Sensex swings 728 pts intraday, ends 90 pts up ahead of US Fed outcome

Stock market highlights on March 20: In the broader markets, the BSE MidCap and SmallCap indices ended mixed. The former added 0.05 per cent, but the latter shed 0.14 per cent

2:23 PM

ALERT:: Sarda Energy board okays Upendra Prasad Singh's appointment; stock trades in red

Sarda Energy in an exchange filing said the company's board approved the appointment of Upendra Prasad Singh as Additional Director with effect from 20th March 2024. 

2:07 PM

Top Canadian pension funds invest $438 million in Indian highways trust

Two big Canadian pension funds invested a total of C$595 million ($438.3 million) in India's National Highways Infra Trust (NHIT) this week, dialling up their bets on the poll-bound South Asian country's booming infrastructure sector. READ

1:46 PM

KRBL, Prestige Estates: Seen exiting oversold zone; Ready for pullback?

Stocks across-the-board have witnessed a significant correction in recent trading sessions amid valuation worries, and uncertainty over the timing of US interest rate cuts.
 

The NSE benchmark Nifty 50 has declined 3 per cent from its recent high, while the broader indices - the Nifty MidCap 150 and SmallCap 250 have shed 7.4 per cent and 10.1 per cent, respectively. READ

1:22 PM

BGR Energy hits over 3-year low; stock tanks 68% in one month

Shares of BGR Energy Systems hit an over three-year low of Rs 38.11, down 4 per cent on the BSE in Wednesday’s intra-day trade extending its month-long fall. In the past one month, the stock tanked 68 per cent from its 52-week high of Rs 119.48 that it touched on February 20. Read

1:09 PM

Rekha Jhunjhunwala-owned stock zoomed 12% today; what's fuelling the rally?

Rekha Jhunjhunwala-backed Metro Brands was ruling higher in Wednesday's weak session. At the bourses, shares of the footwear retailer soared 12.2 per cent to Rs 1,158 apiece on the BSE in in the intraday trade amid healthy volumes. READ

12:54 PM

Froth remains in select PSU stocks; Q4, a test for sustainable financials

Shares of public sector enterprises have corrected up to 22 per cent month to date till March 19, 2024. Analysts attribute this steep fall to the a valuation exhuberence seen after a sharp run in these counters in the last one year, and suggest investors remain selective as regards to the stocks in this space. READ

12:40 PM

Investor desire for buybacks, dividends highest in 9 years: BofA Securities

Investor's desire for companies to prioritize returning cash to shareholders via share buybacks, dividends and mergers and acquisitions (M&A) hit the highest level since July 2015, suggests the latest BofA Securities (BofA) survey. Nearly 30 per cent of the respondents surveyed by BofA Securities wanted the companies to do so. READ

12:23 PM

This electrical equipment stock has catapulted over 8000% in 4 years

Shares of CG Power and Industrial Solutions jumped 5 per cent on BSE to Rs 501.20 in Wednesday’s intra-day trade on heavy volumes. The stock of the Murugappa Group company is just shy of its record high of Rs 501.75 touched on November 23, 2023. Read

12:01 PM

JPMorgan sees foreign investors flocking to Indian stocks after LS polls

Indian equities are poised to lure more foreign inflows after the general elections, with the economy’s promising growth prospects and the Federal Reserve’s rate cuts acting as catalysts.

 

That’s the view from Rajiv Batra of JPMorgan Chase & Co., who says global funds’ positioning in India’s $4.3 trillion stock market remains light and investors will use any correction as an opportunity to increase holdings. Read

11:46 AM

Sapphire Foods at new high; soars 18% in 4 days as large funds raise stake

Shares of Sapphire Foods India rallied 6 per cent on BSE to hit a record high of Rs 1,616 in Wednesday’s intra-day trade on expectations of a healthy outlook of its KFC franchise.
 

In the past four trading days, the stock of the restaurant company has surged 18 per cent. It has surpassed its previous high of Rs 1,565.30 touched on September 11, 2023. READ

11:29 AM

RIL, BPCL: Nifty below 50-DMA; Key levels to watch on stocks below this DMA

The Nifty 50, on Tuesday, broke below its 50-DMA (Daily Moving Average) for the first time in the last four months, thus in a way signaling that that the short-term trend may have reversed for the NSE benchmark. Read

11:13 AM

Cryptoverse: Artificial intelligence tokens outpace record-breaking bitcoin

The artificial intelligence boom has hit the crypto market with a bang. Coins linked to AI-focused crypto projects have jumped alongside tech stocks like Nvidia, driven by insatiable investor appetite for applications like machine-learning. Read

10:55 AM

Maruti Suzuki hits new high in subdued market; stock zooms 20% in 2 months

Shares of Maruti Suzuki India (MSIL) hit a new high of Rs 11,936.35, gaining 3 per cent on the BSE in Wednesday's intraday trade, in an otherwise subdued market on a healthy business outlook. The stock of automobile major surpassed its previous high of Rs 11,725, touched on March 5, 2024. In comparison, the S&P BSE Sensex was down 0.17 per cent at 71,884 at 10:12 AM. Read

10:45 AM

BPCL signs 4-month US oil purchase deal with BP, delivery to begin in June

Indian state-run oil refiner Bharat Petroleum Corp has signed a deal with BP to buy 1 million barrels per month of US West Texas Intermediate (WTI) crude for four months, trade sources said. Read

 

10:31 AM

Q&A | Our small, midcap portfolios haven't participated in the rally: Marcellus

Markets have seen a volatile few weeks as investors dumped mid-and small-cap stocks amid concerns raised by regulators. PRAMOD GUBBI, co-founder, Marcellus Investment Managers tells Business Standard in an interview that given the macroeconomic strengths, the market is pricing in a reasonable earnings growth and hence justifying current valuations. READ