Business

Market Closes Lower Following IT Selloff; Mid and Small-Cap Stocks Lag Behind

Published

11 months ago

March 13, 2025

On Wednesday, benchmark indices experienced a slight dip in a highly volatile trading session, as gains in the banking and automobile sectors were countered by declines in the IT sector. By the end of the day, the Sensex decreased by 0.1%, or 72.56 points, closing at 74,029.76, while the Nifty fell by 0.12%, or 27.4 points, settling at 22,470.5.

During the trading session, the Nifty reached a peak of 22,577.4 and a low of 22,329.55. Meanwhile, the Sensex fluctuated between 74,392.15 and 73,598.16.

The mid and small-cap sectors lagged behind the benchmarks, with the BSE Midcap index falling 0.57% and the Smallcap index declining by 0.48%. The total market capitalization of BSE-listed companies also dipped below ₹393 lakh crore, down from over ₹394 lakh crore in the previous session.

Among the Nifty50 components, the top gainers included IndusInd Bank (up 4.38%), Tata Motors (3.12%), Kotak Mahindra Bank (2.45%), Bajaj Finance (1.73%), and ITC (1.53%). Conversely, the major losers were Infosys (down 4.26%), Wipro (3.31%), Tech Mahindra (2.77%), Nestle India (2.48%), and Tata Consultancy Services (1.93%).

The Bank Nifty index closed at 47,853.95, having reached an intraday high of 48,222.15 and a low of 47,844.95. Following a 27% decline in the previous session, IndusInd Bank rebounded by 6%, as investors evaluated the ramifications of discrepancies in the bank’s derivatives portfolio.

The Nifty IT index faced a significant loss of 2.91%, with all constituents facing declines. IT stocks have been under pressure amid mounting concerns regarding a potential recession in the US market. Infosys and Wipro experienced a sell-off, fueled by fears that a downturn in US client spending could adversely affect revenue growth for Indian IT companies.

The Nifty Realty, Media, and PSU Bank sectors also posted losses of 1.65%, 1.53%, and 1.08%, respectively. Shares of Tata Motors surged over 3%, emerging as one of the top gainers on the Sensex and bolstering the BSE Auto index. Ola Electric shares rose by 2% following the successful implementation of a company-wide cost-reduction initiative.

In contrast, PB Fintech, the parent company of Policybazaar, saw its stock drop over 5% after announcing a ₹696 crore investment in its subsidiary, PB Healthcare Services.

On the international front, Asian markets mostly faced declines as investors remained cautious concerning US President Trump’s trade policies and the looming risk of a US recession. Global markets have shown volatility, as the US President imposes tariff barriers on trade partners.

Business

India May Buy More Oil From Venezuela Instead of Russia

Published

2 weeks ago

January 31, 2026

Namma Kudla

Business : The United States has told India that it can soon resume buying oil from Venezuela.The suggestion is part of a U.S. effort to reduce India’s dependence on Russian crude oil.

This pitch comes as India plans to cut Russian oil imports by several hundred thousand barrels per day in the coming months. Under the Trump administration, the United States had imposed a 25 % tariff on countries that bought Venezuelan oil, including India.

Now, the U.S. wants India to resume Venezuelan oil purchases to help diversify India’s energy sources. The United States is also trying to reshape energy ties with India as part of broader diplomatic engagement.

Venezuela’s interim president Delcy Rodríguez said she agreed with India on energy cooperation in a recent phone call with Prime Minister Narendra Modi. PM Modi said both sides agreed to deepen their partnership and expand cooperation in all areas.

Venezuela has the world’s largest proven oil reserves. Recently, Venezuela opened its oil sector to private investment to attract foreign capital and boost production.

India was one of the major buyers of Russian crude after the Ukraine war began in 2022. But India is now seeking alternative suppliers as part of its energy strategy.

Business

Chicken Prices Remain Stable in Local Markets

Published

2 weeks ago

January 27, 2026

Namma Kudla

Chicken prices remained stable in local markets today.Traders said there was no major change in rates.Consumers continued to make regular purchases.

Boneless chicken is priced at ₹210 per kilogram.Regular chicken is available at ₹160 per kilogram.Chicken liver is being sold at ₹120 per kilogram.

Country chicken is priced higher due to demand.It is selling at ₹360 per kilogram.Live chicken is available at ₹130 per kilogram.

Skinless chicken is priced at ₹200 per kilogram.Vendors said supply is sufficient in the market.They expect prices to remain steady in the coming days.

Customers expressed satisfaction with the current rates.Market officials said there is no shortage of chicken.

Business

Gold Prices Edge Up in India on January 19, 2026

Published

3 weeks ago

January 19, 2026

Namma Kudla

Gold prices in India recorded a slight increase on January 19, 2026, supported by global market trends, local demand, and movements in the rupee-dollar exchange rate.

As per market estimates, 24-carat gold, which is considered pure gold, is priced at ₹14,569 per gram, or ₹1,45,690 per 10 grams. 22-carat gold, commonly used for jewellery, is trading at around ₹13,355 per gram, or ₹1,33,550 per 10 grams.

The prices have risen marginally compared to the previous day. The increase is mainly linked to a weaker Indian rupee against the US dollar, which makes imported gold more expensive.

Gold rates vary slightly across cities such as Mangalore and other parts of the country. These differences depend on local taxes, transportation costs, jeweller margins, and regional demand.

Demand for gold remains strong due to the wedding season and festive buying, which continues to support higher prices. Investors also turn to gold during uncertain economic conditions, as it is seen as a safe-haven asset.

Experts say that global geopolitical developments, inflation concerns, and central bank policies are also influencing international gold prices, which in turn affect domestic rates.

Market participants expect gold prices to remain firm in the near term if the rupee stays weak and demand continues at current levels.