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May 4, 2021 4:07 PM

RIL, HDFC twins, Infosys, ICICI Bank contributed to maximum losses on Sensex

May 4, 2021 4:01 PM

Sensex: Only 9 stocks end positive; RIL, HDFC twins, Infosys drag indices

May 4, 2021 3:59 PM

Contrarian bet on Bank Nifty can work, says Mehraboon J Irani MD & CEO Gini Gems Consultants

“The Bank Nifty could be a dark horse despite the fact that on fundamental basis you find more negatives than positive because they are relatively under owned, people on the whole are still negative and that is where the contrarian bet can work out in their favour in a market in which the frontline indices have not been doing anything for the last couple of months.”

“On fundamental basis it is not easy to say to buy some second rung bank stocks, PSU banks here and there. You buy only when you are hoping that some working arrangement will be worked by the central bank in the days to come, but on the whole on fundamental basis the comfort level is not very high.”

“In all possible ways Tata Chemicals has lost out, as far as March quarter goes but going ahead commissioning of its facilities which is happening at its two different units – Dahej as well as Mithapur as well as some more specialty chemical products coming out. So another 5-10 percent fall but this will be a stock that people will look at favourably. So all said and done, at Rs 650 the stock should attract fresh buying.”

May 4, 2021 3:47 PM

Independent market expert Anand Tandon shares views on the steel sector: Here’s what he said

“I think it is not the best time to be buying in the steel sector, though I believe that the prices will continue to remain firm. I think steel prices will continue to remain firm and perhaps will have another leg up but that will begin to harm the demand side at some stage and I don’t think that is more than two quarters away. So from the stock market perspective, you will get a couple of very good quarters even now from the steel companies and therefore the prices may continue to move up, but you may want to wait for a pullback before you begin to enter again.”

May 4, 2021 3:44 PM

MARKET AT CLOSE: Here are the key highlights from today's trading session

Market Closes Lower Amid Volatility

Sensex Falls 743 Points & Nifty 227 Points From Day’s High

Midcap Index Slips 471 Points & Nifty Bank 741 Points From Highs

Sensex Closes 465 Points Lower At 48,253 & Nifty 138 Pts Lower At 14,497

Nifty Bank Slips 195 Points To 32,270 & Midcap Index 96 Points To 24,168

PSU Banks Gain In A Weak Session With Nifty PSU Bank Rising Over 3%

Pharma Is The Top Losing Index; Nifty Pharma Falls More Than 2%

Cipla, Divi’s, Dr Reddy’s & Sun Pharma Are Top Nifty Losers

Tata Cons Under Pressure Ahead Of Its Earnings On May 6

Oil Marketing Cos Gain Of Fuel Price Hike After 2 Mths; BPCL Up 2%

SBI Life Moves 3% Higher On Brokerages’ Positive Stance After Q4 Earnings

Tata Chem Slips Almost 10% After Reporting Lower-than-expected Results

PNB, BoB, Union Bank, Bk Of India Amongst Top PSU Bank Gainers

Market Breadth Favours Declines; Advance-Decline Ratio At 2:3

May 4, 2021 3:38 PM

Closing Bell: Sensex, Nifty fall sharply; Reliance, HDFC twins top drags on indices

Indian shares turned sharply negative with benchmark Sensex dropping 465 points, while the broader Nifty50 fell by 137 points on fresh worries over COVID-induced lockdown, business impact and IPL suspension along with Goldman Sachs lowering India growth forecast.

May 4, 2021 3:37 PM

Mutual Fund Corner: MF experts answer how to negotiate the turbulent times

This is a turbulent time for a lot of investors and they want to find out what they should be doing with their current investments. Anubhav Srivastava, Partner & Sr Fund Manager at Infinity Alternatives, and Prableen Bajpai, Founder of FinFix Research & Analytics, answer all viewer queries in the special show ‘Mutual Fund Corner’.

May 4, 2021 3:26 PM

L&T Technology dips over 8% despite decent Q4 results

Shares of L&T Technology Services dropped over 8 percent to hit a low of Rs 2,557.80 on Tuesday even after the company reported a consolidated profit of Rs 204.8 crore for Q4FY21, against Rs 186.1 crore a quarter ago. L&T Technology shares fell as much as 8.47 percent to Rs 2,560 apiece intraday on BSE. On the National Stock Exchange (NSE), the company's shares declined to as much as Rs 2,557.80 apiece, down 8.56 percent.

May 4, 2021 3:16 PM

Bankers seek loan moratorium extension for 3 months esp for retail, MSME borrowers

Bankers have made a request to the RBI to allow a moratorium for three months, especially to retail & MSME borrowers. Also, the announcement of reliefs need to be done at the earliest to prevent accumulation of stress: Banking Sources

May 4, 2021 3:15 PM

Market Updates: Sensex, Nifty fall sharply, indices down over 1%; Midcaps over 0.6% lower

Indian shares turned sharply negative going into the last 30 mins of trade with Sensex falling over 500 points and Nifty also dropping over 150 points. At 3.01 pm, the Sensex traded 500 points lower at 48,217 and the Nifty dipped 159 points trading at 14475. Among shares, Tata Consumers declined 5 percent, Cipla over 3 percent, M&M 2.7 percent, Divis Labs and Hindalco 2.5 percent each on Nifty, while gainers on the NSE frontline index included SBI Life 2.3 percent, Bajaj Fin 1.7 percent, BPLC, SBI and ONGC by up to 1.27 percent. Index heavyweight stock RIL declined over 2.33 percent and HDFC Bank also fell over 2 percent.

May 4, 2021 3:03 PM

Alembic Pharma's revenue & profit rise while margin slips YoY. US sales drop 18% while India & API grow 5% & 38% respectively

May 4, 2021 2:51 PM

JSW Steel USA, ATI sign pact to convert steel slabs into hot rolled coils

JSW Steel's US-based subsidiary has signed an agreement with Allegheny Technologies Inc (ATI) to convert carbon steel slabs into hot rolled coils. The move will help JSW Steel USA Ohio Inc to deliver high quality hot rolled coils (HRC) products to its customers in the US, the company said in a statement on Tuesday. "JSW Steel USA Ohio Inc has signed a long-term agreement with Allegheny Technologies Inc. for the conversion of carbon steel slabs manufactured at JSW Steel USA's facility in Mingo Junction, OH into hot rolled coils at ATI's hot rolling and processing facility in Brackenridge, PA," it said.

May 4, 2021 2:34 PM

SC strikes down WB law regulating real estate sector, calls it unconstitutional

The Supreme Court Tuesday struck down West Bengal's law on regulating real estate sector saying it was unconstitutional as the state's statute encroached upon the Centre's Real Estate (Regulation and Development) Act (RERA). The top court also said that WB HIRA has failed to include valuable safeguards for the homebuyers'. A bench of justices D Y Chandrachud and M R Shah said the West Bengal Housing Industry Regulation Act (HIRA), 2017 is more or less identical to the Centre's RERA and hence repugnant to Parliament's law. The state law has encroached upon the domain of the Parliament and hence is unconstitutional, the verdict said. It said however that homebuyers who have purchased properties under state law before its verdict, will not have to worry as their registration and other acts would remain valid.

May 4, 2021 2:30 PM

Goldman Sachs lowers India growth forecast for FY21 to 11.1%

Wall Street brokerage Goldman Sachs has lowered its estimate for India's economic growth to 11.1 per cent in fiscal year to March 31, 2022, as a number of cities and states announced lockdowns of varying intensities to check spread of coronavirus infections. India is suffering the world's worst outbreak of COVID-19 cases, with deaths crossing 2.22 lakh and new cases above 3.5 lakh daily. This has led to demand for imposition of nationwide strict lockdowns to stem the spread of the virus - a move that the Modi government has so far avoided after the economic devastation last year from a similar strategy. Instead, it has left it to the states to impose restrictions to manage the virus. Several states and cities have imposed lockdowns of varying degrees. "The intensity of the lockdown remains lower than last year," Goldman Sachs said in a report. "Still, the impact of tighter containment policy is clearly visible in higher frequency mobility data across key India cities."

May 4, 2021 2:12 PM

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