Share Market HIGHLIGHTS: Sensex ends 362 pts lower, Nifty sinks below 22,050 amid volatile trade
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex fell on Tuesday, March 26, as Dalal Street returned to trade following a long weekend owing to the Holi holiday on Monday, amid selling pressure in financial, IT and energy stocks.
Catch all the highlights of the March 26 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex fell on Tuesday, March 26, as Dalal Street returned to trade following a long weekend owing to the Holi holiday on Monday, amid selling pressure in financial, IT and energy stocks.
Catch all the highlights of the March 26 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
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Share Market Today: Sensex ends 362 pts lower at 72,470, Nifty slips to 22,005
Both headline indices finish the ay around half a per cent weaker.
The Sensex sheds 361.6 points to end at 72,470.3 and the Nifty50 settles at 22,004.7, down 92.1 points from its previous close.
SpiceJet shares soar as airline signs pact with aircraft financier to settle Rs 755 crore dues
SpiceJet said on Tuesday that it had reached a settlement with Export Development Canada (EDC), Canada's export credit agency, to resolve liabilities worth $90.8 million (Rs 755 crore). The stock of SpiceJet jumped by as much as Rs 3.3, or 5.5 per cent, to Rs 62 apiece on BSE after the news.
The settlement will lead to savings to the tune of $68.3 million (Rs 567 crore) for the airline, SpiceJet said.
Share Market Today LIVE: Exclusive | Sebi may soon reveal plan to end fat finger errors
Market Regulator Sebi and exchanges are working on a mechanism to deal with the fat finger error issue.
Zee Business learned from sources that the issue was discussed recently with the stakeholders.
What is a fat finger error?
It is an input error while placing orders to buy or sell shares.
Under the proposed mechanism, there will be a narrow price range within the broader intraday range of 2-20 per cent applicable on stocks in the cash segment.
This additional price range may be called the volatility control band and will be a certain percentage of the last traded price (LTP), applicable on very small intervals of say every 15 or 30 seconds.
This additional price band, within the very small time interval, may be useful in dealing with issues of fat finger errorr or erroneous single-entity orders.
DMart operator shares scale new 52-week high after brokerage upgrade
Shares of Avenue Supermarts in Tuesday’s trade (March 26, 2024) have scaled a new 52-week high of Rs 4509.45, gaining nearly 5 per cent. The gains in the stock are spurred after domestic brokerage ICICI Securities upgraded the stock to ‘add’ from the earlier ‘hold’ recommendation with a raised target of Rs 4800, implying a potential upside of nearly 12 per cent. Earlier, the brokerage had set a target of Rs 4100 per share for the retail company.
Wipro GE Healthcare to invest Rs 8,000 crore in 5 years on medical devices manufacturing, local R&D
Wipro GE Healthcare on Tuesday said it will invest over Rs 8,000 crore in India over the next five years to increase local manufacturing and research and development (R&D) initiatives.
The company, a leading global medical technology, pharmaceutical diagnostics, and digital solutions provider, said as a part of the investment, its 'Made in India' PET CT Discovery IQ scanner will be exported to 15 countries.
Bharti Hexacom sets IPO price band at Rs 542-570/share
Bharti Airtel's arm Bharti Hexacom on Tuesday said it has fixed a price band of Rs 542 to Rs 570 per share for its Rs 4,275-crore initial public offering (IPO).
The initial share-sale of the telecom operator's arm will be open for public subscription during April 3-5, and the bidding for anchor investors will open for a day on April 2, the company said in a public notice.
Indus Towers soars to 52-week high after American Towers decides to convert its Vodafone Idea OCDs into equity
Indus Towers hit a 52-week high of Rs 284.40 on BSE on Tuesday (March 26, 2024) after American Towers decided to convert its Vodafone Idea Optionally Convertible Debentures (OCDs) into equity. After American Towers' decision, the possibility of Indus Towers' recovery of dues from Vodafone Idea has gathered strength.
The stock that began its journey at 279.00 in the morning on Tuesday rose to the 52-week high of Rs 284.40, a 5.06 per cent rise from Friday's close of Rs 270.70.
After stressed period of FY14–20 and slower growth post-COVID, this small-cap lender is poised for re-rating
The shareholders of Karnataka Bank, a leading 'A' Class Scheduled Commercial Bank in India, which was incorporated on February 18, 1924, at Mangaluru, Karnataka, have little to complain about as of now as the stock has given over 78 per cent returns in the past one year. In comparison, the benchmark Nifty50 has risen over 29 per cent during the window. The lender, which witnessed a challenging period between FY14–20 before a stable period of FY05–13, is finally seeing green shoots of several steps the new management has taken over in the past two years.
Maruti Suzuki slips after company recalls 16,000 Baleno and WagonR units—check out target price
Shares of Maruti Suzuki India, the country’s largest carmaker, took a back seat on Tuesday, March 26, after the automaker recalled 11,851 units of Baleno and 4,190 units of WagonR produced between July 30, 2019, and November 1, 2019, last week.
Reacting to the development, the auto stock traded 1.59 per cent lower in the early morning deals on the NSE to the day's low of Rs 12,141.2. At 9:45 AM, the counter traded 1.25 per cent lower at Rs 12,183.30 on the NSE.
Insurance stocks trade mixed after IRDAI’s final regulations on surrender value; Max Financial gains over 6%
Shares of life insurers in Tuesday’s session (March 26, 2024) traded mixed after the IRDAI’s final regulations concerning surrender value effective April 1, 2024, were deemed favourable for insurance companies.
At around 10:22 am, shares of ICICI Prudential Life were up by over 2 per cent at Rs 593.95, HDFC Life was up by 1 per cent at Rs 630.1, and SBI Life traded with a cut of over 1 per cent at Rs 1485.5.
Share Market Today LIVE: Dr Lal PathLabs stock soars; here's the latest trigger
Dr Lal PathLabs (LALPATHLAB) shares are trading within inches of their highest level of the day so far, up by Rs 110.5, or 5.2 per cent, at Rs 2,238.7 apiece on BSE.
Kotak Institutional Equities has upgraded Dr Lal PathLabs to 'add' from 'sell' with a revision in its target for the stock to Rs 2,360 from Rs 1,975.
The brokerage's target implies an upside of 10.9 per cent in Dr Lal shares from their previous close.
450% Return in 1 Year: Anil Singhvi bullish on this stock - Check target price | Wealth Creation Pick
The stock market kicked off the trading day on a subdued note, opening in the red amid weak global cues. While the benchmark Sensex was down by 234.50 points to open at 72,597.44, the Nifty slipped 47.95 points to start the session at 22,048.80. Amid this volatility in the market, there's a good opportunity for investors to create wealth in the long run.
Zee Business Managing Editor Anil Singhvi has picked BSE Ltd as today's Wealth Creation Pick. The stock has given multibagger return of around 450 per cent in one year and Singhvi said that the stock has strong fundamentals and has the potential to give strong returns in the long term.
Share Market Today LIVE: Engineers India shares are up 19% in just three days
Engineers India Ltd (ENGINERSIN) shares strengthen by as much as Rs 11.2, or 5.7 per cent, to Rs 207.8 apiece on BSE, taking their overall gains to as much as 19 per cent from Wednesday's closing price.
This small-cap firm's stock jumps 10% in early trade; here is why
Shares of Savita Oil Technologies, an automotive, industrial lubricant, and petroleum speciality oils production company, jumped as much as 9.75 per cent to Rs 452.70 apiece on the BSE in the opening deals on Tuesday, March 26.
The stock drew buying interest as data shows that SBI MF bought 20.73 lakh shares, or 2.9 per cent equity, at Rs 408 apiece.