Sensex gains for 2nd day, rises 632 pts; Nifty holds 16,350; IT stocks lead

CLOSING BELL: Apollo Hospitals, Tech M, HDFC Life, Hero MotoCorp, IndusInd Bank, Bajaj Finance, Wipro, Infosys, L&T, HUL, and Bajaj Finserv zoomed over 2.5 per cent on the Nifty

4:09 PM

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

Nifty remained strong as it sustained above 16200 throughout the day. Momentum oscillator, RSI is in bullish crossover and rising. Going forward, a decisive move above 16400 is likely to induce a rally towards 16700-16800. On the lower end, supports are visible at 16200/16000.

4:05 PM

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

Joining the global rally, the investors were in a buying mood following favourable retail earnings in the US. Receding FII selling also provided comfort to the domestic market in bringing down volatility. The RBI’s upcoming policy meeting will be a key factor in the market, where they are expected to announce an additional policy rate hike of 25-35bps.

4:00 PM

CURRENCY CHECK: Rupee closes 2 paise higher against US dollar

3:54 PM

Closing bell: Over 2,000 stocks advanced whereas 1,108 declined

3:50 PM

Closing bell: Muthoot Finance, Indigo Paints among stocks that hit 52-week low

3:46 PM

Closing bell: ONGC, NTPC, Power Grid top Nifty 50 laggards

3:44 PM

Closing bell: Apollo Hospitals, Tech Mahindra, HDFC Life top Nifty 50 gainers

3:38 PM

Closing bell: Broader markets shine; India Vix slips 5%

3:36 PM

Closing bell: Barring Nifty Metal, all sectors close in negative zone

3:34 PM

Closing bell: 8 out of 30 Sensex stocks close in red

3:32 PM

Closing bell: Sensex gains over 600 points

3:31 PM

Closing bell: Bulls charge Nifty 50 above 16,350 levels

3:25 PM

Agro-chemical stocks perk up in trade; Sharda Cropchem rise over 4%

3:18 PM

Energy basket down in a firm market; GAIL, ONGC slip over 5%

3:13 PM

SJS Enterprises gains 12% on healthy business outlook

SJS said this organic growth would be on back of positive outlook of the automobile industry and the company’s strategy of enhancing its chrome plating capacity, increasing presence in exports market and developing new age products and technologies while strengthening relations with existing customers and building mega accounts. READ MORE

3:02 PM

Ruchi Soya Q4 profit declines 25% to Rs 234.33 cr; income rises 37%

Edible oil major Ruchi Soya Industries Ltd reported a 25 per cent decline in its standalone net profit to Rs 234.33 crore for the March 2022 quarter. Read more

2:58 PM

Oil & Gas stocks sharply underperform markets; BSE index down 1%

 

2:52 PM

More Russian oil than ever before heading for China, India amid sanctions

Asia overtook Europe as the largest buyer for the first time last month, and that gap is set to widen in May. Read more

2:46 PM

India Cements posts net loss of Rs 10.6 cr in Q4FY22, revenue dips 4%

Coal prices also increased from $60 per tonne to $300 per tonne during the last one year adding to the pressure on the company. Read here

2:39 PM

Allcargo Logistics Q4 consolidated net profit jumps to Rs 247 crore

The company had posted a net profit of Rs 53.71 crore for the year-ago period, Allcargo Logistics said in a filing to BSE. Read here

2:30 PM

European markets move firmly higher in early trade

source: finance.yahoo.com

2:20 PM

Stocks that hit 52-week highs today

COMPANY	LATEST	52 WK HIGH	PREV HIGH	PREV DATE	VOLUME
Abhinav Capital	176.25	176.25	167.90	26-MAY-2022	184
Advance Petroch.	43.90	43.90	41.85	14-MAR-2022	100
Amalgamated Elec	54.70	54.70	52.10	26-MAY-2022	112
Ambar Protein	37.70	37.70	35.95	11-MAY-2022	100
Aris Interna.	20.90	20.90	19.95	05-MAY-2022	50
Aroma Ent.	23.50	23.50	23.40	04-MAR-2022	202

2:17 PM

RBI annual report: Some shadow banks a threat to financial stability

In its annual report, RBI said that some of these entities pose a potential threat to financial stability as their size has increased due to higher risk appetite. Read here

2:08 PM

March Quarter Result :: GAIL (India) reports profit of Rs 2,683 cr vs Rs 1,907 cr YoY

2:04 PM

Top BSE gainers at this hour

1:52 PM

New import policy to buoy paper stocks in medium-to-long term: Analysts

In an effort to curb illegal dumping of paper materials, the government has amended its import policy to compulsory registration under paper monitoring system (PIM).  READ MORE

1:40 PM

Sector check :: Near broad-based rally in the markets; IT shine, metals weak

1:31 PM

MARKET CHECK :: Sensex zooms to day's high

1:21 PM

Structural reforms essential for sustained, balanced, inclusive growth: RBI

In its annual report, the Reserve Bank of India also stressed that the future path of growth would be conditioned by addressing supply-side bottlenecks, calibrating monetary policy to bring down inflation and boosting capital spending. READ MORE

1:08 PM

BPCL trades weak after Centre call off privatisation process

Based on the decision of the Alternative Mechanism on strategic disinvestment, which comprises Finance Minister Nirmala Sitharaman, Roads and Highways Minister Nitin Gadkari, and the head of the ministry concerned (in this case Petroleum Minister Hardeep Singh Puri), the privatisation of BPCL and the expressions of interest received from the bidders stand cancelled, the Department of Investment and Public Asset Management (DIPAM) said in a statement. READ MORE