FMCG, select banks help Sensex, Nifty snap 5-day losing streak; Metals dip

CLOSING BELL: Nestle, Titan, Hindustan Unilever and Asian Paints were the major gainers among the Sensex-30 pack; while Tata Steel, IndusInd Bank and Bharti Airtel were the top losers.

12:50 PM

No 'negative impact' after promoter shareholding freeze: Patanjali Foods

Stock exchanges freezing promoter shareholding in Patanjali Foods has not affected the company’s functioning, said the firm in a press statement on Thursday.

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12:41 PM

Wipro hits 52-week low amid revenue growth worries; down 38% in one year

The growth could be a challenge in Q1FY24, too, not just because of the cautious customer behavior but also due to the added issue of productivity concessions kicking in, says Nirmal Bang in a note. READ

12:30 PM

Credit Suisse more relevant to Indian banking sector than SVB: Jefferies

The fate of European lender Credit Suisse Group AG is of greater importance to the Indian banking sector than the collapse of Silicon Valley Bank, according to Jefferies India. READ

12:19 PM

Nifty 50 index heads for technical correction amid global turmoil

Rising interest rates, coupled with this year's rout in the Adani conglomerate's stocks, have also weighed on the local market. READ

12:08 PM

ALERT: Man Industries bags export order worth around Rs 1,300 crore

11:59 AM

ALERT :: Federal Reserve's ELP may inject up to $2 trn funds in the US banking system, says JPMorgan

11:47 AM

ICICI Pru soars 9% after appointment of Anup Bagchi as MD & CEO of company

Shares of ICICI Prudential Life Insurance Company (ICICI Pru) rallied 9 per cent to Rs 418.80 in Thursday’s intra-day trade, after the appointment of Anup Bagchi as Managing Director & Chief Executive Officer (MD & CEO) of the company. READ

11:36 AM

Bank stocks can slide more; stay away for now: Analysts

Analysts expect the underperformance in bank stocks to continue ahead as the current fears around the banking sector globally are likely to persist for some time. READ

11:25 AM

OMCs in focus as crude oil hits 1-year low; BPCL, HPCL surge up to 5%

Shares of state-owned oil marketing companies (OMCs) were in focus on Thursday, rallying up to 5 per cent on the BSE in an otherwise volatile market after crude oil prices fell over 6 per cent overnight. READ

11:19 AM

Samvardhana Motherson tank after huge block deal

As per media sources, Sumitomo Wiring Systems Ltd (SWS) was to sell 230 million shares in the company i.e. around 3.4 per cent stake via block deal mechanism on stock exchanges today. The floor price for the deal was to be around Rs 69.90 per share (i.e. a discount of 9 per cent to last closing price) with total transaction value pegged at Rs 1,600 crore, the report suggested. READ MORE

11:10 AM

China's property market shows early signs of recovery after slump

ChartThe improvement suggests government measures to rescue the real estate sector, which along with the construction industry accounted for 13% of the world’s second-largest economy last year, may be taking effect. Regulators have ramped up financial support for developers and lowered mortgage rates, while buying curbs have been eased in many big cities including Shanghai. READ MORE

11:00 AM

New Jio family plan could delay postpaid tariff hikes: Kotak Inst Equities

Reliance Jio’s drive to gain market share with its new family plans could intensify competition in the telecom sector, forcing peers to tweak their offerings and delay tariff hikes in the postpaid segment. READ MORE

10:51 AM

As PMLA tightens grip on crypto, here's how other nations regulate VDAs

Crypto entities will be obligated to record transaction and client data, monitor compliance, and report suspicious activities while empowering the Enforcement Directorate (ED) to investigate suspected crypto-related financial wrongdoings. Moreover, last year, Finance Minister Nirmala Sitharaman introduced a flat 30 per cent tax on profits from transferring crypto assets and NFTs. READ MORE

10:40 AM

Reliance market-cap falls below Rs 15 trillion; stock down 9% in six days

Earlier, on December 6, 2021, RIL market-cap was at Rs 14.99 trillion on closing level basis. The company’s market-cap has been declined by Rs 4.12 trillion from its all-time high level of Rs 19.07 trillion registered on April 28, 2022, the CapitalinePlus data shows. READ MORE

10:28 AM

IPO filings halve in FY23 as outlook for new share sales worsens

The filing of offer documents with the capital markets regulator — Securities and Exchange Board of India — has more than halved this financial year (2022-23, or FY23) as the outlook for new share sales has worsened, following correction in the secondary market. READ MORE