Share Market HIGHLIGHTS: Nifty sheds 75 pts to give up 17,100, Sensex loses 289 pts after Jerome Powell hints at more hikes

Share Market Update | Nifty 50 ends volatile day 75 pts lower at 17,077, Sensex loses 289 pts dragged by financial shares after Fed rate hike, Jerome Powell's hint at additional increases

Both headline indices finish the day full of see-saw swings in the market with losses of about half a per cent. The Nifty 50 sheds 75 points for the day to settle at 17,076.9, having broadly gyrated in the 17,050-17,200 band during the session. The Sensex loses 289.3 points to end at 57,925.3 after moving in a range of more than 550 points around the flatline — between 57,838.9 and 58,396.2 — in intraday trade.

Here's how the indices moved through the day: 

Nifty 50

Sensex

Share Market Tips LIVE | Buy Indian Bank, Chemplast Sanmar, says Vikas Sethi  

Vikas Sethi of Sethi Finmart shares two recommendations with Zee Business viewers: 

• Buy Indian Bank for a target price of Rs 295 with a stop loss at Rs 272
• Buy Chemplast Sanmar shares for a target of Rs 390 with a stop loss at Rs 360

Another Hindenburg report coming? Can the market handle one? US-based hinted at a "big one" on Twitter 

Hindenburg Research specialises in forensic financial research. According to its website, in particular, it often looks for situations where companies may have any combination of:

• Accounting irregularities
• Bad actors in management or key service provider roles
• Undisclosed related-party transactions
• Illegal/unethical business or financial reporting practices
• Undisclosed regulatory, product, or financial issues

What could be in store for whoever is on Hindenburg's radar this time, and for the financial markets? Well, for now, Hindenburg has just six words to offer:

Share Market Today LIVE | Indraprastha Gas Ltd (IGL) declares 500% dividend; shares give up day's gains 

IGL's board announces a dividend of Rs 10 per share of face value of Rs 2 with a record date of March 31.

IGL shares turn flat after the dividend announcement, having risen by as much as Rs 8.5 or 1.9 per cent to Rs 448.3 apiece earlier in the day on BSE. 

Share Market Tips LIVE | Sameet Chavan suggests buying 40,300 monthly call option of Nifty Bank 

Sameet Chavan of Angel One shares one index derivatives recommendation with Zee Business viewers. He suggests traders to purchase the monthly 40,300 call option of the banking index at Rs 270-250 for a target of Rs 490 with a stop loss at Rs 120.

Sensex LIVE | ITC, ICICI Bank, Axis Bank aid 400-point recovery from day's low

Here's a look at the top movers and shakers in the 30-scrip universe:

Sensex LIVE | Nestle, Maruti Suzuki, Tata Motors rise most among 20 gainers in 30-scrip basket

Hindenburg Research hints at "another big" report soon 

New report soon—another big one.

— Hindenburg Research (@HindenburgRes) March 22, 2023

Nifty LIVE | ITC, Axis Bank, Larsen & Toubro, Maruti Suzuki, ICICI Bank top boosts for index

Here's a look at the heatmap in the Nifty50 basket by weight at this hour:

Ramesh Damani shares wealth creation tips in conversation with Anil Singhvi

In an interview to Zee Business Managing Editor Anil Singhvi, ace investor and BSE Member Ramesh Damani says investors should remember that the benefits of compounding can only be enjoyed over a long period of time. 

Even small investments can prove to be rewarding with the power of compounding, says the market veteran. 

Global Surfaces IPO Listing | Shares debut at Rs 163 on BSE, Rs 164 on NSE 

Zee Business Managing Editor Anil Singhvi had pegged the listing of Global Surfaces shares to be in the range of Rs 155-165 apiece, a premium of 10.7-17.9 per cent. 

Read more on Global Surfaces listing

IPO Listing | Global Surfaces shares list at 17% premium over issue price range

The stock of Jaipur-based Global Surfaces, a manufacturer of engineered quartz and processor of natural stones, enters the secondary market at a premium of 16-17 per cent over the upper end of its issue price range, in line with what Zee Business Managing Editor Anil Singhvi had predicted. 

Stock Market Today LIVE | Nifty 50 falls over 100 pts to 17,045, Sensex drops 376 pts  

Both headline indices fall as much as 0.6 per cent within the first few minutes of trade. The Nifty 50 slides 106.6 points to hit 17,045.3 on the downside at the weakest level of the day so far.

The Sensex sheds 375.7 points to hit 57,838.9 at an intraday low. 

Here's how the intraday charts are building up for Nifty 50 and Sensex: 

Nifty 50

Sensex

Read about the opening bell in the Indian stock market

Global Surfaces Listing | Anil Singhvi expects market debut at up to 18% premium, recommends existing investors to hold  

Zee Business Managing Editor Anil Singhvi expects the Global Surfaces stock to list at a premium over the issue price. He sees the Global Surfaces shares debuting at levels of Rs 155-165 on BSE and NSE, which translates to a premium of 10.7-17.9 per cent over the upper end of the issue price range.   

He suggests investors who have received shares in the IPO to hold on to the stock with a stop loss slightly below the issue price in order to protect their capital. One can keep holding on to a trailing basis, he says. 

Read more on Global Surfaces IPO listing

IPO Listing News | Global Surfaces shares to debut on BSE, NSE at 10 am

The initial share sale of Global Surfaces, a maker of engineered quartz and processor of natural stones, concluded last week with an overall subscription of more than 12 times the shares on offer. 

Here's a look at how different types of investors responded to the Global Surfaces IPO: