Sensex drops 652pts, Nifty near 17,750 as growth concerns weigh; banks sink

CLOSING BELL: The broad-based sell-off was led by financials including IndusInd Bank (down 4 per cent), Bajaj twins, SBI, ICICI Bank, Kotak Bank, and HDFC duo

4:03 PM

Nifty tech view: Markets may trade sideways to negative

"The Nifty has fallen lower as the Indian equities failed to absorb the selling pressure around the 18,000 mark. Besides, the index has formed a bearish engulfing pattern on the daily chart. The index has found support at the falling trend line. In the near term, the trend is likely to remain sideways to negative. However, a fall below 17,700 may trigger a serious correction in the market. Support on the lower end is visible at 17,500/ 17,400. On the higher end, resistance is visible at 17,900 -18,000."

 

- Rupak De, Senior Technical Analyst at LKP Securities

3:54 PM

Expert view: Strength in dollar index, FII selling surprised bulls

"Profit booking amid weak global cues impacted domestic indices as concerns about interest rate hikes hung over the markets. Additionally, the recent rally of the dollar index and FIIs turning net sellers has surprised bulls. Broad-based selling was witnessed with the index heavyweights dragging the index further down."

 

- Vinod Nair, Head of Research at Geojit Financial Services

3:50 PM

Adani Power surpasses NTPC in m-cap ranking; zooms 318% thus far in 2022

In the past one month, share price of Adani Power has appreciated by 41 per cent, as compared to 6 per cent gain in the market price of NTPC. The S&P BSE Sensex, meanwhile, rallied 10 per cent. READ MORE

3:49 PM

IRCTC gains 3% on data monetisation plan

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) jumped to a high of Rs 752.80, up 5.5 per cent in intra-day trade on Friday as the company announced plans to monetise its passenger data bank. READ MORE

3:45 PM

Tata Chemicals hits new high; surges 38% in one month on healthy outlook

An anticipated reduction in imports and the ongoing programs on driving cost reductions and efficiencies will likely yield benefits in margins.

3:44 PM

Power Mech hits new high on order win from Adani Group; jumpst over 8%

The company said it bagged an order worth Rs 6,163.2 crore for five flue gas desulphurization [FGD] projects from the Adani Group. READ MORE

3:42 PM

Ambuja Cements gains 2%; stock inches towards 52-week high

Last week, the Competition Commission of India (CCI) approved Adani Group's acquisition of Ambuja Cements and ACC from Switzerland's Holcim. READ MORE

3:35 PM

Sensex 30 Heatmap:: Only three gainers; IndusInd, Bajaj twins fall the most

3:33 PM

Closing Bell:: S&P BSE Sensex ends 652 points lower at 59,646

3:22 PM

BSE 500:: Volume Shockers

Cams Services has witnessed unusually high volume of around 2.37 lakh shares so far on the BSE as against its five-day average volume of around 6,800-odd shares. Similarly, Gland Pharma, IIFL Finance, Adani Green and Vardhman Textile witnessed a significant spike in volume on Friday.

3:13 PM

RBI on PSBs privatisation: Prefer gradual rather than bang app approach

RBI researchers are of the view that instead of a big bang approach, a gradual approach to privatisation would result in better outcomes. READ PRESS RELEASE

3:03 PM

Financial shares slip; SBI Cards, Bajaj twins decline up to 4%

2:53 PM

Global Check:: US, UK stocks futures deep in red

Source: Investing.com

2:45 PM

Jubilant Foodworks bullish about medium-term market potential in India

The company achieved a remarkable feat of delivering more than 70 per cent of delivery orders in less than 20 minutes, the company claimed. READ MORE

2:36 PM

BSE 500:: Top losers so far

Zomato has slipped nearly 8 per cent and was the top loser among the BSE 500 stocks so far. It was followed by Mazagon Dock, MRPL, IIFL Finance and Varun Beverages.

2:28 PM

BSE 500:: Top gainers so far

Wockhardt has soared 9 per cent and was the top gainer among the BSE 500 stocks so far on Friday. Vardhman Textile, Adani Green, Adani Ports and TV18 Broadcast were some of the other significant gainers, up 5-6 per cent each.

2:21 PM

Heatmap :: Financials drag Sensex; IndusInd, Bajaj Finserv top laggards

2:10 PM

Ambuja Cements surges 10% in one week; stock inches towards 52-week high

The competition watchdog on August 12 said the approval was granted to Endeavour Trade and Investment, which is a special purpose vehicle (SPV), set up in Mauritius and controlled by the Adani family. READ MORE

1:56 PM

ALERT :: Moody's cuts China 2022 GDP growth forecast to 3.5% from 4.5%

1:55 PM

BSE 500 :: Muthoot Finance, PVR, Inox Leisure among top weekly losers

Chemplast Sanmar, Mahindra CIE, and Sona BLW also shed up to 7% this week.

1:48 PM

BSE 500 :: IRCTC, Happiest Minds, Adani Power among top weekly gainers

Others include Brightcom, Hikal, Indiabulls Real Estate, Adani Green.

1:36 PM

Top BSE stocks with high turnover at this hour

1:25 PM

Top BSE losers at this hour

1:15 PM

RIL eyes new high; ONGC, HPCL can gain up to 8% amid windfall tax revision

In trades so far on Friday, Bharat Petroleum Corporation (BPCL), Reliance Industries, Indian Oil Corporation and Hindustan Petroleum Corporation have declined up to 2 per cent. On the other hand, Oil & Natural Gas Corporation (ONGC) has moved 1 per cent higher in an otherwise weak market. READ MORE

1:03 PM

Asian market's dry spell leaves India's credit with worst streak in 13 yrs

Debt sales have suffered globally this year in the face of red-hot inflation and aggressive policy tightening by central banks, despite a spate of US companies storming the market this week. In Asia, depreciating currencies have raised the cost of servicing offshore debt, prompting companies such as JSW Steel Ltd. to consider the local-currency market instead. READ MORE

12:50 PM

Trai sets the ball rolling on auction across 4 bands

The Telecom Regulatory Authority of India (TRAI) has begun work on a consultation paper for auctioning of spectrum in four bands: the two crucial satellite bands which include Ka (satellite to earth 17.2-21.2 GHz and upload from 27.5-31 GHz) and KU (10.2-14.5 GHz) which enable broadband services, and the contentious E band (71-76 to 81-86 GHz ) as well as the V band (between 57-71 GHz). READ MORE

12:40 PM

Broader markets underperform benchmark; India Vix spikes 4%

12:29 PM

MARKET CHECK: Sensex extends slide, over 700 points

12:17 PM

Sensex on track to hit 65,000 in the medium-term, charts show

As per the technical charts, the Sensex has crossed two big crucial levels of 58,500 and 59,800. This scenario is likely to trigger a fresh rally that can see the index cross the last all-time high. READ MORE

12:07 PM

IndusInd Bank, Bajaj Finance, Apollo Hospitals top Nifty50 losers at this hour