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.

Traders, brokers, markets, stocks, shares, investments, funds

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		<strong>Stock Market Highlights: </strong>The key benchmark indices wilted under the selling pressure on Friday amid fears of higher interest rates globally. Banks and realty stocks bore brunt of the selling pressure, as the Sensex and Nifty snapped their three-day winning run.</div>
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		The S&P BSE Sensex started the day with a negative gap of over 300 points at 60,994; the index did recoup losses but could only manage to touch a high of 61,303. A fresh round of selling in noon deals, saw the BSE benchmark slide to a low of 60,811 &ndash; down 509 points from the previous day&rsquo;s close.&nbsp;</div>
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		Some buying in late trades helped the Sensex trim losses and end at 61,003, down 317 points. In the process, the BSE index ended the week with a minor gain of 93 points.</div>
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		The Nifty 50 registered a low at 17,885, before settling 92 points lower at 17,944.</div>
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		<strong>Also read: <a href="https://www.business-standard.com/article/markets/record-gold-price-may-not-bring-back-sheen-in-muthoot-manappuram-analysts-123021700162_1.html" target="_blank">Record gold price may not bring back sheen in Muthoot, Manappuram: Analysts</a></strong></div>
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		A vast majority of the Nifty 50 stocks ended in red today. Adani Enterprises was the top loser, down over 4 per cent. Nestle, IndusInd Bank, SBI Life, HDFC Life and Mahindra & Mahindra were the other major losers. On the other hand, Larsen & Toubro gained over 2 per cent. UltraTech Cement, BPCL, Hero MotoCorp and Asian Paints were the other major losers.</div>
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		Broader indices also finished with losses on Friday. The BSE Midcap index dropped 0.8 per cent, while the Smallcap index was down 0.2 per cent. The overall breadth was also negative, with more than 1,900 declining stocks versus 1,500 advancing shares on the BSE.</div>
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		Sectorally, the Realty index was the major loser down nearly 2 per cent. Macrotech Developers, Indiabulls Realestate, Phoenix and Oberoi Realty were the major losers, down 3 - 4 per cent each.</div>
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		The BSE Bankex and IT index also slipped over a per cent each.</div>
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		<strong>Mixed Day for Adani Group Shares</strong></div>
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		Apart from the flagship firm Adani Enterprises, shares of Adani Transmission and ACC also ended in red. On the positive font, Adani Wilmar, Adani Power and NDTV gained 5 per cent each. Ambuja Cements and Adani Green also finished higher.</div>
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		In the broader markets, cement stocks logged smart gains in an otherwise weak market. The buying at these counters was attributed to hopes of an upbeat business outlook by the managements given the government&rsquo;s thrust on infrastructure projects. <a href="https://www.business-standard.com/article/markets/cement-shares-in-focus-ultratech-dalmia-bharat-hit-52-week-highs-123021700264_1.html?1676609967" target="_blank">READ MORE</a></div>
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		Among others, Medanta hit its highest level since listing. The stock has rallied over 50 per cent in the last three months. <a href="https://www.business-standard.com/article/markets/minda-corp-pricol-surge-up-to-6-amid-stake-sale-buzz-123021700201_1.html?1676607695" target="_blank">READ MORE</a></div>
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		IPCA Labs plunged 4 per cent as brokerages reduced their FY24/FY25E earnings per share (EPS) estimates for the company post its weak December quarter results. <a href="https://www.business-standard.com/article/markets/ipca-labs-slips-5-hits-52-week-low-on-weak-december-quarter-results-123021700313_1.html?1676612279" target="_blank">READ MORE</a></div>
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Sensex snaps 3-day winning run, sheds 317 pts; Banks, realty shares decline

Business Standard

Sensex snaps 3-day winning run, sheds 317 pts; Banks, realty shares decline | News on Markets - Business Standard

Commodity check :: Oil prices cool off on Friday

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SGX Nifty suggests likely gap-down start on Dalal Street

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Asian markets :: US weakness spills over to Asia on rate hike concerns

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Wall Street on Thursday :: Indices slip as inflation report, comments from Fed's Bullard raise rate hike fears

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Stay tuned for live updates with Business Standard

Tech View :: 'Bank Nifty in sell mode till it remains below 41,500'

The BANK NIFTY index on the daily chart witnessed a breakdown with a rise in volumes. The index remains in a sell mode as long as it sustains below the level of 41,500. The index immediate support stands at 41,000, and if it fails to sustain it on a closing basis, the downside move towards 40,000 levels.<br />
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<em><strong>Views by:&nbsp;Kunal Shah, Senior Technical Analyst at LKP Securities</strong></em>

Lack of major triggers in the domestic market is attracting global cues to dictate the market trend. The US market is facing an unfavourable combination of higher-than-expected inflation and a stronger job market. The PPI (Producer Price Index) in the US came in at 6.0%, in contrast to the expectation of 5.4%. This suggests that interest rates have not yet peaked and will remain elevated for a long period.<br />
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<em><strong>Views by: Vinod Nair, Head of Research at Geojit Financial Services.</strong></em>
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Tech View :: Near term likely to remain sideways to positive on Nifty if...

The Nifty has fallen to the upper band of the falling channel on the daily chart. The trend for the near term is likely to remain sideways to positive as long as it remains above the falling channel. A recovery towards the higher level will likely happen if the bulls manage to hold the Nifty above 17,880. On the higher end, however, 18,150 is likely to act as resistance.<br />
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<em><strong>Views by:&nbsp;Rupak De, Senior Technical Analyst at LKP Securities</strong></em>

Rupee Closing :: Rupee ends weaker at 82.83/$

&gt;&gt; This is&nbsp;against Thursday&#39;s close of 82.72/$<br />
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Broader market :: BSE MidCap index underperforms peers, falls 0.75%

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Sectoral trends :: Broad-based selling hits Dalal Street; PSU Bank, Realty indices worst hit

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Sensex Heatmap :: 23 of 30 index stocks settle lower; Nestle India, IndusInd Bank fall over 3% each

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CLOSING BELL :: Nifty holds 17,900 at close

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CLOSING BELL :: Sensex snaps 3-day winning streak, slips over 300 pts

&gt;&gt; Index fell nearly 500 pts intra-day to hit a low of&nbsp;60,810.67<br />
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ALERT :: SC examines documents submitted the Centre in sealed cover note in Adani vs Hindenburg case

CJI Chandrachud says:&nbsp;We&#39;d rather not accept the sealed cover suggestions. We want to ensure transparency. In case we take your suggestions from sealed cover, it automatically means the other party won&#39;t know.<br />
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We want full transparency for protection of&nbsp; investors. We will form a committee. There will be a sense of confidence in the court.<br />

PTC Industries hit 10% upper circuit as arm won order from Safran Aircraft

Aerolloy Technologies, a wholly-owned subsidiary of the company has received an order from Safran Aircraft Engines, to develop and supply of Titanium cast components for Aircraft Engines. <a href="https://www.business-standard.com/article/markets/ptc-industries-surges-10-as-arm-wins-order-from-safran-aircraft-engines-123021700580_1.html?1676625532" target="_blank"><strong>READ MORE</strong></a><br />
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Bajaj Steel extends rally on sale of plastic division; stock spurts 13%

Shares of Bajaj Steel Industries hit a 52-week high of Rs 1,098.90, spurting 13 per cent on the BSE in Friday&#39;s intra-day trade, in an otherwise weak market. <a href="https://www.business-standard.com/article/markets/bajaj-steel-extends-rally-on-sale-of-plastic-division-stock-spurts-13-123021700545_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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BSE 500:: Adani Total Gas, Adani Transmission, Voda Idea among top losers

Adani Total Gas down 5 per cent was the top loser among the BSE 500 stocks. Adani Transmission, Vodafone Idea, Tejas Networks and Adani Enterprises, down 4 - 5 per cent each were the other major losers so far on Friday. <a href="https://www.business-standard.com/stocks/market-statistics/bse/top-losers?indices=21552" target="_blank"><strong>VIEW MORE</strong></a><br />
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BSE 500:: TCNS Clothing, Shilpa Medicare, Timken among top gainers

TCNS Clothing up over 14 per cent was the top gainer among the BSE 500 stocks so far on Friday. It was followed by Shilpa Medicare, Timken India, Schaeffler India and Adani Power, up 5 - 8 per cent each. <a href="https://www.business-standard.com/stocks/market-statistics/bse/top-gainers?indices=21552" target="_blank"><strong>VIEW MORE</strong></a><br />
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Stock of this iron & steel products company has zoomed 101% in 6 months

Shares of Surya Roshni hit a 14-month high of Rs 711.35, as they surged 10 per cent on the BSE in Friday&#39;s intra-day trade in an otherwise subdued market. <a href="https://www.business-standard.com/article/markets/stock-of-this-iron-steel-products-company-has-zoomed-101-in-6-months-123021700397_1.html?1676616614" target="_blank"><strong>READ MORE</strong></a><br />
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Defence stocks: HAL poised for a historic peak; BDL, BEL test key levels

HAL sets to hit new all-time and may rise up to 9 per cent. BDL and BEL need to cross key hurdles to breakout. <a href="https://www.business-standard.com/article/markets/defence-stocks-hal-poised-for-a-historic-peak-bdl-bel-halts-at-key-level-123021700342_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Ipca Labs slips 5%, hits 52-week low on weak December quarter results

In Q3, Ipca&#39;s operating profit margin was lowest since FY19, impacted by lower gross margins, and continued higher overheads. <a href="https://www.business-standard.com/article/markets/ipca-labs-slips-5-hits-52-week-low-on-weak-december-quarter-results-123021700313_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Cement shares in focus; UltraTech, Dalmia Bharat hit 52-week highs

Most of the company managements&#39; continue to be positive on the cement demand, led by the government&rsquo;s thrust on infrastructure projects, pick-up in urban real estate, and likely recovery in the rural segment. <a href="https://www.business-standard.com/article/markets/cement-shares-in-focus-ultratech-dalmia-bharat-hit-52-week-highs-123021700264_1.html?1676609967" target="_blank"><strong>READ MORE</strong></a><br />
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Non-BFSI companies' net profits shrink sharply for second quarter

Corporate results for October-December 2022 (Q3FY23) suggest a sharp slowdown in economic activities in non-financial services, including manufacturing. <a href="https://www.business-standard.com/article/companies/non-bfsi-companies-net-profit-contract-for-second-connective-quarter-in-q3-123021601132_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Medanta hits highest level since listing; stock surges 13% in 2 days

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	Meanwhile, for October-December quarter (Q3FY23), Medanta reported its highest-ever quarterly total income of Rs 706.2 crore; growth of 19.0 per cent year-on-year (YoY).</div>
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	For first nine months (April to December) of financial year 2022-23 (9MFY23), Medanta&rsquo;s consolidated total income grew 21.2 per cent year-on-year (YoY) to Rs 2,027 crore.&nbsp; <a href="https://www.business-standard.com/article/markets/medanta-hits-highest-level-since-listing-stock-surges-13-in-2-days-123021700220_1.html?1676607397" target="_blank"><strong>READ MORE</strong></a><br />
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Minda Corp, Pricol surge up to 6% amid stake sale buzz

The promoters have absolutely no intent of undertaking any secondary sale of promoter stake nor does the company have any intent to raising equity capital of any form as the company has strong financial fundamentals and healthy cash profits that will meet the needs of capital for its future growth, Pricol said on clarification of media news. <a href="https://www.business-standard.com/article/markets/minda-corp-pricol-surge-up-to-6-amid-stake-sale-buzz-123021700201_1.html?1676607084" target="_blank"><strong>READ MORE</strong></a><br />
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Comment :: 'Sensible strategy in this volatility is to buy high quality names'

There is a clear pattern to the trends from the mother market, US. Whenever positive news like declining inflation comes, equity markets rise on hopes of a Fed pause and a possible rate cut by end 2023. Conversely, whenever data indicates a robust US economy, tight labour market and very slow disinflation, equity markets fall expecting the Fed to remain hawkish. This see-saw game is likely to continue till clarity emerges on where the economy is headed.<br />
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Nifty is likely to remain in the range 17,800- 182,00. As of now, there are no triggers to break this range in both directions. The only sensible strategy in this volatility is to buy high quality names across sectors during declines.<br />
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<em><strong>Views by:&nbsp;V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services</strong></em>

Broader markets :: Smallcaps eke out tepid gains, others indices in red

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Sectoral trends :: Metal, Media indices defy weakness; IT index down 1%

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Sensex Heatmap :: 8 stocks hold gain, Ultratech, Tata Steel top winners

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Opening Bell :: Nifty holds 17,950 in early deals

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Opening Bell :: Sensex falls 315 pts, tests 61,000

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Pre-Open Session :: Nifty gives up 18,000

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

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Adani Enterprises to freeze capital expenditure in new road projects

&ldquo;We want the current volatility to settle down before we make any new commitments (on capex) and we don&rsquo;t want our investor community to suffer due to the volatility,&rdquo; company officials told analysts on Wednesday. <a href="https://www.business-standard.com/article/companies/adani-enterprises-to-freeze-capital-expenditure-in-new-road-projects-123021601078_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Stocks to watch: HDFC, Ambuja Cements, HAL

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	<strong>HDFC</strong>: 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 &mdash; at 7.97 per cent.&nbsp;</div>
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	<strong>Hindustan Zinc:</strong> 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. <a href="https://www.business-standard.com/article/markets/stocks-to-watch-today-hdfc-ambuja-cements-hal-railtel-corp-rpp-infra-123021700110_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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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&rsquo;s fifth largest economy will breach the consensus GDP growth figure of 6 per cent. <a href="https://www.business-standard.com/article/economy-policy/india-s-gdp-likely-to-grow-at-6-2-in-fy24-says-morgan-stanley-123021601093_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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WATCH :: Should you buy insurance stocks amid current weakness?