BSE SME cracks 5%, broader indices slip up to 2%; Sensex ends 165 pts up

Market wrap on March 12, 2024: The BSE MidCap and SmallCap indices shed 1.2 per cent and 2.1 per cent, respectively; while the SME index tumbled 4.5 per cent on Tuesday.

9:08 AM

Pre-Open: Sensex off to a flat start

9:03 AM

Currency Check :: Rupee opens 3 paise higher vs US dollar

9:00 AM

Share of women investors in mutual funds grows to 21% in Dec 2023: Report

The share of women folios and assets in B-30 cities has increased from 15 per cent to 18 per cent and from 17 per cent to 28 per cent, respectively, the data showed. READ MORE

8:57 AM

Multicap mutual funds gain currency as investors seek diversification

“A lot of retail money is coming into multicap funds, mostly through systematic investment plans (SIPs). This category is unique as it gives nearly equal exposure to all the three m-cap segments. Given that these segments of the market go through their own market cycles, multicap funds give the true-blue exposure to the complete market,” said Saugata Chatterjee, chief business officer, Nippon India MF. READ MORE

8:54 AM

Sebi plans to implement optional same-day settlement from March 28

At present, the Indian market operates on a T+1 (trade-plus-one-day) settlement cycle, even as most global markets settle trades on a T+2 basis. Foreign portfolio investors (FPIs) had earlier submitted concerns to Sebi regarding the fragmentation of liquidity in the market and urged to wait for the United States to move to a T+1 settlement cycle. READ MORE

8:51 AM

Attractive valuations of city gas distributors after recent price fall

The total CGD demand is flat month on month as the reduction in APM allocation has been offset by higher LNG consumption. January 2024 consumption was 37.5 million metric standard cubic metre per day (mmscmd) vs. 38.1 mmscmd in December last year. READ MORE

8:48 AM

SP group may sell Sterling & Wilson stake, Afcons Infra IPO delayed

Since the pandemic, SPCPL has reduced its consolidated debt to Rs 20,000 crore as of September 2023 from Rs 37,170 crore as of August 2020 by selling Eureka Forbes to Advent, a private equity firm, and a stake in SWRE to Reliance New Energy. READ MORE

8:44 AM

India's biggest stock winner Tata Investment has no analyst coverage

Tata Investment Corp. has soared 116 per cent so far in 2024, the most among the Nifty 500 Index companies that represent more than 94 per cent of India’s market capitalisation. The stock has led a $58 billion rally in Tata Group companies since the start of the year, with about a fifth of it coming last week alone, driven by expectations of Tata Sons’ initial public offering next year. READ MORE

8:40 AM

Fund Flow :: DIIs buy equities worth Rs 3,238.39 crore on Monday

8:36 AM

Fund Flow :: FII/FPIs buy equities worth Rs 4,212.76 crore on Monday

8:32 AM

ALERT :: Gift Nifty up 34 points at 22,456

Gift Nifty

8:28 AM

Stocks to Watch on Mar 12: ITC, M&M, RK Swamy, RVNL, Triveni Engg, Wipro

ITC: British American Tobacco Plc is preparing to kick off a sale of part of its stake in ITC as soon as this week, as per The Economic Times. The company has been speaking with Bank of America Corp. and Citigroup Inc. about a potential divestment of around $2 billion to $3 billion in ITC through block deals.
 

M&M: Its February production rose 26 per cent to 73,380 units from last year(YoY). Sales too grew 26.2 per cent to 71,384 units compared to 56,551 units last year. However, its exports dropped 31.6 per cent to 1,539 units. READ MORE

8:24 AM

Charts suggest downtrend for Nifty Financial, Nifty PSU Bank: How to trade?

It's also suggested to stay in cash until the index approaches the mentioned support levels. This cautious approach aims to capitalize on potential downward movements while avoiding unnecessary exposure during a corrective phase. READ MORE

8:21 AM

Record-breaking bitcoin is minting more than 1,500 'millionaire wallets' a day

>> Bitcoin's latest rally to all-time highs is helping push over 1,500 wallets past the million-dollar mark each day, Kaiko Research reported.

 

>> So far this year, the trend peaked at 1,691 wallets on March 1. 

>> Since the beginning of this month, bitcoin has gained another 16%, extending a bull run that first kicked off in mid-January, when regulators approved spot bitcoin ETFs to begin trading in the US. 

 

>> Bitcoin's new-found success may be indicative that the cryptocurrency is here to stay as a mainstream investment, Rockefeller International Chair Ruchir Sharma wrote for the Financial Times.

Source: Agencies

8:18 AM

Fed officials to signal interest rate cuts are getting closer

>> Eight months after raising interest rates to a two-decade high, Federal Reserve Chair Jerome Powell and his colleagues are moving closer to dialing back their inflation fight.

 

>> In congressional testimony last week, Powell emphasized the central bank needs “just a bit more evidence” inflation is headed toward its 2% target before lowering borrowing costs. “We’re not far from it,” he said.

Source: Bloomberg