CLOSING BELL: Maruti Suzuki, Kotak Bank, SBI, HDFC, Axis Bank, Titan, Bajaj Finance, HDFC Bank, ICICI Bank, Nestle India, and RIL were the top Sensex laggards, falling in the range of 1 - 1.4 per cent

MARKET LIVE: Sensex near day's low, down 300 pts; Nifty below 17,850

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	<strong>CLOSING BELL</strong></div>
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	<strong>Stock market highlights: </strong>Sell-off engulfed equity markets in the second half of the session with banking and financial services stocks taking the deepest plunge. The S&P BSE Sensex index fell 311 points, or 0.5 per cent, to settle at 60,692, while the Nifty50 index gave up 17,850-mark to close at 17,845, down 100 points or 0.56 per cent.</div>
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	Maruti Suzuki, Kotak Bank, SBI, HDFC, Axis Bank, Titan, Bajaj Finance, HDFC Bank, ICICI Bank, Nestle India, and RIL were the top Sensex laggards, falling in the range of 1 per cent to 1.4 per cent. Tech M, Ultratech Cement, Power Grid, and Infosys, meanwhile, lent some support.&nbsp;</div>
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	In the broader market, the S&P BSE MidCap and SmallCap indices outperformed the benchmarks as they fell 0.12 per cent and 0.16 per cent, respectively.</div>
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	Individually, shares of <strong>Cipla</strong> dipped 7 per cent to Rs 956.20 on the BSE in Monday&#39;s intra-day trade after the company said that the United States Food and Drug Administration (USFDA) issued Form 483 with 8 observations after the inspection of its Pithampur manufacturing facilities. <a href="https://www.business-standard.com/article/markets/cipla-dips-7-after-pithampur-unit-receives-8-usfda-observations-123022000173_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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	Shares of <strong>Samvardhana Motherson</strong> International (SAMIL), on the flipside, surged 6 per cent at Rs 84.20 on the BSE in Monday&#39;s intra-day trade after the company announced the acquisition of 100 per cent stake of SAS Autosystemtechnik GmbH, Germany (SAS) at an enterprise value of &euro; 540 million(around Rs 4,800 crore). The transaction will be funded by a mix of debt and internal accruals. <a href="https://www.business-standard.com/article/markets/samvardhana-motherson-soars-6-on-german-based-sas-autosystemtechnik-buyout-123022000223_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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	Among sectoral indices, the Nifty PSU Bank index fell over 1 per cent, followed by the Nifty Bank, Financial Services, Private Bank, and Realty indices dipped 0.9 per cent each. The Nifty IT index, on the other hand, gained 0.54 per cent.&nbsp;</div>
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MARKET LIVE: Sensex gains 100pts, Nifty50 above 17,950; Adani Power up 5%

Business Standard

MARKET LIVE: Sensex gains 100pts, Nifty50 above 17,950; Adani Power up 5% | News on Markets - Business Standard

Global update :: US stock futures remain tepid on rate hike fears

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Good morning, readers! Stay tuned for live updates with Business Standard

Stay tuned for live updates with Business Standard

Are the markets ignoring the possibility of higher inflation?

Globally, too, sticky inflation seems to be a cause for concern. Last week, two Federal Reserve (US Fed) officials suggested that the US central bank may need to keep interest rates elevated ahead. <a href="https://www.business-standard.com/article/markets/are-the-markets-ignoring-the-possibility-of-higher-inflation-123022000637_1.html?1676885481" target="_blank"><strong>READ MORE&nbsp;</strong></a><br />
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NMDC's demerged Chhattisgarh unit hits 5% upper circuit on market listing

Under the Scheme of Arrangement, NMDC Iron &amp; Steel Plant at Nagarnar, Chhattisgarh demerged from NMDC into NMDC Steel. The former had issued one equity share of Rs 10 each of NMDC Iron &amp; Steel Limited for every one equity share of face value of Rs 10 each to shareholders of NMDC. <a href="https://www.business-standard.com/article/markets/nmdc-s-demerged-chhattisgarh-unit-hits-5-upper-circuit-on-market-debut-123022000270_1.html?1676870356" target="_blank"><strong>READ MORE</strong></a><br />
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Cipla sheds 6% after Pithampur unit receives 8 USFDA observations

The company said it will work closely with the USFDA and is committed to address these comprehensively within stipulated time. <a href="https://www.business-standard.com/article/markets/cipla-dips-7-after-pithampur-unit-receives-8-usfda-observations-123022000173_1.html?1676866379" target="_blank"><strong>READ MORE</strong></a><br />
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Sensex 30 Heatmap:: 12 Gainers v/s 18 Losers

CLOSING BELL:: S&P BSE Sensex ends 311 points lower at 60,692; sheds almost 600 pts from day's high

ALERT :: US President Joe Biden makes a surprise visit to Kyiv

Market Check: Sensex extends fall, down nearly 400 points

BSE 500:: Shilpa Medicare, Cipla, Adani Group among top losers

Shilpa Medicare down over 6.5 per cent was the top loser among the BSE 500 stocks. Cipla, Adani Enterprises, Adani Total Gas and Adani Transmission, down 5 - 6 per cent each were the other major losers so far on Monday. <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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	<img align="left" alt="chart" class="imgCont" height="389" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-02/20/full/1676882079-0743.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="620" /></div>
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Lumax Auto soars 12% as it acquires majority stake in IAC Group's India biz

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	IAC India is a well-established Tier-1 interior systems and components supplier to key automotive OEMs in India including Mahindra, Maruti Suzuki, Volkswagen and Volvo Eicher Commercial Vehicles. <a href="https://www.business-standard.com/article/markets/lumax-auto-to-acquire-majority-stake-  in-iac-group-s-india-biz-stk-up-12-123022000494_1.html?1676880376" target="_blank"><strong>READ MORE</strong></a><br />
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		<img align="" alt="Illustration: Ajay Mohanty" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-09/27/full/1632681743-2937.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Markets, Sensex, Nifty, Stock markets" width="620" /></div>
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BSE 500:: Sumitomo Chemicals, Sonata, Star Health among top gainers

Sumitomo Chemicals up over 9 per cent was the top gainer among the BSE 500 stocks so far on Monday. It was followed by Sonata Software, Star Health Insurance, Cera Sanitaryware and Equitas Small Finance Bank, up 7 - 9 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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Charts indicate robust bias for RIL, ONGC amid GST inclusion hopes

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	At the 49th GST council meeting, the Finance Minister Nirmala Sitharaman stated petroleum products such as petrol and diesel could be included under the Goods and Service Tax (GST) regime once the states government agree to it. She also added, GST council members need to finalize a rate before petroleum products are added under GST. <a href="https://www.business-standard.com/article/markets/charts-indicate-robust-bias-for-ril-ongc-amid-gst-inclusion-hopes-123022000369_1.html" target="_blank"><strong>READ</strong><br />
	<img alt="Illustration: Ajay Mohanty" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-10/16/full/1665937400-3372.jpg?im=Resize,width=640" /></a></div>

Sonata Software surges 26% in one month; stock nears record high

Shares of Sonata Software continued at their northward movement, hitting a fresh 52-week high of Rs 739, as they rallied 9 per cent on the BSE in Monday&#39;s intra-day trade amid heavy volumes. The stock of the information technology (IT) company surpassed its previous high of Rs 689.95, touched on February 16. <a href="https://www.business-standard.com/article/markets/sonata-software-surges-26-in-one-month-stock-nears-record-high-123022000339_1.html?1676873081" target="_blank"><strong>READ</strong><br />
<img alt="Sonata Software surges 26% in one month, stock nears record high" src="https://bsmedia.business-standard.com/_media/bs/img/article/2015-08/05/full/1438782909-8026.jpg?im=Resize,width=640" /></a>

NMDC's demerged Chhattisgarh unit hits 5% upper circuit on market debut

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	A combined, around 7.5 million equity shares had changed hands and there were pending buy orders for 19 million shares on the NSE and BSE till 10:16 AM. <a href="https://www.business-standard.com/article/markets/nmdc-s-demerged-chhattisgarh-unit-hits-5-upper-circuit-on-market-debut-123022000270_1.html?1676871644" target="_blank"><strong>READ</strong><br />
	<img alt="steel company, steel firms, ArcelorMittal, JSW Steel" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-02/19/full/1676817940-8267.jpg?im=Resize,width=640" /></a></div>

Samvardhana Motherson soars 6% on German-based SAS Autosystemtechnik buyout

The acquisition made through Samvardhana Motherson Automotive Systems Group B.V., Netherlands, a step-down subsidiary of SAMIL. SAS is a leading global provider of assembly and logistics services for the automotive industry. SAS had revenue of &euro; 896 million (i.e. ~Rs 7,950 crore) with EBITDA at &euro;102.7 million (i.e. ~Rs 910 crore, margins at 11.5 per cent) in CY22. <a href="https://www.business-standard.com/article/markets/samvardhana-motherson-soars-6-on-german-based-sas-autosystemtechnik-buyout-123022000223_1.html?1676868611" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-09/08/full/1662646298-5203.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="" width="620" /></div>
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Key support for MCX Gold stands at Rs 55,900

The MCX Gold and Silver futures are seen testing support at the key moving averages on the daily and weekly scale. The immediate support level for MCX Gold April futures stand at Rs 55,930, which is the 50-DMA; Similarly, Silver futures is testing support at its 100-DMA placed at Rs 64,400. <a href="https://www.business-standard.com/article/markets/key-support-for-mcx-gold-stands-at-rs-55-900-silver-rs-64-400-123022000160_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Cipla dips 7% after Pithampur unit receives 8 USFDA observations

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	USFDA conducted a current Good Manufacturing Practices (cGMP) inspection at the company&rsquo;s Pithampur manufacturing facility from 6th - 17th February, 2023, Cipla said in an exchange filing.</div>
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	On conclusion of the inspection, the company has received 8 inspectional observations in Form 483. The company will work closely with the USFDA and is committed to address these comprehensively within stipulated time, Cipla said. <a href="https://www.business-standard.com/article/markets/cipla-dips-7-after-pithampur-unit-receives-8-usfda-observations-123022000173_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Comment :: 'Negative impact of Adani issue appears to be behind us'

There is a growing concern that the equity markets are ignoring the risk of high inflation which is declining only very slowly. Comments from some Fed officials that they might have to remain hawkish for an extended period of time and might support even a 50 bp rate hike in the March Fed meet are negative for equity markets.<br />
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In India, it appears that the period of sustained selling by FIIs is over and they have started buying on some days. The negative sentimental impact of the Adani issue appears to be behind us. The likely hawkish stance from the Fed will restrain the rally in the US market and this will also keep the Indian market in a range, attracting selling at higher levels and buying at lower levels.<br />
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Valuations of the leading banking names, large-cap IT and capital goods companies are reasonable now and may be accumulated on declines.<br />
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<em><strong>Views by:&nbsp;Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services</strong></em>

Adani stocks largely weak even as Group formulates comeback strategy

The ports-to-power conglomerate helmed by Adani &mdash; who used to be Asia&rsquo;s richest person &mdash; is hoping to claw back the narrative with this playbook and calm jittery investors and lenders after US-based Hindenburg Research on Jan. 24 accused it of accounting fraud, stock manipulation and other corporate governance lapses. The Adani Group denies these allegations. <a href="https://www.business-standard.com/article/companies/hindenburg-effect-adani-maps-comeback-strategy-after-132-billion-rout-123022000072_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Broader indices ::MidCap index underperforms peers; SmallCap index in-line with benchmarks

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Sectoral trends :: Healthcare Index down 1%, Auto Index outrun

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Sensex Heatmap :: Wipro, Nestle, Bajaj Finance top losers; Airtel, Ultratech rise

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Opening Bell :: Nifty opens with a mild downtick

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Opening Bell :: Sensex off to a muted start

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Pre-Open Session :: Sensex gains over 100 pts

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Rupee Opening :: INR opens higher at 82.69/$ vs Friday's close of 82.83/$

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FPIs shift focus back on Indian market; invests Rs 7,600 cr in a week

&quot;As the markets began to recover from the Adani shock, the flows from FPIs also improved, suggesting their renewed interest in the prospects of the Indian equity markets,&quot; Himanshu Srivastava, Associate Director - Manager Research at Morningstar India, said. <a href="https://www.business-standard.com/article/markets/fpis-shift-focus-back-on-indian-market-invests-rs-7-600-cr-in-a-week-123021900129_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Over the past three months, FMCG stocks have cornered the highest FPI flows at $1.7 billion, according to an analysis by IIFL Alternative Research." class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-09/09/full/1631131342-2948.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="FPI Flows" width="620" /></div>
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Hindenburg effect: Adani maps comeback strategy after $132 billion rout

Adani and his aides have been in damage repair mode ever since. Besides a campaign to portray themselves as responsible borrowers with prepayments and on-time payments of debt, executives have also kicked off a series of meetings to pacify overseas bondholders, who were tapped by the tycoon for more than $8 billion funding in recent years. <a href="https://www.business-standard.com/article/companies/hindenburg-effect-adani-maps-comeback-strategy-after-132-billion-rout-123022000072_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Banks, RIL drag Sensex 311 pts down, Nifty below 17,850; Adani Ent falls 6%

CLOSING BELL: Maruti Suzuki, Kotak Bank, SBI, HDFC, Axis Bank, Titan, Bajaj Finance, HDFC Bank, ICICI Bank, Nestle India, and RIL were the top Sensex laggards, falling in the range of 1 - 1.4 per cent

Global update :: US stock futures remain tepid on rate hike fears

Good morning, readers! Stay tuned for live updates with Business Standard