The sensex came under fag-end selling pressure to close in the red for the sixth straight session on Friday as risk-off sentiment prevailed amid unabated selling by foreign institutional investors and concerns over inflation. Stay with TOI for all latest updates.Read Less
Bank of Baroda posts Rs 1,779 crore profit in March quarter
State-owned Bank of Baroda Friday reported a standalone profit after tax of Rs 1,779 crore in the quarter ended March 2022, helped by higher interest income and fall in bad loans. The lender had a loss of Rs 1,047 crore in the year-ago period.
Govt fixes LIC issue price at Rs 949 a share; policyholders, retail investors get discount
The government has fixed the issue price of LIC shares at Rs 949 apiece, the upper end of the IPO price band, fetching the exchequer around Rs 20,557 crore. The country's largest insurer will list itself on the bourses on May 17, following the initial share sale offer which was oversubscribed nearly three times the issue size.
Elon Musk sows doubt over his $44 billion Twitter takeover
Elon Musk sewed new chaos into the market over his takeover bid for Twitter on Friday, first claiming his offer was “temporarily on hold” and then maintaining he is “still committed” to the deal, sending the social media giant into a tailspin.
Govt to examine airlines charging domestic flyers extra to check-in at airport counters
The government will examine the practice of many airlines charging a fee from domestic passengers for check-in at airport counters. On Friday, a passenger took to Twitter to complain about airlines charging a fee for check-in by comparing it to a restaurant charging a customer extra for serving meals on a plate.
‘There are other mountains to climb’: AI CEO-designate Wilson says in farewell note to Scoot colleagues
“…there are other mountains to climb…” That’s how Air India MD & CEO-designate Campbell Wilson has described his decision to quit Scoot and join AI. Wilson said this in an emotional farewell letter to his colleagues at the budget arm of Singapore Airlines (SIA).
Maruti Suzuki finalises site for new manufacturing facility in Haryana; to invest Rs 11,000 crore in first phase
The country's largest carmaker Maruti Suzuki India (MSI) on Friday said it will invest Rs 11,000 crore in the first phase of its new manufacturing facility in Haryana. The company on Friday completed the process of allotment of an 800-acre site at IMT Kharkhoda in Sonipat district with HSIIDC (Haryana State Industrial and Infrastructure Development Corporation Limited), the auto major said in a regulatory filing.
Tesla puts India entry plan on hold after deadlock on tariffs: Sources
Markets come under fag-end selling pressure; sensex falls 137 points
The sensex came under fag-end selling pressure to close in the red for the sixth straight session on Friday as risk-off sentiment prevailed amid unabated selling by foreign institutional investors and concerns over inflation.
Sensex losers and gainers
State Bank, ICICI Bank, NTPC, Airtel and Axis Bank were the top sensex losers. Sun Pharma, M&M, Hindustan Unilever, ITC, and Titan were the top gainers.
Nifty losers and gainers
Hindalco Industries, SBI, JSW Steel, Airtel and ICICI Bank were among the top Nifty losers. Gainers included Tata Motors, Sun Pharma, M&M, Hindustan Unilever and Titan.
Sensex slips 137 points to close at 52,794, Nifty settles at 15,782
Musk says $44-billion Twitter deal on hold
Elon Musk said on Friday his $44-billion acquisition of Twitter Inc was temporarily on hold, citing pending details on spam and fake accounts. "Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," he said in a tweet. Shares of the social media company fell 17% in premarket trading.
Exports up 30.7% to $40.19 billion in Apr; trade deficit widens to $20.11 billion
India's merchandise exports surged 30.7 per cent to $40.19 billion in April on account of healthy performance by sectors like petroleum products, electronic goods and chemicals, even as trade deficit widened to $20.11 billion during the month, the commerce ministry said on Friday.
Most active Nifty stocks
SBI Q4 profit jumps 41% to Rs 9,114 crore on fall in bad loans
The country's largest lender SBI on Friday reported a 41 per cent surge in standalone net profit at Rs 9,114 crore for the fourth quarter ended March 2022, helped by decline in bad loans. State Bank of India (SBI) had registered a profit of Rs 6,451 crore during January-March period of 2020-21, the lender said in a regulatory filing.
European stock markets rebound at open
European stocks rebounded at the open Friday, the end of another volatile week for financial markets, as traders assess the impact of high inflation on the economy.London's benchmark FTSE 100 index climbed 0.8 percent to 7,292.81 points.
South Korean stocks end higher; post third weekly drop on concerns over economy
South Korean shares jumped more than 2% on Friday, after US producer prices in April rose more-than-expected, but the benchmark index posted its third weekly decline due to concerns around policy tightening and economic growth. The benchmark KOSPI rose 54.16 points, or 2.12%, to close at 2,604.24. For the week, it declined 1.5%
Pakistan default risk surges as ousted Khan plans new protests
Pakistan’s new Prime Minister Shehbaz Sharif faces a crucial few weeks when he must end fuel subsidies and convince the International Monetary Fund he’s doing enough to win a bailout, while ousted premier Imran Khan threatens new protests amid soaring inflation.
Tokyo stocks close higher
Tokyo stocks closed higher on Friday as bargain hunting offset worries over inflation and rising interest rates. The benchmark Nikkei 225 index ended up 2.64 percent, or 678.93 points, at 26,427.65, while the broader Topix index climbed 1.91 percent, or 35.02 points, to 1,864.20.
With many days of selling in the domestic and global markets, and after two key inflation data from India and U.S. already discounted, we're seeing some kind of a relief rally.