Sensex slips 537pts on weak global cues, Nifty holds 17K; Bajaj Fin dips 7%

CLOSING BELL: Life Insurance Corporation of India (LIC) will come out with its IPO on May 4

10:46 AM

4-day LIC IPO to open from May 4 to May 9

Issue dates: 4 May - 9 May

Issue size:  Rs 20,557.23 crore 

Price band: Rs 902-949 

Bid lot size: 15 Share 

Application amount: Rs 13,560

 

Reservation
Retail: 35 per cent

Policyholder: 10 per cent 

 

10:45 AM

LIC IPO :: 'The issue would have a bumpy ride'

The Life Insurance Corporation of India's initial public offer has been touted to be the biggest issue in India's capital market history, so there was a very high probability that the issue would have a bumpy ride

The global macros have changed significantly since the last announcement of Rs12-13 lakh crores expected valuation by the government.

Inflationary headwinds, Ukraine War, and the global economic slowdown have created extreme volatility in stock markets of an emerging market like India.

Due to compliance-related constraints, the government has a deadline of 12th May 2022 for the LIC IPO. Hence, the government decided to slash the valuation to Rs 6 lakh crores to ensure that the IPO sails smoothly within the aforementioned deadline.

Views by: Santosh Meena, Head of Research, Swastika IInvestmart

10:36 AM

Most sectoral indices dip over 1%, IT leads decline

 

10:35 AM

LIC IPO :: Price band announced at Rs 902-949

10:34 AM

ONGC struggling to move Russian oil to Asia as sanctions bite: Report

Several Indian companies including ONGC have stakes in Russian oil and gas assets, and India has been buying more Russian crude since Moscow invaded Ukraine. READ MORE HERE

10:27 AM

CARE Ratings slips 13%, nears 52-week low after MD & CEO resigns

The board has accepted the resignation of Ajay Mahajan as the MD & CEO of the company due to personal reasons. READ MORE HERE

10:25 AM

Reliance Industries becomes 1st Indian company to hit Rs 19-trillion m-cap

Mukesh Ambani-led Reliance Industries Ltd's (RIL) became the first Indian listed company to touch the Rs 19-trillion market capitalisation-mark after its shares scaled a record high. Read more

10:14 AM

Veranda Learning freezes at 10% upper circuit; up 67% against issue price

In the past two days, the stock has rallied 15% after the company signed a definitive agreement to acquire T.I.M.E. (Advanced Educational Activities Pvt Ltd) for a consideration of Rs 287 crore. READ MORE HERE

 

10:11 AM

HUL declines over 1% ahead of Q4 results

10:06 AM

Mahindra Logistics soared over 10% after net profit doubled QoQ in Q4

10:00 AM

Technical view: Anand James - Chief Market Strategist at Geojit Financial Services

If corrections do not extend much beyond the 17080-30 region, we will remain hopeful for ascent resuming towards the 17270-400 band. A close below the same, or a direct fall below 16900, would lend momentum to the 16400-15800 move.
 

 

9:55 AM

MCX Crude Oil futures can rally up to Rs 8,300; Key levels to watch out

The bias is likely to remain bullish as long as Crude Oil futures sustain above Rs 7,830, below which the next crucial support is at Rs 7,730. READ MORE HERE

9:51 AM

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

>> The roller coaster ride in markets is set to continue in the near-term.

>> With the 3.95% sell-off  yesterday, Nasdaq is now 23% down from its record highs and, therefore, can be said to be in bear market territory. But yesterday's fall has more to do with Tesla's 12% crash and therefore a bounce back cannot be ruled out.

 

>> The real worry for markets now is a possible sharp global slowdown triggered by the coming aggressive monetary tightening in the US, severe Covid-related lockdowns in China and woes in the Euro Zone caused  by the Ukraine war.

>> The dollar index moving above 102 and the US 10-year bond yield dipping to  2.7% reflect this growth slowdown fears.

>> In India there are clear signs of improvement in business sentiments. Investors can use the sharp dips in markets to buy value stocks like the leading banks

9:48 AM

Adani Group stocks edge lower in trade

9:43 AM

United Breweries gains over 1% after robust Q4