Sensex jumps 437 pts, Nifty holds 16,600; RIL zooms 3.6%, Delhivery 6%

CLOSING BELL: Reliance Industries (RIL) was the biggest contributor, accounting for over 65 per cent of today's gains, as its shares surged 3.6 per cent

4:06 PM

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

Nifty remained volatile with a positive bias throughout the session. On the daily chart, the benchmark index Nifty has formed an engulfing kind of pattern, suggesting bullishness. Daily RSI is in bullish crossover and rising. On the higher end, the index has resistance at 16700; above 16700, the Nifty can move towards 17000. The trend is likely to remain positive as long as it sustains above 16400.

4:02 PM

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

The bounce in the market is showing signs of getting extended further supported by a mid and small-cap. High-frequency data like GST collection and PMI have shown a good start to FY23. Crude prices have declined providing an edge to the performance of the Indian market. However, a lot will depend on central bank’s policy in India & US, which will be announced in the next two weeks.

4:00 PM

CURRENCY CHECK: Rupee depreciates 10 paise against US dollar

3:55 PM

Closing bell: Over 1,900 stocks advanced whereas 1,341 declined

3:50 PM

Closing bell: Lemon Tree Hotels, Blue Dart among stocks that hit 52-week high

3:47 PM

Closing bell: Apollo Hospitals, Hero Moto, Eicher Motors top Nifty 50 losers

3:46 PM

Closing bell: RIL, Bajaj Finserv, Sun Pharma top Nifty 50 gainers

3:42 PM

Closing bell: Broader markets upbeat; India Vix slips 2%

3:39 PM

Closing bell: IT stocks gain steam; Auto stocks bleed

3:35 PM

Closing bell: 9 out of 30 Sensex stocks close in negative zone

3:33 PM

Closing bell: Sensex gains over 400 points

3:32 PM

Closing bell: Nifty 50 closes above 16,600 levels

3:23 PM

Energy basket upbeat; Adani Green jumps over 4%

3:13 PM

Steel softens sharply on subdued demand outlook, rising iron ore output

Prices came down from its recent peak of around Rs 61,000 per tonne to around Rs 46,500-47,000 in the first week of June. READ HERE

3:04 PM

US equity futures gain steam, rise up to 0.7%

source: finance.yahoo.com

2:51 PM

DGCA fines Vistara Rs 10 lakh for letting untrained pilot land flight

The Vistara pilot, who was the first officer on the flight, landed the aircraft at the Indore airport without first getting the requisite training in a simulator. Read here

2:40 PM

India gorging on cheap Russian crude may lead to export sanctions

Imports of Russian crude by India hit a record high in May, and will likely rise again in June, according to data compiled by commodity analysts Kpler.

 

India imported 840,645 barrels per day (bpd) of Russian crude in May, up from 388,666 bpd in April and 136,774 bpd in May last year, Kpler data showed. READ MORE

2:25 PM

COVID-19 UPDATE

2:19 PM

European markets tread firmly higher; FTSE bucks upbeat trend

source: finance.yahoo.com

2:06 PM

Strength in IT, PSBs, Metals lift benchmarks to day's high

 

1:55 PM

TECH VIEW ON CRYPTO: Bitcoin needs to top $40K level for any significant upside

Bitcoin corrected by nearly 6% on Wednesday dropping below the $30K level once again.

BTC had made minor recovery in the last couple of days rallying above $32K but the momentum did not last long as the Dollar index regained some lost ground.

The daily trend for Bitcoin continues to traverse within a descending triangle pattern.

The next resistance for BTC is expected at $40,000 and an immediate support is expected at $26,800.

Bitcoin needs to break past the $40K level to witness any significant upward rally.

Until then BTC may continue to consolidate between the $28K to $40K.

 

Football Fan tokens have continued to gain popularity with football club FC Lazio’s fan token gaining over 20% in the last 24 hours and outperforming the overall crypto markets.

Source: WazirX Trade Desk

1:45 PM

Bank credit to NBFCs increases 10% to Rs 10.5 trn in FY22: Report

Bank credit to NBFCs grew in double digit in FY22 with outstanding bank credit to them rising by 10.4 per cent to Rs 10.5 trillion on the back of improvement in overall economic activities. READ MORE

1:38 PM

BSE Sensex 30 Heatmap:: Reliance shines, HUL, HDFC twins whine

1:30 PM

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

Greaves Cotton has tumbled almost 10 per cent from its intra-day high so far. Similarly, Bank of Maharashtra, Apollo Hospitals, CreditAccess Gramin and Delta Corp are some of the other stocks to have also lost significant ground from their respective highs' of the day.

1:23 PM

Delhivery hits highest level since listing; stock up 20% over issue price

While announcing its Q4FY22 results, Delhivery said that majority of the investments made by the company in FY22 were towards capacity and capability building in the form of capex. READ MORE

1:15 PM

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

Fine Organic has zoomed over 15 per cent from the lows of the day so far. Similarly, Suzlon Energy, Adani Green, GE Shipping and Responsive Industries have logged smart gains from their respective lows of the day.

1:08 PM

Mittals looking to raise $2 bn to buy portion of Singtel stake in Airtel

As per a media report, Mittals are in talks with some major banks like BNP Paribas, Bank of America, Citibank, JPMorgan, and Standard Chartered to raise over $2 billion. READ MORE

1:03 PM

BSE 500:: Volume Shockers

Anupam Rasayan has witnessed unusally high volume of 1.22 lakh shares so far on the BSE as agaisnt its five-day average volume of 7,300-odd shares. KEI Industries, Tata Motors-DVR, Kaveri Seeds and Bandhan Bank too have witnessed unusually high volume in trades so far on Thursday.

 

12:57 PM

Life Insurance Corporation: This elephant can't dance, says Emkay Global

Emkay Global Financial Services, a leading domestic brokerage has initiated coverage on the stock with a 'hold' rating with a target price of Rs 875. READ MORE

Photo: Bloomberg

12:51 PM

Thematic returns score over pure equity funds in past year, shows data

Even as pure equity funds have borne the brunt of sharp correction in markets, sectoral funds have managed to give double-digit returns over a one-year period. Returns of thematic funds, such as public sector undertaking (PSU), infrastructure, consumption, and information technology (IT), fare well, compared to the large-cap fund category. READ MORE