Recession fears hit equities; Sensex sinks 1,093 pts, Nifty gives up 17,550

CLOSING BELL: PSU banks, auto, IT, metal, and realty stocks plunged the most on the bourses. Their respective indices on the National Stock Exchange declined between 2 and 4 per cent

3:01 PM

Zydus Lifesciences US arm gets tentative USFDA nod for Sugammadex injection

Zydus Lifesciences Ltd said its US-arm has received tentative approval from the country's health regulator to market its generic version of Sugammadex injection. READ MORE

2:56 PM

India's high govt borrowing may be offset by lower debt issuance: ICICI Sec

Indian government's potential higher borrowing in the second half of this financial year could be offset by lower debt issuance by states, ICICI Securities Primary Dealership said. READ MORE

2:47 PM

BSE 500:: Top weekly losers so far

Elgi Equipments down over 13 per cent and was the top loser among the BSE 500 stocks in the last one week. Similarly, Asahi India Glass, Mahindra Life, Timken India and HUDCO were the other major losers, down over 11 per cent each.

2:38 PM

Global Check:: US, UK stock futures down 1-2%

Source: Investing.com

2:30 PM

Sensex 30 draggers:: Reliance, HDFC Bank weigh the most

2:24 PM

RBI likely to raise repo rate by 50 basis points to 5.9%: Morgan Stanley

"We were earlier expecting a 35bp increase, however, sticky inflation and continued hawkish stance of DM central banks, warrants continued front loading of rate hikes, in our view," the report said. READ MORE

2:16 PM

BSE 500:: Top losers so far

Allcargo and Vedanta slumped around 8 per cent each and were the top losers among the BSE 500 stocks so far on Friday. It was followed by Astral, MRF and Intellect Design, down 7 per cent each.

2:08 PM

Stock of this real estate company has more-than-doubled in 17 trading days

Shares of DB Realty were locked in the 5-per cent upper circuit band for a fifth straight day, at Rs 109.50 on the BSE, on Friday on the back of heavy volumes. In comparison, the S&P BSE Sensex was down 1.3 per cent at 59,181 points at 1:10 PM. READ MORE

2:01 PM

Bucking the trend:: Top gainers among BSE 500 so far

Mishra Dhatu zoomed nearly 10 per cent to Rs 224 and was the top gainer among the BSE 500 stocks so far on Friday. It was followed by Easy Trip Planners, Bharat Dynamics, Vakrangee and Mazagon Dock. VIEW MORE

2:00 PM

MARKET CHECK :: 'Indian markets may continue to outperform but can't remain in isolation for long'

>> Global cues continuously remain weak as there is a sharp surge in the dollar index and US bond yields post US inflation numbers.

>> We may continue to outperform but we can't remain in isolation for a long time. Global markets are looking nervous ahead of the FOMC meeting because there is talk of a 100 basis rate hike while a 75 basis rate hike was already discounted. 

Key levels to watch

>> Nifty is facing resistance at the 18,100 level and it has slipped below its 20-DMA of 17,700 which may lead to some more selling pressure where 17,470-17,400 is an immediate demand zone

>> 17,150 is a sacrosanct support level.

>> Bank Nifty is outperforming. On the downside, 40,900-40,700 is an immediate demand zone; below this, 40,270 is the next important support level

Views by: Santosh Meena, Head of Research, Swastika Investmart 

1:54 PM

ALERT :: Bloodbath on D Street; Sensex tanks nearly 1,000 pts

1:50 PM

IRCTC causing loss to exchequer, tax consultant tells finance ministry

Chandigarh-based tax consultant Ajay Jagga said the Supreme Court recently issued notices to the Central government on a plea seeking to plug existing loopholes in the GST system. READ MORE

1:39 PM

ALERT :: Blinkit partners with Apple reseller unicorn to deliver Apple IPhones and accessories within minutes

>>  Available in Delhi and Mumbai for now

Source: TV reports

1:34 PM

MARKET CHECK :: Broader indices crack around 2%

1:29 PM

MARKET CHECK :: Sensex plunges 900 pts