Indices at previous closing
Nifty50: 16,345 ▲331 (+2.0%)
Sensex: 54,647 ▲1,223 (+2.2%)
Nifty Bank: 33,815 ▲657 (+1.9%)
For more updates on F&O, click here.
PNB Housing plans to raise capital
The board of the non-banking finance company (NBFC) has given its approval to raise ₹2,500 crore through an equity rights issue. According to reports, the funds could be used for expanding business at a time when the demand for home loans is rising.
The disbursement of home loans has reportedly crossed the pre-pandemic levels. Last year, PNB Housing Finance couldn’t go ahead with its stake sale plan due to regulatory hurdles. Meanwhile, shares of the lender were up 0.1% but the announcement came after market hours.
Zydus Life rises on new drug acquisition
Shares of the pharmaceutical company rose around 5% intraday after its US subsidiary bought global rights for development and commercialization of the fosdenopterin drug under the Nulibry brand. BridgeBio Pharma’s Nulibry for injection is used to reduce the risk of mortality in patients with an ultra-rare, life-threatening paediatric genetic disorder.
This drug has been approved by the US drug regulator. The management said that this acquisition further adds to its portfolio of medicines for rare and orphan diseases.
Fresh US sanctions could fuel oil prices
The US government’s decision to ban Russian oil, natural gas and coal could push prices of oil to a new high in the near-term, according to experts. They also said that delay in the Iran-US nuclear deal could also lead to the rise in oil prices.
Experts also warned that the Russia-Ukraine war has sparked the highest commodity inflation in more than 60 years. Meanwhile, oil prices have cooled down from Monday’s high of $139 per barrel.
Sectoral indices (March 9)
| Top gainers | Top losers |
| Nifty Realty ▲ 4% | Nifty Metal ▼ 0.3% |
| Nifty Media ▲ 3% | NA |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▲ 1.7% |
| Nikkei 225 (Japan) | ▲ 3.7% |
| Hang Seng (Hong Kong) | ▲ 1.8% |
| SSE Composite (China) | ▲ 1.5% |
| Dow Jones (US) (March 9) | ▲ 2.0% |
| NYSE (US) (March 9) | ▲ 2.2% |
| Nasdaq (US) (March 9) | ▲ 3.5% |
| S&P 500 (US) (March 9) | ▲ 2.5% |
Fact of the day
Microsoft bought the video games company Activision Blizzard for $69 billion, making it the biggest tech deal ever.
Source: CNBC
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