Thursday, December 26, 2024 | 07:24 AM ISTEN Hindi

Sensex snaps 2-day gaining streak, slips 110 pts; Ruchi Soya leaps 10%

CLOSING BELL: Sectorally, the Nifty Realty and PSU Bank indices were the worst hit as they slipped 1.75 per cent and 1.6 per cent on the NSE

SI Reporter New Delhi

Photo: Bloomberg

8:58 AM

Pre-open view: Trend reversal may continue, Nifty can rally to 16,500

Benchmark indices are expected to open on a flat to negative note as suggested by early trends on SGX nifty.

Both US and European markets closed with firm gains. On Tuesday benchmark indices closed with stupendous gains.

Yesterday’s rally was the biggest in the last three months. Investor sentiment got a boost after the announcements regarding the easing of lockdown in Shanghai.

We believe this trend will continue and the indices can further rally towards 16,500 and present the right time to pick quality stocks.

On the technical front, the key resistance level for Nifty50 is 16,400 followed by 16,500 and on the downside 16,000 and 15,750 will act as strong support.

Views by Mohit Nigam, Head - PMS, Hem Securities

8:56 AM

NFTs, Metaverse prices follow crash of cryptos; innovations finding favour

While stablecoins in particular and cryptocurrencies in general have fallen sharply recently, other virtual assets in the Web 3.0 ecosystem like non-fungible tokens (NFTs), Metaverse (or digital/virtual world) prices have also fallen. Read here

Cryptocurrencies

8:53 AM

BofA slashes Nifty target to 16k by Dec on inflation, rate hikes concerns

After scaling many new highs, Dalal Street ended the fiscal 2022 with a healthy 18 per cent gains, and ended calendar 2021 with a healthier 24 per cent gains. Read here

8:50 AM

DIIs outweigh FII selling: Buy equities worth Rs 2,294 Tuesday

8:49 AM

FPI selloff: FIIs sell shares worth Rs 2,192 crores on Tuesday

And the March outflows were the most severe since March 2020 after the pandemic hit the world.

8:46 AM

RBI to release May MPC meeting minutes today

The bank had delivered a surprise 40 bps rate hike on May 4.

Photo: Bloomberg

8:45 AM

Go First plans IPO of up to Rs 3,600 cr by July after deferring for months

Wadia group owned Go First plans to hit the public markets by the end of June or early July.. Read here

8:41 AM

Stocks to Watch: ITC, Interglobe Aviation, BPCL, Bharti Airtel, IOC, DLF

Bharti Airtel: Telecom major Bharti Airtel reported a nearly three-fold rise in net profit at Rs 2,008 crore in the Q4FY22 led by gains from tariff hikes and exceptional income. In the same quarter last year Airtel posted a net profit of Rs 759 crore. Meanwhile, consolidated revenue for the quarter rose 22.3 per cent to Rs 31,500 crore on a year-on-year basis. The management said that a strong balance sheet and cashflows enables them to pay spectrum liabilities.

Telecom stocks in focus: Digital Communication Commission cleared auction of 5G spectrum with a validity of 20 years, but decided not to auction part of the millimetre band between 27.5 GHz to 28.5 GHz for the time being. Satellite operators had wanted the band for their exclusive broadband operations. Read here