<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> plummeted over 1.2% each amid negative sentiments in markets around the world.</li><li>Banking, metal and IT stocks emerged as the top drags.</li><li><keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of how the markets may perform, was down 0.91% or 161 points early in the morning today.</li></ul>India’s benchmark indices Sensex and <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword>50 plummeted over 1.2% each amid heightened fears of rate hikes by the US Fed ahead of the crucial jobs data set to be released today. SGX Nifty, an early indicator of how the markets may perform, was down 0.91% or 161 points early in the morning today. Banking, metal and IT stocks emerged as the top drags in morning trade today. While the 30-stock Sensex was down 1.27% or 757 points to 59,049, the 50-stock Nifty50 was down 1.2% or 210 points to 17,385. HDFC twins and Axis Bank were amongst the top five losers on the benchmark Nifty50 index. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.79% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.93% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.41% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.42% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.36% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.21% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi's Laboratories </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.10% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.97% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.94% </td></tr></tbody><tbody></tbody></table>Source: NSE, March 10, 2023 Earlier on Thursday, Sensex and Nifty50 closed 0.9% lower, dragged down by heavy selling across sectors. While Sensex closed 542 points lower at 59,806, Nifty50 closed 165 points lower at 17,590. The seven-day rally in the Adani Enterprises stock also ended on Thursday amid profit booking by traders. The stock had surged 71% in the previous seven trading sessions until yesterday. <cmsannotation type="cmsannotation" annotationid="Markets slump across the world" comment="subhead" text="Markets slump across the world">Markets slump across the world</cmsannotation> Markets slumped across the world as rate hike worries increased. Dow Jones Industrial Average fell 1.66% while S&amp;P 500 was down 1.85%. The tech-heavy Nasdaq was down 2.05%, on the other hand. All the markets in Asia were in the red too, on Friday morning, with Hang Seng falling the most at 1.94%, with Taiwan Weighted a close second at 1.37%. KOSPI was down 1.25%, while Nikkei 225 was down 1.24%. Shanghai Composite was down 0.7%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword>: Reliance Consumer Products, the FMCG arm of Reliance Retail Ventures <a href="https://www.businessinsider.in/retail/news/reliance-brings-back-the-iconic-campa-beverage-brand/articleshow/98520789.cms">announced the relaunch</a> of the iconic beverage brand Campa that it had acquired in August 2022. Adding to it, Jio Platforms plans to buy communications equipment maker Mimosa Networks for $60 million as it looks to boost its 5G telecom and broadband services. Bank of Baroda: The lender has approved divestment of up to 49% stake in its arm BOB Financial Solutions. <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>: The company’s subsidiary Tata Technologies has filed draft red herring prospectus (DRHP) with market regulator SEBI for launch of an IPO. The company plans to sell up to 9.5 crore shares, representing about 23.6% of its paid up capital through the IPO. <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword>: The London headquartered Menzies Aviation has tied up with the IT major to transform its air cargo management services. The aviation company will use the product developed by Wipro to improve business efficiencies, employee experience and customer service through increased automation. <cmsannotation type="cmsannotation" annotationid="Stocks under F&amp;O ban" comment="subhead" text="Stocks under F&amp;O ban">Stocks under F&amp;O ban</cmsannotation> Balrampur Chini Mills and Gujarat Narmada Valley Fertilizers and Chemicals are two stocks under F&amp;O ban on Friday. SEE ALSO: <a href="https://www.businessinsider.in/entertainment/news/without-hbo-and-ipl-15-million-subscribers-could-flee-disney-hotstar-in-2023/articleshow/98517377.cms">Without HBO and IPL, 15 million subscribers could flee Disney+ Hotstar in 2023</a> <a href="https://www.businessinsider.in/stock-market/news/mutual-funds-raise-bets-on-mid-small-cap-stocks-amid-volatile-markets/articleshow/98516460.cms">Mutual funds raise bets on mid &amp; small-cap stocks amid volatile markets</a> <a href="https://www.businessinsider.in/business/startups/news/this-startup-founder-who-ran-away-from-home-at-15-builds-a-100-crore-business/articleshow/98513355.cms">This startup founder who ran away from home at 15, builds a ₹100 crore business</a>

Sensex, Nifty plummet as banking, metal and IT stocks drag markets down

<ul><li>The launch of this new service is in alignment with SEBI circular dated April 5, 2022.</li><li>Patym Money claims to be the first discount broker to implement this feature.</li><li>The company claims to have a total asset under management (AUM) of ₹11,000 crore.</li></ul>Wealth management platform <keyword id="6135170" type="General" weightage="20" keywordseo="paytm-money" source="Orion">Paytm Money</keyword> — which is run by digital payments giant One 97 Communications — on Friday announced a new feature that would allow high networth individuals (HNIs) to place bets of upto ₹5 lakh for upcoming initial public offering (<keyword id="6354763" type="General" weightage="20" keywordseo="ipo" source="Orion">IPO</keyword>) that too through unified payments interface (UPI). Notably, the launch of this new service is in alignment with Securities and Exchange Board of India (SEBI) circular dated April 5, 2022, which mandated investments upto ₹5 lakh through UPI or all IPOs post first of May. Previously, the limit was set up at ₹2 lakh per investor. Patym Money would be the first discount broker to implement this feature and expand the investment limit, the company has claimed. The development comes only a week before LIC goes for India’s biggest IPO worth<a href="https://www.businessinsider.in/business/news/lic-ipo-price-band-important-dates-gmp-and-all-you-need-to-know/articleshow/91119691.cms"> ₹21,000 crore</a>. The shares of LIC will open for subscription on May 4 and close for bidding on May 9. The shares will be allotted on May 12. “We are the super app of wealth management, giving users the power of investing. The addition of the HNI investor category will allow retail investors to place higher IPO bids through NPCI UPI in a convenient and seamless manner. This new service has been launched in view of the growing appetite for high-value IPOs among Indian investors and comes at an ideal time, right ahead of the much-awaited <keyword id="7922409" type="General" weightage="20" keywordseo="lic-ipo" source="Orion">LIC IPO</keyword>,” Varun Sridhar, chief executive officer of <keyword id="6357120" type="General" weightage="20" keywordseo="Paytm" source="Orion">Paytm</keyword> Money, said. Paytm Money currently offers several wealth management products lieke stocks, future and options (F&amp;O), direct mutual funds, wealth community, portfolio management services and much more. The company claims to have 8.9 lakh organic trading accounts as well as 9 million registered direct mutual fund investors. The company claims to have a total asset under management (AUM) of ₹11,000 crore. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/tech/enterprise/news/wipro-to-double-fresher-intake-this-year-promotions-to-be-faster-as-employees-are-still-jumping-ship-in-hordes/articleshow/91181367.cms">Wipro to double fresher intake this year, promotions to be faster as employees are still jumping ship in hordes</a> <a href="https://www.businessinsider.in/stock-market/news/axis-bank-slipped-over-4-today-but-analysts-expect-stock-to-surge-up-to-40-from-here/articleshow/91176793.cms" data-type="tilCustomLink">Shares of Axis Bank slipped over 4% today, but analysts expect stock to surge up to 40% from here</a> <a href="https://www.businessinsider.in/india/news/why-are-there-power-cuts-and-heatwave-in-india/articleshow/91177785.cms" data-type="tilCustomLink">EXPLAINED: Why is there a looming power shortage in India</a>

Ahead of LIC IPO, Paytm Money opens bids of up to ₹5 lakh through UPI

New Delhi, Feb 27 () Following are the top business stories at 1850 hours: DCM47 BIZ-VODA IDEA-MINIMUM-PACKAGR-hit Voda Idea wants govt to put in place floor data, call tariffsNew Delhi: Vodafone Idea has demanded fixing minimum tariffs for mobile data at Rs 35 per GB, around 7-8 times of current prices, and for calls at 6 paise per minute along with monthly charges from April 1 to enable it pay statutory dues and make its business sustainable. DCM25 BIZ-RBI-CRR-CREDIT-EXEMONCRR-exempted loans: RBI says deduction only on incremental lendingMumbai: Following some banks seeking clarity on the computation of CRR to be exempted for incremental lending to three specified retail loans, the Reserve Bank has said that the deduction is available only on the equivalent incremental credit to these segments. DEL85 BIZ-LD STOCKSMarkets slump for fifth day on coronavirus woes, F&amp;O expiryMumbai: Equity indices reeled for the fifth straight session on Thursday, pressured by a sell-off in bank, IT and energy counters, as the global markets grappled with fears of the coronavirus outbreak turning into a pandemic. DCM46 BIZ-SEBI-GITANJALISebi imposes Rs 5 cr fine on Mehul Choksi, Gitanjali Gems, another individualNew Delhi: Regulator Sebi on Thursday slapped a total fine of Rs 5 crore on fugitive businessman Mehul Choksi, Gitanjali Gems and another individual for violating various regulations, including listing norms.DCM17 BIZ-VODAIDEA-GOVTNot in sound financial state; can meet liabilities only with govt support: Voda Idea New Delhi: Troubled Vodafone Idea has written to the telecom department expressing its inability to pay full AGR dues unless the government takes urgent measures, including allowing staggered payment, reduction in levies and implementation of floor prices in the crisis-ridden sector. DCM28 BIZ-CORONAVIRUS-CHICKENSALES'Chicken sales down 50%, prices by 70% in India on coronavirus rumour'New Delhi: Chicken sales in India have come down over 50 per cent and prices by 70 per cent in the last one month as speculation swirled on social media that chicken causes coronavirus disease, denting both demand and prices, a top Godrej Agrovet official said on Thursday. DEL90 BIZ-RUPEE-CLOSERupee settles 6 paise higher at 71.59 against US dollarMumbai: The Indian rupee finished 6 paise higher at 71.59 (provisional) against the US dollar on Thursday amid easing crude oil prices and weakening of the greenback overseas. DCM18 BIZ-ECONOMY-ANIL AGARWALLight at end of tunnel, Indian economy will bounce back, says Anil AgarwalNew Delhi: Indian economy will soon bounce back from its worst showing in 11 years as a steep cut in taxes will help attract investments and the massive infrastructure spending revives economic activity, mining baron Anil Agarwal said.DCM5 BIZ-NCLAT-FLIPKARTNCLAT sets asides insolvency proceedings against FlipkartNew Delhi: The National Company Law Appellate Tribunal (NCLAT) has set aside the order of the NCLT to initiate insolvency proceedings against e-commerce major Flipkart. DCM16 BIZ-NEW ZEALAND-INDIANew Zealand for bilateral trade pact with India if New Delhi does not join RCEPNew Delhi: New Zealand on Thursday said it will look forward to a bilateral trade agreement with India in case New Delhi does not join the China-backed mega trade deal RCEP. DCM48 BIZ-LD HPCL-ONGC-ACQUISITIONONGC, HPCL buy out bankers in Petronet MHB for Rs 371 crNew Delhi: State-owned Oil and Natural Gas Corp (ONGC) and its subsidiary Hindustan Petroleum Corp Ltd (HPCL) have bought out lenders in Petronet MHB Ltd, the firm that owns a petroleum product pipeline in Mangalore, for about Rs 371 crore. SHWSHW

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