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Indian equity benchmarks extended rout for the third consecutive trading session amid a global selloff triggered by the escalating crisis in the Middle East. The BSE Sensex fell over 1,500 points at the open to 78,663, while the NSE Nifty 50 fell over 500 points or more than 2% to 24,366. The rupee depreciated as much as 55 paise at the open and weakened to a record low at 92.02 against the US dollar.
Among the stocks moving the markets today, Bharat Electronics traded around flat after moving between gains and losses, while HAL fell as much as 2% to Rs 3,870. L&T extended its decline to 7% amid concerns over order execution linked to the Middle East situation. Tejas Networks rose as much as 9% and is up over 55% in the last three sessions after its 5G radio deal with NEC.
Steel Exchange of India has raised Rs 350 crore via preferential issue of warrants to non-promoter entities. The issue price is Rs 9.45 per warrant.
The tenure of the warrants shall not exceed 18 (eighteen) months from the date of allotment. Each Share Warrant shall carry a right to subscribe 1 (one) Equity Share, which may be exercised in one or more tranches during the period commencing from the date of allotment of warrants until the expiry of 18 (eighteen) months from the date of allotment of the warrants.
The Sedemac Mechatronics IPO has been booked 1% as of noon.
The grey market premium (GMP) for the Sedemac Mechatronics IPO stood at Rs 17 lower than the upper limit of the issue price at 11:30 a.m. on March 4, according to InvestorGain. The latest GMP indicates an estimated listing price of Rs 1,335 per share, at a discount of 1.26% over the upper limit of the issue price of Rs 1,352.


Source: Bloomberg
Higher crude prices linked to the Middle East crisis weigh on the oil and gas sector.




The rupee depreciated as much as 55 paise at the open and weakened to a record low at 92.02 against the US dollar.
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