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Benchmark equity indices erased earlier gains and closed in the red as investors sold IT, financials and auto stocks in the second half of the session. The Sensex lost 0.12% and the Nifty 50 dropped 0.17%.
Broader markets performed better compared to its benchmark counterparts. Nifty Midcap 100 rose 0.64% and BSE Smallcap advanced 0.93%.
Top gainers among Nifty sectors were Realty [3.15%], PSU Bank [1.04%] and Media [0.73%]. Top loser were Auto [-0.21%] and Financial Services [-0.19%].
Indian rupee rose 32 paise to 74.56 against the US dollar.
Stock in News Today
Reliance Industries Ltd (RIL): India could become a global green energy superpower with exports of clean energy rising to $500 billion over the next 20 years, Mukesh Ambani, chairman of oil-to-telecom conglomerate Reliance Industries, said, according to Reuters. “Next 20 years, I believe, along with technology, will mark India’s emergence as a superpower in energy and life sciences,” Ambani said at the Asia Economic Dialogue.
Maruti Suzuki India (MSI): The country’s largest carmakerl aunched the all new version of its premium hatchback Baleno priced between Rs 6.35-9.49 lakh (ex-showroom). The manual trims of the model are priced between Rs 6.35 lakh and Rs 8.99 lakh while the automatic variants with auto gear shift technology are priced between Rs 7.69 lakh and Rs 9.49 lakh.
Adani Enterprises Ltd: The company announced divestment of its entire stake in DC Development Hyderabad Pvt Ltd and Naida Data Center (NDCL) to AdaniConnex Pvt Ltd. Subsequently, DC Development Hyderabad and NDCL have ceased to be wholly-owned subsidiaries of the company, Adani Enterprises said in a regulatory filing.
TVS Motor: The company said that its two-wheeler exports clocked 1 million units (including sales from TVS Motor Company and PT TVS, Indonesia) in FY21-22. The company has achieved this significant export milestone in a financial year for the first time. The key exports include the TVS Apache series, TVS HLX series, TVS Raider, and TVS Neo series.
Future Group: The Supreme Court on Wednesday asked Amazon and to request the NCLAT to decide a plea challenging the revocation of sanction to the US e-commerce major for its deal with Future group’s firm by the Competition Commission of India. The suggestion was mooted by a bench headed by Chief Justice N V Ramana while adjourning to March 9 the hearing on Amazon’s appeal against the January 5 order of the Delhi High Court.
Zee Entertainment Enterprise Ltd (ZEEL): The media firm has moved an application before the National Company Law Tribunal (NCLT) requesting the dismissal of the plea filed by private sector lender IndusInd Bank against the company. IndusInd Bank had moved NCLT claiming default of Rs 83.08 crore against the media & entertainment firm.