Sensex ends 254 points lower, Nifty below 17,750; HDFC, RIL top drags

Stock Market LIVE: The broader indices, too, turned positive and gained up to 0.8 per cent

3:49 PM

TECH VIEW :: Ashis Biswas, Head of Technical Research at CapitalVia Global Research

The market witnessed some positive movements after the market was able to sustain the Nifty 50 Index level of 17600. It is going to be crucial for the short-term market scenario to sustain above the 17550-17600 Nifty50 Index support zone. If the market is able to sustain the level of 17550-17600, market can witness higher levels of 18000. The technical indicator suggests, a volatile movement in the market in a small range between 17600-18000.

3:48 PM

MARKET QUOTE :: S Ranganathan, Head of Research at LKP Securities

Markets were volatile for the second consecutive day with the street wary of inflation on the back of supply side disruptions and higher commodity prices. As China pulls back on the back of power shortages, export opportunities are seen opening up for several Indian companies with the PLI schemes providing the catalyst. PSE index rose for the second consecutive day with Power stocks hogging the limelight. As the gap between growth and value stocks widen, we are witnessing sector rotation in several pockets. Metals & PSU banks helped stage a recovery in afternoon trade.

3:48 PM

IPO Update :: AB Sun Life AMC subscribed 44% so far on Day 1

3:47 PM

Godrej Properties to redevelop residential project in Mumbai

3:45 PM

HDFC AMC tumbles 6% on block deal

3:44 PM

Power stocks continue to rally; BSE Power index up 3.5%

3:43 PM

Sector Watch :: Nifty Private Bank top loser; Metal, PSU Bank lead gainers

3:42 PM

Broader markets rebound from day's low, outperform benchmark Nifty50

3:36 PM

Sensex Heatmap :: 18 of 30 Sensex stocks end in the red

>> TOP GAINERS: NTPC, PowerGrid, Sun Pharma

>> TOP LOSERS: HDFC, UltraTech, Asian Paints

3:34 PM

CLOSING BELL :: Nifty50 ends below 17,750 ahead of Sept F&O expiry

3:33 PM

CLOSING BELL :: Sensex recovers 300 points from day's low, ends 254 points down

>> Recovery in European markets and buying at lower levels helped index recoup losses

3:19 PM

CABINET BRIEFING

- Govt approves doubling Neemuch-Ratlam Railway line

- Govt took decisions on railway projects

- Cabinet approves Rs 4400 cr extra capital injection in ECGC

3:13 PM

BSE Power index surges to a 10-year high, up nearly 4% on demand pick-up

Tata Power, CESC, NTPC and Bharat Heavy Electricals (BHEL) from the index rallied between 5 per cent and 10 per cent on the BSE in intra-day trade on Wednesday. Power Grid Corporation, Torrent Power and Adani Power were up in the range of 3 per cent to 4 per cent. READ MORE

2:55 PM

Dollar at strongest levels of 2021 as traders brace for Fed taper

The dollar stood at its strongest levels of the year on Wednesday, after rising along with U.S. yields on investor concerns that the Federal Reserve will start to withdraw policy support just as global growth slows.

 

The euro fell to $1.1657, its lowest since November 2020 and the dollar index rose to an 11-month high of 93.891. READ MORE

2:44 PM

Sensex Heatmap :: Gainers overtake losers