Banks lift Sensex 390 pts, Nifty reclaims 16,700; Ultratech Cement up 5%

CLOSING BELL: Ultratech Cement, Grasim, UPL, HDFC, HDFC Bank, Eicher Motors, and ICICI Bank were the top gainers, ralling over 2 per cent each

11:10 AM

RBI Guv on impact on rate hikes:

>> Our decision on rate hikes always takes into consideration growth

>> Our target is and will continue to ensure a soft landing for our economy. We had reached soft landing until the Ukraine war broke out

>> We are dealing with high commodity prices

11:09 AM

RBI Guv at BOB banking conclave: Let's not shift the goal post at convenience

>> Inflation targetting remains key

>> Decision on liquidity takes growth into account

11:05 AM

RBI Guv at BOB banking conclave: Average inflation between 2016 and Feb 2022 was 3.4%

>> MPC decided to use the inflation flexibility of higher than 4% due to Covid-19 pandemic

>> RBI decided to inject liquidity to fight the onslaught of the pandemic

>> Inflation target framework has worked out well

10:59 AM

RBI Guv Das: As part of financial inclusion, banks should ensure timely credit to SMEs

10:58 AM

RBI Guv at BOB banking conclave: Banks must balance digital & paper initiatives

10:57 AM

Banks must embrace newer tech to remain updated: RBI Governor

>> A wave of digitization has struck banks across the globe 

>> Banks must strike a balance between digital and paper mode

>> Traditional banks should embrace newer technology to remain updated

>> Accelerated adoption of digital banking services will ensure business continuity 

10:44 AM

Gold, silver down in today's early trade; yellow metal at Rs 50,180/10 gm

Gold is currently trading at Rs 50,180 after a decrease of Rs 440. READ MORE

10:41 AM

NEWS ALERT :: Akasa Air begins bookings; first flight on Aug 7

10:36 AM

Adani Enterprises hits new 52-week high; stock soon to enter Nifty50

10:28 AM

IT stocks under pressure; Mphasis sheds over 2%

10:21 AM

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

>> The biggest positive for the bulls now is the complete reversal of FII action from relentless selling till July to sustained buying now, though only for 4 days in a row. This means the June low of 15813 is unlikely to be broken any time soon. The smart recovery in the Nifty Midcap by 12. 73% in the last one month is an indication that this recovery in the market is widespread and, therefore, strong. At least, for the short run, the domestic investors who bought when the FIIs sold, have emerged smarter.

 

>> Market action in the near-term will be in response to the results of the big boys RIL, ICICI Bank, Infosys and Kotak Bank to be released soon. Results are likely to be positive for markets.

 

>> Meanwhile ECB has joined the DM central bank majors in sharply raising rates and sending out a very strong hawkish message. So long as the leading central banks continue to hike rates, markets will remain volatile

10:14 AM

Happiest Minds surges 3% on healthy Q1 results

10:05 AM

Can Fin Homes surges 9% as net profit soars 49% YoY in June quarter

Pre-provision operating profit (PPOP) was up 10 per cent QoQ and 40 per cent YoY to Rs 215 crore. READ MORE

9:58 AM

Profit-booking in RBL Bank after solid Q1; stock slides 3%

9:53 AM

JSW Energy gains 2% after net profit jumps 179% YoY in Q1