FMCG, select banks help Sensex, Nifty snap 5-day losing streak; Metals dip

CLOSING BELL: Nestle, Titan, Hindustan Unilever and Asian Paints were the major gainers among the Sensex-30 pack; while Tata Steel, IndusInd Bank and Bharti Airtel were the top losers.

4:13 PM

Comment :: 'Investors should restrict positions to stocks showing relatively higher strength'

Global cues are still mixed; however, oversold positions and the existence of support around 16,800 in Nifty may trigger a rebound towards the 17,200 zone. Having said that, participants shouldn't go overboard, and restrict positions to stocks that are showing relatively higher strength. 

Views by: Ajit Mishra, VP - Technical Research, Religare Broking

3:58 PM

Tech View :: 'Fag-end recovery suggests relief rally over the next few sessions'

The Nifty witnessed a sharp recovery, and closed in the positive after falling for five consecutive days. It closed with marginal gains of ~13 points, more importantly it has taken support at the lower end  of the downward sloping channel, and bounced back with a long lower shadow indicating buying interest at lower levels.

The positive divergence and positive crossover on the hourly charts suggest that bounce can continue over the next few trading sessions. Considering that the Nifty has corrected ~1,000 points in the last six trading sessions, it is appearing oversold and hence a relief rally appears highly probable over the next few trading sessions.

On the upside, the immediate hurdle stands at 17,170 – 17,200 zone where resistance in the form of the hourly upper Bollinger band and the 40-hour exponential moving average is placed.

Views by: Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.

3:56 PM

Comment :: 'Markets lack confidence despite easing SVB, CS failure concerns'

With the turbulence at Credit Suisse, and ahead of the ECB policy announcement, investors' attention has switched to developments in the European market. Consistently unfavourable signs in global markets are encouraging investors to move to safe havens such as the dollar and gold, while FIIs are withdrawing funds from the domestic market in response to the Indian rupee's depreciation. Though the SVB & Credit Suisse crisis has eased, the market lacks the confidence to hold positions on contagion fears.

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

 

3:54 PM

Global markets :: US index futures trade mixed

3:53 PM

Global markets :: European stocks trade with gains amid Credit Suisse bail out hopes

3:51 PM

Rupee closing :: Rupee ends lower at 82.73/$ vs Wednesday's close of 82.60/$

3:50 PM

Adani Group stocks end mixed today; Adani Total Gas worst hit

3:48 PM

BSE Oil & Gas index rises 1% as HPCL, HPCL soar 6% each

3:45 PM

RIL hits new 52-week low intra-day as oil prices fall

>> M-Cap fell below Rs 15 trillion intra-day

3:42 PM

Samvardhana Motherson crashes 11% post block deal

As per media reports, Sumitomo Wiring Systems Ltd (SWS) was to sell 230 million shares in the company i.e. around 3.4 per cent stake via block deal mechanism on stock exchanges today. The floor price for the deal was to be around Rs 69.90 per share (i.e. a discount of 9 per cent to last closing price) with total transaction value pegged at Rs 1,600 crore, the report suggested.

3:41 PM

IndusInd Bank down over 2% even as ZEEL could repay $10 mn to the lender

3:40 PM

Zee Entertainment surges 10% amid reports of debt repayment to IndusInd Bank

Zee Entertainment Enterprises Ltd. has agreed to repay dues owed to IndusInd Bank Ltd. as the company seeks to resolve insolvency proceedings initiated against it and inch closer to completing a merger with a Sony Group unit to create a $10 billion media giant, people familiar with the matter said.

3:38 PM

Broader market check :: Mid, SmallCap indices fall despite gains in large-caps

3:36 PM

Sectoral trends :: 2 indices end in red; Media index rises the most

3:35 PM

Sensex Heatmap :: 17 of 30 index stocks rally in volatile trade; Consumer stocks lead

3:34 PM

CLOSING BELL :: Nifty ends above 16,950

3:33 PM

CLOSING BELL :: Sensex ends higher for the first time in 5 days

3:19 PM

BSE 500:: Samvardhana Motherson, Alkem Lab, ICICI Pru Life among volume shockers

Samvardhana Motherson witnessed unusally high volume of around 26.35 million shares so far on the BSE as against its five-day average volume of around 4.23 lakh shares. Similarly, Alkem Lab, ICICI Pru Life, Aurobindo Pharma and BPCL were among the other BSE 500 volume toppers on Thursday.

3:11 PM

DLF sells 1,137 flats in Gurugram for over Rs 8,000 crore within 3 days

Realty major DLF Ltd on Thursday said it has sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days. READ MORE

3:00 PM

Global Check:: US, UK stock futures signal mixed trade

Source: Investing.com

2:48 PM

Zee Entertainment up 8% on report that it will pay $10 mn to IndusInd Bank

The settling of dues of about Rs 83.7 crore to the lender could happen as early as Friday, and IndusInd Bank could withdraw its insolvency proceedings against the media company. READ MORE

2:36 PM

BSE 500:: Samvardhana Motherson, Brightcom, Hindalco among top losers

Samvardhana Motherson down 10.4 per cent was the top loser among the BSE 500 stocks. Brightcom Group, Hindalco, Jubilant Pharmonova andJK Papers down 4 - 7 per cent each were the other major losers so far on Thursday.

2:24 PM

Global Check:: Major Asian markets languish in red

Source: Yahoo Finance

2:17 PM

More steam left in NTPC stock; to be key beneficiary of rising power demand

NTPC has a healthy return on equity (RoE) of 14-15 per cent and a likely revenue compound annual growth rate of 15 per cent through FY25. READ MORE

1:57 PM

News Alert: HG Infra Engg bags Rs 1,303 cr order

In a release to the BSE, the company said it won an order worth Rs 1,303.10 crore for construction of 6 lane Greenfield Varanasi Rachi Kolkata Highway from Deoria village to Donoreshan village, total length 35.6 kms.

1:45 PM

ITC's diversification into non-cigarette biz shows critical mass in profits

But ITC's strong run currently is not restricted to a single segment - all businesses are on a high . READ MORE

1:33 PM

REPORT: Zee Ent to repay $10 million to IndusInd Bank to pave way for Sony merger

As per a Bloomberg report, Zee will make the payment to Indusind Bank tomorrow. 

 

Indusind Bank is said to withdraw NCLT insolvency petition against the company post the payment. 

1:24 PM

BSE 500:: Network 18, Tv18, HPCL among top gainers

Network 18 Media up 8.3 per cent was the top gainer among the BSE 500 stocks so far on Thursday. It was followed by ICICI Pru Life, TV18 Broadcast, Hikal and HPCL, up 6 - 8 per cent each.

1:13 PM

ED conducts searches at Franklin Templeton offices in Mumbai, Chennai

The federal agency is looking to gather more evidence as part of its investigation against the company and its promoters under the Prevention of Money Laundering Act (PMLA), officials said. READ MORE

 

1:01 PM

Britannia, ITC, Radico: These FMCG stocks may act as hedge in current fall

FMCG stocks are regarded as safe havens in turbulent times and recognized as a hedge against the falling investment. However, in order to find the right stock, one needs to be selective even in defensive sector. Since mid-February of this year, domestic markets have been on a roller coaster, with uncertainty making investors more anxious. READ