Strong first quarter could help STT mop-up surpass Budget Estimates for FY22, say govt officials
A mild recovery post a gap-down start quickly dismantled during the last hour of the session as market participants offloaded metal and rate-sensitive counters
Benchmark indices Sensex and Nifty retreated from record high levels on Wednesday following intense selling in Reliance and HDFC twins as investors turned cautious ahead of the outcome of the US Federal Reserve's policy meeting. The 30-share BSE index ended 271.07 points or 0.51 per cent lower at 52,501.98. It had closed at an all-time high of 52,773.05 on Tuesday. The broader NSE Nifty retreated from a record and declined 101.70 points or 0.64 per cent to 15,767.55. PowerGrid was the top laggard in the Sensex pack, shedding around 2 per cent, followed by IndusInd Bank, Reliance, L&T, UltraTech Cement and Bajaj Finance. On the other hand, Nestle, NTPC, ONGC, Bajaj Finserv Hindustan Unilever and Infosys were among the gainers. Investors kept an eye on the two-day US Federal Reserve meeting, which is set to conclude on Wednesday. Lack of fresh trigger from overseas markets also weighed on the local stocks as Asian markets closed mixed. Bourses in Shanghai, Hong Kong and Tokyo ended
In the broader markets, the BSE MidCap index slipped 0.95 per cent while the BSE SmallCap index dipped 0.68 per cent.
Asian Paints, Axis Bank, ICICI Bank, Britannia Industries, SBI Life, and Indian Oil Corporation ended the day as the top gainers
In the broader markets, the BSE MidCap index ended the day in the red, down 0.7 per cent, amid steep losses in Adani Group stocks and BHEL
Strong and sustained retail interest can counter-balance FPI selling; small and midcap may outperform
This comes amid increased buying in index heavyweights and supportive global trends.
Backed by firm global cues, the frontline S&P BSE Sensex hit an all-time-high of 52,641.5 while the broader Nifty50 index claimed 15,835.5-mark in morning deals
All that happened in the markets today
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Domestic markets surrendered early gains to finish deep in the red on Wednesday as profit-booking emerged in Reliance Industries, banking and infra stocks amid a weak trend in global equities. Concerns over frothy valuations and a depreciating rupee also sapped investor confidence, traders said. After a firm opening, the 30-share BSE Sensex suddenly succumbed to selling pressure in mid-afternoon trade. It finally closed 333.93 points or 0.64 per cent lower at 51,941.64, extending its losing streak to the second session. On similar lines, the broader NSE Nifty slumped 104.75 points or 0.67 per cent to end at 15,635.35. L&T was the top loser among the Sensex companies, shedding 1.80 per cent, followed by Reliance Industries, Bajaj Finserv, IndusInd Bank, Bajaj Finance, SBI, Maruti, Axis Bank and Bajaj Auto. On the other hand, PowerGrid, NTPC, Titan, HCL Tech and Asian Paints were among the gainers, spurting up to 3.42 per cent. "Domestic equities fell sharply as selling pressure in
All that happened in the markets today
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In this podcast, Business Standard caught up with CapitalVia Global Research's Gaurav Garg and Angel Broking's Milan Desai to understand where is the market headed, what are the near-term challenges
Nifty50 hit record peak after a tweet by the Prime Minister's Office said PM Narendra Modi will address the nation at 5 PM later in the day
That said, market participants continued to buy stocks in the broader markets after the RBI announced a special, Rs 15,000 crore-liquidity window
Titan clocked a massive rally of 7 per cent to end the day as top gainer, followed by ONGC, Kotak Bank, Bajaj Finance, Axis Bank, HDFC Bank, and L&T
The BSE MidCap index, that hit a record peak of 22,164 earlier today, closed 1.7 per cent higher at 22,141 levels
Volumes remained thin as the 75 per cent peak margins norms come into effect from today