Investors lose Rs 1.2 trillion as Sensex drops 587 pts amid global sell-off

Sectorally, the Nifty Bank index declined over 2 per cent, led by losses in HDFC Bank (down over 3 per cent)

3:50 PM

Tech View :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index opened a day with sharp cuts but managed to reduce some losses at the end of the day and closed a day at 15752 with loss of one percent & formed inverted hammer sort of candle pattern on the daily chart. Index again backed in its consolidation area of 15600-16000 zone which hints we may see some more sideways moment going forwards, the index reached to its demand zone of 15700-15600 zone if managed to hold said levels again we may see some swift pullback towards 15800-15900 zone which are immediate hurdle on the higher side.

3:50 PM

MARKET CLOSING COMMENTS :: Vinod Nair, Head Of Research at Geojit Financial Services

Shadowing global sell-off, Indian indices slipped succumbing to world inflation woes, FOMC meeting next week and rising covid cases. Banks led the domestic downtrend as initial quarterly results pointed to cautious asset quality due to the impact of the second wave. Slackening economic growth in the US-led to reports of likely downgrade in growth forecast in current year triggering global sell-off.

3:49 PM

HDFC Bank declines over 3% on lower-than-expected Q1 show

3:49 PM

Vodafone Idea slips 3% post AGR hearing

3:48 PM

Investors book profit in Clean Science; stock ends 9% lower as against listing price

> The scrip, however, was up 75% as against its issue price

3:46 PM

GR Infraprojects ends 109% higher over its issue price on listing day

3:39 PM

Adani stocks tank up to 4% as Sebi probes Group

> India's securities regulator and customs authorities are investigating some Adani Group companies for non-compliance of rules, India's junior finance minister told parliament on Monday.

3:37 PM

Broader markets marginally outperform benchmark

3:35 PM

Sector Watch :: Barring Nifty Pharma, Nifty Realty, all sectoral indices end in the red

3:35 PM

Sensex heatmap at close

3:34 PM

CLOSING BELL :: Sensex, Nifty tank over 1% each

BSE Sensex declined 587 points or 1.10% to 52,553. Its NSE counterpart Nifty settled at 15,752, down 171 points or 1.07%. 

 

3:11 PM

Datamatics Global hits 20% upper circuit, zooms 65% in three days

In the past three trading days, the stock of the information technology (IT) software products company has surged 65 per cent. The company in a filing has clarified that significant movement in the share price/ volume behaviour of the scrip is purely due to market conditions and are market-driven.

 

The company further said that there is a significant increase in movement in the share price/volume of mid-cap information technology-enabled services (ITeS) companies in the last few days. READ MORE

3:04 PM

AGR Hearing

SG Tushar Mehta for DoT to SC

Have no instructions from DoT, Can take instructions, if calculation errors can be corrected

 

May be hazardous for me to make statement without instructions from DoT. Please allow 2 days’ time to clarify

2:54 PM

AGR Hearing

Vodafone Idea to SC

- We are not a fly-by-night operator, let DoT see the calculation errors

- If DoT agrees with our clarifications, we may get some rebate

 

Bharti Airtel to SC

Fully compliant with the order, but can't be asked to pay due to errors

 

2:53 PM

AGR Hearing

> SC Observes we are only looking at the bar on recalculation imposed by previous SC orders

2:52 PM

AGR Hearing

SC Observes
SC said not once or twice but thrice that AGR amount cannot be recalculated

Tata Tele to SC

SC has not barred rectification of calculative errors

 

2:44 PM

MARKET CHECK

2:37 PM

IPO Update :: Tatva Chintan Pharma Chem subscribed 10.5x

Source: BSE

2:23 PM

Q1 earnings: HDFC Life

> Q1FY22 PAT at Rs 302 cr vs Rs 451 crore in Q1FY21; down 33% 

 

> Q1FY22 AUM at Rs 1,81,272 cr vs Rs 1,39,975 cr in Q1FY21, up 30%

2:13 PM

Adani Group in focus

MoS Finance says--

>> SEBI investigating some Adani Group companies with regard to compliance with #SEBI regulations.

 

>> Enforcement directorate is not carrying out any investigation into Adani Group.

 

>> Holding of FPIs in Adani Grp cos based on day to day trading of shares

2:02 PM

Adani Group stocks decline

2:00 PM

DCM Shriram defies market mood, hits new high; stock up 65% in a month

In the past one month, the stock of DCM Shriram has zoomed 65 per cent, as against a 0.20 per cent rise in the Sensex. The company reduced its net debt to Rs 180 crore as on March 31, 2021, from Rs 1,623 crore as on March 31, 2020. The reduction in debt was led by lower sugar inventory and significantly lower fertiliser subsidy outstanding. A judicious approach to capex and working capital across businesses also led to lower net debt. READ MORE

1:55 PM

Q1 Earnings :: India Bank (Standalone)

> Net interest income at Rs 3994 crore vs Rs 3874 crore in Q1FY21

 

> Net Profit at Rs 1181 crore vs Rs 369 crore

 

> GNPA at 9.69% vs 10.90% in Q1FY21

1:49 PM

India VIX spikes over 9%

VIX, indicator of market volatility jumped 9.26% to 12.79

1:32 PM

NEWS ALERT :: M&M to inspect & replace diesel engines in some vehicles manufactured at Nashik unit

>> M&M to inspect & replace diesel engines in some vehicles manufactured at Nashik unit from June 21-July 2, 2021 for suspicion of premature wear of engine parts due to contaminated fuel received on a particular date.

>> Co says this is a limited batch of less than 600 vehicles.

Source: BSE filing

1:22 PM

Siddhartha Khemka, Head - Retail Research, MOFSL on Clean Science listing

Green chemicals demand is expected to grow at 10.5% CAGR (F&S report) globally over CY19-25E and CSTL has built well diversified product portfolio in this space to capitalize on this opportunity. We like Clean Science given its global leadership in green chemicals, diversified product portfolio, robust financials with industry leading margins/return ratios and strong focus on ESG front. We expect the stock to do well post listing given the huge response in IPO, robust financials and strong demand for cos in clean chemistry.

1:09 PM

MARKET UPDATE :: Sensex tanks over 650 points, hits day's low

1:06 PM

After a 'Whopper' debut, analysts see this QSR stock as a multibagger

"Burger King will enjoy an attractive opportunity for both topline and margin expansion, led by a big shift in its business model through the introduction of 'barbell' product strategy and BK Café. In addition, aggressive store network expansion and capped royalty rate will also be key drivers of EPS growth," the brokerage said in its coverage initiation report. It assigned a BUY call on Burger King with a one-year target price of Rs 210. READ MORE

1:05 PM

Mid-market view

We witnessed some lackluster movement in the market and an attempt to hold the support level around the Nifty 50 Index level of 15800. While sustaining above 15800 is the key factor from a short-term perspective, our research suggests maintaining above this level is important for the market to gain momentum and extend the rally until 15920-15950.

-- Gaurav Garg, Head of  Research, CapitalVia Global Research

12:49 PM

NEWS ALERT :: SAT reserves its order in PNB Housing-SEBI case related to the Carlyle deal

Source: TV reports