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

11:41 AM

HDFC bank hikes MCLR by 35 bps across all tenures effective June 7

HDFC Bank has hiked its MCLR by 60 basis points since the Monetary Policy Committee (MPC) hiked the benchmark policy rate by 40 basis points in early May. Read here

11:30 AM

MARKET CHECK: Sensex extends slide, down over 750 pts

 

11:20 AM

Analysts take a bite of premium QSR stocks as restaurants hike prices

Value players, or those catering to price sensitive customers, may see growth and profitability concerns, they said. Read here

 

 

11:10 AM

UPDATE: Australia's central bank raises rates by 0.5%

11:01 AM

Gold up by Rs 10/10 gm, silver unchanged as investors weigh on rate hike

10 gram of 24-carat of gold is trading at Rs 52,210, while 22-carat gold is selling at Rs 47,860. Read more

10:52 AM

MRPL, Chennai Petroleum soar up to 19% on strong business outlook

The rise in the Singapore gross refining margin (GRM) to a record high of $25.2 a barrel bodes well for Indian refiners as they process raw crude into refined products. Read here

10:43 AM

TECH VIEW ON CRYPTO: Immediate support for Bitcoin at $26,800

Bitcoin price corrected by 6% and dropped below $30K after a minor rally that saw BTC edge over $31K on Monday.

The crypto markets had responded positively yesterday as the Dollar index(DXY) chart indicated a resistance.

However, this upsurge was short lived and the crypto markets soon turned red and Bitcoin dropped below 30K within just a few hours.

The daily trend for Bitcoin continues to traverse within a descending triangle pattern. An immediate support for BTC is expected at $26,800. 

 

Binance Coin(BNB) has been on a downtrend since the last couple of days as the US S.E.C. launched an investigation against Binance’s native token.

The commission is probing Binance Holdings Ltd. in connection with breaking the U.S. securities law.

The hourly chart for BNB has broken below the triangle pattern. An immediate support for Binance coin is expected at the $221 level.

Source: WazirX Trade Desk

10:33 AM

Adani Group, Apollo in talks to buy a majority stake in Metropolis

Adani and Apollo's deal with Metropolis could be at least worth $1 billion or Rs 7,765 crore, given the market captalisation of the diagnostic chain. Read more

10:32 AM

Hotel stocks edge lower in a weak market

10:24 AM

Global update: Australian central bank says rate hike to help reach inflation target

10:17 AM

HAL hits 52-week high after defence ministry cleared plan to buy indigenous arms

10:10 AM

Gold up by Rs 10/10 gm, silver unchanged as investors weigh on rate hike

10 gram of 24-carat of gold is trading at Rs 52,210, while 22-carat gold is selling at Rs 47,860. READ HERE

10:05 AM

MARKET CHECK: Sensex extends fall in early trade; slips 600 pts

 

10:00 AM

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

>> Two crucial numbers coming this week are significant - RBI's rate hike tomorrow and the inflation rate in the US expected on Friday. RBI's rate hike is a foregone conclusion; the only unknown is the quantum of the rate hike. Even if the rate hike is by a steep 50bp, the market is unlikely to be impacted much since frontloading of the rate hike will be more effective in anchoring inflation expectations.

 

>> The market direction is likely to be influenced more by the inflation in the US, which, in turn, will decide how far the Fed will go in raising rates. This will be the key determinant of possible 'risk on' or 'risk off' in equity markets globally.

 

>> A rising rate scenario will improve the margin of the banking sector since deposit rates lag lending rates. The most attractively valued segment in the market now is financials, particularly banking.

9:54 AM

Policybazaar tanks 10% as CEO Yashish Dahiya plans 3.77 mn share sale

Yashish Dahiya intends to offload partial stake via bulks deals on the exchanges. He currently holds 24.52 million shares in the company. READ HERE