ECB hikes rate by 50bps to 3.5% despite bank chaos; highest since Oct 2008
CLOSING BELL: Nestle, Titan, Hindustan Unilever and Asian Paints were the major gainers among the Sensex-30 pack; while Tata Steel, IndusInd Bank and Bharti Airtel were the top losers.
ECB hikes rate by 50bps to 3.5%
Stock Market Highlights: The benchmark indices snapped their five-day losing streak amid high volatility on Thursday, as FMCG and select banking shares gained, while IT and metal stocks witnessed selling pressure.
The S&P BSE Sensex plunged to a low of 57,159 in the opening hour, but soon recouped losses and thereafter rallied to a high of 57,887. The Sensex finally settled with a gain of 79 points at 57,635.
The NSE Nifty 50 dipped to a low of 16,850, before signing-off the day 13 points higher at 16,986.
Nestle, Titan, Hindustan Unilever and Asian Paints were the major gainers among the Sensex 30 stocks, up over 2 per cent each. Sun Pharma, SBI, Tata Motors, PowerGrid Corporation, Bajaj Finserv and Mahindra & Mahindra were the other prominent gainers.
On the other hand, Tata Steel dropped over 3 per cent, and IndusInd Bank slipped 2.3 per cent. Bharti Airtel and Infosys were the other notable losers.
Index heavyweight Reliance Industries hit a fresh 52-week low, and its market-cap dipped below the Rs 15-trillion-mark for the first time since December 06, 2021.
9:48 PM
Samvardhana Motherson crashes 11% post block deal
As per media reports, Sumitomo Wiring Systems Ltd (SWS) was to sell 230 million shares in the company i.e. around 3.4 per cent stake via block deal mechanism on stock exchanges today. The floor price for the deal was to be around Rs 69.90 per share (i.e. a discount of 9 per cent to last closing price) with total transaction value pegged at Rs 1,600 crore, the report suggested.
Topics : MARKET LIVE
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First Published: Mar 16 2023 | 9:50 PM IST
