Sensex ends 152 pts lower ahead of US Fed decision; Nifty dips below 15,700

CLOSING BELL: NTPC, Infosys, HUL, Wipro, and RIL slipped over 1 per cent each

1:56 PM

Cement sector's capacity utilisation to drop to 65%: Fitch Ratings

Fitch Ratings said it believes a sustained GDP growth, the government's thrust on infrastructure and affordable housing, and a revival in corporate capex, will underpin growth of the cement sector. READ HERE

1:48 PM

Stock of this electric utilities company has zoomed over 1,100% in one year

The stock of KPR Green has zoomed 50% in six days after the company received commissioning certificate from Gujarat Energy Development Agency for capacity of 5.20 MWdc solar power project. READ MORE

1:40 PM

NEWS ALERT :: YES Bank to hold AGM on July 15, 2022

Agenda:

ORDINARY BUSINESS:

>> To consider and adopt the audited standalone financial statements of the Bank for the financial year ended March 31, 2022 and the Reports of the Board of Directors and the Auditors thereon.

SPECIAL BUSINESS:

>> To authorise capital raising through an issuance of debt instruments (up to Rs10,000 crore)

Source: BSE filing
 

1:38 PM

BSE 500:: Volume Shockers

Orient Electric has seen unusually high volume of around 1.26 lakh shares so far on the BSE as against the five-day average volume of around 3,400-odd shares. Similarly, KIOCL, HCL Technologies, Vardhman Textile and Alkem Labs were some of the other stocks to witness a sharp spike in volume on Wednesday.

1:30 PM

Global Check:: Dow, Nasdaq futures up around 0.5 per cent

Source: Investing.com

1:24 PM

NEWS ALERT :: UAE bans export & re-export of Indian wheat until September

>> The UAE Ministry of Economy has imposed a four-month ban on the export and re-export of wheat and wheat flour originating from India. This moratorium applies to any exports done from free zones in the UAE as well for four months from May 13.

 

>> The resolution applies to all wheat varieties (spelt), namely hard, ordinary, and soft wheat, and wheat flour (spelt flour).

Source: Gulf News

1:23 PM

US Fed Policy :: 'Not the only 75-bps hike that we will see'

Keeping in mind the level of inflation in the US, it is no brainer that the US Fed will hike the rate by 75-bps. But this is not the last 75bps hike we expect from the Fed. There is a very high probability that the Fed could hike by another 75-bps by July. Inflation is one primary concern that will keep the Fed on its toes; hence, we are likely to see a couple more hikes post-July as well.

Views by: Sunil Damania, Chief Investment Officer, MarketsMojo

1:19 PM

S&P BSE Sensex 30 Heatmap:: Financials rebound led by Bajaj twins

1:12 PM

Paytm, Zomato, Indiabulls Housing look oversold; can jump up to 25%

Among the beaten down mid- and small-cap stocks, Paytm and Zomato can provide some relief to investors, while stocks like Metropolis Healthcare and Latent View Analytics could see further pain. READ MORE

1:00 PM

Adani Enterprises wind power project caught in Lankan political crossfire

The controversy over the Adani investment in the neighbouring nation stems from domestic power politics in which a bureaucrat has become collateral damage. READ MORE

12:53 PM

LIC increases stake in Capri Global Capital, Hero MotoCorp and HUL

The acquisition of the incremental stake in Capri Global Capital Ltd happened at an average cost of Rs 624.61 and that for Hero MotoCorp Ltd happened at Rs 3,050.14. READ MORE

12:44 PM

Refrigerator import ban, volume recovery can help Whirlpool stay cool

Consumer durables major Whirlpool of India could be a key beneficiary of a move by the central government to restrict the import of refrigerators. While most refrigerators are made in the country, about 10 per cent of the overall volumes catering to the premium segment are still imported. READ MORE

12:29 PM

Asian Markets Update: Hang Seng, Shanghai gain; Nikkei, Kospi slip

Source: Yahoo Finance

12:20 PM

Aether Energy in talks with state govts to set up third manufacturing plant

Hero MotoCorp-backed electric two-wheeler maker Ather Energy is in talks with several state governments to set up a new manufacturing facility in the country, according to sources. READ MORE

12:20 PM

US Fed Policy :: Fed in a Tight Spot

Federal Reserve in its last meeting decided to raise rates and maintained its hawkish stance. Powell signalled that the Fed’s policymaking committee expected to implement 0.5% increases at its next two meetings, but was not “actively considering” a more aggressive 0.75% increase. 

In the recent times, treasuries have been under pressure as the Fed began its long drawn process of quantitative tightening, reducing its balance sheet by allowing bonds that it bought to mature without replacing them.

Be it the Fed meeting, US President’s and Treasury secretary testimony or be it the meeting between US President and fed Chairman everywhere the commentary has been that “Inflation is a concern and we need to do more to ease ongoing price rise"

Views by: Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.