Sensex falls 664pts from day's high, ends 49pts down; RIL up 2%, autos dip

CLOSING BELL: The Nifty IT index was the only gainer, up 0.45 per cent

4:10 PM

Technical view: Rupak De, Senior Technical Analyst at LKP Securities

Nifty erased the opening gains as the benchmark index ended more than 200 points off the day's high. The trend for the short term, however, remains bullish. On the lower end support is placed at 16400. On the higher end, 16700 may continue to act as crucial resistance on a sustained basis. A close above 16700 may induce a rally towards higher levels.

4:08 PM

Market view: Vinod Nair, Head of Research at Geojit Financial Services

The late sell-off indicates the lack of confidence in the domestic market driven by the concerns over Central Bank policy. While in the global market, the investors were waiting for the release of US job data. The RBI is expected to hike rates by 25bps to 35bps and the Fed by 50bps, but the outlook & changes in the economic growth and inflation will determine the market trend. If the central banks decide on a stringent policy tightening, the market mood can swing bearish.

4:06 PM

Mixed trade for European markets

4:04 PM

US equity futures trade on a slippery ground ahead of jobs data

4:02 PM

CURRENCY CHECK: Rupee closes 3 paise lower against US dollar

4:00 PM

Closing bell: Over 1,900 stocks declined whereas 1,366 advanced

3:55 PM

Closing bell: JK Cement, Dalmia Bharat among stocks that hit 52-week low

3:53 PM

Closing bell: Kohinoor Foods, Ratnamani Metals hit fresh 52-week high

3:50 PM

Closing bell: Grasim, Ultratech Cement, Shree Cement top Nifty50 losers

3:48 PM

Closing bell: RIL, Infosys, L&T top Nifty50 gainers

3:45 PM

Closing bell: Barring Nifty IT, all sectors drown in red

3:37 PM

Closing bell: Broader markets tepid; India Vix slips 1%

3:35 PM

Closing bell: Only 10 out of 30 Sensex stocks sizzle in green

3:33 PM

Closing bell: Sensex erases 600-point surge and closes flat

3:32 PM

Closing bell: Nifty50 wipes off gains, closes below 16,600 levels

3:25 PM

NEWS ALERT :: Preliminary reports reveal that ITC's wheat exports to Turkey were rejected, says Piyush Goyal

>> No one doubts ITC's quality

>> ITC is looking into the rejection of consignment

>> Have not stopped restaurants from increasing prices

>> Wrong to say restaurants will face losses if service charge is removed.

3:25 PM

Strong cotton prices could increase planting to record high of 15%

Higher output could help cool the rally in global and local cotton prices, which is hurting Asian apparel makers. READ HERE

3:15 PM

Indian rice farmers look forward to a good monsoon and a better harvest

Rice has come into focus recently on worries that India may restrict exports of the crop next, after similar moves in wheat and sugar. READ HERE

3:13 PM

3rd-party insurance premium hike for 2-wheelers may not impact demand: ICRA

ICRA said it expects a 7-10 per cent year-on-year volume growth in the two-wheeler industry this fiscal, despite inflationary pressures and elongated semiconductors shortage due to the Russia-Ukraine war. READ MORE

3:03 PM

BSE Sensex Heatmap:: RIL, Infosys firm; UltraTech, Maruti, NTPC slide

2:55 PM

S&P BSE Sensex near day's low, up only 100 points

2:48 PM

Japanese tech investor SoftBank's investment in India may fall to a third

Japanese tech investor SoftBank may end up investing around $1 billion in India in 2022, nearly a third of what it did last year, according to people closely tracking its plans. Last year, SoftBank undertook investments of $3.2 billion in 12 deals. READ MORE

2:42 PM

Mukesh Ambani surpasses Gautam Adani, becomes Asia's richest man again

In the last 24 hours, the Bloomberg's Billionaires Index, which tracks each billionaire's net worth, said that Ambani saw an increase in his wealth of $3.59 billion. Adani added $2.96 billion to his net worth. READ MORE

2:33 PM

BSE 500:: Volume Shockers

CEAT has witnessed unusally high volume of 57,350 shares so far on the BSE as against its five-day average volume of 2,370-odd shares. Apollo Tyres, Divis Labs, EPL and UltraTech Cement too have witnessed unusually high volume in trades so far on Friday.

2:23 PM

Hikal slips 21% in one week, hits fresh 52-week low on disappointing Q4

The inflationary pressures and a sharp rise in input costs of raw material, energy and solvents, the management expects industry growth to be tapered and margins to be contract in the current fiscal. READ MORE

2:14 PM

PSUs asked to route strategic divestment, minority stake sales via DIPAM

The process for strategic divestment will be through competitive bidding, while soon-to-be specified guidelines will have to be followed for shutting down units. READ MORE

2:05 PM

BSE 500:: Stocks recovering smartly from the lows of the day

Esab India, Indiabulls Housing Finance and CreditAccess Gramin have gained around 5 per cent each from the respective lows of the day so far. EPL and MRPL were the other notable movers.

1:57 PM

BSE 500:: Stocks falling significantly from the highs of the day

Fine Organic has slumped almost 12 per cent from the highs of the day. Ratnamani Metals, UltraTech Cements, Grasim and Dalmia Bharat are some of the other stocks to have also lost significant ground from their respective highs' of the day so far.

1:47 PM

Global Check:: US futures marginally in red

Source: Investing.com

1:41 PM

Tesla pauses all hiring. Need to cut staff by 10%, says Elon Musk

Tesla CEO Elon Musk said he had a "super bad feeling" about the economy and that the electric carmaker needed to cut staff by around 10 per cent. READ MORE