Sensex soars 740 pts; Nifty nears 17,500; banks, auto shine, metals sink

CLOSING BELL: Reliance Industries, HDFC twins, ICICI Bank, and Bajaj Finance lifted the benchmark S&P BSE Sensex 740 points higher to end at 58,684

11:30 AM

Axis Bank set to buy Citi's India consumer business: Report

Private sector lender Axis Bank is close to acquiring Citigroup's retail banking business in India and a deal is likely to be announced soon, sources said on Wednesday. Read here

 

11:23 AM

Broader markets firmly up; SmallCaps outshine

 

11:17 AM

Cipla, Ipca Lab, Zydus Life to benefit most from drug price rise: Analysts

The effects of inflation have spilled over to several industries with many of them forced to raise prices to stave off rising cost pressures. With this, even essential medicines are set to become costlier from April 1 as the national drug price regulator has allowed companies to hike prices of scheduled drugs by up to 10.8 per cent, the highest ever in the last 10 years. Read more

 

11:07 AM

RBI risks falling behind curve on curbing inflation like US Fed: SBI Funds

India’s central bank may have to pay a bigger price for ignoring inflation by tightening interest rates much more aggressively later, like the Federal Reserve is doing now, according to the nation’s largest asset manager. Read here

RBI ( Photo: Bloomberg)

11:02 AM

Small-caps steal a march over Sensex, Nifty; index zooms 35% in FY22

Even though the frontline indices – the S&P BSE Sensex and the Nifty 50 – are set to post a double digit return for the second consecutive financial year in 2021-22 (FY22) with a gain of 16 per cent and 18 per cent respectively, it is the small-caps where all the action was concentrated in the year gone by. READ MORE HERE

10:58 AM

Market check: Over 600 points upmove for Sensex

10:55 AM

Adani Enterprises hits new high on financial closure of Navi Mumbai airport

Shares of Adani Enterprises hit a new high of Rs 1,937, up 1 per cent on the BSE in Wednesday's trade, after Adani Group achieved financial closure of Navi Mumbai International Airport project (NMIAL), a subsidiary of the company. READ MORE HERE

10:26 AM

Cement stocks build steam; Andhra Cements zooms over 6%

10:20 AM

Rupee opens 4 paise higher against US dollar

10:15 AM

Govt to sell 1.5% stake in ONGC via OFS; Stock top Nifty 50 loser

10:10 AM

SBI Life abuzz after Canara Pension Fund offloads 0.56% stake

10:04 AM

Tata Coffee, Tata Consumer surge up to 13% on business reorganisation plan

The reorganisation plan includes the demerger of plantation business of TCL into TCPL Beverages & Foods Limited (TBFL), a wholly owned subsidiary of TCPL and the merger of the remaining business of TCL, consisting of its extraction and branded coffee business with TCPL. READ MORE

10:01 AM

Paint stocks trade positive as Brent Crude hovers around $111 a barrel

9:55 AM

Hero MotoCorp plans to hike prices from April 5; Stock spikes over 2%

9:50 AM

IndiGo appoints Gaurav Negi as CFO; Stock gains over 1%