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

9:02 AM

Top stocks to watch out for: ONGC, Hero MotoCorp, PNB, LTTS, IndiGo, Adani Group

ONGC: The government will sell 1.5 per cent stake in the oil producer through an offer for sale (OFS) on Wednesday, a move that’s expected to shore up the centre’s divestment receipts by over Rs 3,000 crore. OFS for non-institutional investors opens on Wednesday, whereas the offer to sell an additional 94.3 million or 0.75 per cent would open for retail investors on Thursday. The floor price for the sale has been set at Rs 159, at about 7 per cent discount to the stock’s closing price of Rs 171 on Tuesday. 
 

Hero MotoCorp: The income tax (I-T) department is learnt to have found that two-wheeler maker Hero MotoCorp made over Rs 1,000 crore in ‘bogus’ expenses and an unexplained cash transaction of Rs 100 crore involving a property allegedly owned by a promoter of the company. Read the story here

 

8:57 AM

Brigade Enterprise, RCF are the top trading picks of HDFC Sec's Vinay Rajani

The technical analyst from HDFC Securities expects the Nifty to rally towards 17,794 on a breakout above 17,500-level. Read here

Illustration: Ajay Mohanty

 

8:54 AM

ALERT: US says Russia may detain and single out American nationals in the country

8:52 AM

Petrol, diesel prices up by 80 paise; total increase now at Rs 5.60

Petrol and diesel prices were on Wednesday hiked by 80 paise a litre each, taking the total increase in rates in the last nine days to Rs 5.60 per litre. Read here

Photo: Bloomberg

8:52 AM

NEWS ALERT

8:49 AM

Russia-Ukraine war disrupting global supply chains: FM Sitharaman

Finance Minister Nirmala Sitharaman said on Tuesday that the war between Russia and Ukraine had disrupted supply chains around the world, including in India.Read more

 

8:46 AM

DII Tuesday inflows: Buy shares worth Rs 1,713 crores

illustration: Binay Sinha

8:45 AM

FIIs turn positive Tuesday: Buy shares worth Rs 35 crores

8:42 AM

Rupee closes 17 paise stronger than US dollar Tuesday

source: bloomberg

8:36 AM

SGX Nifty futures up 200 pts; hint at Nifty to open around 17,600

source: investing.com

8:31 AM

Ukraine isn't naive, says Zelenskyy as Russia pledges to scale down attack

Ukraine reacted with skepticism to Russia's promise in negotiations to scale down military operations around Kyiv and another city as some Western countries expected Moscow to intensify its offensive in other parts of the country. Read here

 Photo: Reuters

8:26 AM

Oil firm at $111 a barrel, WTI near $105 mark

source:oilprice.com

8:19 AM

Asian markets reverse opening losses, most turn positive

source: finance.yahoo.com

8:12 AM

European indices end in green tracking upbeat cues

source: Reuters

8:10 AM

US markets close higher Tuesday as Russia-Ukraine peace talks progress

source: Reuters