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Home / Markets / Live Blog /  Sensex tumbles 566 points as banks, IT stocks drag; Nifty ends around 17,800

Sensex tumbles 566 points as banks, IT stocks drag; Nifty ends around 17,800

Stock Market Today:  Indian indices are weak tracking global cues. (PTI)Premium
Stock Market Today:  Indian indices are weak tracking global cues. (PTI)

  • Share Market Closing: Sensex and Nifty closed lower for the second day on Wednesday as banks, financial and IT stocks fell amid weak global cues. HDFC twins continued their losing run since Tuesday

Indian markets ended down on Wednesday tracking global indices and as banks, financials and IT stocks bled. Stocks fell globally as investors weighed the possibility of aggressive monetary tightening by the US Federal Reserve to fight inflation. Markets also focused on new sanctions by the West against Russia over its invasion of Ukraine.

06 Apr 2022, 03:31:44 PM IST

Markets end lower for the second day in a row

Indian benchmark indices closed lower on Wednesday due to selling pressure in banking and IT stocks. Sensex was down 566.09 points at 59,610.41, and the Nifty ended 0.83% lower at 17,807.70.  Metal stocks outshone all sectoral indices.

HDFC Bank, HDFC, were among the top index losers for the second straight day after the announcement of a merger deal. NTPC, Tata Steel and Power Grid Corp were the top gainers today.

Sensex at close
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Sensex at close
06 Apr 2022, 03:26:54 PM IST

TVS Motor up 2%; Jio-bp and the company have agreed to explore creation of a public EV charging infrastructure for two- and three-wheelers 

06 Apr 2022, 03:20:12 PM IST

HAL signs n MoU with Israel Aerospace Industries to convert civil (passenger) aircraft to Multi Mission Tanker Transport (MMTT) aircraft in India: CNBC-TV18

06 Apr 2022, 03:18:35 PM IST

CSR spending in backward districts rose in FY21: MCA

Corporate social responsibility spending by companies in the most backward districts increased in FY21. The MCA informed Parliament that companies have spent over 507 crore in 84 backward districts identified by the NITI Aayog, in FY21, against nearly 332 crores spent in 82 aspirational districts in FY20.

06 Apr 2022, 03:08:53 PM IST

RBL Bank gross advances rise 3% in FY22

Private sector lender RBL Bank on Wednesday said its gross advances grew by 3% to 61,929 crore in the last fiscal.

The bank had recorded gross advances worth 59,983 crore in FY21.

RBL Bank said the data is provisional, and it is being released ahead of the official announcement of the financial results for the quarter ended March 31, 2022. gross advances rose 3% year-on-year and 3% quarter-on-quarter to 61,929 crore as of 31 March. The same was 59,983 crore t the end of 31 March 2021 and crore at the end of December quarter.

The bank's CASA (current account savings account) deposits rose by 20% to 27,878 crore in FY22 from 23,264 crore in FY21, it added.

 

06 Apr 2022, 02:56:13 PM IST

BSE Midcap up 100 points; IDBI Bank, Yes Bank up over 8% each

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06 Apr 2022, 02:47:21 PM IST

DLF chairman Rajiv Singh richest real estate entrepreneur in India: Report

Realty major DLF's Chairman Rajiv Singh has become the richest real estate entrepreneur with a wealth of 61,220 crore, followed by Macrotech Developers' M P Lodha and family who slipped to the second position with a wealth of 52,970 crore, according to a report by Hurun and GROHE India 

06 Apr 2022, 02:37:34 PM IST

Vodafone Idea ties up with Apna, Enguru and Pariksha to provide curated job search & education services

06 Apr 2022, 02:24:44 PM IST

CCI probes debt trustee units of SBI, Axis, IDBI Bank

India's antitrust body Competition Commission of India is investigating the trustee units of State Bank of India, Axis Bank and IDBI Bank for suspected collusion on fees, triggering a lawsuit by a group representing them, documents seen by Reuters showed.

Indian regulations mandate that companies raising debt appoint a so-called "debenture trustee" to protect the interests of investors. The trustees charge a fee from the companies issuing the debt and make independent due-diligence checks on them.

The three under investigation - SBICAP Trustee Company, Axis Trustee and IDBI Trusteeship - are among the leaders in the business in India overseeing hundreds of billions of dollars by rendering trustee services for not just debt securities, but also real estate and other investment funds.

06 Apr 2022, 02:13:30 PM IST

Asian, European markets retreat on hawkish Fed bets

Equities sank Wednesday on bets the Federal Reserve will act more aggressively to bring inflation under control. While the Ukraine war continues to cast a shadow across trading floors, Fed monetary policy is at the top of the agenda this week as investors fret over how quickly officials will withdraw their vast pandemic-era financial support.

Nikkei 225 closed 1.6 % lower; Hang Seng Index was down 1.3%; Shanghai - Composite ended on a flat note. London's FTSE 100 was down 0.2%.

06 Apr 2022, 02:03:12 PM IST

JSW Infrastructure commissions first terminal at NMPT; to invest over ₹300 crore to expand capacity

06 Apr 2022, 01:48:41 PM IST

E-way bill spike in March hints at further growth in GST collection

Electronic permits for goods shipment within and across states in March have shot up to 78.1 million, the highest since November 2020 for which data is readily available, indicating that Goods and Services Tax (GST) revenue collections in April could surpass the all-time high seen in March. (Full report)

06 Apr 2022, 01:38:51 PM IST

DCX Systems files for ₹600 crore IPO

DCX Systems Limited, a leading manufacturer of electronic sub-systems and cable harnesses, has filed a draft red herring prospectus with capital markets regulator SEBI to raise 600 crore through an initial share sale.

06 Apr 2022, 01:29:31 PM IST

JSW Steel declared preferred bidder for Ajgaon Iron ore block in Maharashtra: CNBC-TV18

06 Apr 2022, 01:20:11 PM IST

Cost of living rises in India as companies pass on higher prices

Indian manufacturers are running out of capacity to absorb rising input costs, with an increasing number passing it along to consumers in an economy already grappling with Asia’s third-fastest inflation and an uneven recovery.

Companies from the Indian units of Unilever Plc and Suzuki Motor Corp. to homegrown JSW Steel Ltd. are raising prices in response to the global supply squeeze made worse by the surge in energy costs following Russia’s invasion of Ukraine. Higher retail fuel prices are also threatening to hurt demand just as the economy returned to its first full-year of growth after the pandemic-induced 6.6% contraction in the fiscal year ended March 2021. (Bloomberg) 

06 Apr 2022, 01:09:08 PM IST

Gold prices face downside risks in the near term: Report

Gold prices could face downside risks in the near term due to higher bond yields and the resolution of the Russia-Ukraine conflict sooner or later, according to Quantum Asset Management Company.

Given the geopolitical and macroeconomic backdrop, the fund house suggests that this could potentially be a good opportunity for investors to enter the market for the medium to long-term, to benefit from the various risks and structural disruptions which will be conducive for gold.

06 Apr 2022, 12:58:49 PM IST

BSE Smallcap index outshines broader market; up 0.7% 

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06 Apr 2022, 12:48:54 PM IST

Japan's Mitsui to pick up 49% stake in ReNew Power’s RTC project

Japanese investment firm Mitsui & Co will invest in the round-the-clock (RTC) renewable energy project being developed by ReNew Power and pick up a 49% stake in it.

06 Apr 2022, 12:39:13 PM IST

Tata Motors launches new electric SUV ‘Curvv’

Tata Motors unveiled a special electric SUV concept in India - Tata Curvv Electric SUV. Tata Curvv will be electric first SUV and will later get petrol and diesel engine options.

06 Apr 2022, 12:33:07 PM IST

Marico stock slips as Q4 update signals muted demand

Shares of Marico Ltd. were down about 4% on the National Stock Exchange in opening deals on Wednesday, following the company's business update for the March-ended quarter (Q4FY22). As per the update, demand conditions remain muted amid subdued rural sentiment and rising prices of commodities. (Read more)

06 Apr 2022, 12:22:45 PM IST

ICICI Securities recommends ‘buy’ on Tatva Chintan Pharma

“The management expects growth in SDAs to continue, and opportunities are increasing for emission control beyond transport vehicles. Tatva Chintan should grow faster from new customer wins, and likely supply to developed market for Euro-7. It has cracked products that are high in purity, and has found application in semi-conductor industry. Supercapacitor batteries are being commercially launched which should drive growth for electrolyte salt. PASC will benefit from the knowledge of continuous flow chemistry, and the company is already in the process of commercializing products. It has reiterated its sustainable EBITDA margin guidance of 22-24%, and Dahej plant commissioning by Nov/Dec’22. We have cut our EPS estimates by 15% for FY22 on lower SDA sales (on chip shortage) and by 4-6% for FY23-24E. We forecast revenue / EPS CAGR of 31% / 28% over FY22-24E. Accordingly, we cut our target price to Rs3,000 (from Rs3,110, 40x FY24E EPS). Maintain BUY. Our estimate does not completely capture the rising opportunities in semi-conductor industry and PASC."

06 Apr 2022, 12:14:26 PM IST

Markets at noon: Sensex down 376 points;  NTPC top gainer; HDFC twins biggest laggards

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06 Apr 2022, 12:00:03 PM IST

Maruti Suzuki to hike prices of different models this month due to rising input costs

06 Apr 2022, 11:54:24 AM IST

ITC says sustainably managed over 54,000 tonnes of plastic waste in FY22

ITC Ltd on Wednesday said it is accelerating its move to go beyond plastic neutrality, having sustainably managed more than 54,000 tonnes of plastic waste across India in 2021-22.

The company said its flagship solid waste management programme Well-Being Out of Waste' (WOW) has so far covered 1.8 crore citizens across 46.7 lakh households in India's large cities and small towns.

06 Apr 2022, 11:44:24 AM IST

Persistent Systems strengthens leadership team to drive growth

Persistent Systems Ltd. is bolstering its leadership team by inducting senior leaders to support the company’s growth and strategic initiatives.

Sameer Bendre, formerly chief people officer, will take on the role of chief of operations with the responsibility for overseeing Pune-based Persistent’s environmental, social, and governance (ESG) and risk management priorities as well as the company’s enterprise information systems and administration functions.

06 Apr 2022, 11:33:35 AM IST

India's Paytm aims to break-even for profitability in 1.5 years; shares up over 4%

Source: BSE
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Source: BSE
06 Apr 2022, 11:23:14 AM IST

Bandhan Bank's Q4 business update signals recovery, but risks remain

Shares of private sector lender Bandhan Bank Ltd were in focus on Wednesday, after the lender released the business update for the March-ended quarter of financial year 2022. Decent growth in business momentum and improvement in collection efficiency were among the key highlights. (Read here)

06 Apr 2022, 11:14:17 AM IST

Sensex contributors: HDFC twins, Infosys drag index

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06 Apr 2022, 11:03:38 AM IST

Nifty Energy up 0.8%; Tata Power jumps 10%; Reliance down

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06 Apr 2022, 10:52:17 AM IST

India's services activity rises to 53.6 in March from 51.8 in February

India's services sector expanded at its fastest pace so far this year in March as an easing of Covid-19 restrictions boosted demand, but elevated inflationary pressures clouded business confidence, a private survey showed.

The S&P Global India Services Purchasing Managers' Index rose to 53.6 in March from 51.8 in February.

06 Apr 2022, 10:41:16 AM IST

Fuel prices up ₹10 in 16 days, petrol above ₹105/litre in Delhi

Oil marketing companies raised prices of petrol and diesel by 80 paise a litre each on Wednesday. Petrol is now priced at 105.41 a litre in the national capital, while diesel is sold for 96.67 a litre.

06 Apr 2022, 10:38:24 AM IST

Tata Consultancy Services down 1.6%

Kansas Department of Labour has selected TCS to build a modern, secure, web-based system for the state's unemployment insurance program. This will help transform a legacy mainframe platform from the 1970s into a cloud-based system that dramatically improves the delivery of services to Kansas residents.

06 Apr 2022, 10:29:33 AM IST

Indian rupee falls 24 paise to 75.53 against US dollar in early trade

06 Apr 2022, 10:18:28 AM IST

HDFC Bank, HDFC extend losses from the previous session, down around 2% each

06 Apr 2022, 10:09:14 AM IST

NTPC up 3%; India's top electricity producer's coal imports this financial year will be the highest in eight years

06 Apr 2022, 09:54:32 AM IST

Nifty Bank down 1.2%; Federal Bank top gainer, HDFC Bank, Bandhan Bank lag

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06 Apr 2022, 09:44:31 AM IST

Market view: Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One

Monday’s spectacular move was followed by a quiet start yesterday morning marginally in the green. However, in the initial trade, small gains just disappeared and then the index slipped into a consolidation mode thereafter. The profit booking extended a bit in the first half and in the process, the Nifty went on to test the 17950 mark. Fortunately, as we stepped into the latter half, the buying resumed recouping all losses. However, towards the fag end, the market became nervous all of a sudden, which resulted in a sharp downtick to slide below morning’s low as well. Eventually, the Nifty ended the session convincingly below 18000 by shedding over half a percent.

The way the market closed in the previous session around the day’s high, we should have ideally opened higher and in fact, was expected to extend the rally. Unfortunately, this didn’t happen; because the major drivers of Monday’s move (banking) saw some decent profit booking. Hence, we could not even surpass Monday’s high of 18114.65. With yesterday’s tail end sharp profit booking, one shouldn’t get carried away as such small profit taking is a part and parcel of the market activity. Going ahead, Monday’s gap area of 17800 – 17700 is likely to provide some cushion for the index and till the time we do not see it closing convincingly below it, there is no reason to worry for.

In fact, if we see any decline towards intraday support of 17900 – 17800, one can think of going long. On the flipside, 18100 has become an immediate hurdle above which we are good to go towards 18350. Despite some nervousness in key indices, the broader market did extremely well. Hence, traders should keep focusing on such potential movers, especially stocks from the cash segment which are providing some excellent trading opportunities.

06 Apr 2022, 09:34:55 AM IST

Nifty Bank and Financial services down over 1% each; metals shine

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06 Apr 2022, 09:28:10 AM IST

Nifty below 17,900: HDFC Bank, Bajaj Finserv top losers; Adani Ports, NTPC gain

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06 Apr 2022, 09:23:39 AM IST

Sensex opens lower: Tata Steel, Airtel top charts; HDFC twins continue to lag  

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06 Apr 2022, 09:17:32 AM IST

Sensex, Nifty open lower on weak global cues

06 Apr 2022, 09:05:26 AM IST

Sensex flat to lower in pre-open; DRL, NTPC up

Pre-open trade
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Pre-open trade
06 Apr 2022, 09:02:43 AM IST

Sensex, Nifty flat in pre-opening session

06 Apr 2022, 08:58:25 AM IST

Gold dips as stronger dollar, yields dent appeal

Gold eased on Wednesday as hawkish comments from U.S. Federal Reserve officials boosted the dollar and Treasury yields to multi-year highs, denting the safe-haven metal's appeal. Spot gold was down 0.2% at $1,920.87 per ounce, while U.S. gold futures fell 0.3% to $1,920.90.

06 Apr 2022, 08:46:29 AM IST

Corporate profiteering to be in focus at GST meet

The ministerial panel led by Karnataka chief minister Basavaraj Bommai working on the restructuring of goods and services tax (GST) rates will examine whether companies passed on rate cuts in the past, before recommending changes to tax slabs. (Full report)

 

06 Apr 2022, 08:36:34 AM IST

MGL hikes CNG price by ₹7/kg, domestic PNG price by ₹5/scm 

The city gas utility Mahanagar Gas Ltd has announced a steep hike in the retail price of CNG by 7 per kg and domestic PNG by 5 per scm to 41per scm, effective Wednesdy.

06 Apr 2022, 08:28:17 AM IST

ADB projects India's economy to grow by 7.5% in FY23

Asian Development Bank on Wednesday projected a 7% collective growth for South Asian economies in 2022 with the subregion's largest economy India growing by 7.5% in the current fiscal year before picking up to 8% the next year. 

06 Apr 2022, 08:18:52 AM IST

Crude oil slips on pressure from rising dollar

Oil futures slid on Wednesday, extending losses from the previous day, as a stronger U.S. dollar prompted fresh selling while data showing a build in U.S. crude stocks and Shanghai's extended lockdown fuelled fears of slower demand.

Brent crude futures fell 97 cents, or 0.9%, to $105.67 a barrel, while U.S. West Texas Intermediate futures were down 98 cents, or 1.0%, to $100.98 a barrel at 0029 GMT. Brent fell 0.8% on Tuesday and WTI lost 1.3%.

06 Apr 2022, 08:05:21 AM IST

Stocks to Watch: Tata Steel, Marico, Bandhan Bank, TVS Motor

Here is the list of the top 10 stocks that are likely to be in focus on Wednesday

06 Apr 2022, 08:03:22 AM IST

Centre may expand size of LIC share sale

The government is considering increasing the stake it plans to sell through an initial public offering of state-run Life Insurance Corp. of India (LIC) from 5%, even as the timing of the share sale is being finalized.

While the government can sell as much as 7.5% of LIC, it may decide to sell only between 5.5% and 6.5%, depending on the investor interest, an official aware of the discussions said. The official said that the government will have to file revised share sale documents if it wants to sell more than 7.5%.

06 Apr 2022, 07:24:16 AM IST

Asian stocks slip

Asian share markets slipped on Wednesday as investors weighed the possibility of aggressive monetary tightening by the U.S. Federal Reserve to fight inflation, while focus was also on new Western sanctions against Russia over its invasion of Ukraine. In early trade in Asia, Japan's Nikkei shed 1.5%, while South Korean shares fell 0.8% and Australian shares lost 1.2%.

06 Apr 2022, 07:22:03 AM IST

Wall Street ends down

US stocks closed lower and bond yields jumped Tuesday as remarks by a Federal Reserve governor fueled expectations that the central bank is prepared to more aggressively raise interest rates and take other steps to tame surging inflation. The Dow Jones Industrial Average fell 280.7 points, or 0.8%, to 34,641.18, the S&P 500 lost 57.52 points, or 1.26%, to 4,525.12 and the Nasdaq Composite dropped 328.39 points, or 2.26%, to 14,204.17.

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