Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 ended a volatile session on Thursday around one percent lower each, amid weakness across global markets after the Fed said it is likely to hike interest rates in March.
Kotak Mahindra Bank, Indian Oil, Tata Motors, IndusInd Bank, Bajaj Auto, Hindalco and ITC were also among the top gainers.
Trading in the shares has been frozen at the lower end of the 10% intra-day circuit filter at Rs 90.45.
The company posted Rs 285.3 crore in earnings before interest, taxes, depreciation and ammortisation , down 33.1 percent on year.
On BSE, the Zomato stock was locked in the lower circuit at 10 percent in afternoon deals, not far from a 52-week low of Rs 84.1 touched on Tuesday.
Paytm parent One97 Communications’ shares hovered around the Rs 900-mark on Thursday, as most new-age business stocks remained under sustained selling pressure.
AGS Transact Technologies, one of the largest integrated omnichannel payment solutions providers in India in terms of providing digital and cash-based solutions to corporates, closed its public issue last week.
The company announced its share allotment on Thursday and investors can check their status on the issue’s registrar Link Intime as well as BSE.
BTC was trading at US$39,000 yesterday, but the relief rally seemed to be short-lived after the announcement of the Federal Reserve signals the upcoming rate hike.
On the other side, ETH and other top altcoins are also running in the red.
So wherever you see in our portfolio, fundamentals are robust and hence, opportunities are either portfolio level dislocations, or, in general, they remain cheap vis-a-vis intrinsic value, although it’s 10-15 percent lower entry point today than where it was a month ago, he added.
The rupee declined 41 paise to 75.19 against the US dollar in opening trade on Thursday, tracking the strength of the American currency after hawkish US Fed policy stance.
Shares of Raymond Ltd on Thursday gained over 4 percent after the company reported a multifold jump in its net profit at Rs 101.07 crore for the third quarter ended December 2021.
The bank’s quarterly net interest income – the difference between interest earned and interest paid – increased 14.1 percent on year to Rs 6,945 crore, according to a regulatory filing.
Glenmark Pharma has received approval of the US Food and Drug Administration for bisoprolol fumarate & hydrochlorothiazide tablets, used in the treatment of high blood pressure.
Mark Matthews of Bank Julius Baer & Co said in an interview to CNBC-TV18 that in his view, the US central bank may not raise interest rates multiple times.