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Nifty Bank tumbles 600 points; IndusInd Bank, Yes Bank, SBI and other stocks fall up to 3%. What lies ahead?
The Nifty Bank index plunged over 1% on Wednesday, tracking the broader market selloff, with the gauge falling 626 points to 53,089. AU Small Finance Bank and IndusInd Bank led losses, while most PSU and private lenders traded lower. Weak sentiment extended across markets as the Sensex dropped over 1,100 points, the Nifty slipped below 23,300, and IT stocks fell by up to 7%.
RBI MPC meeting begins today: Will RBI announce a rate hike as Middle East conflict threatens to drive inflation?
According to wealth management firm DSP Mutual Fund, the central bank is unlikely to announce a rate hike, instead, the bank is likely to follow a step-by-step sequence before pulling the trigger on rates to defend the currency.
Kotak’s Nilesh Shah calls for easier access to India for global investors through GIFT City
Nilesh Shah, Managing Director of Kotak Mahindra AMC, said India should enable omnibus investment structures through GIFT City to make investing easier for global investors and NRIs. Speaking alongside industry leaders including Navneet Munot, MD & CEO of HDFC AMC, Shah argued that requiring individual PAN registration creates friction for overseas investors. Participants also called for simpler onboarding, digital KYC processes and stronger promotion of India as a destination for long-term capital.
IT stocks crash! TCS, Tech Mahindra, Infosys, others drag down Nifty IT 4% intraday; check key factors behind fall - Upstox
IT stocks crash! TCS, Tech Mahindra, Infosys, others drag down Nifty IT 4% intraday; check key factors behind fallUpstox
INR depreciates further to one-week low as oil stays elevated amid Middle East turmoil
The Indian rupee depreciated further in opening trades on Wednesday as oil prices stay elevated, driving fears of inflationary pressures in future. INR opened at Rs 95.43 per dollar and hit a low of 95.65 so far during the day. Yesterday, rupee fell 15 paise to close at 95.34 against the US dollar, as global crude oil prices jumped and the American currency remained firm amid massive safe-haven inflows. Significant foreign fund outflows also weighed on the investor sentiments. Local equities continue to stay strained in early trades with BSE Sensex trading at 73,866.45, down by 783.39 points and NSE Nifty 50 trading at 23,247.90, down by 235.65 points.
Sensex tumbles over 1,100 points, Nifty below 23,200. 6 key factors behind today's D-Street rout - The Economic Times
Sensex tumbles over 1,100 points, Nifty below 23,200. 6 key factors behind today's D-Street routThe Economic TimesWhy is stock market down today? BSE Sensex, Nifty50 crash around 1% - top reasons for fallThe Times of IndiaSensex recovers 500 pts from day's low, but still down 0.9%: Three key reasons behind market paring lossesMoneycontrol.com
Gift Nifty signals 100-point lower opening as markets await RBI policy decision - BusinessLine
Gift Nifty signals 100-point lower opening as markets await RBI policy decisionBusinessLine
Stocks to buy for short term: Kotak Bank, Eternal among 5 stocks Pabitro Mukherjee of Bajaj Broking recommends
Stocks to buy for the short term: Pabitro Mukherjee from Bajaj Broking identifies five promising stocks for short-term investment, including Kotak Mahindra Bank and Eternal, that offer potential gains. Discover the targets and strategies behind these expert recommendations.
Uday Kotak Says Google's $80-Billion Fundraise Is 'Wake Up Call' For Indian Listed Companies
Alphabet announced a $80 billion stock sale earlier in the day, including an investment deal with Berkshire Hathaway Inc., to fund its ambitious artificial intelligence spending plans.
INR settles lower as global crude oil prices stay elevated amid Middle East turmoil
The Indian rupee depreciated 15 paise to close at 95.34 (provisional) against the US dollar on Tuesday, as global crude oil prices jumped and the American currency remained firm amid massive safe-haven inflows. Significant foreign fund outflows also weighed on the investor sentiments. At the interbank foreign exchange market, the rupee opened at 95.16 against the US dollar, then touched an intraday high of 95.03 and a low of 95.37. Indian shares closed higher on Tuesday, staging a rebound after four days of losses as investors assessed mixed signals over the status of U.S.-Iran peace talks and awaited upcoming RBI rate decision. The Nifty 50 gained 100.95 points (0.43%) to close at 23,483.55, while the Sensex rose 382.50 points (0.52%) to settle at 74,649.84.
Benchmarks snap 4-day losing streak; IT stocks power market rebound
The S&P BSE Sensex jumped 382.50 points or 0.52% to 74,649.84. The Nifty 50 index rose 100.95 points or 0.43% to 23,483.55. In the past four consecutive trading sessions, the Sensex tanked 2.90% while the Nifty fell 2.70%.
Market snaps four-day losing streak; Nifty settles above 23,450 mark
As per provisional closing data, the barometer index, the S&P BSE Sensex surged 382.50 points or 0.52% to 74,649.84. The Nifty 50 index rallied 100.95 points or 0.43% to 23,483.55. In the past four consecutive trading sessions, the Sensex tanked 2.90% while the Nifty fell 2.70%.