Sensex up 303 pts, Nifty tops 16,200; banks, FMCG shine; metals sole losers

CLOSING BELL: L&T, PowerGrid, NTPC, ICICI Bank, DR Reddy's Labs, Axis Bank, Bharti Airtel, and Nestle India were the top large-cap gainers

10:48 AM

Voltamp Transformers zooms 77% in 2 months on strong results & MF buying

In Q4FY22, Voltamp’s sales grew by 36.3 per cent year on year (YoY) to Rs 387 crore driven by execution of healthy order inflows. Profit after tax (PAT), too, jumped 67 per cent YoY to Rs 51.9 crore from Rs 31.1 crore in Q4FY21. READ MORE

10:40 AM

WATCH :: TCS Q1 results to set stage for IT earnings

10:32 AM

Rupee's slide to successive record lows pits RBI against mkt full of bears

The rupee's tumble to a succession of record lows is sparking fears of a deeper selloff and pitting the central bank against analysts and strategists who are predicting further losses. Read here

10:27 AM

CRYPTO VIEW: Visible signs of investor buying build up

Bitcoin crossed the $22,000 level last day for the first time in 3 weeks as the traditional as well as the crypto markets responded positively to the reassurance given by the U.S. Federal Reserve that the concern regarding recession is blown out of proportion.

The BTC market sentiment also moved in the favourable direction, reaching 20 on the fear & greed index, the highest in 2 months. 

 

On the 4-hourly time-frame, the BTC chart has broken out of the triangle pattern, moving in an uptrend.

The dailly(14-day) RSI surged to nearly 50, moving well away from the oversold zone and indicating the investors have now started buying into the crypto token.

The immediate resistance is expected at $32,300 level. The last week’s trading volumes indicate that the market is dominated by buyers and we could expect the upsurge to continue in the coming days.

 

Views by WazirX Trade Desk

10:17 AM

Trading volumes to soar in H2 as investors regain confidence: Roop Bhootra

Margin will remain under pressure in Q2, as investors might take time to regain confidence. However, we expect a turnaround in sentiments by Q4-FY23, says CEO - Investment Services of Anand Rathi. READ MORE

Roop Bhootra, CEO - Investment Services, Anand Rathi and Stock Brokers

10:00 AM

Market view: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The recovery in Nifty and Nifty Midcap by 6% and 10 %  respectively from their recent lows indicates the resilience of the markets and its potential to scale newer heights under a favorable macro construct. The present rally is driven partly by expectations that given the steady decline in commodity prices inflation will start showing a declining trend enabling central banks to go a bit slow on hiking rates, and partly by short covering. It is quite probable that central banks may not tighten policy as much as the market feared earlier. If emerging data indicates the possibility of a soft landing for the US economy, the rally may gather momentum. Therefore, commodity prices have to be closely watched.

9:52 AM

M&M rallies 5% as UK's BII to invest up to Rs 1,925 crore in new EV arm

The funds will be utilized primarily to create and market a world-class electric SUV portfolio with advanced technologies. READ MORE

9:45 AM

Kalpataru Power surges 2% post complete acquisition of Swedish firm

9:40 AM

Pricol gains 2% as firm ties up with BMS PowerSafe for EV batteries

9:35 AM

M&M hits 52-week high on BII's 1,925 crore investment into EV arm

9:32 AM

Dr Reddy's slips after Andhra plant receives 2 observations from USFDA

9:30 AM

Asian Paints, Tata Steel, IndusInd Bank top Nifty50 laggards

9:28 AM

L&T, Coal India, M&M top Nifty50 leaders

9:25 AM

Broader markets firm; India Vix slips in red

9:22 AM

Auto stocks in fast lane; Metal stocks lose shine