Sensex sheds 498 pts, Nifty below 16,500; Infy slips 3.5%, Axis Bank 3%

CLOSING BELL: Equity markets settled near the low point of the day as investors chose to stay on the sidelines ahead of the US Federal Reserve's monetary policy outcome on Wednesday

1:19 PM

US SEC files charges against several Indian-Americans for insider trading

The US SEC has filed insider trading charges against several Indian-Americans in connection with three separate schemes that together yielded more than $6.8 million in illicit gains. READ MORE

1:12 PM

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

Dilip Buildcon has gained 6 per cent from its low of the day so far. Similarly, Delta Corp, Vinati Organics and Sapphite Foods were some of the other significant movers from the lows of the day.

1:04 PM

Tata Motors Q1 loss may widen to Rs 1,957 cr; revenue may dip QoQ: Analysts

Passenger vehicle giant Tata Motors’ consolidated net loss is likely to widen to Rs 1,957 crores in the April-June quarter (Q1FY23) from Rs 1,033 crores in Q4FY22, according to an average of five estimates compiled by Business Standard. READ MORE

12:58 PM

Rupee weakens slightly, bonds yield little changed; Fed meet in focus

The Indian rupee weakened slightly against the dollar on Tuesday, while bond yields were little changed, as investors awaited the outcome of the US Federal Reserve's policy meeting. READ MORE

12:51 PM

S&P BSE Sensex 30 Heatmap:: Bajaj twins shine; Axis Bank, HUL, Infosys whine

12:45 PM

Tata Steel, Vedanta can surge 14%, provided they defy this chart formation

Nifty Metal

 

Outlook: Set to rally up to 9%

 

The Nifty Metal index is securely holding fort above the 5,000-mark. The same 50-day moving average (DMA) hurdle coincides with the horizontal resistance providing support now. And if the index exhibits sustainability here, then momentum would likely defy the “Death Cross” formed on the daily chart. READ MORE

Industrial metal

12:32 PM

Axis Bank Q1 review: Why did shares fall 3.5% despite 91% surge in profit?

The Mumbai-based lender best Street estimates as it reported net profit of Rs 4,125.26 crore, up 91 per cent year-on-year. Net interest income (NII) growth was 21 per cent on year, at Rs 9,384 crore, and in-line with estimate. The bank calibrated its growth to improve net interest margin (NIMs) by 11 basis points (bps) sequentially to 3.6 per cent. READ MORE

12:21 PM

Despite headwinds, Jefferies recommends buying Zomato stock. Here's why

Shares of Zomato have tanked nearly 19 per cent in the last two trading sessions after the one-year freeze on all its pre-IPO (initial public offering) shareholding ended. Despite the concerns surrounding the profitability of the company, the acquisition of Blinkit which analysts feel will only lengthen its road to profitability and the sharp fall in its share price since listing, analysts at Jefferies suggest long-term investors 'buy' the stock and maintain a price target of Rs 100. READ MORE

12:13 PM

Asian Markets Update:: A mixed outing

Source: Yahoo Finance

12:01 PM

BSE 500:: Top losers so far

Tanla Platforms hit the 20 per cent lower circuit and was the top loser among the BSE 500 stocks so far. It was followed by Zomato, Vedanta, Sonata Software and Mphasis.

11:52 AM

MPC likely to raise repo rate significantly in upcoming meetings: S&P

Global rating agency S&P on Tuesday said it expects “significant” increases in the policy rates by the Reserve Bank of India’s (RBI) monetary policy committee (MPC) at its upcoming meetings. The assessment comes a week ahead of the MPC’s three-day meeting. READ MORE

11:42 AM

BSE 500:: Top Gainers so far

EIH has zoomed 8.5 per cent so far in trades on Tuesday and was the top gainer among the BSE 500 stocks. Vinati Organics, HFCL, Bajaj Finserv and Delta Corp were few of the other significant gainers.

11:32 AM

Adani Group to invest $70 bn in green energy, infra: Gautam Adani

Adani Group leads the race to turn India from being dependent on imported oil and gas to one day becoming a net exporter of clean energy. READ MORE

11:22 AM

Monsoon woes: Is India staring at higher food price-led inflation?

India may be staring at higher food price-led inflation if the monsoon activity does not pick up pace and the spatial distribution of the rains does not improve soon, suggests a report from Nomura. READ MORE

11:14 AM

IEX drops 2% despite resilient June quarter results