Sensex down for 4th day, dips 98pts; Nifty below 15,950; PSB, IT worst hit

CLOSING BELL: Axis Bank, HCL Tech, SBI, Tech M, TCS, Wipro, Infosys, and Ultratech Cement were the top large-cap laggards

4:12 PM

Nifty tech view: Index remains below important moving average

The Nifty corrected towards the lower band of the rising channel before closing a bit off the day's low.

On the daily chart, the index has remained below the important moving average.

The daily RSI is in a bearish crossover. On the lower end, the index may find support at 15,850-15,875. On the higher end resistance is visible at 16,100.

Views by Rupak De, Senior Technical Analyst at LKP Securities

4:09 PM

Closing view: Higher-than-expected US inflation weighs on investor sentiment

Tracking weak cues in global markets, Indian indices gave away their initial gains amid concerns over higher-than-expected US inflation data.

Investors are increasingly expecting the Fed to carry out a minimum 75 bps rate hike this month in order to combat high inflation.

On the domestic front, India’s WPI inflation moderated in June although it remains at the elevated levels, but is expected to ease further during the year.

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

4:07 PM

Rupee closes at record low of 79.88/$

Rupee had hit the 80/$ mark earlier in the session.

4:04 PM

Hindustan Zinc adds 4% as board approves dividend of Rs 21 apiece

 

4:02 PM

Market breadth favours losers by slight margin

 

4:01 PM

Sanofi to consider special dividend on July 20; stocks gains 1%

 

3:59 PM

BSE oil index moves 1.7% up; govt may consider lowering windfall fuel tax tomorrow

Govt to consider lowering windfall taxes on fuels, oil on July 15: TV reports

 

3:55 PM

Mazda rises 1% on starting production at new factory in Ahmedabad

 

 

3:52 PM

JSW Energy gains 1.7% as arm receives 300MW project from Solar Energy Corp

 

 

3:48 PM

Pharma, Auto, oil & gas packs defy trend; PSBs, IT top sectoral losers

 

3:45 PM

Broader markets close with sharper cuts vs benchmarks

 

3:44 PM

Nifty losers: Axis Bank, HCL Tech, Tech M, Hero Moto top drags

 

3:42 PM

Nifty winners: Sun Pharma, Dr Reddy's, ONGC rally

 

3:41 PM

Sensex Heatmap: Winners-losers split in half; Axis Bank top loser

 

3:39 PM

Closing Bell: Nifty closes below 15,950; 29 index shares decline

 

3:37 PM

Closing Bell: Sensex gives up day's gains to end in red for 4th day

 

3:30 PM

European markets reel under pressure from US inflation shock

 

3:22 PM

ALERT :: Centre extends Rebate of State and Central Taxes and Levies scheme

>> Scheme extended till March 31, 2024 for export of apparel/garments

3:14 PM

MARKET CHECK: Sensex off day's lows; energy stocks lead recovery

3:01 PM

ALERT :: SBI hikes MCLR rate by 10 bps w.e.f July 15

>> Rate hiked for a year

2:59 PM

NMDC hits 52-week low on weak earnings concerns; declines 7% in three days

For the first quarter ended June 2022 (Q1FY23), NMDC reported a 20 per cent year on year decline in sales at 7.66 million tonne (MT). However, in the month of June, the company recorded a 40 per cent decline in sales at 1.9 mt compared with 3.18 mt in the same month last fiscal. READ MORE

2:45 PM

Strength and opportunity: What rupee going 'international' will mean

A fully internationalised currency such as the US dollar, can be used in the invoicing of trade in goods and services, as well as dividend payments, foreign directs investments and more. Such an arrangement requires a full convertibility of the currency on current as well as capital account transactions. READ MORE

2:44 PM

TVS Supply Chain Solutions appoints Tarun Khanna as independent director

TVS Supply Chain Solutions, part of the TVS Mobility Group on Thursday said Tarun Khanna as been appointed as an independent director to its Board. Read here

2:35 PM

Pharma stocks gain mildly in a weak market; Sun Pharma up 2%

2:26 PM

IT stocks bleed; Wipro, TCS, HCL Tech hit 52-week lows

2:23 PM

Oil prices fall ahead of potential large US rate hike, possible inflation

Oil prices have tumbled in the past two weeks on recession concerns despite a drop in crude and refined products exports from Russia amid Western sanctions and supply disruption in Libya. READ MORE

2:13 PM

BSE 500:: Volume Shockers

eClerx Services has witnessed unusually high volume of around 10,200-odd shares on the BSE as against its five-day average volume of around 806-odd shares. Similarly, Sanofi India, Orient Electric, Centruy Plyboard and CCL Products have also witnessed a significant spike in volume in trades so far on Thursday.

2:06 PM

Q&A | Looking at domestic flows, peak pessimism hasn't reached yet: ICICI Sec CIO

Elevated inflation is a major concern, leading to front-loading of the monetary policy. Supply-chain concerns are at the core of sticky inflation, exacerbated by the Russia-Ukraine war. With China opening up, we expect some relief from inflation, along with recent corrections in commodities. READ INTERVIEW HERE

2:04 PM

S&P BSE Sensex near day's low, down nearly 200 points

1:57 PM

US inflation impact: Global recession fears to cool WPI inflation in India

Wholesale price inflation in India will dampen as 40-year high retail price inflation in the US, stoking fears of global recession via expected further monetary tightening by the Federal Reserve. The impact of global factors on retail price inflation will come with a lag effect. READ MORE