Sensex drops 652pts, Nifty near 17,750 as growth concerns weigh; banks sink

CLOSING BELL: The broad-based sell-off was led by financials including IndusInd Bank (down 4 per cent), Bajaj twins, SBI, ICICI Bank, Kotak Bank, and HDFC duo

10:16 AM

Adani Power surpasses NTPC in m-cap ranking; zooms 318% thus far in 2022

In the past one month, the stock price of Adani Power has appreciated by 41 per cent, as compared to 6 per cent gain in the market price of NTPC. The S&P BSE Sensex, meanwhile, rallied 10 per cent. READ MORE

10:10 AM

Broader markets outshine benchmark: Nifty Smallcap 100 up 0.4%

10:06 AM

Gold falls to 3-week low as robust dollar, Fed rate-hike fears rise

Interest rates to go further up; strong dollar is likely to continue weighing on gold prices. READ MORE

10:00 AM

COMMENT | FII buying may lose steam with rise in dollar

The market momentum, which pushed the Nifty up by 18% from the June lows is likely to face some headwinds from now on.

The sudden sharp spike in the dollar index to 107.6 will impact capital flows to emerging markets like India. The consistent FII buying seen in August is likely to lose steam impacting sentiments.

The elevated valuations do not justify further run up in markets. Some profit booking and diversion of money to fixed income may be considered as a short-term strategy.

Buy on dips can be considered in high quality financials, leading names in capital goods and autos.

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

9:54 AM

Talbros Eng soars 5%; co starts work to set up new unit in Faridabad

The company has commenced construction on land acquired admeasuring 2.2 acre in Faridabad for setting up of new production unit.

 

 

 

9:50 AM

EARLY MARKET CHECK | Sensex turns negative, sits in red

 

9:46 AM

MTNL surges 9%; board approves delisting co's ADS

The board approved termination of Depository Agreement with Bank of New York Mellon  (the Depository) and delisting of MTNL's American Depository Shares (ADS) listed on OTCQX, New York

 

9:40 AM

ONGC firmly inches up as govt cuts windfall tax on crude output

 

9:36 AM

NHPC gains 1% in weak market; co signs pact with Nepal govt for two hydropower projects

 

9:32 AM

Wipro gains 1%; co gets multi-year contract from HM Treasury

 

9:28 AM

SECTORS | IT, Metals outperform; PSBs weak

 

9:26 AM

BROADER MARKETS | Small-caps, mid-caps move higher in weak market

 

9:24 AM

NIFTY LOSERS | IndusInd, Coal India, NTPC top drags

 

9:23 AM

NIFTY GAINERS | ONGC, Tech M, Kotak Bank among top winners

 

9:21 AM

SENSEX HEATMAP | 12 of 30 stocks open in red