Market News
Stay updated with the latest market trends, earnings, and economic indicators.
LNG disruption may not hurt kharif fertiliser supply; Coromandel, Paradeep top picks: Elara
Elara Securities’ Prashant Biyani said fertiliser availability in India remains comfortable ahead of the kharif season, with sufficient closing stocks of urea and phosphate fertilisers. As of mid-February, urea inventory stood at about 4.1 million tonne, equal to nearly two and a half months of consumption, which should help manage any gas supply disruption. Biyani expects sales to remain steady due to farmer pre-buying, though minor logistical disruptions may occur. He remains structurally positive on Coromandel and Paradeep Phosphates.
Live: Banking stocks fuel Nifty above 24,500; Uncertainty persists on US-Iran talks | Closing Bell
Indian markets ended lower, dragged by weakness in IT stocks. The BSE Sensex slipped over 650 points, while the Nifty 50 fell below 24,450. HCL Technologies led the decline, logging its sharpest fall in 11 years after weak guidance, pulling down peers like Infosys and TCS. Despite the headline fall, market breadth remained positive with broader markets outperforming, as smallcaps extended gains for a second straight session. Financials were under pressure, with ICICI Bank and HDFC Bank slipping. On the upside, stocks like Tata Consumer Products, NTPC and Hindustan Unilever emerged as key gainers.