Sensex slips 251 pts ahead of inflation data; SBI, IT shares fall

CLOSING BELL: The NSE Nifty 50 ended 86 points lower; Broader indices log deeper cuts. Adani Group shares fall again.

8:27 AM

Stocks to watch: M&M, Nykaa, SAIL, Sun Pharma

Earnings today: SAIL, Nykaa, Power Finance Corporation, Gujarat Gas, Castrol India, Campus Activewear, GR Infraprojects, Borosil Renewables, Zee Entertainment, among others will report the October-December quarter (Q3FY23) results.
 

M&M: The automaker is likely to roll out its first electric vehicle from Zaheerabad plant in Telangana by 2024. The management said that the manufacturing facility will be utilised for new product development and new electric vehicles. Both e-autos and e-Jeeto will be manufactured in the plant. READ MORE

8:24 AM

Tech View :: Charts suggest positive breakout likely for Nifty IT index

Nifty IT

 

As the index trades at 30,870.20, it is on the verge of a positive breakout as it hovers near the key level of 31,255. A close above this level would signal a bullish trend, with traders having the potential to reap significant rewards in the form of a sharp rally in the index and its constituents. READ MORE

8:21 AM

Sebi board likely to take up Adani stock rout at its meet this week

Union Finance Minister Nirmala Sitharaman’s customary post-Budget meeting with the Securities and Exchange Board of India (Sebi) — on February 15 — is likely to touch upon the recent rout in shares of the Adani group. The minister will address Sebi’s board on the same day. READ MORE

8:19 AM

Fund Flow : DIIs sell equities worth Rs 291.34 crore on Friday

8:18 AM

Fund Flow :: FIIs buy equities worth Rs 1,458.02 crore on Friday

8:16 AM

Commodity check :: Brent crude cools off 1%, hovers above $85 per barrel

8:15 AM

Hindenburg effect: Adani Group cuts revenue growth target, capex amid rout

The group will now shoot for revenue growth of 15% to 20% for at least the next financial year, down from the 40% growth originally targeted, Bloomberg reported. Capital expenditure plans will also be scaled down, they said, as the group prioritizes bolstering its financial health over aggressive expansion. READ MORE

8:13 AM

SGX Nifty hints at tepid start

8:11 AM

Global Update :: Asia markets fall as investors await economic data releases in week ahead

8:10 AM

Global Update :: Wall Street ends mixed on Friday

8:03 AM

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

Stay tuned for live market updates with Business Standard