Sensex dips 420 pts on weak global cues; Aurobindo Pharma down 12%, TaMo 5%

CLOSING BELL: Hero MotoCorp, HDFC Bank, Kotak Bank, ONGC, Bharti Airtel, and Dr Reddy's Labs, meanwhile, eked out gains up to 2.6 per cent

4:14 PM

Tech view: Trend may be sideways as long as Nifty hold 18,000

"The benchmark Nifty had started lower and slipped below 18,000 briefly. However, bulls managed to hold the 18,000 mark on a closing basis. The trend may remain sideways as long as it remains above 18,000. On the higher end, 18,300 will continue to act as crucial resistance."

 

- Rupak De, Senior Technical Analyst at LKP Securities

4:13 PM

COMMENT:: Likely slowdown in US CPI inflation may boost market

"Following sluggish global markets, the cautious mood persisted in the domestic market. Losses on the Dalal Street were led by profit booking in auto and PSU banks, while selling in mid and small caps followed the trend. Investors around the globe are awaiting US inflation data, which is expected to slow for the fourth month, which can have a positive lead."

 

- Vinod Nair, Head of Research at Geojit Financial Services

4:08 PM

Axis Bank dips nearly 4% as govt initiates SUUTI's 1.55% stake sale via OFS

Shares of Axis Bank dipped nearly 4 per cent at Rs 841 on the BSE in Thursday's intra-day trade after the government, via Specified Undertaking of the Unit Trust of India (SUUTI), initiated sale of over 1 per cent stake in the company via offer for sale (OFS) route today. READ MORE

4:06 PM

Aurobindo Pharma slumps nearly 12% amid reports of Sarath Reddy's arrest by ED

Shares of Aurobindo Pharma tumbled over 14 per cent to a low of Rs 464.20 on the BSE following reports of arrest of its director Sarath Reddy under sections of the Prevention of Money Laundering Act (PMLA) by the Enforcement Directorate (ED). READ MORE

4:02 PM

Tata Motors sheds 5% on Q2 earnings miss; brokerages divided on outlook

Improving chip supply and cooling commodity prices will aid revenue and margins recovery and hence aim to deliver strong improvements in EBIT and free cash flows in H2 FY23, the company said. READ MORE

4:00 PM

Neuland Labs hits 20% upper circuit after solid Q2; stock at 10-month high

The company reported a record EBITDA margin of 23.6 per cent, led by shift in business mix towards higher margin products as well as various cost optimization initiatives. READ MORE

 

3:58 PM

Primary Market Update:: Archean Chemical sees better response

Five Star Business IPO subscribed just 18 per cent on Day 2

 

Archean Chemical subscribed 94 per cent on Day 2

 

Kaynes Technologies subscribed 21 per cent on Day 1

 

(Data as of 3:55 PM)

 

3:56 PM

Rupee ends 37 paise weaker at 81.81/$

Source: Bloomberg

3:51 PM

Market breadth was fairly negative; 129 stocks hit new 52-week high on BSE

3:49 PM

Nifty PSU Bank index slips over a per cent; Uco Bank, Central Bank crack up to 5%

3:46 PM

Nifty Auto Index skids 2%; Tata Motors, Mahindra & Mahindra weigh

3:43 PM

Broader indices ended with deeper cuts, down up to 1.3%; India VIX dips over 2%

3:40 PM

Nifty 50 Losers:: Tata Motors, Axis Bank, M&M slip over 3%

3:38 PM

Nifty 50 Gainers:: Hero MotoCorp, HDFC Bank among notable movers

3:36 PM

Sensex 30 Heatmap:: 23 Losers v/s 7 Gainers

3:35 PM

NSE Nifty50 sheds 129 pts, settles at 18,028

3:33 PM

Closing Bell:: Sensex ends 420 pts lower at 60,614

3:24 PM

Global Check:: US stock futures marginally in green; UK in red

Source: Investing.com

3:17 PM

Neuland Labs hits 20% upper circuit after solid Q2; stock at 10-month high

The company reported a record EBITDA margin of 23.6 per cent, led by shift in business mix towards higher margin products as well as various cost optimization initiatives. READ MORE

 

3:08 PM

SAT relief for Bombay Dyeing and Wadias in Sebi market ban case

In a relief to Bombay Dyeing and Manufacturing Company and its promoters Nusli Wadia, his sons Ness Wadia and Jehangir Wadia, the Securities and Appellate Tribunal (SAT) has stayed the effects of an order by the Securities and Exchange Board of India (Sebi) restraining them from the capital market for two years. The matter will be next heard in January 2023. READ MORE

3:00 PM

Adani, Reliance among 15 bidders in race to buy Future Retail's assets

Capri Global Holdings, OP Jindal group's Nalwa Steel and Power, Shalimar Corporation, UV Multiple Asset Investment Trust's Special Situation Fund and United Biotech have also sent their EoI by November 3, the extended deadline for potential buyers to submit their bids. READ MORE

2:53 PM

BSE 500:: Top losers so far

Team Lease Services and Aurobindo Pharma down over 12 per cent each were the top losers among the BSE 500 stocks. Quess Corp, Deepak Nitrite and The Ramco Cement were the other major losers, down 8 - 10 per cent each.

2:44 PM

Sam Bankman-Fried: 'Crypto genius' who lost $14.5 billion in a single day

Bankman-Fried disappeared from the Bloomberg Billionaires Index on Tuesday after $14.5 billion vanished from his net worth in a single day. READ MORE

2:37 PM

TeamLease Services plunges 18%, hits two-year low on margin concerns

The management said that the headwinds in the IT industry have started impacting the specialized staffing growth and may continue for a while. READ MORE

2:27 PM

Global Check:: Asian markets see deep cuts; Hang Seng dips 1.7%

Source: Yahoo Finance

2:18 PM

BSE 500:: Top gainers so far

Gujarat Pipavav Port up 8.2 per cent was the top gainer among the BSE 500 stocks so far on Thursday. It was followed by Godrej Properties, New India Assurance, Endurance Technologies and CRISIL.

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2:10 PM

Tata Motors only loser among auto stocks in 2022. Can it recover lost ground?

Within the auto sector, TVS Motors has soared 79 per cent far this year. Mahindra & Mahindra and Eicher Motors were the other major gainers. READ MORE

1:59 PM

IPO Update :: Five Star Business Finance's issue subscribed just 8% so far on day 2

1:49 PM

Elon Musk's Tesla loses 2 years of gains amid Twitter saga, demand fears

Tesla investors had remained suspicious that Musk would unload more shares in the carmaker, despite his denials. Those fears were confirmed Tuesday in a regulatory filing that disclosed the sale of shares worth $3.95 billion, bringing his total proceeds over the past year to about $36 billion. He still owns about 14%, according to Bloomberg data. READ MORE

1:38 PM

Rated Indian infrastructure firms most exposed to currency risk: S&P

These companies will need capital for capex targets and refinancing. They should be able to raise funds domestically, rather than using high-cost offshore debt, S&P said in a report called ‘Asia-Pacific's Strong-Dollar Problem: Inconvenience Today, Headache Tomorrow’. READ MORE