Sensex falls 710 pts, Nifty holds 15,400; Metal index drops 5%, RIL 3%

CLOSING BELL: In the broader markets, the Nifty MidCap100 and SmallCap100 indices fell up to 1.6 per cent.

1:19 PM

Wall Street check :: US Futures sink; Dow Jones down over 400 pts

1:11 PM

Oil prices cool off further; Brent slips below $110-mark

Source: Oilprice.com

1:10 PM

BSE 500:: Top gainers so far today

Sequent Scientific was the was the top gainer among the BSE 500 stocks, up 7.6 per cent. ITI, Trident, CRISIL and RBL Bank were some of the other major gainers on Wednesday so far.

1:05 PM

BoI, PNB, IOB: 5 PSBs form 'falling knife' pattern; charts say stay away

Shares of Bank of Maharashtra have plummeted 80 per cent, while Canara Bank, Indian Bank, and Bank of Baroda have tumbled 71 per cent, 62 per cent and 56 per cent, respectively. READ MORE

12:54 PM

Currency check :: Rupee hits fresh record low

Source: Bloomberg

12:43 PM

GLOBAL NEWS :: UK May CPI hits fresh 40-year high of 9.1%

12:34 PM

5 reasons why BofA Securities has cut year-end Nifty target to 14,500

Fast tightening monetary conditions, slowing growth/fears of US recession and the likely Nifty EPS (earnings per share) cuts, BofA Securities said, are the key headwinds for the markets in the near-term. However, clarity on macro and monetary policy outlook in the US/India, it said, is the silver lining that could see markets bottom out by August/September 2022. READ MORE

12:23 PM

UPL slips 23% in a month post closure of buyback offer; hits 52-week low

UPL bought back 13.43 million equity shares at an average price of Rs 813.92 a piece. The company has utilized Rs 1,094 crore, which represents 99.43 per cent of the maximum buyback size. READ MORE

12:15 PM

IT analysts in wait-and-watch mode as experts see mild recession in the US

With the recession word again making rounds in the US and with Nomura Holdings saying that America will likely fall into a mild recession by the end of 2022, IT analysts tracking client budgets believe that the Indian IT services industry may see some impact only in the second half of this fiscal. READ MORE

12:06 PM

Oversupply of India bonds to drive yields to 8%: Standard Chartered

The lender estimates that excess supply of sovereign and state debt may total as much as Rs 6.3 trillion ($81 billion) this fiscal year. That’s likely to further upset a market that’s struggling to cope with rising interest rates and dwindling surplus liquidity, said Parul Mittal Sinha, head of India financial markets at the bank. READ MORE

11:56 AM

CBI arrests Sanjay Gupta, main accused in NSE co-location scam case

The CBI has arrested Sanjay Gupta, owner and promoter of Delhi based OPG Securities Pvt. Ltd, in connection with the NSE Co-location scam. Read here

11:47 AM

Asian markets trade with cuts; Hang Seng leads decline

11:39 AM

Zomato board to consider potential acquisition on June 24, stock gains 4%

The board to consider a potential acquisition transaction by the company, the consideration for the same may be discharged through issuance of equity shares on preferential basis. Read more

11:30 AM

After Morgan Stanley and JP Morgan, now Jefferies turns bullish on RIL

RIL is a key beneficiary of energy inflation, with every $1 per barrel improvement in annualised refining margins adding an estimated $400-450 million to RIL's consolidated Ebitda, Jefferies said. Read here

11:20 AM

Oversupply of India bonds to drive yields to 8%: Standard Chartered

Standard Chartered estimates that excess India bond supply may total between Rs 3.8 trillion to Rs 6.3 trillion this fiscal year, according to a June 8 note. Read more