Sensex falls 509 pts, Nifty near 16,850; RIL, ITC shed 3%, pharma stocks up

CLOSING BELL: Among sectors, the Nifty Metal, and PSU Bank indices dipped 2 per cent each, while the Nifty Pharma index gained 0.6 per cent

4:10 PM

MARKET COMMENT | Vinod Nair, Head of Research at Geojit Financial Services

Investors continue to be sceptical of the domestic market's higher premium amid the ongoing global deceleration while foreign investors are fleeing emerging economies in search of safer havens. Although the domestic economy is buoyed by solid fundamentals, the stock market's appetite for risk has been hindered by the rising worries of a worldwide recession. Domestic investors are turning to IT and pharma companies, which have been in a consolidation phase for the past year and are now gaining from the INR depreciation. The RBI policy meeting is currently underway, and the central bank is likely to raise repo rates by 35-50 basis points, however, the inflation outlook may soften in reaction to declining commodity prices.

4:06 PM

GLOBAL CHECK | European markets tepid on muted global cues

4:02 PM

GLOBAL CHECK | US equity futures fall in trade: Dow Futures down 150pts

3:58 PM

Hindalco, JSW Steel, Axis Bank top Nifty50 losers

3:54 PM

Asian Paints, Sun Pharma, Dr Reddy's top Nifty50 gainers

3:50 PM

Gland Pharma, Glenmark among stocks that hit 52-week low

3:47 PM

Cipla, Liberty Shoes among stocks that hit 52-week high

3:44 PM

Broader markets subdued in trade; India VIX gains 2%

3:41 PM

SECTORAL CHECK: Nifty PSU Bank ends as worst sectoral performer

3:33 PM

SENSEX HEATMAP: 11 out of 30 index constituents close in green

3:32 PM

CLOSING BELL: Bears takeover Dalal Street, Nifty50 closes below 16,850

3:31 PM

CLOSING BELL: Sensex closes lower by over 550 points

3:20 PM

Pharma industry says taking steps to check misuse of codeine drugs

Sales declining anyway and there is no need to ban because of alleged misuse, say experts. READ MORE

3:11 PM

PSBs lose steam in trade: PNB slips over 4%

3:02 PM

Electronics Mart India IPO to open on Oct 4; price band Rs 56-59/share

Consumer durables retail chain Electronics Mart India Ltd on Wednesday said it has fixed a price band of Rs 56-59 a share for its Rs 500 crore initial public offering (IPO). READ MORE

2:54 PM

Small savings rate may remain unchanged for Oct-Dec qtr despite RBI moves

The central government is unlikely to hike interest rates of small saving schemes for the October-December 2022 quarter, Business Standard has learnt. If this happens, it will be the 10th consecutive quarter of small savings rates remaining unchanged. READ MORE

2:47 PM

Market Check:: S&P BSE Sensex slips again, down nearly 400 points

2:42 PM

NEWS ALERT: Suzlon Energy Rs 1,200 rights issue to open on October 11

Suzlon Energy proposed Rs 1,200 crore rights issue will open on October 11. The stock was down 1.7 per cent in trades so far.

2:35 PM

HPCL-Mittal Energy to start 100,000-tpy bio-ethanol plant in 2023

India's HPCL-Mittal Energy Ltd will start up a bio-ethanol plant at its Bathinda refinery in northern India in 2023 as part of measures to reduce its carbon emissions, a company official said on Wednesday. READ MORE

2:27 PM

Asian Paints gains 3%, hits 8-month high on hopes of margin improvement

Shares of Asian Paints hit an eight-month high of Rs 3,559, gaining 3 per cent on the BSE in Wednesday's intra-day trade, outperforming the market. The stock price rose, even in a weak market, as falling raw material costs are expected to aid margin expansion for the paint maker. READ MORE

2:19 PM

Global Check:: US, UK stock futures down up to 2%

Source: Investing.com

2:10 PM

RBI MPC: Experts see a 50 bps hike, pressure on the real estate sector

In the upcoming Monetary Policy Committee (MPC) review, the Reserve Bank of India (RBI) is likely to go with a 50 basis point hike in the repo rate, experts told Business Standard. READ MORE

2:01 PM

BSE 500:: ITI, Syngene International, Chemplast Sanmar among volume shockers

ITI has witnessed unusually high volume of around 3.63 lakh shares on the BSE so far as against its five-day average volume of around 34,100 shares. Similarly, Syngene International, Chemplast Sanmar, Torrent Pharma and Aurobindo Pharma also witnessed a significant spike in volume in trade on Wednesday.

1:51 PM

Check ITR for discrepancies before responding to notice from tax dept

An income-tax (I-T) notice, which is essentially a written communication sent by the I-T Department to a taxpayer alerting him about an issue with his tax account, usually causes panic. Taxpayers should calmly examine the notice and send a timely response to it, with expert help if required. READ MORE

1:43 PM

Asian Markets Update:: Hang Seng slump 3.3%; India seen outperforming

Source: Yahoo Finance

1:34 PM

BSE 500:: Top losers so far

Brightcom Group and Advanced Enzyme were over 3 per cent each and were the top losers among the BSE 500 stocks so far. Bandhan Bank, Torrent Pharma and Punjab National Bank were the other noteable losers.

1:25 PM

After over 50% rise in 2022, is the stupendous rally in ITC fizzling out?

However, the counter has lost over 5 per cent from its recent high of Rs 346.25 hit on September 23, 2022 and has underperformed the S&P BSE Sensex, which has lost nearly 2 per cent since then. READ MORE

1:17 PM

Sensex 30 Heatmap:: Sun Pharma, Dr.Reddy's, Asian Paints gain up to 2%; RIL, ITC weak

1:09 PM

Delhi HC grants bail to Ramkrishna, Subramanian in NSE co-location case

The Delhi High Court granted bail to former NSE head Chitra Ramkrishna and ex group operating officer Anand Subramanian in the co-location scam case being probed by the CBI. READ MORE

1:02 PM

BSE 500:: Top gainers so far

India Cements has soared over 8 per cent and was the top gainer among the BSE 500 stocks so far on Wednesday. It was followed by ITI, Tanla Platforms, Route Mobile and RHI Magnesita, up 4 - 7 per cent each.