Sensex leaps 446 pts, Nifty tops 17,100 as RIL, Bajaj Fin gain 3%; IT slips

CLOSING BELL: The market breadth was firmly in the favour of buyers as the broader markets, too, rose in tandem with the benchmark indices

10:27 AM

Arbitrage funds back in favour as market volatility boosts returns

Interest in low-risk equity products of mutual fund schemes see interest after extended period of outflows READ MORE

10:15 AM

UTI AMC surges 8% after PPFAS MF buys 1.1 million shares via block deal

UTI AMC is promoted by four PSU sponsors, who collectively own 45.16 per cent. Bank of Baroda, State Bank of India and Life Insurance Corporation of India hold 9.98 per cent each, while PNB holds 15.22 per cent stake. US-based T. Rowe Price International holds another 22.97 per cent stake, the shareholding pattern data shows. READ MORE

10:04 AM

ALERT :: L&T wins 'major' work order in the range of Rs 5,000-7,000 cr; stock up 1%

9:54 AM

Comment :: 'FIIs' net short position is at record high'

Fears of contagion in the global banking system is causing the nervous selling in vulnerable banking stocks and strength in gold is indicative of the flight to safety. Fears of banking contagion hitting equity markets have aggravated FII selling, which has reached a cumulative Rs 11,757 crores in the last 11 days. FIIs' net short position is at record highs indicating negative expectations. Even though the current texture of the market is sell on rallies, the huge short position may trigger a short-squeeze if the Fed decides to pause in the meeting tomorrow. Tomorrow’s Fed decision and commentary will be crucial.

Views by: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

9:42 AM

Midcaps witness profit booking at higher levels; Biocon, Bharat Forge, Mphasis top laggards

9:39 AM

JKumar Infraprojects up 2% as JV receives LoA from Bangalore Metro Rail Corporation

The company’s joint venture J Kumar-AICPL received the letter of acceptance from Bangalore Metro Rail Corporation for the construction of airport depot for Bangalore Metro Rail Project for a contract cost of Rs 182.34 crore

9:37 AM

Biocon hits fresh 52-week low; stock down nearly 45% in 1 year

9:36 AM

Dwarikesh Sugar advances 2.3% on dividend bounty

The company’s board approved an interim dividend of Rs 2 per share of face value Rs 1 for FY23 with an outgo of Rs 37.66 crore. The record date for the dividend will be March 31, 2023.

9:33 AM

HDFC AMC rallies over 2% after GQG Partners sells partial stake

As per reports, SBI Mutual Fund has bought 47.33 lakh shares in the AMC via open market transactions amounting to Rs 757.4 crore. However, GQG Partners Emerging Markets Equity Fund sold 24.78 lakh shares in HDFC AMC worth Rs 396.83 crore.

9:32 AM

Uno Minda stock gains as company to acquire stake in Kosei Minda Aluminum, Kosei Minda Mould

The company will acquire 81.69 per cent stake in Kosei Minda Aluminum Company and 49.9 per cent stake in Kosei Minda Mould from joint venture partner Kosei, Japan in share swap deals to consolidated four-wheeler alloy business.

9:30 AM

Adani Enterprises clarifies on Mundra Petchem project; stock up over 1%

The company clarified that the green PVC project in Mundra has been held up on account of financial closure pending with the lenders. The same is expected to be cleared within six months, it said in a statement.

9:28 AM

Sterling and Wilson RE jumps over 5% on emerging as successful bidder for a solar project

The company emerged as the successful bidder for a package comprising of four blocks of 300 MW each in the proposed 1200MW Solar PV Project of NTPC Renewable Energy at Khavda RE Power Park, Rann of Kutch. The total bid value, including operation and maintenance for three years, will be Rs 2,100 crore.

9:26 AM

RIL gains muscle as govt cuts windfall tax

Windfall tax on crude petroleum has been reduced to Rs 3,500/tonne from Rs 4,400/tonne, while the special additional excise duty on diesel has been hiked to Rs 1 per litre from Rs 0.5 a litre.

ONGC up 0.23%, Oil India down 0.86%

9:23 AM

Broader markets in green; SmallCap index up 0.5%, MidCap 0.2%

9:22 AM

Sectoral trends :: Defensives on backfoot, IT worst hit