ICICI, HDFC Bank lift Sensex off lows, ends 617pts down; Tata Steel dips 4%
CLOSING BELL: Bajaj Auto, HDFC Bank, ICICI Bank, Axis Bank, HDFC, Nestle India, Bharti Airtel, and Kotak Bank were the only gainers, rising up to 2 per cent
3:25 PM
JSW Steel in focus :: Co denies report of submitting bid to acquire Pawan Hans
>> It is hereby denied that JSW Steel Ltd submitted bid for acquisition of Pawan Hans Ltd and the company has no interest in this asset.
>> The media report is baseless and has no substance
>> The media report is baseless and has no substance
3:19 PM
MARKET COMMENT
Indian equity benchmarks opened in red following weak trade in Asian market peers as global sell-off triggered by aggressive US Fed tightening and China covid fears. During the afternoon session markets failed to erase losses and traded at days low as sentiments were fragile as India's crude oil import bill nearly doubled to $119 billion in the fiscal year that ended on March 31, as energy prices soared globally following the return of demand and war in Ukraine. Additional pressure came in as private report cut India's 2022-23 economic growth forecast by 70 basis points to 7 percent, citing slowing global growth due to high commodity prices, and weak local demand because of energy price hikes, inflationary pressures and a struggling labour market
Views by: Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers
Views by: Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers
3:06 PM
Sensex plunges 1,500 pts in two days: Key factors denting market sentiment
“There are concerns that aggressive monetary tightening might even push the US economy into a recession in 2023. These fears are impacting risky assets. India cannot be immune to a probable global market correction. But India is relatively resilient. Monetary tightening in India would be mild compared to that of the US," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. READ MORE
2:50 PM
Statsguru: IMF to World Bank, six charts explain growth forecast revisions
Earlier this month, the Reserve Bank of India (RBI), in its first monetary policy review of the fiscal year, had revised growth estimates for 2022-23 down by 60 basis points (bps), whereas the inflation forecast was revised to 5.7 per cent for this fiscal—closer to the 6 per cent ceiling. READ MORE
2:40 PM
ALERT :: Sensex crashes to day's low
2:26 PM
NEWS ALERT :: Indonesia removes crude, red palm oil out of export ban, reports Bloomberg
>> Only refined palm oil to stay under ban
2:19 PM
Adani Power m-cap hits Rs 1 trn-mark; AWL becomes 50th most-valued firm
Adani Power is the sixth Adani Group Company with a market-cap of over Rs 1 trillion. Adani Green Energy (Rs 4.42 trillion), Adani Transmission (Rs 2.93 trillion), Adani Total Gas (Rs 2.70 trillion), Adani Enterprises (Rs 2.49 trillion), Adani Ports and Special Economic Zone (Rs 1.81 trillion) are others have a market cap in excess of Rs 1 trillion each. READ MORE
2:07 PM
IT company Cyient to acquire Finland-based Citec for nearly Rs 800 cr
IT company Cyient will acquire global plant and product engineering services company Citec for about Rs 800 crore to strengthen its business offerings. Read more
1:53 PM
Market Check: Sensex down 600 points; slightly off day's lows
1:42 PM
European markets fall up to 2% tracking global weakness
source: finance.yahoo.com
1:38 PM
BSE 500:: Stocks recovering sharply from the lows of the day
Network 18 Media has zoomed nearly 11 per cent from the lows of the day. Quess Corp, IOL Chemicals, CRISIL and Esab India were the other significant movers. VIEW ALL
1:29 PM
Mainland China markets close up to 6% lower amid new Covid wave
source: finance.yahoo.com
1:24 PM
Palm oil prices surge on Indonesia ban in risk to global food inflation
Palm oil futures for July delivery rose 7% to 6,799 ringgit ($1,564) a ton in Kuala Lumpur, the highest since March 11, while the nearby May prices climbed more than 9% to a record for the contact. Soybean oil, palm’s closest food and fuel rival, rose 1.9% in Chicago to trade near all-time highs. READ MORE
1:16 PM
BSE 500:: Volume Shockhers
Endurance Tech, Godrej Agrovet, Mahindra CIE, Hikal and Aarti Industries were among the prominent stocks to witness unusually high volume in trades so far on the BSE. VIEW ALL
1:10 PM
Campus Activewear IPO :: Should you subscribe to the issue?
Campus Activewear Limited is India's largest sports and athleisure footwear brand.
It enjoys competitive advantages like integrated manufacturing facilities, strong brand recognition, robust distribution network.
The company has good growth prospects, good relationships with its stockists & suppliers, a focus on in-house designing, and an enviable supply chain network.
However, all the positives are priced in as the share is priced at a PE of 78.5 (annualized FY 22 earnings), and being an OFS we recommend this issue for long-term investors only.
Views by: Santosh Meena. Head of Research, Swastika Investmart
It enjoys competitive advantages like integrated manufacturing facilities, strong brand recognition, robust distribution network.
The company has good growth prospects, good relationships with its stockists & suppliers, a focus on in-house designing, and an enviable supply chain network.
However, all the positives are priced in as the share is priced at a PE of 78.5 (annualized FY 22 earnings), and being an OFS we recommend this issue for long-term investors only.
Views by: Santosh Meena. Head of Research, Swastika Investmart
Topics : Sensex MARKET LIVE MARKET WRAP Markets Nifty BSE NSE stock markets Dalal Street Russia Ukraine Conflict Brent crude SGX Nifty ICICI Bank Voltas Tata Motors Q4 Results
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First Published: Apr 25 2022 | 10:36 AM IST