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March 28, 2023 / 04:06 PM IST

Closing Bell: Sensex, Nifty end flat amid volatility; mid, smallcaps underperform

The BSE midcap index declined 0.4 percent and the smallcap index fell 0.8 percent.

  • Closing Bell: Sensex, Nifty end flat amid volatility; mid, smallcaps underperform
    Stock Market Today
    Moneycontrol.com
    HIGHLIGHTS
    • 03:22 PM IST

      Citi keeps neutral rating on Tech Mahindra, target Rs 1120

    • 03:18 PM IST

      Indian corporates likely to see 10%-12% capex growth in FY24: Fitch

    • 03:13 PM IST

      UBS keeps buy rating on Indian Hotels, target Rs 400 per share

    • 03:08 PM IST

      Samuel Joseph Jebaraj resigns as deputy managing director of IDBI Bank

    • 02:57 PM IST

      Lemon Tree Hotels opens 5th hotel with 44 rooms in Kerala

    • 02:48 PM IST

      Citi maintains neutral rating on Dalmia Bharat, target Rs 2050

    • 02:24 PM IST

      Adani Group stocks tumble

    • 01:51 PM IST

      Geojit View initiates with Accumulate rating on Torrent Power, target Rs 550

    • 01:34 PM IST

      Morgan Stanley has an 'equal-weight' stance on Aarti Industries, target Rs 484

    • 01:28 PM IST

      Sagar Cements to furnish a corporate guarantee of Rs 665 crore to SBI

    • 01:07 PM IST

      Sensex, Nifty flat in dull session; Tech Mahindra, Bharti Airtel top losers

    • 12:54 PM IST

      G R Infraprojects emerges lowest bidder for two projects worth Rs 1,613.84 crore by NHAI

    • 12:48 PM IST

      Embassy Office REIT to acquire Embassy Business Hub, Bengaluru for Rs 334.8 crore

    • 12:41 PM IST

      Carysil renews contract for supply of quartz kitchen sinks worth $68 million to US firm Karran Inc

    • 12:38 PM IST

      Oracle Credit approves raising funds up to Rs 49 crore via rights issue

    • 12:31 PM IST

      BSE Realty index down nearly 1 percent dragged by Indiabulls Real Estate, Mahindra Lifespace, Phoenix Mills

    • 12:20 PM IST

      CPP Investment completes 2nd tranche of investment in Phoenix Mills subsidiary

    • 12:15 PM IST

      JG Chemicals gets Sebi nod to raise funds for IPO

    • 12:02 PM IST

      Indices trade flat amid volatility; metals shine, power, oil & gas drag

    • 11:42 AM IST

      RITES appoints Deepak Tripathi as Director (Technical)

    • 11:35 AM IST

      Morgan Stanley keeps equal-weight rating on Paytm

    • 11:32 AM IST

      SJVN secures GREEN Financing of Rs 915 crore from Japan Bank for International Cooperation

    • 11:29 AM IST

      Prabhudas Lilladher maintains buy rating on Finolex Industries, target at Rs 224

    • 11:25 AM IST

      Adani Enterprises arm AMG Media Networks acquires 49% stake in QBML for Rs 47.84 crore

    • 11:22 AM IST

      Dovetail India Fund offloads nearly Rs 10 crore shares in Supriya Lifescience

    • 10:45 AM IST

      Oracle Credit hits upper circuit as board approves fundraising plans

    • 10:42 AM IST

      Alps Alpine, Tata Elxsi announce a strategic long-term agreement

    • 10:36 AM IST

      Ugro Capital to consider raising funds via commercial papers on March 30

    • 10:30 AM IST

      Nifty Auto index sheds 0.5 percent dragged by Hero MotoCorp, Tata Motors, Ashok Leyland

    • 10:27 AM IST

      Zydus Lifesciences gets final USFDA approval for Levothyroxine Sodium for Injection

    • 10:25 AM IST

      Allcargo Logistics acquires 30% stake in Gati-Kintetsu Express for Rs 406.70 crore

    • 10:02 AM IST

      Dilip Buildcon shares rise on winning road project in Andhra Pradesh

    • 10:01 AM IST

      Indices erase early gains, trade flat amid volatility

    • 09:54 AM IST

      Morgan Stanley keeps Equal-weight rating on Aditya Birla Capital, target at Rs 163

    • 09:35 AM IST

      BSE Oil & Gas index slips nearly 1 percent dragged by Adani Total Gas, HPCL, BPCL

    • 09:32 AM IST

      BSE Power index sheds 1 percent dragged by Adani Transmission, Adani Green Energy, Adani Power

    • 09:21 AM IST

      PNC Infratech emerges as lowest bidder for road project worth Rs 819 crore

    • 09:20 AM IST

      Aditya Birla Capital exits insurance broking business; to sell its arm to Edme Services

    • 08:48 AM IST

      S&P keeps India economic growth forecast unchanged at 6% in FY24

    • 08:43 AM IST

      Below 16900, Nifty could retest 16850-18815: Shrikant Chouhan

    • 08:39 AM IST

      Avalon Tech sets price band for Rs 865-crore IPO at Rs 415-436 per share

    • 08:33 AM IST

      Expect a range of 82.00 and 82.65 on USDINR spot: Anindya Banerjee

    • 08:31 AM IST

      NDTV appoints Upendra Kumar Sinha as non-executive chairperson & additional director

    • 08:27 AM IST

      Current weakness may take the Nifty towards 16,750 over the short term: Rupak De

    • 08:24 AM IST

      HDFC plans to raise Rs 57,000 crore through private placement ahead of merger with HDFC Bank

    • 08:15 AM IST

      Initial target for Nifty at 17,200 and above that it can extend higher to 17,450 – 17,500: Jatin Gedia

    • 08:12 AM IST

      Aditya Birla Capital to sell off insurance broking arm to Edme Services

    • 08:04 AM IST

      Kalyan Jewellers block deal to see 2.5% stake of Warburg Pincus changing hands

    • 07:58 AM IST

      Gold slips more than 1% as risk appetite improves

    • 07:41 AM IST

      Safe-haven dollar slides as bank fears ease; yen surges

    • 07:39 AM IST

      Oil prices little changed; supply concerns, banking crisis in focus

    • 07:34 AM IST

      Asian markets trade mostly higher; Hang Seng, Straits Times up 0.5% each

    • 07:30 AM IST

      S&P 500 ends up slightly; SVB deal lifts bank shares

    • 07:27 AM IST

      SGX Nifty indicates a positive start for the Indian indices

  • IndexPricesChangeChange%
    Sensex57,613.72-40.14 -0.07%
    Nifty 5016,951.70-34.00 -0.20%
    Nifty Bank39,567.90136.60 +0.35%
    Nifty 50 16,951.70 -34.00 (-0.20%)
    Tue, Mar 28, 2023
    Biggest GainerPricesChangeChange%
    IndusInd Bank1,036.1523.30 +2.30%
    Biggest LoserPricesChangeChange%
    Adani Enterpris1,600.85-122.20 -7.09%
    Best SectorPricesChangeChange%
    Nifty Bank39567.90136.60 +0.35%
    Worst SectorPricesChangeChange%
    Nifty Auto11917.95-117.15 -0.97%


  • March 28, 2023 / 04:16 PM IST

    Ajit Mishra, VP - Technical Research, Religare Broking

    Markets traded lackluster and ended marginally in the red, in absence of any major trigger. Initially, the Nifty index opened with an uptick but the gains fizzled out in no time and it remained range bound thereafter.

    A mixed trend was witnessed on the sectoral front wherein realty, IT and auto continue to reel under pressure while resilience in select banking and financial majors capped the damage. Amid all, the broader indices remained under pressure and lost in the range of 0.4%-0.9%.

    We expect volatility to remain high due to the scheduled expiry of March month derivatives contracts. On the index front, participants have been trying to defend 16,900 in Nifty for the last three sessions and its breakdown may trigger a sharp reaction on the downside. Needless to say, the recent sell-off in the broader indices may deteriorate further. We thus reiterate our view to limit trade and maintain positions on both sides.

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  • March 28, 2023 / 04:06 PM IST

    Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities

    Amid volatile moves in intra-day trades, key indices ended marginally lower and under-performed most of its Asian peers. Barring gains in select banking and metal stocks, other sectors witnessed profit-taking as caution prevailed ahead of the F&O expiry on Wednesday.

    Technically, from the last three days the Nifty is taking support near 16,900 and resistance near the 17,100 level.

    For the index, 16,900 would act as a key support level and on further uptick it could retest the level of 17,050-17,100. On the flip side, a fresh sell-off is possible only after the dismissal of 16,900 and below the same the index could slip till 16,820- 16,800.

  • March 28, 2023 / 04:03 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services

    Indian markets continued to stay in the grip of bears as investors remained cautious in expectation of further tightening from the RBI. While global market sentiment has been improving as the fears of broader contagion from the banking turmoil fade. Back home, Nifty small and midcap stocks continued to underperform due to fall in investors risk appetite and FY23 tax harvesting.

  • March 28, 2023 / 03:56 PM IST

    Deepak Jasani, Head of Retail Research, HDFC Securities

    Nifty fell marginally on March 28 ahead of the fiscal year end. At close, Nifty was down 0.20% or 34 points at 16951.7. Broad market indices fell more than the Nifty as advance decline ratio remained negative at 0.38:1.

    Global stocks mostly rose as concern over broader contagion from the banking turmoil eased.

    Nifty closed at almost a five and half month low and in the process underperforming the other markets over the last few sessions. 16747-17045 could be the trading range for the Nifty in the near term. Tax loss related sales could have come to an end and we may soon see Indian markets performing in line with other markets.

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  • March 28, 2023 / 03:42 PM IST

    Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas

    Nifty witnessed yet another day of rangebound price action. It consolidated between 16,900 – 17,100 for the third consecutive day. On the hourly charts Nifty is trading in between 16,910 – 16,970 where the 61.82% and 78.6% Fibonacci retracement levels of the previous rise from 16,828 – 17,207 are placed.

    We believe that it is a make or break zone and if at all the pullback rally has to resume it is likely to be from hereon. The daily and the hourly momentum indicators have a positive crossover which is a buy signal. Thus, both price and momentum indicator suggest positive price action over the next few trading sessions.

    On the upside initial targets are placed at 17,200 and above that it can extend higher to 17,450 – 17,500. The crucial support zone is placed at 16,910 – 16,870.

  • March 28, 2023 / 03:33 PM IST

    Rupee Close:

    Indian rupee closed 18 paise higher at 82.19 per dollar against previous close of 82.37.

  • March 28, 2023 / 03:33 PM IST

    Market Close

    : Benchmark indices ended lower in a volatile session on March 28.

    At close, the Sensex was down 40.14 points or 0.07% at 57,613.72, and the Nifty was down 34 points or 0.20% at 16,951.70. About 1020 shares advanced, 2438 shares declined, and 97 shares unchanged.

    Adani Enterprises, Adani Ports, Tech Mahindra, Tata Motors and Hero MotoCorp were among the top Nifty lower, while gainers included IndusInd Bank, UPL, Power Grid Corporation, Dr Reddy's Laboratories and HDFC Bank.

    Except metal, all other sectoral indices ended in the red with IT, auto, power, realty and oil & gas down 0.8-1 percent.

    The BSE midcap index declined 0.4 percent and the smallcap index fell 0.8 percent.

  • March 28, 2023 / 03:22 PM IST

    Citi View On Tech Mahindra 

    -Neutral call, target at Rs 1,120 per share
    -Industry view is cautious in a tough macro
    -Have room to improve margin in medium term, positioned better than peers
    -Market will focus on pace of turnaround, which can potentially take time

    Tech Mahindra was quoting at Rs 1,069.80, down Rs 32.40, or 2.94 percent.

  • March 28, 2023 / 03:18 PM IST

    Indian corporates likely to see 10%-12% capex growth in FY24: Fitch

    The rising capital expenditure (capex) trend of Indian corporates is likely to continue and grow at 10%-12% a year during the next fiscal year to March 2024, Fitch Ratings said in a release on Tuesday.

    Fitch said capex was flat over FY19 to FY21 and grew 16% in FY22. The forecasts are for the 8 state owned enterprises and 21 privately held Fitch-rated corporates in the country.

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  • March 28, 2023 / 03:13 PM IST

    UBS View On Indian Hotels 

    -Buy call, target at Rs 400 per share
    -There might be some pent-up demand but no signs of momentum slowing down
    -Pricing remained strong even in Q4 & visibility through mid-May is also quite good
    -Management sees scope for 8-10% increase in India domestic ARR in H2FY24

    Indian Hotels Company was quoting at Rs 312.10, up Rs 7.30, or 2.40 percent.

  • March 28, 2023 / 03:10 PM IST

    Rajsri Rengan, India Head of Development, Banking and Payments, at FIS

    The new interoperability guidelines for prepaid payment instruments announced by the NPCI is a significant step towards building a more inclusive and seamless digital payments ecosystem in India. The interoperability of digital wallets and UPI can be a game-changer for the Indian fintech industry, as it opens up new opportunities for innovation, growth, and competition. With greater interoperability between payment systems, consumers will have more choice and flexibility in how they transact with merchants, leading to increased adoption of digital payments and ultimately driving financial inclusion and economic growth.

    This move will also encourage innovation in the digital payments space, fostering competition and improving the quality of services offered to consumers. We believe this is a positive development for the Indian economy and the banking system as a whole, and we look forward to continuing to support the growth and development of digital payments in India.