Sensex tanks 461 pts, Nifty below 18,300 amid global rout; all sectors fall

CLOSING BELL: Among sectors, the Nifty PSU Bank index sunk the most, down nearly 3 per cent. This was followd by losses in the Nifty Realty, Pharma, and Media indices, down over 1 per cent each

9:25 AM

BSE MidCap Heatmap :: Index drops 0.5% dragged by Polycab, BEL, Persistent Systems

9:23 AM

Broader market :: Smallcaps fight sell-off, midcaps weak

9:22 AM

Sectoral trends :: All indices open in sea of red; IT, Metal, Pharma worst hit

9:21 AM

Sensex Heatmap :: L&T, RIL, ICICI Bank help index trim losses

9:19 AM

Opening Bell :: Nifty50 gives up 18,350

9:18 AM

Opening Bell :: Sensex falls 300 pts in early deals

9:13 AM

COMMENT :: 'India is likely to be less impacted by the bearish trend '

There is a near term risk aversion in global equity markets.

Following the 50 bp rate hike and hawkish message from the Fed on 14th the ECB and BoE also hiked rates on 15th by 50 bp each and delivered, perhaps, a more hawkish message than the Fed.

Other central banks like the Swiss National Bank and Bank of Thailand also have raised rates. This synchronised rate hiking cycle has impacted sentiments leading to sharp cuts of more than 3% in Nasdaq, CAC and DAX.

India is likely to be less impacted by the bearish trend but investors can wait for the global markets to stabilise before making fresh commitments in this overvalued market.

Moving some money to fixed income makes sense since fixed income returns are turning attractive.

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

9:10 AM

Pre-Open session :: 50-pack index eases nearly 100 pts

9:09 AM

Pre-Open session :: Sensex slips over 250 pts

9:08 AM

Key levels to watch out on Nifty, Bank Nifty

Source: Prabhudas Lilladher

9:05 AM

Commodity Corner :: Muted start for metals, crude

9:03 AM

CURRENCY ALERT :: Rupee opens around 9 paise weaker

8:59 AM

BS Special :: As Infosys turns 40, what may be its future challenges?

8:56 AM

MCX can rally to Rs 1,725, CSB Bank Rs 287, says Mehul Kothari; check why

BUY CSB Bank

 

Buy Range: Rs 264 - Rs 266

 

After registering the top of Rs 374 in July 2021, the said counter has been making lower highs & lower lows structure which resulted in a 52 percent cut in stock price.

 

Immediately after June 2022, CSB changed its price structure completely by making higher highs and higher lows and was able to make a solid base near Rs 220. READ MORE

8:54 AM

Sector View :: Pharma

>> Pharma Sector has underperformed Nifty index in last 12 months (Nifty Pharma -3.1% vs Nifty +0.3%).

>> While we do believe that the pharmaceutical sector has underperformed broader index over the last year, valuations which were on higher side have also settled to reasonable levels, however we still hold the view that pharmaceutical sector is still very much bottoms up and is definitely not a one size fit all story at this juncture.

>> The year FY23 has hitherto been challenging for the pharma sector, however,strong India business, and gradual abatement in pricing scenario in the US, we see signs of earnings recovery in FY24E which will be a function of beneficial base effect.

Source: Dolat Capital