Hawkish US Fed tone hits D-Street; Sensex slips 179 pts; IT stocks shine

A mild recovery post a gap-down start quickly dismantled during the last hour of the session as market participants offloaded metal and rate-sensitive counters

9:36 AM

Adani Group stocks under pressure for 4th day

9:34 AM

BLOCK DEAL :: 2.7% equity of Advanced Enzymes exchanges hands

9:32 AM

IDFC First Bank wipes earlier losses, turns positive

The lender has approved the re-appointment of V Vaidyanathan as the MD & CEO for a further period of three years, with effect from December 19, 2021.

9:30 AM

Earnings Impact :: Welspun Enterprises slips 4% post Q4 numbers

>> The construction & engineering company said its consolidated net profit fell 54 per cent YoY to Rs 40.94 crore during the quarter ended March 31. The company had clocked a consolidated net profit of Rs 89.08 crore in the corresponding quarter a year ago.

9:29 AM

ISGEC Heavy Engineering gains over 3% on order win

> The company has received an order for the fabrication of above-ground piping spools from Tata Projects.

 

9:27 AM

Result Impact :: CESC hits fresh 52-week high

The utility distributor posted over 13 per cent YoY jump in its consolidated net profit to Rs 429 crore in the March 2021 quarter, mainly due to higher revenues. The company's consolidated net profit had stood at Rs 378 crore in the quarter ended March 31, 2020.

9:23 AM

BSE Smallcap index outperforms benchmark Sensex

> Index down 0.28% as against a fall of 0.50% in Sensex

9:22 AM

BSE Midcap index sheds 1%

> Top gainers & losers from the index at opening tick

9:20 AM

Sector Watch

>> Nifty IT index defies market selloff, trades in the green

9:19 AM

Sensex Heatmap | Only 6 stocks trade in the green

>> Tech stocks maintain lead even as index falls

>> Banking & financial shares worst hit

9:18 AM

OPENING BELL :: Nifty nears 15,650

9:17 AM

OPENING BELL :: Sensex slides 300 points

9:01 AM

Pre-open trade: Sensex gains ground

9:00 AM

MUST READ :: Market breadth turns sharply positive

The market breadth has turned sharply positive since May on hopes that a decline in covid-19 infections will lead to a revival in the economy. The advance-decline ratio (ADR) for May was the best since June 2020 at 3.8. So far this month, the ratio has continued to remain above three. In simple words, for every one declining stock there were nearly four advancing stocks in May and three this month. FULL STORY HERE

8:58 AM

Economy watch

In the coming months, domestic inflation trends are likely to raise anxiety levels in the RBI and the MPC. Driven by several global and domestic factors, inflation may remain elevated in the coming months. Specifically, the faster than anticipated and robust recovery in some of the advanced countries is likely to exert upward pressure on international commodity prices, including oil. The latter being an intermediate good in leading EMEs, it would generate cost push inflation.

We expect a status-quo in August. We believe RBI would still try to find a marriage of convenience of regulatory and developmental measures and monetary policy in August policy. The die has been cast, but the RBI can still hold out with a firm message of ratcheting up of inflationary pressures in August policy statement. -- SBI Ecowrap report