Sensex ends 326 pts lower ahead of GDP data; RIL, Tata Steel slip 2%

CLOSING BELL: The Sensex and Nifty extended their losing streak into the eighth straight day on Tuesday; BSE benchmark has now shed 2,358 points, and NSE index 732 points in this period.

9:18 AM

Opening Bell :: Nifty stays below 17,400

9:17 AM

Opening Bell :: Sensex opens flat with muted downtick

9:09 AM

Pre-Open Session :: Nifty below 17,400

9:08 AM

Pre-Open Session :: Sensex rises over 50 pts

9:03 AM

Rupee Opening :: Rupee starts at 82.70/$ vs Monday's close of 82.84/$

8:58 AM

$19 bn derivative bond trade in India at risk from Modi's new tax

The transactions enabled insurers to lock in future yields without enlarging balance sheets, and by some estimates account for $19 billion worth of sovereign bonds purchased by banks. Should that demand drop, pressure may mount on the Reserve Bank of India to support the market as Prime Minister Narendra Modi increases debt sales. READ MORE

8:56 AM

Watch :: Will strong order book build steam for road-infra players?

8:53 AM

Core inflation must ease towards 4%, says RBI MPC's Shashanka Bhide

“Core inflation is a significant component of headline inflation. Unless this is brought close to the overall target rate of 4%, it would be hard to achieve and maintain the target,” Shashanka Bhide, an external member in the Monetary Policy Committee of the Reserve Bank of India said in an interview. READ MORE

8:49 AM

Vedanta-Hindustan Zinc deal worry may hit divestment plan for FY23

The Centre’s plan to sell its residual stake in Hindustan Zinc (HZL) could face a stumbling block because of its opposition to the company’s proposed $2.98-billion acquisition of zinc assets from Vedanta. READ MORE

8:46 AM

Paytm shareholding changes: Ant exceeds 25% mark, MFs increase their stake

The company in a regulatory filing updated its shareholding pattern, which shows Ant Financial’s holding in the company go up slightly from 24.86 per cent as of December 31, 2022 to 25.47 per cent now. READ MORE

8:42 AM

JPMorgan Chase & Co investment arm purges its ESG funds of Adani stocks

Spokespeople for JPMorgan and BlackRock declined to comment. A spokesperson for DWS said that when it comes to its MSCI-tracking ETFs, “no proprietary DWS ESG assessment is used,” in an emailed response to questions. MSCI said by email that the results of a regular review of its ESG and climate indexes “will be implemented” at the end of this month. The firm hasn’t adjusted any Adani ESG ratings. READ MORE

8:39 AM

Watch :: Can high leverage spell trouble for Vedanta?

8:35 AM

Stocks to watch: SpiceJet, Bharti Airtel, SAIL, Wipro

Bharti Airtel: Chairman Sunil Bharti Mittal said since return on capital in the telecom business is quite low, a tariff hike is soon slated to be out by mid of this year. Inspite of strong balance sheets, on the back of healthy capital infusion, the return on capital of this industry is very low, he said. 
 

SAIL: The company's arm - Bhilai Steel Plant bagged orders from the UAE to supply large volumes of special quality plates. The plant has received an export order of 10,000 tonnes, with plates complying with European and American specifications. READ MORE

8:32 AM

Ravi Nathani is bullish on Nifty Private Bank, PSU Bank indices

Nifty Private Bank

Last close: 20,558 (Bullish)

 

As the inex trades at 20,558, it experienced a minor dip upon opening, but managed to recover throughout the day, and close near day's high levels. This pattern, therefore, suggests that the index is poised to outperform in the near term. READ MORE

8:29 AM

Trading Strategy :: DLF, Hindustan Aeronautics can bounce back

BUY DLF

Target: Rs 370

 

Since July 2022; DLF witnessed buying interest whenever it corrected near Rs 340 mark. At this juncture too it is trading near the multiple support zone of Rs 340. READ MORE