Sensex gyrates 690 pts, ends 89 pts down; metal, pharma rally, banks slide

CLOSING BELL: Dr Reddy's Labs (up nearly 5 per cent) was the top Nifty gainer today, followed by Coal India, Hindalco, Cipla, NTPC, JSW Steel, Tech M, and RIL

9:51 AM

Ruchi Soya slips as Rs 4,300 crore FPO kicks off

9:48 AM

Bajaj Electricals abuzz post trade license renewal with Morphy Richards

9:42 AM

Hero Moto extends decline from last session on I-T raid reports

9:38 AM

Nifty outlook: Anand James, Chief Market Strategist at Geojit Financial Services

While stressing that an explosive move past 17500 would be a low probability scenario, yesterday, the point that we had lined up for the next assault from bears was further away and at 17760. In doing so, we underestimated the significance of 17450/50 to act similarly, even though this point would have completely fulfilled an up move that we have been playing for the last few days. A full fledged reversal would be calling for 16400, but candlestick patterns are yet to signal the same, towards the end, we favour a mean reversion move aiming 16700, while giving a weak to moderate chance for 17000 mark to let bulls regroup.

 

9:35 AM

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

The market now lacks direction and is moving up or down on a daily basis responding to news regarding crude price, FPI flows and speculation on what the Fed might do in the coming policy meets. Nifty is likely to move in the 17000 - 17500 range in the short run. A breakout above this range can happen if there is positive news from the war front which can bring crude prices sharply down. If crude prices remain elevated for a longer period it will impact India's GDP growth and push inflation higher. Safety is now in IT and pharma which are insulated from high crude prices and high inflation. FMCG and cement segments will face margin pressure. High quality financials are in a sweet spot.

9:32 AM

Opening bell: Metal counters glistening green; NALCO shines above 2%

9:29 AM

Opening bell: Broader markets resilient; India Vix in green

9:28 AM

Opening bell: Kotak Bank, HDFC Bank, ICICI Bank lead Nifty 50 declines

9:25 AM

Opening bell: Coal India, ONGC, Hindalco top Nifty 50 gainers

9:24 AM

Opening bell: Zee boosts Nifty Media higher as Invesco withdraws EGM requisition

9:21 AM

Opening bell: Media, metal, IT stocks in demand

9:20 AM

Opening bell: 9 out of 30 Sensex stocks open in green

9:18 AM

Opening bell: Nifty 50 opens in red, slips below 17,150 levels

9:17 AM

Opening bell: Sensex opens lower by over 300 points

9:09 AM

Pre-open session: Only 4 Sensex stocks hold gains