[14/03 Market Update] Adani Ent (-7%) & Adani Ports (-4%) plunged after profit booking
[14/03 Market Update] Adani Ent (-7%) & Adani Ports (-4%) plunged after profit booking
Tribe Daily
Market Summary
Market falls for 4th straight day as heavyweights remain under pressure
Companies
BPCL (1%) rises as Sukhmal Jain takes over as Director (Marketing). Titan Company (+1%) rises as HSBC gave a buy rating. Adani Ent (-7%) & Adani Ports (-4%) plunged after profit booking & the government issues a statement on the Adani-Hindenburg crisis.
Sectors
Nifty IT (-2%) fall due to weak performance of Coforge, Mphasis & Persistent on the basis of US Banks’ exposure. Nifty PSU Bank (-2%) fall due to weak performance by Indian Bank, Bank of India & IOB.
Market News
1.Silicon Valley Bank collapse, Financial Stocks Lose $465 Bn In 2 Days.(NDTV)
2.Bears tighten grip on Dalal Street. Investors lose Rs 9.56 lakh cr in four-day turmoil. (Money control)
3.Wholesale Inflation Falls To 3.85% In February, Lowest In 2 Years (NDTV)
4.Infosys to announce Q4 results, dividend on April 13. (Economic Times)
5.LIC appoints Tablesh Pandey as Managing Director with effect from April 1. (Economic Times)
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