Given the current market volatility, auto stocks seem to be a better bet for long side trades. Select stocks like M&M and TVS Motor can rally up to another 12 per cent.
Equity benchmark Sensex declined nearly 540 points on Thursday, pressured by heavy selling in index heavyweights Reliance Industries, Bajaj Finserv and ICICI Bank amid a sluggish trend in the global markets. Besides, a weak rupee against major currencies overseas further weighed on sentiment, traders said. Snapping its three-day gaining streak, the 30-share BSE Sensex opened strong but came under severe selling pressure to close 541.81 points or 0.90 per cent lower at 59,806.28. Similarly, the broader NSE Nifty declined 164.80 points or 0.93 per cent to 17,589.60. M&M was the top loser in the Sensex pack, skidding 3.31 per cent, followed by Reliance Industries, Bajaj Finserv, ICICI Bank, Maruti, Tata Motors and Tech Mahindra. On the other hand, Tata Steel, L&T, Axis Bank, Bharti Airtel and HDFC Bank were among the gainers. Sector-wise, BSE Auto and Consumer Durable witnessed intense selling during the session. In the broader markets, the BSE midcap fell 0.55 per cent and the ..
Stock market holiday news: While most people are celebrating Holi on Wednesday, March 8, BSE and NSE have declared a stock market holiday on March 7
Easing concerns around Fed hike, rise in Adani Group shares boost sentiment
NSE Nifty50's sharp rebound from its 200-day moving average of 17,400 is what is giving technical analysts the requisite confidence
At the bourses, shares of HG Infra Engineering, KNR Constructions, and KEC International have surged up to 9.3 per cent since February 1
Stock markets are adjusting to new realities
If fall isn't arrested, this will be second time in three months the Sensex would have chalked up negative returns
After the outperformance of the past three years, they should be prepared for modest returns in the near term
Extended trading hours will have risks
Stocks to watch today: HDFC concluded sale of 10-year non-convertible debentures (NCDs) of Rs 25,000 crore; Ambuja Cements was selected as 'preferred bidder' for Uskalvagu limestone block in Odisha
Markets ended marginally higher in a trading session marked by extreme volatility
Closing Bell: On the Nifty, Adani Ports closed in green after two days with a firm gain of 6 per cent., while Adani Enterprises erased over 50 per cent of its day's losses to close 2 per cent down
Budget 2023: Analysts said the Budget push in the capital expenditure (capex) outlays across sectors and the income tax relief have been the top boosters to support the domestic economy
CLOSING BELL: Broader markets were unable to recover from the intra-day lows with BSE Midcap and Smallcap indices dropping up to 1 per cent
CLOSING BELL: Broader markets, too, remained upbeat throughout the day as Nifty MidCap 100 and Nifty SmallCap 100 outperformed benchmark indices to close up to 2 per cent
Closing Bell: Broader markets trailed gains in benchmark indices. The BSE Midcap and Smallcap indices closed up to 0.2 per cent lower
Closing Bell: Adani Enterprises and Adani Ports were the leading Nifty losers, which ended 18 and 15 per cent lower, respectively. SBI, ICICI Bank, IndusInd Bank were next in line sinking up to 5%
Stock market LIVE: As per rollover data, the Nifty index has, so far, witnessed rollover in-line with the last three months' averages. However, slight declines in roll cost indicates a capped upside
Closing Bell: Sectorally, Nifty IT clocked around a 2 per cent gain, followed by nearly 1 per cent upmove in bank, auto, FMCG and pharma indices. Metals and realty were the only pockets to close lower