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Stock Market Highlights: Sensex slumps 740 points, Nifty ends March F&O series below 14,350 dragged by auto, energy stocks

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Stock Market Highlights: Sensex slumps 740 points, Nifty ends March F&O series below 14,350 dragged by auto, energy stocks

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Stock Market Highlights: Indian benchmark equity indices, Sensex and Nifty ended sharply lower Thursday dragged by heavy selling across the board with auto, PSU banks, energy, IT and FMCG indices falling the most. Midcap and smallcap indices fell two percent each.

Stock Market Highlights: Sensex slumps 740 points, Nifty ends March F&O series below 14,350 dragged by auto, energy stocks
  • Deepak Jasani, Head of Retail Research, HDFC Securities

    Indian benchmark equity indices suffered sharp swings on either side on March 25 as the March series F&O expiry had a volatile close. Nifty has seen acceleration in its downtrend after it breached the crucial level of 14,788. In the process it has filled the upgap made on Feb 02. A sharp rise in COVID-19 cases globally and reports of lockdown seems to have eroded investors' risk appetite. Hardening bond yields, and rising inflation are also not helping matters. Although the indicators/oscillators are oversold, we are not sure as to whether a bounce will come from these levels or after falling to 13,966.

  • Ajit Mishra, VP - Research, Religare Broking 

    Markets traded under pressure on the F&O expiry day and lost over one and a half percent. The selling pressure has intensified in the last couple of sessions owing to weak global cues and concerns over the second wave of COVID cases. On the benchmark front, Nifty has next critical support at 14,000 levels however rebound in the banking index might result in some bounce or consolidation first. Amid all, we reiterate our cautious stance and suggest traders to focus more on risk management.

  • Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

    The Nifty respected the support of 14,300-14,350 on a closing basis. However, if we break 14,300 on a closing basis, we will plummet further to levels closer to 13,600. On the upside, the resistance is at 14,900 and any upside correction can be utilized to short the index for newer targets on the downside.

  • Here are key stocks that moved the most on March 25
    The Sensex ended 740 points lower at 48,440 while the Nifty fell 224 points to settle at 14,325.Get latest Market online at cnbctv18.com
    Stock Market Highlights: Sensex slumps 740 points, Nifty ends March F&O series below 14,350 dragged by auto, energy stocks
  • Market In March F&O Series

    - March 2021 Series, The Worst Since March 2020 In Absolute Terms

    - Sensex, Nifty & Nifty Bank Post The Biggest Series Fall In A Year

    - Except IT & FMCG, All Sectoral Indices Give Negative Returns In March Series

    - Coal India, GAIL, ONGC, Hero Moto, Tata Motors Top Nifty Losers In March Series

    - Grasim, Infosys, UltraTech, JSW Steel, HCL Top Nifty Gainers This Series

  • Market At Close

    - Market Erases All The Gains Since Budget, Closes At Nearly 2-mth Lows

    - Sensex, Nifty & Midcap Index Fall 2% Each; Nifty Bank Falls 1%

    - All Sectoral Indices End Lower With Auto & Energy Being Top Losing Indices

    - 44 Of 50 Nifty Stocks Are In The Red; IOC, Maruti, HUL, Tata Motors Top Losers

    - Sensex Falls 740 Points To 48,440 & Nifty 225 Points To 14,325

    - Nifty Bank Slips 287 Points To 33,006 & Midcap Index 476 Points To 22,859

    - Market Breadth Favours Declines; Advance-Decline Ratio At 1:5

    - BSE Companies Erase Market Cap Of More Than `4 Lakh Crore Today

  • Closing Bell | Indian equity market extended losses to end sharply lower Thursday dragged by heavy selling across the board as worries over rising coronavirus cases in the country and the possibility of fresh restrictions spooked investors. The Sensex plunged 740.19 points, or 1.51 percent to 48,440.12, while the Nifty ended 224.50 points, or 1.54 percent lower at 14,324.90. Broader markets also fell for the day with the midcap and smallcap indices down over 2 percent each.

    All sectors, barring metals, ended in the red with Nifty Energy down 3 percent. Nifty Auto also lost 2.7 percent, while Nifty IT and Nifty FMCG fell over 2 percent each. Meanwhile, the banking and financial indices lost around a percent each. On the Nifty50 index, IOC, Maruti Suzuki, Coal India, Bharti Airtel and Hindustan Unilever led the losses while Tata Steel, Dr Reddy's Laboratories, ICICI Bank, HDFC and Larsen & Toubro were the top gainers.

  • It's a bull market correction; IT, infra, private banks to do well: experts

    The Indian equity market fell sharply as rising COVID cases and worries over lockdowns in several cities weighed on investor sentiment. Selling in financials and autos stocks dragged the benchmark indices, Sensex and Nifty near two-week low levels. “The market sell-off is a confluence of local factors amid the sudden spike in COVID infections. Though thankfully the mortality rate is still quite low and we do have the vaccination drive been accelerated. So hopefully the negative news won’t last as long as the last COVID infection wave,” said Mihir Vora, Director & CIO of Max Life Insurance. He noted that there was a consolidation and correction in the global markets given the strength in the dollar, given the rise in the US bond yields. Watch here.

  • Jubilant-Popeyes deal: Edelweiss’ Roy feels Jubilant share can hit Rs 3,575
    Jubilant Foodwork shares trading lower after climbing 4 percent early in the day on news of the company signing a master franchise and development agreement with PLK APAC Pte, to bring US fried…
    Stock Market Highlights: Sensex slumps 740 points, Nifty ends March F&O series below 14,350 dragged by auto, energy stocks
  • CLSA gives 'outperform' rating for Bandhan Bank; sets target price at Rs 390

    Bokerage firm CLSA has given an 'outperform' rating for Bandhan Bank, stating that there is no mention of microfinance loan waivers in the Assam and West Bengal election manifestos. CLSA has set a price target of Rs 390 for the stock. The brokerage firm states that in the upcoming elections of Assam and West Bengal election manifestos largely refrained from promising microfinance loan waivers. In Assam, the manifesto refers only to enhancing income support to Rs 3,000 per month to a larger set of beneficiaries.

    As highlighted by credit bureaus, Assam's overdue loans at more than 40 percent were higher than average due to political uncertainty, which should abate now. But the West Bengal overdue at about 40 percent on a system-level has been surprisingly high despite reduced political noise; so, it will be required to monitor if the absence of manifesto waiver announcements will lead to improved microfinance collections in Bengal. Continue reading.

  • Motilal Oswal on Divi’s Laboratories

    Divi’s Laboratories is well-placed to capitalize on the carotenoid opportunity too, with a 21 percents ales CAGR to Rs 8 billion expected over FY20–23, driven by healthy demand, integrated manufacturing, and doubled capacity. We value Divi’s Laboratories at 36x 12M forward earnings to arrive at target price of Rs 4,530. We reiterate Buy and see multiple growth levers –new product additions, strong chemistry skillset, efficient manufacturing capabilities, scale advantage in legacy molecules, minimal financial leverage, and sufficient cash available for new projects.

  • Positive on QSR, speciality chemicals; wary on Barbeque Nation: Nirmal Bang’s Girish Pai

    Girish Pai, Head of Research at Nirmal Bang Institutional Equities, on Thursday said that he was wary on Barbeque Nation as they are not keen on casual dining side. "We are more inclined towards the QSR side where there is more delivery and that is going to lead to higher asset turnover. So, that is a space we have liked. So Jubilant Foodworks and Westlife we have an accumulate rating right now. We did put out a non-rated note on Barbeque Nation, but as things stand, we are not keen on the casual dining side because we think that the asset turn could be a little bit more challenged in that space going forward,” he said in an interview to CNBC-TV18. Watch here.

  • Market Watch: S Krishna Kumar, CIO Equity, Sundaram Mf

    The markets definitely have been getting a little edgy seeing the rising cases in COVID infection and that is a bit of a worry. The markets were at all-time highs and valuations were getting fairer, so near-term looked pretty much capped and here we are probably 10 percent down. Markets are getting a lot more attractive to start nibbling in.

    Our view is that the markets have priced in a little bit of uncertainty and also the valuations are getting more reasonable. The weakness in Q4 numbers that could come in relation to expectations has also been factored in now. Right now, we are in a zone where incrementally investors would get more comfortable to add to equities.

  • Sensex cracks 900 points, Nifty slips below 14,300 as sell-of intensifies; banks bleed
    The Indian equity market extended losses for the second straight session on Thursday dragged by heavy selling across the board as worries over rising coronavirus cases in the country and the…
    Stock Market Highlights: Sensex slumps 740 points, Nifty ends March F&O series below 14,350 dragged by auto, energy stocks
  • Ventura Securities bets on this stock to jump 120% in next 18 months

    Brokerage house Ventura Securities believes Himachal Futuristic Communications (HFCL) will double its investor wealth in the next one year. The brokerage recently initiated a 'buy call on the stock with an upside of 120 percent for an 18-month period. "We value HFCL at Rs 59 (15x FY23 earnings) and initiate coverage with a BUY. At the CMP of Rs 27, the price objective represents a potential upside of 119.5 percent over the next 18 months," stated the brokerage.

    HFCL is a diverse telecom infrastructure enabler with active interest spanning telecom infrastructure development system integration and manufacture and supply of high-end telecom equipment and Optic Fiber Cable (OFC). Their manufacturing facilities are located at Solan in Himachal Pradesh Salcete in Goa and New Delhi.

    As per Ventura, it is bullish on the confluence of several large medium to long-term opportunities including 4G expansion, 5G rollout, broadband penetration, potential in railways and defense opportunities. Read more.

  • Cadila Healthcare | Zydus Cadila has received tentative approval from the USFDA to market Emtricitabine and Tenofovir Disoproxil Fumarate Tablets 100 mg/150 mg, 133 mg/200 mg and 167 mg/250 mg. Emtricitabine and Tenofovir Disoproxil Fumarate Tablets are used with other HIV medications to help control HIV infection, the company said.

  • No fight between RBI and market; confident of managing bond yields: Guv Shaktikanta Das
    In a media event on Thursday, Das said he is confident that the central bank will be able to manage the bond yields. He reiterated that RBI will ensure an orderly evolution of the yield curve, as…
    Stock Market Highlights: Sensex slumps 740 points, Nifty ends March F&O series below 14,350 dragged by auto, energy stocks
  • 10% correction post-100% return healthy; sub-13600 Nifty would worry: Atul Suri

    Veteran trader-investor Atul Suri is not too perturbed by the ongoing correction in the market. From the lows of March 2020, the market has delivered 100 percent returns, he reminded viewers. “After a 100 percent move over a year, if we see 10-12 percent kind of correction, it is good, healthy,” Suri, CEO, Marathon Trends said in an interview with CNBC-TV18.

    The pre-Budget low is a key level that Suri has an eye out for. The Nifty had crashed to a low of 13596 on January 29. “It won’t bother me if we do not violate the pre-budget lows. In case, in spite of such a path-breaking budget, if we revisit those places or go below that, that is when I would be worried,” he added.

    According to him, stocks that fall less in falling markets are leaders of the next bull market. Read more.

  • Welspun Enterprises | The company has agreed to take over a Hybrid Annuity Mode Project i.e. Six-Laning of Existing Kozhikode Bypass of NH-66 in the state of Kerala from Calicut Expressway Private Limited through the process of Harmonious Substitution of the National Highways Authority of India (NHAI). The current estimated bid project cost with price index escalation is over Rs 1,900 crore, and the first-year operations and maintenance is Rs 6.30 crore.

  • Jyoti Roy - DVP- Equity Strategist, Angel Broking

    Laxmi Organics is the largest manufacturer of ethyl acetate with over 30% market share in the Indian ethyl acetate market and the only manufacturer of diketene derivatives in India with a diversified customer base. Given the strong growth prospects and reasonable valuations we had given a subscribe rating to the IPO. However at current levels the stock is trading at a P/E multiple of 51.3xFY20 EPS which is on the higher side as compared to peers. Hence we would recommend book profits at current levels.

  • Barbeque Nation IPO subscribed 1.63 times so far

    The initial public offering (IPO) of causal dining restaurants chain Barbeque Nation Hospitality was subscribed 1.63 times on March 25, the second day of the bidding process. Investors have put in bids for 81.55 lakh equity shares against the offer size of 49.99 lakh shares, as per subscription data available on the exchanges.

    The reserved portion for retail investors has been subscribed 7.79 times, while that of non-institutional investors is subscribed 8 percent at end of day. Employees’ portion is subscribed 47 percent, while qualified institutional buyers' part was subscribed 37 percent. The company has reserved shares worth Rs 2 crore for its employees.

  • Why debt restructuring is an essential element in Indian financial system?
    Corporates generally rely upon debt i.e. bank borrowings for setting up and expanding their businesses, by way of long-term loans for purchasing fixed assets and working capital loans for day-to-day…
    Stock Market Highlights: Sensex slumps 740 points, Nifty ends March F&O series below 14,350 dragged by auto, energy stocks
  • Market Watch: Ashish Kyal of Waves Strategy Advisors


    “My first short is going to be on Ashok Leyland, today we can clearly see pressure emerging in the auto stock. It looks like Ashok Leyland can continue to falter from here. One can short at current price keeping a stop loss of Rs 112 for the target of Rs 100.”


    “Next stock on the short side is PSU banking space, Canara Bank. Sell Canara Bank at the current levels. It has already formed lower high lower low, willing to move above its moving average of 151 and constantly falling from there. So one can sell Canara Bank keeping a stop loss above Rs 145 for the target of Rs 130 levels.”

  • Yellow metal trades flat; support seen at Rs 44,550 per 10 grams


    Gold prices in India traded flat on the Multi Commodity Exchange (MCX) Thursday amid a muted trend in the international spot prices as strength in US dollar weighed. At 10:50 am, gold futures for April delivery eased 0.02 percent to Rs 44,849 per 10 grams as against the previous close of Rs 44,860 and opening price of Rs 44,892 on the MCX. Silver futures traded 0.16 percent lower at Rs 65,138 per kg. The prices opened at Rs 65,159 as compared to the previous close of Rs 65,245 per kg. More here

Stock Market Highlights: Indian benchmark equity indices, Sensex and Nifty ended sharply lower Thursday dragged by heavy selling across the board with auto, PSU banks, energy, IT and FMCG indices falling the most. Midcap and smallcap indices fell two percent each.

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