Sensex ends 334 points lower, Nifty at 15,635; PSU banks, autos drag

All that happened in the markets today

4:07 PM

TECH VIEW :: Ashis Biswas, Head of Technical Research at CapitalVia Global Research

The market witnessed a sharp correction after reaching higher levels. 15500 will be an important support in the short term. The market can gain momentum, after finding support near 15500, leading to an upside projection till 15,870-15,900 level. We have also observed that the momentum indicators like RSI and MACD supporting a positive trend in the market.

4:04 PM

Rupee falls for 2nd day, settles 8 paise down at 72.97/USD

The rupee declined by 8 paise to end at 72.97 against the US currency on Wednesday in its second straight day of losses amid a lacklustre trend in domestic equities. At the interbank foreign exchange market, the rupee opened on a negative note at 72.90 per dollar as against its previous close of 72.89. It hovered in the range of 72.88 to 73.02 per dollar during the day before ending at 72.97.

(Text Source: PTI)

4:01 PM

MARKET QUOTE :: Vinod Nair, Head Of Research at Geojit Financial Services

Domestic market witnessed profit booking due to dull opening of European markets. Global investors remained cautious ahead of European Central Bank (ECB) policy decision and US inflation data to be released on Thursday. ECB is expected to continue its bond-buying policy to support a recovering economy. And US inflation is forecasted to be high but transitory, both these factors, if inline, will provide comfort to the market. 

3:59 PM

MARKET CLOSING COMMENT :: S Ranganathan, Head of Research at LKP Securities

As the onset of Monsoon lashed the Financial Capital of the country and cooled the heat, today's afternoon trade did see a cool off in the Small & Midcap segment as investors booked profits. While Gas stocks witnessed selling, Power stocks continued their upward trajectory today also on sustained buying despite profit-taking seen at higher levels. In the broader market, as the IPO season began we saw accumulation in Paper stocks on the expectation of producers raising prices. 

3:56 PM

Petronet LNG ends 8% lower post Q4 numbers

3:55 PM

GAIL closes 3% lower as revenue & EBITDA come in lower than estimates

3:53 PM

BSE Power index extends gains, rises nearly 1%

>> Here is a look at  the top gainers & losers from the pack

3:50 PM

BSE Midcap index ends lower after hitting fresh peak in intra-day session

3:45 PM

BSE Smallcap index slides 1% after hitting fresh high in trade today

3:41 PM

Sector Watch :: All sectoral indices on NSE ended in the red

3:39 PM

Sensex Heatmap :: Top gainers & losers in today's session

>> PowerGrid best performer while Reliance Industries worst laggard

3:38 PM

CLOSING BELL :: Nifty ends at 15,635, down 105 points

>> The 50-pack index had hit an all-time high of 15,800 in intra-day today

3:35 PM

CLOSING BELL :: Sensex extends losses to 2nd day, slips 334 points

>> Sensex declined over 500 points from day's high

3:26 PM

BUZZING :: RailTel Corporation surges post Cabinet announcement

3:16 PM

Cabinet Briefing

• Approves increase in minimum support price for summer sown crops
• Approves allocation of 5MHz 4G spectrum to railways

3:10 PM

Petronet LNG dips 7% on disappointing March quarter results

Shares of Petronet LNG declined 7 per cent to Rs 229.55 on the BSE in intra-day trade on Wednesday after the firm reported a disappointing set of numbers for the March quarter (Q4FY21). The stock had hit a 52-week low of Rs 207 on October 14, 2020. The state-owned oil marketing and distribution company reported an 11.6 per cent year-on-year (YoY) decline in consolidated revenue from operations at Rs 7,575 crore and total volumes were flattish YoY (down 7.2 per cent QoQ) at 218 tbtu. READ MORE

3:05 PM

Q4 earnings | GAIL reports profit of Rs 1,908 crore

-- Revenue at Rs 15,449 crore

-- Ebitda at Rs 2,465 crore

-- Margin at 16%

3:03 PM

RIL extends fall, down 2% now

2:49 PM

N S Venkatesh, Chief Executive, AMFI on May MF data

Retail equity-oriented contribution continues to be on the upward trend driven by net flows predominantly in Arbitrage, Multicap, Midcap schemes, as also smart diversification in Fund of Fund schemes which invest in foreign equities. Retail SIP Accounts, SIP AUMs and SIP Contribution which signifies retail activity in the Mutual Fund industry has seen continued upward trend for the second month this fiscal, leading to overall Industry AUMs moving to record high of INR 33.05 lakh crores and 10 crore folios.

2:41 PM

Market View | Aashish P Somaiyaa, CEO at White Oak Capital on AMFI data

12,000 crs net inflow in equity and equity oriented hybrid funds is a significant jump and a sign of investor confidence – amongst the highest net inflows in a long time especially if one further adds flows into index funds, ETFs and international equity funds. Basis recency bias one is seeing a rising trend of money flowing into international funds and investors need to be wary of trend following piling more and more money into developed market technology stocks in the late stages of a multi-year boom.

2:36 PM

MARKET UPDATE:: RIL, ICICI Bank, and L&T among top contributors to Sensex's 350-pts fall today

2:27 PM

Equity mutual funds see Rs 10,000 cr-inflow in May, a 14-month high

Equity mutual funds witnessed a net inflow of over Rs 10,000 crore in May, making it the third consecutive monthly infusion. This is a 14-month high i.e. highest since March 2020. This was way higher than Rs 3,437 crore net inflow seen in April and Rs 9,115 crore in March, data from the Association of Mutual Funds in India showed on Wednesday. READ MORE

2:18 PM

TeamLease Services rallies 17%, hits new high post March quarter results

Shares of TeamLease Services rallied 17 per cent to hit a record high of Rs 4,064.95 on the BSE in intra-day trade on Wednesday after the company reported a consolidated net profit at Rs 19.6 crore for the March quarter (Q4FY21) on the back of healthy operational performance. The company, one of India’s largest staffing companies, had posted a loss of Rs 29.4 crore in the year- ago quarter. The stock surpassed its previous high of Rs 3,884, touched on April 6, 2021.READ MORE

2:04 PM

MARKET UPDATE:: Nifty sectoral indices painted red at this hour

1:57 PM

European markets check

(Source: Reuters)

1:52 PM

Sona Comstar sets price band of Rs 285-291 per share for Rs 5,550 cr-IPO

Auto component maker Sona BLW Precision Forgings (Sona Comstar) on Wednesday fixed a price band of Rs 285-291 a share for its Rs 5,550 crore initial public offer (IPO). The three-day IPO will open on June 14 and conclude on June 16. The bidding for anchor investors will open on June 11, according to the company. The Rs 5,550-crore IPO comprises fresh issue of shares amounting to Rs 300 crore and an offer for sale (OFS) aggregating up to Rs 5,250 crore by selling shareholder Singapore VII Topco III Pte Ltd, an affiliate of the Blackstone Group Inc.

 

(Text Source: PTI)

1:45 PM

Top Sensex drags at this hour

1:35 PM

Power stks extend rally; Torrent Power, JSW Energy, Power Grid at new highs

Shares of power generation and distribution companies continued their upward movement, with Adani Power, Torrent Power, JSW Energy and Power Grid Corporation hitting their respective all-time highs on the BSE in intra-day trade on Wednesday amid strong demand. Tata Power Company, CESC, Bharat Heavy Electricals (BHEL) and NTPC were quoting at their respective 52-week high levels. READ MORE

1:27 PM

Fall from intra-day high in BSE500 stocks in today's session

COMPANY	DAY'S HIGH(RS)	DAY'S LOW(RS)	LATEST(RS)	FALL(%)
Adani Power	167.05	138.20	149.00	-10.81
D B Corp	124.60	110.65	112.05	-10.07
Heritage Foods	452.90	412.60	412.65	-8.89
Team Lease Serv.	4064.95	3450.00	3717.85	-8.54

1:17 PM

Bear attack! Sensex wipes off gains, slips into the red