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
 "Stock market, BSE, sensex, markets")
Photo: Bloomberg
CLOSING BELL
Stock market highlights: After trading higher for better part of the day, equity markets turned volatile during the afternoon session, and ultimately eneded lower on Wednesday. With this, the equities snapped their two-day gaining streak as the benchmark S&P BSE Sensex gyrated 655 points intra-day before ending at 54,209, down 110 points or 0.2 per cent.
Stock market highlights: After trading higher for better part of the day, equity markets turned volatile during the afternoon session, and ultimately eneded lower on Wednesday. With this, the equities snapped their two-day gaining streak as the benchmark S&P BSE Sensex gyrated 655 points intra-day before ending at 54,209, down 110 points or 0.2 per cent.
The NSE Nifty50, on the other hand, hit an intra-day high and low of 16,400 and 16,211 before shutting shop at 16,240, down 19 points or 0.12 per cent. In the broader markets, the BSE MidCap index dipped 0.13 per cent while the BSE SmallCap index added 0.33 per cent.
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. On the flipside, defensive sectors FMCG and Pharma rose over 1 per cent each.
IPO update
Paradeep Phosphates: The 3-day offer was subscribed less than 50 per cent till 3:30 PM on the second day of the issue. The subscription was led by retail investors with nearly 90 per cent subscription so far.
Ethos: The issue was subscribed over 20 per cent on the first day of the issue. While retail investors' portion has been subscribed about 47 per cent, NIIs have, so far, lapped up 2 per cent of the shares reserved for them.
4:01 PM
Market view: Vinod Nair, Head of Research at Geojit Financial Services
With the support from Pharma and FMCG stocks, the domestic market had a steady run until the weak opening of the European market. UK’s soaring retail inflation number along with Fed Chair’s reassurance on bringing down the inflation, disturbed the sentiment, risking sharper rate hikes. With prospects of a sizeable interest rate hike by the global central banks, investors are advised to allocate higher weightage to sectors that are least affected by such policies like defensives.
3:56 PM
Closing bell: Over 1,900 stocks advanced whereas 1,433 declined
3:52 PM
Closing bell: Nifty FMCG best sectoral performer
3:51 PM
Closing bell: Power Grid, BPCL, Tech Mahindra top Nifty 50 losers
3:49 PM
Closing bell: Tata Consumer, HUL, Ultratech Cement top Nifty 50 gainers
3:46 PM
Closing bell: Nifty Realty worst sectoral performer
3:42 PM
Closing bell: Broader markets tepid; India Vix eases below 1%
3:40 PM
Closing bell: Most sectors bleed; Pharma, FMCG stocks in demand
3:39 PM
Closing bell: 13 out of 30 Sensex stocks sizzle in positive territory
3:35 PM
Closing bell: Sensex sheds over 100 points
3:34 PM
Closing bell: Nifty 50 closes below 16,250 levels
3:31 PM
Ruchi Soya hits upper circuit on buyout of Pantajali's food retail business
Shares of Ruchi Soya Industries froze at 10 per cent upper circuit and hit over 10-month high of Rs 1,188.60 on the BSE in Wednesday’s intra-day trade. The spike comes after the company announced complete acquisition of Patanjali Ayurved's food business for Rs 690 crore in order to accelerate transition into a leading fast moving consumer goods (FMCG) company. The board also approved to change the company's name from Ruchi Soya Industries to Patanjali Foods. READ MORE
3:29 PM
Cabinet empowers PSU boards to recommend stake sale, close subsidiaries
At present, PSU boards have the authority to make equity investments, undertake mergers and acquisitions subject to certain ceilings of net-worth. However, powers for disinvestment and closure of their subsidiaries is not available to PSUs, except for suggesting minority stake sales for some PSUs. READ MORE
3:25 PM
Dr Reddy's Q4 PAT may rise 28% YoY; margins likely to fall, say analysts
Hyderabad-based drugmaker Dr Reddy’s Laboratories is set to announce results for the fourth quarter of FY22 (Q4FY22) on Thursday, May 19. Analysts expect the company to post revenue growth of 8-16 per cent in Q4FY22 on the back of decent sales across all geographies and a ramp-up in volumes of its Vascepa generic in the US. READ MORE
3:15 PM
Bharti Airtel Q4 concall :: See ARPU headed towards Rs 300 over the longer-term
>> Slower upgrades from 2G to 4G due to higher prices of smartphones
>> 5G will be in most part of urban India in 3-4 years
>> Will need another round of tariff hike to get to Rs 200-ARPU
>> 5G will be in most part of urban India in 3-4 years
>> Will need another round of tariff hike to get to Rs 200-ARPU
Topics : Sensex MARKET LIVE MARKET WRAP Markets Nifty BSE NSE stock markets Dalal Street Russia Ukraine Conflict Oil Prices Q4 Results Bharti Airtel ITC SGX Nifty
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First Published: May 18 2022 | 8:13 AM IST
