Sensex zooms 934 pts, reclaims 52,500; Nifty tops 15,600; all sectors rally

CLOSING BELL: Beaten down PSB, Metal, and Energy (Oil and Gas) indices rose the most in today's trade. Related indices advanced between 4 per cent and 4.5 per cent

SI Reporter New Delhi

MARKET LIVE: Sensex soars 900pts, Nifty near 15,700; SBI surges over 4%

10:56 AM

MARKET CHECK: Sensex races 740 points ahead in early deals

10:45 AM

KEC International jumps over 5% on securing multiple orders

The company has bagged multiple orders worth Rs 1,092 crore across its businesses in India and overseas. READ HERE

10:38 AM

Will buy Indian stocks if Nifty drops to around 14,000 levels: Chris Wood

In the short-term, Wood suggests that investors should sell stocks on a rally. The bet for a sustained equity market rally before 2022 end is a possible change in the US Fed's language, he said READ MORE

10:22 AM

KNR Constructions dips 4%, hits 52-week low on margin concerns

As on March 31, 2022, the company has an order book position of Rs 9,001 crore. With this, KNR has targeted further order book inflow of Rs 4,000 to Rs 5,000 crore for the year FY23. READ HERE

10:18 AM

CRYPTO VIEW: Too early to call recent recovery in Bitcoin a bullish trend

Bitcoin recovered by nearly 9% in the last couple of days and edged above $20K.

The market sentiment continued to remain in the “extreme fear zone”. The buying momentum picked up in the last 2 days with the market recovery.

However, it is too early to call it a bullish trend reversal. On the daily time-frame, the BTC trend has formed a descending channel pattern.

The next key support for Bitcoin is expected at $14,000. BTC needs to continue its momentum in upwards of $30,000 for the trend to be considered as a bullish reversal.

Synthetix Network(SNX), a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi, rallied by nearly 100% in the last 2 days outperforming the Bitcoin and the overall crypto markets.

Infact, SNX became one of the top-10 bought crypto across all exchanges.

Source: WazirX Trade Desk

10:06 AM

HUDCO up 1% after Fitch Ratings revise outlook to 'stable'

10:01 AM

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

>> A distinct trend in the market now is the weakness in the broader market. While Nifty 50 is down 5.6 percent during the last one month, Nifty Mid and Small- cap indices are down 9.25 percent and 12.63 percent respectively during the same period. This trend is likely to continue as long as the market remains weak. The pull back rally will be led by high-quality fundamentally strong large-caps.

>> Meanwhile, the Finance ministry's latest Monthly Economic Review warns about the stress in government's finances caused by the rising food and fertiliser subsidies and revenue forgone from cuts in petrol and diesel taxes. Both fiscal and current account deficits are likely to deteriorate surpassing budget estimates. This macro headwind can turn out to be a headwind for markets too, particularly if crude remains at elevated levels. Investors should seek the safety of fundamentally strong large-caps during this phase of market turbulence.

9:55 AM