HDFC twins, IT stocks drag Sensex 566pts down; Nifty holds 17800; PSBs zoom

CLOSING BELL: HDFC Bank, HDFC, and HDFC Life were the biggest laggards on the 50-pack index as they fell between 2.5 per cent and 3.5 per cent

4:13 PM

Rs 1.4-trn outflow, equity market sees worst sell-off by FPIs in FY22

Foreign portfolio investors dumped Indian shares worth record Rs 1.4 lakh crore in the financial year 2021-22, after pumping in whopping Rs 2.7 lakh crore in the preceding fiscal. READ MORE HERE

4:10 PM

Technical view: Rahul Sharma Director, Head- Technical & Derivatives Research, JM Financial Services

Nifty formed a dark cloud cover on the daily charts while Nifty Bank bore the brunt of the selling pressure. India VIX formed a bullish hammer candlestick pattern.Europe ended mixed while US markets closed lower with a considerable spike in S&P500 VIX. 
 

4:08 PM

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

The main indices are muted due to drop in HDFC group stocks after the rally, the subdued performance of IT sector in anticipation of weak results on a QoQ basis and weak global cues. The broad market has maintained its momentum due to the good performance of Mid & Small caps. We can expect volatility in the near-term ahead the RBI policy meet which is expected to hold the rates but increase inflation forecast.

4:05 PM

Indian Energy Exchange's trade volume jumps 38% in FY22

Indian Energy Exchange (IEX) clocked a 38 per cent growth in trade volume at 1,02,035 million units in financial year 2021-22. READ MORE HERE

4:03 PM

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

The benchmark index found resistance around the previous low before settling on a negative note. On the daily chart, the index has been moving within a rising channel where it has fallen to the lower band of the said channel. Going forward, immediate recovery from the current level is expected. However, failure to hold above the lower band of the rising channel may trigger selling pressure in the market. On the lower end, support is visible at 17750 below which the Nifty may drift down towards 17450 over the short term.

4:02 PM

Market view: S Ranganathan, Head of Research at LKP Securities

On a day when the HDFC Twins witnessed profit booking, several interesting trends were visible in trade despite benchmark indices losing almost a percentage in afternoon trade. Investors seem to put ESG on the back burner for a while when free cash flows and positive tailwinds emerge stronger. While Metal stocks saw keen interest supported by cooling coking coal prices, Power stocks were in high demand ahead of the surge in summer demand. The broader markets displayed buoyancy with advances outnumbering declines as PSU Banks, Sugar, Paper & Hospitality stocks were keenly sought after today.

3:57 PM

European markets edge lower in trade

3:56 PM

US equity futures trade on a negative note

3:53 PM

Over 1,200 stocks advanced whereas 814 declined in trade

3:50 PM

RBL Bank's gross advances up 3% at Rs 61,929 cr in FY22

Private sector lender RBL Bank on Wednesday said its gross advances grew by 3 per cent to Rs 61,929 crore in the last fiscal. READ MORE HERE

3:48 PM

Closing bell: Nifty PSU Bank ends as best sectoral performer

3:44 PM

Closing bell: HDFC Twins, HDFC Life, HCL Tech top Nifty 50 losers

3:43 PM

Closing bell: Coal India, NTPC, Tata Steel top Nifty 50 gainers

3:41 PM

Closing bell: Broader markets outperform benchmark; India Vix climbs above 2%

3:39 PM

Closing bell: Most sectors bleed; Metal, PSB stocks lend strength

3:37 PM

Closing bell: 10 out of 30 Sensex stocks close in positive territory

3:36 PM

Closing bell: Wobbly Wednesday! Nifty 50 closes below 17,900 levels

3:35 PM

Closing bell: Sensex closes lower by over 500 points

3:19 PM

Steel stocks shine; SAIL surges over 4%

3:10 PM

India home to 12 real estate billionaires; Rajiv Singh of DLF the richest

A large part of the rise in the fortunes of these realty barons is attributed to a rally in the real estate stocks at the bourses. For the year under review, the BSE Realty index gained 55 per cent. READ MORE HERE

2:54 PM

HDFC Bank, HDFC down for 2nd day in a row; dip up to 11% from Monday's high

Shares of banking giants HDFC Bank and mortgage lender Housing Development Corporation Limited (HDFC Ltd) traded lower for a second straight day, down up to 4 per cent in Wednesday's intra-day trade, on profit booking. Read more

2:45 PM

ITC moves beyond plastic neutrality; managed over 54,000 tonnes in FY22

Diversified entity, ITC Ltd on Wednesday said it is accelerating its move to go beyond plastic neutrality, having sustainably managed more than 54,000 tonnes of plastic waste across India in 2021-22. Read more

2:37 PM

ALERT: German FM says country to give up Russian oil & gas

2:29 PM

CCI probes debt trustee units of SBI, Axis, IDBI on suspected fee cartel

India's antitrust body is investigating the trustee units of State Bank of India, Axis Bank and IDBI Bank for suspected collusion on fees, triggering a lawsuit by a group representing them, documents seen by Reuters showed. Read it here

2:18 PM

Broader markets firm for second day; outperform benchmarks

 

2:10 PM

US 10-year bond yield rises to 2.618% as investors nervous on Fed official's comment

source: cnbc.com

2:03 PM

European markets start in red amid hawkish Fed & likely new sanctions on Russia

source: finance.yahoo.com

1:53 PM

IDFC likely to announce sale of mutual fund business today evening

IDFC Ltd is likely to announce the sale of its mutual fund business on Wednesday evening after the Board’s approval, sources aware of the development said. Read more 

1:43 PM

BSE 500:: Top Losers in the last one hour

JB Chemicals, Glaxo Pharma and Westlife Development were some of the prominent losers in the last one hour of trade.

 

1:32 PM

Amazon, Future dispute: SC lets arbitration resume over FRL merger

The Supreme Court on Wednesday ordered resumption of arbitral proceedings before the SIAC tribunal over Future Retail's merger deal to the tune of Rs 24,500 crore with Reliance Retail Ltd. READ MORE