Sensex falls 306 pts; Nifty holds 16,600; Zomato cracks 11%, RIL 3%

CLOSING BELL: Among sectors, the Nifty Auto fell 1.7 per cent, while the Nifty Metal added 1.5 per cent

3:58 PM

Nifty tech view: Trend on the upside; use buy on dips approach

The Nifty index after a 600 points rally witnessed profit booking at higher levels.

The index will likely consolidate in the range of 16,400-16,800 ahead of the US Fed meet. The trend remains on the upside and one should keep a buy-on-dip approach.

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

 

3:56 PM

Closing view: Fed's rate hike decision to be key driver this week

Fears of global economic slowdown along with the reaction to a slew of major quarterly earnings dictated the trend in the domestic market.

Recession fears are casting a shadow over the global markets as US and Euro business activity contracted unexpectedly owing to the downturn in manufacturing and service sectors.

The major market driver this week will be the Fed’s policy decision on Wednesday, where it is expected to hike rates by 75bps.

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

3:54 PM

Rupee gains 16 paise to close at 79.74/$

3:52 PM

Vardhman Special surges 6%; Q1 PAT at Rs 30.3 cr vs Rs 27.8 last yr

 

3:50 PM

Supreme Ind drops 4%; Q1 PAT comes at Rs 214 crores

 

3:48 PM

Sharda Cropchem sinks over 18%; co reports Rs 27 cr Q1 PAT vs Rs 38 last yr

 

3:46 PM

Ahluwalia Contracts also moves 35 up on bagging large order worth Rs 1,120 crores

 

3:44 PM

Krsnaa Diag gains 3% on winning Rs 75 crore tender

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3:42 PM

Auto pack leads sectoral losses; Metals outshine

 

3:40 PM

Broader markets close mixed; SmallCaps weak

 

3:39 PM

Nifty losers: RIL, Maruti, Eicher Motors, ONGC top laggards

 

3:38 PM

Nifty winners: Tata Steel soars 3% ahead of Q1 results

 

3:37 PM

Sensex Heatmap: 12 of 30 stocks close higher; RIL, M&M drag

 

3:35 PM

Closing Bell: Nifty ends below 16,650; only 18 of 50 stocks gain

 

3:33 PM

Closing Bell: Markets drop after 6-day gains; Sensex sheds 300 pts

 

3:31 PM

China seals off iPhone maker CNOOC in Shenzhen to battle Covid-19

The lockdown comes as China narrowly escaped an economic contraction in the June quarter, when a series of rolling lockdowns shut businesses nationwide, eroded employment and hurt consumer spending. Read more

3:23 PM

VC funding dips in India in Q2 as investors focus on cash preservation

VC investment in India dipped in the April-June quarter (Q2) as investors shifted their focus to cash preservation in anticipation of funding becoming less easy to obtain over the next few quarters. Read here

3:14 PM

RBI 'correct' to use FX reserves to tackle rupee volatility: Econ adviser

The RBI is justified in using the country's foreign exchange reserves to smooth out volatility in the rupee's moves against the dollar, a member of the Economic Advisory Council said. Read here

3:03 PM

Chip crunch, high RM to dent Bajaj Auto's margins in Q1FY23, say analysts

Analysts, on average, expect the revenue to fall up to 7 per cent quarter-on-quarter (QoQ) to Rs 7,416 crore in Q1FY23. READ MORE

2:53 PM

Singapore's inflation rises to 6.7% in June, highest in 14 years

2:43 PM

Mixed trade for European markets

2:30 PM

Canara Bank Q1 net up 71.8% YoY to Rs 2,022 cr on higher interest income

Sequentially, its net profit rose 21.4%; lender's treasury income rises despite hardening yields. READ MORE

2:19 PM

Sooner or later, US recession will come knocking at India's tech-hub door

India's tech industry is ruling out a US recession. Or so you would think from Infosys Ltd.'s cheery forecast of 14 per cent to 16 per cent annual revenue growth. READ MORE

2:08 PM

Gokaldas Exports extends gains, up 8% in two days post June quarter results

Despite near term headwinds, the management anticipate good growth in FY23 and a surge from FY24. READ MORE

 

2:00 PM

Blue Dart revs up for growth with more planes, greater geographical reach

Logistics major Blue Dart is looking to expand its fleet adding Boeing 737 aircraft to its fleet as it looks to increase its geographic presence and scale and gain more from the burgeoning e-commerce sector. READ MORE

1:54 PM

BSE 500:: Volume Shockers

Nuvoco Vistas has witnessed unusually high volume of around 38 lakh shares so far on Monday on the BSE as against its five-day average volume of around 18,650 shares. Similarly, Navin Fluorine International, Poly Medicure, Zomato and Century Textiles have also witnessed a significant spike in volume in trades.

1:47 PM

Govt's cryptocurrency stance: Heads I win, tails investors lose

The government has laid out clear rules on taxation of cryptocurrencies but has not said anything on what happens in cases of fraud. READ MORE

1:41 PM

Jio, Airtel poised to gain at Vodafone Idea's expense in 5G auction

With a war chest of around Rs 1.75 trillion (or 90 per cent of the total) for the upcoming 5G auction on Tuesday, Reliance Jio and Bharti Airtel are well positioned to accelerate their share in the market and revenue at the expense of Vodafone Idea (VIL), say most analysts. READ MORE

1:30 PM

Attrition continues to hit margins at top-tier IT companies in Q1FY23

A quick look at the Q1FY23 performance of top-tier IT services players shows that they are still far away from getting a grip on managing attrition. Talent retention has eroded not only their margins but also any gains they may have made from rupee depreciation. READ MORE

1:20 PM

Prashant Jain quits HDFC AMC: Here's how the stock looks on the charts

Shares of HDFC AMC had rallied significantly post its debut in July 2018. However, after hitting a peak at Rs 3,681 in November 2019, the stock has since then declined over 50 per cent. READ MORE