Sensex snaps 4-day winning run, slips 215 pts ahead of US Fed rate decision

Market Wrap: Bharti Airtel, Maruti, HCL Technologies and Hindustan Unilever were the prominent losers, while ITC and Sun Pharma finished with steady gains.

4:18 PM

TECH VIEW :: 'Short covering rally may take Nifty towards 18,500-18,800'

The Nifty index witnessed some selling pressure from the higher level ahead of the FED meeting. The undertone remains bullish and once the index breaks above 18,200, we will witness a sharp short covering on the upside towards the 18,500-18,800 levels. The lower-end support stands at the 17,950-1,7800 zone which will act as a cushion on the downside.

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

4:12 PM

MARKET COMMENT :: 'Trend to remain positive despite volatility'

Markets traded dull and ended marginally lower, taking a breather after the recent surge. After the flat start, profit taking pushed the index gradually lower however marginal rebound in the final hours trimmed losses.  Consequently, the Nifty index settled at 18,075; down by 0.38%.  Most sectoral indices traded in tandem with the benchmark and ended with a marginal cut. Meanwhile, movement on the stock-specific front kept participants busy till the end.

 

Markets will react to the outcome of the US Fed meet in early trades and then the focus would shift to the MPC’s special meet. The outcome of these events could trigger some volatility but the market tone is likely to remain positive. We thus recommend focusing more on accumulating quality stocks on dips.

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

3:58 PM

MARKET COMMENT :: 'Market movement will be determined by US Fed commentary'

With the FOMC's outcome around the corner, profit booking and a risk-off mood dragged the domestic market to trade with cuts. Meanwhile, strong US employment figures dented expectations for a slowdown in rate hikes. Since the market has already priced in a 75 bps rate hike by the Fed, market movement will be determined by their comments on its next moves.

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

3:57 PM

BSE Stats :: Small-caps support Advance-Decline ratio

3:56 PM

IPO Update :: Fusion Microfinance off to a slow start; subscribed just 7% so far on day 1

3:52 PM

IPO Update :: DCX Systems subscribed nearly 70x till 3:45 PM on final day

>> Bidding closes at 5 PM

3:50 PM

Bond Market :: Yields on 10-year G-Sec rise ahead of US Fed outcome

3:48 PM

CURRENCY CHECK :: Rupee ends weaker at 82.79/$

>> This is against Tuesday's close of 82.70/USD

Source: Bloomberg

3:47 PM

Buzzing stock :: Nykaa declines 3% post Q2 results

3:45 PM

Buzzing stock :: ITC hits record high in a weak market

3:44 PM

Buzzing stocks :: Sugar stocks end largely higher after govt ups procurement price of Ethanol by 3-5%

3:42 PM

Buzzing stock :: Tech Mahindra ends about 1% higher on in-line Q2 results

3:41 PM

Buzzing stock :: IFCI leaps over 19% on report on financial support of Rs 2,000 cr from govt

3:40 PM

Buzzing stock :: Karnataka Bank hits 20% upper circuit on healthy Q2 results

3:39 PM

BSE SmallCap index outperforms peers lifted by Karnataka Bank, IFCI, Mazagon Dock

3:38 PM

BSE MidCap index slips 0.12%; LIC Housing Finance, Kansai Nerolac slide the most

3:36 PM

Broader market check :: Mixed trends visible; small-caps outperform

3:35 PM

Sectoral trends :: Most indices end lower; metal, pharma stocks up

3:34 PM

Sensex Heatmap :: Only 8 stocks hold gains in a weak market; Sun Pharma, ITC top gainers

3:33 PM

CLOSING BELL :: Nifty holds 18,000

3:32 PM

CLOSING BELL :: Investors book profit ahead of US Fed outcome; Sensex falls over 200 pts

3:29 PM

ALERT :: Cabinet approves Mechanism for procurement of ethanol by state-owned OMCs

>> This would be under Ethanol Blended Petrol (EBP) Programme.

 

>> Revision of ethanol price is for Ethanol Supply Year (ESY) 2022-23

 

3:27 PM

India's decoupling from global capital market surprising: Mukul Kochhar

India has outperformed major global markets over the past one year. There are reasons for India’s performance but the extent creates concern, says Mukul Kochhar, head, Institutional Equities, Investec India. Kochhar, in an interview to Samie Modak, explains the reasons for India’s outperformance and why investors should temper their return expectations for the mid-term. READ MORE

3:15 PM

JSW group to invest Rs 1 trn in Karnataka in five years, say Sajjan Jindal

Industrialist Sajjan Jindal, who is the chairman of the JSW Group, said on Wednesday that his group was planning to invest Rs 1 trillion over the next five years in all its Karnataka-based businesses. READ MORE

3:07 PM

Global Check:: US, UK stock futures marginally up ahead of US Fed rate decision

Source: Investing.com

2:57 PM

Foreign investors sell $500 mn of India govt bonds in two days: Analysts

Foreign investors have sold Indian government debt worth nearly $500 million in the past two sessions, with the so-called FAR bonds bearing the brunt of a selloff that traders note is ahead of the Federal Reserve's policy decision and crucial U.S. data. READ MORE

2:47 PM

Stock of this IT enabled services company has zoomed 73% in 11 trading days

Shares of Axiscades Technologies continued their northward movement as they froze 10 per cent upper circuit at Rs 282.95 per share in Wednesday's intra-day trade. READ MORE

2:38 PM

BSE 500:: LIC Housing, Alembic Pharma, Vakrangee among volume shockers

LIC Housing Finance has witnessed unusually high volume of around 15.65 lakh shares on the BSE so far as against its five-day average volume of around 2.06 lakh shares. Similarly, Alembic Pharma, P&G Hygiene, Vakrangee and EIH also witnessed a significant spike in volume on Wednesday.

2:25 PM

Missed inflation target, but acting early would have exerted costs: RBI Guv

RBI Governor Shaktikanta Das on Wednesday defended the Reserve Bank's handling of the price situation, saying acting prematurely on inflation would have exerted a heavy cost on the economy and citizens. READ MORE 

2:16 PM

Mahindra Holidays Q2 net dips 24%; stock down 2%

Mahindra Holidays & Resorts today reported 23.8 per cent drop in Q2 net at Rs 30.91 crore when compared with Rs 40.56 crore in the year ago quarter. Total income, however, was up 13.8 per cent YoY at Rs 301.80 crore.