Wednesday, January 01, 2025 | 05:23 PM ISTEN Hindi

Sensex tanks 461 pts, Nifty below 18,300 amid global rout; all sectors fall

CLOSING BELL: Among sectors, the Nifty PSU Bank index sunk the most, down nearly 3 per cent. This was followd by losses in the Nifty Realty, Pharma, and Media indices, down over 1 per cent each

SI Reporter New Delhi

8:52 AM

Channel Check :: Cement

>> Overall demand from the exit of Sept’22 has been weak. It was impacted in Oct’22 due to an extended monsoon and labor shortages (owing to festivities and holidays).

>> Dec’22 has seen some positive movement compared to Oct’22 and Nov’22, owing to increased infrastructure development activities.

>> Companies hiked prices in some pockets of India in Oct’22 & Nov’22 and expect another hike towards the end of Q3FY23. In terms of demand, Q3FY23 so far has been below dealers’ expectations, but with cost pressures expected to ease in the coming quarters for the industry and margins bottoming out in Q2FY23, higher exit of cement prices and pick-up in construction activities would pave the way for a relatively better 3QFY23.

Source: Nirmal bang

8:47 AM

Stocks to watch: Wipro, Vedanta, HPCL, RIL

Wipro: The IT services company inked multi-year digital transformation partnership with fintech firm Finastra for corporate banks in the Middle East. With this partnership, the company will be the go-to market to deploy Finastra's trade finance solutions in the region and transform the way corporate banks operate.

Vedanta: A fire broke out in Vedanta’s plant in Bokaro district in Jharkhand, where four workers associated with ESL steel, a Vedanta group firm were injured. According to reports, all the injured persons who are residents of neighbouring West Bengal, were admitted to the Bokaro General Hospital. The incident took place when the workers were engaged in maintenance work. READ MORE

8:45 AM

F&O Call: Nandish Shah recommends Bear Spread strategy in HAL

BEAR SPREAD strategy on HAL

Buy HAL (29-Dec Expiry) 2600 PUT at Rs 51 & simultaneously sell 2500 PUT at Rs 19

Lot Size 475 READ MORE

8:42 AM

Fund Flow :: DIIs buy equities worth Rs 260.92 crore on Thursday

8:40 AM

Fund flow :: FIIs sell equities worth Rs 710.74 crore on Thursday

8:38 AM

CURRENCY MARKET :: Rupee ends weaker on Thursday, hovers near 83/$

Source: Bloomberg

8:36 AM

ALERT :: Centre slashes windfall tax on crude oil sharply to Rs 1,700/tonne

The Centre has been revising the windfall tax almost every two weeks since it was introduced on July 1. At that time, the Centre levied duties of Rs 6 per litre ($12 per barrel) each on petrol and ATF and Rs 13 a litre ($26 a barrel) on diesel. A Rs 23,250 per tonne ($40 per barrel) windfall profit tax on domestic crude production was also levied. READ MORE