HDFC twins, HUL lift Sensex 237 pts; SmallCap index dips 3%; Metals plunge

CLOSING BELL: This was the first gain for benchmark indices in seven days

4:15 PM

Nifty tech view: Resistance at 15,450; break out can lead a rally to 15,800

The Nifty index witnessed consolidation with the heavyweights supporting the index while the broader market continued to witness deep pain.

The index lower end support stands at 15,200 and immediate resistance is placed at 15,450 a break on either side will lead to trending moves.

The resistance if taken out can witness a rally towards 15,800 levels.

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

 

4:12 PM

Market closing view: Mid &Smallcaps suffer cuts while large caps gain

Positive trends in the global markets inspired domestic market to trade positively with large caps gaining the most while mid & small caps continued to trade with cuts.

Prevailing inflationary pressure and concerns over policy tightening limited the upside.

Among the sectors, metals were the top laggard due to a sharp fall in commodity prices along with a fall in global & domestic demand.

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

 

4:10 PM

Rupee closes at 77.98/$ vs Friday's close of 78.07/$

 

4:07 PM

489 stocks on NSE hit 52-wk lows including Axis Bank, Amara Raja

check list here

4:05 PM

Vedanta tanks 12% on plan to sell Sterlite copper plant in Tamil Nadu

4:02 PM

Beaten down LIC gains after JP Morgan initiates coverage with ''overweight"

JPMorgan has set a target price of Rs 840, an implied upside of 28%

 

4:00 PM

ITI soars 12% on spurt in volumes

3:58 PM

Dilip Buildcon erases gains, sheds 1% after winning Gujarat Metro tender

3:55 PM

Adani Wilmar cuts edible oil price by Rs 10/ltr; stock ends in 5% lower circuit

3:52 PM

Nifty top drags: ONGC, Tata Steel lead decline; slip up to 4.8%

3:51 PM

Nifty top winners: Asian Paints, Wipro, Britannia rise 3%

3:49 PM

Sensex heatmap: HUL, HDFC top winners; 13 stocks end in red

3:47 PM

Sectoral trends: FMCG pack gains; Metals, energy indices slump

3:45 PM

Broader markets suffer losses; SmallCaps worst laggard

3:40 PM

Closing Bell: Nifty ends at 15,350; 27 of 50 constituents close higher

3:38 PM

Closing Bell: Sensex snaps 6-day losing run; gains 237 pts

3:24 PM

VIL board meeting on Jun 22 to consider Rs 500-cr fundraising from promoter

The fundraising will be through the issuance of equity shares or convertible warrants on a preferential basis to one or more entities belonging to Vodafone Group (one of the promoters of the company). Read more

3:15 PM

In 5 yrs, we'd like to be No. 1 in bancassurance: LIC chairperson MR Kumar

We firmly believe that once the market stabilises, our inherent strength and performance will be recognised. Read more

 

3:06 PM

Centre gets multiple bids for privatisation of Ferro Scrap Nigam Ltd

The privatisation of the government-owned entity involves the transfer of management control in the public sector undertaking (PSU), which is a 100 per cent subsidiary of state-owned MSTC. Read here

2:59 PM

Metal stocks extend slide; Vedanta tanks over 14%

2:49 PM

SECTOR CHECK :: PSBs slide; Index down 3%, BoB, Canara Bank fall up to 5%

2:41 PM

MARKET CHECK :: Nifty SmallCap drops over 3%

2:30 PM

European markets move higher in early trade

source: finance.yahoo.com

2:20 PM

Expert view on steel amid slump in metal stocks

Domestic steel prices have crashed nearly 20 per cent recently from the peak following the excess supply in the market caused by the imposition of 15 percent export duty.

Unless this decision is reversed, steel exports are likely to take a hit of nearly 35 per cent. This will also severely impact the profitability of the steel sector and this is getting reflected in the prices of steel stocks which have taken a big hit.

The positive side is that steel consumers, notably in the automobile and construction sectors will gain from this steep decline in prices.

Views by VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Photo: Bloomberg

2:14 PM

Duty-related measures to cut India's steel exports by 40% in FY23: CRISIL

India's steel exports is expected to come down by 40% to 12 million tonnes (MT) in the ongoing fiscal, as a result of the duty-related measures taken by the government last month, according to CRISIL. READ HERE

2:04 PM

Finance Ministry Economic Report | Economy expected to see slowing growth

>> See upside risk to Budgeted Deficit level

>> Medium-term growth prospects are bright

>> Economic growth seen higher than other EMs

>> FY23 capex budget expected to underpin growth

1:54 PM

Sugar stocks slump on fears of extension of export curbs

Sugar stocks witnessed heavy selling across-the-board amid reports of a possibility of extension on the sugar export limitations into next year. Shree Renuka Sugar, Dwarikesh Sugar and Bajaj Hindusthan were the major losers, down up to 10.5 per cent.

1:47 PM

Fitch enhances ratings of 13 Indian firms to 'elevated downgrade risk'

Global rating agency Fitch on Monday moved 13 Indian companies from the category of entities carrying 'elevated downgrade risk' — becoming sub-investment grade entities — to those with 'moderate downgrade risk'. This follows the stabilisation of their outlooks and upgrading outlook on India’s sovereign rating to 'stable' from 'negative'. READ MORE

1:40 PM

1 in 3 Nifty500 stocks are down 25% YTD; 15 have halved their 2022 gains

A total of four stocks -- Dhani Services, Brightcom Group, Indiabulls Real Estate and Solara Active Pharma Sciences -- have been butchered more than 60 per cent. READ MORE

1:33 PM

Mining Stocks remain under pressure:: Vedanta, GMDC, NMDC major losers

Vedanta tanked over 14.5 per cent and was the top loser among the mining stocks on the BSE. NMDC and GMDC were down 5.5 per cent and 8.1 per cent, respectively.