Share Market HIGHLIGHTS: Nifty 50, Sensex end nine-day winning run as Infosys bleeds; HDFC Bank down 2%
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex suffered sharp losses on Monday dragged by HDFC Bank and Infosys, after the blue-chip companies reported weak sets of Q4 results last week. Globally, data pointed to resilience in core US retail sales and a rise in inflation expectations, fuelling fears of sustained hikes in benchmark US interest rates and sending equities falling. Investors on Dalal Street await more of corporate earnings reports from India Inc for cues as the Q4 results season gathers steam.
Catch minute-by-minute updates of all the action in the Indian share market on April 17, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex suffered sharp losses on Monday dragged by HDFC Bank and Infosys, after the blue-chip companies reported weak sets of Q4 results last week. Globally, data pointed to resilience in core US retail sales and a rise in inflation expectations, fuelling fears of sustained hikes in benchmark US interest rates and sending equities falling. Investors on Dalal Street await more of corporate earnings reports from India Inc for cues as the Q4 results season gathers steam.
Catch minute-by-minute updates of all the action in the Indian share market on April 17, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
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Worst day for Nifty IT in 11 months as Infosys disappoints Street
A sharp fall in Infosys shares on Monday drag the Nifty IT — whose 10 constituents include Tata Consultancy Services (TCS), Wipro, HCL Technologies and Tech Mahindra — 4.7 per cent for the day. All of the 10 stocks finish the day in the red, with Infosys being the worst hit with a fall of 9.4 per cent. Besides Infosys, TCS, LTIMindtree and Tech Mahindra pose the maximum pressure on the IT index.
Here's how the rest of the IT basket fared:
| Stock | Change (%) | CMP |
| Tata Consultancy Services (TCS) | -1.6 | 3,139 |
| MPHASIS | -1.8 | 1,740 |
| WIPRO | -1.8 | 361.7 |
| L&T Tech Services (LTTS) | -2.6 | 3,440 |
| HCL Technologies (HCLTECH) | -2.8 | 1,042.3 |
| COFORGE | -3.3 | 3,894.7 |
| PERSISTENT | -4.1 | 4,210 |
| Tech Mahindra (TECHM) | -5.2 | 1,030.5 |
| LTIMindree (LTIM) | -7 | 4,323 |
Read more on Infosys, other IT shares
Share Market Today | Sensex ends 520 pts lower, Nifty gives up 17,750; D-Street halts nine-day winning run as Infosys bleeds
Here's how the headline indices moved through the day:
Nifty 50
Image: NSE
Sensex
Image: BSE
Share Market Today LIVE | Nifty IT on track to log worst day in 11 months as Infosys bleeds
The IT index — whose 10 constituents include TCS, Infosys, Wipro, HCL Tech and Tech Mahindra — is down 1,333.9 points or 4.7 per cent at 27,009, on track to end the day with its biggest single-day loss since May 19, 2022.
Infosys is the biggest drag on the Nifty IT, as the Bengaluru-based major's Q4 results fell short of Street estimates.
Image: BSE
Higher interest rate increases repayment amount, limits refinancing options for SME borrowers with loans against property: Moody's
According to Moody's, higher interest rates have increased repayment amounts and limited refinancing options for SME borrowers, which have availed loans against property, heightening the default risk for these loans.
"Even if the RBI were to keep rates on hold from here, the repayment amounts will weigh on SME borrowers' capacities to repay debt. Furthermore, the rate increases over the past year have reduced the likelihood that LAP (loan against property) borrowers will be able to refinance their debt on more affordable terms if they can no longer meet repayment amounts," according to the credit ratings agency.
Interest rate hikes in the past one year have increased funding costs for NBFCs, it adds.
Share Market Today LIVE | Nifty 50, Sensex off day's lows aided by buying in SBI, ITC, Nestle India
Nifty 50 LIVE
Image: NSE
Sensex LIVE
Image: BSE
Share Market Today LIVE | DLF, Dr Reddy's, UltraTech hit 52-week highs
| Security Name | New 52-week high | Previous 52-week high |
| DLF | 419.5 | 418.5 (Dec 5, 2022) |
| Dr Reddy's Labs (DRREDDY) | 4,922.7 | 4,916.7 (Apr 12, 2023) |
| UltraTech Cement (ULTRACEMCO) | 7,824.7 | 7,792.1 (Apr 11, 2023) |
Share Market Tips LIVE | ICICI Bank, PNB, DLF, TVS Motor among analysts' top picks
In conversation with Zee Business, market experts Sandeep Wagle, Sumeet Bagadia, Rakesh Bansal and Sandeep Jain share their top recommendations for this week, in this special segment, Pick of the Week.
On their 'buy' list are stocks such as ICICI Bank, PNB, DLF and TVS Motor.
Check out the full list here
HLE Glascoat, KIOCL, Punjab & Sind Bank, Indian Bank, Anupam Rasayan rise most among 280-odd gainers in BSE 500 universe
On the other hand, Infosys, LTIMindtree, Sonata Software, Tech Mahindra and Hikal are among the top laggards.
Image: BSE
Share Market Today LIVE | ITC shares hit record high, cross Rs 400 level for first time ever
The stock of cigarettes-to-hotels conglomerate ITC strengthens by as much as Rs 6.5 or 1.6 per cent to scale an all-time high of Rs 402 apiece on BSE.
Image: BSE
Share Market Today LIVE: Tata Motors to hike prices from May 1; shares under pressure
Tata Motors shares moved within a narrow range around the flatline on Monday, after the Tata group auto major announced a hike in the prices of its passenger vehicles effective May 1. Click here to read more.
Share Market Today LIVE | HDFC Twins, Infosys, TCS top draggers
HDFC Twins, Infosys and TCS emerge as the top draggers to drag the indice down whereas RIL, ITC and SBI continue to trade in green.
Source: NSE
WPI inflation eases to 29-month low of 1.34% in March
Headline inflation in the country — gauged by the Wholesale Price Index (WPI) — cools down to a 29-month low of 1.34 per cent in March, according to official data released at noon. Inflation in manufactured products and fuel items aided the deceleration in WPI.
March becomes the 10th month in a row wherein wholesale inflation has eased sequentially.
Image: Reuters
Headline inflation cools down to 1.34% in March
Share Market Today LIVE | Wipro shares hit 52-week low as Infosys leads riot in Nifty IT basket
Wipro shares drop by Rs 16.4 or 4.5 per cent to Rs 351.9 apiece at the weakest level of the day so far on BSE.
Image: BSE
Share Market Today LIVE | All 10 Nifty IT constituents in the red; Infosys down 11%
| Stock | CMP | Change (%) |
| Infosys (INFY) | 1,240.8 | -10.7 |
| LTIMindtree (LTIM) | 4,292 | -7.6 |
| Tech Mahindra (TECHM) | 1,028.8 | -5.3 |
| COFORGE | 3,818.8 | -5.2 |
| L&T Tech (LTTS) | 3,352.9 | -5 |
| PERSISTENT | 4,177.9 | -4.9 |
| MPHASIS | 1,702 | -3.9 |
| HCL Technologies (HCLTECH) | 1,041.6 | -2.8 |
| WIPRO | 359.6 | -2.4 |
| TCS | 3,161.9 | -0.9 |
Here's a look at the heatmap in the 10-scrip IT index (by weight):
Image: Niftyindices.com