Sensex Today Trades Flat | Steel Stocks Drag | Ipca Labs Jumps 6%, IRFC Tanks 5%

Thu, 14 Mar 10:30 am

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Asian share markets held near seven-month highs on Thursday though traded mostly sideways as investors awaited fresh catalysts that would provide further clarity on the global interest rate easing cycle.

MSCI's broadest index of Asia-Pacific shares outside Japan was last little changed and strayed not too far from a seven-month peak hit in the previous session, as traders shrugged off higher-than-expected US inflation rate data.

US markets fell on 13 March, giving up yesterday's gains as growth stocks pulled the indices lower.

Here's a table showing how US stocks performed on Wednesday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	140.77	1.15	0.82%	142.19	140.01	155.2	92.78
Apple	171.13	-2.1	-1.21%	173.19	170.76	199.62	149.92
Meta	495.57	-4.18	-0.84%	500.98	491.03	523.57	186.56
Tesla	169.48	-8.06	-4.54%	176.05	169.15	299.29	152.37
Netflix	609.45	-1.63	-0.27%	614.85	607.21	624.42	290.31
Amazon	176.56	1.16	0.66%	177.62	175.55	180.14	92.71
Microsoft	415.1	-0.18	-0.04%	418.18	411.45	420.82	255.86
Dow Jones	39043.32	37.83	0.10%	39201.94	38937.92	39282.28	31429.82
Nasdaq	18068.47	-150.65	-0.83%	18163.74	18030.4	18416.73	12026.18

Source: Equitymaster

At present, the BSE Sensex is trading 38 points lower and NSE Nifty is trading 7 points higher.

Adani Enterprises, Adani Ports and L&T are among the top gainers today.

TCS, Tata Steel and Bajaj Finance on the other hand are among the top losers today.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets are trading mixed. The BSE Midcap index is trading 0.7% higher and the BSE Small Cap index is trading 1.3% higher.

Sectoral indices are trading mixed, with socks in telecom sector, oil & gas sector and banking sector are witnessing buying. Meanwhile, stocks in realty sector and banking sector are witnessing selling pressure.

The rupee is trading at Rs 82.87 against the US dollar.

In commodity markets, gold prices are trading marginally higher at Rs 65,825 per 10 grams today.

Meanwhile, silver prices are trading 0.2% higher at Rs 75,333 per 1 kg.

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...

Speaking of stock markets, does back of the envelope calculation work in a field like investing as well? Or is it a field where one is required to apply scientific rigor and precision?

Well, if you look at all the great investors like Ben Graham, Warren Buffett, and Peter Lynch, I don't think any of them applied complex mathematical formulae to evaluate their investments.

Co-head of Research at Equitymaster, Rahul Shah show how you can use a simple back-of-the-envelope calculation to decide whether a stock can be considered for investment or whether it should be rejected, in his latest video.

Tune in to the below video:

Tata Motors to Set Up Vehicle Manufacturing unit

Tata Motors on Wednesday signed a pact with the Tamil Nadu government to set up a vehicle manufacturing plant in Ranipet near Vellore with an investment of Rs 90 bn.

The investment over five years, is expected to create over 5,000 jobs.

This comes at a time when the company is planning to split its passenger and commercial vehicle businesses into two listed companies. Trucks, and buses with related investments will be housed in one entity, while the second company will include passenger cars, electric vehicles (EVs), and Jaguar Land Rover.

This is the second major automobile-related investment in the state in almost two months.

Vietnam-based EV player VinFast, a rival of Tesla in the global market, started work on building its Rs 160 bn EV manufacturing facility at Thoothukudi in Tamil Nadu.

The company's move is seen as an attempt to expand its manufacturing footprint in South India. The company has manufacturing plants at Dharwad (Karnataka), Jamshedpur (Jharkhand), Pune (Maharashtra), Lucknow (Uttar Pradesh), Pantnagar (Uttarakhand), and Sanand (Gujarat).

Following the signing of the memorandum of understanding (MoU), teams from Guidance, Tamil Nadu's nodal agency for investment promotion and facilitation, and Tata Motors will work together to take this opportunity forward.

Tata Motors shocked investors with a post-market demerger announcement. To know if it can fulfil its growth commitments, check out our editorial Tata Motors Demerger: Will Shareholders Witness Value Unlocking?

Zydus Launches Anti-cancer Drug

Zydus Lifesciences on Wednesday said it has launched olaparib, a PARP inhibitor, under the brand name IBYRA in India, making advanced cancer treatment accessible to all.

PARP (poly-ADP ribose polymerase) is a protein that helps damaged cells to repair themselves. As a cancer treatment, PARP inhibitors block the PARP from doing its repair work in cancer cells, and the cell dies.

The drug will target specific genetic mutations prevalent in certain types of cancers, paving the way for a more tailored and effective treatment approach.

To help identify the right patients and facilitate access, Zydus has collaborated with MedGenome for comprehensive HRD testing. This along with a year-long treatment of IBYRA has been capped at Rs 3 lakhs, as compared to the cost of around Rs 7.2 million (m) by the innovator.

Out of 1.4 m newly diagnosed cancer patients in India, nearly 0.3 m patients are diagnosed with breast, ovarian, prostate and pancreatic cancers as per Globocan 2022 data.

Amongst these patients, those who are diagnosed as HRD positive or with BRACA mutation need to be administered this PARP inhibitor, which can delay the progression of the disease. IBYRA is the next-gen targeted therapy for HRD-positive and BRACA-positive cancer patients.

Federal Bank Stops Issuance of New Co-Branded Credit Cards

Federal Bank has stopped issuing new co-branded credit cards, citing regulatory guidance from the Reserve Bank of India (RBI). The move comes as part of the bank's commitment to rectify areas of deficiency outlined in a letter from the RBI and to ensure compliance with regulatory standards.

The Federal Bank, in its notice, assured customers that it is actively working to address the identified issues and will seek regulatory clearance before resuming the issuance of new co-branded credit cards.

Despite the temporary suspension of new co-branded credit card issuance, the Federal Bank said it remains committed to serving its existing customers who currently hold co-branded credit cards.

Customers with these cards can expect continued support and service from the bank.

In addition, the Federal Bank emphasised that it will continue to offer credit cards in the non-co-branded segment.

In another development, South Indian Bank also announced a temporary suspension of onboarding new customers for its co-branded credit cards in compliance with RBI's directives.

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

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

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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