Share Market Highlights: Sensex ends 800 points higher and Nifty 50 above 17,800

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Share Market Update | HDFC Securities's Varun Lohchab on market
"Our expectation for the year was that we will deliver somewhere between plus five and minus 10 percent kind of returns and other global markets were looking far more attractive and so money is definitely flowing to other markets. The market keeps grappling with some issue or the other, right now because of this Adani issue we don't see too much impact on the broader financial sector or overall market earnings per se. So, we are not overly worried out there," says Varun Lohchab, Head-Institutional Research, HDFC Securities.

Market at Close | Sensex and Nifty 50 close sharply higher 

-- Sensex up 1.5 percent or 900 points

-- Nifty 50 above 17.800, up 1.2 percent

Rupee Close | Rupee ends 34 paise higher at 81.83 vs US dollar

FM reacts to SBI & LIC exposure to Adani Group: Both say it is well within permissible limits

Finance Minister Nirmala Sitharaman offered her first reaction to the rout in Adani Group companies in an exclusive interview to Network18. (Read more)\

Catch latest updates on FM's exclusive interaction with Network 18 here

Nifty 50 | Adani Ports is the top Nifty 50 gainer

-- 26 percent off day's low. 

-- Trading 8.4 percent higher at this hour. 

Stock Market Update | Tech budgets to be lower by 10-20%, says eClerx Services

IT consulting and outsourcing company Services has delivered a decent third quarter with dollar revenue growing by three percent on a sequential basis, margin however came in mildly lower. (Read more)

Stock Market Update | Kansai Nerolac reports December quarter earnings

-- Net profit down 14.2 percent at Rs 109.9 crore vs Rs 128 crore year-to-year

-- Revenue up one percent at Rs 1,827 crore vs Rs 1,810 crore year-to-year

-- EBITDA down 7.8 percent at Rs 195.5 crore vs Rs 212.1 crore year-to-year

-- Margin at 10.7 percent vs 11.7 percent year-to-year

Share Market Update | Adani group has a lot of very good quality assets: Mark Matthews

"I would say the group has a lot of very good quality assets. It has a lot of money, and it has a lot of potential sponsors and I don't think it's going away. And on India, broadly, I also don't think this will be a black mark on the country," says Mark Matthews, Bank Julius Baer & Co.

On Budget, Matthews said, "Nothing that surprised us, except for the fact that the fiscal deficit will remain about the same as it did last year. And we, like the rest of the market, thought that they would narrow the fiscal deficit. But that's not really a game changer. To my mind, there wasn't anything very surprising in the budget."

Stock Market Live | Adani Enterprises more than 54% off lows

-- The shares are trading 3.7 percent higher at this hour. 

-- Earlier in the session, the shares fell as much as 35 percent to hit 52-week low of Rs 1,017.45.

Share Market Update | Avendus Capital Alternate Strategies' Vaibhav Sanghavi on Adani Group crisis and market

"So I think the way I am kind of looking at is, you know, that enough and more kind of is mentioned about the whole episode across the channels. Sometimes, it's kind of wise to kind of put it off from our radar while we are looking to a broader market. Unfortunately, what has happened is basically it got amplified, because of the persistent negative flows into India, which is partly because of shift from India to China amongst the emerging market basket. So, in my view, I think market is at a pretty good position, in terms of the risk-reward ratio, and probably may see some amount of recovery from here onwards in the ground that the budget has been excellent," says Vaibhav Sanghavi, CoCEO at Avendus Capital Alternate Strategies. 

Stock Market Update | Some Adani Group Stocks Recover From Lows

- Adani Enterprises now down 11 percent after declining 35 percent
- Adani Ports now up 0.5 percent after declining over 10 percent
- However, other group companies like Adani Green, Total Gas, Power, Transmission and Wilmar remain locked in their respective lower circuits of 5 percent and 10 percent
- Other group companies like ACC also recover from the day's low, currently trading 1.3 percent higher
- Ambuja Cements also recovers from the day's low to trade flat

Stock Market Update | Moody's On Adani Group

- Recent developments may reduce ability to raise capital to fund committed capex
- Adverse developments may reduce ability to raise capital to refinance maturing debt
- Rated Adani companies have no significant debt maturity till financial year 2025

Stock Market Live | Bank of India reports December quarter earnings

-- Net profit at Rs 3,853 crore vs CNBC-TV18 poll of Rs 3,433.4 crore

-- NII at Rs 10,818 crore vs CNBC-TV18 poll of Rs 10,378.8 crore

-- Net profit up 75.4 percent at Rs 3,853 crore vs Rs 2,197 crore year-on-year

-- Gross NPA at 4.53 percent vs 5.31 percent quarter-on-quarter

-- Net NPA at 0.99 percent vs 1.16 percent quarter-on-quarter

-- Gross NPA at Rs 41,857.5 crore vs Rs 46,374.4 crore quarter-on-quarter

-- Net NPA at Rs 8,853.8 crore vs Rs 9,672.2 crore quarter-on-quarter

Stock Market Update | Birlasoft's new CEO continues to maintain $1 billion revenue aspiration, but conditions apply

Birlasoft's new CEO Angan Guha, who only took charge in December last year, remains hopeful that the company will achieve its aspiration of $1 billion in annual revenue. (Read more)