Sensex falls 865pts from day's high, ends flat; RIL dips 2%, IT stocks gain

CLOSING BELL: Around 3:30 PM, the mega IPO of Life Insurance Corporation (LIC) was subscribed 91 per cent with policyholders' quota seeing a subscription of 2.79 times

4:11 PM

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

The benchmark Nifty failed to give any decisive move as it remained within the previous day's range. On the daily chart, Nifty has formed an inside-day bar , suggesting indecisiveness. The daily RSI is in bearish crossover. The trend remains weak; at the lower end, support is seen at 16600, whereas resistance is visible at 16950-17000.

4:04 PM

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

The fear of an aggressive rate hike by the Fed was the prime reason for global volatility during the past few days. Fed’s decision to remain less hawkish with a 50bps rate hike downplayed the investor’s worries, helping the global markets to rally. However, the domestic market trimmed its gains towards the end of the day following a sell-off in US futures.

3:55 PM

Closing bell: Over 1,800 stocks declined whereas 1,525 declined

3:51 PM

Closing bell: IndusInd Bank, Britannia, Sun Pharma top Nifty 50 losers

3:49 PM

Closing bell: Tech Mahindra, Hero Moto, Infosys top Nifty 50 gainers

3:45 PM

Closing bell: Midcaps outshine Smallcaps; India Vix slips below 7%

3:42 PM

Closing bell: Nifty Realty worst sectoral performer

3:40 PM

Closing bell: Nifty IT best sectoral performer

3:37 PM

Closing bell: Sectors swing between gains and losses

3:34 PM

Closing bell: 14 out of 30 Sensex stocks close in positive zone

3:33 PM

Closing bell: Nifty 50 flat above 16,650 levels

3:32 PM

Closing bell: Sensex closes flat above 55,700

3:20 PM

Former ONGC chairman Shashi Shanker joins Adani Total Gas Ltd board

Shanker, who superannuated as the head of India's largest oil and gas producer on March 31, 2021, was appointed to the board of ATGL on May 4. READ MORE HERE

3:15 PM

BOB, ICICI Bank hike retail loans rates by 40 bps on RBI's action

Public sector lender Bank of Baroda (BoB) has raised lending rate on loans including home and car by 40 basis points after Reserve Bank of India hiked the policy repo rate by 40 basis points to 4.4 per cent. READ MORE HERE

3:10 PM

ArcelorMittal Nippon Steel India clocks 16.62% increase in EBITDA

Globally, ArcelorMittal delivered a strong set of numbers despite inflationary pressures and the Ukraine war. READ MORE HERE

2:57 PM

L&T Construction to build part of Mumbai-Ahmedabad bullet train track

L&T on Thursday said its construction arm has won a large contract for the bullet train project. L&T Construction has bagged the project from National High-Speed Rail Corporation Ltd (NHSRCL). Read more

2:47 PM

Central Bank of India to close 600 branches by March 2023, says report

The bank is looking to reduce the number of branches by 600 by either shutting down or merging loss-making branches by the end of March 2023. Read here

2:34 PM

MARKET CHECK: Sensex fizzles out gains; down 780 pts from highs

 

2:24 PM

Future Retails slips 5% for 8th straight trading day; stock hits new low

CARE Ratings has moved ratings of the company's instruments and facilities to "issuer not cooperating" category. Read here

 

 

2:15 PM

European markets hold firm gains in early deals

source: finance.yahoo.com

2:07 PM

LIC IPO offer subscribed 86% as of 2PM on day 2

Policyholder and employee categories subscribed 2.6 and 1.8 times, respectively. 

1:55 PM

US futures extend day's losses; Dow down 100 pts

source: finance.yahoo.com

1:45 PM

Half a dozen IPOs in May after LIC; Rs 28,960-crore projected mop-up

At least half a dozen companies, besides Life Insurance Corporation (LIC) of India, are looking to raise Rs 7,960 crore through their initial public offerings (IPOs) this month. The Rs 21,000-crore IPO of LIC opened on Wednesday. Total funds raised could reach Rs 28,960 crore, making May the best month for IPO fund-raising after November 2021. Read here

Illustration: Ajay Mohanty

1:35 PM

BSE Sensex 30 Heatmap:: IT stocks shine

1:27 PM

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

EIH has tumbled more than 8 per cent from its high of the day. Godrej Properties, Info Edge, MRPL and MAS Financial Services too pared more than 5 per cent each from their respective highs.

1:22 PM

NEWS ALERT :: AUMs of ETFs, Index Funds tracking Nifty50 cross Rs 2 trillion

>> Assets Under Management (AUM) of all the Exchange Traded Funds and Index Funds tracking Nifty50 Index have crossed Rs 2 lakh crore.

>> Indian ETFs industry also registered a record fund inflows of Rs 1.28 lakh crore in 2021-22.

>> Nifty50 index linked ETFs account for 40 per cent share of total AUM of ETFs and Index Funds in India.

Source: NSE Press Release

1:21 PM

IT stock log smart gains, led by Infosys, Tech Mahindra

Infosys and Tech Mahindra rallied around 3 per cent each. L&T Technology and HCL Technologies were the other major gaibers among the IT stocks.

1:09 PM

RBI hikes repo rate by 40 bps: Analysts see muted impact on banks' NIM, PAT

Non-bank finance companies (NBFCs), however, may feel more heat, except those engaged in mortgage financing. READ MORE

 

1:00 PM

Asian Markets Update:: A mixed day

Source: Yahoo Finance

12:49 PM

BSE 500:: Volume Shockers

Varun Beverages and ABB India have witnessed an over 1,200 per cent jump in volume compared to their respective last five-day average volume. ITDC, Rain Industries and Vardhman Textile were some of the other prominent stocks to witness unusually high volume in trades so far.