MARKET WRAP: Sensex slumps 709 pts on global sell-off; Voda Idea slips 13%

All that happened in the markets today

12:19 PM

Here's how you can identify and avoid 'bull traps' while trading

A 'bull trap' is a classic case of a false breakout. In general, buyers enter a trade with strong conviction of an upside. However, at times, the stock fails to deliver the upward move and instead hits the trader's stop loss or support levels.

 

Such instances not only affect the trader's morale, but they also start to doubt their trading strategies. Every other triggered stop loss then induces “fear of uncertainty” in the trader and the feelings of “staying away” enters his/her system. READ MORE

12:11 PM

MARKET CHECK

12:04 PM

MARKET UPDATE:: Energy stocks slip, S&P Energy index falls 1%

11:56 AM

Muthoot Finance hits new lifetime high, zooms over 100% from March lows

Shares of Muthoot Finance gained 3 per cent and hit a new high of Rs 995 on the BSE on Thursday in an otherwise range-bound market. The gold finance company's stock was trading higher for the third straight day and has surpassed its previous high of Rs 954, touched on February 25, 2020. READ MORE 

11:52 AM

NEWS ALERT :: Uco Bank, UBI cut interest rates

>> Union Bank of India cuts lending rates by 10 bps across tenures

>> Uco Bank cuts lending rates by 30 bps 

 

11:47 AM

MARKET UPDATE:: Shankara Building Products hits 20% upper circuit

11:41 AM

NEWS ALERT :: PM Modi at Annual Plenary Session of the Indian Chamber of Commerce

11:33 AM

Telecom stocks trade cautiously ahead of SC's AGR hearing

COMPANY	LATEST(rs)	CHG(%)
VODAFONE IDEA	10.72	-0.92
BHARTI AIRTEL	567.85	0.11
TEJAS NETWORKS	51.70	-4.96

11:23 AM

NEWS ALERT | PM Modi gives inaugural address on the occasion of 95th Annual Day of Indian Chamber of Commerce (ICC)

11:18 AM

Nifty IT index trades 1% lower, top sectoral loser at this hour

11:03 AM

Top losers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
ESAB INDIA	1497.00	-6.52
GE SHIPPING CO	221.10	-5.91
HFCL	13.37	-4.98
TEJAS NETWORKS	51.70	-4.96
DEWAN HSG. FIN.	15.35	-4.95

10:52 AM

MARKET CHECK

10:43 AM

Shriram Transport Finance gains over 6% post March quarter results

Shares of Shriram Transport Finance rose 6.34 per cent to Rs 675.75 on the BSE on Thursday after the company reported a 7.5 per cent growth year-on-year (YoY) growth in March quarter (Q4FY20) revenue to Rs 4,173.04 crore. The non-banking financial company's consolidated net profit, though, declined 70 per cent YoY to Rs 223.38 crore for the quarter, largely because of the credit loss provision of Rs 909.64 crore the company made on account of the Covid-19 impact. READ MORE 

10:36 AM

Financial sector drags down Nifty's P/B value below historical average

With the Nifty going past 10,000 points recently, the price-to-earnings (P/E) multiple has again become expensive.

 

However, market players appear to be taking comfort in the fact that the price-to-book (P/B) value — another parameter to gauge market valuation — is at 2.9x, much lower than its 20-year average of 3.5x. This makes the broader market a value-buy at current levels, say experts. READ MORE

10:28 AM

IndusInd Bank extends gain on promoter stake hike plans, soars 30% in 1 wk

Shares of IndusInd Bank were trading higher for fifth straight day, rallying 8 per cent to Rs 541 on the BSE on Thursday, after its promoters said that they would acquire additional shares of the bank from the secondary market. The stock of the private sector lender has soared 30 per cent in the past one week, as compared to 0.53 per cent rise in the S&P BSE Sensex. It was trading at its highest level since March 18, 2020. READ MORE