research firm that specializes in activist short-selling, made wide-ranging allegations of corporate malpractice following a two-year investigation into the tycoon’s companies. Read more

11:27 AM

MARKET CHECK: Sensex near day's low, sinks over 850 pts

11:12 AM

Zomato plunges 15%, hits lowest level since July 2022 on heavy volumes

Shares of food aggregator platform Zomato plunged 15 per cent, hitting almost six-month low of Rs 44.35, on the BSE in Wednesday's intra-day trade amid heavy volumes. The stock was trading at its lowest level since July 28, 2022. It had hit all-time low of Rs 40.55 on July 27, 2022. Read more

11:01 AM

Rupee gains 20 paise to 81.50 against US currency in morning trade

The rupee rose by 20 paise to 81.50 against the US currency in morning trade on Wednesday following a weak dollar in the global markets. Read more

10:45 AM

MCX Crude oil may find support at Rs 6,400; Natural Gas could test Rs 227

The MCX Crude Oil futures continue to face resistance around the Rs 6,700 hurdle, a level it has been unable to conquer conclusively since mid-November. However, select momentum oscillators have now turned favourable, hence, the commodity could seek support at higher levels as it consolidates. Read here

10:34 AM

TVS Motor gains 3% in weak market on stable Q3 performance

Shares of TVS Motor Company were up 3.4 per cent at Rs 1,019.80 on the BSE in Wednesday’s intra-day trade in an otherwise weak market after the company reported a stable performance, with the company’s standalone operating EBITDA up 16 per cent at Rs 659 crore for the third quarter (October-December) of financial year 2022-23 (Q3FY23). Read here

10:23 AM

MARKET CHECK: Sensex extends slide, down over 500 pts

10:11 AM

MARKET COMMENT: Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The 18200 Nifty has become a major resistance level which is keeping the Nifty iAn the narrow band of 17800-18200. Now, it appears that a major trigger is necessary to break this range either on the upside or the downside. Two major events of February 1st - the Union Budget and the Fed decision on interest rate - have the potential to break this narrow range. A good budget and positive commentary from the Fed can break the upper band. On the contrary, any negative budget proposal like raising the rate of Long Term Capital Gains Tax or a worse-than- expected hawkish Fed can break the lower end of the range. Let’s wait for the actual outcome.

10:06 AM