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

11:05 AM

M-cap of BSE-listed companies at record $3 trillion: Thank broader rally

In 2007, when India’s m-cap topped the $1-trillion mark for the first time, the top 100 companies accounted for three-fourths of the total m-cap; at $1.5 trillion, the share was almost 80 per cent.

 

“This is a good sign as it means retail investors are creating wealth. Typically, retail investors dominate this space,” said Ambareesh Baliga, an independent market analyst. READ MORE

10:52 AM

Everest Organics up 20% on launching Posaconazole API to treat Black Fungus

Shares of Everest Organics hit a 20 per cent upper circuit limit of Rs 399.50, also its record high on the BSE in Tuesday's session after the company announced a successful development of Posaconazole API (Active Pharmaceutical Ingredient) used for the treatment of Black Fungus. The trading volumes on the counter jumped nearly 10-fold with around 76,000 equity shares having changed hands on the BSE, as against an average sub 8,000 shares that were traded in the past two weeks. There were pending buy orders for 24,195 shares, the exchange data shows. READ MORE

10:43 AM

Most active stocks by volume

Company	PRICE(rs)	CHG(%)	VOLUME
Vodafone Idea	8.57	-0.35	6287416
Amara Raja Batt.	745.00	-4.94	4254671
Punjab Natl.Bank	39.70	-0.25	3015476
S A I L	127.65	2.32	2344060
Union Bank (I)	36.20	-5.73	1425804

10:35 AM

Time to play the 'unlock trade'? Cautiously, say analysts

The fall in daily Covid cases across India over the past few days amid plans to slowly put the economic activity back on track over the next couple of months helped by a ramp-up in vaccination going ahead has seen investor interest come back in stocks such as hotels, recreation, travel & tourism etc.

 

At the bourses, 'unlock trade' has been playing out well over the past few weeks with stocks from the related sectors on a run.  READ MORE

10:23 AM

Amara Raja Batteries dips 6% on huge block deals

At 09:48 am, the stock was trading 5 per cent lower at Rs 743.95, as compared to a 0.37 per cent rise in the Nifty 50 index. Around 29.6 million equity shares, representing 17 per cent of the total equity of Amara Raja Batteries have changed hands on the NSE. A combined 33.8 million equity shares, representing 19 per cent of the total equity of the company changed hands on the NSE and BSE combined, the exchanges data shows. The names of buyers and sellers were not ascertained immediately. READ MORE

10:13 AM

Panacea Biotech up 5% as Co begins producing Sputnik V vaccine in India

Shares of Panacea Biotech were frozen at 5 per cent upper circuit at Rs 406.10 on the BSE on Tuesday after the company and the Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund), announced the launch of production of the Russian Sputnik V vaccine against coronavirus.

 

The stock of the biotechnology company was trading close to its 52-week high level of Rs 407.20, touched on April 28, 2021. Till 09:28 am, a combined 143,000 equity shares changed hands and there were pending buy orders for around 960,000 shares on the NSE and BSE. READ MORE

10:05 AM

Sector Watch :: All 12 Nifty PSU Bank index constituents trade in the red

10:00 AM

NEWS ALERT | Maharashtra govt may take decision on 'unlocking the state' tomorrow: TV reports

>> Maha Cabinet to meet tomorrow

>> May decide on unlocking the state either from June 1 or June 7

>> Unlock to take place in four phases.

>> The first phase will see opening of non-essential shops in a staggered manner. However, schools and colleges will continue to remain shut. The Mumbai locals will open in the last phase

9:50 AM

MARKET CHECK :: Indices erase morning gains

9:45 AM

Wondering what could be the next triggers for markets?

Two trends - one positive and one negative- need close monitoring. The negative is the likely huge shortfall in government revenues and its potential impact on macro stability. This will have implications for deficit, borrowings and macro stability. But the problem can be mitigated if lockdowns are lifted soon.

There is room for optimism on this front since fresh cases have fallen to 1.95 lakh cases during the last 24 hrs and recoveries are at 3.25 lakhs. So, anticipating progressive unlocking starting June, the Indian market is likely to join the current risk-on in global markets. Nifty is moving towards an all-time high. Nifty bank index has more room on the upside

Views by: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

9:38 AM

Mahanagar Gas soars 3.5%

>> The company reported net profit of Rs 212.77 crore for the March quarter as compared to Rs 217.21 crore reported in the year-ago quarter. Total income came in at Rs.801.21 crore in the quarter under review.

9:36 AM

PNB mildly higher on appointment of new GCRO

>> Punjab National Bank (PNB) has appointed Ashutosh Choudhury as the group chief risk officer (GCRO) with effect from Monday. He replaced Vishesh Kumar Srivastava.

9:33 AM

Balaji Amines erases morning losses, trades flat

9:30 AM

DHFL declines 4% as CoC challenges Kapil Wadhawan's offer

>> The committee of creditors of DHFL has challenged the National Company Law Tribunal (NCLT) order directing the lenders to consider the offer by the debt-ridden mortgage firm's erstwhile promoter Kapil Wadhawan.

9:29 AM

Grasim Ind trades flat post Q4 nos

>> The company reported a 13.3 per cent YoY rise in its consolidated net profit to Rs 2,616.64 crore for the fourth quarter ended March 31. Its revenue from operations during January-March 2021 jumped 26.1 per cent YoY to Rs 24,398.92 crore.