Indices fall for 5th day; Sensex dips 38pts, Nifty at 17K after choppy day

CLOSING BELL: Among sectors, defensives rose in trades today with the Nifty IT, FMCG, and Pharma indices advancing between 0.6 per cent and 0.9 per cent

10:15 AM

Metro Brands extends rally on strong outlook; zooms 69% in 2 months

Going forward, the growth momentum is expected to pick up and the footwear sector is estimated to reach Rs 1.4 trillion by FY 2024-25. Read here

10:03 AM

COMMENT | Rising dollar and US bond yields roiling equity markets globally

The dominant dynamic roiling equity and currency markets globally is the combination of relentless rise in dollar and the sustained rise in US bond yields.

So long as this trend continues, equity markets will be under pressure. FPIs turning big sellers in India (Rs 5101 cr in cash market yesterday) is an indication of the risk-off in equity in emerging markets.
 

In the context of rising US bond yields, RBI will be forced to raise rates by around 50 bp on September 30th. This will be another negative for equity markets.
 

In brief, except for falling crude there are no positive triggers for the equity market now. This is not the time to aggressively buy the dips.

However, there is scope for selective buying in the broader market. There are stocks rising even in this weak market. These are signals of accumulation on strong fundamentals.

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

9:56 AM

Dish TV slumps 6% as shareholders reject financial results, other resolutions at AGM

In a filing today, the company said its shareholders had rejected four of six resolutions at an annual general meeting on Monday. 
 

The resolutions not approved by shareholders include those related to adoption of financial statements for fiscal years 2021 and 2022, appointment of new statutory auditor SN Dhawan & Co, and appointment of Rakesh Mohan as non-executive independent director.

9:53 AM

Filatex India adds over 2% on commissioning manufacturing lines at Dahej unit

The company has commissioned its project for debottlenecking a melt capacity of 50 MT per day and manufacturing lines of 120 MT per day at Dahej Plant.

9:51 AM

Shakti Pumps soars 5%; receives $6 mn from EXIM Bank to supply water system to Uganda

The company has received an advance worth $6 million from EXIM Bank on behalf of the Government of Uganda to supply solar‐powered water pumping system.

9:47 AM

JSW Energy gains around 1% as IndRa upgrades credit rating

India Ratings and Research has upgraded the rating of the company's long-term facilities to 'IND AA/Stable' from lND AA-/Stable'.

9:44 AM

Embassy Office REIT slips 1%; Blackstone Inc said to sell 7.7 cr shares worth Rs 2,650 cr

Blackstone Inc is slated to sell 7.7 crore units of Embassy REIT worth Rs 2,650 crore via block deals on September 27, as per reports. The offer price of the block deal stands at Rs 345 per unit.

9:40 AM

Sterlite Tech sheds 1%; arm to sell its stake in UK-based company

Sterlite Global Venture (Mauritius), a wholly owned subsidiary of the company has agreed to sell the entire stake (amounting to 80 per cent of the entire share capital) held in Impact Data Solutions Limited, UK to Hexatronic Group AB.

9:37 AM

Mahindra Logistics gains 3% on acquiring B2B express biz of Rivigo Services

The company has announced the acquisition of the B2B express business of Gurugram-based logistics firm Rivigo Services. 

9:34 AM

SECTORS | All pockets in green; PSBs, FMCG lead

9:32 AM

BROADER MARKETS | Small-caps firmly outperform benchmarks

9:30 AM

NIFTY DRAGS | Apollo Hospitals, Hindalco, Here Moto top losers

9:26 AM

NIFTY GAINERS | ONGC, Cipla, BPCL top index winners

9:23 AM

EARLY DEALS | Sensex extends gains, adds 450 pts

9:21 AM

HEATMAP | All Sensex stocks sit higher barring Maruti, HDFC