Sunday, March 08
Equity indices extended their decline for a third consecutive session on Wednesday, with the Sensex and Nifty ending lower due to sustained selling in heavyweight stocks, rising geopolitical unease, and weak global cues.
Stock market today: The BSE Sensex fell 102.20 points, or 0.12 per cent, to end at 84,961.14, after slipping as much as 445.85 points, or 0.52 per cent, during the day to 84,617.49. The NSE Nifty declined 37.95 points, or 0.14 per cent, to close at 26,140.75.
State-run companies are emerging as top long-term wealth creators again, with 26 PSUs featuring among the top 100 between April 2020 and March 2025. This marks a significant turnaround from previous years, driven by factors like government divestment policy changes and a focus on sectors like defence and utilities.
India and the European Union are set to hold ministerial-level discussions in Brussels on January 8-9 to finalize their proposed free trade agreement. Commerce and Industry Minister Piyush Goyal will meet with EU Commissioner Maros Sefcovic to resolve pending issues and expedite the conclusion of a balanced and ambitious pact.
Wall Street stocks advanced Tuesday, with technology and healthcare shares leading the gains and pushing major indices near record highs. Investors are closely monitoring upcoming US economic data, including job reports, which could influence future interest rate decisions by the Federal Reserve.
Adani Enterprises Limited's Rs 1,000 crore non-convertible debenture issue was fully subscribed within 45 minutes of opening on Tuesday. The NCDs, offering an effective yield of up to 8.90% per annum, saw strong demand, with the base issue and green shoe option being fully taken up quickly. Proceeds will primarily be used for debt repayment.
US President Trump stated Prime Minister Modi is "not that happy" due to US tariffs on Indian purchases of Russian oil. He linked trade pressure to India's energy ties with Moscow, noting India has significantly reduced its Russian oil imports. Trump also mentioned India's concerns over delayed US military hardware deliveries.
Venezuela's main oil ports have halted crude shipments to Asia for five days due to intensified US sanctions, risking deeper production cuts for PDVSA. Meanwhile, Chevron resumed oil exports to the US, emerging as the sole smooth operator, while sanctioned vessels previously departed for China in "dark mode."
Hatsun Agro Product disclosed a corporate governance slip-up after draft financial figures for the December 2025 quarter were accidentally posted on a senior executive's personal WhatsApp status. The preliminary, unaudited data, intended for internal use, was briefly visible to a limited number of contacts before being removed. The company is investigating the incident, emphasizing the figures were not final.
