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

Written By: Sandeep Singh Updated on: March 24, 2023, 08.17 AM IST

Stock Market Today LIVE: Indian equity benchmarks Nifty and Sensex ended a volatile session lower on Thursday, after the Feds widely-expected 25-basis-point rate hike and promise to continue to fight red-hot inflation amid banking turmoil brought the nervousness back on Wall Street and Asian markets. Catch highlights of the March 23 session in the Indian stock market, 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.coms blog.

Stock Market Today LIVE: Indian equity benchmarks Nifty and Sensex ended a volatile session lower on Thursday, after the Fed's widely-expected 25-basis-point rate hike and promise to continue to fight red-hot inflation amid banking turmoil brought the caution back across global markets. Among heavyweights, HDFC Bank, ICICI Bank, Axis Bank, ITC and Bharti Airtel aided the intraday recovery in the Indian stock market. 

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Equities across other parts of Asia tumbled, mirroring the overnight losses to the tune of 1.6 per cent in the Dow Jones, after Fed Chair Jerome Powell hinted at some additional tightening that might be possibe and that the US central bank was on the verge of pausing rates in view of recent turmoil in the financial sector. Catch highlights of the March FOMC meeting

Banking shares across the globe have recovered only some of the losses after taking heavy blows over the past few weeks amid fears of contagion after the sudden collapse of Silicon Valley Bank (SVB), though a last-minute rescue of the troubled Credit Suisse lent some support. 

Catch highlights of the March 23 session in the Indian stock market, 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:

Latest Updates

  • 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.

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    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 

    Read more on Hindenburg

  • 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.

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    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

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    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 

  • 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. 

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    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.

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    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

    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.   

    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. 

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

     

    Category Subscription (No. of times the shares on offer)
    QIB 9
    NII 33.1
    Retail 5.1
    Total 12.2
  • Anil Singhvi Market Strategy | Support for Nifty 50 at 17,000-17,050 levels, for Nifty Bank in 39,600-39,750 band

    Zee Business Managing Editor Anil Singhvi sees a strong buy zone for the Nifty50 benchmark coming in at 16,850-16,950 levels. For the Nifty Bank, he expects a strong buy zone in the 39,375-39,500 band. 

    How Anil Singhvi views the Indian stock market today and what he recommends

  • Global Market Update | Asian shares a mixed bag after FOMC rate hike, Jerome Powell's hint at additional increases sends Dow Jones tumbling

    Equities across much of Asia begin the day on a mixed note, amid weak cues from the Dow Jones, the S&P 500 and the Nasdaq Composite overnight, after the Fed hiked the key US interest rates by a widely-expected 25 basis points but its Chair Jerome Powell hinted at additional increases citing sticky inflation. 

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    MSCI's broadest index of Asia Pacific shares outside Japan is flat at this hour. 

    Here's where some of the key indices in the region stand: 

     

  • Stock Market Today LIVE | SGX Nifty futures down over 25 pts, indicate a weak start ahead for Nifty 50; Sensex to follow suit

    Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty 50 index — is down 26.5 points or 0.2 per cent at 17,131.5 at this hour, having gyrated in a band of 17,050-17,250 earlier in the day. 
     
     
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