Good afternoon!
On Wednesday, the benchmark indices ended lower despite positive global cues. Sensex closed 145 points lower at 57,996 and Nifty lost 30 points to end at 17,322.
Here's a look at the latest updates of the market today!
3:35 pm:Market ends in red
Sensex falls 104 points to 57,892 and Nifty ends 17 points lower to 17,304.
3:10 pm: Solara Active Pharma shares hit upper circuit of 10%
Shares of Solara Active Pharma climbs 10% to Rs 734.30 against the previous close of Rs 667.55.
2:41 pm: HDFC Bank raises FD rates
India's largest private lender HDFC Bank has hiked interest rates on fixed deposits less than Rs 2 crores by 5-10 basis points across multiple tenors. HDFC Bank has increased one year FD interest rate by 10 basis points to 5 per cent from 4.9 per cent and 3 years-5 years by 5 basis points to 5.45 percent from 5.40 per cent, according to the bank's website.
2:30 pm Market check
Sensex rises 30 points to 58,027 and Nifty gains 26 pts to 17,348.
1:50 pm: Nestle India shares trading flat post Q3 earnings
Nestle India shares trading flat post December quarter earnings
Shares of FMCG giant Nestle India were trading flat in afternoon session today after the firm reported a 19.99 per cent year-on-year (YoY) fall in net profit.
Nestle India stock was trading 0.30% lower at Rs 18189 in afternoon session. Net profit in Q3 came at Rs 386.66 crore, down 19.99 per cent year-on-year (YoY) from Rs 483.31 crore recorded during the same period last year.
The company's revenue from operations came in at Rs 3,739.32 crore, up 8.93 per cent YoY compared to Rs 3,432.58 crore reported in the corresponding period last fiscal.
1:24 pm: Mixed market breadth
Market breadth on BSE is mixed with 1,619 shares rising against 1,642 falling in the afternoon session. 121 stocks are unchanged.
1: 15 pm: Kotak Institutional Equities on Indian cement companies
Business strategies of Indian cement companies will witness many changes as they progress towards achieving net-zero emissions by mid-century, led by
(1) Implementation of explicit carbon pricing, which will incentivise low-carbon action
(2) Higher focus on cost-effective conventional levers in the near term, which will improve their profitability,
(3) Introduction of new capital-intensive technologies, which will drive consolidation in the industry over the medium to long term. This calls for increased disclosure from companies on their decarbonization roadmap and capital-allocation strategy for implementing green/efficiency projects.
1:05 pm: Market cap of BSE-listed firms stands at Rs 263.04 lakh crore
12:30 pm: Market Check
Sensex trading 238 points higher at 58,235 and Nifty rises 84 points to 17,406
12:10 pm: Schaeffler India stock zooms 13% post Q4 earnings
Schaeffler India shares rose nearly 13% today after the manufacturer of ball and roller bearing reported a 34.61% rise in Q4 net profit. The stock has gained after 4 days of consecutive fall. It opened with a gain of 4.7% at Rs 1,708 today. The stock touched an intraday high of Rs 1,840, rising 12.79% on BSE. Schaeffler India shares are trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Read more
11:45 am: Market check
The benchmark indices were trading flat amid mixed global cues. Sensex was up 44 points to 58,041.17 and Nifty was trading 25 points higher at 17,347.45.
HDFC and Reliance Industries were the top gainers on Sensex.
10:40 am: Tata Motors stock rises 3% on JLR-NVIDIA deal, JP Morgan's bullish stance
Stock of Tata Motors gained nearly 3% in early trade today after the auto major's UK arm Jaguar Land Rover announced a partnership with NVIDIA for all new vehicle platforms slated for production beginning in 2025. US investment bank JP Morgan initiating coverage on the Indian auto firm also led to positive sentiment around the stock.
The large cap stock touched an intraday high of Rs 511.4, rising 2.65% on BSE.
Tata Motors stock touched an intraday high of Rs 511.4, rising 2.65% on BSE. Tata Motors shares are trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
10: 20 am: Wipro shares trade higher on 5-yr deal with ABB Info System
Shares of Wipro were trading 1.4 per cent higher at Rs 572.45 on BSE after the company announced that it has been awarded a five-year, strategic engagement to drive transformation for ABB’s Information Systems digital workplace services. "The agreement, worth over $150 million, will help ABB’s Information Systems deliver enhanced, consumer-grade digital experiences for its 105,000 employees in over 100 countries," the company said. The stock opened 1.4 per cent higher at Rs 572.45 against the previous close of Rs 564.25. With a market capitalisation of more than Rs 3 lakh crore, the shares stand higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages.
9:16 am: Market opening
The benchmark indices opened higher on Thursday amid mixed global cues. Equity benchmark Sensex opened 254 points higher at 58,250.81 and Nifty jumped over 72 points to 17,395.10.
Wipro and M&M were the top gainers on Sensex, followed by Asian Paints, Tech Mahindra, Titan and HDFC.
HDFC Bank and HUL were among the top losers.
8:50 am: Global updates
Wall Street bounced off session lows Wednesday with the S&P 500 crossing into positive territory by the closing bell after the US Federal Reserve released meeting minutes, which said that while the central bank intends to begin raising interest rates to combat inflation, its decisions would be made on a meeting-by-meeting basis.
The Dow Jones Industrial Average fell 54.57 points, or 0.16%, to 34,934.27, the S&P 500 gained 3.94 points, or 0.09%, to 4,475.01 and the Nasdaq Composite dropped 15.66 points, or 0.11%, to 14,124.10.
In Asia, the Nikkei Weighted index was down 0.24 per cent and Hang Seng was trading 0.33 per cent higher. Shanghai Composite was up 0.31 per cent.
8:40 am: Rupee update
The rupee appreciated by 25 paise to close at 75.07 (provisional) against the U.S. dollar on Wednesday, amid signs of de-escalation in the conflict between Russia and Ukraine.
At the interbank forex market, the local unit opened at 75.24 against the greenback and witnessed an intra-day high of 74.96 and a low of 75.24.
8:35 am: FII and DII action
Foreign institutional investors (FIIs) sold shares worth Rs 1,890.96 crore on February 16, and domestic institutional investors (DIIs) bought shares worth Rs 1,180.14 crore, as per provisional data available on NSE.
8:30 am: SGX Nifty
The Indian equity market is likely to open on a flat note as SGX Nifty was down 2 points at 17,374.
Singapore Nifty (SGX Nifty) is the Indian Nifty index that is traded in On Tuesday, Sensex closed 187 points higher at 57,808 and Nifty rose 53 points to 17,266. In the last three sessions, Sensex lost 1,937 points and Nifty plunged 567 points.the Singapore Stock Exchange and is considered to be the first indication of the opening of the Indian market.
8:15 am: Market on Wednesday
The benchmark indices ended lower despite positive global cues. Sensex closed 145 points lower at 57,996 and Nifty lost 30 points to end at 17,322. NTPC, SBI and Ultratech Cement were the top Sensex losers, falling up to 1.63%. Of 30 Sensex stocks, 22 ended lower.
Bharti Airtel, HDFC, M&M and Dr Reddy's were the top Sensex gainers, rising up to 1.41%.
BSE mid cap and small cap indices fell 8 points and rose 117 points, respectively.
On the sectoral front, capital goods and banking stocks led the losses today with their BSE indices falling 136 points and 231 points, respectively.