Investors book profit day ahead of RBI policy outcome; Sensex falls 568 pts

CLOSING BELL: The NSE Nifty50, held the crucial 16,400-mark to shut shop at 16,416, down 153 points

3:32 PM

Closing Bell: Benchmark indices end in red for third day; Sensex sheds 568 pts

 

3:27 PM

Global markets: US stock futures off lows

source: finance.yahoo.com

3:18 PM

Expert call on LIC: State insurer good bet for long-term investors

The insurance giant, LIC Ltd. is currently trading below its IPO price. The issue was priced at a price to the embedded value of 1.1x, which is a discount compared to its domestic as well as global peers.

This valuation discounts concerns with the company like losing market share to private players, lower profitability & revenue growth compared to private players, lower VNB margins and short term persistency ratios.

However, we believe India's highly underserved life insurance market is still in its infancy and is well-positioned to capitalize on the enormous growth potential.

LIC has a number of competitive advantages, including a strong brand value, a massive network of agents, and an enviable distribution network. So, investors with a long-term view can buy this stock at CMP and follow a buy on dip strategy

Views by Santosh Meena, Head of Research, Swastika Investmart on LIC.

3:08 PM

Global stock markets mixed as Wall Street bond sell-off; yen at 2-yr low

Global stock markets were mixed Tuesday after a bond sell-off on Wall Street fuelled anxiety about a possible US economic slowdown and Australia raised interest rates. Read more

3:01 PM

Insurance stocks trade tepid in a weak market

2:57 PM

Brent crude cools off to $118 a barrel

2:48 PM

Muted trade for European markets

2:41 PM

Fundamentals for oil weaken, witness 1st surplus since June 2020: Goldman

Modest declines in the Russian exports, record large sales by Strategic Petroleum Reserve and severe Chinese lockdowns brought the oil market to its first surplus since June 2020, said Goldman Sachs. READ HERE

2:36 PM

Apar Industries rallies 36% in 8 days on strong Q4 results

In the past eight trading days, the stock of the electric equipment company has soared 36 per cent after it reported healthy earnings for the quarter ended March 2022 (Q4FY22). READ HERE

2:28 PM

Nifty Realty slips 2%; IB Realty at bottom of the heap

2:19 PM

Energy basket up in a weak market; ONGC gains over 5%

2:09 PM

Investors lose Rs 1.2 trn as LIC shares tumble 20% below issue price

Those investors who had put their money in LIC IPO had experienced a heavy depreciation in their portfolio, as the shares of the insurance major have been tumbling ever since its exchange listing. READ MORE

2:01 PM

BSE 500:: Stocks recovering smartly from the lows of the day

General Insurance has surged nearly 7 per cent from its low of the day so far. Similarly, Adani Cyient and Mastek have logged notable gains from their respective lows of the day.

1:54 PM

Retail investors acting like shock absorbers in stock market: Sitharaman

Amid continuing volatility in the stock market, Finance Minister Nirmala Sitharaman on Tuesday said retail investors seem to act as shock absorbers even when foreign portfolio investors went away. Speaking at an event of the corporate affairs ministry as part of the Azadi ka Amrit Mahotsav, Sitharaman said that during the pandemic, there has been a very significant increase in retail investor numbers. READ MORE

1:47 PM

ICICI Lombard slips 5%; stock hits lowest level since May 2020

Shares of ICICI Lombard General Insurance Company hit a two-year low of Rs 1,144 and slipped 5 per cent on the BSE in Tuesday’s intra-day trade, on concerns of further waves of COVID-led claims. The stock of general insurance company traded at its lowest level since May 2020 and underperformed the market due to disappointing earnings. READ MORE