Twelve of the 13 major sectoral indexes advanced with information technology (IT) stocks rising over 1%. Thirty-six of the Nifty 50 constituents logged gains.
The rise follows an uptick in global equities as concerns over a banking crisis further eased after U.S. Treasury Secretary Janet Yellen vowed to protect depositors in smaller banks following the failures of Silicon Valley Bank and Signature Bank.
The Swiss government-backed takeover of Credit Suisse by UBS over the weekend eased concerns over financial stability, for the time being.
Global markets now await the Fed decision, which comes amid contagion risks in banking. The odds of a 25-basis-points (bps) hike are 84.9%.
Among individual stocks, Ashiana Housing jumped 14% after crossing the annual booking value guidance of 11 bln rupees for 2022-23.
Hindustan Zinc climbed over 4% after approving the fourth interim dividend of 26 rupees per share.
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Market LIVE Updates | NBCC (India), unit got work orders worth Rs 478 crore
Price as on 22 Mar, 2023 02:22 PM, Click on company names for their live prices.
Sensex holds steady in trade today
Sobha among top 10 losers in trade at this hour
Price as on 22 Mar, 2023 01:43 PM, Click on company names for their live prices.
These 10 stocks gained the most in trade today
Price as on 22 Mar, 2023 12:51 PM, Click on company names for their live prices.
These 5 real estate stocks lead the pack
Price as on 22 Mar, 2023 12:29 PM, Click on company names for their live prices.
Blackstone sweetens delisting offer for R Systems International
Private equity major Blackstone on Wednesday sweetened the delisting offer price to be offered to public shareholders of IT services firm R Systems International, increasing the offer price to Rs 262 per share from Rs 246 earlier, the company said in a stock exchange filing. At 11.43 am, shares of R Systems were trading at Rs 258.25 apiece, up 1.25% on the BSE.
Rakesh Jhunjhunwala to be posthumously awarded the Padma Shri
News Alert | Late stock market guru Rakesh Jhunjhunwala to be posthumously awarded the Padma Shri His family like… https://t.co/dbuUZhjsJd
— ET NOW (@ETNOWlive) 1679466650000
Tokyo stocks close higher
Tokyo stocks closed higher on Wednesday following rallies on Wall Street, where assurances from officials eased investor concerns over financial instability. The benchmark Nikkei 225 index gained 1.93 percent, or 520.94 points, to 27,466.61, while the broader Topix index ended up 1.74 percent, or 33.63 points, at 1,962.93.
Auto stocks in fast lane… check out the top 5 gainers
Price as on 22 Mar, 2023 11:42 AM, Click on company names for their live prices.
Market LIVE Updates | Spencer’s Retail appoints Anuj Singh as CEO, MD
Price as on 22 Mar, 2023 11:22 AM, Click on company names for their live prices.
Railtel Corporation Of India gets work order worth Rs 34.91 crore from Madhya Pradesh State Electronics Development Corporation
Price as on 22 Mar, 2023 11:02 AM, Click on company names for their live prices.
Sula Vineyards: CLSA and IIFL Finance initiate coverage with ‘Buy’ rating
Price as on 22 Mar, 2023 10:54 AM, Click on company names for their live prices.
Larsen & Toubro says L&T Construction wins significant orders for its various businesses. The order value is between Rs 1000-2500 crore.
Price as on 22 Mar, 2023 10:51 AM, Click on company names for their live prices.
Mahindra & Mahindra says IFC to invest Rs 600 crore in New Last Mile Mobility Co
Price as on 22 Mar, 2023 10:31 AM, Click on company names for their live prices.
Market LIVE Updates | Allied Digital Services provides business update
- Company remains well-insulated from global risks
- All of company contracts remain live and company is operating at regular levels of activity
- US unit ADS LLC has undertaken multiple initiatives to secure its funds and to mitigate risks arising from bank failures
Mahindra and Mahindra Ltd is in advanced talks with global investors to raise between $1 billion and 1.3 billion to accelerate the expansion of its electric vehicle unit. The company plans to raise capital by selling shares in its unit, currently valued at over $9.1 billion, in multiple tranches over the next two fiscal years, the report said, citing people familiar with the matter. (Source: Media reports)
Price as on 22 Mar, 2023 10:21 AM, Click on company names for their live prices.
Shares of FMCG major Emami rallied nearly 7% to Rs 369.4 in Wednesday’s trade on BSE after the company said that its board will consider a proposal for a buyback of equity shares this week.
Price as on 22 Mar, 2023 10:21 AM, Click on company names for their live prices.
Today’s Fed decision will be crucial in determining the direction of the market. The most likely outcome will be a 25bp hike in rates along with assurances of financial stability. Since inflation continues to be high and unemployment is at record lows the Fed has to keep its vigil on price stability. If the Fed decision is a pause, there will be a strong rally in markets. An important market trend is the steady decline in the volatility index CBOE VIX in recent days from 26 to around 21 now. This means there is no fear in the market unlike during the Global Financial Crisis of 2008. Investors should remain cautious and wait for stability to emerge. Safety is in large caps. Long-term investors can nibble at high quality large caps.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Market LIVE Updates | Check out the top gainers from the banking pack
Price as on 22 Mar, 2023 09:49 AM, Click on company names for their live prices.
Hindustan Zinc announced a fourth interim dividend of Rs 26 per share for the current financial year 2022-23.
Price as on 22 Mar, 2023 09:45 AM, Click on company names for their live prices.
Nifty IT up 1%; check out the top gainers from the pack
Price as on 22 Mar, 2023 09:29 AM, Click on company names for their live prices.
Patel Engineering along with JV partner bags Tumkur Branch Canal micro irrigation project; Co along with JV partner gets Rs 511 crore project; Co’s share in the project is Rs 281 crore
Price as on 22 Mar, 2023 09:22 AM, Click on company names for their live prices.
Market Live Updates: Income Tax Department carries out search by the at the registered office and other premises of Sobha.
Price as on 22 Mar, 2023 09:22 AM, Click on company names for their live prices.
Top movers in morning trade
Price as on 22 Mar, 2023 09:20 AM, Click on company names for their live prices.
Opening Bell: Sensex gains 250 pts, Nifty above 17,150; Adani Green jumps 5%, HCL Tech 2%
SGX Nifty50 signals a flat start
Nifty futures on the Singapore Exchange traded 40 points or 0.23% higherat 17,184.50, signalling a positive start for Dalal Street on Wednesday.
Asian equities rally in risk-on trade
- Japan’s Topix rose 1.8%
- Australia’s S&P/ASX 200 rose 0.9%
- Hong Kong’s Hang Seng rose 1.4%
- The Shanghai Composite rose 0.3%
Wall Street ends in green
- Dow Jones Industrial Average 0.98%
- S&P 500 gained 1.30%
- Nasdaq Composite added 1.58%
Dollar subdued ahead of Fed decision
- Euro was little changed at $1.0770
- Japanese yen was little changed at 132.55 per dollar
- Offshore yuan was little changed at 6.8780 per dollar
Oil prices ease
Oil prices eased a touch in early trade, having rallied 2% overnight. Brent dipped 22 cents to $75.12 a barrel, while US crude fell 27 cents to $69.40.
FII/DII action
Foreign portfolio investors (FPIs) have net sold shares worth Rs 1,454 crore on Tuesday. DIIs, on the other hand, bought shares worth Rs 1,946 crore.
Rupee falls
The rupee fell 10 paise to 82.66 against the US dollar on Tuesday amid a rise in crude oil prices and unabated foreign fund outflows from the domestic equity market.
Sensex, Nifty gained on Tuesday after 1-day gap
The 30-share BSE benchmark Sensex surged 446 points or 0.77% to settle at 58,074. The broader NSE Nifty rose 119 points or 0.70% to end at 17,107.
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