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Sensex today: Stock Market Highlight Today: Nifty sees selling at high; support intact at


A fag-end sell-off dragged down benchmark indices in a choppy session on Friday, with the Sensex settling 49 points lower. The 30-share BSE Sensex, which traded in the green for most part of the day, came under selling pressure towards the end to close 48.88 points or 0.09 per cent lower at 55,769.23. During the day, it hit a high of 56,432.65 and a low of 55,719.36. The broader NSE Nifty also gave up intra-day gains and dipped 43.70 points or 0.26 per cent to finish at 16,584.30.

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Tech View

Nifty50 on Friday erased intraday gains to end lower, forming a long bearish candle on the daily chart. On the weekly scale, it formed a small bullish candle with a long upper wick, suggesting selling pressure at higher levels. Analysts see support at 16,400 while they see resistance at 17,000 level.

What to expect from week ahead?

Inflation being a key factor will be the central point of all discussions in the coming week as China and United States’ inflation statistics will be released. Another significant event for domestic markets will be the outcome of the RBI MPC meeting. Market participants will try to read between the lines of the RBI’s monetary policy and given the worsening inflation fears, the street expects a 35-50 bps repo rate hike this time. Considering these major events, investors are currently advised to use knee-jerk reactions to, at best, cherry-pick quality stocks in resilient sectors and invest in a staggered manner.

Yesha Shah, Head of Equity Research, Samco Securities

The late sell-off indicates the lack of confidence in the domestic market driven by the concerns over Central Bank policy. While in the global market, the investors were waiting for the release of US job data. The RBI is expected to hike rates by 25bps to 35bps and the Fed by 50bps, but the outlook & changes in the economic growth and inflation will determine the market trend. If the central banks decide on a stringent policy tightening, the market mood can swing bearish.

– Vinod Nair, Head Of Research at Geojit Financial Services

Rupee pares initial gains, settles 3 paise lower at 77.63 against US dollar

  • The rupee pared initial gains and settled 3 paise lower at 77.63 (provisional) against the US dollar on Friday, in line with a muted trend in domestic equities.

  • Forex traders said persistent foreign fund outflows and widening trade deficit weighed on the local unit.

  • At the interbank foreign exchange market, the rupee consolidated in a narrow range. It opened at 77.47 against the greenback and finally settled at 77.63, down 3 paise over its previous close.

  • During the session, the rupee touched an intra-day low of 77.66 and a high of 77.47.

Market Tech View

Nifty erased the opening gains as the benchmark index ended more than 200 points off the day’s high. The trend for the short term, however, remains bullish. On the lower end support is placed at 16400. On the higher end, 16700 may continue to act as crucial resistance on a sustained basis. A close above 16700 may induce a rally towards higher.

Rupak De, Senior Technical Analyst at LKP Securities

The Bank Nifty index formed a bearish engulfing candle on the last of the week indicating stiff resistance on the upside at the 36,000 level. The Bears took over the market and the index ended at a day’s low. The lower-end support zone stands at 35,000-34,800 levels and if fails to hold this level will trigger further selling pressure.

– Kunal Shah-Senior Technical & Derivative Analyst at LKP Securities

Solid cash flow to support ONGC’s higher investments: S&P

Riding on the back of surge in global energy prices, state-owned Oil and Natural Gas Corporation (ONGC) should have a solid base to increase investments over the next 12-18 months on account of healthy earnings, S&P Global Ratings said on Friday. “Improved cash flow continues to support the rating” of ONGC, it said in a statement. While ONGC gets price equivalent to international oil rates for the crude oil it produces from fields such as Mumbai High, the government fixed price of natural gas based on a formula that factors in global indices.

Advance-decline ratio favours sellers

Advance-decline ratio favours sellers

IT only sectoral gainer on NSE

IT only sectoral gainer on NSE

Closing Bell: Sensex pares all gains to end 49 pts lower; Nifty slips below 16,600; UltraTech Cement tanks 5%; RIL up 2%

Closing Bell: Sensex pares all gains to end 49 pts lower; Nifty slips below 16,600; UltraTech Cement tanks 5%; RIL up 2%

Raymond, Ramco Cements, Dalmia Bharat among top 10 losers on NSE

Price as on 03 Jun, 2022 03:26 PM, Click on company names for their live prices.

Global Market Check: US futures decline

  • Futures on the S&P 500 fell 0.3%
  • Futures on the Nasdaq 100 fell 0.5%
  • Futures on the Dow Jones Industrial Average fell 0.2%

Market Today LIVE: Nifty slips below 16,600

Market Today LIVE: Nifty slips below 16,600

Sensex Heatmap: Index off day’s high, trade most gains

Sensex Heatmap: Index off day's high, trade most gains

These stocks moved in tandem with market, rally up to 7%

Price as on 03 Jun, 2022 02:57 PM, Click on company names for their live prices.

Water treatment player VA Tech WABAG has bagged Japan International Cooperation Agency funded 50 million litres per day desalination project worth about Euro 146 Million in Senegal, marking its foray into the West African region, the company said on Friday.

Price as on 03 Jun, 2022 02:11 PM, Click on company names for their live prices.

Market LIVE Updates: India VIX eases over 3% to below 20 level

How Tata group stocks have fared

European shares open higher with eyes on U.S. data

  • European shares opened higher on Friday, with investors awaiting U.S. non-farm payrolls data to make bets about central bank tightening, while also bracing for any change in stance from the European Central Bank at its meeting next week.

  • Broad-based gains saw the pan-European STOXX 600 index rise 0.4% by 0707 GMT, placing it on course to erase almost all its weekly losses. Investors are hoping that any signs of a slowdown in the U.S. employment market could sway the Federal Reserve towards a less aggressive policy path.

India outperformed global markets in CY22 till date: Motilal Oswal Financial

According to the India Strategy – the Eagle Eye Report by Motilal Oswal Financial Services, India outperformed global markets in CY22 till date. Overall, global cyclicals were the top losers in May 2022 while autos and consumer were the only gainers. There was a sharp surge in yields in CY22 till date, as the focus of global central banks shifts towards fighting inflation. 4QFY22 results were in line with BFSI and Commodities driving the earnings. The MOFSL Universe reported sales/EBITDA/PBT/PAT growth of 25%/12%/19%/21% YoY (est. 32%/14%/21%/19%).

Oil futures have retreated from the highs of US$120/bbl as markets perceive a possibility of progressively high prices induced demand destruction. Moreover, supply concerns have eased to an extent after OPEC+ agreed to boost crude output to compensate for a drop in Russian production. Although Europeans have agreed to formalize an import ban against imports of Russian crude and petroleum products through shipping tankers and vessels, oil and product flows through pipelines (roughly 2.3 million barrels a day) will still be allowed, at least for now. This means that at least one third of Russian energy exports will be making it through to Europe, a significant reduction, but by no means a total ban. The EU will seek to restrict 90% of Russian crude imports by year-end.

– Hitesh Jain, Lead Analyst – Institutional Equities, YES Securities

Market LIVE Updates: Power index tanks nearly 2%; Adani Green worst loser

Market LIVE Updates: Power index tanks nearly 2%; Adani Green worst loser

Jefferies on TCI Express: Maintain Buy, with a target price of Rs 3200

INOX WIND: Co completes allotment of equity shares and convertible warrants worth Rs 402.50 crore; stock jumps 4%

Price as on 03 Jun, 2022 11:36 AM, Click on company names for their live prices.

Market LIVE Updates: Castrol India rises after EV mobility solutions deal with Jio-bp, MG Motor

Price as on 03 Jun, 2022 11:35 AM, Click on company names for their live prices.

MTAR Tech zooms 5% as firm to buy Gee Pee Aerospace for Rs 9 crore

Shares of MTAR Technologies jumped 4.9 per cent in early trade on Friday as the company’s board said it has approved the acquisition of shares of Gee Pee Aerospace & Defence Pvt. Ltd., an MSME company, for a consideration of Rs 8.82 crore. “The management is currently in discussion with the shareholders of Gee Pee Aerospace & Defence Pvt. Ltd. on the terms and conditions,” media reports quoted the company as saying.

STOCK IN FOCUS: M&M FINANCIAL

  • In May 2022, the business of the company continued its momentum with a disbursement of approximately Rs 2,973 crore delivering a 272% YoY growth. The YTD disbursements at approximately Rs 5,686 crore, registered a YoY growth of 169%.

  • The collection efficiency was at 95% for May 2022 in comparison to a subdued CE of 67% for May 2021 which was affected due to Covid-related lockdowns. The CE is in line with pre-Covid levels.

  • With momentum in collections witnessed so far, we expect a lower volatility on Stage 3 assets during Q1 FY 2023.

  • The company continued to hold adequate liquidity buffer of approximately Rs 8,775 crore as on 31st May 2022 which covers ~3 months funds requirement.

Market LIVE Updates: Mindtree, L&T Tech, Infosys among top gainers from IT pack

Price as on 03 Jun, 2022 11:00 AM, Click on company names for their live prices.

JUST IN: S&P Global India May Services OMI at 58.9, highest since April 2011

RIL market cap crosses Rs 19 lakh crore mark

RIL market cap crosses Rs 19 lakh crore mark

A portion of Deepak Nitrite’s chemical manufacturing facility in Vadodara’s Nandesari industrial area was gutted in a major fire on Thursday evening. Seven workers have been hospitalised after inhaling smoke, while some 700 people living in the vicinity of the factory have been shifted to safer places, officials said.

Price as on 03 Jun, 2022 10:07 AM, Click on company names for their live prices.

Market LIVE Updates: Aether Industries shares locked in upper circuit mins after listing at 10% premium

Market LIVE Updates: Aether Industries shares locked in upper circuit mins after listing at 10% premium

Is the ongoing pull back in markets, globally, a bear market rally or the beginning of another bull phase? We will know the answer to this question only later. Meanwhile investors can look at stocks leading the rally now and try to anticipate segments that will join the rally if this uptrend sustains. The sharp upmove in Nasdaq is likely to have a rub on effect on Indian IT stocks too. This beaten down segment, depressed by shorts and sustained FPI selling, is staging a comeback supported by strong fundamentals. Export segments like textiles are staging a comeback. Financials have strong fundamentals and, therefore, can be expected to join the rally soon.

– Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

LISTING ALERT: Aether pre-open indicative price

  • BSE: 706.15 (10% up)
  • NSE: 704. (10% up

Market LIVE Updates: BSE Smallcap index rises 0.75% but lags benchmark Sensex

Market LIVE Updates: BSE Smallcap index rises 0.75% but lags benchmark Sensex

Vodafone Idea, YES Bank, Adani Power among most active stocks on NSE

Price as on 03 Jun, 2022 09:20 AM, Click on company names for their live prices.

Sea of green… all indices trade on a firm note

Sea of green... all indices trade on a firm note

Sensex Heatmap: 25 of 30 stocks trade in the green

Sensex Heatmap: 25 of 30 stocks trade in the green

OPENING BELL: Sensex climbs 500 points, Nifty tops 16,750; HCL Tech, Infosys rise 2% each

Pre-open session: Sensex gains 300 points, Nifty tops 16,700

Oil steady on doubts OPEC+ can make up Russian deficit

Oil prices were roughly unchanged on Friday, clinging to gains made in the previous session on doubts that producers belonging to OPEC+ can hike their crude output enough to make up for lost supply from Russia. US West Texas Intermediate (WTI) crude futures were up 1 cent at $116.88 a barrel at 0112 GMT, while Brent crude futures were up 7 cents at $117.68 a barrel.

SGX Nifty signals a gap-up start

Nifty futures on the Singapore Exchange traded 204 points, or 1.23 per cent, higher at 16,814, signaling that Dalal Street was headed for a gap-up start on Friday.

Tech View: Nifty50 sets eyes on 16,750 level

Nifty50 on Thursday closed above the 16,600 level, forming a bullish candle on the daily chart. Analysts said it may face some resistance around its 200-day EMA, which is placed near the 16,750 zone while they continue to see the 16,400 level to act as an immediate support zone.

Japan stocks open higher tracking US gains

Tokyo stocks opened higher on Friday, extending rallies on Wall Street ahead of US jobs data due later in the day. The benchmark Nikkei 225 index was up 0.92 percent, or 251.42 points, at 27,665.30 in early trade, while the broader Topix index advanced 0.60 percent, or 11.52 points, to 1,937.91.

Hong Kong, China market closed for public holiday

Financial markets in China, Hong Kong, Taiwan and Thailand are closed on Friday for public holidays.

US stocks settle higher

Stocks on Wall Street overcame a shaky start to close broadly higher Thursday, as the major indexes more than made up for their losses earlier in the holiday-shortened week. The S&P 500 rose 1.8%, with more than 85% of the stocks in the benchmark index notching gains. The Dow Jones Industrial Average rose 1.3%, while the Nasdaq climbed 2.7%.

Rupee slips 10 paise to 77.60 against dollar

The rupee depreciated by 10 paise to close at 77.60 against the US dollar on Thursday, even as oil prices eased and domestic equities settled on a positive note. At the interbank foreign exchange market, the rupee consolidated in a narrow range. It opened lower at 77.61 against the greenback and shuttled between 77.63 and 77.54 It finally finished at 77.60, down 10 paise over its previous close of 77.50.

Sensex, Nifty on Thursday

The Indian stock markets’ benchmark Sensex surged by 437 points on Thursday led by strong buying support in the heavyweights Reliance Industries Limited and Tata Consultancy Services. The 30 stock S&P BSE Sensex surged 436.94 points or 0.79 per cent to 55,818.11 points against its previous day’s close at 55,381.17 points. The broader Nifty 50 of the National Stock Exchange jumped 105.25 points or 0.64 per cent to 16,628 points against its previous day’s close at 16,522.75 points.

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