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

10:20 AM

Adani Enterprises hits new, surpasses LIC, ITC in market cap ranking

At 09:30 am, with a market cap of Rs 4.31 trillion, Adani Enterprises stood at 12th position in overall market cap ranking on the BSE. Read here

10:11 AM

MARKET CHECK | Sensex extends slide, sheds 650 pts

10:02 AM

Fed-induced market volatility could spur demand for gold: Experts

Use current correction to build a 10-15% allocation to yellow metal. Read here

9:55 AM

COMMENT | Market beginning to show signs of fatigue

The market has started showing some indications of fatigue. Globally, the major concern now is that the Fed might oversteer the economy and end up raising  rates too much too fast, pushing the US economy into a sharp recession.

There are talks of the terminal Fed rate rising to 4.25%. Sharply rising rates, rising bond yields and rising dollar are negatives for equity.

In this challenging environment it would be difficult for India to sustain the decoupling from the global trend, which has been a recent pattern in India.

Moreover, FIIs have halted their sustained buying and have turned sellers, though this is not yet a trend.

 

Investors may adopt a wait and watch attitude till the Fed meeting is over on 21st September.

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

9:52 AM

Patanjali Foods firmly higher in weak mkt

Patanjali Group plans to list the other four of its group companies in the next five years

9:49 AM

UPL erases opening gains; co buys 26% stake in Clean Max Kratos

The company has acquired a 26 per cent stake in Clean Max Kratos Pvt Ltd that will develop and maintain a hybrid 28.05 MW of solar and 33.00 MW of wind power project. UPL will invest Rs 39.6 crore in Clean Max Kratos.

 

9:45 AM

Vedanta tanks 6% on clarifying semiconductor mfg to be done by holding company Volcan

Clarified that the proposed business of manufacturing semiconductors is not under Vedanta Limited. It will be undertaken by the ultimate holding company of Vedanta Limited, Volcan Investments Limited.

 

9:40 AM

CSB Bank edges up on appointment of Pralay Mondal as MD & CEO

 The bank has appointed Pralay Mondal as MD & CEO with effect from September 15

9:37 AM

Vakrangee reverses Thursday's losses, jumps 5%

The company will raise Rs 300 cr via preferrential issue and convertible warrants

9:34 AM

IndusInd Bank surges 3% on re-appointment of Sumant Kathpalia as MD & CEO

9:30 AM

SECTORS | IT rout continues, index slips over 1%, Realty gain

9:27 AM

BROADER MARKET | Small-caps defy weak market

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9:24 AM

NIFTY LOSERS | M&M, Tech M, TCS lead weakness

9:22 AM

NIFTY WINNERS | UPL, Bajaj Finance, IndusInd Bank gain the most

9:20 AM

HEATMAP | Only 5 stocks in green on Sensex