Sensex Today: LIVE Stock Market Updates: Sensex Drops 250 Bps on RIL, ITC Losses; Clever below 16,000; Asian Paints extends losses, down 4%
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Jefferies has upgraded Jubilant FoodWorks to “Buy” after the recent inventory correction. BofA Securities maintained a similar rating on Coal India citing a beaten fourth-quarter Ebitda on higher achievement. JPMorgan maintained its “overweight” position in Nalco, but reduced its earnings multiples to reflect increased political risk. Credit Suisse maintained an “outperform” option on InterGlobe Aviation (IndiGo) as it believed management commentary was strong, with March and April performance numbers. Meanwhile, Nomura India downgraded the ratings of many IT stocks.
Affle India, VIP Industries, MOSL among big losers, tank up to 7%
Price as of May 26, 2022 10:53Click on company names for their live prices.
Tax raids are underway in 35-40 premises in Gujarat. Raids are carried out at the premises of Asian Granito India: Sources (from agencies)
Price as of May 26, 2022 10:34 amClick on company names for their live prices.
Sensex Today LIVE: Sensex wipes out all gains, slides into red
Apollo Hospitals tumbles 5% as pharma reorganization drives fourth-quarter profits down 46% year-over-year
Shares of Apollo Hospitals Enterprises fell 4.5% in early trade Thursday after the hospital chain company said its consolidated after-tax (PAT) profit fell 46% year-on-year. other (YoY) at Rs 90 crore for the fourth quarter ended. on March 31, 2022. The healthcare provider had reported a PAT of Rs 168 crore in the January to March quarter of the 2020-21 financial year. The drop in net profit was due to a capital gains tax provision of Rs 88.2 crore related to the reorganization of its pharmaceutical distribution business.
Nomura downgraded Tata Consultancy Services and L&T Infotech to “reduce” from “neutral” and downgraded Wipro, HCL Technologies and Persistent Systems to “neutral” from “buy”. Infosys and Tech Mahindra are Nomura’s only “buy” listed stocks in the IT sector.
Price as of May 26, 2022 10:11 a.m.Click on company names for their live prices.
Sensex Today LIVE: Index off daily high, slips below 54,000 level
The Rupee gains 3 paise to 77.52 against the US Dollar in early trading
The rupiah rose 3 paise to 77.52 against the US dollar in Thursday’s opening session as the positive trend in domestic equities and weakness in the US currency abroad supported local unity. However, rising crude oil prices in international markets and continued outflows of foreign funds kept the pressure on the domestic currency, traders said.
Market View: Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
For the Indian economy, high crude prices will continue to be a major headwind and strong REIT sales, which are expected to continue, will be a major impediment to market recovery.
The market trend continues to be uncertain and therefore what investors can do now is buy high quality stocks for the medium to long term. Financials, especially the big banks, are good medium to long-term buys.
STOCK IN FOCUS: SBI card
#KhabarFromDStreet | SBI Card management expects credit cost moderation to continue, which will help improve RoA… https://t.co/TiN07Q4T2E
— AND NOW (@ETNOWlive) 1653537357000
Voda Idea, Coal India, MRPL among the most active stocks on NSE
Price as of May 26, 2022 09:20Click on company names for their live prices.
Sector watch: FMCG, Realty pack only sector losers in opening session
OPENING BELL: Sensex jumps 350 points, Nifty near 16,100; IndiGo rallies 6%, Torrent Pharma 5%
What to expect from Hindalco’s results today?
#EarningsWithETNOW | Hindalco Q4FY22 Poll: Revenues seen at Rs 19,567 cr vs. Rs 14,477, up 35% YoY… https://t.co/8OA6zLFw7X
— AND NOW (@ETNOWlive) 1653536466000
SGX Nifty reports positive start
Nifty futures on the Singapore Stock Exchange traded 77 points, or 0.48%, at 16,099.50, signaling Dalal Street was heading for a positive start on Thursday.
Tech View: Nifty50 Could See Remote Trading
Nifty50 on Wednesday fell for the third day in a row and formed a bearish candle on the daily chart, in as many trading sessions. During the session, the index managed to defend the 16,000 mark and continued its recent consolidation. Analysts said moves within the range may continue in the coming days and any rise in Nifty50 will face hurdles at the 16,400 level.
Hong Kong stocks open with gains
Hong Kong stocks opened strong on Thursday morning after a positive lead from Wall Street fueled by easing fears over the Federal Reserve’s interest rate hike plans. The Hang Seng Index rose 0.50%, or 100.95 points, to 20,272.22. The Shanghai Composite Index edged up 0.13%, or 4.02 points, to 3,111.48, while the Shenzhen Composite Index on China’s second largest stock exchange added 014%, or 2.69 points. , at 1,947.57.
Japanese stocks open higher after Wall Street gains
Shares in Tokyo opened higher on Thursday after gains on Wall Street, despite lingering concerns about inflationary pressures from the war in Ukraine. The benchmark Nikkei 225 added 0.14%, or 36.94 points, to 26,714.74, while the broader Topix index rose 0.45%, or 8.43 points, to 1,885, 01. The dollar settled at 127.30 yen, almost flat from 127.26 yen on Wednesday in New York.
Oil firms on tight supply though EU ban on Russian oil remains uncertain
Oil prices rose on Thursday, extending a cautious rally this week on signs of tight supplies as the European Union (EU) tussles with Hungary over its plan to ban imports from Russia, the world’s second crude exporter, after invading Ukraine. Brent futures for July settlement rose 7 cents, or 0.1%, to $114.10 a barrel at 0142 GMT. U.S. West Texas Intermediate (WTI) crude futures for July delivery climbed 22 cents, or 0.2%, to $110.55 a barrel.
US stocks climb as Fed minutes show resolve on rates
Stocks ended broadly higher on Wall Street on Wednesday after minutes from the Federal Reserve’s latest meeting signaled the central bank intended to move “quickly” to raise interest rates to higher levels. neutral in its fight to control inflation. The S&P 500 rose 0.9%, while the Dow Jones Industrial Average rose 0.6%. The Nasdaq climbed 1.5%. The indexes, which rallied after being in the red early on, are on course for a weekly gain, despite trading higher and lower this week.
The rupee gains 2 paise at 77.54 against the dollar
The rupee recovered 2 paise to settle at 77.55 against the US currency in restricted trade on Wednesday as bank interventions supported local unity while a stronger dollar in overseas markets limited gains . The US dollar ended its two-day loss before the release of the minutes of the US Fed meeting this month. The US dollar index gained 0.4% to 102.25 against a basket of six global currencies.
Sensex, Nifty on Wednesday
Extending the streak of losses to the third straight day, India’s stock market benchmark Sensex closed at 303 points on Wednesday, led by heavy selling pressure on IT stocks. The 30 S&P BSE Sensex shares fell 303.35 points or 0.56% to 53,749.26 points against the previous day’s close at 54,052.61 points. The broader National Stock Exchange Nifty 50 fell 99.35 points or 0.62% to 16,025.80 points.