Closing Bell: Nifty below 21,600, Sensex plunges 1,628 pts; Nifty Bank down 4%

Market registered a biggest single-day fall in last 1.5 years with Nifty below 21,600. At close, the Sensex was down 1,628.01 points or 2.23 percent at 71,500.76, and the Nifty was down 460.30 points or 2.09 percent at 21,572.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices/ for all the global market action.

Markets went into a tailspin led by banking stocks as HDFC Bank faltered sharply on worries of a drop in total deposits in the December quarter over the preceding quarter. The fall in banking had a rub-off effect on rate-sensitive sectors as automobile and realty stocks too witnessed frenzied selling.

India's stock market valuations are expensively valued compared to other global stock indices and investors would wait for more positive cues now to extend their equity exposure. There are challenges in the near term such as persisting conflict in the middle-east and worries over delay in US Fed rate cut, which could dampen investors' sentiment going ahead.

The Nifty opened gap down and continued to drift lower throughout the day. It closed deep in the red down 460 points. On the daily charts, we can observe that the prices have witnessed a decisive break below the 20-day moving average (21629) which is a sign of weakness. The daily momentum indicator has triggered a negative crossover which is a sell signal. Thus, both price and momentum indicators are pointing toward weakness. The ideal strategy to trade this fall would be sell on rise near the resistance zone (21800 – 21820). On the downside we expect the Nifty to target levels of 21167 which is the 40-day moving average and below that it can slip towards 20870 which is the 38.2% Fibonacci retracement level of the rise the Nifty has witnessed from 18837 – 22124.

Bank Nifty has led the fall today. On account of the fall, the Nifty has decisively closed below the 40-day moving average (46887) which is a sign of weakness. The daily momentum indicator has a sell signal. Thus, price and momentum indicator suggests weakness from short term perspective. We expect the the Bank Nifty to drift towards, 45400 which coincides with the 20-week average and the 50% Fibonacci retracement level of the rise from 42105 – 48636.

Markets plunged sharply on Wednesday and lost nearly 2%, tracking feeble cues. Pressure in the private banking majors post HDFC Bank’s number combined with weak global cues was weighing on the sentiment. All key sectors, barring IT, surrendered to the fall wherein banking, metal and auto were among the top losers. Surprisingly, the broader indices managed to outperform the benchmark and shed nearly a percent each.

Nifty has engulfed the gains of the last four sessions but somehow managed to hold the support zone of the short term moving average (20 EMA). The close indicates more pain ahead and can gradually inch towards the 21,200-21,450 zone. We thus suggest reducing existing longs on the bounce and looking for shorting opportunities as well.

Nifty witnessed a significant decline driven by profit-taking following its record high of 22,124 in the previous trading session. Wednesday's profit booking led the index to the 21-day Exponential Moving Average, a crucial short-term moving average. Sentiment could potentially deteriorate further if Nifty drops below 21,550, where the 21EMA is situated. On the downside, a breach of 21,550 may result in the index descending towards 21,350. Conversely, on the upside, resistance is observed at 21,650.

Bank Nifty experienced a sharp decline on the back of sell off in the heavyweight HDFC Bank. The index sharply fell below the 38.20% Fibonacci Retracement level of the previous leg of rally (from 43,230 to 48,347). Additionally, the index retreated within the area of the previous swing high after a consolidation breakdown on the daily chart. The sentiment may remain weak, with immediate support at 45,900-45,930. A drop below 45,900 could potentially initiate a further correction towards 45,500. On the upside, resistance is identified at 46,350.

Rupee traded flat in range of 83.10-83.16 with dollar index rising and sell off in capital markets, rupee weakness can continue towards 83.25-83.30. US retails data will be in focus in evening which can give dollar new triggers. Range for rupee can be seen between 82.90-83.30.

Bears struck back with full force and dominated today's trade. Without any significant pullback, the Index kept compounding its losses to end the session at 21,571.95 with a loss of 460.35 points. Only the IT sector managed to end the day in green; and on the flip, BankNifty was the major laggard followed by Metal.

A correction was seen in the Broader markets as well but Mid and Smallcaps managed to outperform the Frontline Index.

By confirming the negative divergence, the Index has made a bearish candle on the daily chart with a probability of forming an advanced harmonic Bullish Cypher pattern at 21,220.

The major laggard of the day i.e. BankNifty has given a breakdown from a Head & Shoulder formation and as per the pattern, the downside target comes at 45,500. Considering today's steep fall, a relief rally can be expected in the markets but sustainability at higher levels will be a key factor to watch out for.

A nosedive correction in banking stocks, along with concerns over delays in US FED rate cuts, impacted market sentiments. The addition of discouraging Chinese growth data and rising US bond yields, also resulted in widespread profit-booking. Given the elevated valuations, coupled with the fact that optimism regarding earnings and GDP growth for FY24 is already reflected in the market, triggered the correction.

Indian rupee ended lower at 83.13 per dollar on Wednesday versus Thursday's close of 83.07.

Market registered a biggest single-day fall in last 1.5 years with Nifty below 21,600.

At close, the Sensex was down 1,628.01 points or 2.23 percent at 71,500.76, and the Nifty was down 460.30 points or 2.09 percent at 21,572. About 998 shares advanced, 2238 shares declined, and 50 shares unchanged.

Biggest losers on the Nifty were HDFC Bank, Tata Steel, Kotak Mahindra Bank, Axis Bank and Hindalco Industries, while gainers were HCL Technologies, SBI Life Insurance, Infosys, LTIMindtree and TCS.

Among sectors, except Information Technology, all other indices ended in the red with bank index down 4 percent, and auto, metal, oil & gas realty down 1-2 percent.

BSE Midcap and Smallcap indices shed 1 percent each.

Indian Rupee appreciated on weak crude oil prices and FII inflows. However, weak domestic markets and a strong Dollar capped sharp gains. Overnight decline in commodity prices also supported Rupee at lower levels. US Dollar gained on hawkish Fedspeak and safe haven demand amid escalating geopolitical tensions in the Middle East and Red Sea region. Sharp upside in the greenback was capped on disappointing Empire State Manufacturing Index which fell sharply to -43.7 in January 2024 vs forecast of -4.9.

We expect Rupee to trade with a slight negative bias on weak global markets amid escalating geopolitical tensions in the Middle East and hawkish tone of the US Federal Reserve which has trimmed rate cut expectations. However, decline in crude oil prices may support Rupee at lower levels. Traders may remain cautious ahead of US retail sales and industrial production data. USDINR spot price is expected to trade in a range of Rs 82.80 to Rs 83.50.

-Underweight call, target Rs 4,600 per share
-Q3 results were a miss versus estimate, but management commentary was constructive on demand
-Stock outperformed last year, led by re-rating
-Believe company would need material acceleration for growth in FY25
-Absence of material acceleration it could underperform
-Reported revenue growth of 0.9 percent QoQ in constant currency terms versus 2.1 percent estimate
-EBIT margin was 17.2 percent (+11 bps QoQ, -151 bps YoY), in-line with estimate

-Overweight call, target Rs 1,750 per share
-Underwriting loss was lower than estimateimate
-PAT missed estimate by 2 percent and consensus by 10-15 percent as company booked much lower capital gains
-Company booked much lower cap gains even though its unrealized gains increased meaningfully
-Management maintained its combined ratio guidance of 102 percent by end of FY25

The market is experiencing a correction. There is a correction seen in the international market as well. China's economic data has been disappointing, with its GDP falling below expectations. Additionally, reports indicate a decline in real estate prices in several Chinese cities, leading to concerns about China's overall economic performance.

The global market is under pressure, with statements from the Reserve Governor in the United States hinting at potential interest rate changes in February, contributing to a negative sentiment.

HDFC Bank's financial results have also had a significant impact, as the bank's stock has been underperforming for the past 2-3 years. The recent merger of HDFC has further influenced the market, causing a decline.

Timing the market is challenging, but in times of a market downturn, it may be prudent to gradually accumulate positions. Although some stocks may experience short-term declines, if the fundamentals of a sector and specific stocks remain strong, it could be an opportunity to strengthen your portfolio. Investors should consider buying fundamentally robust stocks and sectors, focusing on the long-term perspective rather than short-term market fluctuations.

Stock Market LIVE Updates | Morgan Stanley View On Cement 

-Upgrade Ambuja Cements to overweight, target raised to Rs 600 per share from Rs 390 per share 
-Upgrade ACC to equal-weight, target raised to Rs 2,400 per share from Rs 1,650 per share 
-Ultratrech – Overweight call, target raised to Rs 12,000 per share from Rs 9,300 per share 
-Dalmia – Overweight call, target raised to Rs 2,750 per share from Rs 2,360 per share 
-Grasim – Overweight call, target raised to Rs 2,430 per share from Rs 1,977 per share 
-Shree Cement – Equal-weight call, target raised to Rs 28,500 per share from Rs 25,000 per share
-Believe industry is in middle of a multiyear demand upcycle
-Capacity addition remains strong but utilisation levels are expected to remain high 
-Strong capacity addition consequently should drive margin expansion over next couple of years

Sensex Today | Market at 3 PM

The Sensex was down 1,616.28 points or 2.21 percent at 71,512.49, and the Nifty was down 462.00 points or 2.10 percent at 21,570.30. About 1055 shares advanced, 2173 shares declined, and 53 shares unchanged. 

Asian Paints Q3 Results:

Net Profit up 34.5% at Rs 1,475 crore versus Rs 1,097.1 crore and revenue up 5.4% at Rs 9,104 crore versus Rs 8,636.7 crore, YoY.

Bharat Electronics bags order

Bharat Electronics Limited (BEL) has received an order from Mazagon Dock Shipbuilders Ltd for a value of Rs.695 Crore for supply of spares related to the missile systems.

Sensex Today | BSE Realty index down 1.4 percent dragged by Macrotech Developers, Prestige Estates Projects, Sobha:

Asian Paints is likely to post healthy Q3FY24 results, growing revenue in high-single digits and net profit in double digits year on year, led by a demand rebound amid a delayed festive season falling during the quarter.

Analysts predict Asian Paints’ Q3 net profit to grow as much as 30 percent on-year. The paint major will share its October-December quarter earnings report on January 17.

Asian Paints will likely deliver revenue growth of around eight percent, led by the low base as well as the upsurge in the real estate sector. The company is likely to clock Rs 9,200-9,330 crore in revenue in the October-December quarter, up from Rs 8,636.7 crore in the same quarter a year ago, according to three brokerage estimates. Read More

-Reduce call, target cut to Rs 3,880 per share
-Q3FY24 misses both at revenue & margin levels
-Q4 ask rate a steep one for achieving FY24 revenue growth guidance of 17.5-18.5 percent
-Company expects budgets for ER&D spends to be flattish to marginally better in CY24 versus CY23
-Expectations on budgets for ER&D spends based on its client conversations so far
-No change to USD 1.5 billion revenue and 18 percent+ EBIT margin targets for FY26
-Stock is currently trading at 38x FY25 & 33x FY26 EPS

Sensex Today | Nifty FMCG index down 0.4 percent dragged by Emami, Varun Beverages, Godrej Consumer Products:

-Equal-weight call, target Rs 165 per share
-Q3 margins remain under pressure, down 3 bps
-RoA of 1.4 percent was helped by benign credit costs
-Treasury gains were strong, partly one-off
-Treasury gains were utilised to offset higher-than-expected wage hike run-rate
-Stock is not expensive at 1.0x F25 core book but lacks a strong catalyst

Foreign portfolio investors Smallcap World Fund Inc sold 7,05,389 equity shares, which is equivalent to 1.5% of paid-up equity capital, via open market transactions at an average price of Rs 1,475.32 per share, which is valued at Rs 104.07 crore.

However, Morgan Stanley Asia Singapore Pte bought 2.75 lakh shares (0.58% stake) at an average price of Rs 1,475 per share. Smallcap World Fund had held 1.97% stake in the paint company as of December 2023.

Investor Fortune Smart Lifestyle 2.5 lakh equity shares in the company (equivalent to 2.3% stake) at an average price of Rs 1,086.41 per share.

However, Natixis International Funds Lux I picked 57,886 equity shares in Suyog, NHIT Global Emerging Markets Equity Trust purchased 1,12,261 shares, and Destinations International Eq Fund A Series of Brinker Capital Destinations Trust bought 1,25,828 shares at an average price of Rs 1,086.40 per share. As of December 2023, Fortune Smart Lifestyle held 15.07% stake in Suyog.

Sensex Today | BSE Metal index down 2.2 percent dragged by SAIL, Jindal Steel, Tata Steel:

-Add call, target Rs 2,000 per share
-Company posted a healthy Q3 PAT of Rs 1,630 crore amid steady QoQ margins
-The treasury gains were utilised for a contingent provision of Rs 1,200 crore
-Trend in deposit growth remained weak, +1.9 percent QoQ as management avoids wholesale deposits
-Management avoided wholesale deposits amid their volatile nature as well as pricing issues
-Company is confident of credit growth amid improved penetration
-Deposits are also manageable at a price

Harvinder Singh has joined as Head of Inspection and Audit of MCX India, with effect from January 16. He is also a key managerial personnel at Vice President level.

BPRL International Singapore Pte Ltd (BISPL), an indirect step-down subsidiary of BPCL announced its proposal for a tender offer for around $120 million 4.375% Senior Notes that were issued with a maturity date of January 18, 2027. This tender offer is in respect of the Notes that were issued by BISPL in January 2017 and were unconditionally and irrevocably guaranteed by Bharat Petroleum Corporation.

Sun Pharmaceutical Industries and Bayer have signed an agreement to market and distribute a second brand of Finerenone in India. Finerenone, a patented medicine is indicated to reduce the risk of sustained eGFR decline, end-stage kidney disease, cardiovascular death, non-fatal myocardial infarction, and hospitalization for heart failure in adult patients with chronic kidney disease associated with type 2 diabetes mellitus.

Under the terms of the agreement, Bayer has granted the non-exclusive rights to Sun Pharma to market and distribute a second brand of Finerenone under the brand name Lyvelsa®. Finerenone was first launched by Bayer under the brand name Kerendia TM in 2022.

MSTC Limited shares jumped higher by more than 7 percent on 17 January, intraday, making a life high for itself. Recently Monarch Networth Capital gave a buy call on MSTC Limited citing its near monopolistic market status offering a trusted and transparent e-commerce platform for auctioning metal scraps which places it in a virtually unassailable position in an attractive emerging area of vehicle scrapping.

According to Monarch Networth Capital, MSTC Limited stands to gain from its joint venture with Mahindra Group which is into vehicle scrapping. Vehicle scrapping is expected to be a sunrise sector with immense potential. It will be interesting to see if any announcements are made in the upcoming budget related to Vehicle scrapping.

National Fertilisers made a fresh 52-week high on 17 January trading session of Rs 109.50 per share. Market is expecting a higher budgetary allocation for the fertiliser sector and hence the counter is witnessing buying trends.

Cochin Shipyard is buzzing on bourses as Prime Minister Narendra Modi will be inaugurating the new 310-metre dry dock and International Ship Repair Facility (ISRF) at Cochin Shipyard on 17 January. The shares of Cochin Shipyard are up by more than 10 percent with a spurt in volume of more than 1.64 times on BSE.

Godrej Properties has acquired an additional approximately one acre of land parcel in Yeshwanthpur, Bengaluru. The land has a developable potential of approximately 1.40 lakh square feet saleable area, through an outright purchase for the development of premium residential apartments.

Stock Market LIVE Updates | Citi View On Banks

-Business updates reflect further LDR expansion & LCR contraction
-Incremental levers point to further NIM downside
-Lower FY25/26 NIM estimate for Kotak Mahindra Bank, HDFC, Axis Bank, Federal Bank & ICICI Bank
-Preference is for private banks, followed by leading NBFCs over PSU banks
-Downgrade SBI to sell, target cut to Rs 600 from Rs 700 per share
-Downgrade Federal Bank to neutral, target cut to Rs 135 from Rs 170 per share
-Upgrade M&M Financial to buy, target cut to Rs 310 from Rs 350 per share
-Upgrade Cholamandalam Investment and Finance Company to buy, target raised to Rs 1,510 from Rs 1,200 per share
-Initiating 90-day positive catalyst on Cholamandalam Investment and Finance Company
-Initiating 90-day negative catalyst on SBI

The Reserve Bank of India (RBI) has approved an appointment of Praveen Achuthan Kutty as Managing Director & CEO of DCB Bank with effect from April 29, 2024. He will be MD and CEO of the bank for three years.

UltraTech Cement has incorporated a wholly-owned subsidiary namely Letein Valley Cement. The new subsidiary will carry on the business of mining of limestone and other raw materials; manufacture and sale of cement.

Karnataka Bank and new-age NBFCs Clix Capital have entered into a strategic digital co-lending partnership through Yubi Co.lend platform. This partnership is focused on providing loans to the Indian MSME sector. The agreement is in line with the Reserve Bank of India's guidelines on co-lending by banks and NBFCs to priority sectors.

Sensex Today | Market at 1 PM

The Sensex was down 1,390.79 points or 1.90 percent at 71,737.98, and the Nifty was down 389.80 points or 1.77 percent at 21,642.50. About 1066 shares advanced, 2121 shares declined, and 62 shares unchanged. 

Tyres Stocks In Focus:

The dollar index hovered at a one-month high against a basket of currencies on Wednesday as remarks by Federal Reserve Governor Christopher Waller dampened expectations for a March rate cut.

Meanwhile, China's offshore yuan failed to hold on to a brief pickup from a two-month low in the wake of mixed domestic economic data, as expectations grow for Beijing to roll out more stimulus measures soon.

Shares of Bajaj Auto saw a 3 percent decline, trading at Rs 7,081 during the morning session on January 17. This downturn followed a downgrade by the domestic brokerage firm CLSA, which shifted the stock rating from 'underperform' to 'sell,' citing concerns about valuation.

Analysts at the firm have said that the stock is overvalued given the recent rally the counter witnessed. Further, the brokerage firm has turned cautious as valuations are pricing in double-digit volume growth over the next few years, which seems unlikely. Read More

Sensex Today | Nifty Auto index down 1 percent dragged by Tube Investments, Ashok Leyland, Bajaj Auto:

Net profit up 36% at Rs 59.4 crore versus Rs 43.7 crore and revenue up 18.3% at Rs 1,110 crore versus Rs 938 crore, YoY

Sensex Today | BSE Midcap index down 0.7 percent dragged by SAIL, AU Small Finance Bank, Federal Bank:

Q3FY24 was a mixed bag for Federal Bank, but its strengthened underlying in the past few years may help deliver RoA/RoE of 1.2%/12-13% (post capital raising), despite headwinds (on NIMs).

Factoring in Fedfina stake sale, broking firm raise FY24E EPS by 10%, while FY25E remains broadly unchanged.

It raised Target Price of Rs 189 (valuing FB at 1.3x P/BV and Rs 11 for Fedfina).

As we approach Budget 2024, we anticipate a continued focus on advancing India's digital public infrastructure, a key pillar for realizing the $5 trillion economy dream. I look forward to enhanced government initiatives fostering financial inclusion benefiting Bharat, not just India. On the tech front, I hope to see further progress in establishing AI Centres of Excellence.

I also expect more policies to enable public-private partnership to boost end-use-cases of generative and predictive AI and increase its adoption in India.

The fintech industry, as usual, will be the flag bearer of innovation. Government support, both in terms of policies and funding, will be instrumental in propelling the fintech sector to new heights of success.

-Buy call, target cut to Rs 1,950 from Rs 2,080 per share
-Moderate NIM expansion estimate to 15 bps over FY2024-26 versus 30 bps earlier
-Few NIM levers remain
-Near-term earnings estimate remain under pressure
-Cut EPS by 0.8/7.8/5.8 percent for FY24/25/26

Asian equities fell sharply on Wednesday, led by Chinese stocks after a slew of data pointed to a patchy recovery in the world's second-biggest economy, while the dollar was near a one-month high as traders dialled back bets of early interest rate cuts.

MSCI's broadest index of Asia-Pacific shares outside Japan slid 1.8%, touching a fresh one-month low and on course for its steepest one-day percentage fall in over five months.

European stocks were set for a sharply lower open, with the Eurostoxx 50 futures down 0.67%, German DAX futures down 0.55% and FTSE futures 0.71% lower.

Infibeam Avenues announced the appointment of Mr. Rajesh Kumar SA as the Chief Executive Officer (CEO) of Phronetic.AI.

In his capacity as CEO, Mr. Rajesh Kumar SA will assume a crucial role architecting and spearheading the blueprint for the expansion and elevation of Infibeam's artificial intelligence business – Phronetic.AI, under the leadership of Mr Vishal Mehta, Chairman and Managing Director, Infibeam Avenues Ltd.

Sensex Today | Market at 12 PM

The Sensex was down 1,246.30 points or 1.70 percent at 71,882.47, and the Nifty was down 352.30 points or 1.60 percent at 21,680. About 1105 shares advanced, 2066 shares declined, and 56 shares unchanged. 

CuraTeQ Biologics Pvt. Ltd., a wholly owned subsidiary of Aurobindo Pharma Ltd, today received from Subject Experts Committee (SEC) operating under the aegis of CDSCO (Central Drugs Standard Control Organization) a recommendation for grant of marketing authorization of biosimilar trastuzumab.

Trastuzumab biosimilar, supplied in single dose glass vials containing 150 mg and 420 mg lyophilized powder for concentrate for solution for infusion, is a humanized monoclonal antibody for treating metastatic breast cancer and early breast cancer that is human epidermal growth factor receptor 2 positive.

CuraTeQ was asked to submit Phase IV clinical trial protocol to CDSCO within three months of receiving the marketing authorization.

-Buy call, target Rs 2,000 per share
-Core PBT up 4 percent QoQ, was in-line with estimate
-Net profit was ahead with lower tax rate
-Higher treasury compensated for one-time provisions
-Key miss was in QoQ flat NIMs even as impact of ICRR & surplus liquidity receded
-Uptick in retail deposit mobilisation & lending will be key to lift NIMs
-Asset quality was stable, CASA growth is better than peers & cross-sell is in focus

PSU Banks are outperforming in a weak market as they have valuation comfort as well as a tailwind in bullish momentum in the PSU space. Most of the PSU banks are likely to post a strong set of earnings.

I believe their outperformance is likely to continue where Bank of India is my top pick in small PSU banks, while SBI from large-cap names should also catch up the momentum.

If we talk about the overall market, then 21650–21500 is a key demand zone for the Nifty.

Until buy-on-dip texture is continued, while below 21500, we can expect short-term weakness towards the 21000–20800 zone.

Banknifty is dragged by private banks, especially HDFC Bank, where 46500–46250 is a key demand zone where we can expect a bounceback. While below 47250, there will be a risk of further weakness. On the upside, 47500–48,000 will be resistance areas.

Gold prices extended losses on Wednesday as the U.S. dollar strengthened after hawkish comments from a Federal Reserve official dampened expectations for a March interest rate cut, while traders awaited comments from more Fed speakers this week.

Spot gold was down 0.2% at $2,023.49 per ounce, as of 0415 GMT, after stooping 1.3% in the previous session - its biggest single-day decline since Dec. 4, 2023.

U.S. gold futures also fell 0.2% to $2,026.90.

All Nifty Bank index extends losses; down over 3 percent

Konstelec Engineers today announced that its Initial Public Offer will open on Friday, January 19, 2024.

The Anchor portion will be open on Thursday, January 18, 2024, and the issue will conclude on Tuesday, January 23, 2024.

The company intends to raise approximately Rs 28.70 crores (at upper hand) from the offering and aims to be listed with NSE Emerge.

The price band for the issue has been fixed at Rs 66-70 per share. The lot size will be 2,000 shares.

The share price of Larsen & Toubro (L&T) scaled a 52-week high of Rs 3,614, gaining nearly 1 percent intraday on January 17, after the company's buildings and factories (B&F) business won an orders in India and Oman. At 10:31am, Larsen & Toubro was quoting Rs 3,588.40, up Rs 14.60, or 0.41 percent, on the BSE.

The benchmark indices have had a rough start to January 17, with the Nifty opening 300 points from the previous session and the Bank Nifty index 1,500 points lower after index heavyweight HDFC Bank's December quarter results disappointed investors. READ MORE

Shares of ICICI Lombard General Insurance rallied more than 5 percent on January 17 morning, as its third quarter combined ratio came in at 103.6 percent against estimates of 104 percent.

Shares of ICICI Lombard General Insurance rallied more than 5 percent on January 17 morning, as its third quarter combined ratio came in at 103.6 percent against estimates of 104 percent.

Combined ratio was 104.4 percent in the year-ago period and 103.9 percent in the September quarter. A measure of profitability, the combined ratio is the sum of incurred losses and operating expenses measured as a percentage of earned premiums. Lower combined ratio is good news for the company as well as investors. Read More

Sensex Today | Nifty Bank index down 2 percent dragged by HDFC Bank, AU Small Finance Bank, Kotak Mahindra Bank: