Share Market HIGHLIGHTS: Nifty crashes over 100 pts to break below 17,000, Sensex sheds 361 pts for day
Share Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 started the week on a lower note, amid mixed moves across other Asian markets even as the news of a buyout for the troubled Credit Suisse brought a sigh of relief for investors around the globe after days of wild swings in financial shares already battered by the sudden collapse of SVB.
Catch all the highlights of the March 20 session on Dalal Street, 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:
Share Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 started the week on a lower note, amid mixed moves across other Asian markets even as the news of a buyout for the troubled Credit Suisse brought a sigh of relief for investors around the globe after days of wild swings in financial shares already battered by the sudden collapse of SVB.
Catch all the highlights of the March 20 session on Dalal Street, 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 loses over 100 pts to give up 17,000, Sensex falls 361 pts to end at 57,629
Both headline indices finish the day with losses of 0.6-0.7 per cent. The Sensex ends down 361 points at 57,629 and the Nifty settles at 16,988.4, down 111.7 points from its previous close.
Here's how the indices moved through the day:
Nifty50
Sensex
Read more on the March 20 session
Stock Market Tips LIVE | Mehul Kothari shares weekly Nifty Bank option bull call spread strategy
Mehul Kothari of Anand Rathi Shares & Stock Brokers shares a bull call spread market strategy using Nifty Bank options:
He suggests buying the 39,500 Nifty Bank call option at Rs 200 and selling the 40,000 call option of the banking index at Rs 80.
- Maximum risk: 120 pts
- Gain: 300 pts
Gold Rate LIVE | Yellow metal futures surge by Rs 1,072 to all-time high, going all the way to Rs 60,500 per 10 grams
Gold Rate LIVE | Yellow metal futures surge by Rs 1,072 to all-time high, going all the way to Rs 60,500 per 10 gramsOn MCX, near-month gold futures jump by Rs 1,072 or 1.8 per cent to touch a record high of Rs 60,455 at the strongest level of the day. With that, the gold contract also surpassed the psychologically-important Rs 60,000 mark for the first time ever.
Sensex LIVE | Almost all of the 30 blue chips in the red; Bajaj twins, Tata Motors, Tata Steel, Tech Mahindra, Wipro worst hit
Nifty LIVE | Reliance, TCS, Infosys, HDFC Bank, ICICI Bank top drags
Here's a look at the heatmap:
Nifty LIVE | Headline index slides below 16,900 amid market-wide sell-off; RIL, Infosys, TCS, HDFC Bank top drags
Nifty LIVE | Headline index slides below 16,900 amid market-wide sell-off; RIL, Infosys, TCS, HDFC Bank top drags The 50-scrip index drops as much as 218.5 points or 1.3 per cent to 16,881.6.
Glenmark gets USFDA nod to market generic medication; minor dip in shares
Glenmark Pharmaceuticals on Monday said it has received approval from the US health regulator to market a generic product used to treat schizophrenia and in some cases to control severe nausea. The company has received nod from the US Food & Drug Administration (USFDA) for Prochlorperazine Maleate Tablets USP, 5 mg and 10 mg, the Mumbai-based drug maker said in a statement. The company's product is the generic version of GlaxoSmithKline's Compazine tablets, it added. According to IQVIA sales data for the 12-month period ending January 2023, the Compazine tablets 5 mg and 10 mg achieved annual sales of around USD 26.9 million. Glenmark said its current portfolio consists of 182 products authorised for distribution in the US marketplace and 46 ANDAs (Abbreviated New Drug Applications) pending approval with the USFDA. At 10.34 am, the Glenmark stock quoted at Rs 438.50 on NSE.
These three stocks to turn ex-dividend, ex-split today - check details
HAL, Ujjivan Financial Services will trade ex-dividend and Continental Securities will trade ex-split today, March 20, according to the BSE website. Typically, the price of a stock is adjusted when a company distributes dividend and splits equity shares. READ MORE
Adani Enterprises tumbles 3.6% as Gautam Adani-led group suspends work on Rs 34,900 cr petrochemical project
Adani Enterprises Ltd shares tumbled more than 3.6% in trade on Monday, March 20, as the billionaire Gautam Adani-led conglomerate suspended Rs 34,900 crore petrochemical project work at Mundra in Gujarat as it focuses on resources to consolidate operations and address investor concerns following a damning report by a US-based short seller. Adani Enterprises stock price quoted at Rs 1,812.85 on NSE at 9.58 am.
RVNL share price jumps nearly 1.5% on mega rail order win
Share price of Rail Vikas Nigam Ltd (RVNL) jumped 1.5 per cent on Monday as the company bagged a mega railway line order bid of Rs 1,088.49 crore. At 9.49 am, RVNL share price quoted at Rs 63.90, up by 1.5% after opening at Rs 63.75. RVNL has emerged as the lowest bidder (L1) for the composite contract package in connection for the new BG railway line of the HORC project of the Haryana Rail Infrastructure Development Corporation.
Anil Singhvi strategy March 20: Key share market triggers, important levels to watch in Nifty50, Nifty Bank
Zee Business Managing Editor Anil Singhvi shares his strategy for the March 20 session. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market. READ MORE
Sensex falls 490 points, Infosys, RIL, HDFC twins, TCS top drags
The 30-share benchmark BSE Sensex dropped more than 490 points, or 0.85 per cent, trading at 57, 496 at 9.23 am. All 30 stocks on indices traded in the red with Tata Steel, M&M, Tata Motors and IndusInd Bank falling by up to 1.5 per cent. Index heavyweight Infosys, Reliance Industries, HDFC Bank, TCS and HDFC contributed the maximum to the frontline BSE index's fall.
INR vs USD: Rupee rises 10 paise to 82.49 against US dollar in early trade
Opening Bell: Nifty, Sensex open lower tracking weak global cues amid UBS sealing deal to acquire Credit Suisse
BSE Sensex and NSE NIfty50 started Monday's trade lower tracking weak global cues even as the Credit Suisse crisis seemed to be moving towards a resolution with UBS sealing a deal to acquire the former.
Markets regulator SEBI takes cautious approach in IPO clearance, returns draft paper of these 6 companies
Taking lessons from Paytm's IPO fiasco episode, SEBI is taking a cautious approach while giving clearance to the initial share sales. In over last two months, the Securities and Exchange Board (SEBI) of India returned the preliminary papers of half a dozen companies, including Oravel Stays, which operates hospitality chain OYO. READ MORE