Sensex rebounds 640 pts from day's low to end 135 pts down; Airtel jumps 5%

Bargain hunting in domestic equities helped the markets rebound swiftly from intra-day lows on Wednesday

9:42 AM

EXPERT VIEW :: Sectoral shift underway in the markets

There is a mild risk-off in equity markets globally as reflected in the rising dollar (dollar index at 92.80 now). The sell-off in Chinese tech stocks on Beijing's regulatory crackdown has triggered concerns about whether this sell-off will spread to other segments. China is too big now. It can cause flutters in global markets. This space needs to be watched cautiously. The Nifty range 15600 - 15900 has become strong with sustained FII selling around 15900 and strong retail & DII buying around 15600. This range is likely to hold for some time. 

 

A significant trend in the market now is sectoral shifts. Yesterday there has been across a board selling in pharma stocks. Profits booked in this segment is moving into other sectors. The relative outperformance in front line financials indicates a sectoral shift.

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

9:40 AM

BSE Smallcap index wipes losses, returns to green

9:36 AM

BUZZING :: Tata Coffee hits 52-week high ahead of Q1 numbers

9:34 AM

Bajaj Healthcare rises 5% as firm to consider stock split

> Board to consider stock split in August 13 meeting.

9:29 AM

Results Impact :: IIFL Finance declines 1% even as Q1 profit soars over 700%

>> The company on Tuesday reported a 735 per cent YoY jump in consolidated net profit at Rs 265.82 crore for the quarter ended June on healthy growth in its loan portfolios. Total income during Q1 FY22 moved up to Rs 1,531.67 crore, as against Rs 1,295.19 crore in the first quarter of FY21.

9:28 AM

Nestle India falls 1% ahead of June quarter show

>> A low base last year and continued demand for in-home consumption products like Maggi, Kitkat, Nescafe is likely to drive Nestle India's growth in the June quarter (Q2FY21), believe analysts. In year-on-year (YoY) terms, the company is expected to post a 14-19 per cent jump in profit after tax (PAT) and 13-21 per cent increase in revenues. 

9:26 AM

Earnings Reaction :: IndiGo drops 3% on posting highest ever quarterly loss

>> The airline posted its highest ever quarterly loss of Rs 3,174.17 crore during the April-June period as the second wave of the pandemic during April and May forced down the number of air passengers. Adding to this, the airline’s condition was worsened by crude oil prices have inched up, which means operating costs increase for airlines.

9:25 AM

Earnings Impact :: IndusInd Bank gains 2% on doubling Q1 PAT

> The lender reported doubling of its net profit to Rs 1,016 crore in the June 2021 quarter, on a dip in provisioning and a surge in other income. The bank had posted a net profit of Rs 510.39 crore in the corresponding quarter of the previous financial year.

9:24 AM

Bear Attack :: Nifty Pharma extends losses!

> Index lost over 0.50% in early trade after a 4% crash on Tuesday

9:22 AM

Sector View :: All sectoral indices in the red on NSE

>> Pharma pack continues to bleed

9:21 AM

Volatility index India VIX gains 3%

> Volatility index rises 3.43% to 13.68

9:19 AM

First Trade :: Nifty slips below 15,700

9:18 AM

OPENING BELL :: Global jitters push Sensex down 200 points

9:11 AM

COMMODITY CHECK :: Precious metals gain

9:11 AM

Morgan Stanley maintains 'Overweight' on IndiGo

Reco: OVERWEIGHT | TP: Rs 2,293

>> Reported higher than expected loss

>> Near term earnings are tough to predict

>> Competitive leads on customers and costs, and valuation keep us overweight