SGX Nifty Down 160 Points | HFCL Partners Microsoft for Private 5G | Bitcoin at 3-Week Low | Top Buzzing Stocks Today

Fri, 10 Mar Pre-Open

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On Thursday, Indian share markets fell in early trade and extended losses as the session progressed.

Benchmark indices ended lower as heavyweights like Reliance and Adani group stocks were hit hard.

Concerns of a prolonged high-interest rate regime weighed on sentiment.

At the closing bell on Thursday, the BSE Sensex stood lower by 542 points (down 0.9%).

Meanwhile, the NSE Nifty closed lower by 165 points (down 0.9%).

Tata Steel, L&T, and Apollo Hospital were among the top gainers.

Adani Enterprises, M&M, and Reliance, on the other hand, were among the top losers.

Broader markets ended on a negative note. The BSE Midcap index fell 0.6% and the BSE SmallCap index fell 0.2%.

Sectoral indices ended on a mixed note with stocks in the metal sector and power sector witnessing buying.

While stocks in the auto sector, realty sector, and IT sector witnessed heavy selling.

Shares of Procter & Gamble Health and Jindal Saw hit their 52-week highs on Thursday.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee was trading at 82.05 against the US$.

Gold prices for the latest contract on MCX were trading higher by 0.1% at Rs 54,995 per 10 grams at the time of Indian market closing hours on Thursday.

At 8:10 AM today, the SGX Nifty was trading down by 160 points or 0.9% lower at 17,460 levels.

Indian share markets are headed for a gap-down opening today following the trend on SGX Nifty.

Speaking of stock markets, find out why timing the market is equally important as time in the market.

Which way will the pendulum swing? Is it Greed or Fear? Find out in the below video as Aditya Vora decodes some myths about timing the market.

Top Buzzing Stocks Today

Glenmark Pharma will be among the top buzzing stocks today.

Glenmark Pharma on Thursday entered into an exclusive agreement with Cediprof Inc.

The pact is for supply and distribution in the US for the latter's generic drug indicated for the treatment of attention deficit hyperactivity disorder.

Adani Enterprises will also be in focus today.

Adani Enterprises and two other group stocks, Adani Power & Adani Wilmar, were put under the short-term additional surveillance mechanism (ASM) framework by National Stock Exchange (NSE) on Thursday.

HFCL partners Microsoft for private 5G

Homegrown telecom gear maker HFCL on Thursday collaborated with Microsoft to roll out private 5G solutions for enterprises.

The collaboration is to create converged private 5G solutions that harness new-age technologies of IoT, cloud, edge computing, AI and much more.

The firm is deploying one such Private 5G-enabled Industry 4.0 solution as a pilot programme using Microsoft Azure public MEC and HFCL 5G Indoor Small Cell at its optical fiber manufacturing plant in Hyderabad.

Along the fiber production line, HFCL's 5G small cells enable real-time fiber defect detection using video analytics and image processing.

Through this AI-enabled, cloud-connected and low-latency private 5G solution, HFCL is improving the operational efficiency and manufacturing agility of its fiber plant.

HFCL is also using Azure for its Rise with SAP project. Furthermore, HFCL has deployed its Cloud Network Management System (CNMS) on Azure to provide centralised visibility and control of its IO portfolio of communication products.

HFCL is an India-based company that is primarily engaged in the manufacturing of telecommunication equipment, optical fiber cables and intelligent power systems.

Since 5G stocks interests you, check out Equitymaster's Indian stock screener which has a separate screen for top 5G companies in India.

Bitcoin dives to 3-week low

Bitcoin fell to a three-week low, sapped by the collapse of crypto-friendly bank Silvergate Capital Corporation and the prospect of higher-than-expected central bank interest rates.

The largest token fell as much as 1.9% on Thursday, dropping for a fourth session, and was trading at about US$ 21,780. Smaller coins ranging from Ether and Solana to Avalanche were subdued.

Silvergate bank, which closed key crypto payments network last week, announced it plans to liquidate. The US lender is another victim of the digital asset route and the blowup of the FTX exchange.

Few banks are willing to work with the volatile crypto sector, and Silvergate's demise adds to that challenge.

Apart from it, the global cryptocurrency market cap was trading lower, around US$ 996.91 billion (bn), falling 0.93% in the last 24 hours.

The crypto market cap slipped below the US$ 1 trillion (tn) mark as the US central bank sent strong signals about tackling inflation through strict monetary policies and rate hikes.

Hawkish monetary policies may decrease the liquidity in the market in the coming weeks, which may result in further price falls.

Bitcoin has gained more than 30% so far this year, clawing back some of its losses of almost 65% in 2022 that were triggered by a string of high-profile corporate failures in the crypto world.

Since cryptos interest, you, check out the best cryptos to invest.

Two Adani companies pledge equity

The promoters of Adani Transmission and Adani Green Energy have pledged equity of 0.76% and 0.99% in favour of SBICAP Trustee Company, a unit of the country's largest lender State Bank of India (SBI).

This comes almost a month after the two companies, along with Adani Ports and Special Economic Zone (APSEZ), had pledged shares to SBICAP Trustee.

At current prices, the pledged shares are worth Rs 16 bn. After the additional security, the quantum of shares pledged by the business tycoon stands at 1.32% of Adani Transmission and 2%of Adani Green Energy.

Separately, Adani Group repaid about Rs 41 bn (US$ 5 m) bridge loan due on Thursday.

The bridge loan was taken to finance the purchase of Ambuja Cements and ACC, and was underwritten by Barclays, Deutsche Bank and Standard Chartered Bank.

For more details, check out Equitymaster's Indian stock screener which shows all the Adani group companies' fundamental analysis on one screen.

Dig deeper into Adani group stocks.

To know what's moving the Indian stock markets, check out the most recent share market updates here.

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers