Stock market live updates on March 18: Dalal Street saw a bearish trend last week, however markets in Asia showed some positive signs on Monday morning, giving hope for a resistance
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Markets to remain volatile amid US Fed rate decision speculations: Analysts (17-03-2024)
Stock markets would take cues from the biggest event of the week — the US Fed interest rate decision, besides tracking the trends in global markets and trading activity of foreign investors, analysts said.
Last week, a heavy decline in smallcap, midcap firms, foreign fund outflows and elevated crude oil prices in the international market dented investors’ sentiments.
Experts said equity markets may remain volatile in the near-term amid a host of global central bank’s monetary policy decisions lined up during the week.
“This week will place a significant focus on monetary policy, as the Fed will begin its two-day policy meeting on March 19. The US Federal Reserve will announce its interest rate decision after its two-day policy meeting on March 20, 2024,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
Additionally, China will announce the loan prime rate for 1-year and 5-year loans, and the Bank of Japan (BoJ) will announce its interest rate decision on March
FPIs infuse over Rs 40,000 cr in Indian equities on strong economic growth (17-03-2024)
FPIs came back strongly to invest in the Indian equity markets, buying shares worth Rs 40,710 crore in the first fortnight of the month amid an improvement in the global economic landscape and robust domestic macroeconomic outlook.
The inflows came following a modest investment of Rs 1,539 crore in February and an outflow of Rs 25,743 crore in January, data with the depositories snowed.
FPIs have been changing their strategy in response to the changes in the bond yields in the US. Therefore, now that US bond yields have again spiked up in response to stubborn inflation, they may again turn sellers in some of the days, going forward, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
In March, Foreign Portfolio Investors (FPIs) turned big buyers but this figure includes some bulk deals executed through the stock exchanges and, therefore, is not a true indicator of FPI activity. However, the rising trend of FPI investment continues, he added.
“The …
Mcap of 5 of top 10 firms tanks Rs 2.23 trn; Reliance, LIC biggest laggards (17-03-2024)
Five of the top 10 valued firms faced a combined erosion of Rs 2,23,660 crore from their market valuation last week, with Reliance Industries and Life Insurance Corporation of India taking the steepest hit amid an overall bearish trend in equities.
Last week, the BSE benchmark tanked 1,475.96 points or 1.99 per cent.
While Reliance Industries, ICICI Bank, State Bank of India, Life Insurance Corporation of India (LIC) and Hindustan Unilever suffered erosion from their market capitalisation (mcap), Tata Consultancy Services (TCS), HDFC Bank, Bharti Airtel, Infosys and ITC were the gainers.
The mcap of Reliance Industries tanked Rs 81,763.35 crore to Rs 19,19,595.15 crore, the most among the top-10 firms.
LIC’s market valuation tumbled Rs 63,629.48 crore to Rs 5,84,967.41 crore and that of State Bank of India plummeted by Rs 50,111.7 crore to Rs 6,53,281.59 crore.
The mcap of Hindustan Unilever dropped by Rs 21,792.46 crore to Rs 5,46,961.35 crore and that of ICICI Bank dived Rs 6,36
Amber Ent arm incorporates WOS railway components manufacturing (16-03-2024)
Sidwal Refrigeration Industries, a wholly owned material subsidiary (WOS) of Amber Enterprises India has incorporated a WOS named, AT Railway Sub Systems on 15 March 2024.
SJVN arm bags LoI for 200-MW solar project from GUVNL (16-03-2024)
SJVN Green Energy (SGEL), the renewable arm of SJVN has received letter of intent (LOI) from Gujarat Urja Vikas Nigam (GUVNL) for 200 meagwatt (MW) solar project in GUVNL Phase-XXIII.
Lupin Aurangabad facility gets 1 USFDA observation (16-03-2024)
The drug maker on Friday announced that the US drug regulator has issued Form 483, with one observation after inspecting its Aurangabad manufacturing facility.
Railtel Corp bags order worth Rs 130 cr (16-03-2024)
The company has announced that it has secured a work order from State Project Director (Spd), Bihar Education Project Council (Bepc) amounting to Rs 130 crore.
HCL Infosystems receives arbitration awards of Rs 31 cr (16-03-2024)
The monetary reliefs in favour of the Company as per the Award(s) for the principal amount, interest and litigation cost is Rs. 31.08 crore.
HCL Infosystems receives arbitration awards of Rs 31 cr (16-03-2024)
The monetary reliefs in favour of the Company as per the Award(s) for the principal amount, interest and litigation cost is Rs. 31.08 crore.