Fag-end buying lifts Sensex 214 pts; Nifty nears 17,400; IT stocks dazzle

CLOSING BELL: All sectors, except IT and Financial Services, witnessed selling pressure today, led by auto, pharma, and public sector banks

4:05 PM

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

"Amidst the geopolitical storm affecting the global markets, domestic markets moved in-line with its global peers. The global market is also concerned about recessionary risk. On the domestic front, the major trigger this week will be the RBI’s policy meeting outcome, where the market is largely expecting a 25-50bps rate hike"

 

4:05 PM

SpiceJet zoomed over 12% amid buzz of partial stake sale by promoter

According to reports the company's promoter Ajay Singh is exploring possibility of a partial stake sale in the company. Currently, Ajay Singh and his family hold 59.40 per cent stake in SpiceJet.

4:00 PM

Adani Power advanced 3.5%, Q1 net soared 17-fold YoY to Rs 4,779.86 cr

3:58 PM

Devyani International jumps 5% on strong Q1 show

Devyani International hit an over six-month high and ended 5 per cent higher after the company reported a strong performance across its core brands in the quarter ended June 2022. The company’s revenue from operations grew 100 per cent YoY to Rs 705 crore.

3:56 PM

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

"The Bank Nifty index ahead of the RBI policy witnessed sideways action and ended on a flat note. The index needs to close above 38,200 for a continuation of the uptrend towards the level of the 38,500-38,700 zone. The index downside support stands at 37,500 and if breached will witness further selling pressure towards the 37,000 zone. The index will give a clear direction once a policy is announced."

3:56 PM

eClerx Services gains 4% on bonus issue proposal

eClerx Services surged over 4 per cent as the company's board will consider a bonus issue proposal in its upcoming meeting on August 9, 2022.

3:53 PM

Buzzing stock: Zomato clocks heavy volume

Zomato ended 0.3 per cent lower after an undisclosed shareholder offered to sell 612 million shares at a discount, a stake matching that held by Uber Technologies. The stock tanked to a low of Rs 44.45 in intra-day trades and recorded heavy volumes of around 599.64 million shares on the NSE. READ MORE

3:45 PM

Broader market underperforms: Midcaps, Smallcaps end with notable losses

3:43 PM

Secotoral Indices: Nifty IT outperforms peers with a wide margin

3:41 PM

Top Five Nifty 50 gainers and losers on Wednesday

3:39 PM

Sensex 30 Heatmap:: IT stocks lead market recovery; auto, select financials slip

3:37 PM

NSE Nifty 50 shuts shop at 17,388, up 43 points

3:35 PM

Closing Bell: Sensex ends 214 points higher

The S&P BSE Sensex ended 214 points higher, after having gained more than 600 points from the lows of the day.

3:24 PM

Yes Bank-DHFL case: ED attaches Rs 415 cr worth assets of builders

Assets worth Rs 415 crore of arrested Maharashtra builders Avinash Bhosale and Sanjay Chhabria have been attached in Yes Bank-DHFL bank loan fraud case, the Enforcement Directorate said. READ MORE

3:15 PM

ALERT: Adani Power Q1 net soars 17-fold YoY to Rs 4,779.86 cr

Adani Power Q1 net soars 17-fold YoY to Rs 4,779.86 crore; Total income grew 115 per cent to Rs 15,509 crore.

3:11 PM

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

IDBI Bank has surged nearly 16 per cent from its low of the day so far. Similarly, SpiceJet, Zomato, Paytm and New India Assurance were some of the other significant movers from the lows of the day on Wednesday.

3:02 PM

I-T dept likely to make PAN mandatory for cryptocurrency investors

The income-tax department may make a permanent account number (PAN) mandatory for cryptocurrency investors, in line with the demat account rules for stock market transactions, according to two people privy to the discussion. READ MORE

2:54 PM

Sensex 30 Heatmap:: IT shares firm; Auto, financials witness profit-taking

2:44 PM

Britannia Q1 revenue may rise up to 15% YoY; 2% dip in PAT seen: Analysts

Analysts, on average, expect the company to post a 2 per cent drop in core profit-after-tax (PAT) to Rs 378 crore in Q1FY23 from Rs 387 crore in the year-ago period. READ MORE

2:37 PM

Global Check:: US, UK futures hold marginal gains

Source: Investing.com

2:30 PM

BSE 500:: Volume Shockers

EPL has witnessed unusually high volume of around 23.75 lakh shares so far on the BSE as against its five-day average volume of around 17,400-odd shares. Similarly, Zomato, Alkem Lab, eClerx Services and MOIL have witnessed a significant spike in volume in trades on Wednesday.

2:23 PM

Paytm Q1 preview: Net loss could narrow to Rs 646 cr on solid lending biz

India's biggest fintech player, One97 Communication-owned Paytm, is set to report its June quarter (Q1FY23) results on Friday, August 5. Analysts expect the company to narrow its net loss on a sequential basis on the back of steady loan disbursements and new device addition. READ MORE

2:17 PM

Market Check:: S&P BSE Sensex off low, down 40-odd points

2:12 PM

Rupee strength unsustainable; bet on chemicals, OMCs in near-term: Analysts

Whether the recent strength in the currency will sustain or not depends on the monetary policy trajectory of the Reserve Bank of India, foreign flows, and crude oil prices, experts said. READ MORE

2:03 PM

Vodafone Idea to target premium customer base for its 5G services

On the brink of bankruptcy until recently, Vodafone Idea (Vi) has won the 5G spectrum for Rs 18,800 crore in 17 circles. But this will not be enough for the telecommunication (telecom) operator to retain its customer base, observe analysts. READ MORE

1:57 PM

BSE 500:: Stocks falling significantly from the highs of the day

Edelweiss Financial has slumped 9 per cent from its high of the day so far. Similarly, Lemon Tree, eClerx Services, Tanla Platforms and Brightcom Group were some of the other prominent stocks to lose notable ground from the highs of the day so far on Wednesday.

1:50 PM

July PMI services growth slips to 4-month low on rising inflation

The S&P Global India Services PMI decreased to 55.5 in July 2022 from 59.2 in June, and below market consensus of 58.5, pointing to the weakest expansion in the sector since March, as weaker sales growth and inflationary pressures restricted the latest upturn in business activity. READ MORE

1:46 PM

Devyani International gains 7%, hits over 6-month high on strong Q1 results

Shares of Devyani International (DIL) hit an over six-month high of Rs 188.40, gaining 7 per cent on the BSE in Wednesday’s intra-day trade after the company reported a strong performance across its core brands in the quarter ended June 2022 (Q1FY23). READ MORE

1:40 PM

Asian Markets Update:: A mixed day

Source: Yahoo Finance

1:29 PM

India's trade deficit likely to remain above $20 billion: Barclays

"While we still expect the trade deficit to hit US$265 billion, the risks are skewed towards an even larger deficit, which poses risks to our forecast for the current account deficit to widen from the present $115 billion for FY22-23," Rahul Bajoria, chief India economist at Barclays said in a note. READ MORE