Sensex down 208 pts, Nifty below 18,650 day head of RBI decision; PSBs gain

CLOSING BELL: Among sectors, the Nifty IT index fell 1.5 per cent, while the Nifty PSU Bank index gained 1.2 per cent

4:09 PM

Nifty view: Index may trade sideways in 18,600 - 18,800 band

"Investors mostly remained on the sidelines as they preferred waiting for the RBI monetary policy announcement. The Nifty found support around the previous low before closing a bit higher. The trend may remain sideways as long as the index remains within the bands of 18,600 - 18,800. Any decisive move on either side will induce a directional move."

 

- Rupak De, Senior Technical Analyst at LKP Securities

4:08 PM

Bank Nifty Outlook: Short covering likely above 43,500

"The BANK NIFTY index witnessed mild profit booking a day before the key event of RBI policy. The index is stuck in a broad range between 42,800-43,500 and a break on either side post the event will witness some trending moves. The undertone remains bullish and if holding long positions the level of 42,800 should act as a strict stop loss. The index if breaks above 43,500 will witness a sharp short covering move on the upside towards 44,200-44,500 levels.

 

- Kunal Shah, Senior Technical Analyst at LKP Securities

4:07 PM

COMMENT:: Markets fall amid unfavourable global cues

"Bears kept pushing domestic indices lower amid unfavourable global cues, with significant selling in metals and IT stocks. The mood was dampened by renewed concerns over policy tightening by the Fed in response to strong economic data out of the US. However, while easing COVID curbs in China benefited the demand outlook, fresh sanctions on Russian oil further added volatility to global oil markets. Investors at home await the RBI policy meet tomorrow, which is expected to slow the pace of rate hikes, in light of easing food prices"

 

- Vinod Nair, Head of Research at Geojit Financial Services.

4:03 PM

Adani Group shares trade firm in weak market

Shares of Adani Group companies were trading firm, gaining up to 3 per cent on Tuesday in an otherwise weak market amid positive newsflow. Adani Enterprises, the flagship company of Adani Group, was up 3 per cent at Rs 4,057.35. It was trading close to its record high level of Rs 4,098.10 touched on November 16. READ MORE

4:01 PM

Ion Exchange hits new high; gains 6% in two days on securing IOCL order

In the past one month, the stock price of Ion Exchange has zoomed 41 per cent, as compared to 2.7 per cent rise in the S&P BSE Sensex. The company recently won Rs 343.36 crore order from Indian Oil Corporation. READ MORE

3:59 PM

Westlife Foodworld soars 6%, hits new high on strong revenue growth guidance

Shares of Westlife Foodworld (WFL), the master franchisee of McDonald's restaurants for West and South India, moved higher by 10 per cent to Rs 815.25, hitting a fresh record high on the BSE. READ MORE

3:57 PM

Five-Star Business Finance hits 20% upper limit

Shares of Five-Star Business Finance Ltd (FSBF) zoomed 20 per cent to Rs 624.35, hitting its highest level since listing on Tuesday. The stock of the non-banking finance (NBFC) made its market debut on November 21. The stock of FSBF is now 31 per cent higher against its issue price of Rs 474 per share. READ MORE

3:55 PM

Bajaj Consumer rallies 5% in intraday deals as board to consider share buyback on Friday

Shares of Bajaj Consumer Care gained 5 per cent at Rs 184.65 in intra-day deals, after the personal care products' company announced that it's board will meet on Friday, December 9, to consider share buyback proposal. READ MORE

3:53 PM

Astra Microwave jumps 5%; board to mull Rs 400 crore-fund raise on Friday

In the past three months, the stock of the aerospace & defence company has underperformed the market by falling 2 per cent, as compared to a 6 per cent rise in the S&P BSE Sensex. READ MORE

3:51 PM

Market Breadth negative; 144 stocks hit new 52-week high on BSE

3:50 PM

BSE Smallcap Heatmap:: PSB zooms 20%; EaseMyTrip tanks 9%

3:48 PM

BSE Midcap Heatmap:: IDBI soars 8%; PolicyBazaar sheds 4%

3:45 PM

Broader markets end marginally lower in line with benchmark indices

3:45 PM

Rupee cracks, slumps to 82.61/ $

Source: Bloomberg

3:40 PM

Nifty 50:: Top Losers on Tuesday - BPCL, Hindalco and others

3:39 PM

Nifty 50:: Adani Enterprises, HUL, Nestle top gainers chart

3:37 PM

Sensex 30 Heatmap:: 14 Gainers v/s 16 Losers

3:36 PM

CLOSING BELL:: Nifty 50 ends at 18,643, down 58 points

3:34 PM

CLOSING BELL:: S&P BSE Sensex ends 208 points lower at 62,626

3:23 PM

Global Check:: US, UK stock futures exhibit mixed trend

Source: Investing.com

3:14 PM

BSE 500:: Trent, Quess Corp, NESCO among volume shockers

Trent has witnessed unusally high volume of around 2.90 lakh shares so far on the BSE as against its five-day average volume of around 10,800-odd shares. TCNS Clothing, Sapphire Foods, Quess Corp and NESCO were the other prominent volume toppers.

3:06 PM

World Bank raises India FY23 GDP forecast to 6.9% from 6.5% in October

The World Bank raised its gross domestic product (GDP) growth forecast for India in the current financial year (FY23) to 6.9 per cent from 6.5 per cent, on the back of the economy's relative resilience to external headwinds, and the 'strong outturn' in the July-September quarter. READ MORE

2:56 PM

Five-Star Business Finance zooms 19%, hits highest level since listing

Shares of Five-Star Business Finance Ltd (FSBF) zoomed 19 per cent to Rs 619.50, hitting its highest level since listing, on the BSE on Tuesday. The stock of the non-banking finance (NBFC) made its market debut on November 21. The stock of FSBF is now 31 per cent higher against its issue price of Rs 474 per share. READ MORE

2:48 PM

NEWS ALERT:: Bharti Airtel launches 'World Pass' one pack for travel across 184 countries

In order to make staying connected easy, intuitive and compelling, Airtel has launched ‘Airtel World Pass’. The World Pass revolutionises the experience for all international travel because it works seamlessly across 184 countries, the company said in a release.

2:37 PM

Market Check:: Sensex languishes in red, down almost 300 points

2:28 PM

Tata Coffee, CCL Products: Tea, Coffee stocks to brew more gains in 2023

After a breakout, stocks like Tata Coffee, CCL Products, Jay Shree Tea & Industries and McLeod Russel India may easily see up to 20 per cent gains. READ MORE

2:18 PM

NEWS ALERT:: Time Technoplast releases part pledged shares

Time Securities Services Private Limited, promoter of the Time Technoplast, has got release of pledge of 2,00,000 (0.09%) equity shares from a lender. Consequent to the release, the promoter's pledge of equity shares of Time Technoplast has reduced to 2.78% from 2.87% of the total paid-up equity share capital. 

2:08 PM

Cement companies plan to hike prices by Rs 10-15 per bag in Dec: Report

The price of cement is hardening across the country and since August this year, the rates have gone up by Rs 16/per bag, said Emkay Global Financial Services Ltd. READ MORE

 

1:59 PM

Coal production rises over 11% to 75.87 million tonnes in November

India's total coal production went up by 11.66 per cent to 75.87 million tonnes in November 2022 from 67.94 million tonnes recorded during the corresponding period of last year. READ MORE

1:47 PM

World Bank raises India's FY23 GDP growth forecast by 40 bps to 6.9%

World Bank revised upwards its GDP growth forecast for India to 6.9 per cent for 2022-23 from 6.5 per cent earlier. Read more