Investors poorer by Rs 7 trn as Sensex crashes 1,416pts; Nifty holds 15,800

CLOSING BELL: The Nifty IT index plunged 6 per cent on the NSE today after global brokerage JPMorgan downgraded the sector to "underweight".

Stock broker, broker, market crash, market fall, loss, trader, marker, markets, stock markets, stock

12:22 PM

India, fastest-growing major economy, projected to grow 6.4% in 2022: UN

The UN Department of Economic and Social Affairs said in its World Economic Situation and Prospects (WESP) report released on Wednesday that the war in Ukraine has upended the fragile economic recovery from the pandemic, triggering a devastating humanitarian crisis in Europe, increasing food and commodity prices and globally exacerbating inflationary pressures. READ MORE

12:11 PM

Asian markets: Mainland China indices recover; Hang Seng leads losses

source: finance.yahoo.com

12:02 PM

Manappuram Finance plunges 12%, hits 2-year low on weak Q4 results

The non banking financial company (NBFC), engaged in gold loan business, had posted profit of Rs 468 crore in the year-ago quarter (Q4FY21). Its net interest income (NII), meanwhile, fell 10.2 per cent YoY to Rs 986 crore from Rs 1,098 crore and consolidated asset under management (AUM) declined sequentially to Rs 30,300 crore from Rs 30,400 crore in Q3FY22. READ MORE

11:52 AM

Chart check: ITC could jump 40% on fresh breakouts, may hit Rs 400-mark

Though ITC is 40 points short from its all-time high of Rs 315.25-mark, the present scenario on the daily and weekly charts point to a strong up move. Read here

Photo: Shutterstock

11:47 AM

MARKET COMMENT :: 'Investors must be greedy when others are fearful'

Global inflation has become the biggest spoilsport and has derailed the economic growth recovery globally. The post-pandemic inflation which was once believed to be transient has now become an entrenched one. Inflation rates are at a 40-year high in countries like the UK, and USA. The American retail majors Walmart and Target have disappointed on the Q1 earnings front, indicating that even large companies are unable to cope with the supply chain and inflationary woes. This has created a huge sell-off and meltdown in the majority of the stock markets globally. India's WPI inflation jumped to a 17-year high, this will force RBI to further hike interest rates. All these factors have collectively led to a 2% fall in NIFTY and Sensex. However, we believe that investors must be greedy when others are fearful and use this opportunity to lap up quality shares with good growth prospects and reasonable valuations.

Views by: Parth Nyati, Founder, Tradingo

11:42 AM

EXPERT TAKE :: 'Cash holding among global fund managers at highest level since 9/11 attack'

11:30 AM

Midcaps worst hit among broader indices; underperform Sensex

11:19 AM

Sensex crashes 1,100 points: 6 factors underlining bearish sentiment

Tracking overnight slump in the Wall Street, the worst selloff seen since June 2020, analysts believe that the markets will remain on edge over fears of recession and concerns of a hawkish US Fed. Read here

Bear market, markets, bse, nse, sensex, nifty

11:08 AM

Asian companies to ramp up petrol exports to US as sky-high prices beckon

JPMorgan Chase & Co forecast this week that American gasoline could surge to as high as $6.20 a gallon by August. Read more

fossil fuels, solar, renewable, pollution, climate, environment

11:00 AM

Rupee extends losses, declines 12 paise to 77.74 against US dollar

The rupee extended its losses and slipped 12 paise to 77.74 against the US dollar in early trade on Thursday, weighed down by a muted trend in domestic equities and unabated foreign fund outflows. Read here

10:53 AM

NEWS ALERT :: M&M partners with Volkswagen for electric components

Click here for more details

10:50 AM

HDFC Bank hits 52-week low; slips 26% since merger announcement with HDFC

Slower-than-expected credit growth amid weakening macros due to the Ukraine-Russia conflict; further softness in margins due to slower retail credit growth are key risks, according to analysts. Read here

The strategy to rapidly expand branch networks comes at a time when all other banks are going digital

10:43 AM

Infra, cement cos feel pinch of falling rupee, realty counts on more sales

Despite rise in interest rates and property prices, momentum in housing demand expected to stay, say developers; infra, cement companies remain circumspect. Read more