Deepak Jasani, Head of Retail Research, HDFC Securities

Indian benchmark equity indices fell for the fourth straight day (longest streak in a month) ahead of the U.S. Federal Reserve policy statement later tonight. Caution descended on markets on Wednesday with world stocks holding below recent record highs as investors waited to see whether the US Federal Reserve tonight would signal a faster path toward policy normalisation than previously expected.

Nifty has got into a minor correction and 14,336-14,529 band seems to be the next support level. A deeply negative advance-decline ratio is indicative of minor panic among investors to reduce their exposure to these segments. A dovish than expected Fed statement tonight could result in a gap up opening, but whether Nifty is able to hold such a gain will be crucial to watch.

Mar 17, 2021 4:20 PM

Ajit Mishra, VP - Research, Religare Broking

Markets lost over a percent amid volatility and settled around the day’s low as well. The news of rising COVID cases in India and caution ahead of the US Fed meet were weighing on investors’ sentiments.

Markets would first react to Fed meet outcome in early trade on Thursday. We maintain our cautious view and suggest keeping the long positions hedged. A decline below 14,600 in Nifty would pave the way for a further slide. We’re seeing profit-taking across the board except IT and FMCG so plan your trades accordingly.

Mar 17, 2021 4:19 PM

Abhishek Chinchalkar, CMT Charterholder and Head of Education, FYERS

Indian markets fell for a fourth session today, weighed by weakness across all the sectors. The broader markets also cracked notably, with the Midcap 100 and Smallcap 100 index each declining over 2%. Sector wise, all the sectors ended in red led by losses among PSU banks and realty stocks.

Nifty formed a tall bearish candle today with negligible shadow and closed right near the critical 50-day moving average support. Since October of last year, the 50-day MA has acted as a strong floor for Nifty, with every decline near this average being met with a strong recovery. Hence, for the short-term, one needs to closely monitor how Nifty trades near the 50-day MA. Sustainability below the same would be a bearish development and could lead to short-term correction in the index towards 14,360.

Mar 17, 2021 4:02 PM

Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services

The trading in USDINR spot is very lackluster ahead of the Fed’s outcome. The forex market will react to this FOMC policy only through the prism of US Treasuries. If Powell presents a dovish narrative then we may see a modest gain in the emerging market currencies later this week. However, any signal or inclination to start raising interest rates in 2023, and no expression over inflation will fuel the dollar rally. In USDINR spot 72.40-72.50 is acting as a strong support zone, a break of which can push prices towards 72.20-72.25, while 73 will act as a crucial resistance.

Mar 17, 2021 4:01 PM

Mar 17, 2021 3:58 PM

Mar 17, 2021 3:57 PM

Here are key stocks that moved the most on March 17

The Sensex ended 562 points lower at 49,801 while the Nifty fell 189 points to settle at 14,721.Get latest Market online at cnbctv18.com

Mar 17, 2021 3:41 PM

Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

The index has continued to respect the 14,700-14,750 support range. Short to medium-term weakness will be triggered once we break 14,700 on a closing basis. Thereafter 14,300-14,400 is a possibility. On the upside, unless we do not get past 15,300, we will not see a bullish trend. The current range is between 14,700-15,300 and unless we do not get past either of them, we will continue to see uneventful trading sessions.

Mar 17, 2021 3:41 PM

Market At Close

- Market Slips In Last Hour Of Trade, Ends Near Session Low

- Nifty Sheds More Than 200 Points To End At 14,721; Sensex Ends At 49,801

- Broader Market Underperforms; Private Banks Drag Nifty Bank By Almost 2%

- Nifty Bank Ends At 34,229, Down 575 Points; All Constituents End In The Red

- Midcap Index Gives Up 700 Points From Top After Opening In The Green

- Reliance & Financials Contribute Most To Nifty’s Fall

- Only 5 Nifty Stocks End In The Green Today

- BPCL Top Index Loser Today After Co Announced Lower-than-expected Dividend

-Market Breadth Tilts In Favour Of Declines In Last Hour; Ratio At 1:5

Mar 17, 2021 3:40 PM

Closing Bell | Indian equity indices ended sharply lower Wednesday dragged by across the broad selling amid mixed global cues. The Sensex plunged 562.34 points, or 1.12 percent to 49,801.62, while the Nifty closed 189.15 points, or 1.27 percent lower at 14,721.30. Smallcap and midcap indices declined over 2 percent each. All the sectoral indices ended in the red with the Nifty PSU Bank falling the most over 4 percent followed by Nifty Realty, Nifty Metal, Nifty Pharma, Nifty Auto and Nifty IT.

On the Nifty50, BPCL, ONGC, Tata Motors, Adani Ports & SEZ and Coal India were the top losers, while ITC and Infosys were the only index gainers.

Mar 17, 2021 3:35 PM

Mar 17, 2021 3:30 PM

BPCL's interim dividend disappoints D-Street; shares fall

Bharat Petroleum Corporation Ltd (BPCL) share price declined 5 percent on Wednesday after the company announced an interim dividend of Rs 5 a share, which was significantly below street expectations. The street has expected a dividend of around Rs 40 and Rs 45 per share from the company. The record date for the said dividend is March 27.

According to Citi, the dividend is much lower than what the street was working with. However, the brokerage remains positive on the stock and maintains a buy rating with a target price of Rs 505 per share. Citi has a buy rating on all the three oil marketing companies (OMC) as it is of the view that the stocks continue to trade at compelling valuations. BPCL's ongoing privatisation remains the focal point for investors, it said.

Mar 17, 2021 3:14 PM

Dabur's new management laid foundations for long-term growth, says CLSA; reiterates buy

FMCG major Dabur is likely to be a key beneficiary of increasing consumer focus on healthy lifestyles and the government's push for Ayurvedic medicines in the country, analysts said. Also, the company's new management has transformed its prospects and laid the foundations for long-term growth, global brokerage CLSA said in a report.

CLSA has reiterated a ‘buy’ rating for Dabur with a target price of Rs 650 per share. The brokerage is of the view that the company is not only a play on the increasing consumer focus on healthy lifestyles but also on government efforts to push Ayurvedic medicine. Read more.

Mar 17, 2021 3:02 PM

Demand has picked up significantly in PV segment across cities: CEAT

CEAT is entering into a new business model and strategy and is looking to expand its retail network in the next two years. Arnab Banerjee, Chief Operating Officer at CEAT, said, "It is not a reorganisation per se but doubling down on certain strategies, especially, on the passenger side. They have made huge capex and it is still going on. Now it is the time for operating leverage and we are seeing big opportunities in terms of passenger four-wheeler growth both in bigger cities and in the smaller towns.” Watch here.

Mar 17, 2021 2:50 PM

Is Suryoday Small Finance Bank IPO a good bet? Brokerages have mixed reviews

Analysts have mixed views on the IPO and are confused between high valuations and good return ratiosGet latest Market online at cnbctv18.com

Mar 17, 2021 2:35 PM

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