Stock Market Live Updates: Nifty Ended Below 22k, Sensex Down 531 Pts; All Sectors In Red

On the last trading session of the week, the benchmark indices ended lower as the Nifty closed 150.10 points or (0.68%) lower at 21,996.55 while Sensex ended 531.20 points or (0.73%) at 72,566.08 level. All sectors ended in red except FMCG and metal. The top 5 winners in the Nifty pack were UPL, BHARTIARTL, HDFCLIFE, BAJFINANCE and ADANIPORTS while the top 5 losers were M&M, BPCL, COALINDIA, TATAMOTORS and HEROMOTOCO.

Thursday's Market:

On March 14, the benchmark indices finished the day higher and partially recovered from the previous session's losses, with Nifty closing at 22,150 due to purchasing across all sectors.

The market erased its early losses and continued to rise over the remainder of the trading session, as the Sensex closed comfortably above 73,000 and the Nifty crossed 22,200 intraday.

At the closing, the Nifty was up 149 points, or 0.68 percent, at 22,146.70, and the Sensex was up 335.39 points, or 0.46 percent, at 73,097.28.

Adani Enterprises, Adani Ports, Hero MotoCorp, Hindalco Industries, and ONGC were among the top gainers on the Nifty, while Axis Bank, IndusInd Bank, Bajaj Finance, Tata Steel, and JSW Steel were among the losers.

GIFT Nifty:

The GIFT Nifty has lost 121 points, or 0.54 percent, suggesting that the wider index in India is off to a poor start. Around 22,142 was the trading level for the Nifty futures.

Asian Markets:

Friday's trading saw a decline in Asian Stock market live following the surprise 0.6% growth in producer prices in the United States in February.

With the first estimates anticipated to be released later in the day, investors throughout Asia will be keeping a close eye on any updates from Japan's spring wage negotiations.

OMCs Cut Fuel and Petrol Costs

State-run Oil Marketing Companies (OMCs) declared that starting at 6 a.m. on 15 March, the price of petrol and diesel would be reduced nationwide by Rs 2 per litre.

Diesel will be sold in Delhi for Rs 87.62 per litre, while petrol would now cost Rs 94.72 per litre, down from Rs 96.72 previously. The OMCs' action coincides with the nation's upcoming Lok Sabha elections.

Morgan Stanley

According to Morgan Stanley researchers, investments in India are expected to rise at a faster rate than consumption over the coming years. In 2026-2027, Gross Fixed Capital Formation (GFCF) is expected to reach 36% of GDP.

In a research released on March 13, Morgan Stanley economists stated, "Real GFCF growth continued to hold strong at 10.5 percent in 4Q23 (October-December 2023), staying above the pre-Covid 2017-18 average of 9.6 percent."

In February, US Retail Sales Increased

Retail sales in the United States increased in February due to growth at petrol stations and auto dealerships, but consumer spending is slowing as people deal with rising borrowing costs and inflation.

Retail sales increased by 0.6% in the previous month, the Census Bureau of the Commerce Department announced on Thursday. Sales for January were down 1.1%, as opposed to the 0.8 percent that had been previously reported, according to revised data. Retail sales, which are primarily goods-related and are not inflation-adjusted, were predicted by economists surveyed by Reuters to increase by 0.8 percent in February.

LIVE Feed

Mar 15, 2024, 3:20 pm IST

KSB Shares In Focus

Orders of over Rs 267 crores are placed with KSB Limited to deliver pumps to the Kudankulam facility in the Indian state of Tamil Nadu. The order covers the delivery of motors and other components in addition to pumps. It is anticipated that sales and product/service supply for the order will begin in the fourth quarter of FY 2025.

Mar 15, 2024, 2:11 pm IST

EaseMyTrip Shares In Focus

EaseMyTrip EaseMyTrip.com announces an exclusive offer for its corporate clientele on Friday. All listed organizations will receive a 20-day credit term from the brand to finalize payments for their travel bookings, giving them more ease and financial flexibility. For all involved parties, this strategic move will accelerate the transactional process and enable smooth payments. The extended credit period, which has a 20-day window, will help listed companies better manage their cash flows while still having access to the extensive travel and related services offered by EaseMyTrip. To avail this offer, the companies will have to provide EaseMyTrip with a future-dated cheque, according to a stock exchange filing signed by the company on 15th March.

Mar 15, 2024, 1:42 pm IST

NCC Arm To Pay Rs 175 Crore As Settlement With TAQA India Power Ventures

A subsidiary of NCC has finalized an agreement to settle a dispute with TAQA India Power Ventures and Himachal Sorang concerning arbitration awards related to the Himachal Sorang Power Project. This project was transferred to TAQA in September 2012. NCC Infrastructure Holdings (NCCIHL), the subsidiary, had already set aside Rs 140 crore in its financial records up to February 2024 to cover the disputed amounts. Under the terms of the settlement, NCCIHL will pay Rs 175 crore to TAQA in three installments: Rs 85 crore by March 31, 2024, Rs 45 crore by July 31, 2024, and the remaining Rs 45 crore by December 31, 2024, as per the arbitration awards.

Mar 15, 2024, 1:21 pm IST

Spandana Sphoorty Financial To Raise Funds Via Issue Of NCDs

Spandana Sphoorty Financial has announced plans to raise funds through the issuance of Non-Convertible Debentures (NCDs). The Management Committee of the Board of Directors, in a meeting held on March 15, 2024, has given approval for the issuance of 5,000 Secured, Senior, Redeemable, Transferable, Listed, Rated NCDs with a face value of Rs 1,00,000 each at par, totaling up to Rs 50,00,00,000 on a private placement basis. Additionally, the company will issue another 5,000 Secured, Senior, Redeemable, Transferable, Listed, Rated NCDs with the same face value and aggregate amount on a private placement basis.

Mar 15, 2024, 11:40 am IST

Gold Prices

The prices of pristine, shiny and yellow metal are in a see-saw as bullish sentiments in safe haven assets dampened after hotter-than-expected US inflation data crushed hopes for sooner-than-expected US Federal Reserve rates cut. International gold prices are moving to halt their three-consecutive weeks gaining spree on Friday. Gold prices in Dubai, the emirate city of UAE, fell across 18 carats to 24 carats.

Mar 15, 2024, 11:30 am IST

Top 5 Gainers and Losers Today

Stock Market Live Updates

Mar 15, 2024, 11:06 am IST

IIFL Finance In Focus

Fitch Ratings took action against IIFL Finance, placing the company on 'Rating Watch Negative' following a directive from the Reserve Bank of India (RBI) to cease new gold-backed lending activities. This decision signals potential challenges ahead for the financial institution and underscores the regulatory pressures it faces in its operations.

Mar 15, 2024, 11:05 am IST

OMC Stocks Fall

OMC stocks namely BPCL, HPCL, and Indian Oil tumbled after the government slashed prices of petrol and diesel by Rs 2 per litre all across India ahead of Lok Sabha election

Mar 15, 2024, 9:50 am IST

Ashok Leyland said Creador will put approximately million to purchase a 19.6% share in Hinduja Technology

Hinduja Tech, an Ashok Leyland subsidiary that provides technical R&D services, has received million from private equity firm Creador to purchase a 19.6% stake in the business. Hinduja Tech's post-money equity worth was 5 million as a result of this investment.

Mar 15, 2024, 9:18 am IST

Rupee Holds Below 83 Against US Dollar

Indian rupee continued to stay below 83 levels against the US dollar. In the early trade of Friday, at the interbank forex market, rupee performed at 82.97 per dollar. The local unit is trading in a narrow-range as dollar stays firm amidst hotter-than-expected US inflation data which heightened worries of when US Fed will opt for rate cuts. A rate cut as early as June policy is what majority of investors hope for.

Mar 15, 2024, 8:58 am IST

Oil Dips

Drone strikes on Russian refineries, dramatic drops in U.S. crude and fuel supplies, and rising energy demand estimates all helped to drive up oil prices, which slipped lower on Friday but were still on course to jump by over 4% for the week. After hitting a barrel for the first time since November on Thursday, May Brent crude oil futures dropped 41 cents, or 0.5%, to .01 at 1234 GMT. The price of April's U.S. West Texas Intermediate (WTI) oil dropped 32 cents, or 0.4%, to .94.

Mar 15, 2024, 8:34 am IST

KP Green Engineering

The manufacturer of hot-dip galvanised and manufactured steel products, KP Green Engineering, collected Rs 54 crore on March 14 through its anchor book, one day before its initial public offering (IPO) opened. The biggest-ever IPO for small and medium-sized businesses will begin accepting subscriptions on March 15 and end on March 19. In its BSE filing, the Gujarat-based business stated that it "has finalised allocation of 37.50 lakh equity shares to anchor investors, at issue price of Rs 144 per equity share."

Mar 15, 2024, 8:32 am IST

Krystal Integrated Services IPO

On the first day of bidding, March 14, 36 percent of Krystal Integrated Services' IPO, a facilities management services provider based in Mumbai, was subscribed. According to subscription statistics accessible with exchanges, all investors took part in the transaction, purchasing 10.79 lakh equity shares against an offer size of 29.99 lakh shares. Qualified institutional buyers selected 0.33 times the portion allotted to them, whereas retail investors purchased 0.34 tied quota, non-institutional investors 0.43 times, and so on. With its first public offering, Krystal Integrated Services hopes to raise Rs 300.13 crore at the upper end of the Rs 680–715 price range per share.

Mar 15, 2024, 8:29 am IST

Dollar

Hotter-than-expected U.S. inflation statistics on Friday fueled concerns about when and how much the Federal Reserve would start reducing interest rates this year, and the dollar was steady and poised to end a three-week losing streak. After increasing 0.55% on Thursday, the dollar index—which compares the value of the US dollar to six rival currencies—was 0.058% higher at 103.44. This week's 0.7% increase in the index is expected to be its first advance in four weeks.