RIL, banks lift Sensex 246 pts, Nifty tops 16,300; Rupee ends at 79.95/$

CLOSING BELL: The steady depreciation in the value of the rupee against the US dollar is likely to prove expensive for corporate India

4:05 PM

Nifty tech view: Sustaining above major moving averages hints at bullish trend

Nifty remained strong during the session as it moved above the previous swing high on the daily timeframe.

A higher top higher bottom formation is visible on the daily timeframe.

Besides, the Nifty has sustained above its major moving average suggesting a bullish trend.

Over the short term, the index may remain positive as long as it sustains above 16100 with a potential to reach 16450-16500 over the short term.

Views by Rupak De, Senior Technical Analyst at LKP Securities

4:03 PM

Closing view: Immediate impact of global slowdown to be milder back home

Domestic indices witnessed bouts of volatility amid weakness in global markets, IT and Pharma sectors.

But it was well countered by recovery in banking, auto and metal stocks. Developed markets traded negatively due to slow hiring plans announced by blue chips MNC like Apple Inc. in anticipation of global economic slowdown.

However, due to the Indian economy’s strong fundamentals, we believe that the immediate impact of the slowdown in the domestic economy will be milder than of global peers.

Views by Vinod Nair, Head of Research at Geojit Financial Services.

4:00 PM

Tube Investment soars 12% as arm acquires majority stake in EV startup for Rs 246 cr

 

3:57 PM

Mangalore Chemical slips 2%; co shuts down DAP unit due to raw material shortage

 

 

3:55 PM

Steel Strips sinks over 2%; co posts Q1 PAT of Rs 48 crores vs 51 cr year ago

 

3:52 PM

Sterlite Tech moves 1% up on winning Rs 250 cr deal for telecom optical network

 

3:49 PM

Mastek gains 2% ; Ashish Kacholia reportedly cut stake to 1.8% in Q1

 

 

3:47 PM

PSBs, metals, auto lead sectoral gainers; pharma, energy packs end weak

 

3:44 PM

Broader markets gain more; SmallCaps outshine

 

3:43 PM

Nifty losers: ONGC leads pack, slips 3% as govt mulls windfall tax on gas cos too

 

3:41 PM

Nifty gainers: Apollo Hospitals, IndusInd Bank, Tata Steel additional winners

 

3:40 PM

Sensex Heatmap: 12 of 30 stocks close lower; Axis Bank, M&M lead gains

 

3:39 PM

Closing Bell: Nifty climbs 150 pt from day's low; ends above 16,300

 

3:37 PM

Closing Bell: Sensex manages to pull gains in choppy session; ends higher for 3rd day

 

3:31 PM

Euro rallies after report that bigger ECB rate hike is on the cards

The euro rose to as high as $1.0254, up 1.1% on the day and its strongest since July 6 as money markets priced in a 60% chance of a 50 basis point hike on Thursday, up from 25% on Monday. Read more

3:24 PM

Reliance Jio adds over 3.1 mn mobile subscribers in May: TRAI data

Reliance Jio cemented its lead in the Indian telecom market as it gained over 31 lakh mobile subscribers in May, as per data released by the sector regulator on Tuesday. Read here

3:15 PM

US markets look to reverse losses on Tuesday; earnings to guide sentiment

 

3:02 PM

Media stocks under pressure; TV18, Dish TV shed 2%

2:55 PM

Delhivery hits highest level since listing, stock surges 36% in one month

Shares of Delhivery surged 7 per cent to Rs 635 on the BSE in Tuesday's intraday trade on healthy business growth outlook. READ MORE

2:51 PM

European markets mixed in trade

2:45 PM

DLF aims to double retail presence in 4-5 yrs, build new malls: Chairman

Realty major DLF Chairman Rajiv Singh has said the company has initiated the development of new shopping malls and looks to double retail portfolio in next five years. READ MORE

2:38 PM

Realty stocks steamy in trade; Prestige Estates soars over 6%

2:30 PM

ALERT :: Issued show cause notices to EV cos involved in recent fires, Ministry Of Heavy Industries tells Parl

2:27 PM

HDFC Life slips 1% after net profit surges 21% YoY in Q1

2:21 PM

Currency Outlook :: 'Rupee-dollar exchange rate expected to hover in 78.50 to 81 band till September'

We do see some more pain for the domestic currency in the near term, but it is likely to remain cushioned by the 81 mark amid a host of factors. For one, the strength in the dollar index seems unsustainable at higher levels, with expectations that the European Central Bank and other developed market central banks will also hike interest rates aggressively.

Besides, the US central bank might be forced to pause its rate hike cycle going forward given the concerns about recessionary risks and it seems that the worst is likely to be over soon.

Secondly, the RBI and the government have recently taken several measures which might stem the fall in the rupee. The rupee-dollar exchange rate is expected to hover in the 78.50 to 81 band till September.

Views by: Sugandha Sachdeva, Vice President - Commodity and Currency Research, Religare Broking 

2:14 PM

Stock of this consulting services company has zoomed 594% thus far in 2022

Shares of Gensol Engineering were locked at 5 per cent upper circuit band for a third straight day on Tuesday, at Rs 752.10. This was also its fresh life-time high. In the past one month, the stock has surged 59 per cent, as compared to 6 per cent rise in the S&P BSE Sensex. READ MORE

2:07 PM

Global Check:: US stock futures marginally in green

Source: Investing.com

1:58 PM

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

Jindal Stainless Hisar has tumbled over 12 per cent from its high of the day so far. Similarly, Dr. Lal Pathlabs, KSB, CreditAcess Gramin and Grindwell Norton were some of the other prominent stocks to lose notable ground from the highs of the day so far on Tuesday.

1:52 PM

Russia defaults on LNG supplies to India due to retaliatory sanctions

Russia has defaulted on the supply of at least 5 cargoes or shiploads of LNG to India after its retaliatory sanctions hit one of the companies that supply gas to India, sources said. READ MORE

1:51 PM

ALERT :: ECB may consider raising interest rates on Thursday by 50 bps