Sensex falls 865pts from day's high, ends flat; RIL dips 2%, IT stocks gain

CLOSING BELL: Around 3:30 PM, the mega IPO of Life Insurance Corporation (LIC) was subscribed 91 per cent with policyholders' quota seeing a subscription of 2.79 times

10:26 AM

NEWS ALERT: ICICI Bank, Bank of Baroda hike benchmark lending rates by 40 bps each

source: TV reports

10:20 AM

Matrimony.com gains 6% as board plans to mull share buyback proposal

The board will meet on May 12, 2022, to consider the proposal for buyback of equity shares of the company, the quantum, and mode of buyback. READ MORE HERE

 

10:20 AM

MARKET CHECK: Sensex surges over 850 points, Nifty above 16,900

 

10:13 AM

Ambuja acquisition could be LIC's windfall; acquirer to make open offer

A big bonanza awaits Life Insurance Corporation (LIC) of India, which owns a minority stake of Rs 7,047 crore in both Ambuja Cements and in its subsidiary ACC, with a new owner taking over India’s second-largest cement company. LIC owns 6.3 per cent stake worth Rs 4,602 crore in Ambuja Cements and 5.66 per cent stake worth Rs 2,445 crore in ACC. Read here

10:01 AM

CarTrade Tech slips over 7% after loss widened in Q4

9:54 AM

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

>> RBI's decision to raise repo rate and CRR by 40bp and 50bp respectively came as a surprise since the decision was taken by the MPC in an unscheduled meeting indicating that the central bank was behind the curve. The market reaction with a 1300 point cut in the Sensex reflected concern regarding high inflation and the potential impact  of high interest rate on growth and corporate earnings.

 

>> On the other hand, the Fed's clear communication triggered a sharp relief rally in the US market. There are three positive takeaways from the Fed's announcement. One, there won't be a 75 % rate hike and the market can expect a 50bp rate hike in the next two meetings also. Two, there is some evidence that inflation may have peaked. Three, the US economy continues to be strong with household spending, businesses and labour markets in good shape.

 

 

9:49 AM

ABB India soars 9% on robust March quarter earnings, strong order book

The company has a strong order backlog as of March 31, 2022, at Rs 5,229 crore, which provides revenue visibility and is well aligned to support growth plans in the coming quarters. READ MORE HERE

9:42 AM

ABB India spurts over 8% after net profit jumps two-fold in Q4

9:35 AM

Profit-booking in Tata Consumer after net profit jumps three-fold in Q4

9:29 AM

Opening bell: Tata Consumer, Nestle, Titan top Nifty 50 losers

9:28 AM

Opening bell: ONGC, Hero Moto, Tech Mahindra top Nifty 50 gainers

9:24 AM

Opening bell: Broader markets shine; India Vix cools off below 7%

9:22 AM

Opening bell: Barring Nifty FMCG, all sectors open in green

9:20 AM

Opening bell: 25 out of 30 Sensex stocks open in positive territory

9:18 AM

Opening bell: Sensex opens higher by over 500 points