Sensex snaps 6-day winning streak ahead of RBI policy outcome, dips 52 pts

CLOSING BELL: PSU banks were the worst hit today with the Nifty PSB index down 1.75 per cent

4:06 PM

Expert view: Ajit Mishra, VP - Research, Religare Broking

Markets witnessed erratic swings throughout the weekly expiry day and finally settled on a flat note. The beginning was upbeat; thanks to firm global cues however the updates on lingering geopolitical tension between China-Taiwan led to nervousness and triggered a sharp dip.  The situation improved gradually as the day progressed, with noticeable traction in the IT, pharma, metal and FMCG pack. Finally, the Nifty index closed almost unchanged at 17,382 levels. Meanwhile, broader indices traded mixed wherein midcap gained over half a percent while smallcap slipped in the red.

 

Markets will be closely eyeing the outcome of MPC’s monetary policy meet on Friday. Before that, the performance of the global indices amid the fresh developments on China-Taiwan tension would dictate the trend in early trades. On the index front, the Nifty has been seeing consolidation on the expected lines however rise in the volatility is making life tough for the traders. We recommend preferring hedged positions and focusing on the defensive pack as well.

4:01 PM

Expert view: Vinod Nair, Head Of Research at Geojit Financial Services

"Taking positive momentum from the robust US economic data, the domestic market opened with gains, while worries over the US-China conflict kept investors on the defensive, leading to heavy volatility. Weak PMI and trade deficit data witnessed downside pressure on the Indian rupee & equity market. However, sustained foreign interest in Indian equities is led to buying on dips, resulting in a late recovery"

4:01 PM

Zomato in focus, ends 2.4 per cent higher on keen instituitional investors interest

Zomato gained 2.4 per cent on Thursday, and has rebounded 21 per cent from Wednesday's low of Rs 48.40 as over a dozen institutional investors bought the company's equity shares via block deals. READ MORE

4:00 PM

Chart Check:: Rupak De, Sr. Technical Analyst at LKP Securities

"Nifty remained highly volatile before closing flat for the day. On the higher end, it found resistance around 17,500 and slipped lower. The momentum indicator RSI is in bullish crossover. The trend is likely to remain sideways to negative as long as it remains below 17,500. On the lower end, support exists around 17,100-17,000."

3:57 PM

Subex hits second straight 20% upper circuit

Subex was locked at the 20 per cent upper circuit for the second straight day on Thursday after Jio Platforms inked pact with Subex HyperSense AI to augment their 5G product line. READ MORE

3:54 PM

Macrotech Developers shed over 6% on heavy volume

Shares of Macrotech Developers (Lodha) slipped on Thursday after nearly 2 per cent of total equity of the real estate developer changed hands on the BSE and National Stock Exchange (NSE) via block deals. READ MORE

3:52 PM

Deepak Fertlisers gained another 5%, stock up nearly 29% in last seven days post 3.3-fold jump in Q1 net

3:49 PM

NDTV hit a fresh 13-year high ahead of June quarter results

3:46 PM

Broader NSE indices end with marginal gains

3:45 PM

Top 5 Nifty 50 gainers and losers on Thursday

3:43 PM

NSE Nifty 50 regained over 200 points from the day's low

3:41 PM

Technical view: Kunal Shah, Senior Technical Analyst at LKP Securities

"The Bank Nifty index witnessed high volatility a day before the RBI Policy with movements on both sides. The bulls and the bears are trying to fight from both ends with support at 37,200 and resistance at 38,200 levels. The index needs to break on either side on a closing basis for a trending move on either side. The index is already trading in an overbought zone and a correction cannot be ruled out from the current level."

3:40 PM

Advance Decline ratio marginally in favour of the bears on BSE

3:38 PM

Sensex 30 Heatmap:: Pharma, IT stocks shine; RIL, banks whine

Sun Pharma, Nestle India and Infosys were the top gainers, while NTPC, SBI and Axis Bank were the major losers among the Sensex 30 stocks.

3:36 PM

Closing Bell: Sensex, Nifty end marginally in red

The S&P BSE Sensex was down 52 points at 58,299, while the NSE Nifty 50 slipped six points to 17,382.

3:31 PM

BSE 500:: Volume Shockers

Macrotech Developers witnessed unusually high volume of around 37.49 lakh shares so far on the BSE as against its five-day average volume of around 7,200-odd shares. Similarly, Thermax, Bajaj Electrical, Redington India and Kalyan Jewellers have witnessed a significant spike in volume in trades on Thursday.

3:24 PM

Nykaa Q1 revenue may rise 33% YoY, profit could jump on low base: Analysts

Brokerages have broadly estimated the Ebitda margins to rise to 4.5-4.8 per cent. In the year-ago period and the March quarter, the Ebitda margins stood at 3.3 and 4 per cent. READ MORE

3:18 PM

Worst of inflation behind us; mkt recovery to continue: Emkay's Sachin Shah

Investors have placed aside concerns around inflation, and rate hikes over the past few weeks, reflecting a significant decline in risk-off sentiment. The benchmark Sensex and Nifty indices have erased all losses for the calendar year 2022 with an impressive turnaround. READ FULL INTERVIEW

3:07 PM

Monetary policy: RBI likely to return interest rates to pre-pandemic levels

With Federal Reserve officials signaling a pause is out of the question until they see evidence of inflation easing, RBI watchers will be closely monitoring Governor Shaktikanta Das's remarks. READ MORE

3:00 PM

Companies raise funds via CP to lock in lower rates ahead of RBI policy

Ahead of the RBI's monetary policy, most companies are rushing to short-term debt market to raise funds through commercial papers to lock-in lower rates. READ MORE

2:53 PM

GAIL Q1 net profit jumps 51% to Rs 2,157 cr on bumper marketing margins

GAIL India posted a consolidated net profit of Rs 3,250.95 crore, or Rs 7.34 per share, in April-June compared to Rs 2,157.15 crore, or Rs 4.81 a share, net profit  in the same period a year back, the company said in a regulatory filing. READ MORE

 

2:46 PM

ALERT :: Dabur Q1 profit rises to Rs 441 crore

>> Revenue at Rs 2,822 crore

>> Ebitda at Rs 543.6 crore

2:44 PM

Navneet Education hits 3-yr high on strong Q1; stock soars 28% in 2 days

The advent of new educational policy would bring changes in the curriculum of the school syllabus and will directly impact the company's business positively, acting as a strong growth driver. READ MORE

2:38 PM

ALERT :: BHEL narrows standalone net loss of Rs 192 crore; stock spikes

>> Reports revenue at Rs 4,672 crore

2:33 PM

ALERT :: Balrampur Chini June quarter net slumps 84% YoY to Rs 11.62 crore

Balrampur Chini June quarter net profit slumped 84 per cent to Rs 11.62 crore in Q1FY23 from Rs 73.03 crore in Q1FY22. Total income was down 4.5 per cent YoY at Rs 1,094.59 crore.

2:29 PM

Market Check:: S&P BSE Sensex down 380 points amid high volatility

2:22 PM

Federal Bank becomes 1st to list Payment Gateway on new tax platform

Kerala-based Federal Bank has become the first bank to list its Payment Gateway platform on the TIN 2.0 platform of the Income Tax Department. READ MORE

2:15 PM

Asian Markets Update:: Sensex, Taiwan underperform in trades on Thursday

Source: Yahoo Finance

2:07 PM

Hard work, determination: Creating India's biggest crypto community

Ushering greater ease and clarity to tackle financial markets, Yash Gupta, Director of Aspire Now Global LLP is successfully building a community platform to train about investments. READ MORE

1:59 PM

Sensex 30 Heatmap:: Infosys, FMCG hold fort; RIL, banks slip