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Business News » Stocks

Share Market HIGHLIGHTS: Sensex crashes over 900 pts, Nifty below 17,600 as rate hike woes hit global equities; Adani stocks bleed

Stock Market Today LIVE, Sensex LIVE Feb 22, Nifty LIVE Feb 22, Nifty Bank LIVE Feb 22

Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 suffered deep losses on Wednesday, mirroring weakness across global markets, as the worst day of 2023 overnight on Wall Street sent 'sell' signals to Asian markets. Investors await an official quarterly reading of India's GDP for more clarity on the state of the economy, and the future course of interest rates. 

Barring ITC, Bajaj Auto and Cipla, which managed gains of up to 0.5 per cent, all of the 50 stocks in the Nifty basket finished the day in the red. Adani Enterprises and Adani Ports, falling 11 and seven per cent respectivel, were the top laggards in the pack. Grasim, Bajaj Finance, Bajaj Finserv, JSW Steel, Reliance, Wipro, HDFC Bank and HDFC were some of the other blue-chip stocks that fell the most. ALSO READ: All Adani group stocks bleed; a look at latest in Adani vs Hindenburg

Among heavyweights, Reliance, the HDFC twins, ICICI Bank, Infosys, Bajaj Finance and Adani Enterprises posed the maximum pressure on the 50-scrip index.

Global market update: European markets started the day lower, mirroring negative moves across their Asian peers, amid weakness in mining stocks thanks to falling metal prices.The pan-European Stoxx 600 index fell 0.5 per cent at the last count. Dow Jones futures were flat, indicating a muted opening ahead on Wall Street. 

The slide in global markets came about after a key PMI reading showed a rebound in US business activity, sparking fears of a prolonged period of aggressive hikes in benchmark interest rates. Major central banks such as the Fed and the RBI are scrambling to raise interest rates in a bid to control red-hot inflation without hurting GDP growth. 

All eyes are on minutes of the latest FOMC review due for release later in the day.

Catch all the market action, market commentary and analysis only on Zeebiz.com's blog, besides the views of Zee Business Managing Editor Anil Singhvi and other experts, financial results, investment ideas and stock picks:  

Latest Updates

Wed, February 22, 2023, 16:32 PM

Thank you! That's all today on Zeebiz.com's stock market blog

For all other news related to business, politics, tech, sports and auto, follow us on Twitter, Facebook, LinkedIn and Instagram. 

Wed, February 22, 2023, 16:13 PM

RBI MPC Meeting: Minutes of the February 2023 review due shortly

Economists and investors alike will closely look out for details on the views of the six MPC members, including RBI Governor Shaktikanta Das. In the February 6-8 review, the RBI's rate-deciding planel voted 4:2 to increase the repo rate as well as continue with its existing policy stance of "withdrawal of accommodation".

They will also track the MPC members' remarks on consumer inflation and economic growth. 

Read more on RBI MPC minutes

Wed, February 22, 2023, 16:10 PM

Global Market Update | European shares mirror Asian peers amid global sell-off  

European markets begin the day in the red, tracking negative moves across their Asian peers, weighed down by mining stocks as metal prices drop and as strong economic data sparks worries that benchmark interest rates could stay higher for longer.

The pan-European Stoxx 600 index is down 0.5 per cent at this hour.

  • UK's FTSE: down 1.2 per cent
  • France's CAC: down 0.9 per cent
  • Germany's DAX: down 0.7 per cent

All eyes are on minutes of the latest FOMC review due for release later in the day.

Wed, February 22, 2023, 16:02 PM

BEWARE! | Cyber-criminals misusing Anil Singhvi's name to scam WhatsApp users with fraudulent messages

 

#FakeAlert  पैसे ऐंठने के लिए जालसाजों का नायाब पैंतरा #AnilSinghvi के नाम पर WhatsApp पर भेजें जा रहे हैं फर्जी मैसेज

Social Media के जरिए कैसे हो रही है ठगी?

Fraud से बचने के लिए दर्शकों से @AnilSinghvi_ ने क्या अपील की?

जरूर देखिए ये वीडियो#ZeeBusiness @MumbaiPolice pic.twitter.com/uRfxHZNGNA

— Zee Business (@ZeeBusiness) February 21, 2023

 

Read more on this shocking news

Wed, February 22, 2023, 15:58 PM

Worst day for Adani Enterprises shares in two weeks as group stocks bleed

Shares in the Adani group flagship, Adani Enterprises (ADANIENT), finish weaker by Rs 163.6 or 10.4 per cent at Rs 1,404.9 apiece on BSE — their worst percentage fall since February 9, 2023.

Simply put, today's fall in ADANIENT shares is the worst in almost two weeks.

Stock Change (%) Closing price
Adani Enterprises -10.4 1,404.9
Adani Ports -6.3 546.9 
Adani Transmission -5 788.8
Adani Green Energy -5 539.3 
Adani Total Gas -5 835 
Adani Wilmar -5 390.4 
Adani Power -5 162.6 
NDTV -4.9 202 
Ambuja -4.9 335.6
ACC -4 1,755.2

Read more on Adani shares

Wed, February 22, 2023, 15:29 PM

Share Market Update | Sensex crashes 928 pts to end at 59,745 ahead of F&O expiry day, Nifty50 slumps to 17,553

Both headline indices finish the wild session on Dalal Street 1.5 per cent weaker.

The Sensex loses 927.7 points to settle at 59,745 and the Nifty50 ends at 17,552.6, down 274.1 points from its previous close. 

Here's how the gauges moved through the day:  

Sensex

Nifty50

Read more on the February 22 session

Wed, February 22, 2023, 15:12 PM

Share Market Tips LIVE | Ruchit Jain recommends buying Symphony shares

Ruchit Jain of 5aisa has one 'buy' call for Zee Business viewers: 

Buy Symphony for targets of Rs 1,200 and Rs 1,240 with a stop loss at Rs 1,070 

 

 

Wed, February 22, 2023, 14:59 PM

Did you know NSE has extended interest rate derivatives timings by 90 minutes?

NSE has extended the market hours for trading in interest rate derivatives by 90 minutes, to 9 am-5 pm from 9 am-3:30 pm. The change will come into effect from February 23.

The move is aimed at converging the timings of the segment with those of the underlying market, which is the money market.

Read more on NSE's move on currency derivatives trading hours

Wed, February 22, 2023, 14:57 PM

RBI to release minutes of first MPC review of 2023 today

RBI Governor Shaktikanta Das-led Monetary Policy Committee — the interest rate-setting panel of the central bank — is all set to release minutes of its first review of 2023 later in the day.

The minutes come just ahead of the release of an official quarterly GDP reading scheduled for February 24. 

Read more on upcoming RBI MPC review minutes 

 

Wed, February 22, 2023, 14:03 PM

Nifty Bank Today | Banking index slides below 40,000 for first time since February 2; HDFC Bank, ICICI Bank, Kotak Mahindra Bank, SBI lead losses

Wed, February 22, 2023, 13:52 PM

Nifty LIVE Today | All but four Nifty50 stocks in the red amid stock market crash

ITC, Divi's, Sun Pharma and Cipla, holding on barely to the green with gains of up to 0.4 per cent, are the only gainers in the Nifty50 basket at this hour. Here's a look at the top 10 laggards in the 50-scrip basket at this hour:

 

Stock Change (%) CMP
TATASTEEL -1.7 111.2
HDFCBANK -2 1,614.3
RELIANCE -2 2,385.1
BAJAJFINSV -2.3 1,362.5
NTPC -2.4 169.1
BAJFINANCE -2.7 6,206.2
JSWSTEEL -2.9 699.6
GRASIM -3.5 1,576
ADANIPORTS -4.9 554.7
ADANIENT -9.7 1,419.2

Reliance, HDFC twins, ICICI Bank, Infosys and Bajaj Finance weigh on the Nifty50 gauge the most.

Here's what the heatmap looks like:

 

Wed, February 22, 2023, 13:09 PM

Stock Market LIVE | Nifty50 plunges more than 250 pts, near 17,550 amid market crash

The Nifty50 benchmark slides to 17,562.5 at the weakest level of the day, shedding 264.3 points — or 1.5 per cent — from its previous close. 

Wed, February 22, 2023, 12:52 PM

Stock Market Tips LIVE | Swati Hotkar recommends buying Nocil shares, selling Apollo Tyres shares

Swati Hotkar of Nirmal Bang Securities shares two stock picks with Zee Business viewers: 

  • Buy Nocil for a target price of Rs 240 with a stop loss at Rs 222 
  • Sell Apollo Tyres for a target of Rs 312 with a stop loss at Rs 332 
Wed, February 22, 2023, 12:37 PM

Sensex LIVE Today | 30-scrip index slides below 60,000 mark for first time in three weeks

The Sensex slides as much as 720.3 points or 1.2 per cent to 59,952.4 — cracking below the 60,000 mark for the first time since February 2. 

Wed, February 22, 2023, 11:25 AM

Adani-Hindenburg Saga | Give details on loans, securities of Adani group firms: Sebi to rating agencies

Market regulator Sebi asks credit rating agencies to share details of all the ratings on the Adani group's local loans and securities. 

Read more on this big story on Adani group companies

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