Sensex, Nifty end flat as margin rules kick in; India VIX jumps 3%

Volumes remained thin as the 75 per cent peak margins norms come into effect from today

3:19 PM

Breakout or breakdown? How to identify and analyse these chart patterns

Breakout and breakdown are two distinct aspects of technical analysis. Breakout means a bullish up move and breakdown suggests a negative (downside) move.

 

Both have their own significance in a trading setup, and hence, various strategies are developed to understand the breakout and breakdown patterns in the stock market. A breakout indicates an up move that conquers the resistance/ neckline/ selling pressure of assets. READ MORE

3:11 PM

Oil check :: Brent hovers around $71/barrel-mark

3:05 PM

Magma Fincorp hits 5% upper circuit for 2nd straight day, nears 52-wk high

Shares of Magma Fincorp were locked in 5 per cent upper circuit for the second straight day, up 5 per cent at Rs 143.05 on the BSE on Tuesday after the company appointed Adar Poonawala as its chairman as part of a management overhaul following the Poonawala-controlled Rising Sun Holdings acquiring a controlling stake in it. READ MORE

2:51 PM

May Auto Sales :: TVS Motor registers sales of 166,889 units vs 58,906 units in May 2020

>> Domestic sales in May 2021 is lower due to lockdowns in many states, but retails continue to be ahead of despatch.

>> Two-Wheeler: Total sales at 154,416 units in May 2021 as against sales of 56,218 units in May 2020. Of these, Motorcycle registered sales of 125,188 units (26,772 units in May 2020) and Scooter sales were at 19,627 units (16,120 units in May 2020). Domestic two-wheeler registered 52,084 units in May 2021 as against sales of 41,067 units in May 2020

>> Three-Wheeler: Sales at12,473 units in May 2021 as against sales of 2,688 units in May 2020. 

>> International Business: Total exports registered sales of 114,674 units in the month of May 2021 as against sales of 17,707 units in May 2020

2:42 PM

Credit losses set to decline for most Asia Pacific banks, says S&P

Credit losses are set to fall across most Asia Pacific banking systems over the next two years, S & P Global Ratings said on Tuesday. This is partly because targeted assistance to stretched borrowers will likely continue in many places until pandemic-related challenges substantially abate. READ MORE

2:32 PM

Q&A | Our base case projection for Nifty is 17,500 in 12-18 mths: Dhananjay Sinha

As the market is expecting a much better economic scenario in the post-Covid world, fiscal 2021-22 (FY22) and FY23 earnings may grow at an average rate of 27 per cent. Moreover, as the moderation in earnings will have any significant impact on the market. Hence, there could be around 15 per cent upside on Nifty. READ FULL INTERVIEW HERE

2:23 PM

NEWS ALERT :: Nucleus Software informs of server breach

>> A breach on our servers was noted and brought to our notice and a ransomware demand was made to us, the company informed exchanges.

 

>> We have already initiated steps to take care of the issues. Our cybersecurity team and a specialist team of cyber-specialists is already on the job. 

 

>> So far as sensitive data is concerned, we’d like to assure our customers that there is NO financial data of any customer available/stored with us and therefore the question of any leakage or loss of client data does not arise.

 

2:22 PM

MARKET UPDATE:: Broader indices underperform benchmarks; India VIX up 3%

2:15 PM

Q&A | Don't want to fly in private jet, own a yacht: Zerodha CEO Nithin Kamath

After building the country's largest and most-profitable pure-play brokerage, Nithin Kamath, founder and CEO of Zerodha has to stave off pressure from investors who want a piece of the company. Nithin and his brother Nikhil Kamath can take home a salary of up to Rs 100 crore each, according to a special resolution passed by the company’s board that was reported lasted last week. Seema Patil, Nithin’s wife who has been promoted to whole-time director, can expect the same salary deal as well. READ MORE

2:07 PM

Adani Enterprises shares hit new high; m-cap touches Rs 1.5-trillion mark

Shares of Adani Enterprises, the flagship company of Gautam Adani-led Group companies, hit fresh record high of Rs 1,371 apiece on the BSE after they rallied 4.2 per cent in Tuesday's intra-day session. It surpassed its previous record high of Rs 1,350.5 touched on May 19, 2021. At 1:40 PM, the stock of the firm was ruling 3.8 per cent highet at Rs 1,366 per share as against a 0.08 per cent gain in the benchmark S&P BSE Sensex. READ MORE

2:01 PM

Stocks that hit 52-week high on BSE today in an otherwise volatile market

Company	PRICE(rs)	52 WK HIGH	CHG(%)
A B B	1684.70	1751.00	1.01
Adani Enterp.	1365.60	1371.30	3.79
Aegis Logistics	347.40	364.35	-3.14
Balkrishna Inds	2180.30	2253.90	-0.93
Capri Global	522.45	537.00	13.40

1:51 PM

European markets check

(Source: Reuters)

1:38 PM

Most parts of India likely to get normal rainfall as IMD ups 2021 forecast

The India Meteorological Department (IMD) on Tuesday upped its 2021 monsoon forecast to 101 percent of the Long Period Average (LPA), meaning most parts of the country can expect to get normal to above normal rainfall. Rainfall between 96-104 per cent of the LPA is considered a normal rainfall. The forecast is with a model error of plus and minus 4 percent. The above normal forecast excludes except parts of East and North-East India. READ MORE

1:28 PM

May Auto Sales :: Maruti Suzuki sells 46,555 units vs 18,539 units YoY

1:17 PM

This oil & marketing distribution firm's stock has zoomed 133% in 15 days

Shares of Tide Water Oil (India) continued their northward movement, surging 10 per cent on Thursday to hit a new high of Rs 10,449 on the BSE on Tuesday. The stock has rallied 74 per cent in the past four trading days after the company -- engaged in oil & marketing distribution business -- said it will consider a stock split and bonus issue in the forthcoming board meeting to be held on June 10, 2021. READ MORE