Sensex tanks 709 pts from day's high, ends 311 pts down; Nifty holds 17,500

F&O Expiry: 25 of the 30 Sensex constituents and 34 of the 50 Nifty constituents ended in the negative territory including Adani Ports, Bajaj Finance, IndusInd Bank, Infosys, TCS, Axis Bank, and HDFC

3:56 PM

Expert view: Consistent FII support is guiding the market mood

"Ahead of the Jackson Hole symposium, investors across the world are eagerly expecting the Fed chair's speech to evaluate the outlook for monetary policy and determine whether the central bank can achieve a soft landing for the economy. Crude prices rose as Saudi Arabia suggested that OPEC+ supply may be reduced to address market instability. Although Indian equities are trading at a premium over other emerging markets, the consistent support from FIIs is guiding the domestic market."

 

- Vinod Nair, Head of Research at Geojit Financial Services
 

3:55 PM

Tech view: Bearish reversal likely; Nifty may slide to 17,350 or lower

"The Nifty formed an engulfing pattern after two days of positive move setting a stage for a bearish reversal. The momentum indicator RSI is also pointing toward a negative momentum in the near term. On the lower end, 17,480 is likely to act as initial support; a fall below 17,480 may take the index towards 17,350. Below 17,350 the Nifty may drift down towards 17,000-16,950. On the higher end, resistance is visible at 17,700."

 

- Rupak De, Senior Technical Analyst at LKP Securities
 

3:54 PM

Primary Market Update:: DreamFolks Services IPO subscribed over 5x so far on Day 2

The retail portion was subscribed up to 17.16 times, while the HNIs segment received bids of 5.84 times as of 3:45 PM on Day 2 of the offer period. Here's what the grep market premium indicates. READ MORE

3:48 PM

NDTV hit the second straight upper limit today, stock has delivered over 150% returns in 3 months

Shares of NDTV were locked at the 5 per cent upper circuit for the second straight day, hitting a 14-year high at Rs 403.70 on the BSE on Thursday and rallied 156 per cent in past three months. Prominent investor, Dolly Khanna held 645,276 equity shares or 1 per cent stake in NDTV at the end of June 2022 quarter. READ MORE

3:46 PM

Thermax rallies 9% in 2 days; hits new high on strong order book position

Thermax has a strong order book across diverse sectors, including refineries, steel, power, and chemicals. READ MORE

3:45 PM

PSP Projects gained 3% as company bags new orders worth Rs 247 crore

With receipt of the current order, the total order inflow for the financial year 2022-23 till date amounts to Rs 1,344.24 crore, the civil construction company said in exchange filing. READ MORE

3:43 PM

Bank Nifty view: Bank Nifty near support seen at 38,500 - 38,400

"The Bank index witnessed selling pressure from higher levels and failed to surpass the hurdle of 39,500 on the upside. The immediate downside support stands at the 38,500-38,400 zone and if breached will lead to further selling pressure on the downside. The index needs to break the range of 38,500-39,500 for decisive trending moves on either side."

- Kunal Shah, Senior Technical Analyst at LKP Securities 

 

3:41 PM

Nifty PSU Bank index soars 2.7%; Realty jumps 1.7%

3:40 PM

Sectorally, Nifty IT, Metal and Healthcare indices were the major losers

3:38 PM

Broader markets outperforms; India VIX jumps over 6%

3:37 PM

Nifty 50:: Top FIVE gainers and losers on Thursday

3:36 PM

Sensex 30 Heatmap:: 25 Losers v/s 5 Gainers; Bajaj Finance, IT shares weigh

3:34 PM

NSE Nifty 50 shed 82 points, settled at 17,522

3:32 PM

Closing Bell:: S&P BSE Sensex ended 311 points lower at 58,775 owing to a late sell-off

3:24 PM

BSE 500:: Volume Shockers

Sapphire Foods has witnessed unusually high volume of around 3.95 lakh shares on the BSE so far as against its five-day average volume of around 5,750-odd shares. Similarly, Cochin Shipyard, Crompton Greaves Consumer, BHEL and L&T Finance Holdings witnessed a significant spike in volume on Thursday.

3:17 PM

Gold hits one-week high as dollar dips; Jackson Hole symposium in focus

Investors across financial markets are bracing for the U.S. central bank to reiterate its commitment to tame inflation or signal a "pivot" to subdued interest rate hikes. Powell will address the annual global central banking conference at Jackson Hole on Friday. READ MORE

3:10 PM

Sensex 30 Heatmap:: Bajaj Finance, Infosys, TCS top losers

3:02 PM

Market Check:: Sharp sell-off drags Sensex into red; down over 550 pts from day's high

2:56 PM

Overall sown area of Kharif crop declines by 2.5%: Bank of Baroda report

"Overall sown area of Kharif crops continues to lag and has declined by 2.5 per cent compared to last year. Sown area of rice (8.3 per cent) and pulses (5.3 per cent) is much lower, in comparison with last year and needs to be watched," the report notes. READ MORE

2:47 PM

Global Check:: US, UK stock futures up over 0.5% each

Source: Investing.com

2:38 PM

DreamFolks Services IPO: Grey market premium jumps 15% on strong demand

In the grey market, shares of Dreamfolks Services were trading at Rs 75 per share, which implies listing at Rs 401 per share against the upper price band of issue price. READ MORE

2:29 PM

Top traded stocks on NSE so far:: Voda Idea, RBL Bank, BHEL log hefty volume

2:21 PM

Improving margins signal capital goods cycle in early stages of revival

Signs of renewed capex and improving margins; high inflation, supply-chain disruptions and black-swan events among risks. READ ANALYSIS

2:13 PM

Top gainers among Bank Nifty:: PNB soars over 6%, Bank of Baroda 3%

2:04 PM

After 16% jump in 3 months, analysts see more upside in Nifty PSB index

Among individual shares, Bank of Baroda, Canara Bank, State Bank of India, Indian Bank, and Union Bank of India soared between 11 per cent and 29 per cent during the period. READ MORE

1:56 PM

Market Check:: Nifty PSU Bank index soars 3.7%; Realty, Consumer Durables also shine

1:48 PM

Realty firm Omaxe to invest Rs 2,100 crore to build sports, retail complex

The total investment is estimated at about Rs 2,100 crore, of which Rs 1,300 -1,400 crore will be on sports complex and the rest on retail area. READ MORE

1:38 PM

BSE 500:: Top losers so far

Brightcomp Group was down 5 per cent and was the top loser among the BSE 500 stocks so far on Thursday. It was followed by Suzlon Energy, Coromandel International, eClerx Services and JK Paper, down over 2 per cent each.

1:29 PM

India's robust growth gives RBI room for more rate hikes, says DBS Group

India's strong growth offers room for the Reserve Bank of India to raise rates by another 60 basis points as the central bank seeks to stamp out high inflation, said DBS Group Research. READ MORE

1:20 PM

Primary Market Update:: DreamFolks Services IPO subscribed up to 3.6x so far on Day 2

The retail portion was subscribed up to 13.7 times, while the HNIs segment received bids of 3.6 times. Here's what brokerages recommend doing. READ MORE