Sensex zooms 340 pts, ends near 65,800; Nifty tests 19500; auto stocks lead

Closing Bell on July 6, 2023: This was the Nifty50 index's eighth straight session of gains

11:01 AM

Sebi seeks explanation from NSE over misuse of its TAP platform: Report

In 2013, some high-frequency traders manipulated the platform to execute 'thousands of orders' without being detected and crowding out other users. READ MORE

10:48 AM

Rice prices set to rally further as weather threatens producers' yields

Rice is a staple for more than 3 billion people and nearly 90% of the water-intensive crop is produced in Asia, where the El Nino weather pattern usually brings lower rainfall. READ MORE

10:40 AM

Eicher Motors extends fall, hits over 2-month low; down 11% in 3 days

Bajaj Auto and British motorcycle brand Triumph on Wednesday launched co-developed Triumph Speed 400 and Scrambler 400 X motorcycles in India. READ MORE

10:33 AM

EXPERT COMMENT: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

>> An important trend in the market is the surge in retail investor participation as indicated by the sharp increase in new demat accounts ( 2.36 million) opened in June. New retail investors jumping on to the market band wagon normally happens at the peak of a rally. This is a sign for caution.

 

>> The FPI liquidity driven rally is showing signs of losing steam. Some of the leading indicators like credit growth for Q1 from banking majors like the merged entity HDFC Bank indicate a possible slowdown in the economy. Two-wheeler sales in June indicate that demand continues to be a problem in rural areas. In brief, the macroeconomic scenario, though good, is not so bullish as to warrant continuation of the rally, which has already run a bit ahead of fundamentals.
 

>> Investors should not chase low-grade small-cap stocks at this juncture. Stay invested in high quality large-caps. Wait for the Q1 results for direction.

10:22 AM

Indian state-run banks to be cautious buyers of govt bonds as yields rise

Bond yields started rising after the Reserve Bank of India's June monetary policy decision pushed out hopes of a rate cut to February, with many participants expecting one only next financial year. READ MORE

10:13 AM

DCB Bank surges 8% as RBI allows Tata MF for raise stake up to 7.5%

The Reserve Bank of India has granted its approval to Tata Asset Management Company (AMC) to increase stake in the private sector lender up to 7.5 per cent. READ MORE

10:03 AM

Tech view: Maruti could rally up to Rs 10,700 in the near-term

The share price of Maruti crossed Rs 10,000 mark for the first-time ever on Wednesday, after the company launched Invicto - its first car in Rs 20 plus lakh segment. READ MORE

9:52 AM

Adani group promoters looking to trim more stake to build cash reserves

The Adani family owns over 60 per cent stake in the group's listed companies, except Adani Green Energy and ACC Ltd. READ MORE

9:45 AM

LIC pares shareholding in India Cements; stock down 2%

9:42 AM

Force Motors clocks total domestic sales of 2,431 units in June; stock up 4%

9:36 AM

Solara Active slips 1% post Jitesh Devendra resigns as MD of the firm

9:32 AM

Prestige Estates rallies 3% after arm inks pact with WS Industries

9:30 AM

Ujjivan SFB surges 2% after total deposits grew 44% YoY in Q1FY24

9:28 AM

Tata Power rises 2% after it bags Rs Rs 1,744 crore order in Chhattisgarh

9:24 AM

Shares of Realty, Media surge up to 1%; IT index slips 0.2%