Banks, RIL lift Sensex 397 pts; broader indices underperform

ICICI Bank (up 2.7 per cent), HDFC, Axis Bank, Sun Pharma, and NTPC were the top gainers on the frontline S&P BSE Sensex

10:25 AM

Time to take a short position in the market? Look for this chart pattern

The Descending Triangle shows price weakness in the stock market. It is recognized as a bearish indicator, highlighting the fragile strength that results in negative sentiment.

 

It is one of the chart patterns that reflect the significance of profit booking and exiting bullish positions. The Descending Triangle consists of a horizontal trendline and a falling trendline.  READ MORE

10:06 AM

Ashoka Buildcon gains 5% on receiving LOA from NHAI for Rs 726 cr project

The stock of the roads and highways construction company was trading close to its 52-week high of Rs 118.65 touched on February 17, 2021. At 09:41 am, the scrip was quoting at Rs 114.80, up 3 per cent on the BSE, as compared to a 0.41 per cent gain in the S&P BSE Sensex. A combined 2.4 million equity shares had changed hands on the counter on the NSE and BSE at the time of writing this report. READ MORE

9:55 AM

NEWS ALERT :: ISGEC Heavy Engineering secures order

9:37 AM

MARKET VIEW :: Do not get carried away by exuberance in small-caps

The global stock market rally continues unabated with the Dow, Nasdaq, S&P 500, and the pan European Stoxx 600 again setting new record highs. Markets are currently ignoring valuation concerns. The fact that 583 stocks, mostly mid and small-caps were locked in the upper circuit yesterday is an indication of the frenzied retail activity in markets. From a conservative investment perspective, these are warning signals. Meanwhile, the news from the inflation front is positive with June CPI coming at 6.26% against an expectation of  6.5%. This gives room for the RBI to continue on the accommodative mode further strengthening the bulls. While remaining invested in high-quality stocks investors should not be carried by the exuberance in the market, particularly in small-caps. 

-- Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

9:36 AM

BUZZING :: Kitex Garments hits 10% upper circuit, rises for 5th day straight

9:34 AM

Shilpa Medicare climbs 2% on transfer of API business to subsidiary

>> The company board approved the transfer of API business consisting of Unit-1 and Unit-2 situated at Raichur, Karnataka by way of slump sale to a wholly owned subsidiary of the company.

 

9:32 AM

Ashoka Buildcon rises over 2% on order win

>> The company has received letter of acceptance from National Highways Authority of India for development of Memmadpur (Ambala) - Banur (IT City Chowk) - Kharar (Chandigarh) Corridor for a bid price of Rs 726 crore.

9:30 AM

FDC gains 2% as firm launches India's first oral suspension of Favipiravir

>> The company has launched India's first oral suspension of Favipiravir – Favenza oral suspension, used to treat mild to moderate cases of Covid-19.

9:28 AM

Sunteck Realty jumps 6% on Q1 business update

>> The company's pre-sales grew 74 per cent YoY in Q1FY22 to Rs 176 crore and collections grew by 165 per cent YoY to Rs 172 crore.

9:27 AM

Voda Idea declines 2% on losing 1.8 million customers in April

9:25 AM

Mindtree dips marginally ahead of Q1 numbers

9:24 AM

BSE Smallcap index hits new high of 26,263.03

9:23 AM

India VIX eases nearly 3%

>> Volatility index India VIX traded 2.67 per cent down at 12.64

9:20 AM

Sector Watch :: Barring Nifty IT, all sectoral indices trade higher

9:19 AM

Sensex Heatmap :: Top gainers & losers at opening tick

Top gainers: ICICI Bank, Bajaj Finance, L&T

Top losers: TechM, HCL Tech, Bajaj Finserv