Sensex, Nifty end flat in choppy session; metals, auto, IT packs slip most

Stock market LIVE updates: The broader markets suffered more losses than the frontline indices. The BSE MidCap and SmallCap indices shed 0.5 and 0.7 per cent, respectively.

4:21 PM

Nifty tech view: Index stuck in sideways trend

The Nifty index is stuck in a sideways trend where the immediate support is placed at 15,700 and resistance is at 15,900 level.

The index once breaches the level of 15,900 on the upside will see sharp short covering on the upside towards 16,200 levels.

The lower-end support if broken can see a fall towards 15,500-15,400 zone where fresh put writing has been seen.
 

The immediate support on the downside is placed at 33,200-33,000 zone and the upside resistance is placed at 34,000 where a significant amount of call writing has been observed. The index needs to break out of this range on either side for getting a directional move.

Views by Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.

4:15 PM

Closing view: Banks, Energy stocks helped recover from lows

"Shaking off a weak lead from the global market, domestic indices recouped its losses backed by banking and energy stocks. Asian and European markets struggled to regain footing amid global recession fears, leading to a resurgent US dollar, which benefitted from safe-haven demand. FII selling nearing exhaustion provided comfort to the jittery Indian market". 

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

 

4:10 PM

Nifty Banks, Financials sole sectoral gainers; Metals, IT Realty, Auto top drags

 

4:05 PM

Broader markets suffer larger cuts; end up to 0.9% lower

 

4:00 PM

Nifty top 5 losers and winners

 

3:55 PM

Sensex heatmap: 19 of 30 shares close in red; Banks lead gains

 

3:50 PM

Closing Bell: Nifty sheds 19 points, ends below 15,800

 

3:45 PM

Closing Bell: Sensex erases 360 point gain to end flat

 

3:11 PM

Rupee relatively better placed than other global currencies against USD: FM

The rupee breached the psychologically significant level of 79 per dollar level for the first time ever on Wednesday and has also hit a series of new lows this month. Read here

3:03 PM

Delta Corp cracks 9%, stock nears 52-week low amid taxation uncertainty

The GST Council has decided to refer the report of the Group of Ministers on casinos, online gaming and horse racing back to the panel of ministers for further deliberation. READ MORE

2:49 PM

S&P BSE Metal down over 250 points; Vedanta, NALCO shed 3%

2:41 PM

Telcos' 5G bids seen muted as private firms jostle for airwaves: Report

Top telecom giants have failed to lobby govt to stop private networks allocation that will let various enterprises to get airwaves without auction. READ MORE

2:33 PM

Gold prices set for worst quarter since early 2021 as dollar dominates

Spot gold was flat at $1,817.01 per ounce by 0615 GMT. U.S. gold futures were little changed at $1,816.90. READ MORE

2:23 PM

Pricol, Minda: Here's why you should consider buying auto ancillary stocks

According to the technical charts, auto ancillary stocks, like Talbros Automotive, Jupiter Wagons and Minda Industries are likely to rise another 15 per cent in the upcoming trading sessions. READ MORE

2:17 PM

IOC to invest Rs 740 crore to raise Digboi refinery capacity in Assam

In a stock exchange filing, IOC said its board has approved raising of Digboi refinery capacity from 0.65 million tonnes per annum to 1 million tonnes. READ MORE

2:04 PM

Energy basket pumped up in trade; Adani Transmission rises 5%

1:52 PM

BSE 500:: Volume Shockers

Ratnamani Metals has witnessed unusually high volume of around 14,810 shares so far on the BSE as against its five-day average volume of around 1,480-odd shares. Similarly, MOIL, MCX India, Chola Financial and Gujarat Pipavav Port have also witnessed a spike in volume in trades on Thursday.

1:46 PM

European markets sink as recession concerns persist

1:45 PM

Dr Reddy's settles patent litigation with Indivior, Aquestive Therapeutics

Dr Reddy's Laboratories on Thursday said it has settled patent litigation with Indivior Inc and Aquestive Therapeutics on a medication used to treat opioid dependence or addiction. READ MORE

1:37 PM

This Rakesh Jhunjhunwala-owned stock slipped 31% in 12 trading days

Star Health quoted lower for 12th straight trading day and slipped 31 per cent to Rs 488.5 from Rs 703.35 that it had touched on June 14, 2022. READ MORE

1:28 PM

Global Check:: Dow, Nasdaq futures down over a per cent each

Source: Investing.com

1:17 PM

Expert View: Nifty needs to hold above 15,700-15,735

The Nifty opened marginally positive and inched lower thereafter. The index is seen facing some pressure at higher levels as a result of which it is unable to surpass 15,900 zone but some support is visible at the lower levels which is holding the market.

 

The index seems to be hovering in a broader range of 15,650 to 15,950. India VIX is hovering at 22 which indicates volatility likely to continue and creating discomfort for the bulls. It needs to cool down for stability and a directional move in the market.

 

Now again, a hold of its crucial support levels of 15,700-15,735 zone is very important for the move towards higher levels. Till it holds above 15,700–15,735 zone we can expect a bounce towards 15,950 and 16,000-mark; whereas a hold below this could open a downside move towards 15,555 and 15,350.

 

(Views are of Chandan Taparia, Vice President, Equity Derivatives and Technical, Broking & Distribution, Motilal Oswal Financial Services Ltd.)
 

1:08 PM

Is the time ripe for consolidation among new-age technology companies?

A rise in cost of capital has already weighed on the related stocks all across the globe over the past few months. READ MORE

1:00 PM

JB Chemicals gets board approval to acquire Dr Reddy's 4 brands for Rs 98 cr

JB Chemicals & Pharmaceuticals on Thursday said its board has approved a proposal to acquire four paediatric brands from Dr Reddy's Laboratories for about Rs 98 crore. READ MORE

12:53 PM

Asian Markets Update:: Nikkei, Taiwan ended with steep losses

Source: Yahoo Finance

12:45 PM

ITC, Sun Pharma: 5 defensive stocks that may gain up to 25%. You own any?

Pharma stocks like Torrent Pharmaceuticals, Sun Pharmaceutical Industries, and Cipla can easily run up to 18 per cent. READ MORE

12:39 PM

US economy shrank 1.6% in first quarter: Commerce Department report

The GDP data for the first quarter marks the US economy's first contraction since the onset of the Covid-19 pandemic. READ MORE

12:30 PM

Top 5 factors that may set market direction in the second half of 2022

As equity markets complete the first half of the calendar year 2022 (CY22) with a fall of around 9 per cent, interest rate hike trajectory by global central banks coupled with the conundrum of inflation and growth will be the key factors that may decide the market’s direction going ahead, experts say. READ MORE

12:24 PM

BSE 500:: Top losers so far

Delta Corp has plunged nearly 8 per cent and was the top loser among the BSE 500 stocks so far. Amber Enterprises, Aavas Financiers, Indiabulls RealEstate and Phoenix Mills were few of the other significant losers.

12:15 PM

RateGain Travel hits all-time low; plunges 43% from IPO issue price

Shares of RateGain Travel Technologies (RTTL) hit an all-time low of Rs 240.25, slipping 3 per cent on the BSE in Thursday’s intra-day trade. The stock has fallen 9 per cent in the past two days on concerns of weak earnings in the June quarter (Q1FY23). READ MORE