Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic stock markets closed Tuesday’s session with losses, after dancing between bulls and bears for most of the day. S&P BSE Sensex slipped 153 points or 0.29% to settle at 52,693 while the NSE Nifty 50 shed 43 points or 0.27% to finish the day’s trade at 15,732. Bank Nifty dropped 94 points to end at 33,311 while India VIX fell 2.15% and gave up 22 levels. Bajaj Auto was the worst-performing Sensex stock, falling 4.71%, followed by IndusInd Bank, Tech Mahindra, and Reliance Industries. Up with gains were NTPC, Ultratech Cement, Bharti Airtel, and M&M.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
Bears continued to dominate Dalal Street on Tuesday, as headline indices marked the third day of downward movement. S&P BSE Sensex slipped 153 points or 0.29% to settle at 52,693 while the NSE Nifty 50 shed 43 points or 0.27% to finish the day's trade at 15,732. Both Sensex and Nifty traded volatile throughout the day. Bajaj Auto was the worst-performing Sensex stock, falling 4.71%, followed by IndusInd Bank, Tech Mahindra, and Reliance Industries. Up with gains were NTPC, Ultratech Cement, Bharti Airtel, and M&M. Bank Nifty dropped 94 points to end at 33,311 while India VIX fell 2.15% and gave up 22 levels.
Sensex and Nifty closed with losses on Tuesday. BSE Sensex slipped 153 points or 0.29% to settle at 52,693 while the NSE Nifty 50 shed 43 points or 0.27% to finish the day's trade at 15,732. bank Nifty dropped 94 points to end at 33,311.
With the rapidly changing world where India’s population is set to overtake that of China and supply chains are reshaping, analysts at Bank of America Securities (BofA) are now highlighting stocks that they believe will bode well for the years to come with their offerings and fundamentals inclined towards this change. Analysts have picked 50 stocks from across the globe, of which Reliance Industries (RIL) and Zomato have been picked from India. RIL and Zomato are seen as stocks that will benefit from the growing use of the internet and more disposable income for urban India.
Sensex was down more than 200 points with an hour left before the closing bell. Nifty was just below 16700.
“Wholesale price inflation accelerated to a record high of 15.9% in May led by a spike in food and energy prices. Vegetables and cereals prices surged due to heatwave-led disruptions and have pushed up primary food inflation. Elevated crude oil prices, LPG price hikes and electricity tariff revisions contributed to the rise in fuel and power inflation. There was some moderation in manufactured products inflation which is good news. Going ahead, measures announced by the government during the latter half of May to reduce input costs coupled with signs of moderation in global metal prices indices in May would bode well for WPI inflation which is dominated by manufactured items. However, soaring vegetable prices and elevated crude oil prices are likely to keep wholesale inflation in double digits in the near term,” said Rajani Sinha, Chief Economist, Care Ratings.
A-1 Acid, Atam Valves, Dynacons Systems & Solutions, Chennai Ferrous Industries, Galactico Corporate Services, Gensol Engineering, Knowledge Marine & Engineering Works, Lords Chloro Alkali, Sarda Papers, Shankar Lal Rampal Dye-Chem, S&T Corporation were among the stocks at 52-week high on BSE. Meanwhile, Asian Paints, Bajaj Finance, Bajaj Finserv, BPCL, Birlasoft, Chemplast Sanmar, Coforge, Glenmark Pharmaceuticals, Godrej Properties, GR Infraprojects, Gujarat Gas, HIL, Jubilant Pharmova, LIC, Lux Industries, Metropolis Healthcare, Piramanal Enterprises, Tata Steel, Tech Mahindra, Ultratech Cement were among the scrips that touched 52-week low on BSE.
Adani Enterprises share price surged nearly 4 per cent to Rs 2,161.90 apiece on BSE on Tuesday. French energy major TotalEnergies will pick a 25 per cent stake in Adani New Industries (ANIL) from Adani Enterprises to jointly build the world’s largest green hydrogen ecosystem. Adani New Industries will invest over $50 billion over the next 10 years in green hydrogen and associated ecosystems. In the initial phase, the company will develop green hydrogen production capacity of 1 million ton per annum before 2030. Read full story
“Going ahead, on the breach below 15700 (on a closing basis) possibility of extended correction towards 15400 can not be ruled out. Meanwhile, to pause the ongoing downward momentum, a decisive close above previous sessions would be a prerequisite. On the upside, 16200 would act as key hurdle as it is Monday’s gap down area (16202-15878) coincided with 50% retracement of current decline (16793-15684).”
~ ICICI Direct
Oil prices remained almost unchanged overnight, with Brent crude finishing at $122.10, and WTI closing at 121.10 a barrel. The continuing squeeze on refined products globally, as well as a lack of investment to bring online more supplies from OPEC members, or other sources, means lost Russian production is nowhere near being covered by global markets. Adding to the noise is news that Libyan production has fallen from 1.1 million bpd to just 0.10 million bpd. Not a game-changer in normal times, but with the current situation, it is certainly enough to keep prices elevated.
In Asia, prices have climbed once again as regional buyers get impatient waiting for a risk-aversion dip to arrive. Brent crude has climbed 0.70% to $123.95, with WTI adding 0.40% to $121.60. In the near-term, Brent crude has support at $119.50 and $118.50, with resistance at 123.60 and a triple top at $124.40 a barrel. WTI has support at $118.00 ad $117.00 a barrel, with resistance at $122.25 and $123.00 a barrel.
~ Jeffrey Halley Senior Market Analyst, Asia Pacific OANDA
BSE Sensex and NSE Nifty 50 traded volatile during the month of May, falling more than 2.5% each. During this period mutual fund managers were seen selling large-cap stocks such as Zomato, Steel Authority of India (SAIL) and even Indian Railway Catering And Tourism Corporation (IRCTC). On the other hand, HDFC AMC, JSW Steel, Dabur India and Infosys were some of the most bought stocks in May. During the month, inflows ex-NFOs increased to Rs 18,500 crore against Rs 12,800 crore in April, a 45% jump, analysts at ICICI Direct said.
An asset allocation strategy with a well-diversified portfolio is the key to managing risk and ensuring low deviation from the expected outcome. Everyone’s risk taking capabilities differ and there are various ways to measure your risk tolerance. Investors must understand the overall risk associated with the asset allocation strategy. When we are investing for the long term, short term volatility will always prevail but at the end of the day the fundamentals matter. Read full story
“Inflation was going to stay outside RBI’s comfort zone as food and other commodity prices have continued to stay up. The reason behind inflation coming down to 7.04% from 7.79% m-o-m, was just due to a favourable base effect and the recent excise cuts on petrol. While a normal monsoon is expected this season, we may see some easing in the food prices in the months to come,” said Raghvendra Nath, Managing Director – Ladderup Wealth Management.
Sensex and Nifty were extending their gains on Tuesday after having opened with losses earlier in the day.
Sensex and Nifty trimmed losses on Tuesday and turned green.
State Bank of India (SBI) share price has tanked 5 per cent so far this year. The stock has performed better in comparison to benchmark Nifty 50 index which has plunged 10% YTD. Despite the recent correction in SBI shares amid extreme market volatility, analysts at Motilal Oswal have a positive outlook on the stock as they believe that the public lender is well poised to sustain the growth momentum going forward. The brokerage sees 35 per cent upside in SBI share price and has reiterated ‘Buy’ rating on the stock. SBI shares were quoting at Rs 445, down 0.2 per cent on the National Stock Exchange (NSE) intraday.
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India were trading weak on Tuesday, as globally yellow metal hovered near a four-week low. On Multi Commodity Exchange, gold August futures were ruling Rs 122 or 0.24 per cent down at Rs 50,542 per 10 gram, as against the previous close of Rs 50,664 per 10 gram. Silver July futures were ruling at Rs 60,122 per kg, down Rs 189 or 0.3 per cent on MCX. Internationally, yellow metal was weak as a strong dollar countered safe-haven demand fuelled by economic slowdown fears amid prospects of aggressive monetary policy tightening. Read full story
“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. Defences like leading FMCGs are safe bets,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Bharat FIH, a Foxconn Technology Group company, has received approval from capital market regulator SEBI to launch Rs 5,000 crore initial public offering (IPO). The public issue comprises fresh issue of shares worth Rs 2,502 crore and an offer-for-sale of up to Rs 2,502 crore by promoter group and Foxconn unit Wonderful Stars. The company had filed draft red herring prospectus with capital market regulator in December 2021. Bharat FIH provides manufacturing and assembly services for Xiaomi’s mobile phones in India. Read full story
A higher dollar hurts all commodities denominated in dollars, as it makes the commodity dearer for other currency holders. Meanwhile, renewed restrictions in China, just weeks after major easing in key cities such as Shanghai might also weigh down on sentiments. We expect MCX Crude oil June futures to decline towards Rs 9,000 per bbl for the week. Read full story
Sensex and Nifty extended losses on Tuesday morning. Sensex was down more than 300 points while Nifty 50 gave up 15,700.
Sensex and Nifty trimmed opening losses to trade flat within minutes of the opening bell.
Sensex opened 200 points lower on Tuesday morning while NSE Nifty 50 was just above 15,700. Bank Nifty slipped 0.53%.
Sensex shed 400 points at the start of the pre-open session on Tuesday while NSE Nifty 50 was down 250 points, slipping below 15,600.
“Benchmark Indices are expected to open on a negative note as trends on SGX nifty indicates a gap down opening with 92 points loss. The correction in global counterparts after hotter than expected US inflation data, weakening rupee and FII selling pressure dented market sentiment on June 13. The Fed is scheduled to make its next policy announcement on Wednesday and investors will be highly focused on any clues for how aggressive the central bank intends to be in raising rates. Cryptocurrency and blockchain related stocks, including Riot Blockchain (RIOT.O), Marathon Digital Holdings (MARA.O) and Coinbase Global (COIN.O), all plunged as bitcoin slumped more than 10% after major U.S. cryptocurrency lending company Celsius Network froze withdrawals and transfers citing “extreme” conditions. Crucial support for Nifty 50 is 15,500 while Nifty may face some resistance at 16,300,” said Mohit Nigam, Head – PMS, Hem Securities.
The Indian Rupee is likely to depreciate further on Tuesday on strong dollar, risk aversion in global markets and persistent FII outflows. In the previous session, rupee plunged to close at an all-time low against the US dollar, as a lacklustre trend in domestic equities, stronger greenback overseas weighed on investor sentiments. At the interbank foreign exchange market, the local currency opened at 78.20 and settled at 78.13, down 20 paise over its previous close. The US dollar stood by a fresh 20-year peak as investors braced for aggressive rate hikes and a possible recession. The Fed will deliver its largest rate hike in 28 years to tackle inflation, a move that should push dollar to a fresh high against its major currency rivals, Jefferies said on Monday.
Bajaj Finance: The company has raised fixed deposit interest rates on various tenors — 24-60 months — by up to 20 basis points (0.20 per cent). This will not include deposits of 44 months tenor, it added. The revised rates on Bajaj Finance FDs of up to 20 basis points are effective from June 14, 2022, and shall be applicable to fresh deposits and renewals of maturing deposits.
Tata Steel: Tata Steel has unveiled a 7-million pound investment plan for its Hartlepool Tube Mill in north-east England that the Indian steel major says will cut carbon emissions, improve capacity and reduce costs to strengthen its UK business. The investment will go into a new slitter which will allow the Hartlepool site to process coils of steel delivered from Tata’s Port Talbot steelmaking site in South Wales.
“Overnight fall in the US markets and early weakness in SGX Nifty suggest bears will continue to attack Dalal Street, with the ground reality indicating that Nifty could drop to its March lows of 15671 mark. Global stock markets are seen tumbling and bond yields jumping as fears over inflation seen rattling investors around the world. The U.S. consumer prices rose 8.6% year-over-year in May, bolstering expectations that the Federal Reserve will continue to aggressively hike rates in the second half of this year, even with signs of economic slowdown. So, economic projections and Jerome Powell's commentary will be closely watched on June 15th. The street is already expecting a 50 bps rate hike in the June policy meeting,” said Prashanth Tapse, Vice President (Research), Mehta Equities.
“Multiple support area was violated yesterday along with a breakdown on a closing basis in Nifty. Another attempt to break 15,700 can push the Nifty down towards 15,500. Advise to stay hedged. Bank Nifty remains in bear grip and should see more weakness below 33,000,” said Rahul Sharma, Director & Head – Research, JM Financial.
“Nifty remained under selling pressure as it slipped below the 16000 mark in the morning trades. However, on the lower end, it found support at a historical swing low it had made in early March this year, leading to recovery in the second half. The daily RSI is in bearish crossover and falling. The trend remains bearish; a fall below 15670 may resume the selling pressure in the market. On the higher end, resistance is visible at 16000/16200,” said Rupak De, Senior Technical Analyst at LKP Securities.
Domestic stock indices were once again looking to open gap-down on Tuesday, following a mayhem in the previous session, as BSE Sensex and Nifty 50 fell more than 2.5 per cent each. Currently, the BSE Sensex sits at 52,847, down 1,457 points or 2.68%, while NSE Nifty 50 fell 427 points, or 2.64%, to settle at 15,774. SGX Nifty was also suggesting that Dalal Street might still be in the grip of bears. Read full story
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: The prices of petrol and diesel continue to remain unchanged as OMCs kept prices steady for the twenty-third day straight on Tuesday. Prices have remained undisturbed since Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by 8 per litre, and 6 rupees per litre on diesel earlier on May 21. Petrol price in Delhi today stands at Rs 96.72 a litre as against Rs 105.41 a litre prior to the cut in excise duty, while diesel will cost Rs 89.62 a litre as opposed to Rs 96.67. In Mumbai, one litre of petrol costs Rs 111.35 while diesel is retailing at Rs 97.28 per litre.
“The short-term trend of Nifty continues to be negative. Having reached crucial lower support of 15700 levels and a formation of unfilled weekly opening downside gap, there is a possibility of an upside bounce from the lows of around 15500-15400 levels in the next 1-2 sessions,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Ahead of Tuesday's trade, SGX Nifty was down more than 100 points suggesting a weak start for Dalal Street. Asian stock markets were also in the red.
Retail inflation eased to 7.04% in May from a 95-month high of 7.79% in April, as price pressure across core and food products moderated, partly aided by a conducive base. Inflation based on the consumer price index (CPI) still breached the upper band of the Reserve Bank of India’s medium-term target (2-6%) for a fifth straight month. The RBI is still widely expected to go for a third round of rate hike in August but the moderation in inflation substantially reduces the possibility of any out-of-cycle rate action in between.