Sensex sinks 1,172 pts, Nifty below 17,200; Infosys tanks 7%, HDFC Bank 5%

CLOSING BELL: Dismal March quarter earnings by HDFC Bank & Infosys, coupled with fears of aggressive rate hikes amid rising inflation, soaring bond yields, & resurgence in Covid-19 cases hit sentiment

9:52 AM

Upside seems limited for MCX Gold; Silver may rally past Rs 71,000-level

The MCX Gold futures are likely to face considerable resistance around Rs 53,500-odd levels; MCX Silver futures can test Rs 71,300 on the upside. READ MORE HERE

 

9:50 AM

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

In the near-term, headwinds are getting stronger for the market. Globally, sentiments are negative with Dollar index above 100, 10-year yield above 2.8 percent and global economy expected to weaken if the Ukraine war prolongs. Back home in India, Infosys results came worse-than-expected with rising attrition and   weakening margins even though growth prospects appear bright. IT valuations may come under pressure dragging the index down. A clear trend in the market is preference for value over growth. This trend and the outperformance of the mid-caps are likely to continue. Investors will get buying opportunities in these segments on declines.

9:48 AM

IndiaBulls Real Estate falls over 4%, co raises Rs 8.65 billion through QIP

 

9:46 AM

Sectoral trends: Nifty IT leads losses, falls 4%

 

9:44 AM

Broader markets deep in red, but outperform benchmarks

 

9:29 AM

Opening bell: Infosys, Tech Mahindra, HDFC top Nifty 50 laggards

9:26 AM

Opening bell: ONGC, NTPC, Bajaj Auto top Nifty 50 leaders

9:23 AM

Opening bell: All sectors open in negative zone

9:20 AM

Opening bell: Only 6 Sensex stocks open in positive territory

9:18 AM

Opening bell: Nifty 50 opens below 17,200 levels

9:17 AM

Opening bell: Sensex opens lower by over 950 points

9:12 AM

Pre-open session: Only 4 Sensex stocks hold strength

9:11 AM

Pre-open session: Nifty 50 slips below 17,200 levels

9:09 AM

Pre-open session: Sensex sheds over 1,000 points

9:05 AM

JSPL Q4 update :: Steel production and sales hit a record of 8.01mt and 7.63mt respectively in FY22

>> Despite facing several challenges throughout FY22, JSP managed to meet its production guidance; breaching the 8 million tonne mark for the first time.

>> For the fifth consecutive year, JSP has posted spectacular growth in annual Steel sales on a year on year basis. In FY22 as well a new annual record has been established with 7.63 mt of Steel sales (5.03% Y-o-Y). Exports accounted for 33% of sales in March; in line with the FY22 share.