Sensex ends 352 pts off day's lows, rises 38 pts; L&T, Airtel top gainers

CLOSING BELL: The recovery was led by Kotak Bank (up 4 per cent), L&T, Bharti Airtel, SBI, HDFC Bank, HDFC, and ITC

12:21 PM

Sector check :: Fertiliser stocks hold ground amid weakness

12:10 PM

US Fed indicates further rate hikes as inflation shows no signs of abating

"Uncertainty about the medium-term course of inflation remained high, and the balance of inflation risks remained skewed to the upside, with several participants highlighting the possibility of further supply shocks arising from commodity markets," revealed the minutes on Wednesday of the Federal Open Market Committee (FOMC)'s July 26-27 meeting. READ MORE

12:01 PM

COMMENT | Bulls calling the shots now; near-term dips likely to be bought

The Fed minutes suggest continuation of the hawkish stance and this may slightly impact sentiments in the US. But this is unlikely to impact the bullish sentiments in India since the return of the FIIs has completely altered the market mood and the bulls are calling the shots now. Dips are likely to get bought in the near-term.

 

From the fundamental perspective, there are no triggers to take the market much higher from the present levels since there is no valuation comfort. Nifty is now trading at around 21 times FY23 earnings.

The market, it appears, is banking on continuation of good GDP and earnings growth this year and the next. If the growth momentum sustains capital goods and automobiles will attract more buying.

Views by V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

11:53 AM

FPI buying streak signals more upside for Indian equities

Domestic equity markets reached a 10-day streak of net foreign fund inflows on August 11, which has helped the NSE Nifty50 Index return to positive territory for the year. READ MORE

11:39 AM

China plans more fiscal stimulus as outlook darkens with rising Covid cases

China's local governments could sell more than $229 billion of bonds to fund infrastructure investment and plug budget gaps. Read more

11:26 AM

Sensex reclaims 60,000 mark. What should your market strategy be now?

On their part, technical analysts see the Nifty is hit 18,100-18,200 levels before it makes any major attempt to reverse. However, this journey, they caution, can see intermittent corrections. Read here

11:14 AM

GLOBAL MARKET CHECK | Asian indices continue to hold losses

 

11:00 AM

SBI Life hits new high; rallies 24% in 2 months on strong business outlook

With SBI Life's distribution channels firing on all cylinders, expanding product offerings and increasing acceptance, analysts expects robust growth to continue in FY23 and beyond. Read here

10:51 AM

Rupee depreciates 23 paise to 79.68 against US dollar in early trade

The rupee depreciated 23 paise to 79.68 against the US dollar in opening trade on Thursday, tracking the strength of American currency in the overseas market and a muted trend in domestic equities. Read here

10:40 AM

Airtel gets spectrum allocation letter; Mittal hails ease of doing business

Bharti Airtel received spectrum allocation letter within few hours of making upfront payment to the Department of Telecom, Bharti Enterprises founder and chairman Sunil Bharti Mittal said. Read here

10:34 AM

ALERT :: Power Mech Projects bags order worth Rs 6,163.20 crore from Adani Group

>> Power Mech Projects Limited (PMPL), Hyderabad based construction and services Company with spectrum of portfolios has bagged a record order for 5 Flue Gas Desulphurization [FGD] projects with an aggregating value of Rs 6,163.20 crore

Source: BSE filing

10:24 AM

ALERT :: Axis Bank hikes lending rates by 5 bps across tenures

10:15 AM

Titan, Kalyan: Jewellery stocks to dazzle in festive season, say analysts

Analysts see more upside for jewellery stocks as festive demand kicks in post the correction of gold prices. Read here

10:05 AM

Sona BLW Precision slips 6% after huge block deals

Till 09:30 am; a combined 126 million equity shares or 21.56 per cent of Sona BLW total equity changed hands on the BSE (92.24 million) and NSE (33.76 million shares), the exchanges data show. Read here

9:57 AM

Craftsman Automation adds 2% as new plant commences operations

The company has commenced the commercial operations of its new plant at Pune, Maharashtra.