BSE in Mumbai. (Express photo by Ganesh Shirsekar)Share/Stock Highlights: The benchmark equity indices on BSE and National Stock Exchange (NSE) ended around 1 per cent lower on Tuesday led by a last-hour selloff in market heavyweights Reliance Industries (RIL), Housing Development Finance Corporation (HDFC) and Infosys.
The S&P BSE Sensex fell 554.05 points (0.90 per cent) to end at 60,754.86 while the broader Nifty 50 crashed 195.05 points (1.07 per cent) to settle at 18,113.05. Both the indices had opened marginally higher and swung back and forth through most part of the trade before dipping towards the last hour of trade.
On the BSE benchmark, Maruti Suzuki India was the top loser of the day crashing over 4 per cent. It was followed by UltraTech Cement, Tech Mahindra, HCL Technologies, Tata Steel and IndusInd Bank. On the other hand, Axis Bank, HDFC bank, ICICI Bank, Kotak Mahindra Bank and Dr. Reddy’s Laboratories managed to end on a higher note.
Market participants will now look forward to a press conference by Finance Minister Nirmala Sitharaman later in the day. The FM will address a press conference at 4:30 pm today on an “important economic issue”.
(with inputs from agencies)
"Following a weak lead from the global markets, domestic indices witnessed a highly volatile trade ahead of the press conference by the Finance Minister today. Surge in oil prices and FIIs turning net sellers also added volatility in the domestic market. Globally, markets witnessed selling pressure following a surge in US treasury yield amid rate hike worries while oil prices rose on supply tension owing to the drone attack on UAE."
The S&P BSE Sensex ended at 60,754.86, down 554.05 points or 0.90 per cent, while the Nifty 50 settled at 18,113.05, down 195.05 points or 1.07 per cent.
Shares of domestic telecom gear maker HFCL on Tuesday tumbled nearly 9 per cent after the company posted 4.7 per cent decline in consolidated profit for the third quarter ended December 31, 2021.
The stock declined 8.60 per cent to Rs 88.10 on the BSE. At the NSE, it tumbled 8.56 per cent to Rs 88.10. Click here to read
Finance Minister Nirmala Sitharaman will address a press conference today at 4:30 pm on an 'important economic issue'
In Mumbai’s sleek skyscrapers, harried bankers race the clock to appraise a company that hasn’t been valued in decades. Bureaucrats burn the midnight oil in New Delhi, working through power cuts to pull together an initial public offering to rival any in Asia this year. And across the hinterland, front-page newspaper ads alert more than 250 million policy holders of the chance to own a piece of a company nearly as old as post-independence India. Click here to read
Ahead of the Union Budget, banks have pushed for lowering fixed deposit (FD) tenure from five years to three years for availing tax benefits as applicable in the case of mutual fund products like equity-linked savings scheme (ELSS).
On the other hand, the Association of Mutual Funds in India (AMFI) has asked the government to allow the introduction of debt-linked saving scheme (DLSS) with tax benefits on the lines of five-year bank deposits. Click here to read
The rupee declined by 18 paise to 74.43 against the US dollar in opening trade on Tuesday, as strong American currency and elevated crude oil prices weighed on investor sentiments.
At the interbank foreign exchange, the rupee opened weak at 74.36 against the US dollar, then fell further to 74.43 against the greenback in early deals, registering a decline of 18 paise from the last close. On Monday, the rupee declined by 10 paise to close at 74.25 against the US currency.
(PTI)
Domestic telecom gear maker HFCL on Monday posted 4.7 per cent decline in consolidated profit to Rs 81.1 crore for the third quarter ended December 31, 2021 mainly on account of hike in component prices, specially semiconductors.
The company had posted a profit after tax of Rs 85.11 crore in the same period a year ago. Click here to read
Markets regulator Sebi is examining introducting an alternate dispute resolution mechanism, with an aim to provide an effictive system for settling disputes between investors and regulated entities, a release said on Monday.
The Securities and Exchange Board of India (Sebi), in November last, published the ‘Investor Charter’ for securities markets to further strengthen its efforts to protect investor interests, promote transparency in markets and enhance awareness, trust and confidence among investors. Click here to read
Asian shares were mostly higher Tuesday in the absence of big market-moving news following a national holiday in the US.
Benchmarks in Japan, China and Australia rose in early trading, but shares fell in South Korea. US futures edged higher. US markets were closed Monday for Martin Luther King Day.
Japan's benchmark Nikkei 225 rose 0.9% to 28,593.40. Australia's S&P/ASX 200 gained 0.1% to 7,424.60. South Korea's Kospi edged down 0.1% to 2,887.47. Hong Kong's Hang Seng added 0.3% to 24,296.64, while the Shanghai Composite rose 0.4% to 3,554.23.
(AP)
The S&P BSE Sensex gained 138.57 points to 61,447.48 in opening deals, while Nifty rose 35.50 points to 18,343.60.
(PTI)
Welcome to the markets live blog by Indian Express.