Benchmark indices fell for the third straight day on Tuesday, with the Sensex falling over 153 points amid largely weak global markets as investors remained cautious ahead of the crucial Federal Reserve meeting outcome. Unabated foreign fund outflows also continued to weigh on the domestic equity markets. The 30-share BSE benchmark dropped 153.13 points or 0.29 per cent to settle at 52,693.57. During the day, it tumbled 387.22 points or 0.73 per cent to 52,459.48. The NSE Nifty declined by 42.30 points or 0.27 per cent to end at 15,732.10.
!1 New UpdateClick here for latest updates
Gold tumbles by Rs 547; silver plunges Rs 864
Gold prices in the national capital on Tuesday tumbled by Rs 547 to Rs 50,471 per 10 grams amid rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 51,018 per 10 grams.Silver also dipped by Rs 864 to Rs 59,874 per kg from Rs 60,738 per kg in the previous trade.Staging a marginal recovery from its lifetime low, the rupee inched up 1 paisa to close at 78.03 (provisional) against the US dollar on Tuesday.
Nifty50 on Tuesday formed an ‘Inverted Hammer’ candle on the daily chart, which at many a time is formed around bottoms, as traders remain sceptical about the initial pullback attempts, said analysts. Analysts said the level of 15,600-700 remains a strong support for the index going ahead. They see resistance at 16,850 level.
Bajaj Auto: Shekhar Bajaj resigns as Non-executive Director due to health reasons
Venu Srinivasan, Ravindra Dholakia, Pankaj Patel and Anand Mahindra join RBI board as directors
Markets are witnessing pressure ahead of the crucial US Fed meet outcome scheduled on Wednesday. Given the inflation data at a 40-year high in the US, expectations of 75 bps hike have increased. We thus reiterate our cautious view on markets and suggest limiting leveraged position ahead of the event.
– Ajit Mishra, VP – Research, Religare Broking
Tech View: Bank Nifty
Kunal Shah-Senior Technical & Derivative Analyst at LKP Securities
Nifty tech view
— Rupak De, Senior Technical Analyst at LKP Securities
Domestic market restrained from heavy sell-off as CPI data moderated on an MoM basis and this had a calm down effect amidst global volatility. However, elevated WPI data continued to dominate the broad market, which is cautious awaiting tomorrow’s outcome of Fed policy. Earlier the global market was anticipating a 50bps hike but now is worried about a higher rate hike due to persistent US inflation.
– Vinod Nair, Head Of Research at Geojit Financial Services
Sector Watch: Realty, Metal indices gain the most; auto worst loser
Sensex Heatmap: 16 of 30 index stocks close in the green even as index settled lower
Closing Bell: Sensex extends losing run to 3rd day, ends 153 pts lower; Nifty slips below 15,750; HPCL, Bajaj Auto tumble 5% each
LIC has increased its stake in non-banking finance company Capri Global Capital, to over 7 per cent from 5 per cent earlier, during the February-June period with an investment of over Rs 221 crore, the state-owned insurer said on Tuesday.
Price as on 14 Jun, 2022 03:10 PM, Click on company names for their live prices.
JUST IN: Bajaj Auto defers buyback proposal; stock drops most in 19 months
Price as on 14 Jun, 2022 02:55 PM, Click on company names for their live prices.
Crude oil futures gain on spot demand
Crude oil prices on Tuesday rose by Rs 58 to Rs 9,310 per barrel as participants widened positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for July delivery traded higher by Rs 58 or 0.63 per cent at Rs 9,310 per barrel in 3,894 lots. Analysts said the raising of bets by participants kept crude oil prices higher in futures trade. Globally, West Texas Intermediate crude oil was up by 0.80 per cent at USD 121.90 per barrel, and Brent crude traded 0.87 per cent higher at USD 123.33 per barrel in New York.
Dr Reddy’s Laboratories on Tuesday said it has launched Sorafenib tablets, used in the treatment of various cancers, in the US market after getting approval from the US Food and Drug Administration (USFDA).
Price as on 14 Jun, 2022 02:21 PM, Click on company names for their live prices.
Market LIVE Updates: Nifty stocks trading at 52-week lows
Rising interest rates, high inflation, the war in Ukraine and a slowdown in China’s economy have led investors to reconsider what they’re willing to pay for a wide range of stocks, from high-flying tech companies to traditional automakers. Big swings have become commonplace and Monday was no exception.
Global Market Updates: Japan’s Nikkei falls for 3rd day amid U.S. inflation, China COVID worries
The Nikkei closed 1.32% lower at 26,629.86, but after earlier sinking as much as 2.19%, the lowest since May 19. The broader Topix slid 1.19% to 1,878.45.
Although a favourite of long-term investors for compounding wealth consistently over the last few decades, the stock of Asian Paints has hit a rough patch. The Nifty stock slipped another 3 per cent on Tuesday morning to hit a 52-week low of Rs 2,585.05. The stock is now down over 22 per cent year-to-date (YTD) and 11 per cent in the last one-year period. For investors of Asian Paints, there are two major headaches – rising crude oil prices and Grasim’s plan to disrupt the paint industry in Jio-style.Although a favourite of long-term investors for compounding wealth consistently over the last few decades, the stock of Asian Paints has hit a rough patch. The Nifty stock slipped another 3 per cent on Tuesday morning to hit a 52-week low of Rs 2,585.05. The stock is now down over 22 per cent year-to-date (YTD) and 11 per cent in the last one-year period. For investors of Asian Paints, there are two major headaches – rising crude oil prices and Grasim’s plan to disrupt the paint industry in Jio-style.
WPI inflation spikes to record 15.88% in May on costlier food items, crude oil
- Wholesale price-based inflation rose to a record high of 15.88 per cent in May on rising prices of food items and crude oil. The Wholesale Price Index-based inflation was 15.08 per cent in April and 13.11 per cent in May last year.
- “The high rate of inflation in May, 2022 is primarily due to rise in prices of mineral oils, crude petroleum & natural gas, food articles, basic metals, non-food articles, chemicals & chemical products and food products etc. as compared to the corresponding month of the previous year,” the commerce and industry ministry said in a statement.
- The WPI inflation has remained in double digit for the 14th consecutive month since April last year and has been in the upper trajectory for three straight months.
Sensex Today LIVE: Index off day’s high
India’s job market looks optimistic with 63 per cent of companies planning to add more staff in next three months, in a bid to speed up the recovery process and sustain the economic growth, a survey said on Tuesday.
Price as on 14 Jun, 2022 12:56 PM, Click on company names for their live prices.
Dynamatic Technologies rallies 8% as firm wins escape hatch door contract for Airbus A220
Shares of Dynamatic Technologies rallied around 8 per cent to a high of Rs 2038.65 in Tuesday’s trade after the company won the contract to manufacture escape hatch doors for Airbus A220 aircraft. In a press release, Udayant Malhoutra CEO & Managing Director of Dynamatic Technologies said, “We are delighted to have been awarded this contract. Dynamatic has been working with Airbus since 2006 on flight-critical wing sub-assemblies and are now moving onto the fuselage.”
Stock Market LIVE Updates: Amid firm market mood, gas & petroleum stocks under pressure
Price as on 14 Jun, 2022 12:02 PM, Click on company names for their live prices.
“My view is that we should basically be preparing for zero returns even over the next 12 months,” Mahesh Nandurkar, MD & Head of Research, Jefferies India, said. This, despite the Nifty plunging below the 16,000 mark on Monday. The equity strategist doesn’t find the selloff unexpected. “I think this whole year is going to be a weak year from the returns perspective and while the Nifty has corrected to less than 16,000, I really do not think that we will still be making positive returns from here on in the rest of the year,” he told ET Now.
Stock Market LIVE Updates: FII net long in index futures lowest at 12%. This is what it dictates!
#ETNOWInsight | FII net long in index futures lowest at 12%. @JayeshKhilnani explains what this indicates #Nifty… https://t.co/PwaF1jtxyC
— ET NOW (@ETNOWlive) 1655186240000
GR Infra drops 23% in two sessions after CBI raids
Shares of GR Infraprojects continued to bleed on Tuesday amid reports of CBI raids at the company’s various offices amid allegations of corruption and financial irregularities. According to the reports, CBI has conducted searches at several locations of GR Infraprojects in Shillong, Guwahati, Gurgaon, and Bangalore. The raids were conducted in connection with alleged irregularities in a national road highway project in Assam, as per the reports. CBI has arrested five people including National Highways Authority of India (NHAI) officials and GR Infra employees.
Stock Market LIVE Updates: Nifty IT surges over 1%; check out top performers
These stocks move in line with market mood, gain up to 7%
Price as on 14 Jun, 2022 10:47 AM, Click on company names for their live prices.
Stock Market LIVE Updates: Index erases all losses, trades higher
Stock Market LIVE Updates: Total to acquire 25% in Adani New Industries (ANIL) from Adani Enterprises
Price as on 14 Jun, 2022 10:16 AM, Click on company names for their live prices.
Bitcoin vs Apple stock: Which is better?
Beyond all the futuristic stuff crypto sells, if one has Apple shares today vs Bitcoin as an asset class, with Appl… https://t.co/QRarfXA9ab
— Nikhil Kamath (@nikhilkamathcio) 1655178274000
Stock Market LIVE Updates: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
The sharp decline in the US markets was triggered by a WSJ article indicating a 75 bp hike by the Fed in its Wednesday meeting. Now, the majority view is that the Fed will have to hike aggressively with a couple of 75 bp rate hikes to contain inflation and establish its credibility.
CPI inflation in India in May coming at 7.04%, down from 7.8% in April, is good news that inflation is not getting out of control. So, RBI need not hike aggressively like the Fed.
Financials, particularly leading private sector banks, have the potential to give market beating returns for investors with a one-year perspective. Defenses like leading FMCGs are safe bets.
Majority of the crypto tokens were in deep red. Bitcoin, Ethereum, BNB and Tron plunge between 10-17 per cent. However, a mild recovery was witnessed in Polkadot and Avalanche after solid hammering. The global cryptocurrency market cap was trading sharply lower at the $908.51 billion mark, dropping as much as 11 per cent in the last 24 hours. However, the total cryptocurrency trading volume zoomed about 64 per cent to $153.34 billion.
Stock Market LIVE Updates: Forex Market Alert
Rupee inches 2 paise higher to 78.02 against US dollar in early trade
Stock Market LIVE Updates: Voda Idea, RBL Bank, YES Bank among most active stocks on NSE
Price as on 14 Jun, 2022 09:28 AM, Click on company names for their live prices.
Sector Watch: FMCG only sectoral loser on NSE
OPENING BELL: Sensex sheds 150 points, Nifty below 15,750; TechM drops 2%, Airtel gains 2%
Crypto Market Watch: Bitcoin last down 5.3% at $21,252; Ether down 9.4% at $1,095
Oil bounces around as tight supply offsets recession fears
Oil prices seesawed in positive and negative territory on Tuesday, holding up despite recession fears and potential new COVID-19 curbs in China that could dampen demand as the market remains tightly supplied. U.S. West Texas Intermediate (WTI) crude eased 4 cents to $120.89 a barrel at 0156 GMT, while Brent crude futures dipped 6 cents to $122.21 a barrel.
Stock Market LIVE Updates: Asian stocks slide as recession fears grow
Asian shares tumbled on Tuesday after Wall Street hit a confirmed bear market milestone and bond yields struck a two-decade high on fears aggressive U.S. interest rate hikes would push the world’s largest economy into recession. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.9%.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 76 points, or 0.48 per cent, lower at 15,702.50, signaling that Dalal Street was headed for a negative start on Monday.
Stock Market LIVE Updates: Q4 results today
ITDC,Nagarjuna Fertilizers and Chemicals and OPTO CIRCUITS are among companies which will announce their quarterly earnings today.
Tech View: Defending 15,670 a must to avoid Nifty50 weakness
Nifty50 on Monday formed a bearish candle on the daily chart, with a long lower wick, suggesting recovery from intraday low of 15,684. The index has been seeing a strong support near 15,670 since March and analysts see it as make-or-break level. A breach of it may bring downside towards 15,500-400, they warned.
Tokyo stocks open lower on US rate hike fears
Tokyo stocks opened lower on Tuesday, extending a rout on Wall Street, as investors bet on more aggressive US Fed rate hikes to address inflation following key price data. The benchmark Nikkei 225 index was down 1.56 percent, or 419.93 points, at 26,567.51 in early trade, while the broader Topix index was down 1.38 percent, or 26.24 points, at 1,874.82.
Stock Market LIVE Updates: S&P 500 confirms bear market as recession worry grows
US equities tumbled on Monday, with the S&P 500 confirming it is in a bear market, as fears grow that the expected aggressive interest rate hikes by the Federal Reserve would push the economy into a recession. The S&P 500 lost 149.91 points, or 3.85%, to end at 3,750.95 points, while the Nasdaq Composite lost 526.82 points, or 4.65%, to 10,813.20. The Dow Jones Industrial Average fell 857.70 points, or 2.73%, to 30,535.09.
Rupee slips 11 paise to 78.04 against US dollar
Dropping for the third straight session, the rupee depreciated by 11 paise to close at a fresh lifetime low of 78.04 against the US dollar on Monday as a global market meltdown and stronger greenback overseas weighed on investor sentiment.
Stock Market LIVE Updates: Sensex, Nifty on Monday
The BSE benchmark Sensex plunged over 1456.74 points or 2.68 per cent to the sub-53,000 level and the Nifty50 tanked over 427.40 points or 2.6 per cent, the lowest since May 19 to close below 15,800 levels.