F&O expiry: Sensex up 503 pts to end atop 54K; Nifty drops 6% in May series

CLOSING BELL: The S&P BSE Sensex traded in a broad range of 921 points on Thursday as it hit a high and low of 54,346 and 53,425, respectively

4:08 PM

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

Nifty ended higher on the back of recovery during the second half of the trading session. On the daily chart, Nifty has formed a hammer kind of pattern. Over the near term, the trend may remain positive as long as it stays above 16000 on a closing basis. On the higher end, resistance is visible at 16400.

4:05 PM

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

After the heavy sell-off market showed signs of exhaustion and could bounce for the short to medium-term. Technically, the broad market is in the oversold territory and fundamentally valuations are just below the three-year average. A key reason for the current correction is selling by FIIs and a reduction in domestic buying. A drop in FIIs selling will be an important reason for the bounce. For this, the actions to be undertaken by FED and RBI in June will be an important factor. Moreover, we should note that the fiscal measure announced by the Indian government to control inflation is positive for the domestic market.

4:00 PM

CURRENCY CHECK: Rupee closes 2 paise lower against US dollar

3:54 PM

Closing bell: Over 1,700 stocks advanced whereas 1,551 declined

3:49 PM

Closing bell: Chemical stocks abuzz in an upbeat market

3:45 PM

Closing bell: UPL, Divi's Lab, Sun Pharma top Nifty 50 laggards

3:42 PM

Closing bell: Tata Steel, Apollo Hospitals, JSW Steel top Nifty 50 leaders

3:40 PM

Closing bell: Nifty PSU Bank best sectoral performer

3:37 PM

Closing bell: Midcaps outperform Smallcaps; India Vix slips 10%

3:36 PM

Closing bell: Barring Nifty FMCG, all sectors in green

3:34 PM

Closing bell: Only 5 out of 30 Sensex stocks in negative territory

3:33 PM

Closing bell: Bulls power up Sensex over 500 points

3:31 PM

Commodity Alert :: Upside for Gold may be capped at $1930/oz

>> As per a report by Emkay Wealth Management, the upside level for gold may be capped at $1930/oz whereas 1760 and 1730 may act as key support levels for the yellow metal. Currently, gold price in international market is trading in range of $1800-1850.

 

>> While the surging inflation in the major economies of the world makes it an appropriate choice for some amount of value preservation, the strength in the US Dollar and the rising US rates are putting pressure on gold price.

3:31 PM

Closing bell: Nifty 50 closes above 16,200 levels

3:26 PM

Reliance Industries contributes Rs 1,185 cr towards CSR initiatives in FY22

The CSR initiatives were spearheaded by Reliance Foundation, the philanthropic arm of Reliance Industries, led by Founder and Chairperson of the foundation Nita M. Ambani. READ HERE

 

3:22 PM

ITC trades flat as stock turns ex-date for dividend of Rs 6.25 per share

ITC said the dividend will be paid between July 22, 2022 and July 26, 2022 to entitled members. READ MORE HERE

3:18 PM

Colgate gains over 2% on healthy Q4 results

3:16 PM

NEWS ALERT :: Moody's upgrades Bharti Airtel to Baa3, outlook stable

3:00 PM

Moody's slashes Indian economy growth forecast by 30 bps to 8.8% for 2022

In its update to Global Macro Outlook 2022-23, Moody's said high-frequency data suggests that the growth momentum from December quarter 2021 carried through into the first four months this year. Read here

2:49 PM

KPIT Technologies announces acquisition of UK-based SOMIT Solutions

The total value of the acquisition will be around GBP 7.68 million (around Rs 75 crore). Read more

 

2:40 PM

JUST IN: HCL Tech signs global digital transformation deal with VELUX Group

The company has signed an end-to-end IT services transformation agreement with the VELUX Group, the leading manufacturer of roof windows. Read here

 

2:31 PM

MidCaps lead broader market gains, up around 1%

 

2:21 PM

Balrampur Chini snaps 3-day losing streak; stock gains 5% on heavy volumes

Analysts believe that the government's curb on 10 metric ton sugar exports would not cause a major impact as their expectation was lower than the limit for this year. Read here

2:11 PM

Jet Airways staff association challenges resolution plan before NCLAT

All India Jet Airways' Officers and Staff Association on Thursday said it has filed an appeal before the NCLAT against Jalan-Kalrock consortium's resolution plan for the airline. Read more

1:59 PM

Global markets: European markets move higher in early trade

source: finance.yahoo.com

1:46 PM

FY22 GDP growth seen at 8.2-8.5%, Q4 to come at 2.7%: SBI Ecowrap report

SBI's research report Ecowrap, in its latest edition, projected India's GDP growth for FY22 to be at 8.2-8.5%. Read here

1:38 PM

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

Thyrocare Tech has zoomed over 10 per cent from the lows of the day. Jindal Stainless, JK Lakshmi Cement, MRPL and Ruchi Soya have rallied more than 8 per cent each from their respective lows so far.

1:32 PM

S&P BSE Sensex 30 Heatmap:: Tata Steel, HDFC twins top gainers

1:27 PM

Infosys hikes CEO Salil Parekh's salary by 88% to Rs 79.75 crore

For FY22 Infosys CEO Salil Parekh received a total remuneration of Rs 71.02 crore, up 43 per cent. This compensation included Rs 52.33 crore from restricted stock unit options. READ MORE

1:16 PM

Global Check:: US futures back in green

Source: Investing.com