Sensex today: Stock Market LIVE Updates: Sensex reverses losses, turns flat; Nifty above 16,350; Rupee plumbs new lows
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Crypto currencies yet to pass test of fiat currency: CEA
Sounding a note of caution, Chief Economic Adviser V Anantha Nageswaran said on Thursday that the crypto currencies have yet to pass the test to become fiat currency and at the same time it would be difficult to regulate them. He further said that unlike fiat money, crypto currencies cannot satisfy basic requirements such as having store value, widespread acceptability and unit of account.
Brent crude falls 1%
#MarketsWithETNOW | #Brent Crude down over 1% from day's high, trades below $124/bbl US #naturalgas futures fall m… https://t.co/hw0yx3Jk4L
— ET NOW (@ETNOWlive) 1654758890000
State-owned CIL on Thursday said that it has floated its maiden tender to import 2.416 million tonnes of coal to ensure adequate supply of the fuel to power plants in the country.The development assumes significance in the wake of the government making all efforts to build up stock of coal to avoid the reoccurrence of power outages which happened in April on account of shortage of the fossil fuel.
Price as on 09 Jun, 2022 01:12 PM, Click on company names for their live prices.
Market LIVE Updates: Oil India, IFB Industries among top NSE gainers
Price as on 09 Jun, 2022 12:35 PM, Click on company names for their live prices.
MAY AMFI DATA
AMFI May Data | Equity inflow at Rs 18,529 cr vs inflow of Rs 15,890 cr MoM Total AUM at Rs 37.4 lk cr vs Rs 38.9… https://t.co/xliZQez4al
— ET NOW (@ETNOWlive) 1654756825000
JUST IN: Rupee hits fresh record low of 77.79 vs US dollar
Market LIVE Updates: Metal index in deep red; Tata Steel slides 3%
Price as on 09 Jun, 2022 12:03 PM, Click on company names for their live prices.
Deepak Nitrite falls 5% on reports of Nandesari plant closure notice
Shares of Deepak Nitrite extended their losing run to the fifth session as it declined nearly 5 per cent in early trade on Thursday amid reports that the Gujarat government has issued a closure notice to the company over the Nandesari explosions. The scrip has shed almost 10 per cent in the last five sessions after last week’s fire breakout and a series of explosions at the Deepak Nitrite’s plant located at Nandesari Industrial estate near Vadodra.
LIC stock wipes off wealth equivalent to Tata Motors’ market cap
- Recently-listed Life Insurance Corporation of India (LIC) shares continued its downtrend on Thursday as the insurance behemoth hit its new lows. The scrip dropped another 2 per cent on Thursday, slipping to Rs 723.7, before making a partial recovery. Shares of LIC have wiped of almost one-fourth of their wealth from the issue price of Rs 949.
- The state-run insurer listed at a market capitalization of Rs 6 lakh crore, which has now slipped to Rs 4.6 lakh crore level. The journey of LIC on Dalal Street has been a painful one for investors so far as the stock has wiped out more than Rs 1.4 lakh crore of wealth.
- LIC’s mcap loss has been equivalent to the total valuations of bluechips stocks like Tata Motors, Tata Steel, Mahindra & Mahindra and JSW Steel.
STOCK IN FOCUS: COAL INDIA
#StocksInFocus | @CoalIndiaHQ issues a 2.42 mn MT imported coal tender; wherein bidders will submit final bids by J… https://t.co/fZJdxB291G
— ET NOW (@ETNOWlive) 1654750662000
Sensex Today LIVE: Index off day’s low, rises 60 points
IEX: CERC gives nod to TAM & green TAM contracts beyond 11 days
Price as on 09 Jun, 2022 10:20 AM, Click on company names for their live prices.
No evidence of sticky inflation in India; Growth momentum is strong: Neelkanth Mishra, CS
#ETNOWExclusive | "No evidence of sticky #inflation in India; Growth momentum is strong" says @NeelkanthMishra of… https://t.co/GN5Lcv2k5i
— ET NOW (@ETNOWlive) 1654748104000
Market LIVE Updates: LIC slides to new all-time low
BLOCK DEAL: 8.5% equity of GMR Power changes hands; stock up 2%
Price as on 09 Jun, 2022 09:40 AM, Click on company names for their live prices.
Market View: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
In India, the near-term texture of the market is ‘sell on rallies’. FPI’s sustained selling has become almost predictable. Only a declining inflation rate in the US and the possibility of the Fed turning less hawkish than now can change the trend of FPI selling.
FPI selling in banking stocks has led to depressed valuations in this segment, particularly in high quality banking majors. This is an opportunity for medium- long- term investors.
Vodafone Idea, MRPL, ONGC among most active stocks on NSE
Price as on 09 Jun, 2022 09:36 AM, Click on company names for their live prices.
Barring Pharma, all Nifty sub indices in the red
Sensex Heatmap: 27 of 30 index stocks trade on a weak note
OPENING BELL: Sensex falls 250 points, Nifty below 16,300; Voltas, Asian Paints slip 2% each
BLOCK DEAL: 3.3% equity of GMR Infra changes hands
Price as on 09 Jun, 2022 09:12 AM, Click on company names for their live prices.
Asian shares open mostly lower
Asian stocks traded mostly lower after a decent winning streak and overnight fall of US shares. Those trading higher were supported by a pick-up in tech stocks. MSCI’s index of Asia-Pacific shares outside Japan was down by 0.22 per cent.
Financials drag Australian shares down
Australian shares slipped on Thursday, impacted by banking stocks extending losses after the central bank raised interest rates by the most in 22 years, while Crown Resorts climbed after gambling regulators approved its buyout by Blackstone. The MSCI world equity index, which tracks shares in 50 countries, fell 0.56%. In other key markets, Japan’s Nikkei rose 0.2% to 28,298.39 and S&P 500 E-minis futures inched 0.1% lower.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 51.5 points, or 0.32 per cent, lower at 16,297.50, signaling that Dalal Street was headed for a negative start on Thursday.
Q4 results today
Dhyaani Tile and Marblez is the only company which will announce its quarterly earnings today.
Tech view: Nifty breaks below the support of 16,400
After a volatile session, largely affected by rate hike and RBI commentary, the Nifty50 ended with a cut and formed a bearish candle on daily charts on Wednesday. From a technical perspective, the Nifty slipped below 16,400 which increases the risk of the index slipping into the wide trading range of 15,700-16,400.
Oil hovers near 13-week high on robust US demand
Oil prices held near 13-week highs on Thursday, underpinned by robust demand in the world’s top consumer United States while demand is expected to rebound in China as COVID-19 curbs across major cities are relaxed. Brent crude futures for August nudged up 12 cents to $123.70 a barrel by 0033 GMT, while U.S. West Texas Intermediate crude for July was at $122.17 a barrel, up 6 cents.
US stocks fall with US Treasury yields above 3%
US stocks fell on Wednesday as Treasury yields rose above the psychologically important 3% level and oil prices jumped, fanning worries about inflation and the outlook for interest rates. The Dow Jones Industrial Average fell 269.24 points, or 0.81%, to 32,910.9; the S&P 500 lost 44.91 points, or 1.08%, to 4,115.77; and the Nasdaq Composite dropped 88.96 points, or 0.73%, to 12,086.27.
Rupee advances 10 paise to settle at 77.68 against USD
Recovering from its lifetime low, the rupee advanced 10 paise to settle at 77.68 against the US dollar on Wednesday after the RBI raised the interest rate by 50 basis points to tame inflation. However, elevated oil prices and persistent foreign capital outflows capped the gains.
Sensex, Nifty on Wednesday
Rattled by inflation and tightening fears, the 30-share pack closed 214.85 points lower at 54,892.49. Its broader peer, Nifty50, also struggled but managed to hold the 16,350 mark. Though this rate hike is on expected lines, benchmark indices still struggled for a direction and swung between gains and losses and finally settled with cuts for the fourth consecutive session.
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