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

1:37 PM

BSE 500:: Stocks falling significantly from the highs of the day

Zomato and Gujarat Gas have slipped nearly 6 per cent each from the respective highs of the day. JK Paper, Cera Santiaryware and Timken India were some of the other stocks to have also lost significant ground from their respective highs of the day so far.

1:29 PM

Global Check:: US futures in red, but off lows

Source: Investing.com

1:21 PM

BSE 500:: Volume Shockers

GlaxoSmithKline Pharma has logged extraordinary volume of around 70,600-odd shares on the BSE so far as against the five-day average volume of less than 2,000 shares. MRPL, Sonata Software, Bharat Forge, Grasim Industries and Gail India too have witnessed unusually high volume in trades so far on Tuesday. VIEW ALL

1:13 PM

Regulators should be well advanced to deal with digitisation: FM Sitharaman

Union Minister Nirmala Sitharaman said regulators and other entities should be well advanced and ahead of the curve in understanding digitisation to ensure that there is no misuse of technologies. READ MORE

1:05 PM

Asian Markets Update:: Key markets end near day's low

12:57 PM

Market Check:: S&P BSE Sensex languishes near lows of the day, down 600pts

12:46 PM

BSE 500:: Top losers so far

Gujarat Gas has 6 per cent in trades so far. Zomato, Brightcom Group, Titan and Greaves Cotton were few of the other significant losers among the BSE 500 stocks.

12:39 PM

HDFC's Parekh expects regulatory response to merger to be fair, judicious

Deepak Parekh, chairman of HDFC Ltd, the largest mortgage financier of the country said he expects the regulator’s view on the proposed merger with HDFC Bank to be fair and judicious while asking the stakeholders to be patient. READ MORE

12:30 PM

S&P BSE Sensex 30 Heatmap:: 27 down, just 3 up

12:23 PM

RBI policy preview :: Expect the RBI to press the pause button after December

Recently released GDP data showed a sliding y-o-y growth for private consumption expenditure, an indication that economic activity remains slow. On the other hand, the inflation surprise has brought to the fore the need for the RBI to tighten monetary policy. The government has also joined the RBI in an attempt to contain inflationary pressures in the economy. We see the RBI extending its 40bps repo hike of May with a 35bps increase in June, followed by 25bps each in August and September.

We thus factor in the RBI to press the pause button again after a 15bps insurance hike in the repo rate in December and analyze the implications of its rate hike cycle of 140 bps on growth before taking any further decision.

Views by: Indranil Pan - Chief Economist, YES BANK

12:17 PM

Nifty 500: 350 stocks below 200-DMA; ACC, Hero Moto, HUL new additions

Over 10 stocks slipped below their 200-DMA on Tuesday after the Nifty50 broke below its sentimentally important level of 16,400, while the Sensex lingered near 55,000-mark. READ MORE

12:17 PM

RBI policy preview :: Home loans may reach 8% by the end of FY23

We expect the repo increase to be between 40-50bps in upcoming MPC meeting with future increases leading to ~5.75% (where we were exactly 3 years ago) or upwards by the end of FY23. Last 40 bps increase in May caused homes loans to move in to 7% +/- range from ~6.5% earlier. And by the end of this financial year, home loan rates will likely touch ~8%. This is unlikely to derail the housing momentum but its will certainly soften it. Coupled with increasing prices, the growth may slow down a bit in FY23, after a record FY22.

Views by: Ashish Khandelia, Founder, Certus Capital

12:10 PM

BSE 500:: Top gainers so far

MRPL has zoomed over 18 per cent so far on the BSE. Oil India, ONGC, Mahindra CIE and Gail India were some of the other major gainers in trade on Tuesday.

12:03 PM

Expert View:: Santosh Meena, Head of Research of Swastika Investmart on PB Fintech

PB Fintech is India's leading online platform for insurance and lending products. The stock tanked as much as 10 percent on Tuesday after the announcement of a stake sale by the CEO of the company. The stock got listed in November 2021 and has seen almost a 70 per cent fall since its listing. The issue was exorbitantly priced at market to sales of 46.40x during its IPO, and it remains expensive despite the recent correction. The company operates in a very competitive space as there aren't any significant barriers to entry, plus the company is still a loss-making one despite the significant rise in revenues in FY22. Further, we believe that the current market conditions are punishing companies that are growing without showing profitability and are skeptical of companies that are relying on buzzwords like “underpenetrated in India” to show a rosy future picture.

11:50 AM

UltraTech Cement falls 10% in three days; loses Rs 17,157 crore-market cap

Analysts at ICICI Securities believe the next two quarters will remain challenging for the cement industry as it will battle both weak demand (owing to monsoon) & heightened costs. Read here