Bull run enters 4th day; Sensex up 456 pts, Nifty tops 18,050; metals lead

CLOSING BELL: Top large-cap gainers were Bajaj Finserv, IndusInd Bank, Bharti Airtel, Tata Consumer Products, L&T, Britannia, Bajaj Finance, SBI Life, and Tata Motors.

3:20 PM

MARKET COMMENT: Naveen Kulkarni, Chief Investment Officer, Axis Securities PMS

The current market buoyancy globally, including in India, is based on the expectation that inflation has peaked along with softening crude prices. We believe that, to an extent, the expectation of inflation peaking is right, but one will have to keep an eye on energy prices in Europe & US with the onset of winter, which can re-ignite the inflation fire. The current momentum in the equity markets can sustain, but we would advise investors to raise some cash at the current levels, which can be deployed if the markets correct on either rate hikes or energy prices moving up again.

3:12 PM

ALERT :: GPT Infra bags order valued at Rs 173 crore

3:10 PM

HCL Tech lays off over 300 employees working on Microsoft news products

Company silent on layoff details, but sources say those asked to go are from India, Philippines and Guatemala. READ MORE

3:02 PM

Vedanta-Foxconn sees Guj semiconductor plant reaching break-even in 5 yrs

Signs MoU with state govt; Vedanta to invest $10 billion of the $20 billion earmarked for the project in the first phase. Read here

2:52 PM

India is not defending rupee, it can take care of itself: CEA Nageswaran

Chief Economic Advisor V Anantha Nageswaran said India is not defending the rupee and the RBI is taking steps to ensure that the movement of the rupee is gradual and in line with market trends. Read here

2:43 PM

Analysts bullish on banks, defence-related plays in the PSU pack

The rally in PSU pack thus far in CY22 was mostly led by stocks from the banking and defence-related verticals, while those of oil & gas and metals & minerals did not contribute much. Read here

2:32 PM

National List of Essential Medicines: All that you need to know about it

The Ministry of Health and Family Welfare released the first NLEM in 1996. It contained 279 medicines. The list was subsequently revised in 2003 and had 354 medicines. Read here

2:22 PM

Reports say HCL Tech laysoff 350 employees working on Microsoft news products

HCL Tech lays off 350 employees working on Microsoft’s news related products. The company informed employees in a town hall last week. Employees were laid off from geographies including Guatemala, Philippines & India, said a report by Monecontrol.

2:12 PM

ALERT | Govt may soon announce calibrated reduction in windfall tax

Govt likely to announce a calibrated correction in windfall gains tax levies in next few days, reports CNBCTV-18  

 

2:02 PM

Adani Enterprises becomes 4th Group firm to cross Rs 4 trillion market cap

Adani Enterprises will join the benchmark index, the most tracked stocks gauge in the country, from September 30 in place of Shree Cement. READ MORE

1:55 PM

RBI Sept monetary policy review: Another 35-50 bps repo rate hike on cards

According to economists, the central bank will continue to focus on bringing inflation down even though economic growth has remained sluggish. READ MORE

1:48 PM

Should you subscribe to Harsha Engineers IPO? Here's what analysts say

Harsha Engineers IPO: Its exports make up nearly two-thirds of its revenue, and it supplies its products to customers in over 25 countries across North America, Europe, Asia, South America, and Africa. READ MORE

1:42 PM

NEWSALERT: Lupin gets Health Canada nod Rymti

Lupin has informed BSE, that Health Canada has approved Rymti its biosimilar to Enbrel (etanercept) for use in Canada.

1:37 PM

Asian Markets Update:: Sensex, Kospi seen outperforming peers

Source: Yahoo Finance

1:30 PM

Dwindling foreign exchange reserves spells risk for EM currencies

Thailand saw the biggest drop in reserves as a percentage of the gross domestic product, followed by Malaysia and India, according to data compiled by Bloomberg. READ MORE