Sensex ends volatile session 185 pts down; IT stocks decline, PSBs shine

CLOSING BELL: The Nifty50 index shut shop at 16,523, down 62 points or 0.37 per cent

12:58 PM

BSE 500:: Volume Shockers

Bata India has witnessed unusally high volume of 3.66 million shares so far on the BSE on the back of the block deals. Meanwhile, General Insurance, TCNS Clothing, Happiest Minds and Bharat Dynamics too have witnessed unusually high volume in trades so far on Wednesday.

12:51 PM

Nifty outlook:: 16,580 to resist upside attempts

Though the Nifty pulled back from 16,540 vicinity on anticipated lines, the ascent fizzled off without making much headway past Monday's peak, despite multiple attempts. The hurried long liquidation thereof, in the closing hour signifies why a revisit of 16,400 became a point of discussion yesterday. Favoured view for the day expects 16,580 to resist upside attempts, followed by a consolidation. While a resumption of the 17,200 without breaching 16,400 during this down move is the best case scenario, we are prepared not to switch sides until above 16,100, having abandoned the rectangular breakout in favour of a triangular one - Anand James, Chief Market Strategist at Geojit Financial Services.

12:46 PM

Global Check:: US futures up marginally

12:39 PM

Centrum View on Cement:: Margins to remain under pressure in 1HFY23

The demand is slowing down in May and will witness monsoon soon.  As a result, cement companies are expected to witness lower volume QoQ in Q1FY23. Coal prices are expected to be at elevated level and will increase further in Q1FY23. The cement companies increased prices during April 2022 but is not sufficient to cover increase in coal/pet coke prices.  The inability to pass-on cost fully to customers remains the primary concern. We expect cement margins to decrease on a QoQ basis due to lower volume, higher coal prices which should more than offset increase in cement prices.

 

Our preferred picks: ACC, Ambuja, Ultratech - Centrum Broking

12:34 PM

S&P BSE Sensex continues to gyrate in a narrow range

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12:24 PM

BSE Sensex 30 Heatmap:: Nestle, Sun Pharma top losers

12:19 PM

IndiGo, SpiceJet face turbulence amid rising crude, competition: Analysts

Analysts expect some consolidation in the industry going forward, with the impact of increased competition playing out over two-three years. READ MORE

12:13 PM

NEWS ALERT :: HDFC increases Retail Prime Lending Rate (RPLR) by 5 bps

12:04 PM

Asian Markets Update:: A mixed outing

Source: Yahoo Finance

11:56 AM

BSE 500:: Top losers so far

Indiabulls Realesate has slipped 6 per cent in trades so far. PTC India, Adani Power, Brightcom Group, Adani Transmission and Hikal were the other prominent losers among the BSE 500 stocks so far on Wednesday.

11:48 AM

Top Indian firms show resilience post pandemic, Tata Group at top spot

Top Indian firms have shown resilience in post pandemic business conditions and TATA Group, with its brand value up 12 per cent to $24 billion, continues to be the most valuable brand, a report showed. READ MORE

11:41 AM

BSE 500:: Top gainers so far

Happiest Minds soared 10.5 per cent in trades so far and was the top gainer among the BSE 500 stocks. RHI Magnesita, Dishman Carbogen, Bharat Dynamics, General Insurance and Dilip Buildcon were the other major gainers, up over 6 per cent each.

11:27 AM

Specialty business set to spur growth for Sun Pharma in next 3 yrs: Experts

Global specialty drug sales for Sun Pharma have grown by 39% YoY in FY22 to $674 million. Read here

11:13 AM

Happiest Minds Tech soars over 11%; up for 4th session straight

 

11:00 AM

Oil India surges 15% in three days on strong March quarter results

Analysts remain bullish on prospects of the company due to increase in crude price realisation and improvement in domestic gas price realisation. READ HERE