Sensex falls 732 pts from day's high, ends 100 pts down; Rupee at new low

CLOSING BELL: n the broader markets. the BSE MidCap index fell 0.4 per cent, but the BSE SmallCap inde rose by 0.2 per cent

3:22 PM

ALERT :: Rupee hits record low of 79.22 against US Dollar

3:12 PM

Windfall tax to generate nearly Rs 94,800 cr for govt, says Moody's

"The tax increase will reduce the profits of Indian crude producers and oil exporters like Reliance Industries Limited (RIL) and Oil and Natural Gas Corporation Ltd (ONGC)," Moody's said in its comments on the new taxes. READ MORE

3:01 PM

Major economies headed into recession in the next 12 months, says Nomura

>> Many of the world’s leading economies will fall into a recession within the next 12 months as central banks move to aggressively tighten monetary policy to fight surging inflation, according to the chief economist at brokerage firm Nomura holdings. 

>> In addition to the US, Nomura expects recessions in the euro area, the U.K., Japan, South Korea, Australia and Canada next year, the brokerage firm said in a research note.

>> When you have many economies weakening, you can’t rely on exports for growth. That's another reason why we think this recession risk is very real and will likely happen.

2:52 PM

Global markets :: Euro slides to 20-year low against the dollar

>> The euro fell to its lowest level in two decades on Tuesday, sliding over 1% to hit $1.0305.

 

>> Investors have scaled back expectations that the European Central Bank will hike interest rates to rein in record-high inflation, as the risk of an economic recession in the euro zone grows as a result of the war in Ukraine.

Source: CNBC

2:43 PM

Rupee touches a new low of 79.14 against US dollar

Data late on Monday showed India's June trade deficit widened to a record $25.63 billion, pushed by a rise in crude oil and coal imports, from $9.61 billion a year ago. READ MORE

2:34 PM

Britannia Industries' shareholders reject Rs 5,000 cr investment proposal

In the AGM, 71.13 per cent of public institutions and 70.86 per cent non-Public institutions voted against the proposal for making investments, loans, Special guarantees and security of up to Rs 5,000 crore. However, it received 100 per cent support from the promoter and promoter group. READ MORE

2:24 PM

CRYPTO VIEW: Bullish pattern formation likely for Bitcoin

Bitcoin gained over 4% yesterday, to edge above the $20,000 level.

The trading volumes were significantly lower in the last 3 to 4 days, but the majority were buyers.

Although the market sentiment continued to remain in the “extreme fear” zone, the index is at its highest in almost two months, an indication that investors are slowly warming up towards the crypto markets.

The daily trend for BTC continues to move within a descending channel pattern.

An immediate resistance is expected at $32,300 and the next key support is expected at $14,000. The daily RSI has recovered back to nearly 36, emerging out of the oversold zone.

Going by the market sentiment and the technical indicators, we could potentially see formation of bullish pattern. 

 

Source: WazirX Trade Desk

2:19 PM

ALERT :: Indices retreat as US Futures sink up to 0.5%

2:14 PM

BSE 500:: Stocks recovering smartly from the lows of the day

Elgi Equipments has rallied 9.5 per cent from its low of the day so far. Similarly, Asahi India Glas, Astrazenecea Pharma, Prestige Estates and NLC India were some of the other significant movers from the lows of the day on Tuesday.

2:08 PM

This Porinju Veliyath-owned stock has zoomed over 130% from May lows

Shares of Orient Bell (OBL) hit a fresh all-time high of Rs 779 after they rallied 13 per cent on the BSE in Tuesday's intra-day trade on strong business look. The shares surpassed their previous high of Rs 733, recorded on June 30, 2022. READ MORE

2:02 PM

S&P BSE Sensex sheds more than 500 points from the day's high

1:56 PM

Sensex 30 Heatmap:: ITC, auto shares weakne; financials off day's high too

1:48 PM

BSE 500:: Stocks falling significantly from the highs of the day

Chemplast Sanmar has shed nearly 6 per cent from its high of the day so far. Similarly, MRPL, Oil India, Mahindra Lifespace and EID Parrry were some of the other prominent stocks to lose notable ground from the highs of the day on Tuesday.

1:40 PM

PSUs face further investment apathy; privatisation may struggle: Analysts

The bulk of the earnings reduction over the past two months for the Nifty-50 index, according to KIE, has come from the government's decision to levy new taxes. READ MORE

1:33 PM

BSE 500:: Volume Shockers

IOB has witnessed unusually high volume of around 11.34 lakh shares so far on the BSE as against its five-day average volume of around 1.68 lakh shares. Similarly, Elgi Equipments, Bombay Burmah, Finolex Cables, Gujarat Fluorochemicals and Indian Hotels have also witnessed a spike in volume in trades on Tuesday.