Sensex snaps 4-day winning run, slips 150 pts; RIL gains 2%, Oil India 4.5%

CLOSING BELL: The Nifty IT, Bank, and FMCG indices dropped over 1 per cent each

11:19 AM

Cement stocks gain steam; India Cements up 3%

11:09 AM

Private bank shares under pressure; AU SFB, Bandhan, RBL Bank tank up to 9%

As of 10:09 am, the S&P BSE Private Bank and Nifty Private Bank index were down 1 per cent each, as compared to 0.6 per cent decline on the benchmarks, S&P BSE Sensex and Nifty50 index. Read more

10:55 AM

CRYPTO VIEW: Bitcoin closes below 200-week moving avg for second straight week

Bitcoin remained fairly flat throughout the last day, consolidating between $20K and $21K.

On the weekly timeframe, the BTC trend has formed a descending channel pattern.

The weekly RSI had hit an all time low a couple of weeks back and hasn't shown any significant improvement since then.

Another crucial fact is that the BTC price has closed below the 200-week Moving Average(MA) for the second week in a row which is unheard of. 

The 200-week MA is currently at around $22,500 and if BTC breaks this level, then the key resistance will be at $32,300 else the key support would be at $14,000.

 

Ethereum against Bitcoin dropped by nearly 3% yesterday as the Bitcoin Dominance index gained marginally over the last couple of days.

The daily trend for ETH-BTC is traversing within an ascending triangle pattern. The daily RSI dropped to 40 edging closer to the oversold zone. The next  key support for ETH-BTC is expected at 0.046 level and next resistance is expected at 0.076

Source: WazirX Trade Desk

10:46 AM

Big agrochem firms may use drones for chemical spraying this kharif season

Industry sources estimate that drones could be used for spraying pesticides and other plant chemicals in around 30,000 acres this kharif season largely as pilot projects. Read more

10:29 AM

June qtr could see some more earnings downgrades: Anoop Bhaskar, IDFC MF

We have raised cash levels across several of our funds, both for funding redemption pressure as well as pouncing on emerging opportunities, Bhaskar said. READ MORE

10:21 AM

Route Mobile slips 7% on profit booking after board approves share buyback

The board approved the buyback of equity shares having face value of Rs 10 at a price not exceeding Rs 1,700 per equity share and for an aggregate amount not exceeding Rs 120 crore. READ HERE

10:15 AM

Gold prices buoyed by lower US bond yields, possible fed rate hike

Spot gold was up 0.1% at $1,821.57 per ounce by 0254 GMT. U.S. gold futures firmed 0.1% at $1,823.10. READ MORE

10:07 AM

Market view: Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

>> The sharp pullback witnessed in the US last Friday has lost steam and the markets have again turned weak. The decline in commodity prices last week has not sustained and Brent crude is back to above $117. Even though there is no consensus on whether the US economy will slip into recession or not, there are clear signs of the economy slowing down. But the labour market continues to be strong in the US and unemployment is low at 3.6%. In this context of conflicting signals, markets are likely to remain choppy.

>> Investors should understand the fact that big money is made not by investing in a bull market but by systematically investing through a bear market and waiting patiently for the inevitable bull market. So, invest systematically in high-quality stocks.

10:01 AM

Future Group stocks edge higher in trade

9:56 AM

Bias for MCX Crude Oil seems positive, Natural Gas may remain volatile

The key support levels for the MCX Crude Oil and Natural Gas futures for the remainder of the week are Rs 8,545 and Rs 502.30, respectively. READ MORE

 

9:44 AM

Route Mobile sinks 6% after board clears Rs 120 crore buyback

9:37 AM

Biocon hits 52-week low as CBI demands custody of accused in bribery case

9:34 AM

RIL slips after Mukesh Ambani steps down from Jio's board

9:30 AM

IndusInd Bank, HUL, Hindalco top Nifty50 losers

9:29 AM

SBI Life, Sun Pharma, Dr Reddy's top Nifty50 leaders