Sensex soars 1,047 pts, Nifty tops 17,250; HDFC jumps 5.5%, Paytm drops 6%

CLOSING BELL: JSW Steel, Titan Company, SBI Life, RIL, Kotak Bank, Tata Consumer Products, Tata Steel, Nestle India, and Eicher Motors were the other notable gainers

11:06 AM

Banks, corporate treasuries dial in for LIC IPO, signal all-round interest

The country's largest public offer has seen strong interest from investors who queued up to be part of the roadshows organised by the Centre's battery of merchant bankers. Read here

 

10:52 AM

Moody's lowers India growth estimate for CY22 to 9.1% on Ukraine conflict

Rating agency Moody's on Thursday scaled down India's economic growth forecast by 40 basis points to 9.1 per cent in CY2022 due to adverse effects of the Russia-Ukraine conflict on the global economy. Read more

10:43 AM

Nxtdigital surges 17% as board approves merger of Hinduja Leyland Finance

Shares of Nxtdigital (NDL) surged 17 per cent to Rs 486.20 on the BSE in Thursday’s intra-day trade after its board accorded an in-principle approval for merger of Hinduja Leyland Finance (HLFL), into the company. Read here

Illustration by Binay Sinha

10:32 AM

MARKET CHECK: Sensex surges over 1,000 points, Nifty above 17,250

 

10:25 AM

Indian Oil, ONGC, Cipla sole losers on Nifty50

 

10:16 AM

Rupee opens 27 paise lower, below 76-mark

source: bloomberg

10:09 AM

Banking stocks in high demand; Kotak Bank surges over 3%

10:00 AM

Trent surges 8%, hits record high on hopes of strong earnings

Shares of Trent hit an all-time high of Rs 1,262.80, on rallying 8 per cent on the BSE in Thursday’s intra-day trade amid expectations of strong earnings backed by robust recovery in revenue. The stock of Tata Group company surpassed its previous high of Rs 1,211.95 touched on January 19, 2022. READ MORE HERE

9:54 AM

Paytm declines after Macquarie slashes target price to Rs 450

9:47 AM

JSW Energy completes rejig of thermal and renewable businesses; Stock spurts over 1%

9:42 AM

Adani Power surges post acquisition of Essar Power M P

9:39 AM

SAIL gains after approving interim dividend of Rs 2.5 per share

9:37 AM

M&M abuzz after it plans to increase stake in Carnot Tech

9:31 AM

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

The Fed raising rates by 25 bp was on lines of market expectations. Fed's projections of another six hikes this year is hawkish and, therefore, the smart rally in markets with S&P 500 and Nasdaq posting 2.24% and 3.17% upmoves respectively was a bit unexpected. The explanation is that the market was oversold and the consequent short covering pushed indices higher. The market drew confidence from the Fed chief Powel's statement that "the American economy is very strong and well positioned to handle tighter monetary policy." Short-covering in India, too, will lift markets today. FPIs turning buyers after a long time and softness in crude will support the market. There is upward potential in financials, particularly in high quality private banks in which FPIs were sustained sellers.

9:26 AM

Opening bell: Broader markets shine; India Vix cools off below 6%