Closing Bell: Nifty ends below 11,500, Sensex falls 222 points; auto stocks slip

  • Market Close: Benchmark indices ended lower but off day’s low on Friday with Nifty finished below 11,500 level.

    At close, the Sensex was down 222.14 points at 38164.61, while Nifty was down 64.10 points at 11456.90. About 1009 shares have advanced, 1665 shares declined, and 143 shares are unchanged.

    NTPC, L&T, Asian Paints, JSW Steel and Hindalco Industries were top gainers on the Nifty, while losers were Bharti Infratel, BPCL, Tata Motors, HPCL and Reliance Industries.

    Except infra all other sectoral indices ended in red led by Nifty PSU bank, auto, energy, pharma, metal and IT. BSE Midcap fell 0.60 percent, while Smallcap index fell 0.40 percent.

  • Mar 22, 03:27 PM (IST)

    TVS Electronics to sell entire holding in subsidiary: The company has entered into share purchase agreements for disposing its entire shareholding in Benani Foods, subsidiary of the company.

  • Mar 22, 03:20 PM (IST)

    Canara Bank issues Foreign Currency Bond under MTN: The bank launched a issuance of 5 year Senior Unsecured Bonds (Medium Term Notes) to the extent of USD 400 million under Medium Term Note (MTN) Programme, through its London branch. It is priced at 5 year US Treasury plus 170 bps carrying a coupon of 3.875% fixed payable half yearly.

  • Mar 22, 03:12 PM (IST)

    No observations for Cadila’s Ahmedabad facility: The USFDA inspected the pharmaceutical technology centre (PTC), at Ahmedabad, dedicated to new product development of various niche dosage forms including solid oral, parenteral, pulmonary, oncology, ointment & creams and transdermal, from March 18 to 22, 2019.

    At the end of the inspection, no observations (483) have been issued.

  • Mar 22, 03:05 PM (IST)

    Fitch cuts India GDP growth forecast for FY20 to 6.8%

    Fitch cuts India GDP growth forecast for FY20 to 6.8%

    “While we have cut our growth forecasts for the next fiscal year (FY20, ending in March 2020) on weaker-than-expected momentum, we still see Indian GDP growth to hold up reasonably well, at 6.8 per cent, followed by 7.1 per cent in FY21,” Fitch said in its Global Economic Outlook.

  • Mar 22, 02:54 PM (IST)

    Aurionpro wins prestigious order: Company’s subsidiary in Singapore has won a prestigious project, in banking and fintech space, from one of the largest banks in Singapore, having significant operations in Southeast Asia including in key markets of Malaysia and China.

  • Mar 22, 02:39 PM (IST)
  • Mar 22, 02:26 PM (IST)

    Market Update: The benchmark indices are erased all its gains and trading at day’s low point with Nifty around 11,450 level.

    The Sensex is down 254.13 points at 38132.62, while Nifty is down 75.60 points at 11445.40. About 928 shares have advanced, 1551 shares declined, and 135 shares are unchanged.

  • Mar 22, 02:15 PM (IST)

    Don’t look at mid/smallcap funds, go for a multi-cap portfolio: Jinesh Gopani

    <p>Don't look at mid/smallcap funds, go for a multi-cap portfolio: Jinesh Gopani</p>

    Given the uncertainty in the markets, Jinesh Gopani continues to advise investors to invest in multi-cap strategies, giving investors a healthy mix of large/mid and small caps stocks.

  • Mar 22, 02:05 PM (IST)

    Zydus receives final approval from the USFDA: Zydus Cadila has received the final approval from the USFDA to market Lurasidone Hydrochloride Tablets USP (US RLD-Latuda Tablets), in the strengths of 20 mg, 40 mg, 60 mg, 80 mg and 120 mg.

  • Mar 22, 01:51 PM (IST)

    Caplin Point gets USFDA nod: Caplin Point Laboratories Caplin Steriles, a wholly owned subsidiary of Caplin Point Laboratories has been granted final approval by the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Glycopyrrolate injection USP.

  • Mar 22, 01:40 PM (IST)

    Sectoral allocation crucial for wealth creation; Here’s how your equity portfolio should look like

    Sectoral allocation crucial for wealth creation; Here's how your equity portfolio should look like

    If your portfolio requires a churn then this is the right time as we are on the verge of a breakout above previous record highs

  • Mar 22, 01:23 PM (IST)

    Jefferies on Maruti Suzuki: Research house maintained buy rating on the stock with a target at Rs 7,600 per share. It feels that access to Toyota’s technology will be key to long-term prospects.

  • Mar 22, 01:11 PM (IST)

    Market Outlook

    Ajay Bodke, CEO PMS at Prabhudas Lilladher said a long pause announced by the US Federal Reserve signals a momentous shift when compared to market expectations of around 3 to 4 rate increases of 0.25 percent each by the Fed just 6 months back.

    This is likely to significantly ease pressure on Emerging market (EM) currencies and allow their Central Banks to embrace aggresive monetary easing. This is particularly the case for EMs like India where domestic inflationary prints are benign and inflationary expectations well-anchored, it believes.

  • Mar 22, 01:00 PM (IST)

    Drug Launch In US

    Pharma major Lupin launched Levothyroxine Sodium tablets USP in the United States.

    Lupin’s Levothyroxine Sodium Tablets USP is the generic equivalent of AbbVie, Inc’s Synthroid tablets which are indicated for hypothyroidism and pituitary thyrotropin suppression.

  • Mar 22, 12:46 PM (IST)

    Kansai Nerolac falls 5% after CLSA downgrade, price target cut

    Kansai Nerolac falls 5% after CLSA downgrade, price target cut

    Kansai Nerolac Paints shares fell nearly 5 percent intraday on Friday after global brokerage house CLSA downgraded the stock to sell from underperform.

  • Mar 22, 12:35 PM (IST)
  • Mar 22, 12:01 PM (IST)

    Tata Power bags Rs 1,200 crore contract: Tata Power Strategic Engineering Division (Tata Power SED) announced the signing of an important deal with the Ministry of Defence, Government of India, to supply 23 ship-borne 3D Air Surveillance Radars to the Indian Navy over the next 10 years.

  • Mar 22, 11:47 AM (IST)

    Image Source:Bloomberg

     Image Source:Bloomberg
  • Mar 22, 11:26 AM (IST)

    JUST IN | GVK Power is going to acquire additional 10 percent equity share at Rs 77 per share in Mumbai International Airport (MIAL) from ACSA Global.

  • Mar 22, 11:16 AM (IST)

    NiftyBank climbs 30K; HDFC Bank hits fresh 52-week high

    NiftyBank climbs 30K; HDFC Bank hits fresh 52-week high

    The open interest in Bank Nifty has swelled sharply along with the up move and the current open interest in the index is the highest seen since August 2018 suggesting long build-up.

  • Mar 22, 11:02 AM (IST)

    Alembic Pharma receives USFDA approval: The company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Azelastine Hydrochloride Ophthalmic Solution, 0.05%.

  • Mar 22, 10:48 AM (IST)

    Technical Outlook

    On hourly chart, Nifty formed a bearish divergence pattern hence possibility of some correction in the near term can’t be ruled out, Way2Wealth said.

    In that case, 10,450–10,410 will act as an immediate support for Nifty. On the other side, 11,550-11,600 zone will be a near term supply zone, it added.

  • Mar 22, 10:43 AM (IST)

    Sectoral allocation crucial for wealth creation; Here’s how your equity portfolio should look like

    Sectoral allocation crucial for wealth creation; Here's how your equity portfolio should look like

    If your portfolio requires a churn then this is the right time as we are on the verge of a breakout above previous record highs

  • Mar 22, 10:30 AM (IST)

    Rupee Update: The Indian rupee extended morning gains and trading higher by 26 paise at 68.56 per dollar versus 68.82 Wednesday.

  • Mar 22, 10:20 AM (IST)

    Buzzing: Shares of The Investment Trust of India rallied 17 percent after the company on March 20 bought back equity shares worth Rs 54.36 crore of ITI Reinsurance, making it a wholly-owned subsidiary of the company.

  • Mar 22, 10:02 AM (IST)

    Gold Update: Gold extended losses on Friday, moving further away from a three-week peak hit in the previous session, as appetite for riskier assets improved on upbeat US economic data, while the metal was still on path for a third straight weekly gain.

  • Mar 22, 09:53 AM (IST)

    JUST IN | Fitch sees India FY20 GDP growth at 6.8% and 7.1% in FY21.

  • Mar 22, 09:46 AM (IST)

    The logical target for Nifty is 10,649 but I would watch crucial support at 11,450 and trade long, said Prakash Gaba of prakashgaba.com.

    The Nifty Bank unfolded stretched and climbed towards our target of 30,000 and has closed in the green. I would just watch crucial support at 29,550 and trade long. The logical target beyond 30,000 is 30324.

  • Mar 22, 09:40 AM (IST)

    Why Tata Sons may be best for Jet Airways as lenders scout for a ‘long-term investor’

    Why Tata Sons may be best for Jet Airways as lenders scout for a 'long-term investor'

    Though the preliminary talks between the Tatas and Jet Airways didn’t make much headway last year, now is the opportune time to take it ahead

    [“source=moneycontrol”]

Author: Lili