Stock market live updates on March 14, 2024: The BSE Sensex fell 200 points to 72,541 and the NSE Nifty slipped 49 points to 21,948
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Stock market live updates: Equity benchmark indices erased Thursday’s opening losses to turn around into the positive territory. After falling 200 pts at open, the BSE Sensex gained 200 points to 72,994 and the NSE Nifty rose 90 points to claw back above 22,000.
Bajaj Finance, Tata Steel, JSW Steel, IndusInd Bank, Bajaj Auto and Titan were the top larecap losers.
On the flip side, Coal India, Hindalco, Reliance and BPCL were among the top frontline gainers.
Broader markets also saw some respite from last few sessions’ sharp losses. The BSE MidCap and SmallCap indices rose up to 2.5 per cent.
Among stocks, Som Distilleries rallied 7 per cent as its board will consider a stock split plan on April 2.
Nifty Realty and Bank indices led sectoral losses, down over 1 per cent each. Oil & Gas pocket held the highest gain of over 1 per cent.
2:11 PM
ALERT:: Titan Intech to consider bonus issue on March 27; stock jumps 3%
Titan Intech in an exchange filing said, the company’s board is scheduled to meet on March 27 to consider and approve a proposal for Bonus issue of equity shares.
1:53 PM
ALERT:: Synergy Green board okays rights issue of up to Rs 49 cr; stock soars 9%
Synergy Green Industries board today approved issue of equity shares on a right basis up to Rs 49 crore.
1:36 PM
NTPC crosses 400 bn units power generation mark in FY24, eyes green energy
State-owned NTPC on Thursday said its electricity generation has crossed 400 billion units (BU) this fiscal year. READ MORE
1:20 PM
‘Investors should take 3-5 year view when investing in small, midcaps’
Markets are evenly poised, anticipated rate cuts can provide positive impetus to the market going forward, believes Suresh Soni, CEO of Baroda BNP Paribas Mutual Fund. READ INTERVIEW
1:03 PM
SMS Pharma soars 16% on positive biz outlook; zooms 60% so far in 2024
The stock is now seen trading close to its 52-week and all-time high registered in March 2024 and August 2021, respectively. READ MORE
12:45 PM
Wholesale inflation eases to 0.2% in Feb, food inflation rises marginally
The wholesale price index (WPI)-based inflation eased in January to 0.2 per cent from 0.27 per cent in the preceding month. READ MORE
12:29 PM
Indian Hume Pipe surges 18% on winning work order worth Rs 228 crore
The company in association with AMR India and Shoda Constructions has secured a Rs 1,138 crore work roder related to water supply projects & sewerage projects under AMRUT 2.0 by Government of Telangana. READ MORE
12:16 PM
ALERT :: February WPI comes at 0.2% vs 0.27% MoM
12:04 PM
Market Check :: Sensex zooms 500 pts on Fitch upgrade, RBI rate cut hope
>> Fitch raises FY25 GDP growth estimate
>> Expects RBI to cut rates by 50 bps
12:00 PM
SpiceJet soars 8% on securing 10 aircraft ahead of summer schedule
SpiceJet has been, recently, settling claims with aircraft lessors. Last week, it announced the successful resolution of a $49.8 million (Rs 413 crore) dispute with Echelon Ireland Madison One Ltd, resulting in savings of $48 million (Rs 398 crore) and the acquisition of two airframes. READ MORE
11:49 AM
ALERT :: Antony Waste arm secures order worth Rs 77 crore
>> One of the company’s material subsidiary, Antony Lara Enviro Solutions Private Limited, has been awarded contract of Processing of Legacy Waste through Bio-remediation / Bio-mining and Re-development of existing Sanitary Landfill Cells at CIDCO’s MSW facility at Village Chal near Taloja, MIDC by CIDCO.
11:33 AM
ALERT :: Fitch raises India FY25 GDP forecast To 7% from 6.5% earlier
>> Prospects for EMs, except China, have brightened, especially India
>> FY24 GDP growth seen at 7.8%
11:25 AM
SJVN zooms 8% on signing solar power project worth Rs 2,700 crore
The solar project is set to be commissioned in a period of 18 months or by November 2025. This is expected to generate 1,271.07 million units in the first year after commissioning and the projected cumulative energy generation over a period of 25 years would be about 29,245.40 million units. READ MORE
11:12 AM
ALERT :: Ashoka Buildcon enters into SPA with GVR Infra Projects, GVR Ashoka Chennai ORR
>> Ashoka Buildcon Limited has entered into a share purchase agreement with GVR Infra Projects Limited and GVR Ashoka Chennai ORR Limited for the acquisition of 94.5 million equity shares held by GIPL in CORR, constituting 50% of the share capital of CORR, for a consideration of Rs.185 crore.
>> Post-acquisition of 50% equity shares held by GIPL, CORR would become wholly-owned subsidiary of the company with effect from the date of acquisition
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10:57 AM
ALERT :: SpiceJet finalises lease agreement for 10 aircraft
>> SpiceJet has finalised lease agreements for 10 aircraft as part of its efforts to augment capacity in preparation for the upcoming summer schedule.
>> SpiceJet has received three airframes as part of recent settlement agreements, further strengthening its fleet capabilities.
>> These settlements with key aircraft lessors have also resulted in savings of Rs 685 crore for the airline.
10:42 AM
Gopal Snacks makes disappointing debut; lists 13% below its issue price
Post listing, the stock hit a high of Rs 378 and a low of Rs 342 on the BSE. At 10:01 am; the stock was trading at Rs 375.50, up 7 per cent as against the stock’s opening price, but down 6 per cent from its issue price. A combined 1.5 million equity shares had changed hands. so far, on the NSE and BSE. READ MORE
10:30 AM
ALERT :: L&T wins order from a client in the Middle East
>> The Hydrocarbon vertical has recently secured a major onshore gas pipeline project from a prestigious client in the Middle East.
>> The order falls under ‘major’ category, implying value between Rs 5,000 and 10,000 crore
10:17 AM
Market Check :: Top gainers on the BSE at this hour
10:03 AM
New Listing :: Gopal Snacks lists at discount against issue price
>> The company’s shares had an issue price of Rs 401 apiece.
>> Shares listed at Rs 350 per share
9:51 AM
Comment :: What should be you strategy in this turbulent market?
Investors should appreciate the following facts.
>>The Nifty Smallcap index is down 13.5% and the midcap index is down 6.8% from their respective peaks. But Nifty is stable with a minor cut of only 2.1%.
>> There is room for the broader market to correct more since the valuations continue to be elevated.
>> From now on, irrational exuberance will take a back seat and rational valuations and quality will be the driving force.
Startegy
High quality private sector banks and the leading names in capital goods, telecom and autos can be accumulated in a calibrated manner.
Views by: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
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First Published: Mar 14 2024 | 7:39 AM IST
