Sensex Today Live Updates: Benchmark indices pared early gains and declined for the fourth day running on Wednesday, with the Sensex falling 276.46 points amid selling in index majors Infosys and Reliance Industries. Foreign institutional investors remaining in selling mode and jump in crude prices also weighed on sentiment. Despite a firm start, the 30-share BSE Sensex failed to carry forward the momentum and ended at 54,088.39, lower by 276.46 points or 0.51 per cent. During the day, it tumbled 845.55 points or 1.55 per cent to 53,519.30.
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US stocks open lower as inflation data stokes rate hike concerns
- The Dow Jones Industrial Average fell 37.50 points, or 0.12%, at the open to 32,123.24.
- The S&P 500 opened lower by 10.97 points, or 0.27%, at 3,990.08, while the Nasdaq Composite dropped 92.10 points, or 0.78%, to 11,645.57 at the opening bell.
BITCOIN DROPS TO $29,011.10, LOWEST SINCE JUNE 2021
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Market Movers: Adani Wilmar rebounds after 35% fall in 8 sessions
- Investors returned to lap up the shares following a correction in the stock. In eight sessions, wherein it touched the lower circuit for six, shares of Adani Wilmar tanked nearly 35 per cent.
- “Adani Wilmar aspires to become a leading packaged food and FMCG company in India and it gets significant benefit from its parent Adani Group and JV partner Wilmar International.
- The stock ended 5 per cent higher at Rs 612.
Nifty50 on Thursday fell for the fourth straight session and formed a Hammer-like candle on the daily chart that had a long lower wick, reflecting the intraday recovery. Such a candle has a bullish connotation if it is followed by a positive close in the next session, said analysts, who see immediate resistance in the 16,20-350 range and index support at 16,000.
Why are paint stocks falling?
— Antu Thomas, Senior Research Analyst at Geojit Financial Services
Investors continue to remain wary despite global markets trading in green due to drop in domestic investors confidence & FII selling. The market turned volatile waiting for the release of April US inflation data, which is expected to cool down marginally. Inflation will continue to be elevated but the chance of major reactions is low because it has been factored in by the markets. The major determinant for market direction would be the pace of decline in inflation in response to the Fed measures.
– Vinod Nair, Head of Research at Geojit Financial Services
Participants are closely eyeing the US inflation data for cues and we’ll see the reaction in early trades on Thursday. Though the Nifty index has rebounded after penetrating the crucial support zone of 16,000 for a brief, we believe banking holds the key to further rebound. Keeping all in mind, we recommend keeping a cautious stance and suggest preferring hedged positions.
– Ajit Mishra, VP – Research, Religare Broking
Tech view by Rupak De, Senior technical analyst, LKP Sec
Nifty recovered smartly from the day’s low before closing with a marginal loss. On the lower end, it found support at 16,000 as it closed at 175 points off the day’s low. On the daily chart, a large lower wick indicates buying at the lower level. On the higher end, the Nifty is likely to move towards 16400. On the lower end, support is seen at 16,100/15,950.
Indices displayed extreme volatility today ahead of the CPI & IIP data this week. While we did see a sharp recovery in indices during afternoon trade, the market breadth was very weak with several stocks in the broader market taking a big knock-on selling pressure as the small-cap index lost 3% today.
– S Ranganathan, Head of Research at LKP Securities
Sector Watch: Realty, private banks gain in a falling market
Top Nifty50 performers & laggards
Sensex Heatmap: Only 10 of 30 index stocks end in the green
CLOSING BELL: Sensex slips for 4th day, ends 276 pts lower; Nifty below 16,200; IB Housing plunges 21%, Ruchi Soya 10%
STOCK FOCUS: Ruchi Soya shares falls most in four weeks
Price as on 11 May, 2022 03:08 PM, Click on company names for their live prices.
MS cuts India’s FY23 growth forecast
Morgan Stanley cuts India's FY23 growth forecast to 7.6% from 7.9%
— Ajaya Sharma (@Ajaya_buddy) 1652259964000
Capital expenditure of tyre makers to rise to Rs 5,000 crore this fiscal: CRISIL
The capital expenditure of tyre makers is expected to increase to around Rs 5,000 crore this fiscal on the back of improving demand, as against around Rs 3,700 crore annually in the preceding two fiscals, according to a CRISIL report. The demand is likely to be driven by segments such as replacement, commercial and passenger vehicles (CVs and PVs), along with exports, the credit ratings agency said, adding that credit profiles of tyre makers are expected to remain “stable”.
Top 5 gainers on NSE in an otherwise weak market
Price as on 11 May, 2022 02:24 PM, Click on company names for their live prices.
Delhivery IPO subscription status: Issue receives 4% bids so far on Day 1
European stocks extend rebound ahead of U.S. inflation data
European shares rose on Wednesday, extending a rebound from two-month lows hit earlier this week, as investors awaited U.S. consumer price data for cues on whether inflation was peaking. The continent-wide STOXX 600 index rose 0.4% by 0715 GMT, with real estate leading morning gains. Data is expected to show U.S. consumer price index (CPI) cooled to 0.2% in April from 1.2% in March. Surging inflation has raised concerns that the Federal Reserve will raise interest rates aggressively.
NIFTY SLIPS BELOW 16,000 FOR THE FIRST TIME SINCE MAR 9
The deteriorating sentiment in equity markets is hurting the prospects of listing-bound companies and LIC is no exception. The insurance behemoth is signaling at a discounted listing, if one goes by the grey market premium. In the unofficial market, LIC is exchanging hands at a discount of Rs 20 per share over its issue price of Rs 949, which is merely Rs 25 away from the discount offered to retail bidders. LIC’s premium in the grey market dropped from Rs 100 to Rs 10 on Tuesday and then turned negative on Wednesday, just a day before allotment.
Market LIVE Updates: IB Housing, Welspun India, JSW Energy tank up to 17%
Price as on 11 May, 2022 01:03 PM, Click on company names for their live prices.
- Infosys rose nearly 15 per cent in a year compared to 10 per cent rise seen in Nifty50 but has been under pressure so far in 2022, data showed. The IT bellwether has fallen over 18 per cent since April, and over 20 per cent from its 52-week high of Rs 1,953 recorded on 17 January 2022 to Rs 1,553 recorded on 10 May.
- Slowing global economic growth and high attrition rates that will impact margins are some of the factors which are weighing on IT stocks, suggest experts. If the stock manages to hold onto crucial support levels of Rs 1,500, then a bounce back towards Rs 1,640-1,680 is possible, suggest experts.
BSE SMALLCAP index tanks over 3%, underperforms benchmark Sensex
Sensex Today LIVE: Index tanks 600 points on losses in Infosys, RIL
Adani Ports board meeting rescheduled to May 24; earnings were to come today
Adani Ports and SEZ has informed BSE that the meeting of the Board of Directors of the company is scheduled on May 24 to consider and approve the audited financial results for the quarter and year ended 31st March, 2022 and to recommend divided on equity shares, if any. The stock traded nearly 2% down.
Market LIVE Updates: Asahi Songwon board to consider buyback & dividend on May 19
Price as on 11 May, 2022 12:31 PM, Click on company names for their live prices.
Suzuki Motor FY23 sales in India are expected to rise 11% YoY: Informist
Price as on 11 May, 2022 12:21 PM, Click on company names for their live prices.
KALYAN JEWELLERS Q4 EARNINGS
- PAT: Rs 72 crore vs Rs 74 crore YoY
- Revenue: Rs 2857 crore vs Rs 3057 crore YoY
- Ebitda: Rs 218 crore vs Rs 288 crore YoY
New investor? Here’s what you can do to navigate market volatility
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Alembic Pharmaceuticals Ltd on Wednesday said it has received final approval from the US health regulator for its generic version of Arformoterol Tartrate inhalation solution indicated for long-term treatment of bronchoconstriction in patients with chronic obstructive pulmonary disease.
Price as on 11 May, 2022 12:01 PM, Click on company names for their live prices.
Venus Pipes & Tubes IPO sails through with 90 mins
The Rs 165.42 crore initial public offering of Venus Pipes and Tubes sailed through within the first 90 minutes of the bidding process on the first day itself. The issue, which opened for subscription on Wednesday, May 13, can be subscribed till Friday, May 13. The company is selling its shares in a lot size of 46 equity shares in a price range of Rs 310-326. According to the data from BSE, the investors made bids for 39,83,186 equity shares or 1.12 times compared to the 35,51,914 equity shares offered for the subscription by 11.45 am on Wednesday, May 11.
Market LIVE Updates: BSE Bank index defies market mood, trades in the green
The BSE Bankex was among the only two sectoral gainers at this hour. The index traded in the green as investors lapped up shares of largecap banking counters. Kotak, Axis, ICICI and HDFC Bank were the only gainers from the pack while BoB, Federal Bank and IndusInd Bank were the top losers.
Jhunjhunwala’s pharma stock bet tanks 19% after poor Q4 numbers
Shares of Dishman Carbogen Amcis tumbled more than 19 per cent on Wednesday as the company reported negative bottomline in the quarter ended March 2021 quarter. The pharmaceutical player’s net loss narrowed to Rs 44.62 crore in the March 2022 quarter. The company reported a net loss of Rs 135.02 crore in the same quarter previous year. In December 2021 quarter the company clocked a net profit of Rs 35.38 crore
Texmaco Rail & Engineering bags order for 20.067 wagons valuing Rs 6,450 crore. The order is to be executed over a period of thirty-nine months against the recent Railway tender for wagons issued by the Indian Railways.
Price as on 11 May, 2022 10:44 AM, Click on company names for their live prices.
Sensex today LIVE: Index extends slides, tumbles 600 points
The pull from the 15800 region has ensured that the 16400 emerged powerful enough to reject relief rallies twice in as many days. Meanwhile, a bearish continuation pattern has also formed, making it crucial for Nifty to float above 16200 for most part today, to utilize the oversold conditions, for a push above 16400,but its chances look low though. Else, brace for a 15900 move.
– Anand James – Chief Market Strategist at Geojit Financial Services
- Shares of Vodafone Idea (Vi) jumped over 3% in early Wednesday trade, a day after the telco’s net loss for the fiscal fourth-quarter beat estimates while narrowing to Rs 6,544.9 crore from Rs 7,234.1 crore on a sequential basis, supported by November tariff hikes, that helped average revenue per user (ARPU) grow, and a one-time gain.
- Vi shares were up 3.3% at Rs 9.03 on BSE in early trade today. The telco’s quarterly revenue increased 5.4% sequentially to Rs 10,239.5 crore in the January-March quarter, while ARPU rose to Rs 124 from Rs 115 in the previous quarter.
Top 5 gainers from the real estate pack
Price as on 11 May, 2022 10:20 AM, Click on company names for their live prices.
The issue is open for subscription till Friday, May 13. Investors can bid a minimum of 30 equity shares and in multiples thereafter. The net proceeds from the fresh shares will be utilized towards the company’s organic and inorganic growth initiatives via acquisitions and other strategies. After the recent rout in startup and platform stocks, brokerage firms say investors should take a long-term call on such counters. However, those recommending to avoid the IPO are concerned about lofty valuations, mounting losses, negative cash flow and rising operational costs due to rise in fuel prices.
Sensex today LIVE: Index down nearly 500 points from day’s high
After opening in the green, BSE barometer Sensex reversed gains to trade in the red amid losses in Infoys, RIL, HUL and Asian Paints.
Three trends stand out in the ongoing bear phase in the market. One, India is outperforming: while Nasdaq and S&P 500 are down 27% and 17% from the peak, Nifty is down only 12%. Two, large-caps are outperforming mid-and small-caps: Small-cap and Mid-cap indices are down 24% and 17% respectively from the peak while Nifty is down only 12%. Three, value is outperforming growth. Sustained buying by DIIs and retail investors is imparting resilience to the market even when FPIs continue to be in the sell mode. An unhealthy trend in the market is retail investors chasing low-grade cheap stocks. The only sensible strategy in this highly volatile environment is to buy small quantities of high quality stocks for the long-term and refrain from speculation.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Voda Idea, Adani Power, YES Bank among most active stocks on NSE
Price as on 11 May, 2022 09:23 AM, Click on company names for their live prices.
Sector Watch: NIFTY METAL rebounds, rises over 1%
Sensex Heatmap: 19 of 30 index stocks in the green in opening deals
- TOP GAINERS: Tata Steel, TechM, HDFC
- TOP LOSERS: Asian Paints, L&T, HUL
OPENING BELL: Sensex gains 150 points, Nifty50 nears 16,300; Gujarat Gas jumps 6%, Adani Power drops 4%
Pre-open session: Sensex gains 180 points, Nifty above 16,250
Q4 results today
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 43 points, or 0.27 per cent, lower at 16,167.50, signaling that Dalal Street was headed for a negative start on Wednesday.
Tech View: Nifty50 bulls struggle to make comeback
Nifty50 on Tuesday fell for the third day and continued with its lower high-low formations. The index made an indecisive candle on the daily chart, with a long upper wick, as the bears thwarted the bulls’ attempt to make a comeback. Nifty50 is currently placed near the 78.60 per cent of Fibonacci retracement while any further sell-off could drag it towards the psychological mark of 16,000 in the near future. The unfilled gap of 16,480-16,650 is the sturdy wall for the bulls.
Hong Kong stocks open slightly lower
Hong Kong equities opened slightly lower on Wednesday, steadying after losses from Wall Street’s rout on fears of economic risks from surging inflation. The Hang Seng Index dipped 0.62 percent at open, or 121.89 points, to 19,511.80. The Shanghai Composite Index rose 0.32 percent, or 10.19 points, to 3047.76, while the Shenzhen Composite Index on China’s second exchange rose 0.61 percent, or 11.62 points, to 1,906.01.
Australian shares dragged by mining, gold firms
Australian shares fell for a fourth straight day on Wednesday, with mining and gold stocks leading the declines, as caution around U.S. inflation data amid risks of sharp interest-rate hikes and a global recession weighed on equities. The S&P/ASX 200 index slid 0.5% to 7,018.80 by 0035 GMT, after having ended 1% lower on Tuesday.
Tokyo stocks open lower after mixed US close
Tokyo stocks opened lower on Wednesday after a mixed close on Wall Street, with investors awaiting Toyota’s earnings report due later in the trading day. The benchmark Nikkei 225 index was down 0.60 percent, or 158.31 points, at 26,008.79 in early trade, while the broader Topix index was off 0.54 percent, or 10.00 points, at 1,852.38.
Oil falls on uncertainty over Russian energy embargo by EU
Oil edged lower in early Asian trade on Wednesday, sustaining the previous session’s weakness that was caused by risks to demand from an economic recession and on uncertainty about an embargo on Russian oil by the European Union. Brent crude was down 86 cents, or 1.1%, at $101.60 a barrel by 0002 GMT. U.S. West Texas Intermediate crude fell 80 cents, or 0.8%, to $98.96 a barrel.
S&P500, Nasdaq end higher in choppy session
The S&P 500 and Nasdaq ended higher on Tuesday, with big growth shares rising after the previous day’s selloff as Treasury yields tumbled. The Dow Jones Industrial Average fell 84.96 points, or 0.26%, to 32,160.74, the S&P 500 gained 9.81 points, or 0.25%, to 4,001.05 and the Nasdaq Composite added 114.42 points, or 0.98%, to 11,737.67.
Rupee recovers 10 paise from record low, ends at 77.34 against dollar
Snapping two days of sharp losses, the rupee appreciated 10 paise to end at 77.34 against the US dollar on Tuesday, supported by a rebound in regional currencies and fall in crude oil prices. Forex traders said the RBI may have also intervened after the domestic unit plunged to its lifetime low in the previous session. The rupee had slumped 54 paise to close at a record low of 77.44 against the US dollar on Monday.
Sensex, Nifty on Tuesday
The Indian stock markets’ key indices, Sensex and Nifty, closed in the red for the third straight session on Tuesday dragged by nearly 7 per cent slump in Tata Steel. The 30 stock S&P BSE Sensex closed 105.82 points or 0.19 per cent down at 54,364.85 points against its previous day’s close at 54,470.67 points. The broader Nifty 50 of the National Stock Exchange fell 61.80 points or 0.38 per cent to 16,240.05 points against its previous day’s close at 16,301.85 points.