Rout in Adani group shares, banks drag Sensex 874 pts, Nifty ends at 17,600

Closing Bell: Adani Enterprises and Adani Ports were the leading Nifty losers, which ended 18 and 15 per cent lower, respectively. SBI, ICICI Bank, IndusInd Bank were next in line sinking up to 5%

12:18 PM

HAL, BDL, BEL: Higher defence budget may spark fresh rally in related stks

Shares of defence companies will be in spotlight in the run-up to the Budget 2023, with the hopes of increased spending on domestic manufacturing. Read

12:06 PM

Budget Day Trading Strategy :: How to play Nifty, Bank Nifty?

 NIFTY Strategy: Short term options traders must look for opportunities on the long side after the budget. If all their conditions are met then chances of making money on the long side after the Budget are high.

 

BANK NIFTY Strategy: The volatility is extremely high in Bank Nifty compared to Nifty. Option traders must look for hedged long strategies like Bull Call Spread or Call Ratio Backspread to make the most if Bank Nifty moves up after the Budget. Traders must also keep adequate stoplosses if the movement is not favourable

 

India VIX Strategy: The volatility is on the higher side before the event and it drops lower as the budget unfolds. Option traders must look for adopting an intraday short straddle or short strangle strategy to take benefit of falling VIX. As volatility cools down, we may see a sharp fall in option prices

Views by: Apurva Sheth, Head of Market Perspectives & Research, SAMCO Securities.

12:04 PM

DLF plans to launch Rs 7,500 cr-worth premium housing project in Gurugram

Realty major DLF Ltd plans to launch a luxury housing project in Gurugram next month with an estimated sales revenue of around Rs 7,500 crore as it seeks to tap strong demand for high-end apartments. READ MORE

11:50 AM

COMMENT :: T+1 system augurs well from liquidity perspective

With the shorter trade settlement cycle in the Indian equity market set to be implemented, we will be the the first country in the world to have a T+1 settlement cycle. It augurs well for the Indian equity markets from a liquidity perspective and  it shows how well we have grown on the digital journey to ensure seamless settlements within 24 hours. This will also help the investor in reducing the overall capital requirements with the margins getting released on T+1 day and getting the funds in the bank account within 24 hours of sale of shares. The shift will boost the operational efficiency as the rolling of funds and stocks will be faster.

Views by: Ajay Menon, MD & CEO of Broking & Distribution at Motilal Oswal Financial Services

11:50 AM

Dixon Tech plunges 20% to hit 52-week low on disappointing Q3 results

The management cut FY23 sales guidance to Rs 12,000-Rs 12,500 crore, from Rs 14,000-Rs 14,500 crore guided a few months earlier. READ MORE

11:40 AM

Hindenburg vs Adani: Short selling not shareholder activism, says InGovern

No new facts in Hindenburg report about Adani Group, says corporate governance firm. READ MORE

11:25 AM

Flows to Indian equities are at risk as investors eye China: Chris Wood

Wood believes India remains the best long-term equity story in Asian and the emerging market (EM) context. READ MORE

11:14 AM

ITC gains nearly 3%, hits over two-month high in weak market

Brokerages expect strong growth for ITC's FMCG business led by price hikes, strong traction in discretionary categories (due to high mobility) & strong growth in education & stationary business. READ MORE

10:55 AM

Rupee appreciates by 9 paise to 81.52 against US dollar in opening trade

At the interbank foreign exchange market, the rupee opened higher at 81.51 against the previous close of 81.61 on Wednesday. READ MORE

10:46 AM

Gold, silver prices hike; yellow metal trades at Rs 57,930 per 10 g

The price of 22-carat gold also increased by Rs 400 per 10 grams from yesterday's close, READ MORE

10:35 AM

What really worries Indians about Gautam Adani and his companies

If Adani's companies can deliver a fraction of what he has pledged, then perhaps, in time, they might even grow into the valuations they have already achieved on paper. READ MORE

10:25 AM

Banks under pressure; Nifty Bank, PSU Bank indices crack up to 5% in 2 days

Global broking and research firm CLSA said on Thursday, that the Adani Group poses no "significant downside risk" to Indian banks.. READ MORE

10:15 AM

Tata Motors surges 6%, hits over 4-month high on strong Q3 performance

Tata Motors will benefit from a macro recovery in India, company-specific volume/margin drivers, and a sharp improvement in FCF and leverage in both JLR and India ops, Motilal Oswal said in a note. READ MORE

10:06 AM

Adani Group stocks sink up to 20%; CLSA sees limited risk to banks

Shares of the group's flagship company Adani Enterprises tumbled 6.2 per cent, while those of Adani Green and Adani Total Gas declined 15.5 per cent and 19.6 per cent, respectively. READ MORE

10:00 AM

MARKET COMMENT: Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Data from the US indicate a resilient economy. With 2022 Q4 GDP growth at a better-than-expected 2.9% and jobless claims falling, the hope for a soft landing for the US economy is increasing. Interestingly, this good economic news is now becoming good news for the market unlike earlier when bad economic news turned out to be good news for markets. There is a churn happening in the market now in favour of autos in response to good results from Tata Motors and Bajaj Auto. Adani stocks are likely to continue under pressure due to the fallout from the Hindenburg report. The elevated valuations of Adani stocks are a serious concern.