Sensex snaps 4-day losing run, rises 428 pts; Nifty holds 16,450; RIL up 3%

CLOSING BELL: Dr Reddy's Labs, Reliance Industries, Bharti Airtel, Sun Pharma, Tech M, and Infosys were the top large-cap gainers

4:12 PM

Nifty tech view: Index moving above 16,400 suggests bullishness

Nifty has formed a bullish engulfing pattern at the end of a volatile trading session.

Besides, the Nifty has moved back above 16400, which suggests bullishness.

The daily RSI is in bullish crossover and rising. Over the near term, the trend may remain positive as long as it remains above 16400.

On the higher end, resistance is visible at 16600/16800.

Views by Rupak De, Senior Technical Analyst at LKP Securities
 

4:10 PM

Closing view: Investors weighing impact of upcoming global central bank meetings

The market continued to be dominated by a volatile global market with investors weighing the impact of the upcoming global central bank meetings.

However, the domestic market reversed its losses during the closing hours due to positive movements in the US futures.

FIIs are cautious ahead of the Fed policy even though the market may have factored-in an interest rate hike of 50bps, due to risk of hawkish measures.

Views by Vinod Nair, Head of Research at Geojit Financial Services.

4:08 PM

Closing view: Refinery stocks came under pressure after strong upmoves in last few wks

The Street displayed caution ahead of the FOMC meet despite known outcomes as supply chain disruptions and rising inflation continue to exert pressure.

Fears of a slowdown in GOI CAPEX spend in the wake of rising subsidies despite the buoyancy in tax collections kept the street circumspect.

While Indices stayed buoyant rising by almost a percentage led by a surge in the Energy Index, the broader markets witnessed profit booking in refinery stocks after a strong up-move since the last few weeks.

Domestic flows over the last many months have been structurally positive even as foreign outflows continue unabated.

Views by S Ranganathan, Head of Research at LKP securities.

4:03 PM

Metal stocks slump on reports China reinforces lockdown in Shanghai

 

4:02 PM

UPL moves 1.5% up on launching Flupyrimin insectisides for rice yields

 

3:58 PM

Havells India gains 2% after 3.5 lakh shares exchange hands in multiple deals

 

3:56 PM

BSE energy index closes 2% up on soaring prices of crude, natural gas

 

3:54 PM

Rupee closes at record low of Rs 77.77 per dollar

Rupee had hit an all-time low of Rs 77.80 a dollar in trade today.

 

3:50 PM

Bliss GVS Pharma adds over 2% as promoter buys 0.24% stake

As per reports, the company's promoter  acquired 2.5 lak shares or 0.24% on June 6 via open market. 

 

 

3:47 PM

Buzzing stocks: Aditya Birla Fashion ends firmly up as CRISIL upgrades rating

Aditya Birla Fashion and Retail's rating outlook revised to 'Positive' by Crisil.

 

3:44 PM

Sectoral trends: IT reverse losses; oil & gas, pharma packs lead gains

 

3:42 PM

Broader markets also break losing streak; end with leaner gains vs Sensex

 

3:40 PM

Nifty top 5 gainers: Reliance, BPCL winners on soaring crude; auto lends support

 

3:38 PM

Nifty top 5 losers: Tata Steel slumps 4%; cement majors also drag

 

3:37 PM

Sensex Heatmap: 21 stocks end in green; RIL, Dr Reddy's lead

 

3:34 PM

Closing Bell: Nifty ends holding 16,450-mark; 38 stocks close higher

 

3:33 PM

Closing Bell: Markets snap-4 day losing run, Sensex gains 428 points

 

3:30 PM

CIL issues import tender for 2.4MT of coal, identifies 26 beneficiaries

Last month, the Ministry of Power directed Coal India to import coal for state and private gencos. Read here

3:28 PM

ALERT :: Benchmarks zoom to day's high as VIX cools off 4%

3:24 PM

EXCLUSIVE :: Q&A with State Bank of India Chairman Dinesh Kumar Khara

3:20 PM

Take Two :: Business Standard's Tamal Bandyopadhyay dissects RBI's rate decision

3:14 PM

Top BSE gainers at this hour

3:05 PM

CAD will be sustainable, can be financed by normal capital inflows: RBI Guv

The CAD was $9.9 billion (1.3 per cent of GDP) in the second quarter ended September 2021(Q2FY22) and $2.2 billion (0.3 per cent of GDP) a year ago (Q3FY21).

 

With global crude oil prices surging above $100/bbl – first time after 2014 – there are concerns that the CAD could widen beyond sustainable levels. READ MORE

2:58 PM

RBI policy effect: Loans to get more expensive as banks hike lending rates

ICICI Bank, Bank of Baroda, RBL Bank, and Federal Bank have factored in the increase in repo rate by RBI yesterday and hiked their benchmark rate linked loan rates. READ HERE

2:49 PM

MARKET CHECK: Sensex extends gain to 300 points

2:45 PM

PSUs in strategic sectors must scale up, boost efficiency: Sitharaman

Sitharaman said PSUs must derive maximum benefit from newer tech to scale up efficiencies in the next 25 yrs to go global and set a fresh benchmark for PSEs anywhere in the world. READ HERE

2:41 PM

European markets down ahead of ECB's rate decision

2:36 PM

Welspun ropes Tata Steel to develop 'framework' for hydrogen transportation

Welspun Corp Ltd (WCL) has partnered with Tata Steel to develop the "framework for and subsequently manufacturing" pipes for transportation of pure hydrogen and natural gas-blended hydrogen. READ HERE

2:30 PM

Metal stocks bleed; Tata Steel, Vedanta shed over 3%

2:23 PM

Apollo, Reliance Industries consortium said to make binding bid for Boots

The bid for the Boots business is fully backed by committed financing, the people said, asking not to be identified because the information is private. READ HERE