Sensex, Nifty end flat after volatile session; metal, energy stocks shine

CLOSING BELL: M&M, Tech M, Dr Reddy's Labs, Reliance Industries, HCL Tech, and Tata Steel were the top gainers on the 30-pack index

4:10 PM

Closing view: Weakened rupee, rising bonds capped investors risk appetite

After a gap down opening, domestic indices were lifted by positive global peers while oil prices rose over renewed supply concerns.

The weakened rupee and rising bond yield limited domestic investors’ risk appetite.

Gains in commodity-linked stocks and optimism over easing Covid restrictions in China aided the global up-move.

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

Imaging: Ajay Mohanty

4:07 PM

Closing view: As rupee hit new low, export oriented sectors saw buying interest

While the confluence of factors like war, oil and currency weakness of India tempted FIIs to book profits on the back of premium valuations relative to its peers, the narrative could likely change if any of the above factors were to alter going forward.

As the rupee hit fresh lows today, we did see selective buying interest in exporting companies as smart investors begin bargain hunting by putting global macro worries behind.

In a rather range-bound trading session today as deliberations of the GST council gets underway, Autos displayed strength yet again on the back of new launches ahead of their monthly numbers.

Views by S Ranganathan, Head of Research at LKP securities

4:03 PM

Expert take on what led to a surge in upstream and refinery companies today

Upstream companies are currently benefited by higher spot prices of oil, leading to strong earnings, while refiners are benefited from higher GRMs.

This trend is expected to continue in FY23, as OPEC will continue to maintain its current production levels.

Going ahead, if oil prices remain elevated, the oil marketing companies (OMCs) will be impacted by higher under-recoveries unless we have a calibrated hike in retail fuel prices.

We remain positive on upstream companies in the short term but over the medium to long term, we expect oil prices to correct as the supply constraints and geopolitical tensions relieve. Given higher volatility in earnings, overall, we have a neutral view on the sector.

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

4:01 PM

Rupee tanks 46 paise to close at record low of 78.83 against US dollar

Persistent foreign capital outflows and a surge in crude oil prices led to the slump. Read here

4:00 PM

Sterling Tools sinks 5% after arm Sterling Gtake E-mobility forays into E-LCV segment

 

3:56 PM

Manappuram Finance ends with cuts; co to consider $100 mln bond issue Thursday

3:54 PM

Route Mobile falls 2.6% ahead of board meet for buyback of shares

3:52 PM

Adani Ports sheds 1.5%; co approaches SC for Navi Mumbai tender plea

Adani Port Trust and Special Economic Zone has approached Supreme Court aggrieved by Bombay High Court's order of dismissing its plea challenging the disqualification in the tender for upgradation of the container terminal in Navi Mumbai.

3:50 PM

Wockhardt slips nearly 4% as Glenmark Pharma buys co's key OTC brands in US

3:45 PM

Sectoral trends: Auto, metals, oil & gas packs help Nifty turn green

 

3:43 PM

Broader markets finish tepidly higher after erasing day's losses

3:42 PM

Nifty losers: Titan, Asian Paints, Bajaj twins top drags

 

3:40 PM

Nifty top winners: ONGC top gainer for 2nd day, auto majors lend hand

 

3:38 PM

Sensex Heatmap: 18 of 30 shares end in green; M&M, Reliance top winners

3:36 PM

Closing Bell: Nifty reclaims 15,850 with gains of 18-odd points

3:34 PM

Closing Bell: Sensex erases 400 pts loss to end flat

3:25 PM

European markets climb as ECB Lagarde plays down recession risks

source: finance.yahoo.com

3:15 PM

CURRENCY CHECK: Rupee extends slide, touches 78.8/$

source: bloomberg

3:10 PM

Zomato sheds nearly $1 bn in valuation over two days after Blinkit deal

The Ant Group-backed food delivery firm said on Friday it would acquire Blinkit for Rs 4,447 crore ($568.16 million) in stock, as it tries to gain a foothold in the fiercely competitive quick delivery market. READ MORE

2:59 PM

Indiabulls Real Estate guilty of profiteering, to refund homebuyers: NAA

The DGAP found that the real estate firm benefitted from additional ITC post the introduction of Goods and Services Tax between July 1, 2017-March 31, 2019, and over Rs 6.46 crore should be passed on to the buyers in the project. READ MORE

2:53 PM

CORPORATE UPDATE :: Hindustan Aeronautics recommends final dividend of Rs 10 per equity share

>> Final dividend is for  the Financial Year 2021-22

>> Subject to approval of the members of the Company, it shall be paid to the shareholders within 30 days of declaration

2:48 PM

NEWS ALERT :: Jio and DigiBoxx collaborate for JioPhotos

2:42 PM

INDEX CHECK :: BSE MidCap index turns positive; Oil India, Jindal Steel top gainers

2:34 PM

STOCK VIEW :: Paytm has bottomed out; expect target of Rs 990

The counter is bottoming out after building a strong base at the 500 level.

It is now witnessing a breakout of symmetrical triangle formation with strong positive divergence in RSI.

If it manages to close above its all-important moving averages, we can expect immediate targets of 870/990.

On the downside, 650 should act as an immediate and strong support level.

Views by: Santosh Meena, Head of Research, Swastika Investmart 

2:24 PM

Tata Motors abuzz post it hikes price of CV range by 1.5-2.5%

2:15 PM

Rupee at a fresh all-time low as rising oil deepens CAD, inflation concerns

The domestic currency was trading at a fresh record low of 78.597 per US dollar against 78.34 per dollar at the previous close. READ MORE

2:06 PM

DHFL-Yes Bank case: ED takes Pune businessman Avinash Bhosle in custody

The Enforcement Directorate (ED) on Tuesday took Pune-based businessman Avinash Bhosale into custody from Arthur Road Jail in an alleged corruption case pertaining to Yes Bank and DHFL. READ HERE

 

1:57 PM

Crude Oil & Natural Gas related shares log strong gains, up up 8%

Hindustan Oil Exploration has soared nearly 8 per cent. ONGC, Oil India and Selan Exploration have rallied around 4 per cent in trades so far.

1:47 PM

Steel stocks log steady gains in trade on Tuesday

Steel stocks were one of the outperformers in trade so far. The likes of Tata Steel, SAIL and Jindal Steel gained 1-2 per cent in an otherwise slippery market.

1:40 PM

India defies global slump with a record $82 bn dealmaking spree in Q2

India saw $82.3 billion pending and completed M&A deals in the second quarter, the highest amount on record, according to data compiled by Bloomberg. That’s more than twice as much than the previous record of $38.1 billion in the third quarter of 2019. Globally, M&A volume in the quarter reached $827.6 billion, down 8.7% from the same period in 2021. READ MORE