Fag-end buying lifts Sensex 214 pts; Nifty nears 17,400; IT stocks dazzle

CLOSING BELL: All sectors, except IT and Financial Services, witnessed selling pressure today, led by auto, pharma, and public sector banks

10:40 AM

Market Check:: Sensex near day's low, down 200 points

10:16 AM

Jubilant Pharmova slips 3% after USFDA issued 6 observations for Roorkee plant

10:07 AM

Profit-booking in Thermax after strong Q1; stock slips 2%

10:00 AM

Adani Transmission hits 52-week high ahead of Q1 results

9:57 AM

MARKET COMMENT :: 'Tensions arising from Nancy Pelosis's visit to Taiwan has emerged as an irritant'

FIIs turning buyers, short covering by the bears and active retail participation have led to 14 % recovery in Nifty from the June lows. This has pushed the market to overbought territory but continuation of FII buying may impart resilience to the market.

However, investors should exercise caution since global growth slowdown is serious and this has the potential to impact exports from emerging markets like India. 

Additionally, the new tensions arising from Nancy Pelosis's visit to Taiwan and China's sharp reaction to that has emerged as an irritant. So, investors have to be cautious.

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After the deserved run up in financials, segments like automobiles, particularly the PV and CV space, capital goods and segments in FMCG are now attracting informed buying due to their improving prospects.

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

 

9:56 AM

eClerx Services surges 14% as board to consider bonus issue proposal

The company's board will meet on August 9, 2022 to consider the proposal for issuance of bonus equity shares and June quarter results. READ MORE

9:49 AM

MARKET CHECK: Sensex erases opening gains; slips 150 pts

 

9:46 AM

Lemon Tree sinks 3.5% despite turnaround in Q1 bottom line

 The hotel chain operator has recorded a consolidated profit at Rs 13.57 crore in Q1FY23, as against loss of Rs 59.8 crore in year-ago period. Revenue rose 356 percent YoY to Rs 192 crore for the quarter.

 

9:42 AM

Subex hits 20% upper circuit after co inks pact with Reliance Jio

Reliance Jio Platforms announced a partnership with Subex for its AI Orchestration Platform, HyperSense, which can enable telcos to deliver on the promise of AI across the data value chain.

9:40 AM

MCX Crude Oil may soon test 200-DMA; Bias for Natural Gas turns neutral

The MCX Crude Oil futures could dip briefly below the 200-DMA at Rs 7,275 indicates the weekly momentum oscillators. Bias for Natural Gas futures no longer negative. Read more

9:39 AM

Jubilant Pharmova unit gets 6 US FDA observations; stock falls 2%

 

9:38 AM

ITC slips 1% after announcing exit from lifestyle retail business

 

9:36 AM

Voltas sheds 3%; co's Q1 PAT declines 10.5% to Rs 109.6 crore

 

9:33 AM

ALERT: Promoter Ajay Singh mulls partial stake sale in SpiceJet

Source: CNBC-TV18

 

9:31 AM

Zomato weakens as 8.4% equity worth Rs 3,464 cr changes hands