Investors book profit day ahead of RBI policy outcome; Sensex falls 568 pts

CLOSING BELL: The NSE Nifty50, held the crucial 16,400-mark to shut shop at 16,416, down 153 points

4:13 PM

Nifty tech view at close: Upside resistance placed at 16,600-16,800

The Nifty Bears took control once again leading to a fall in the index towards the crucial support zone 16,400-16,350.

The volatility is likely to continue ahead of the RBI policy and a clear-cut direction will be visible post the outcome.

The upside resistance is placed at the 16,600-16,800 zone where heavy call writing is visible

 

The Bank Nifty index continues to witness selling pressure ahead of the RBI policy and ended on a negative note.

The index is stuck in a broad range between 34,500-36,000 levels and a break on either side will lead to further trending action.

The undertone remains weak as long as it stays below the level of 36,000 where the highest open interest is built up on the call side.

Views by Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

 

4:10 PM

Rupee trims some losses to close at 77.71 vs dollar

 

4:07 PM

EXPERT VIEW: RBI growth, inflation forecast to determine market trend

The volatility in the market is forcing investors to stay sidelined ahead of the RBI’s policy announcement.

The market has factored a hike up to 50bps of repo rate & CRR, but any further stricter measures to clamp liquidity due to lingering inflation will have ramifications on the market trend.

Apart from the monetary measures, the RBI’s guidance on growth and inflation forecast will determine the market trend.

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

 

4:04 PM

Telecom stocks in focus: Report says cabinet to consider 5G auction on Wednesday

 

4:01 PM

IEX gains 1% on reporting 16% YoY rise in May volumes at 7,596 million units

 

3:58 PM

ICICI Lombard sheds 4% on buzz of large block deal

As per CNBC TV-18, leading corp entity today sold its entire stake in the company. 

 

 

3:55 PM

LIC continues to be on weak footing; ends 20% down from issue price

 

3:51 PM

HG Infra gains over 3% on Rs 4,971 cr-order win from Adani Transport

 

3:50 PM

BSE500 stocks to hit 52-week lows today: Aarti Ind, Birla Corp, Aurobindo Pharma

check full list

 

3:46 PM

Sectoral trends: Consumer durables worst hit, down 2%; Auto, oil & gas sole gainers

 

3:42 PM

Broader markets: Mid & SmallCaps close with leaner cuts vs 1% fall in Sensex

 

3:40 PM

Nifty50: Top five gainers led by energy, auto stocks

 

3:38 PM

Nifty50: Top five losers at close; slip 3-4%

 

3:37 PM

Sensex Heatmap: Only 5 stocks hold fort; Titan, Dr Reddy's top laggards

 

3:35 PM

Closing Bell: Markets under pressure a day ahead of RBI policy decision; Nifty ends near 16,400

 

3:32 PM

Closing Bell: Benchmark indices end in red for third day; Sensex sheds 568 pts

 

3:27 PM

Global markets: US stock futures off lows

source: finance.yahoo.com

3:18 PM

Expert call on LIC: State insurer good bet for long-term investors

The insurance giant, LIC Ltd. is currently trading below its IPO price. The issue was priced at a price to the embedded value of 1.1x, which is a discount compared to its domestic as well as global peers.

This valuation discounts concerns with the company like losing market share to private players, lower profitability & revenue growth compared to private players, lower VNB margins and short term persistency ratios.

However, we believe India's highly underserved life insurance market is still in its infancy and is well-positioned to capitalize on the enormous growth potential.

LIC has a number of competitive advantages, including a strong brand value, a massive network of agents, and an enviable distribution network. So, investors with a long-term view can buy this stock at CMP and follow a buy on dip strategy

Views by Santosh Meena, Head of Research, Swastika Investmart on LIC.

3:08 PM

Global stock markets mixed as Wall Street bond sell-off; yen at 2-yr low

Global stock markets were mixed Tuesday after a bond sell-off on Wall Street fuelled anxiety about a possible US economic slowdown and Australia raised interest rates. Read more

3:01 PM

Insurance stocks trade tepid in a weak market

2:57 PM

Brent crude cools off to $118 a barrel

2:48 PM

Muted trade for European markets

2:41 PM

Fundamentals for oil weaken, witness 1st surplus since June 2020: Goldman

Modest declines in the Russian exports, record large sales by Strategic Petroleum Reserve and severe Chinese lockdowns brought the oil market to its first surplus since June 2020, said Goldman Sachs. READ HERE

2:36 PM

Apar Industries rallies 36% in 8 days on strong Q4 results

In the past eight trading days, the stock of the electric equipment company has soared 36 per cent after it reported healthy earnings for the quarter ended March 2022 (Q4FY22). READ HERE

2:28 PM

Nifty Realty slips 2%; IB Realty at bottom of the heap

2:19 PM

Energy basket up in a weak market; ONGC gains over 5%

2:09 PM

Investors lose Rs 1.2 trn as LIC shares tumble 20% below issue price

Those investors who had put their money in LIC IPO had experienced a heavy depreciation in their portfolio, as the shares of the insurance major have been tumbling ever since its exchange listing. READ MORE

2:01 PM

BSE 500:: Stocks recovering smartly from the lows of the day

General Insurance has surged nearly 7 per cent from its low of the day so far. Similarly, Adani Cyient and Mastek have logged notable gains from their respective lows of the day.

1:54 PM

Retail investors acting like shock absorbers in stock market: Sitharaman

Amid continuing volatility in the stock market, Finance Minister Nirmala Sitharaman on Tuesday said retail investors seem to act as shock absorbers even when foreign portfolio investors went away. Speaking at an event of the corporate affairs ministry as part of the Azadi ka Amrit Mahotsav, Sitharaman said that during the pandemic, there has been a very significant increase in retail investor numbers. READ MORE

1:47 PM

ICICI Lombard slips 5%; stock hits lowest level since May 2020

Shares of ICICI Lombard General Insurance Company hit a two-year low of Rs 1,144 and slipped 5 per cent on the BSE in Tuesday’s intra-day trade, on concerns of further waves of COVID-led claims. The stock of general insurance company traded at its lowest level since May 2020 and underperformed the market due to disappointing earnings. READ MORE