Sensex drops 879pts, Nifty near 18,400 on Fed's hawkish pivot; IT worst hit

CLOSING BELL: The 30-pack index had dropped over 900 points intra-day to hit a low of 61,715.61, while the 50-pack index hit a low of 18,388

4:19 PM

NIFTY VIEW: Index moving closer to lower end of consolidation range at 18,300

With the minor degree bounce in the last couple of sessions, the Nifty had retraced 61.8% retracement of the previous decline.

The index formed a distribution near the key Fibonacci level throughout the day on December 14. Thereon the index nose dived on December 15.

Structurally, the index is moving down towards the lower end of the short term consolidation range i.e. 18300.

Buying support can be expected again near 18300. Overall, the short term consolidation range of 18300-18700 remains intact.

Views by Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

4:18 PM

COMMENT: US Fed's surprisingly negative tone startles market

The Fed has startled the market by maintaining its hawkish tone, as investors were expecting a softer approach after the release of better-than-expected inflation numbers. IT stocks led to pessimism in the domestic market as recession fears grew in the global economies following the Fed’s comments. The market now awaits the BOE and ECB decisions, which are likely to follow a half-point hike.

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

4:16 PM

Apollo Tyres, Britannia, SBI among stocks to scale all-time highs in weak mkt

4:14 PM

IRCTC, BOI, Hathway, GE Shipping lead losses among BSE500 lot

4:12 PM

Kalpataru Power ekes out around 1% gain after co bags Rs 1,400 crore order

4:09 PM

Kwality Pharma gains as its Himachal unit gets ANVISA approval

4:05 PM

Arfin India rallies 16% on bagging a Rs 350 crore export order

4:01 PM

Nava zooms 8% on arbitral tribunal's award for arm to receive outstanding arrears worth $518 mn

Zesco to pay the amount to co's arm Mamba Collieries after the Arbitral tribunal issued consent award to settle all claims.

3:57 PM

Rupee ends at 82.76/$ against Wednesday’s close of 82.46/$

3:53 PM

India VIX spikes over 6% as expectations of longer rate hikes unnerves investors

3:50 PM

SECTORS: IT, PSB indices slip 2% in broad-based selloff

3:48 PM

SME IPO index noticeable outperformer; ends 1.3% up vs 1.4% fall in Sensex

3:46 PM

National Fertilizers, MTNL, Mahindra CIE among small-caps to survive Thursday's crash

3:43 PM

BROADER MARKET: Small-cap index logs slimmer cut vs benchmarks

3:41 PM

NIFTY DRAGS: Tech M claims top loser spot, sheds nearly 4%

3:40 PM

NIFTY GAINERS: Britannia, Hero Moto, SBI Life additional outperformers

3:38 PM

HEATMAP: Losses all across Sensex; NTPC, Sun Pharma manage fractional upticks

3:36 PM

CLOSING BELL: Dalal Street snaps 2-day gains; Nifty slumps to 18,400 levels

3:34 PM

CLOSING BELL: Sensex crashes 879 pts on hawkish US Fed pivot

3:29 PM

India's Q3 current account deficit likely rose on widening trade gap: Poll

A revival in domestic demand in Asia's third-largest economy since the Covid-19 pandemic has also compounded the shortfall through higher imports. Read more

3:23 PM

Profit-led rally in GIC may fizzle out sans turnaround in underwriting biz

After being a big laggard for more than four years since its initial public offer, public sector firm General Insurance Corporation (GIC) has now started to outperform the broader market. Its stock price was up 8.8 per cent on Wednesday compared to a 0.23 per cent rise in the benchmark BSE Sensex during the day. Read more

3:12 PM

Oil dips as dollar firms up and more rate hikes trigger demand concerns

Brent crude futures fell 64 cents, or 0.8%, to $82.06 per barrel by 0730 GMT, while US crude futures slid 73 cents, or 0.9%, to $76.55. Read more

3:02 PM

Sensex tumbles over 750 points: Top factors behind Thursday's market fall

Weak sentiments across global markets pushed domestic markets lower in Thursday's trade after the US Federal Reserve (US Fed) hinted interest rates to peak above 5 per cent by the end of 2023. READ MORE

2:55 PM

Global Check:: US, UK stock futures down over 1%

Source: Investing.com

2:45 PM

Will the share buyback revive Paytm's fortunes?

The board of One 97 Communications Ltd has approved a share buyback proposal. It came less than 13 months after Paytm's disastrous listing. How will the buyback affect Paytm's fortunes and investors? LISTEN PODCAST

2:29 PM

BSE 500:: Sapphire Foods, Mahindra Life, Nykaa among volume shockers today

Sapphire Foods has witnessed unusally high volume of around 7.28 million shares so far on the BSE as against its five-day average volume of around 3,400-odd shares. Similarly, Mahindra Life, Thyrocare Technologies, Nykaa and Mahindra CIE were among the other volume toppers on Thursday.

2:13 PM

Fertiliser shares rally in weak market; MFL, NFL, RCF surge up to 18%

Shares of fertilisers companies zoomed up to 18 per cent on the BSE in Thursday's intra-day trade amid heavy volumes on expectations of additional fertiliser subsidies. In comparison, the S&P BSE Sensex was down 0.76 per cent at 61,199 at 12:49 PM. READ MORE

2:03 PM

BSE 500:: IRCTC, Voda Idea, Welspun India among top losers

IRCTC down nearly 6 per cent was the top loser among the BSE 500 stocks. Hathway Cable, Welspun India, Vodafone Idea and GE Shipping, down 3 - 4 per cent each were the other significant losers so far on Thursday.

1:47 PM

NEWS ALERT:: Kalpataru Power wins new orders worth Rs 1,397 cr

Kalpataru Power Transmission and its subsidiaries have secured orders worth Rs 1,397 crore, according to a release issued by the company to the BSE.

1:39 PM

Tariff order, consolidation to support rally in broadcasting stks: Analysts

New Delhi Television (NDTV), Dish TV, Sun TV Network, and Zee Entertainment outperformed the indices over the last six months by surging between 18 per cent and 95.5 per cent. READ MORE