Sensex gains for 2nd day, rises 632 pts; Nifty holds 16,350; IT stocks lead

CLOSING BELL: Apollo Hospitals, Tech M, HDFC Life, Hero MotoCorp, IndusInd Bank, Bajaj Finance, Wipro, Infosys, L&T, HUL, and Bajaj Finserv zoomed over 2.5 per cent on the Nifty

12:57 PM

Economic recovery is underway despite headwinds: RBI annual report

“…the year gone by brought many challenges, but a recovery is underway in spite of headwinds. The future path of growth will be conditioned by addressing supply-side bottlenecks, calibrating monetary policy to bring inflation within the target while supporting growth and targeted fiscal policy support to aggregate demand, especially by boosting capital spending,” the report said. READ MORE

12:50 PM

Crypto technical analysis: Immediate support for BTC at $26,800

Bitcoin fell by 1% yesterday to momentarily drop below the $29K level without any significant movement.

On the 4-hourly time-frame, the BTC trend is moving within a triangle pattern in a wedged manner.

The daily RSI is a tad under the 40 mark and still reeling near the oversold zone.

An immediate support is expected at $26,800. 

 

Ethereum witnessed a major correction as it fell by nearly 9% in a single day falling below the $1,800 level for the first time in 9 months.

ETH against BTC also dropped and lost around 6% as Bitcoin’s dominance index surged above 46%.

The daily chart for ETH-BTC has broken below the ascending channel pattern, breaking its previous support level of 0.064. The next  support for ETH-BTC is expected at 0.055 level.

By: WazirX Trade Desk 

12:42 PM

Reserve Bank balance sheet grows by 8.46 per cent in FY22: Annual report

FY22 was the first full year of the April-March accounting cycle after transition. It shifted to a new accounting year in FY21 which was for Nine months ended March 2021.

 

The year ended with an overall surplus of Rs 30,307.45 crore as against Rs 99,122 crore in the previous year (FY21). READ MORE

12:32 PM

NEWS ALERT :: Muthoot Finance lowers NIM guidance to 10-11% from 12.2% reported in Q4

12:28 PM

PSUs in focus: Coal India may hit new all-time high; BPCL could fall 11%

On its part, the Nifty PSE (Public Sector enterprise) is presently hovering around major support level, which it has held since January 2021. Any pullback could see robust rally with major stocks seeing sharp gains. READ MORE

12:27 PM

ONGC tumbles 6% to hit four-month low; stock down 27% from 52-week-high

The stock of the state-owned oil and gas exploration also under pressure after UK imposes 25 per cent energy windfall tax on oil and gas producers. Read more

12:14 PM

Strong demand powers Indian economy past record inflation, for now

The activity backed by stronger new orders was accompanied by a bump in output prices as producers started passing on high raw material costs to consumers. Read here

12:00 PM

High gas prices, energy security fears impede decarbonisation push

Europe is importing record volumes of liquefied natural gas (LNG) as gas from its top supplier Russia has been disrupted following the Ukraine crisis.

11:51 AM

RBI Annual Report :: Near-term global economy outlook fluid, extremely uncertain

>> Global recovery seen suffering major momentum loss in 2022

>> Economic recovery broadening

>> Priority is supporting growth while controlling inflation

>> Global economic outlook is overcast by cost of war, sanctions 

11:43 AM

Airtel remains a core investment in our international portfolio: Singtel

In a press statement, the Singapore-based telecom firm said it does not comment on market speculation. Read here

11:26 AM

India Q1 GDP release on Tuesday: Likely to have slowed for 3rd quarter, shows Poll

Growth in Asia's third-largest economy was pencilled in at 4.0% for the January-March quarter from the same period a year ago in a Reuters poll of 46 economists. Read more

11:16 AM

China's industrial profits slump in April as Covid curbs squeeze firms

Industrial output from the commercial hub of Shanghai, located at the heart of manufacturing in the Yangtze River Delta, nosedived 61.5% in April.

11:08 AM

Page Industries gains 8% on strong operational performance in March quarter

The company said that the sales momentum picked up significantly across all product categories backed by expansion in portfolio and existing network. Read more

10:58 AM

Muthoot Finance sinks 9% on weak Q4 result; analysts bearish on stock

India's largest gold financing company on Thursday reported a 4 per cent decline in standalone profit at Rs 960 crore as compared to Rs 996 crore profit reported during the corresponding period last year. The company's standalone income also dipped 5 per cent to Rs 2,678.37 crore. READ MORE

10:47 AM

Paradeep Phosphates lists at 4% premium; extends rally to gain up to 13%

At 10:07 am; Paradeep Phosphates was trading at Rs 45.85, up 5 per cent from its opening level on the BSE. A combined around 56 million equity shares had changed hands on the BSE and NSE. Read more