Sensex jumps 243 pts on late buying, Nifty reclaims 18,000; RIL gains 2%

CLOSING BELL: The BSE Sensex gained more than 600 points from the day's low; Tech Mahindra, Bharti Airtel and auto shares were the other major gainers on Wednesday.

9:07 AM

Pre-Open Session :: Nifty holds 17,900

9:03 AM

Rupee Opening :: INR opens weaker at 82.88/$ vs Tuesday's close of 82.76/$

8:59 AM

Hindenburg effect: Trading volumes rose amid rout in Adani Group shares

The rout in Adani Group stocks has set options prices for two of its firms – Adani Enterprises and Adani Ports & SEZ – on a wild run in recent weeks. Besides, banking stocks and the Bank Nifty index also witnessed higher-than-usual volatility as investors feared contagion risk from the troubles at the Adani Group. These factors attracted a lot of traders to these counters, say market observers. READ MORE

8:56 AM

ALERT :: European parliament votes to bans new petrol and diesel cars from 2035 onwards

8:52 AM

WATCH :: What are Adani saga’s lessons on improving investor protection?

8:49 AM

Rs 40-trillion MF industry braces for industry-wide forensic audit

In a first, the Securities and Exchange Board of India (Sebi) has invited Expression of Interest (EoI) for empanelment of forensic auditors, specifically for MFs. READ MORE

8:46 AM

Bonds recoup losses after inflation shock as long-term players step in

At current levels, overnight indexed swap rates, which are a direct reflection of interest rate expectations, suggest another 25 bps hike by the RBI. The one-year OIS rate settled at 6.90 per cent on Tuesday, indicating a terminal repo expectation of 6.75 per cent, traders said. READ MORE

8:43 AM

Life insurance companies plan strategy tweak to offset tax impact

Union Budget has proposed to tax high-value policies with premium aggregating to Rs 5 lakh per year to plug arbitrage that HNIs are using to get tax-free returns on policies through Section 10(10D) READ MORE

8:41 AM

ESG's most influential gatekeeper MSCI readies verdict on Adani Group firms

As of now, MSCI gives Adani Green Energy Ltd. a rating of A, its third-highest, and the entity is included in several of its ESG and Climate indexes. So is Adani Total Gas Ltd., also rated A. Those ratings haven’t changed since Hindenburg Research published its report on the Indian conglomerate Jan. 24, MSCI said in an email, noting that its indexes and ratings divisions operate independently. The index provider declined to comment on any future changes. READ MORE

8:38 AM

Air India seals world's largest aircraft deal at $70 bn, orders 470 planes

In a statement, US President Joe Biden called the Boeing-Air India deal a “historic” one.

 

Biden said: “This announcement also reflects the strength of the US-India economic partnership. Together with Prime Minister Modi, I look forward to deepening our partnership even further as we continue to confront shared global challenges — creating a more secure and prosperous future for all of our citizens.” READ MORE

8:36 AM

Vodafone Idea Q3 results: Net loss widens 10.5% to Rs 7,990 crore

Gross revenue in the third quarter of FY23 increased by 9.2 per cent YoY to Rs 10,620 crore while earnings before interest, tax, depreciation and amortisation (Ebitda) grew 9.5 per cent to Rs 4,180 crore. Average revenue per user (ARPU) improved to Rs 135 up 3 per cent quarter-on-quarter from Rs 131 in Q2 of FY23 READ MORE

8:33 AM

Stocks to watch: Eicher Motors, Voda Idea, Siemens, Bharat Forge, ONGC

Eicher Motors: The two-wheeler major posted a bigger-than-expected 62.4 per cent year-on-year (YoY) jump in the December quarter (Q3FY23) profit, helped by higher motorcycle sales. Sales of Royal Enfield, which generates most of Eicher's revenue, jumped 31 per cent to 2.1 lakh units. 
 

Siemens: The company clocked 85 per cent YoY rise in consolidated net profit at Rs 462.7 crore in Q3FY23, on the back of higher revenues. In the year-ago period, net profit of the company stood at Rs 250 crore. Total income, meanwhile, rose to Rs 4,116.8 crore Q3FY23 from Rs 3,480.9 crore in Q3FY22. READ MORE

8:31 AM

Nifty charts suggest upward bias likely in the near-term

Volumes on the NSE continued to be subdued and broader indices rose less than the Nifty despite lower advance decline ratio at 0.52:1. While Nifty has closed at the highest level since January 24, it has formed a bullish ascending triangle type of pattern in the process. It could now stay between 17,824-18,027 band for the near term, with an upward bias. READ MORE

8:28 AM

Ravi Nathani is bearish on Nifty Auto index in the near-term

Nifty Auto

Last close: 13,106.55 (Bearish)

 

With a current market price of 13,106.55, the index is expected to trade within a certain range, with strong support at 13,000 level. This level will serve as a crucial pivot point for all bullish positions, as a close above this level would signal a bearish breakout, with the target expected to reach 12,700. READ MORE

8:25 AM

ALERT :: SBI hikes lending rates by 10 bps across tenures