BSE Sensex declined 736 points or 1.01% to 72,012 and Nifty fell 238 points or 1.08% to 21,817 in trade on Tuesday. Meanwhile, shares of HCL Tech and Nestle declined 3% each. Nifty Bank fell 191 points to 46,384 and Nifty Midcap declined 575 points to 45,926. Shares of Paytm extended 5% gain on Tuesday and settled at Rs 405.85 per share.
Meanwhile, Bank of Japan hiked interest rates for the first time in 17 years. Mangalore Refinery & Petrochemicals Ltd shares gained over 8% in trade today amid weak market.
Among the stocks, 1141 witnessed gains, 1041 recorded losses, and 132 remained unchanged. Notable gainers on the Nifty included ONGC, Adani Enterprises, Sun Pharma, Bajaj Finance, and ITC, whereas TCS, Wipro, Tata Steel, BPCL, and Coal India were among the major losers.
In a volatile trading session on Monday, the Nifty experienced a rollercoaster ride, plunging to lows of 21,900 before staging a recovery to close above the crucial threshold of 22,000. The index's ability to hold firm at the 50-Day Moving Average of 21,909 underscores the significance of the 21,900 level as a key support going forward.
Similarly, the Nifty Bank mirrored the Nifty's pattern, teetering on the brink of breaking below the 46,000 mark but managing to close above 46,500. Nevertheless, the index faced continued pressure from heavyweight banks, dampening hopes for a substantial recovery in the near term.
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Mar 19, 2024, 2:46 pm IST
TCS Block Deal: Tata Consultancy Services Shares In Red, Slip 3.76% In 1-Week
Tata Sons divulged plans to sell 2.34 crore shares of IT giant Tata Consultancy Services Ltd at the floor price of Rs 4,001 via block deals to reportedly raise approximately .1 billions. Today, TCS shares declined 3.04% till 10:06 am on BSE. Current market price of Tata Consultancy Services shares on BSE is Rs 4018.70 per share. Tata Consultancy Services stock already declined 3.76% in last 1-week span and 1.65% in last 1-month.
The 2.34 crore shares constitute 0.65% equity of IT czar Tata Consultancy Services. The current market capitalisation of Tata Consultancy Services as on March 19, 2024 is Rs 14,53,440 crore. TCS is already India’s 2nd most valued listed company after Reliance Industries Ltd (RIL).
Mar 19, 2024, 2:45 pm IST
Gold Prices India, March 19: Biggest Jump In Yellow Metal Prices In 10-Days
Gold prices India witnessed sharpest rally in last 10 days in March on Tuesday. The current price of 10 grams 22K gold in India is Rs 60,800 per share after the rally of Rs 420 while price of 100 grams of 22 carat gold in India is Rs 6,08,000 after surge of Rs 4200. On the other hand, cost of 10 grams of 24K gold in India is Rs 66,330 after the gain of Rs 460 and 100 grams of 24 carat is retailing at Rs 6,63,300 after the gain of Rs 4600. When it comes to 18 carat gold price in India, it is Rs 49,740/10 gram after rise of Rs 340 and rate of 100 grams of 18 carat yellow metal in India is Rs 4,97,400 as prices soared by Rs 3400.
Meanwhile, gold and silver prices registered a rally today on Multi Commodity Exchange (MCX). Gold futures, maturing on April 5, 2024, is at Rs 65,657/ 10 grams on the MCX, after sligt surge of Rs 49 or 0.07%. The last close was registered at Rs 65,608. Silver futures, maturing on May 3, 2024, also recorded a rally of Rs 104 or 0.14% on Tuesday and presently retailing at Rs 75,600/kg on the MCX. The earlier close was Rs 75,496.
Mar 19, 2024, 2:00 pm IST
Bondada Engineering Bags Order From Singareni Collieries Ltd.
Bondada Engineering Limited has received a Letter of Intent for the grant of a work order from Singareni Collieries Company Limited, about the contract of Design, Engineering, Supply, Construction, Erection, Testing & Commissioning of 67.5 MW (AC) (with 220 KV Evacuation voltage) capacity ground-based Solar PV Power Plant and 10 years Plant O&M at Mandamarri Area, SCCL with gross order value amounting to Rs. 4,33,91,00,000/- (Rupees Four Hundred Thirty-Three Crores Ninety-One Lakh Only).
Mar 19, 2024, 1:42 pm IST
Gold Prices India, March 19: Biggest Jump In Yellow Metal Prices In 10-Days, Buy?
Gold prices India witnessed sharpest rally in last 10 days in March on Tuesday. The current price of 10 grams 22K gold in India is Rs 60,800 per share after the rally of Rs 420 while price of 100 grams of 22 carat gold in India is Rs 6,08,000 after surge of Rs 4200. On the other hand, cost of 10 grams of 24K gold in India is Rs 66,330 after the gain of Rs 460 and 100 grams of 24 carat is retailing at Rs 6,63,300 after the gain of Rs 4600.
Jindal Stainless Partners With JBM Auto For 500 Energy-Efficient Electric Buses
Jindal Stainless, India’s largest stainless steel manufacturer, is partnering with JBM Auto Ltd., the country’s largest electric bus manufacturer, for the fabrication of over 500 energy-efficient and light-weight stainless steel electric buses. Jindal Stainless will provide JT Tubes, made up of low-carbon, chromium-manganese austenitic stainless steel to JBM Auto. JBM Auto, with an order book of over 5000 electric buses, is progressing in a transitional manner towards fabricating its electric buses from the earlier used, carbon steel to stainless steel now. This would result in lightweight, enhanced performance, higher strength, and durability of the buses. Managing Director of Jindal Stainless, Mr Abhyuday Jindal, said, “We are glad to be a part of shaping the future of sustainable mobility in India. Lighter vehicles improve energy consumption, thereby reducing the carbon footprint of the transport sector. Additionally, the corrosion-resistant nature of stainless steel mitigates the need for regular repairs and maintenance, thereby turning out to be the most cost-effective solution on a life cycle basis. Through our association with JBM Auto, we look forward to furthering our mission to contribute to greener modes of public transport.”
Mar 19, 2024, 12:58 pm IST
NHAI Allocates Another Project To Brahmaputra Infrastructure Limited
Brahmaputra Infrastructure Limited has received an LOA from the office of General Manager ( Tech.) – Ne NHAI, Ministry of Road Transport and Highways, Government of India for the execution of the Contract for Four Lane divided carriageway Road with paved shoulders configuration from km. 5+500 to km. 35.862 of NH-36 and km. 00+000 to 22+000 of NH-54 including 2.107 km Doboka Bypass in the state of Assam on PBMC Mode- Letter of Acceptance (LOA)- of a total amount of Rs. 50.80 Crores for 60 months.
Mar 19, 2024, 12:38 pm IST
CAMS Launches A New Facility In Gift City
Computer Age Management Services Limited has received the certificate of approval from the Development Commissioner, GIFT SEZ, Gandhinagar to start operations from a new facility at Brigade International Finance Centre in GIFT City, Gujarat. While they continue serving their 15+ clients from the current facility at GIFT City, the new office will be unveiled soon with their expanded staff.
Mar 19, 2024, 12:10 pm IST
Airtel Expands Its Network Footprint In Surat District
Bharti Airtel, one of India's leading telecommunications service providers, today announced that it has deployed additional sites in Surat district to densify its network. The network expansion project in Surat was undertaken across 165 villages covering a 2.5 Lakh population base. Customers in the tehsils of Kamrej, Chorasi (Surat), Olpad, Mangrol, and Palsana under the Surat district will directly benefit from this network expansion. The expansion will enable seamless access to high-speed connectivity that will ensure a reliable mobile network for work, study, and entertainment in rural parts of Surat. Airtel has been running this rural expansion project nationally and will augment network connectivity across 60,000 villages in the country by 2024. Gujarat has been one of the big focus markets for the company and with this initiative, the company will augment its network coverage across 7000 villages covering the entire state.
Mar 19, 2024, 12:05 pm IST
Top 5 Gainers and Losers Today
Stock Market Live Updates
Mar 19, 2024, 11:05 am IST
Market at 11 AM
The Nifty was down 190.70 points, or 0.86 percent, at 21,865.00, while the Sensex was down 573.82 points, or 0.79 percent, at 72,174.60. Roughly 2022 shares fell, 1121 shares increased, and 106 shares were constant.
Mar 19, 2024, 10:56 am IST
Order for JBM Auto bags valued at Rs 7,500 crore
JBM Ecolife Mobility Private Limited, a subsidiary of JBM Auto Limited, has been declared as L1 and awarded the Tender as a bus operator for Procurement, Supply, Operation and Maintenance of 1,390 Electric Buses [approx. 65%] and development of allied electric and civil Infrastructure on Gross Cost Contracting [GCC] under the PM-eBus Sewa Scheme.
Mar 19, 2024, 10:35 am IST
Shares Of Well-Known Cars And Services Are Listing At A 2% Discount To IPO Price
On Tuesday, March 19, shares of car dealer Popular Vehicles and Services went public at a price around 2% below the offering price. The stock listed on the NSE for Rs 289.20, representing a 1.97% discount from the offer price of Rs 295. It was listed at Rs 292, down 1%, on the BSE in the meantime.
The Kerala-based company, which competes with Landmark Cars, had no grey market premium (GMP) prior to its launch, suggesting a subdued IPO. An unofficial marketplace for trading IPO shares prior to listing is the grey market.
Mar 19, 2024, 10:23 am IST
Gold continues to rise as investors wait for Fed guidance.
Tuesday's price of gold remained unchanged as investors abstained ahead of this week's U.S. Federal Reserve policy meeting, which may provide more hints regarding when interest rate cuts this year are likely to occur.
As of 04:26 GMT, spot gold was trading at ,160.79 an ounce, barely moving. At ,164.10, U.S. gold futures were unchanged.
Mar 19, 2024, 10:20 am IST
Rupee down 0.49 paise against US Dollar
Indian rupee declined 0.49 paise against US Dollar in morning trade on Tuesday
Mar 19, 2024, 10:16 am IST
Stock Market at 10 AM
The Nifty was down 161.50 points, or 0.73 percent, at 21,894.20, while the Sensex was down 501.79 points, or 0.69 percent, at 72,246.63. There were roughly 1389 advances, 1570 declines, and 113 stable shares.
Tata Consultancy Services (TCS) Ltd. witnessed substantial activity in block deals on Tuesday, with 2.2 crore shares, equivalent to 0.6% of its total equity, exchanged hands in multiple large trades. The shares were transacted at an average price of Rs 4,043 per share, resulting in a total transaction value of Rs 8,894 crore. The offer price for these transactions was set at Rs 4,001 per share, representing a 3.45% discount compared to Monday's closing price.
Mar 19, 2024, 9:52 am IST
Bank Of Japan Raise Interest Rates After 17 Years
Japan's monetary landscape witnessed a historic shift as the Bank of Japan (BoJ) announced its decision to raise interest rates, marking the first increase in 17 years. The move represents a significant departure from one of the world's most aggressive monetary easing programs, which had long kept rates in negative territory.
Mar 19, 2024, 9:23 am IST
Market Opens Lower; Nifty Breaks Below 22,000
The Indian stock indices commenced trading on March 19 with a negative sentiment, as the Nifty opened at 21,950. The Sensex registered a decline of 351.24 points or 0.48%, reaching 72,397.18, while the Nifty was down by 104.00 points or 0.47%, standing at 21,951.70.
Mar 19, 2024, 9:09 am IST
Pre-Open Market
In the pre-opening session, the benchmark indices are observing a decline. The Sensex is currently down by 97.32 points or 0.13 percent at 72,651.10, while the Nifty is down by 110.80 points or 0.50 percent at 21,944.90. Additionally, the Indian Rupee has opened at 82.94 per US Dollar, compared to Monday's closing rate of 82.90 per Dollar.
Mar 19, 2024, 9:00 am IST
Shipping Corporation Of India Land And Assets Delisting Today
Today marks the debut of Shipping Corporation of India Land & Assets, the demerged non-core entity of the state-run Shipping Corporation of India, on the stock market. The stock will commence trading under the "Trade-to-Trade" (T2T) segment, where traders and investors are restricted to purchasing stocks on a delivery basis, requiring full payment upfront. Intraday trading and other techniques such as Buy Today, Sell Tomorrow (BTST) are prohibited under this segment.
Mar 19, 2024, 8:58 am IST
TCS Block Deal: Promoter Tata Sons To Sell 0.64% Equity Today; Reports
Today, Tata Consultancy Services (TCS) Ltd., a leading technology firm within the Tata Group, is poised for a significant development as its promoter entity, Tata Sons, prepares to reduce its stake through block deals. According to documents obtained by CNBC-TV18, Tata Sons intends to sell 2.3 crore shares in TCS through these block deals, constituting approximately 0.64% of TCS's total outstanding equity.
Mar 19, 2024, 8:32 am IST
Stocks in Asia Muted Ahead of BOJ Rate Decision
Asian stocks displayed subdued movement as investors braced themselves for a potentially significant interest rate decision by the Bank of Japan (BOJ), anticipated to mark the conclusion of the world's final negative rates regime. South Korean equities experienced a slight decline, while Japanese and Australian stocks remained largely unchanged. Futures contracts for shares in Hong Kong and the United States indicated impending losses. This came after a tech-driven rebound on Wall Street on Monday, preceding a series of central bank decisions scheduled for this week, spanning from the US to the UK.
Mar 19, 2024, 8:10 am IST
Crude Prices Rise Amid Russian Refining And OPEC+ Restrictions
Oil maintains its increase in value as attention remains on Ukrainian drone assaults targeting Russian refineries and the ongoing supply restrictions imposed by OPEC+. Brent crude hovered around per barrel following a 1.8% surge on Monday, marking its highest closure since late October. Meanwhile, West Texas Intermediate (WTI) remained below . Estimates suggest that approximately 600,000 barrels of Russia's daily refining capacity have been disrupted by the strikes, as indicated by Gunvor Group Ltd., although JP Morgan Chase and Co. approximated the figure to be around 900,000 barrels.
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