Sensex snaps 3-day winning run, sheds 317 pts; Banks, realty shares decline

CLOSING BELL: The NSE Nifty 50 slipped 92 points to settle at 17,944. L&T, Hero MotoCorp, UltraTech Cement bucked the trend, while Adani Group shares ended mixed on Friday.

9:08 AM

Pre-Open Session :: Sensex slips 300 pts

9:06 AM

Rupee Opening :: Rupee opens at 82.80/$ vs Thursday's close of 82.72/$

9:03 AM

Large Trade :: Over 7 million shares change hands on NSE, BSE on Pricol's counter

9:00 AM

Adani Enterprises to freeze capital expenditure in new road projects

“We want the current volatility to settle down before we make any new commitments (on capex) and we don’t want our investor community to suffer due to the volatility,” company officials told analysts on Wednesday. READ MORE

8:56 AM

Stocks to watch: HDFC, Ambuja Cements, HAL

HDFC: The company concluded sale of 10-year non-convertible debentures (NCDs) of Rs 25,000 crore, marking the largest domestic rupee bond issuance by a corporate in India. The bonds carry an annualised coupon or the rate of interest periodically paid out to investors — at 7.97 per cent. 

 

Hindustan Zinc: Chief Executive Officer Arun Misra said that the company plans to get in touch with the mines ministry to resolve differences over acquisition of overseas assets of holding company Vedanta. However, valuation of assets is among several concerns flagged by the government. READ MORE

8:53 AM

Indian Oil clarifies on Adani Gas deal after public scrutiny: Report

The response followed a tweet from opposition lawmaker Mahua Moitra, who accused Indian Oil of not following a proper tender process for the agreement. Moitra’s tweet linked to a Feb. 13 report from the Economic Times newspaper, which said the refiner would shift “a large chunk” of LPG imports to the Adani facility at Gangavaram port from the adjacent Visakhapatnam port. READ MORE

8:48 AM

India's January gold imports plunge 76% to 32-month low on subdued demand

Local gold futures jumped to a record high of 57,270 rupees per 10 grams in January, stifling retail demand, which had been expected to improve amid the ongoing wedding season, said a Mumbai-based dealer with a private bullion importing bank. READ MORE

8:45 AM

India's GDP likely to grow at 6.2% in FY24, says Morgan Stanley

The report said that as the economy fully reopened in 2022 leading to a cyclical recovery in consumption, pickup in private capex with healthy balance sheets in the private corporate and financial sector, and acceleration in government capital spending, the world’s fifth largest economy will breach the consensus GDP growth figure of 6 per cent. READ MORE

8:41 AM

WATCH :: Should you buy insurance stocks amid current weakness?

8:38 AM

ALERT :: St. Louis Federal Reserve President James Bullard says inflation "remains too high"

8:33 AM

Trading strategies in Persistent Systems, Wipro

Wipro

Buy Above: Rs 414

 

 

Recently; many of the IT stocks like TECHM, MPHASIS and many others witnessed decent buying traction. However, WIPRO maintained its consolidation within the range of Rs 414 – Rs 400.

 

At this point in time, the stock is on the verge of a breakout from this range. We expect faster momentum above Rs 414. READ MORE

8:28 AM

'Traders can adopt buy-on-dips strategy for Nifty Energy index'

It is important to note that as Relative Strength Index (RSI) is slowly moving higher, this signals that each dip in the index should be considered an opportunity to accumulate for traders and swing players.

 

Therefore, the best trading strategy for short-term and swing traders would be to buy the index on dips, with the expectation of outperformance in the near future. This strategy is supported by the technical indicators, which indicate a bullish trend in the index. READ MORE

8:25 AM

Nandish Shah suggests Bull Spread strategy on M&M Fin

Rationale:

 

>> We have seen long build up in the M&M Finance Futures yesterday, where we have seen 4 per cent addition in Open Interest, with price rising by 1.5 per cent.

 

>> Primary trend of the stock is bullish as it trades above its 50, 100 and 200 day-EMA. READ MORE

 

8:22 AM

Fund Flow :: DIIs buy equities worth Rs 1,577.27 crore on Thursday

8:20 AM

Fund Flow :: FIIs continue to buy Indian equities; Rs 1,570.62 crore pumped in on Thursday