Sensex Today Ends 361 Points Lower | Broader Markets Outperform | Tata Investment Corporation Falls 5%

Tue, 26 Mar Closing

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After opening the day marginally lower, Indian share markets continued the downtrend as the session progressed and ended the day lower.

Equity markets were trading on a tepid note Tuesday amid a largely muted trend in Asia.

At the closing bell, the BSE Sensex stood lower by 361 points (down 0.5%).

Meanwhile, the NSE Nifty closed lower by 76 points (down 0.3%).

Hindalco, Adani Ports and NTPC were among the top gainers today.

Wipro, HDFC Bank and Eicher Motors on the other hand, were among the top losers today.

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

The GIFT Nifty ended at 22,087 up by 34 points.

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

Broader markets ended the day mixed. The BSE Mid Cap ended 0.7% higher and the BSE Small Cap index ended 0.2% lower.

Sectoral indices are trading mixed, with stocks in realty sector and capital goods sector witnessing buying. Meanwhile stocks in IT sector and telecom sector witnessed selling pressure.

Shares of Bosch, Crisil and Thermax hit their respective 52-week highs today.

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 is trading at 83.28 against the US$.

Gold prices for the latest contract on MCX are trading 0.3% higher at Rs 66,247 per 10 grams.

Meanwhile, silver prices are trading 0.2% higher at Rs 75,058 per 1 kg.

Speaking of stock markets, in 1947 a group of researchers at Bell Labs, a subsidiary of AT&T, invented the transistor, a switch that controls electric current.

Within decade researchers were placing several transistors on a slab of silicon to make a chip.

A thriving industry grew up around California, outsourcing low-value tasks, such as chip assembly, to Asia, where labour was cheaper.

As the market grew, so did interest from America's rivals.

Japanese firms such as Toshiba and Fujitsu managed to take a share of some chip markets.

Decades later China's tech titans reduced the country's dependence on foreign chips.

Now it is India's turn.

Co-head of Research at Equitymaster, Tanushree Banerjee talks about how you could cash in, in her latest video.

Tune in to the below video:

Why Adani Power Share Price is Falling

In news from the power sector, shares of Adani Power edged lower on 26 March after the company announced the disclosure of a new litigation matter.

The Maharashtra State Electricity Distribution Company (MSEDCL) has filed a petition with the Maharashtra Electricity Regulatory Commission (MERC) about how to calculate domestic coal transportation costs.

Adani Power is likely to be among the biggest beneficiaries of the semi-annual rejig of NSE Nifty indices, which will take place later this week on 28 March, with adjustments on 27 March. The stock may attract inflows of around US$ 45 million (m), the highest due to the NSE rejig.

Earlier in March, the Committee of Creditors of Lanco Amarkantak Power Limited approved the resolution plan submitted by Adani Power. In this regard, Adani Power received a Letter of Intent from Lanco Amarkantak's resolution professional approving the company's resolution plan on 4 March 2024.

With increasing demand for electricity, which of these power behemoths is better at grabbing the opportunity, check out Adani Power vs Tata Power: Which Power Stock is Better for 2024?

Why RailTel Corporation Share Price is Rising

Moving on to news from the railway sector, RailTel Corporation of India's share price gained 2% in the opening trade on 26 March after the company bagged a work order worth Rs 363.5 million (m).

The said contract is to be executed by 19 July 2024.

The company received the work order from the State Project Director (Spd) Bihar Education Project Council (Bepc) for the supply of Student Kits (Teaching Learning Material) for Class VI to XII under a rate contract arrangement, amounting to Rs 99,01,95,806 and order amounting to Rs 1.3 bn for the supply of teaching and learning material for Class I to V.

The company also bagged a work order from the Municipal Corporation of Greater Mumbai for the supply, installation, testing, commissioning, operations, and maintenance of HMIS for the Health Department of BMC, amounting to Rs 351,95,23,654.

It also won a work order from the Odisha Computer Application Centre amounting to Rs 1.1 bn for the establishment of an IP-MPLS Network Connectivity in Odisha under OdishaNet Phase 1.

Ambuja Cement Offloads 2% Stake in Sanghi Industries

Moving on to news from the cement sector, on 26 March, shares of Adani Group-owned Ambuja Cements were trading in the green after it sold 5.2 m equity shares of Sanghi Industries, which represents around 2% of the paid-up equity of the firm.

The stake was offloaded by Ambuja Cements through open market transactions to comply with the minimum public shareholding norms.

With this, Ambuja Cement's shareholding in the company came down to 60.4%, from 62.4% earlier.

Last August, Ambuja Cements purchased a 56.7% stake in the Gujarat-based cement firm for an enterprise value, totalling Rs 50 bn.

Additionally, the promoter group's remaining 5.7 m equity shares, equivalent to 2.2% of the company, were bought in a separate transaction.

Further, Ambuja Cements decided to acquire an additional 26% stake through an open offer. In December 2023, Ambuja Cements announced the completion of the acquisition of Sanghi Industries at a revised offer price of Rs 121.9 per share from Rs 114.2.

On 21 February, Ambuja Cements said it plans to invest Rs 10 bn to set up a cement grinding unit in Godda district of Jharkhand. The new 4 Million Tonne Per Annum (MTPA) cement grinding unit will be set up after requisite approvals.

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!

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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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