MARKET: Sensex slips 422 pts amid a sell-off in RIL; Nifty ends at 11,203

All that happened in the markets today

2:10 PM

MARKET UPDATE :: Sensex extends decline, down over 300 pts

2:07 PM

Rupee Closing

Rupee ends higher at 74.80 per US dollar vs Tuesday's close of 74.84/$

1:58 PM

COMMENT :: Rahul Gupta, Head of Research- Currency, Emkay Global

The USD/INR spot is trading in a very narrow range of 74.75-75. Today's US Fed policy will provide some clarity over the trend. We don't expect a rate action by the Fed today. If the-policy turns out to be ultra-easy, then we can see some fall in the dollar index and may get reflected in USD/INR spot. However, in our view, the policy will be a reiteration of past measures. So, 74.50 will keep acting as crucial support while 75 will act as immediate resistance. Unless 75 breaks, we will see the spot trading in between 74.50-75

1:56 PM

Insurance companies turn net buyers of equities after eight years

Insurance companies have turned net buyers of Indian equities after eight years. So far this year, domestic institutional investors (DIIs) have purchased stocks worth Rs 80,000 crore, of which mutual funds (MFs) account for Rs 33,700 crore, implying net buying by insurers.

 

Market watchers say this buying has provided heft to the market at a time when foreign portfolio investor (FPI) flows have been choppy and MF investments have moderated owing to a slowdown in investor flows into equity schemes. READ MORE

1:48 PM

MARKET CHECK

1:41 PM

IPO UPDATE:: Mindspace Business Parks REIT offer subscribed 3.65x so far on Day 3

1:39 PM

Jet Airways loss widens to Rs 5,536 crore in 2018-19 over surge in expenses

The full service carrier, which shuttered operations in April last year, had a loss of Rs 766.13 crore. These figures are for standalone comprehensive losses.

 

In 2018-19, the airline's total income declined to Rs 23,314.11 crore from Rs 23,958.37 crore in the year-ago fiscal, according to a regulatory filing. READ MORE

1:32 PM

June Quarter Result :: Dr Reddy's Labs reports profit of Rs 579 crore

>> Revenue at Rs 4,418 crore

>> EBITDA at Rs 1,162.2 crore 

>> EBITDA margin comes in at 26.3%

1:24 PM

Covid-19 provisioning erodes 25% operating profits of top 5 pvt banks in Q1

With the additional provisioning in Q1, total Covid-19 provisioning of this set of lenders, as of June 2020, stood at 0.7 per cent of their total advances, on aggregate level, more than double in the previous quarter (around 0.3 per cent). However, provisioning has gone up, it is likely to remain higher in the near term. READ MORE

1:15 PM

IndiGo to report June quarter result today; here's what analysts expect

Analysts at Motilal Oswal Financial Services expect de-growth in revenue passenger kilometer (RPK) – a metric that shows the number of kilometers traveled by paying passengers -- by 88 per cent YoY/QoQ at Rs 260 crore due to ban on air travel. Additionally, it expects yields to decline by 10 per cent YoY and 2 per cent sequentially to Rs 370 crore. READ MORE

1:06 PM

June Quarter Result :: Colgate Palmolive's net profit grows to Rs 198 crore

>> Revenue comes in at Rs 1,040.6 crore

>> EBITDA margin comes in at 29.6%

>> EBITDA improves to Rs 308 crore from Rs 299.8 crore YoY

1:00 PM

Nifty PSU Bank index rallies 4% ahead of PM Narendra Modi's review meeting

Shares of public sector banks were in focus on Wednesday ahead of Prime Minister Narendra Modi's scheduled meeting with the chief executives of state-owned and private banks. Nifty PSU Bank index gained as much as 3.7 per cent in an otherwise subdued market in the intra-day trade today, while Nifty Bank index added 1 per cent. READ MORE

12:51 PM

India's business outlook worsening, RBI may cut rates again

The outlook for India's reeling economy has worsened again as business activity slows and Covid-19 infections soar, and will probably prompt the Reserve Bank of India to cut interest rates again soon, a Reuters poll of economists suggests. The latest findings echo recent criticism of New Delhi's $266 billion economic rescue package, which does not include new spending, tax breaks or cash support, suggesting more will be needed to turn the economy around. READ MORE

12:40 PM

BUZZING STOCK:: Adani Gas zooms 8%

12:38 PM

MARKET CHECK:: Top 5 gainers on the BSE at this hour