Sensex down 1457pts, Nifty gives up 15800 on global rout, ahead of CPI data

CLOSING BELL: The top laggards were Bajaj Finserv, IndusInd Bank, Bajaj Finance, Hindalco, Tech M, Tata Motors, ICICI Bank, Adani Ports, NTPC, and TCS

3:38 PM

Closing Bell: Nifty50 tanks 427 pts to close below 15,800

 

3:36 PM

Closing Bell: Markets fall the most in 3 weeks; Sensex plunges 1,457 pts

 

3:23 PM

Debt mutual fund sees Rs 32,722-cr outflow in May on rising interest rates

Mutual funds focused on investing in fixed-income securities witnessed a net outflow of Rs 32,722 crore in May in the wake of Reserve Bank of India (RBI) stance on monetary policy turning hawkish. Read more

3:14 PM

Zee Ent under pressure; down 5% amid bidding for IPL media rights

Shares of Zee Entertainment Enterprises lost over 7%, the worst decline in more than three months. Here's what an expert says-

 

"The merged entity Zee-Sony are bidding for the exclusive rights of TV and Digital rights, which at the end of yesterday's session ended about 10,000cr above the base price set by BCCI at 32000cr. This itself is an unusually high bid, which in the case is won by Zee-Sony would be too ambitious compared to their affordability. This would require raising some considerable debt thus impacting the numbers. Therefore the pressure is seen on the Zee stock price anticipating a win at the end of the bidding session"

Views by Ashwin Patil, Senior Research Analyst at LKP Securities. 

 

3:05 PM

Tata Steel unveils 7 mn pound green investment plan for UK steel tube mill

Tata Steel has unveiled a 7-million pound investment plan for its Hartlepool Tube Mill in north-east England that the Indian steel major says will cut carbon emissions, improve capacity and reduce cos. Read more

2:57 PM

Dismal trade for US equity futures post red-hot inflation data

2:54 PM

MARKET COMMENT :: 'We are close to bottoming out'

Our research suggests that as soon as the Sensex PE multiple falls below 20x, the markets start looking very attractive from a 2-3 year perspective.

 

Right now, the Sensex trades at a PE multiple of close to 22x. This means we are very close to the levels where we can again dream of earning returns in the region of 16%-18% per annum over the long term.

 

From a sectoral perspective, it would make sense to look at sectors that are more domestic oriented like auto, capital goods and the whole defence space.

Views by: Rahul Shah,Co-Head of Research at Equitymaster 

2:52 PM

European markets edge lower amid negative global cues

2:46 PM

Nifty IT index crashes over 4%; TCS, Infosys, LTI, LTTS plunge up to 6%

Global growth is expected to moderate from 6.1% in 2021 to 3.6% in 2022, driven by withdrawal of monetary accommodation in major economies, continued supply side shortages and economic damage from war. READ HERE

2:38 PM

Nifty IT slips 4%; Coforge hits 52-week low

2:30 PM

All 30 counters on Sensex drown in red

2:24 PM

Reliance Infra to receive Rs 595 cr from Damodar Valley Corp by July end

Reliance Infrastructure Limited (Reliance Infra) is set to receive a sum of Rs 595 crore from Damodar Valley Corporation (DVC) by July 31. READ HERE

2:15 PM

LIC shares face renewed selling pressure as anchor lock-in ends; fall 4.5%

Analysts said this week is likely to be a litmus test for LIC on whether the stock finds buying support from institutional investors like mutual funds at these lower valuations. READ HERE

2:08 PM

Nestle India, Britannia the only Nifty50 gainers

2:03 PM

Broader markets bleed up to 4%; India Vix soars nearly 16%