SENSEX Financial News

Fitch's downgrade of US long-term credit rating. BSE Sensex fell 542 points, or 0.82%, to at 65,240. NSE's Nifty declined 144 points, or 0.74%, to end at 19,381.

₹10 trillion capex announced in the budget. ₹2,000 crore:That’s the amount of late submission fee the Reserve Bank of India (RBI) has slapped on ONGC Videsh Ltd, Indian Oil Corp. Ltd, GAIL (India) Ltd, and Oil India Ltd for delayed reporting of their overseas investments, Mintreported.

MUMBAI : Benchmark indices closed in the red for the third straight session on selling by foreign portfolio investors (FPIs), despite global brokerage Morgan Stanley upgrading India’s sovereign rating to overweight, citing economic resilience. However, domestic funds’ buying in the last 45 minutes of trading contained the losses by the day’s end. The FPI selling, in the wake of a Fitch Ratings’ downgrade of US credit ratings on Tuesday, contributed to the rupee weakening to 82.73 to the dollar.

Piramal Enterprises, Hindustan Copper, and Gujarat Narmada Valley Fertilizers And Chemicals Limited are the three stocks that are a part of the F&O ban list by the stock exchange for Friday. The NSE updates the list of securities in F&O ban for trade everyday. The derivative contracts in the mentioned securities have crossed 95 per cent of the market-wide position limit and have been currently put in the ban period by the stock exchange, said NSE.

Adani Power has reported a consolidated profit at Rs 8759 crore, up 83% for the quarter ended June 2023. It was Rs 4779.8 crore during the corresponding quarter in FY2022.

Uttam Sugar Mills(up 3.38%), Kothari Sugars & Chemicals(up 2.85%), MAGADHSUGAR(up 2.71%), Shree Renuka Sugars(up 2.58%), Triveni Engineering & Industries(up 2.51%), Balrampur Chini Mills(up 2.35%), EID Parry(up 2.05%), KCP Sugar & Industries(up 1.94%), Dhampur Sugar Mills(up 1.90%) and Bannari Amman Sugars(up 1.38%) stood among the top gainers. Ugar Sugar Works(down 0.35%) and Dalmia Bharat Sugar & Industries(down 0.34%) were among the top losers of the day.

Shares of L&T Technology(up 1.86 per cent), MPhasis(up 1.3 per cent), Infosys(up 0.55 per cent), Coforge(up 0.17 per cent) and LTIMindtree Ltd(up 0.08 per cent) ended the day as top gainers in the pack. On the other hand, Tata Consultancy(down 1.18 per cent), Wipro(down 0.78 per cent), Persistent Systems(down 0.55 per cent), HCL Technologies(down 0.48 per cent) and Tech Mahindra(down 0.25 per cent) finished as the top losers of the day.

The NSE Nifty index closed 144.9 points down at 19381.65, while BSE Sensex ended down 542.1 points at 65240.68.

Sterling and Wilson Renewable Energy Limited a renewable engineering procurement and construction company has won orders worth Rs 826 crore in the first four months of FY 2023-24. The orders aggregate to around 1 GWp and include projects in Rajasthan, Uttar Pradesh and Gujarat.

The NSE Nifty index ended the session 144.9 points down at 19381.65, while BSE Sensex fell 542.1 points to 65240.68. In the Nifty index, Adani Enterprises Ltd.(up 2.39 per cent), Adani Ports & Special Economic Zone Ltd.(up 1.56 per cent), Eicher Motors Ltd.(up 1.41 per cent), Divi's Laboratories Ltd.(up 0.97 per cent) and Infosys Ltd.(up 0.55 per cent) stood among the top gainers.

BSE Sensex fell 0.82% to 65,240.68. Among the Nifty sectoral indices, only Nifty Media (up 0.93%), Nifty Pharma (up 0.98%), and Nifty Healthcare (up 0.60%) ended in green, while the others closed in red. Adani Enterprises Ltd, Adani Ports and Special Economic Zone Ltd, Eicher Motors Ltd, Divi's Laboratories Ltd, and Infosys Ltd were among the top gainers of Nifty.

US bonds yields and dollar weighed on stock market sentiment. US stocks futures and top European markets were in the red when the Sensex closed as fresh macroeconomic data in the US showed the resilience of the economy and raised concerns that the Fed will extend its monetary tightening policy. "US Treasury yields after stronger-than-expected private employment data and the announced refunding of the US government's maturing debt.

Stock market today: Key benchmark indices extended sell of for second stright session on Thursday as global market cues continue to remain weak after Fitch downgrading US credit rating. Sensex today opened lower and went on to hit intraday low of 65,069 levels, logging near 1400 points in the last two trade sessions. Nifty 50 index and Bank Nifty index too remained under sell off pressure and went on to lose their immediate support placed after the closure of Wednesday deals.

Fitch's move to downgrade US rating as an excuse to book some profits off the table. Sensex has plunged about 1,500 points in 2 days while Nifty broke below the 19,300-zone. In the two-day selloff, investors have become poorer by Rs 5.7 lakh crore. While Fitch's statement had nothing new to offer as it is a well-known fact that developed market governments are getting more indebted, the downgrade of US rating to AA+ from AAA is seen as being sentimentally negative for riskier assets. In sync with the risk-off reaction in global and other Asian markets, Sensex plunged over 800 points on Thursday with Reliance Industries (RIL), banks and IT stocks leading the downside. Realty, banks and other financial stocks were among the worst affected but pharma stocks managed to thrive in the selling pressure on the back of Q1 earnings report card. Amid the global sell-off, Dalal Street traders also overlooked Morgan Stanley's upgrading of Indian equities to overweight position. Citing a structural uptrend, secular leadership and relative valuations being less extreme than in October, the global brokerage firm has placed India at the No.1 position in its basket of Asian emerging markets ex-Japan.

Vedanta Ltd. traded 6.82 per cent down at Rs 253.65 at 02:10PM (IST) on Thursday, even as BSE benchmark Sensex dropped 784.02 points to 64998.76. The stock had settled at Rs 272.2 in the previous session.

SRF Ltd. dropped 0.59 per cent to Rs 2252.05 at 01:04PM (IST) in Thursday's trade.

Avenue Supermarts Ltd. fell 0.21 per cent to Rs 3704.25 at 12:58PM hours (IST) on Thursday. Earlier in the day, the stock saw a gap down start to the session.

Shriram Finance Ltd. rose 0.13 per cent to Rs 1829.65 in Thursday's trade. It hit an intraday high of Rs 1838.0 and low of Rs 1817.35, respectively, during the day.

Indian Hotels Company Ltd. gained 0.08 per cent to Rs 395.85 at 12:07PM (IST) in Thursday's trade.

Crompton Greaves Consumer Electricals Ltd. gained 2.62 per cent to Rs 294.3 at 11:47AM (IST) in Thursday's trade.

LTIMindtree Ltd. traded at Rs 4859.95 on BSE at 11:57AM (IST) on Thursday, down 0.06 per cent. The stock quoted a 52-week low price of Rs 4120.0 and a high of Rs 5425.0.