Sensex see-saws 487 pts, ends 14 pts down; HDFC Bank, RIL top laggards

In the broader markets, the S&P BSE MidCap index slipped 0.3 per cent as against the S&P BSE SmallCap index that rose 0.3 per cent

3:28 PM

NEWS ALERT :: Subex says US arm receives waiver of Rs 6 cr under US Paycheck Protection Programme

3:17 PM

Economic Pulse :: India's GDP to grow at better-than-expected rate of 1.3% in Q4, says SBI report

The country's GDP is likely to grow at 1.3 per cent in the fourth quarter of 2020-21 and may see a contraction of around 7.3 per cent for the full financial year, according to an SBI research report 'Ecowrap'.

 

The e-National Statistical Office (NSO) will release the GDP estimates for the March 2021 quarter and provisional annual estimates for the year 2020-21 on May 31. READ MORE

3:03 PM

Asian central banks can do little as Covid cases surge, recovery falters

Asia’s surging coronavirus infections and slow pace of vaccinations is testing the limits of what central banks can do to further support what, until recently, had been the world’s stand out economic recovery. With interest rates already low, the likely policy response will center on more government borrowing, relegating central banks to a supporting role. That backdrop will overshadow decisions this week where policy makers are expected to keep rates on hold -- Indonesia, South Korea and New Zealand. READ MORE

2:54 PM

Sectoral trends on the NSE at this hour

2:53 PM

Fed balm lifts European shares to record high amid tussle over yuan

European shares rose to record highs on Tuesday, soothed by reassurance from Federal Reserve officials that monetary stimulus won't be clawed back anytime soon. Sentiment in Europe was also underpinned by the latest IFO indicator which showed that the upswing for the German economy, Europe's largest, is picking up pace after the knock from COVID-19. READ MORE

2:43 PM

BROKERAGE VIEW :: Macquarie maintains 'Outperform' rating on HDFC Bank

The management believes the bank is on track when it comes to deliverables promised to RBI. The 2nd wave will have some impact on restructured assets as well as customers who have taken moratorium last time around but the impact will be range bound.

The stock at 2.8x FY23E P/BV is trading at a ~15-20% discount to its historical average. Overall, in our view, the technology related issues are a blip in the overall functioning of the bank and the bank continues to be on a strong footing to capture market share and maintain its high levels of profitability. We would encourage investors to add the stock at current levels

2:42 PM

Fall from intra-day high in BSE500 stocks in today's session

COMPANY	DAY'S HIGH(RS)	DAY'S LOW(RS)	LATEST(RS)	FALL(%)
Adani Transmissi	1589.30	1450.65	1450.65	-8.72
PNB Housing	440.00	401.95	404.65	-8.03
La Opala RG	287.65	263.50	265.05	-7.86
Indoco Remedies	368.70	333.60	341.00	-7.51

2:31 PM

Twitter Talk :: Indian markets will add another $1 trillion to its m-cap in 3 years, says Vikas Khemani

2:21 PM

Listen in! Can metal stocks gain their mojo back? Here's what analysts say

Metal stocks naysayers say the rally wasn't supported by demand fundamentals but was rather led by the price rise. Even then, any investor who would have put money in the Nifty Metals index a year ago would have tripled their investment. As for individual stocks, the returns range between 35-850% in the past year. Even on a YTD basis, the Nifty Metals pack has rallied 57% as against a rise of 9% in the Nifty50 pack. LISTEN TO THE PODCAST HERE

2:10 PM

Tech Glitch :: Brokerage firm MOFSL faces tech issues, services affected

2:01 PM

RIL, TCS, Infy and SBI common thread in India's m-cap milestones

Reliance Industries (RIL), Tata Consultancy Services (TCS), Infosys and the State Bank of India (SBI) are the only four consistent names in the list of top 10 companies when India hit the milestone of $1 trillion, $ 2 trillion and $ 3 trillion in market capitalisation. India first hit the $1 trillion m-cap mark in May 2007. Over a span of 14 years, the top 10 list has undergone considerable change with names like Reliance Communications, ONGC and NTPC disappearing from the list and new names like Kotak Mahindra Bank and Bajaj Finance stamping their authority. READ MORE

1:49 PM

ALERT :: Sensex turns negative

1:42 PM

High commodity prices may not dent Nifty FY22 earnings much: Report

A spurt in most commodities over the past few weeks has brought the spotlight back on inflation, which many fear will adversely impact the earnings of India Inc. While the scenario may hold true for the non-Nifty baskets, the Nifty50 index earnings may largely remain unscathed, suggests a report by domestic brokerage Motilal Oswal Financial Services (MOSL). READ MORE

1:35 PM

European markets check

(Source: Reuters)

1:33 PM

HDFC Bank declines 2%