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Market breadth was skewed in the favour of buyers. As many as 2,241 stocks rose, 1,702 stocks declined, and 106 remained unchanged on the BSE.
The NSE Nifty 50 and BSE Sensex settled at the lowest level since Nov 22.
The Nifty 50 and Sensex witnessed the steepest fall in over three weeks.
The NSE Nifty IT index declined 2.62% to 42,864.80 during the session. It's the worst performing sector. It ended 2.39% down at 42,968.75.
The NSE Nifty PSU Bank was the best performing sector. It ended 0.93% higher at 6,846.85.
The NSE Nifty Midcap 150 ended flat at 20,839.90.
The NSE Nifty Smallcap 250 ended 0.14% higher at 17,577.85.
“Market tanks sharply on high geopolitical developments escalating news on the Russia-Ukraine war again. As per some social media reports Energy infrastructure is once again targeted by the enemy's massive strike," Ukrainian Energy Minister. Last week markets were coming out of the Lebanon ceasefire, but the closing remarks were a bit hawkish," said Prashanth Tapse, a senior vice president, research, Mehta Equities.
It's an Future & Options expiry day, and such headlines bring a lot of volatility in the market. A technical close below 23,800 would be a make-or-break level for Nifty. I expect markets to trade sideways with negative biased pressure. On the resistance side, 24,350 acts as strong resistance; any close above this can turn the market mood," Tapse said.
AU Small Finance Bank Ltd. has entered into a strategic bancassurance partnership with Bharti AXA Life Insurance, the lender said in an exchange filing.
Life Insurance Corp of India clarified on the news that it's acquiring stakes in ManipalCigna. The insurance company is evaluating and exploring various strategic opportunities in sectors like health insurance, but there is no material information that requires disclosure, it said in an exchange filing.
Rupee Recovers From Record Low To End Flat Against US Dollar
Servotech Power System Ltd. has received a 5.6 megawatt on-grid rooftop solar power plant project from UREDA, according to an exchange filing.
The benchmark Sensex erased most of the gains it had made throughout the week, experiencing a decline of up to 1.3% during intraday trading on Thursday. Read full article here.
Paisalo Digital's FCCB Committee has approved raising up to $75 million through the issuance of secured foreign currency convertible bonds, according to an exchange filing.
Thomas Cook (India) Ltd.'s arm, Sterling Holiday, has launched the upscale boutique resort, Sterling Lontano Waterfront, in Wayanad, the company said in an exchange filing.
GAIL(India) Ltd. has re-engaged the process licensor for the revival of the PTA manufacturing plant in Mangalore, according to an exchange filing.
NTPC Green Energy Ltd. has announced the commercial operation of the first part capacity of 55 megawatt at the Shajapur Solar Project, the company said in an exchange filing.
Ajmera Realty & Infra India Ltd. has repaid a corporate debt of Rs 100 crore through a recent equity offering, as stated in an exchange filing.
Tilaknagar Industries has launched the Monarch Legacy Edition as part of its foray into the luxury brand segment, the company said in an exchange filing.
Tata Consultancy Services Ltd. has entered into a partnership with IIT KGP to launch an advanced research centre focused on innovation in digital health, robotics, and intelligent systems, the company said in an exchange filing.
BEML Shares Jump On Rs 2,500-Crore Order Win From Chennai Metro
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The Securities and Exchange Board of India is preparing a proposal of stricter eligibility norms for Authorized Persons, who operate on behalf of brokers. The upcoming regulations will impose increased liability on brokers for defaults made by their sub-brokers, according to people familiar with the matter.
HDFC Bank Share Price Hits All-Time High After Surging For Second Consecutive Day
Vietjet Thailand has partnered with AirGain, Rategain Travel Technologies Ltd.'s advanced pricing intelligence platform, to enhance fare precision and strengthen its market leadership. This partnership was announced in an exchange filing on Thursday.
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Market breadth was skewed in favour of buyers. Around 2,043 stocks advanced, 793 stocks declined, and 125 stocks remained flat.
At pre–open, the NSE Nifty 50 was 0.75 points down at 24,274.15, and the BSE Sensex was 0.06% higher at 80,281.64.
The yield on the 10-year bond opened flat at 6.83%. It closed at 6.84% on Wednesday, according to data on Bloomberg.
Rupee opened flat at 84.44 against the US dollar. It closed at 84.45 on Wednesday, according to data on Bloomberg
The second quarter is slower on lack of inventory vs demand concerns
Approvals remain key to meet FY25 guidance
New land acquisitions necessity to sustain growth momentum
Believes collections and operating cash flows improving gradually
Commentary from industry players suggests healthy demand
Maintain Buy on:
Godrej Properties, TP Rs 3,700 (+30.6% upside)
SOBHA, TP Rs 2,150 (+30.1% upside)
DLF, TP Rs 1,010 (+22.6% upside)
Prestige Estates, TP Rs 1,800 (+10.5% upside)
Maintain Hold on:
Oberoi Realty, TP Rs 2,050 (2.9% upside)
Rated Outperform with a target of Rs 590 upside potential 29%
Outperform rating based on its strong market position and operational efficiency.
Dominates Uttar Pradesh’s retail health insurance market with a 50% market share
Has a better-than-average loss ratio in the state.
Smooth processes, fast policy issuance, and strong agent training boosted agent preference.
New "Pratham Hospital Network" to address challenges with hospitals
Cohort-based pricing may ease customer affordability and deter fraud despite challenges.
Hotel business in focus post demerger in Q4FY25
No.2 player in hotels space considering Rev/EBITDA/room inventory profile
Targets growth from greenfield commissioning in recent yrs
Targets 1 hotel opening a month with management contracts
ITC hotels currently 4% of SOTP Valuation of ITC Ltd, may unlock post listing
India is likely to be multi-powertrain before electrifying
High government subsidies for EVs are currently unsustainable.
Hybrid car emissions are lower than EVs
Despite subsidies, EV market penetration remains low, while hybrids present a more viable decarbonization pathway.
Future emissions norms will significantly influence market dynamics, potentially favoring hybrids
Rates buy with a target price of Rs. 3,570, which implied a 21% upside.
Last year margins were outlier, now to be range bound
Consumption trends with weakening urban and flattening rural
Oral care per capita opportunity is high
Colgate has initiated an interesting initiative which utilized AI for dental screening
The dollar index and US treasury yields steadied in Asian trade on Thursday. Both the safe–haven assets tumbled in the previous session after data from the US painted a confusing picture of the world's largest economy.
US Personal Consumption Expenditure index advanced 2.3% in October from 2.1% in the previous month. US GDP grew 2.8% in three months to September, which is less than what analysts were expecting.
The dollar index was trading 0.05% higher at 106.14, and the benchmark yield on the 10–year US Treasury note was trading flat at 4.26% as of 07:41 a.m.
NBCC (India) Ltd. on Wednesday signed a memorandum of understanding with Housing and Urban Development Corp. for the development of a 10-acre institutional plot in Noida's Sector-62. The tentative cost of the project is Rs 600 crore. Read more.
Asian Stocks Mixed As Data Backs Fed's Cautious Stance
Most US share indices ended lower, and halted a seven–day rally on Wednesday due to losses on in magnificent seven stocks, Bloomberg reported.
The Dow Jones Industrial Average and S&P 500 ended 0.31% and 0.38% lower, respectively. The Nasdaq Composite ended 0.60% down.
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