RIL, HDFC Bk drag Sensex 790 pts, Nifty below 22K; Voda slides 14%, ZEEL 7%

Stock market highlights on Wednesday, February 28: The BSE MidCap and SmallCap indices declined 1.8 per cent and 1.9 per cent, respectively

3:53 PM

Comment :: What all happened in the markets today?

Indian markets were jittery mirroring weak global markets. Global investors are awaiting the key US economic data like personal consumption expenditure, in anticipation of good forecast there is a fear that Fed rate cut maybe delayed. Turmoil in China's property sector further impacted the Asian market trend. Profit booking weighed on Indian markets, fuelled by concerns about India's Q3 GDP growth potentially slowing to 6.6% from 7.6% in Q2. Rate-sensitive sectors faced pressure, contributing to broader market underperformance, led by FIIs selling

Views by: Vinod Nair, Head of Research, Geojit Financial Services.

3:52 PM

Tech View :: Here is the next support for Nifty50

Nifty underwent a sharp correction during the day amid a strong sell-off. The index dropped below the 22,000 mark, indicating a growing weakness. Nevertheless, it managed to close just above the 21EMA on the daily timeframe.

Observing the daily chart, the index has been navigating within a rising channel. A decline below 21,950 could potentially trigger a correction towards 21,800 in the near term. Conversely, a sustained trade above 21,950 might spur a recovery in the index towards 22,100.

Views by: Rupak De, Senior Technical Analyst, LKP Securities

3:42 PM

Currency check :: Rupee ends 3 paise weaker

3:41 PM

Broader markets :: Mid, SmallCap indices slide 2% each

3:40 PM

Index Contributors :: Stocks that dragged the benchmarks the most

3:39 PM

HEATMAP :: 27 of 30 Sensex, 46 of 50 Nifty stocks settle lower

3:37 PM

CLOSING BELL :: Nifty ends below 22,000

3:36 PM

CLOSING BELL :: Sensex sinks nearly 800 pts

3:27 PM

ALERT :: US FDA issues EIR for Alkem Labs' Mandva unit

>> US FDA inspected Alkem Labs' API manufacturing facility located at Mandva 

>> US FDA has issued an Establishment Inspection Report (EIR) for the said manufacturing facility.

>> The Inspection has been classified as Voluntary Action Indicated (VAI) and was closed accordingly.
 

3:13 PM

ALERT :: KKR said to mull selling stake In JB Pharma, reports Bloomberg

>> KKR & Co. is exploring options including selling its controlling stake in India’s JB Chemicals & Pharmaceuticals Ltd. 

>> The US private equity firm is looking to hire financial advisers to help evaluate a sale of its 53.8% stake in the Mumbai-based company, Bloomberg reported citing sources
 

3:03 PM

Paytm, Apollo Micro, IFCI & 373 other stocks freeze at lower circuits

At 01:21 pm; the S&P BSE Midcap index and the S&P BSE Smallcap index were down 1.7% and 2%, respectively, correcting by up to 4 per cent from their record high levels touched earlier this month. READ MORE

2:52 PM

Global check:: US, UK stock futures dip up to 0.5%

Source: Investing.com

2:43 PM

Sebi mulls relaxing enhanced disclosure framework for certain FPIs

In its consultation paper, the regulator suggested exempting category I university funds and university-related endowments FPI that meet specific criteria from enhanced disclosure requirements. READ MORE

2:38 PM

ALERT :: Tips Industries approves buyback worth Rs 37.18 crore at Rs 625 per share

>> Co to buyback 5.95 lakh shares, representing 24.89% of the total paid-up equity share capital and free reserves, at Rs 625 per share

>> Buyback value at Rs 37.18 crore 

>> Buyback is via tender offer

2:25 PM

Patanjali Foods sheds 5% on SC notice to promoter firm for misleading advts

The Supreme Court on Tuesday issued a contempt notice to Pantanjali Ayurved and its MV Acharya Balakrishna for flouting earlier orders and continuing to propagate false and misleading claims through advertisements. READ MORE