Sensex sheds 498 pts, Nifty below 16,500; Infy slips 3.5%, Axis Bank 3%

CLOSING BELL: Equity markets settled near the low point of the day as investors chose to stay on the sidelines ahead of the US Federal Reserve's monetary policy outcome on Wednesday

4:00 PM

Nifty tech view: Hourly-chart indicates near-term bearishness

The benchmark Nifty slipped lower before closing for the day as the proximity to the upper band of the rising channel on the daily timeframe attracted selling pressure.

A "lower top lower bottom" formation is visible on the hourly chart, which indicates a near-term bearishness.

On the lower end, immediate support is placed at 16,400-16,350, below which the index may fall towards 16,000. On the higher end, resistance is visible at 16,600, above which the uptrend resumes.

Views by Rupak De, Senior Technical Analyst at LKP Securities

3:58 PM

Closing view: Spillover impact from developed markets inevitable

Concerns over the global economic slowdown accelerated further as global corporate majors continued their trend of downgrading future estimates.

The Fed’s meeting commences today, which is expected to maintain its aggressive rate hike of 75 bps, weighed on recession fears, especially in western markets.

Even though the domestic market is showcasing strength, the spillover effect from the western market is inevitable.

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

3:54 PM

Rupee ends at 79.78/$ against previous close of 79.73/$

3:53 PM

Ramco Systems sinks 11%; Q1 loss widens to Rs 50.7 cr from Rs 8.9 crs last yr

 

 

 

3:51 PM

KPIT Tech sheds 2%; Q1 PAT at Rs 85.4 crores

 

3:48 PM

EIH Associated gains 2%; co posts profit of Rs 5.7 cr vs Rs 9.8 loss in Q1FY22

 

 

3:46 PM

Ujjivan SFB soars 10% on posting Q1 PAT at Rs 202 cr from Rs 2.3 cr loss last yr

 

3:44 PM

Nifty IT cracks 3%; Auto, Realty, FMCG, Pharma other top losers

 

3:42 PM

Losses spread across broader markets; Mid & Smallcaps suffer steeper cuts

 

3:39 PM

Nifty losers: Infosys, HUL, Axis Bank, Dr Reddy's top drags

 

3:38 PM

Nifty winners: JSW Steel, Grasim, Airtel additional outperformers

 

3:36 PM

Sensex Heatmap: Only 9 gainers led by Bajaj Finserv

 

3:35 PM

Closing Bell: Nifty gives up 16,500-mark; 38 of 50 stocks decline

 

3:34 PM

Closing Bell: Markets decline for 2nd day; Sensex sheds 500 pts in late-hour selling

 

3:31 PM

TUNE IN: Is India Inc seeing the impact of a looming US recession?

Impending recession in the US is reflecting in its domestic consumption. Indian exporters are already seeing a dip in new orders, while IT sector margins are declining. Should the exporters worry? Listen in

3:23 PM

After falling to record lows, rupee regains footing against US dollar

RBI's interventions and a less hawkish view on US Federal Reserve among factors that help currency. Read more

3:13 PM

Global update: European indices trade mutely on Fed hike anxiety

 

3:05 PM

MARKET CHECK: Sensex down 450 pts in fag-hour

 

2:49 PM

WATCH | Is the 5G auction a turning point for India?

The country's largest telecom services provider and other operators are set to lock horns in the auction for 5G spectrum. Will this be an aggressive battle? Will this be a turning point for India? Watch

2:40 PM

Bajaj Auto Q1FY23 results: Net profit up 11% YoY to Rs 1,173 cr, revenue 8%

Bajaj Auto Q1 review: Auto major Bajaj Auto clocked 8.3 per cent rise year-on-year (YoY) in total revenue from operations to Rs 8,004.97 crore in June quarter results (Q1FY23) on a standalone basis. Read more

2:30 PM

Robust demand trends in chemicals biz, expansions positive for SRF stock

The company has increased capex for the business to tap into new opportunities. Read here

2:20 PM

Zomato sinks 23% in two days; loses Rs 1-trillion m-cap from all-time high

With past two days decline, Zomato now trades 46 per cent below its issue price of Rs 76 per share and corrected 76 per cent from its record high level of Rs 169.10 on November 16, 2021. READ MORE

2:13 PM

BSE 500:: Top monthly gainers

Brightcom Group has zoomed over 48 per cent so far in the last one month. and was the top monthly gainer among the BSE 500 stocks. Similarly, Adani Transmission, Tube Investments, Star Health Insurance and Aster DM Healthcare were few of the other gainers, up over 30 per cent each.

2:05 PM

ALERT :: Bajaj Auto says chip situation improved in latter part of qtr as new supply sources were developed

2:05 PM

BSE 500:: Volume Shockers

Sapphite Foods has witnessed unusually high volume of around 26.85 lakh shares so far on the BSE as against its five-day average volume of around 3,000-odd shares. Similarly, Tanla Platforms, Delta Corp, EIGH and Vinati Organics have witnessed a significant spike in volume in trades on Tuesday.

2:05 PM

June Quarter Result :: Bajaj Auto posts profit of Rs 1,173 crore, up 11% YoY

>> Consolidated revenue at Rs 8,005 crore vs Rs 7,386 crore YoY

>> Ebitda at Rs 1,297 crore vs Rs 1,119 crore YoY

>> Ebitda maegin at 16.2% vs 15.2% YoY

1:55 PM

Sandur Manganese turns ex-date for rights issue; stock zooms 50% in 7 days

On April 10, 2022, the board had approved rights issue in the ratio of 2 rights equity shares for every 1 equity share as on record date at a price of Rs 10 per share. READ MORE

1:46 PM

Market Check:: S&P BSE Sensex off lows, still down 260 points

1:38 PM

Global Check:: US stock futures marginally in red

Source: Investing.com

1:29 PM

BSE 500:: Stocks falling significantly from the highs of the day

Tanla Platforms cracked nearly 17 per cent from its high of the day so far. Similarly, Zomato, Sterlite Technologies, Sonata Software and Intellect Design were some of the other prominent stocks to lose notable ground from the highs of the day so far on Tuesday.