Sensex gyrates 744 pts, ends 361 pts down; Nifty below 17K; HUL, ITC shine

CLOSING BELL: For better part of the day, equity markets roiled in global rout as fears of a contagion banking sector failure soured sentiment

11:54 AM

Tata Consumer dips 2% after withdrawing plans to acquire Bisleri

Shares of Tata Consumer Products (TCPL) dipped 2 per cent to Rs 693.05 on the BSE in Monday’s intra-day trade after the Tata Group company ceased negotiations with Bisleri for a potential acquisition. READ

11:40 AM

3 Adani group stocks out of ASM, Should you be bullish?

Adani Enterprise, Adani Power and Adani Wilmar may rise up 35 per cent upon conquering key hurdles. READ

11:28 AM

UBS takes over Credit Suisse: Everything you need to know about the crisis

Credit Suisse crisis: Swiss government said it would provide $9 bn to help UBS meet the possible losses while taking over Credit Suisse, and Swiss National Bank will provide $100 bn of liquidity. READ

11:16 AM

Banking crisis triggers oil price fall; temporary phenomenon, say analysts

The 10 per cent fall in crude oil prices in the last 7 days – from $80.6 per barrel (Brent oil) on March 13 to $72.4 now – is likely to be temporary, believe analysts, who expect them to bounce back once the banking sector crisis in the US and Europe is fully contained. READ

11:05 AM

Credit Suisse's 9,000 job cuts are foretaste of UBS takeover amid crisis

The merger creates significant overlaps. The two lenders together employed almost 125,000 people at the end of last year, with about 30% of the total in Switzerland. READ

10:53 AM

US banking crisis: Key interest rates suggest RBI may go slow on tightening

The fall in OIS rates mirrored a decline in the 10-year US bond yield, which plunged close to 40 bps after the collapse of SVB. READ

10:43 AM

India to splurge $12 bn on airports in next two years as travel rebounds

The world's fastest-growing aviation market aims to boost the number of airports to 220 by 2025 from the current 148, for which private builders will invest about $9 billion. READ

10:33 AM

Indian rupee, bond yields await Fed Reserve's policy move for cues

The move could bring early relief to the market when they open on Monday. The rupee non-deliverable forwards market signalled a slightly weaker rupee on open. READ

10:20 AM

Sunflag Iron up 15% in two days on acquiring 11.89% stake in Lloyds Metals

LMEL on March 16, converted and allotted the 0% 60 million OFCD's in to 60 million equity shares, representing 11.89% in the total voting equity share capital of LMEL to Sunflag Iron. READ MORE

10:13 AM

Cochin Shipyard gains 7% in weak market on winning Rs 550 cr overseas order

The company has received an order of Rs 550 crore from Norway-based global logistics solution provider Samskip Group. READ

10:02 AM

MARKET CHECK :: Indices at day's low

>> S&P BSE SENSEX: 57,360.44, down 629.46 points or 1.09%

>> NIFTY50: 16,906.35, down 193.70 points or 1.13%

>> S&P BSE MidCap: 23,843.58, down 268.43 points or 1.11%

>> S&P BSE SmallCap: 26,926.26, down 241.48 points or 0.89%

9:55 AM

Will the markets regain lost glory in March despite volatility?

Historically, March has been a volatile month for the Indian equity markets. For starters, it marks the end of a financial year, wherein there is some compulsive portfolio rebalancing trade by large funds, both domestic and foreign. Retail investors, too, prefer to 'cash-in' on their gains and losses before the financial year runs out. READ MORE

9:45 AM

Comment :: 'Global crisis seems contained but investors may wait for stability'

The fears of financial contagion rising from the banking crisis in US and Europe appear to be largely contained by the quick response of the governments and central banks. The big learning from the global financial crisis of 2008 is that failure of large financial institutions will lead to systemic issues leading to financial contagion and ultimately to recession. Learning from this crisis, this time there has been a concerted global action - the latest being the buyout of Credit Suisse by UBS - to contain the crisis. The volatility index in the US at around 25 doesn’t indicate any panic like in 2008. However, investors may remain cautious and wait for stability. The boost to India’s macros arising from reduction in trade deficit and big decline in Brent crude to $73 are positives from the market perspective.

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

 

9:39 AM

Kenvi Jewels freezes at 5% upper circuit on stock split decision

The board has approved for stock split of company's 1 equity share of face value of Rs. 10 each into 10 equity shares of face value of Rs 1 each, along with the issuance of bonus issue of equity shares in proportion of 1 equity share for every 4 equity shares.

9:38 AM

Cochin Shipyard leaps over 4% as it wins order worth Rs 550 crore

The Company won a Rs 550 crore order for zero emission feeder container vessels from Samskip Group.