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

4:08 PM

TECHNICAL VIEW: Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

The Nifty opened on a negative note on January 25 & tumbled down sharply as the day progressed. It breached the key daily moving averages on the way down. The larger structure, however, shows that the index is still in the range, which it has been witnessing for last one month. It recently tested the upper end of the range & thereon it has tumbled down towards the lower end i.e. 17800-17760. This zone has been acting as a strong support & is likely to provide support this time as well. Thus unless the level of 17760 breaks, the Nifty can witness recovery within the short term range.

4:05 PM

MARKET COMMENT: Vinod Nair, Head of Research at Geojit Financial Services

Indian equities witnessed significant sell-off as the market appeared apprehensive ahead of the upcoming Union Budget and Fed meeting next week. Sentiments were dampened by persistent FII selling, where funds are being shifted to other EMs as a result of attractive valuations. Furthermore, a weak economic growth outlook that stoked recession fears pulled down global markets.

3:59 PM

Over 1,100 stocks advanced, while 2,390 declined

3:55 PM

Adani Ports, SBI, IndusInd Bank top Nifty50 laggards

3:50 PM

Bajaj Auto, HUL, Hindalco top Nifty50 leaders

3:45 PM

Broader markets bleed; India VIX jumps 7%

3:40 PM

All sectors drown in the sea of red, PSU Bank index worst hit

3:37 PM

SENSEX HEATMAP: 8 out of 30 index constituents close in green

3:33 PM

CLOSING BELL: Nifty50 closes below 17,900 levels, down 200pts

3:32 PM

CLOSING BELL: Sensex falls over 750 points

3:25 PM

India's first-ever green bond auction gets better-than-expected yield

The five-year bond was sold at a cut-off yield of 7.10% versus 7.13% estimate. READ MORE

3:15 PM

Cipla Q3 net profit rises 7% to Rs 808 cr on accout of robust sales

Drug major Cipla on Wednesday reported a 7 per cent increase in its consolidated net profit to Rs 808 crore for the third quarter ended December 2022, aided by robust sales. READ MORE

3:07 PM

Timing of Hindenburg report is curious; market reaction overdone: Analysts

The sharp fall in Adani group stocks following a report by a well-known US activist investor Hindenburg Research LLC that said it was shorting them presents a good opportunity to buy these stocks lower from a long-term perspective, said analysts, who suggest that the market’s reaction to the report is overdone. READ MORE

3:00 PM

Earnings Alert: Cipla Q3 net rises 10%; stock slips 3%

Cipla reported a 9.9 per cent growth in Q3 net profit at Rs 801 crore for the quarter ended December 2022 as against Rs 729 crore in the corresponding quarter a year ago. Total income was up 6 per cent YoY at Rs 5,810 crore.

2:52 PM

Pidilite Industries dips 3%, hits six-month low on disappointing Q3 results

Shares of Pidilite Industries hit six-month low of Rs 2,300, falling 3.5 per cent on the BSE in Wednesday's intra-day trade, after the company reported 14.3 per cent year-on-year (YoY) decline in consolidated profit after tax (PAT) at Rs 308 crore, due to higher raw material and interest cost. READ MORE