Stock Market Live Updates: Nifty Below 22,350, Sensex Down 600 Pts; All Sectors In Red

The key indices saw severe sell-off pressure during Monday's closing session, with Sensex ending 616.75 points, or (0.83%), down at 73,502.64 and Nifty ending 175.15 points, or (0.78%) worse at 22,318.40. Each sector ended up in the red, with the media and metal industries suffering the most.

Sensex and Nifty traded in red with smallcap stocks witnessing sharp selling. On the other hand, Midcaps were top performers. The 30-scrip benchmark ranged from 74,187.35 to 73,828.19 so far, while the 50-scrip index performed between 22,526.60 to 22,424.20. The latest pullback is due to bearish global trends. At 3.02 PM IST, the top 5 winners in the Nifty pack were APOLLOHOSP, NESTLEIND, CIPLA, BAJAJFINSV and SBILIFE whereas the top 5 losers were TATACONSUM, POWERGRID, TATASTEEL, BAJAJ-AUTO and SBI.

Analysts expect the trend of the market to be under pressure in the near term.

BSE smallcap index nosedived by 454 points or 1.02%. Here, stocks like BCL Industries, Sigachi Industries, JTL Industries, Balu Forge Industries, Tata Chemicals, JM Financials were top bears.

Meanwhile, BSE Midcap surged 143 points or 0.4%. Stocks like Torrent Power, Trent, Solar Industries, Torrent Pharma, and Sona BLW Precision Forgings were top gainers, listing the overall performance of the index.

Among the large-caps, stocks like Nestle, Bajaj Finserv, Bharti Airtel, Sun Pharma and Ultratech Cement were top gainers. Meanwhile, Tata Steel, Power Grid, IndusInd Bank, L&T, Tata Motors, and Infosys were top bears.

US labour market data supports Views on the Fed's "no rush" rate cut

On Friday, officials at the Federal Reserve who are considering when to begin reducing interest rates were given another justification to hold off after a government report revealed strong job creation in February along with indications of a cooling labour market, which might aid the Fed in its fight against inflation.

According to a Labour Department data released on Friday, US companies added 275,000 jobs last month, easily exceeding the 200,000 experts had predicted.

Wall Street breaks records, with falls led by the Nasdaq

After hitting record highs during the session, the S&P 500 and Nasdaq ended the day lower due to a combination of high-flying chip companies that reversed course and a mixed labour market data that showed more new jobs than anticipated along with a growing unemployment rate.

The S&P 500 lost 33.67 points, or 0.65%, to 5,123.69, the Nasdaq Composite lost 188.26 points, or 1.16%, to 16,085.11, and the Dow Jones Industrial Average slid 68.66 points, or 0.18%, to 38,722.69.

Bitcoin reaches a record high of more than $70,000

In erratic trading on Friday, Bitcoin surged to a record high as the investment community continued to be enthralled by cryptocurrency.

The top cryptocurrency crossed the $70,000 threshold for the first time thanks to investor demand for new exchange-traded crypto products that are spot-priced in the United States and hopes that interest rates will decline globally.

LIVE Feed

Mar 11, 2024, 2:58 pm IST

EaseMyTrip signs a MoU with the Ministry of Rural Development to empower members of Self Help Groups

In order to train members of Women's Self Help Groups (SHGs) under the Lakhpati Didi Yojana of Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM) to focus on women-led skill development, enabling them to nurture their entrepreneurial skills and become financially independent, EaseMyTrip.com today signed a Memorandum of Understanding (MoU) with the Ministry of Rural Development. EaseMyTrip aims to empower members of SHGs in 800 districts nationwide with this strategic move.

Mar 11, 2024, 1:59 pm IST

Sonata Soft Announces Sonata Harmoni.AI Integration With Microsoft Azure AI

Sonata Software has revealed the incorporation of Sonata Harmoni.AI with the Microsoft Azure AI service. This integration enhances Sonata's partnership with Microsoft Fabric and reinforces its role as a member of the Microsoft AI Partner Council.

Mar 11, 2024, 1:19 pm IST

SJVN Signs PUA For 500 MW Solar Power & PPA For 100 MW With RUVITL

SJVN Green Energy (SGEL), a subsidiary of SJVN, has recently entered into a Power Usage Agreement (PUA) for 500 MW of solar power and a Power Purchase Agreement (PPA) for an additional 100 MW of solar power in collaboration with Rajasthan Urja Vikas and IT Services (RUVITL).

Mar 11, 2024, 12:38 pm IST

India Glycols Adds 270 KLPD Capacity To Bio-Fuel Ethanol Plant In Uttarakhand

India Glycols has expanded its bio-fuel ethanol plant in Kashipur, Uttarakhand, by adding a substantial capacity of 270 KLPD (kilo liters per day). With this successful enhancement, the total capacity for bio-fuel ethanol production at the plant has now reached an impressive 410 KLPD and is fully operational.

Mar 11, 2024, 11:49 am IST

Adani Green Stock In Focus

Adani Green Energy, India's largest renewable energy company, on Monday achieved a significant milestone with the operationalization of 1,000 MW (1 GW) of solar energy capacity at the Khavda renewable energy park in Gujarat. This accomplishment represents the fastest greenfield solar capacity addition in India's renewable sector and underscores Adani Green Energy's commitment to accelerating the country's transition to clean energy.

Mar 11, 2024, 11:22 am IST

Indigo Share Price

InterGlobe Aviation, the parent company of India's leading airline, IndiGo, witnessed a 3% decline in its shares, reaching Rs 3,020 per share, following a block deal involving 2.6 crore shares on March 11. This block deal represented a 6.7% stake, with a total transaction value of Rs 7,823 crore.

Mar 11, 2024, 10:56 am IST

Why Stock Market Is Down Today?

Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services: The dominant trend in the market in the near-term is likely to be the underperformance of the broader market, particularly the small cap space. Since restraint imposed by some mutual funds by stopping lump sum investment into their small cap schemes has failed to stem the flow of funds into the over valued small -cap segment, SEBI has stepped in with regulatory action asking the mutual funds to do stress tests in their mid and small cap schemes. More follow up actions are likely from the regulator to prevent a bubble formation in the broader market and its inevitable burst. Since the market is scaling new highs consistently, the undertone of the market remains bullish and, therefore, investors should remain invested. Large caps are likely to witness buying on dips while the broader market will face headwinds.

Mar 11, 2024, 10:54 am IST

Midcaps Top Performers

BSE Midcap surged 143 points or 0.4%. Stocks like Torrent Power, Trent, Solar Industries, Torrent Pharma, and Sona BLW Precision Forgings were top gainers, listing the overall performance of the index.

Mar 11, 2024, 10:54 am IST

Smallcaps Take Massive Hit

BSE smallcap index nosedived by 454 points or 1.02%. Here, stocks like BCL Industries, Sigachi Industries, JTL Industries, Balu Forge Industries, Tata Chemicals, JM Financials were top bears.

Mar 11, 2024, 10:41 am IST

Bitcoin Retracts After Hitting 70,000 Dollars Mark

Shivam Thakral, CEO of BuyUcoin, said that India’s second-longest-running digital asset exchange stated that after completing its highest weekly candle close ever above ,000, Bitcoin is now hovering around ,000 and seems to be consolidating in this range. The biggest Spot ETF which fueled this recent rally, BlackRock’s bitcoin exchange-traded fund, has reached billion faster than any US ETF in history. We could see Ethereum break the 00 resistance level as the dencun upgrade, which is expected to decrease fees on the Layer2 Blockchains, is less than 2 days away.

Mar 11, 2024, 10:15 am IST

PSU Dividend Stocks

Five PSU stocks are in focus ahead of their dividend announcements. On Monday, in early deals, Oil India stock jumped by 2% to hit an intraday high of Rs 642.80 apiece, nearing its 52-week high of Rs 647.40 apiece. Meanwhile, BEL surged by 0.7% to intraday high of Rs apiece, which was close to 52-week high of Rs 216.70 apiece. BDL shares surged by 1.7% to hit an intraday high of Rs 1829.70 apiece. Further, REC shares advanced over 1% to an intraday high of Rs 477.40 apiece. Also, PFC shares gained to hit an intraday high of Rs 432.15 apiece.

Mar 11, 2024, 9:55 am IST

Maharashtra's 306 MW of grid-connected solar PV projects have been awarded to Torrent Power

The Maharashtra State Electricity Distribution Co. has sent Torrent Power a Letter of Award for the establishment of 306 MW of grid-connected solar PV projects in Nasik, Maharashtra, with a kWh pricing. INR 1,540 crore is the project's cost. Under the Mukhya Mantri Saur Krushi Vahini Yojana 2.0 programme, the company would deliver 306 MW of solar power for feeder level solarization under the PM KUSUM programme.

Mar 11, 2024, 9:36 am IST

Government should use the oversubscription option for the offer for sale problem, according to NLC India

On March 11, in addition to the 5% equity (the basic offer size), the Government of India has chosen to exercise the oversubscription option to the extent of 2% equity. Consequently, the entire amount of equity shares up for grabs (OFS) will now be 9,70,64,562, or 7% of the total paid-up equity.

Mar 11, 2024, 9:28 am IST

Rupee falls 0.73 paise against US Dollar in morning trade

Indian rupee declined by 0.73 paise against US Dollar in morning trade on Monday.

Mar 11, 2024, 9:05 am IST

Pre-Open Market:

During the pre-opening session, benchmark indices are trading steady. The Nifty was up 11.00 points, or 0.05 percent, at 22,504.50, while the Sensex was up 240.17 points, or 0.32 percent, at 74,359.56.

Mar 11, 2024, 8:50 am IST

Forex Reserves in India Increase by .55 Billion to 5.63 Billion

The Reserve Bank of India reported on Friday that during the week ending March 1, India's foreign exchange reserves increased by USD 6.55 billion to USD 625.626 billion. The total reserves increased by USD 2.975 billion to USD 619.072 billion during the preceding reporting week.

Mar 11, 2024, 8:38 am IST

The Interim Dividend of Rs 2.70 for FY2023–2024 is Approved by the SBI Life Insurance Board

SBI Life Insurance Company's Board of Directors announced an interim dividend of Rs 2.70 per equity share, constituting 27% of the face value of Rs 10 each. This dividend, declared for the Financial Year 2023-24, underscores the company's commitment to rewarding its shareholders. SBI Life Insurance continues to demonstrate strong financial performance and shareholder value creation through such measures.

Mar 11, 2024, 8:25 am IST

Concerns about loan Applications Approved by JM Financial Products are Brought up by Sebi

The market regulator expressed concerns about the loan applications submitted by investors who had subscribed to a debt issue through JM Financial Products Limited (JMFPL). Among other things, it was discovered that some applicants had not had their advance margin collected, that documentation appeared to be falsified, and that loans had been given out that were out of proportion to their income. In an interim order on JM Financial, the parent firm of the non-banking financial enterprise JMFPL, the Securities and Exchange Board of India (Sebi) took note of this on March 7.

Mar 11, 2024, 8:13 am IST

The Largest SME IPO Ever, KP Green Engineering, is Scheduled to Debut on Dalal Street on March 15

The maker of fabricated and hot-dip galvanised steel products, KP Green Engineering, will launch the largest initial public offering (IPO) in the history of SME (small and medium company) this coming week on March 15. The anchor book will open for one day on March 14 and the initial public offering of 1,31,60,000 equity shares will close on March 19. By means of its public offering at the top price range, which will only include a new issue without an offer-for-sale component, the business hopes to raise Rs 189.5 crore.

Mar 11, 2024, 8:04 am IST

Co-founder of IndiGo Rakesh Gangwal Wants to use a Block Transaction to Raise 0 M

The USFDA's EIR report for the inspection of the API Ahmedabad facility was sent to Zydus Lifesciences. The USFDA had previously sent the company a Post Application Action Letter for the same inspection, stating that the facility under inspection had been deemed ready to produce and distribute the API on a commercial basis. After being inspected from December 14 to 22, 2023, this facility was given the classification of Voluntary Action Indicated (VAI).