Indices snap 5-day losing run; Sensex soars 574 pts, tops 57,000; RIL up 3%

CLOSING BELL: Ultratech Cement, RIL, Maruti Suzuki, Asian Paints, Bharti Airtel, and TCS were the top Sensex gainers

1:12 PM

BSE 500:: Volume shockers

Emami, Vinati Organics, Torrent Pharma, MRPL and AU Small Finance Bank among stocks to record unusually high volume in trades so far on the BSE today.

12:59 PM

Oil & gas assets: Centre eyes innovative ways for asset monetisation

The centre is exploring innovative ways to monetise assets in oil and gas as well as other sectors in the ongoing fiscal year. READ MORE

12:50 PM

Select telecom stocks testing key supports; MTNL may soar 20%, charts show

The BSE Telecom index is likely to gain up to 3.50 per cent, as the index firmly holds the support around the 100-DMA, shows chart. READ MORE

12:40 PM

IT shares trade on a firm note, led by TCS

TCS, Tata Elxsi and MphasiS had surged over 2 per cent each in trades so far, while Infosys and Wipro were up around 1.5 per cent each.

12:39 PM

Growth trajectory, margins anc client additions to sustain for Laurus Labs

With returns of over 20 per cent, Laurus Labs is by far the best performing pharmaceutical stock over the past three months. In comparison, its peer index, the Nifty Pharma, is struggling to make money for investors shedding a per cent.

 

In fact, barring Sun Pharma and Cipla (10-12 per cent returns), all the pharma companies were in the red in this period.  READ MORE

12:28 PM

Asian Markets Update:: A mixed day so far

12:20 PM

Japan formally revokes Russia's 'Most Favoured Nation' trade status

Japan formally revoked Russia's most favoured nation trade status Wednesday over its invasion of Ukraine, as Tokyo steps up sanctions amid revelations of the Russian military's widespread atrocities against civilians. READ MORE

12:11 PM

Oil prices rebound after sharp losses as supply concerns dominate

Brent crude futures rose 98 cents, or 0.9%, to $108.23 a barrel by 0400 GMT while the front-month WTI crude futures contract, which expires on Wednesday, rose 94 cents, or 0.9%, to $103.50 a barrel. READ MORE

12:01 PM

MRPL surges 13% on heavy volumes; stock zooms 58% so far this month

Shares of Mangalore Refinery & Petrochemicals (MRPL) hit over three-year high of Rs 65.45, after it rallied 13 per cent on the BSE in Wednesday’s trade, on the back of heavy volumes. The stock of state-owned refineries & marketing company surged 24 per cent in the past two trading days. READ MORE

11:48 AM

BSE 500:: Top losers so far

TTML has hit the 5 per cent upper limit. L&T Infotech, IRB Infra Developers, Gail India and Indian Hotels were were the other significant losers in the broader market.

11:39 AM

BSE 500:: Top gainers so far

MRPL has zoomed over 11 per cent and was the top gainer among the BSE 500 shares. Capri Global, Responsive Industries, Vinati Organics and Jamna Auto were the other major gainers.

11:33 AM

ALERT: Japan expects impact on oil prices from planned release of strategic reserves

11:20 AM

EXPERT VIEW on IMF slashing India GDP growth forecast

< The GDP forecast cut is not surprising as RBI during its last meet had cut its GDP forecast to 7.2 percent from 7.8 percent.

< The geopolitical factors, high commodity prices, and weaker domestic demand (as higher oil prices are expected to weigh on private consumption and investment) are some of the factors that led to the GDP forecast cut.

<However, compared to other large nations, this growth rate forecast is still amongst the highest.

< We believe that the financial markets have already discounted the cut and even the other agencies have shared a similar view on the GDP forecast cut.

< Currently, the market is extremely volatile and will stay the same in the short term.

< Any negative surprise from the inflation side can lead to more than expected stringent action by the central bank, further aggravating the GDP forecast cut issue.

Views by Santosh Meena, Head of Research, Swastika Investmart

11:12 AM

Cement shares steer higher; ACC gains 5%

 

11:04 AM

Analysts bullish on real estate sector amid increased capex, healthy demand

After a decade of downtrend, rising investments within private corporates in industrial and household segments, bottoming out of prices, and sustained demand have brightened the outlook for the real estate sector. Read more