Sensex falls 388 pts, Nifty holds 19,350 amid weak global cues; PSBs outrun

Closing Bell on August 17, 2023: On the upside, only the Nifty PSU Bank index (up 1.5 per cent) outperformed the markets

1:58 PM

Market Check:: Nifty PSU Bank index up nearly 1%; PNB, Indian Bank shine

1:46 PM

Market Check:: BSE MidCap index at day's high, up 0.3%; REC soars 5%

1:35 PM

Seeing positive trends in travel, investing in tech: MakeMyTrip Group CTO

Moving swiftly to capitalise on the Indian diaspora in the Gulf countries where the brand is quite well-known, MakeMyTrip has also entered the Gulf market, he said. READ MORE

1:24 PM

Bata India rallies 6% on report company in talks to tie-up with Adidas

The footwear company is in talks with German sportswear giant Adidas for a strategic partnership for the Indian market, a report said. READ MORE

1:13 PM

Asian Market Check:: Hang Seng, Shanghai back in green; Nikkei recoups losses

1:01 PM

ALERT :: NCLAT agrees to hear the IDBI-Zee case on August 31

>> NCLAT agrees to hear IDBI Bank's plea seeking insolvency proceedings against Zee

>> Zee seeks dismissal of plea

>> On May 10, NCLT had rejected IDBI's insolvency plea

12:51 PM

ALERT :: Nifty breaks 19,350

12:43 PM

ITC hits 2-month low; stock down 12 per cent from record high

ITC is a diversified company engaged in various businesses including hotels. The Hotels Business of ITC includes ownership/ licensing/ management of several hotel properties and providing services including accommodation, dining, banqueting, etc. READ MORE

12:35 PM

Comment :: 'Easing crude oil prices may cushion rupee fall'

The Indian Rupee has breached the 83 mark against the US Dollar, persistently trading near its weakest levels while grappling with the challenge of finding strength. The mounting trend of heightened participation in the dollar and US Treasuries, coupled with sustained Foreign Institutional Investor (FII) outflows amid a rising yield environment further compounds the pressure on the Indian currency. This situation raises the risk of a potential devaluation of the Indian Rupee. However, the easing of crude oil prices offers some respite and lends some support to the currency.

 

The USDINR pair is trading near its all-time high levels of 83.1 teetering on the brink of a significant depreciation in the Indian currency. The strength in the Indian currency, might lead to a downward journey in the USDINR Pair towards 82.1 levels.

12:25 PM

Currency check :: Rupee weakens further

12:13 PM

ALERT :: Themis Medicare looking at entering hospital market, says company in investor presentation

12:03 PM

FMCGs extend fall on RBI's warning of higher inflation; more pain on cards?

Barring Varun Beverages that reached a new all-time high and Colgate Palmolive (India), other FMCG stocks trade fragile. READ MORE

11:51 AM

Future Retail resolution professional seeks insolvency deadline extension

"The Resolution Professional of Future Retail Limited (FRL) has filed an application before National Company Law Tribunal, Mumbai seeking exclusion of a period of 29 days from CIRP of FRL, and consequent extension from August 17, 2023 to September 15, 2023 for concluding the CIRP of FRL," it said. READ MORE

11:40 AM

GE T&D extends rally on strong order wins in Q1; soars 42% so far in August

Shares of GE T&D India hit over five-year high of Rs 361.80, and were frozen at the 5 per cent upper circuit at 10:33 am on Thursday, in otherwise weak market. In comparison, the S&P BSE Sensex was down 0.33 per cent at 65,322 READ MORE

11:32 AM

Market Check :: Sensex drops over 300 pts