Sensex sinks 770 pts, Nifty gives up 17,550 amid global sell-off; PSBs soar

CLOSING BELL: Reliance Industries tanked 3 per cent today, contributing nearly 30 per cent of the losses on the Sensex

4:19 PM

TECHNICAL VIEW: Kunal Shah - Senior Technical & Derivative Analyst at LKP Securities

The Bank Nifty index witnessed volatility throughout the day and ended negatively. After a gap-down opening, the index managed to hold the support of 38,800-38,500 on the downside, indicating the bias remains on the positive side. The immediate hurdle on the upside is placed at 39,500 and once taken out will see a sharp move on the upside towards 41,000 levels.

4:17 PM

COMMODITIES CHECK: Brent Crude extends slide, down 2.3%

source: oilprice.com

4:14 PM

GLOBAL CHECK: Muted trade for European markets

4:10 PM

GLOBAL CHECK: US equity futures on a slippery slope; Dow Futures down 150pts

4:07 PM

Sensex drops over 1,000 pts intra-day: Top factors behind Thursday's crash

Index heavyweights, Reliance Industries and Tata Consultancy Services contributed the most to the sharp cuts as they slipped between 2-3 per cent. READ MORE

4:02 PM

TECHNICAL VIEW: Rupak De, Senior Technical Analyst at LKP Securities

Nifty remained sideways during the day before ending 1% lower. After starting to gap down on the back of a weak global cue, the Nifty failed to recover fully and traded within a range for the day. The momentum indicator is in a bearish crossover indicating a bearishness. On the lower end, 17400 may continue to act as crucial support, below which the index may become weak again. On the higher end, resistance is visible at 17700.

3:55 PM

MARKET COMMENT: Vinod Nair, Head of Research at Geojit Financial Services

Domestic indices moved in line with peers while prospects of higher rate hikes, elevated inflation and a slowing economy put pressure on stock markets around the world. Although India’s Q1 GDP was reported below the RBI’s estimate of 16.2%, the strong growth seen in manufacturing activity during Q2 so far indicates a strong recovery in the domestic market. Additionally, ongoing support from FIIs will obscure the weakness, helping domestic indices to stay resilient.

3:51 PM

Hindalco, Reliance, ONGC top Nifty50 losers

3:48 PM

Tata Consumer, Bajaj Finserv, Asian Paints top Nifty50 winners

3:45 PM

Broader markets outperform benchmark; India VIX climbs 6%

3:42 PM

Nifty IT, Nifty Pharma indices end as worst sectoral performers

3:37 PM

SENSEX HEATMAP: Only 7 out of 30 index constituents close positive

3:34 PM

CLOSING BELL: Bears takeover D-street as Nifty50 slips below 17,550

3:32 PM

CLOSING BELL: Sensex slips below 59,000, closes 750 points lower

3:19 PM

Dish TV shares surge 20% as chairman set to exit after YES Bank tussle

YES Bank, which holds an about 25% stake in Dish TV, has been pushing for a board reconstitution, including the removal of Goel, Narang and other members, citing corporate governance issues and alleging that the board was "purportedly acting at the behest of certain minority shareholders". READ MORE

3:10 PM

Centre's fiscal deficit at 5.2% of GDP in Q1; experts say it may widen

However, experts feel this does not necessarily imply that the Centre is on course to ensure the fiscal deficit is lower than the BE of 6.4 per cent in the current fiscal, despite a rise in expenditure on food and fertiliser subsidies and lower non-tax receipts. The experts believe that capital expenditure (capex) will be higher in the second half. READ MORE

2:58 PM

Commodity Corner :: Brent crude slips 2% as demand concerns weigh

2:51 PM

Zee Entertainment dips 6% amid reports of CCI scrutiny over Sony deal

The Competition Commission of India's August 3 notice to the two companies stated the watchdog is of the view that a further investigation is merited. "It has given the two companies 30 days from August 3 to respond. The CCI's findings will delay regulatory approval of the deal and could force the companies to propose changes to its structure," Reuters reported. READ MORE

2:43 PM

Amid China's slowdown, Asian manufacturing hubs see dip in demand

It was a mixed picture elsewhere in the region. Malaysia’s PMI reading slipped to 50.3 from 50.6, while gauges for the Philippines, Indonesia and Thailand all increased. A reading below 50 indicates a contraction, while anything above that level points to an expansion. READ MORE

2:32 PM

RBI ready to relax norms to facilitate LIC, government stake sale in IDBI

If the RBI agrees, DIPAM may start the process over the next few weeks, the report added. The largest stake in IDBI is currently held by the LIC. It holds 49.2 per cent of all the shares in the bank. It is followed by the government, which holds 45.5 per cent. READ MORE
 

2:22 PM

AUTO SALES | Mahindra Auto sells 29,516 SUV's and 59,049 vehicles overall in August 2022

Check details here

2:15 PM

AUTO SALES | Tata Motors reports total sales of 78,843 vehicles in August vs 57,995 units YoY

2:10 PM

Global markets :: European markets start September on a negative note

>> European markets made a negative start to the new trading month as traders grapple with fears of higher interest rates and a looming economic downturn.

>> The pan-European Stoxx 600 fell 1.1% in early trade, with basic resources shedding 3% to lead losses as all sectors and major bourses slid into the red.

Source: CNBC

2:04 PM

MARKET CHECK :: Indices at day's low

1:58 PM

AUTO SALES | Maruti Suzuki logs Aug sales at 1,65,173 units, down 6% MoM

The shortage of electronic components had a minor impact on the production of vehicles, mainly in domestic models, Maruti Suzuki said.

1:48 PM

BSE 200: Adani stocks outperform indices, Zomato down 57.8% in 2022 so far

Top gainers have surged between 50% and 315%, while new-age tech companies, such as Zomato and PB Fintech, have lost half their market value. Read more

1:37 PM

Toyota Kirloskar says sales up 17.12% in Aug, cites 'unprecedented orders'

Automobile firm says it is holding orders for Innova Crysta's diesel variant after huge demand for MPV. Read more

1:22 PM

Dish TV, Nelco, NDTV, Reliance Capital and 242 others freeze at upper circuit

As of 12.14 pm, these stocks gained between 5 per cent and 20 per cent, as against 0.85 per cent decline in the Sensex at 59,032 points. Read more

1:13 PM

AUTO SALES | M&M Aug tractor sales at 21,520 units; overall sales at 59,049 units

Total tractor sales (Domestic + Exports) during August 2022 were at 21,520 units, as against 21,360 units for the same period last year.

12:58 PM

AUTO SALES | Eicher Motors Aug CV sales at 5,003 units vs 4,793 units last yr

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