Sensex plunges 695 pts, Nifty below 18,100 as HDFC twins sink up to 6%

CLOSING BELL: HDFC and HDFC Bank accounted for a loss of 645 points on the BSE benchmark. Broader indices ended with relatively lesser losses of around 0.5 per cent each.

SI Reporter New Delhi

Sensex

8:34 AM

MSCI may use adjustment factor of 0.50 vs 1 to compute weight of merged entity of HDFC Bank

MSCI may use an adjustment factor of 0.50, against expectations of 1, for computing weight of the merged entity of HDFC Bank. The decision may result in outflow of $150-200 million in HDFC Bank vs $3 billion inflow estimated earlier by Street, as per Nuvama Research.

8:28 AM

Charts show Nifty Realty in 'overbought' zone, adopt sell-on-rise strategy

Ravi Nathani, independent technical analyst said that the Nifty Realty index has entered an overbought zone, and therefore, traders must exercise caution in their bullish trading decisions. READ

8:22 AM

F&O strategy: HDFC Securities suggests Bull Spread on L&T Finance

Nandish Shah of HDFC Securities recommends to buy L&T Finance 96 call option and simultaneously sell 100 call of the May series. READ

8:15 AM

Hero Moto, SpiceJet, AEL, TVS Motor among top 10 stocks to watch on Friday

SpiceJet: Aircastle, one of the lessors of the low-cost airline, has filed a case at the National Company Law Tribunal (NCLT) seeking initiation of an insolvency process against the airline for non-payments of dues. The hearing is scheduled for Monday.

Adani Enterprises (AEL): The company reported earnings towards the fag end of trades on Thursday. Q4 PAT zoomed 137 per cent YoY to Rs 722 crore, and total income was up 26 per cent at Rs 31,716 crore.

Hero MotoCorp: The two-wheeler major’s consolidated net profit surged 30.6 per cent YoY to Rs 810.60 crore in Q4FY23, backed by a 13.7 per cent growth in total income at Rs 8,671.82 crore. READ