Share Market Highlights: Sensex ends 98 points lower at 53416, Nifty closes at 15938; Axis Bank, HCL Tech top drags

Share Market News Today | Sensex, Nifty, Share Prices Highlights: BSE Sensex and NSE Nifty 50 closed in the red on weekly F&O expiry.

Share Market Highlights: Sensex ends 98 points lower at 53416, Nifty closes at 15938; Axis Bank, HCL Tech top drags
The euro dropped below parity against the dollar on Wednesday for the first time in almost two decades.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 closed with losses on the weekly futures & options expiry session. S&P BSE Sensex shed 98 points or 0.18% to settle at 53,416 while the NSE Nifty 50 index dropped 28 points or 0.18% to end the day at 15,938. Bank Nifty closed 0.51% lower and broader markets followed. India VIX was also in the red on the closing bell, hanging above 18 levels. Sun Pharma was the top gainer on Sensex, up 2.55%, followed by Dr Reddy’s, and Kotak Mahindra Bank. Axis Bank was the worst performing Sensex constituent, accompanied by HCL Tech and State Bank of India.

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16:16 (IST) 14 Jul 2022
Sensex gives up intraday gains to end in red, Nifty support in 15800-15900 range

After having opened with gains on Thursday morning, Dalal Street was revisited by the bears, forcing the indices to close in the red. S&P BSE Sensex shed 98 points or 0.18% to settle at 53,416 while the NSE Nifty 50 index dropped 28 points or 0.18% to end the day at 15,938. Bank Nifty closed 0.51% lower and broader markets followed. Sun Pharma was the top gainer on Sensex, up 2.55%, followed by Dr Reddy's, and Kotak Mahindra Bank. Axis Bank was the worst performing Sensex constituent, accompanied by HCL Tech and State Bank of India. India VIX was in the red on the closing bell, hanging just above 18 levels. 

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15:33 (IST) 14 Jul 2022

Sensex fell 98 points to settle the day at 53,416, Nifty 50 ended the day at 15,938; Axis Bank, HCL Tech top drags.

14:56 (IST) 14 Jul 2022
Tech stocks in red

HCL Tech stock was the worst performing stock on Sensex on Thursday, down 2.32%. Tech Mahindra, Infosys, TCS, and Wipro followed close.

14:20 (IST) 14 Jul 2022
IAMAI to shut down Blockchain and Crypto Assets Council (BACC). How will it impact crypto industry?

The Internet and Mobile Association of India (IAMAI) has reportedly decided to shut down the Blockchain and Crypto Assets Council (BACC). The IAMAI has, however, not issued any formal statement in this regard till the time of writing. IAMAI distancing itself from BACC could prove to be another blow to struggling crypto exchanges and companies in India, who have been battered by the market crash and the implementation of a harsh crypto tax regime.

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14:08 (IST) 14 Jul 2022
WPI eases to 15.2% on-year in June

“WPI inflation moderated in June, but remains at an elevated level. Easing in global commodity prices and the Indian government’s supply-side measures could aid in taming price pressures in the coming months,” said Rahul Bajoria, MD & Chief India Economist, Barclays. Wholesale price inflation surprised to the downside, easing to 15.2% y/y in June from the 30-year high of 15.9% in May.

13:45 (IST) 14 Jul 2022
Mutual fund AUM at 11-month low despite strong inflows; fund managers hike auto, oil, gas weightage

With the consecutive months of negative returns on Dalal Street, the Asset Under Management for the mutual fund industry dropped to an 11-month low in June, data sourced by Motilal Oswal showed. “Total AUM for the mutual fund (MF) industry declined for the second consecutive month to Rs 35.6 trillion (-4.2% MoM) in June 2022 — the lowest level since August 2021 — led by a decline in AUM for income (Rs 711 billion), equities (Rs 405 billion), liquid (Rs 219 billion), other ETFs (Rs 115 billion,” the report said. While the AUM has come down, inflows into mutual funds remain strong with continued SIP flows and lower redemptions. 

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12:59 (IST) 14 Jul 2022
NSE defers SGX Nifty Futures launch at IFSC GIFT City, PM Modi’s visit cancelled due to heavy rains in Gujarat

The launch of NSE International Financial Service Centre (IFSC) SGX Connect, the platform that would help Singapore Exchange members to deal in Nifty derivatives at the NSE IFSC, has been postponed. Both the National Stock Exchange (NSE) and Singapore Exchange (SGX) told this to their trading members and vendors through a circular on Wednesday. Prime Minister Narendra Modi was expected to launch Nifty futures contracts at the Gujarat International Finance Tec (GIFT) city on 15 July 2022. Read full story

12:25 (IST) 14 Jul 2022
Rupee falls to fresh record low for 4th straight session on strong dollar, risk aversion in markets

Indian rupee hit a fresh record low against the US dollar for the fourth straight session on Thursday after faster-than-expected June inflation data in the US fueled the speculations that the Federal Reserve may raise key interest rates by as much as one percentage point in the upcoming meeting. This month alone, the domestic currency has dropped to record lows seven times. With the most recent fall, the domestic currency touched 79.83 against the US dollar. The rupee was trading at 79.77, down 0.17% from its previous close of 79.64. Read full story

11:01 (IST) 14 Jul 2022
NSE IFSC SGX Connect launch postpnes

The launch of NSE International Financial Service Centre (IFSC) SGX Connect has been postponed indefinitely with both the National Stock Exchange (NSE) and Singapore Exchange (SGX) informing trading members and vendors.

10:59 (IST) 14 Jul 2022
HDFC Bank, AU Small Finance among banking stocks to buy; analysts see up to 50% potential rally

Benchmark indices Sensex and Nifty 50 were trading with gains on the weekly futures & options expiry session on Thursday. S&P BSE Sensex rose more than 300 points to breach 53,800 while Nifty 50 regained 16,000. Domestic markets along with global markets have been trading volatile recently amid multiple headwinds including inflation, rising interest rates, and crude oil prices. Analysts have been suggesting sticking to stock-specific trade while headline indices remain stuck in a tug of war between bulls and bears. Bank Nifty was closing in on the 35,000 mark. Angel One has picked three banking stocks that investors can buy. These include HDFC Bank, Federal Bank, and AU Small Finance Bank. 

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10:38 (IST) 14 Jul 2022
FII selling may strengthen the bears

“FIIs have used the July rally to press further big selling ( Rs 2840 cr yesterday) after what appeared as selling exhaustion in early July. This renewed FII selling may strengthen the bears but DIIs and retail investors are likely to turn strong buyers at every dip since India's economic fundamentals are strong and, more importantly, valuations are attractive particularly in segments/ stocks where FIIs are selling,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

10:30 (IST) 14 Jul 2022
Healthy retracement of recent up move

“The formation of lower high-low signifies extended breather amid stock specific as we enter the Q1FY23 earning season. Over past three sessions index has retraced 38.2% of preceding five sessions up move (15511- 16275), signifying healthy retracement of recent up move,” said ICICI Direct.

10:11 (IST) 14 Jul 2022
Gold Price Today, 14 July 2022: Gold falls on US inflation data, may trade under pressure; buy on dips

Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were trading weak in India on Thursday as yellow metal globally fell following the release of US inflation data. On Multi Commodity Exchange, gold August futures were ruling Rs 129 or 0.25 per cent down at Rs 50,673 per 10 gram. Silver September futures were trading at Rs 56,870 per kg, down Rs 257 or 0.45 per cent. Globally, gold prices slipped as Treasury yields and the dollar rose, with bullion’s outlook hurt by fears the Federal Reserve could go for a more aggressive interest rate hike this month. Read full story

09:35 (IST) 14 Jul 2022
Elevated crude prices, risk aversion in markets to weigh on Rupee

“The rebound in crude oil prices and risk-averse sentiments could weigh on the rupee along with the weaker regional currencies. On Wednesday, spot USDINR gained 3 paise to 79.6350, another record high close this week. The view remains bullish for the pair as long as it trades above 78.80 while on the higher side it could face stiff resistance of 80.”

~Dilip Parmar, Research Analyst, HDFC Securities

09:32 (IST) 14 Jul 2022
Bank Nifty trades in green

Nifty Bank index was trading in green at 34,864 levels

09:27 (IST) 14 Jul 2022
SBI, TCS, Infosys top Sensex losers

Axis Bank, State Bank of India (SBI), Tata Consultancy Services (TCS), Tata Steel, Mahindra & Mahindra (M&M), Tech Mahindra, and Infosys were among top index losers

09:19 (IST) 14 Jul 2022
Top gainers

Titan was the top gainer on Sensex, up 1.2% at the beginning of Thursday's trade. Sun Pharma, Bharti Airtel, and Nestle India followed.

09:16 (IST) 14 Jul 2022
Opening Bell

Sensex rose 150 points or 0.35% on the opening bell to close in on 53,700. Nifty 50 index regained 16,000.

09:10 (IST) 14 Jul 2022
Indian Rupee likely to set new low today against US Dollar

At a time when domestic financial markets are struggling to cope with record FII outflows and widening deficits, the RBI has been on the front foot by announcing a series of measures to bring back foreign capital and curb the USDINR volatility. Well, the onshore intraday volatility still seems to remain subdued amid RBI intervention who is trying to cap the losses in the rupee, however the same hasn’t been fruitful as the USDINR pair opens at a higher level than the previous day as witnessed in the past few trading sessions. The rupee is likely to set its new low today by opening around 79.75 levels and the range for the day could be between 79.50 to 80.00 levels. If the big figure 80 levels are broken, move towards 81 will be sharp and soon. Amit Pabari, managing director, CR Forex Advisors

09:09 (IST) 14 Jul 2022
Sensex, Nifty trade 0.3% up in pre-open

BSE Sensex jumped 163 points or 0.3 per cent to 53,667, while NSE Nifty 50 index reclaimed 16000 in pre-opening session on weekly F&O expiry day

09:01 (IST) 14 Jul 2022
Rupee may depreciate further on strong dollar, risk aversion in markets; USDINR to trade with positive bias

The Indian rupee is expected to depreciate on Thursday amid strong dollar and risk aversion in global markets. Market sentiments are hurt as red hot inflation in the US stoked bets that the US Fed may have to raise interest rates much more than expected, even 100 bps. Additionally, consistent FII outflows and concerns on looming recession may hurt rupee. US$INR (July) is expected to trade in a range of 79.50-80.00, said ICICIDirect. In the previous session, rupee declined by 22 paise to close at a record low of 79.81 against the US dollar after the greenback surged to a 20-year high in overseas markets and foreign investors continued to withdraw funds from Indian stocks.

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08:55 (IST) 14 Jul 2022
Petrol and diesel price July 14: Fuel rates unchanged; Check prices in Delhi, Mumbai, other cities here

The prices of petrol and diesel on Thursday, July 14, were left untouched as OMCs continue to sell fuel at unchanged prices for nearly two months now. Prices have remained steady after Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by Rs 8 per litre, and Rs 6 per litre on diesel 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 retails at Rs 97.28 per litre.

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08:54 (IST) 14 Jul 2022
Nifty support at 15800, Bank Nifty to trade flat-to-negative today; use Put Ladder for 21 July F&O expiry

Nifty Put options OI distribution shows that 15,800 has highest OI concentration followed by 15,600 & 15,700 which may act as support for current expiry and on the Call front 16,100 followed by 16,200 & 16,300 witnessed significant OI concentration and may act as resistance for current expiry. Options data suggest an immediate trading range between 15,800 and 16,200 levels. Read full story

08:26 (IST) 14 Jul 2022
Nifty may hit 18100 in a year; Auto, Capital Goods, FMCG stocks among top bets for next 6 months | INTERVIEW

Share markets are volatile as of now, and going forward, a lot will depend on the fundamental factors such as inflation, interest rates globally, economic growth, currency moves and corporate performance in India, and technical factors like FPI fund flows and their risk appetite in investing in emerging countries like India. For the next 12 months, Nifty may make a top around 18,100 in the best case scenario, while on the downside it could fall towards 13,600. Triggers may keep emerging for Nifty to go in a particular direction, said Deepak Jasani, Head of Retail Research, HDFC Securities in an interview with Harshita Tyagi from Read full interview

08:24 (IST) 14 Jul 2022
Infosys, Mindtree, ACC, Hindustan Zinc, Tata Power, Dabur, IndusInd Bank stocks in focus on weekly F&O expiry

Mindtree: Mindtree Ltd on Wednesday reported a 37.3% on-year growth in its consolidated net profit at Rs 471.6 crore for the quarter ending 30 June 2022.

Infosys: Infosys Ltd on Wednesday signed a definitive agreement to acquire Denmark-based BASE life science. Read full story

08:23 (IST) 14 Jul 2022
SGX Nifty suggests gap-down start for Sensex, Nifty; 5 things to know before opening bell

With the Nifty having fallen for three days straight, the short-term trend of the market is seen to be weak. “Nifty is currently placed at the key lower support of 16000 levels. A decisive move below this support could drag the Nifty down to the next support of 15700 levels. A sustainable upside could resume above 16150 levels,” Nagaraj Shetti said. Meanwhile, Om Mehra of Choice Broking sees support for Nifty at 15850 and 15800. Read full story

08:22 (IST) 14 Jul 2022
Indian economy to grow 7.1-7.6 pc in current fiscal: Report

Indian economy is projected to grow 7.1–7.6 per cent in the current financial year despite shifting geopolitical realities across the world, a report said on Wednesday. In its India’s economic outlook – July 2022 report, leading consultancy Deloitte India said that as 2021 was coming to a close, there was optimism in the air but the optimism received a jolt early this year as a wave of Omicron infections swept through the country and Russia’s invasion of Ukraine happened in February. Read full story

08:22 (IST) 14 Jul 2022
Euro falls below dollar parity for first time since 2002

The euro dropped below parity against the dollar on Wednesday for the first time in almost two decades, as a hawkish U.S. Federal Reserve and growing concern about rising recession risks in the euro area continued to batter the currency. The latest slide came after another hot set of U.S. inflation data. Europe’s single currency started this year on a strong note given a post-pandemic economic recovery. Read full story