CLOSING BELL: Selling in heavyweights like SBI (down 2 per cent), HCL Tech, Infosys, Reliance Industries, HDFC Bank, HDFC, and ICICI Bank weighed on the benchmarks

Sensex snaps 2-day winning run, slips 289pts; Nifty below 17100; banks fall

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			<strong>CLOSING BELL</strong></div>
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			<strong>Stock market highlights:</strong> Equity markets staged a U-shaped trade on Thursday as investors juggled between the US Federal Reserve&#39;s interest rate decision, and weekly F&O expiry. Globally, the US Fed&nbsp; hiked rates by 25 basis points on Wednesday, but signalled just one more hike this calendar year. However, US Treasury Secretary Janet Yellen said that regulators are not looking to provide any &quot;blanket&quot; deposit insurance to stabilise the US banking system, without working with lawmakers.</div>
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			Given this, the S&P BSE Sensex settled near the day&#39;s low level of 57,839, at 57,925, down 289 points or 0.5 per cent. The Nifty50, too, ended at 17,077, down 75 points or 0.44 per cent.&nbsp;<a href="https://www.business-standard.com/topic/buzzing-stocks" onclick="window.open(this.href, '', 'resizable=no,status=no,location=no,toolbar=no,menubar=no,fullscreen=no,scrollbars=no,dependent=no'); return false;"><br />
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			<strong>Check today&#39;s buzzing stocks</strong></a></div>
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			Selling in heavyweights like SBI (down 2 per cent), Kotak Bank, HCL Tech, Infosys, Reliance Industries, HDFC Bank, HDFC, and ICICI Bank weighed on the benchmarks. Elsewhere, realty, energy, and PSU bank stocks kept broader markets in check.</div>
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			The BSE MidCap and SmallCap indices fell 0.45 per cent, and 0.15 per cent.&nbsp;</div>
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Business Standard

Sensex snaps 2-day winning run, slips 289pts; Nifty below 17100; banks fall | News on Markets - Business Standard

US stocks head south after Powell's inflation warning

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	Wall Street wavered to end sharply lower on Wednesday after the US Federal Reserve delivered a 25 basis point policy hike - with Chair Jerome Powell both hinting that the Fed was on the verge of pausing future increases and reiterating that the central bank remained firm on fighting inflation even as the banking crisis was set to hit the economy.<br />
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Good morning readers! Catch all live market updates here with Business Standard

Catch all live market updates here with Business Standard

Global Surfaces makes stellar debut; soars 22% premium over issue price

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	It earns 99% of its revenues from overseas markets like US, Canada and the Middle East. Segment wise, engineered quartz make for 83% of its revenue while natural stones make for 17%. <a href="https://www.business-standard.com/article/markets/global-surfaces-makes-stellar-debut-  lists-at-17-premium-over-issue-price-123032300312_1.html?1679550441" target="_blank"><strong>READ MORE</strong></a><br />
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Hindustan Aeronautics sheds 5% as govt offloads partial stake via OFS

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	The government will be offloading 3.5 per cent stake in the company through an Offer for Sale at Rs 2,450 per share from March 23 - 24, 2023. <a href="https://www.business-standard.com/article/markets/hindustan-aeronautics-tumbles-6-on-  pricing-ofs-at-discount-123032300195_1.html?1679544178" target="_blank"><strong>READ MORE</strong></a><br />
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Infosys nears 52-week low; stock slips 12% in one month on growth concerns

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	Following recent developments around bankruptcy of Silvergate, SVB and Signature Bank in the US and UBS-CS merger will likely lead to further curtailing of discretionary tech spends in the near term. <a href="https://www.business-standard.com/article/markets/infosys-nears-52-week-low-stock-slips-  12-in-one-month-on-growth-concerns-123032300406_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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		<img align="left" alt="chart" class="imgCont" height="407" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-03/23/full/1679567409-9666.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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VA Tech Wabag rallies 6.5%, hits 3-month high on strong growth outlook

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	The company has won a design, build and operate (DBO) order in Bangladesh worth Rs 800 crore, fully funded by World Bank &amp; AIIB. <a href="https://www.business-standard.com/article/markets/va-tech-wabag-rallies-7-hits-3-month-  high-on-strong-growth-outlook-123032300300_1.html?1679550217" target="_blank"><strong>READ MORE</strong></a><br />
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CLOSING BELL:: S&P BSE Sensex ends 289 points lower at 57,925

Star Cement soars 11%, nears 52-week high on heavy volumes

The long-term demand prospects remain positive given the government&#39;s thrust on the affordable housing and infrastructure segments, ICRA said. <a href="https://www.business-standard.com/article/markets/star-cement-soars-11-nears-52-week-high-on-heavy-volumes-123032300622_1.html?1679562237" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="A Kolkata-registered company, SMPL owns limestone reserves, a key cement input, in Madhya Pradesh and is planning to come up with a cement unit there" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-10/28/full/1666978698-0552.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="cement, construction, infrastructure, realty" width="620" /></div>

Tega Industries rallies 8%, hits 52-week high on strong growth prospects

Last month, National Company Law Tribunal (NCLT) approved Tega&#39;s Resolution Plan for the acquisition of McNally Sayaji Engineering through Corporate Insolvency Resolution Process (CIRP). <a href="https://www.business-standard.com/article/markets/tega-industries-rallies-8-hits-52-week-high-on-strong-growth-prospects-123032300531_1.html?1679558321" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="markets, bull market, bull, sensex, nifty, market" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-05/20/full/1621495266-8152.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="markets, bull market, bull, sensex, nifty, market" width="620" /></div>
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Following recent developments around bankruptcy of Silvergate, SVB and Signature Bank in the US and UBS-CS merger will likely lead to further curtailing of discretionary tech spends in the near term. <a href="https://www.business-standard.com/article/markets/infosys-nears-52-week-low-stock-slips-12-in-one-month-on-growth-concerns-123032300406_1.html?1679556182" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Infosys" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-04/08/full/1617877079-2632.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Infosys" width="620" /></div>
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Anil Agarwal weighing Vedanta stake sale as last resort, says report

Agarwal is evaluating the possibility of divesting a less than 5% stake in the Mumbai-listed company, said the people, who asked not to be identified as the information is private. <a href="https://www.business-standard.com/article/companies/anil-agarwal-weighing-vedanta-stake-sale-as-last-resort-says-report-123032300352_1.html?1679552443" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Vedanta" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-04/12/full/1618168593-3103.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Vedanta" width="620" /></div>
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Bajaj twins hit new lows every month since November 2022; weakness persists

Every reversal in Bajaj twins is expected to face sell-off, until key levels are not conquered, with aggressive volumes. <a href="https://www.business-standard.com/article/markets/bajaj-twins-hit-new-lows-every-month-since-november-2022-selling-continues-123032300345_1.html?1679552269" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Bajaj Finance" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-07/27/full/1658917862-0655.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Bajaj Finance" width="620" /></div>
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Global Surfaces makes stellar debut; lists at 17% premium over issue price

The stock listed 17 per cent higher at Rs 164 per share on NSE as against the issue price of Rs 140 apiece. <a href="https://www.business-standard.com/article/markets/global-surfaces-makes-stellar-debut-lists-at-17-premium-over-issue-price-123032300312_1.html?1679550809" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="BSE" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-08/10/full/1660137712-3482.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="BSE" width="620" /></div>
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Nazara Tech jumps over 3% on buying majority stake in Pro Football Network

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	Brokerage firm ICICI Securities has a &#39;Buy&#39; rating on the stock with a target price of Rs 700 per share. <a href="https://www.business-standard.com/article/markets/nazara-tech-jumps-over-3-on-buying-majority-stake-in-pro-football-network-123032300252_1.html?1679549316" target="_blank"><strong>READ</strong><br />
	<img alt="Documents reviewed by Business Standard showed that the finance ministry and the RBI have expressed concern over lack of a framework for regulating online gaming with stakes" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-04/11/full/1649615741-3281.jpg?im=Resize,width=640" /></a></div>

L&T extends gains, up 3% in three days on securing orders worth Rs 9,500 cr

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GR Infra jumps over 4% after it emerges L-1 bidder for Rs 872 cr project

In the past one week, shares of this construction firm gained 1.7 per cent, as against 0.2 per cent rise in the S&amp;P BSE Sensex. <a href="https://www.business-standard.com/article/markets/gr-infra-jumps-over-4-after-it-emerges-l-1-bidder-for-rs-872-cr-project-123032300258_1.html?1679547449" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="The Parliamentary Standing Committee on Commerce has observed that a massive shortfall in the budgetary allocation of over Rs 1,900 crore by the finance ministry to the industry department" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-04/13/full/1649788996-603.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="infrastructure, construction, infra" width="620" /></div>
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Sectoral check :: Broad-based selling seen in early deals

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Sensex Heatmap :: Heavyweights like RIL, HDFC duo, TCS weigh on the index

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Opening Bell :: Sensex declines 250 pts amid Powell's slowdown warning

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ALERT :: 'Do Not Exercise' facility for options trades to be discontinued from March 2023 F&O expiry, says NSE

&gt;&gt; Those unable to square off trades will have to settle trades with shares, as per reports

Pre-Open Session :: Nifty slips below 17,100

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Currency check :: Rupee opens stronger at 82.38/$ vs Tuesday’s close of 82.66/$

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US Federal Reserve raises policy rate by 25 bps; 9th straight hike

&quot;The Committee anticipates that some additional policy firming may be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 per cent over time. In determining the extent of future increases in the target range, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments&quot;, the statement added. <a href="https://www.business-standard.com/article/international/us-federal-reserve-raises-policy-rate-by-25-bps-9th-straight-hike-123032201392_1.html" 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/2022-09/21/full/1663779323-4405.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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