Sensex snaps 4-day losing run, rises 428 pts; Nifty holds 16,450; RIL up 3%

CLOSING BELL: Dr Reddy's Labs, Reliance Industries, Bharti Airtel, Sun Pharma, Tech M, and Infosys were the top large-cap gainers

12:22 PM

Asian Markets Update:: A tepid outing for major markets

Source: Yahoo Finance

12:05 PM

Tree House Education, Ansal Housing, MRPL: Strategies for buzzing stocks

Is there more steam left in these counters, or is it time to take money off the table? Here's what technical charts suggest. Read more

11:59 AM

ALERT :: Rupee hits intra-day record low of 77.80 against US dollar

Source: Bloomberg

11:57 AM

CRYPTO TECH VIEW: Bitcoin accumulation intensifies in last week

Bitcoin remained more or less neutral throughout the past week, consolidating around the $30K levels.

The last couple of days were dominated by sellers on exchanges. Interestingly, data from Santiment indicates that over 50,000 Bitcoins, amounting to $1.5 billion, have left the exchanges in the last week as the accumulation of BTC intensifies.

The daily trend for Bitcoin continues its movement within the descending channel pattern with $40K being a key resistance.

An immediate support for BTC is expected at $26,800. The daily RSI dropped marginally to fall below the 50 mark still remaining at a fairly neutral level.

 

Cardano(ADA) surged close to over 25% in the last 20 days or so as investors continued to accumulate ADA in this bear market.

Infact, Cardano is the most held cryptocurrency, according to a recent survey conducted by twitter handle @LondonRealTV.

The 4-hourly chart for Cardano has formed a megaphone pattern. The next resistance for ADA is expected at $0.69 and the next support is expected at $0.4 level.

Source: WazirX Trade Desk 

11:46 AM

NEWS ALERT :: Shanghai puts part of city back into lockdown as Covid-19 cases return, reports Bloomberg

11:41 AM

RBI monetary policy: Missing inflation mandate now a 'fait accompli'

Consumer price index-based inflation, the yardstick of the RBI in monetary policy making, was, on average, above 6 per cent during the January-March quarter. Read here

11:30 AM

Tamil Nadu agency blacklists Abbott for five years for hiding information

TNMSC Managing Director Deepak Jacob said the step was taken after a complaint from Paris Legal Cell in Chennai. Read more

11:15 AM

5G rollout unviable if captive private networks allowed, telcos tell govt

Telcos point to global trends and contend that 40 per cent of 5G revenues are expected from the enterprise segment and captive 5G networks will make 5G rollout unviable. Read more

11:01 AM

Brent at $124/bbl: Oil India hits over 7-year high; zooms 114% in one year

Oil India is well placed to benefit from rising oil and gas prices and high gross refining margins, analysts said. READ MORE

10:52 AM

LIC slides to fresh low

10:40 AM

MARKET CHECK: Sensex wipes off early losses, turns positive

10:29 AM

Liquor stocks firmly in green as Punjab govt cuts excise duty

The Punjab govt has approved an excise policy, which is expected to bring down the prices of liquor in the state by at least 30 to 40%.

 

10:28 AM

Crop-nourishing monsoon rains likely to pick up steam by mid-June: IMD

India's monsoon rains are likely to pick up by mid-June, the chief of the state-run India Meteorological Department (IMD) told Reuters on Wednesday, spurring the sowing of crucial crops such as rice, corn, cotton, soybean, sugarcane and peanuts. READ MORE

10:19 AM

BLS International soars 10% on acquisition of Zero Mass in an all-cash deal

BLS international now becomes the largest business correspondent (BC) network in India. The stock has rallied 66 per cent in the last three months. READ MORE

10:10 AM

Market view: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

>> With the monetary policy coming on expected lines without any significant market impact, the focus now will be on the US inflation data and its implications for interest rates and equity markets. The fact that the trading volume in US markets is very low indicates that the market is waiting for direction. Big market moves are likely after the data is out.

 

>> In India, the near-term texture of the market is 'sell on rallies'. FPI's sustained selling has become almost predictable. Only a declining inflation rate in the US and the possibility of the Fed turning less hawkish than now can change the trend of FPI selling.

 

>> FPI selling in banking stocks has led to depressed valuations in this segment, particularly in high quality banking majors. This is an opportunity for medium- long- term investors.