Sensex Today: Stock Market Today LIVE Updates: Sensex rebounds, jumps 400 points; Nifty tests 15,550; Maruti, Asian Paints rise up to 4%
Sensex Today Live: Indian shares traded higher on Thursday, with IT and auto stocks gaining, while a fall in oil prices boosted domestic sentiment. Prashanth Tapse, vice president (Research), Mehta Equities said Indian markets could track early gains in Asia, and a sharp fall in crude prices would boost sentiment. Meanwhile, US Federal Reserve chief Jerome Powell said the central bank is not trying to engineer a recession to stop inflation, but is fully committed to bringing prices under control even if doing so risks an economic downturn.
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Top gainers from the telecom pack
Price as on 23 Jun, 2022 02:53 PM, Click on company names for their live prices.
A meeting of Board of Directors of Route Mobile is schedule to be held on Tuesday, June 28, 2022, inter alia, to consider a proposal for buyback of fully paid up equity shares of the company
Price as on 23 Jun, 2022 02:21 PM, Click on company names for their live prices.
Titan Company’s women ethnic wear brand Taneira eyes about two-fold growth in revenue at Rs 300 crore in current fiscal year, and Rs 1,000 crore by FY27.
Price as on 23 Jun, 2022 02:09 PM, Click on company names for their live prices.
Sensex rebounds, jumps 400 points
STOCK IN FOCUS: HINDUSTAN ZINC
#ETNOWExclusive | @FinMinIndia has now decided to fast track #HindustanZinc OFS, for which they will appoint the tr… https://t.co/5hhFJ4DZ6J
— ET NOW (@ETNOWlive) 1655971293000
India aims to keep FY2023 fiscal deficit at last year’s level
- India’s government will not be able to cut its budget deficit this fiscal year as previously projected, officials said, but will seek to cap the shortfall at last year’s level to prevent a major deterioration in public finances.
- Efforts to maintain some fiscal discipline reflect New Delhi’s concern around risks to its sovereign credit rating but will likely limit the government’s firepower to contain inflation and provide relief to households and businesses.
- In February, Prime Minister Narendra Modi’s government set a fiscal deficit target of 6.4% of gross domestic output (GDP) for the year that started on April 1, compared with a deficit of 6.7% last year.
European stocks fall as oil, metal prices extend losses
- European shares fell on Thursday, dragged down by energy and mining stocks due to sliding commodity prices on worries about slowing economic growth, with several broker calls also spurring big moves in stocks.
- The continent-wide STOXX 600 index dropped 1.1% by 0724 GMT, with oil & gas stocks slipping 1.8% as crude prices fell almost 2%.
- Miners shed 2.2% as copper and other metals extended recent declines on growing fears about a recession.
Sensex erases all gains, turns red
Brent Crude is down 19% in June so far! What are the reasons behind this fall?
#ETNOWInsight | Brent Crude is down 19% in June so far! What are the reasons behind this fall? Take a look #Oil… https://t.co/j6sOPc3rmN
— ET NOW (@ETNOWlive) 1655963873000
So IT. For good or bad, stocks like Infosys and TCS will all suffer from the same thing and with the higher interest rates, their valuations will come down. There will be lesser cash flow on their books to implement a lot of their projects. The most interesting thing is this is one sector which does not have any debt on its books and is impacted by interest rates going up not because cost of capital becomes higher but because valuations start falling and that is one thing I am personally most scared of – high value.
– Rajat Sharma, Sana Securities
Tata motors initiates investigation in the Nexon EV fire incident in Mumbai
Price as on 23 Jun, 2022 12:19 PM, Click on company names for their live prices.
Top 5 losers on NSE at this hour
Price as on 23 Jun, 2022 12:18 PM, Click on company names for their live prices.
Market Today Updates: Acrysil shares surge 12% on order win from IKEA
Shares of Acrysil zoomed over 12 per cent in Friday’s early trade after the company announced doubling its supply of Quartz kitchen skinks to IKEA supply AG, which is a part of international IKEA Group Sweden for their global requirement. The production of kitchen sinks for IKEA will start at the end of July and the supply will begin in August.
Macrotech Developers enters Bengaluru; eyes Rs 1,200 cr sales from 1st housing project
- Realty major Macrotech Developers Ltd on Thursday announced its entry in the Bengaluru market and has formed a joint venture to develop its first housing project with an estimated sales bookings value of Rs 1,200 crore.
- In a regulatory filing, Macrotech Developers said it will acquire 100 per cent equity of G Corp Homes to make foray into the Bengaluru market.
- Macrotech Developers, which markets its properties under Lodha brand, has a significant presence in Mumbai Metropolitan Region and Pune.
Debt-ridden telecom operator Vodafone Idea has decided to defer payment of additional adjusted gross revenues of Rs 8,837 crore dues by a period of four years. The company in a late night filing on June 22, said that the DoT on June 15, has raised adjusted gross revenue (AGR) demand for additional two financial years beyond 2016-17, which were not covered under the Supreme court order on the statutory dues.
Price as on 23 Jun, 2022 10:58 AM, Click on company names for their live prices.
Tata Steel is working on a plan for transition to low carbon technologies for making steel in the UK and the Netherlands. In October 2021, Tata Steel completed the process of separating Tata Steel UK and Tata Steel Netherlands as two independent companies from Tata Steel Europe.
Price as on 23 Jun, 2022 10:50 AM, Click on company names for their live prices.
BSE Midcap outperforms Sensex
Market Today Updates: Auto stocks rise up to 4%
Price as on 23 Jun, 2022 10:16 AM, Click on company names for their live prices.
Sensex Today Updates: Sensex rises 500 points
Oil falls more than 2% as investors weigh recession risk
- Oil prices continued to pull back on Thursday, dropping more than 2% as investors recalibrated assessments of recession risks and fuel demand amid interest rate hikes in major economies.
- U.S. West Texas Intermediate (WTI) crude futures had skidded $2.6, or 2.7%, to $103.46 a barrel by 0330 GMT. Brent crude futures slid $2.5, or 2.3%, to $109.22 a barrel.
- Both benchmarks tumbled by as much as $3 a barrel in the early morning of Asian trading, after plunging around 3% in the previous session. They are at their lowest levels since mid-May.
Market View: Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Since the Nifty has clearly broken the lower band of 15800- 16800 in which it was trading for some time, the structure of the market has become weak. Relentless selling by FPIs and expectations of further selling have created a trade set-up where every rally will be sold into. The only sensible investment strategy in this complex and uncertain time is to buy high-quality stocks on dips and wait with patience. Apart from financials which look good, IT gaining from rupee depreciation and select autos gaining from metal price crash are good buys for long-term investment.
Voda Idea, ITI, Vedanta among most active stocks on NSE
Price as on 23 Jun, 2022 09:22 AM, Click on company names for their live prices.
All sectors trade in the green; media pack best performer
OPENING BELL: Sensex trades flat, up 75 points; Nifty tests 15,450; Future Retail, ITI tank 4% each
Asia shares struggle, oil falls as recession fears linger
Asian shares wobbled while commodity prices fell on Thursday as mounting worries about the risks of a global recession amid aggressive rate hikes by the Federal Reserve kept broad investor sentiment fragile. MSCI’s broadest index of Asia-Pacific shares outside Japan reversed earlier gains to be mostly flat in Asia trade. Stocks in South Korea were off, while Japan’s Nikkei was broadly unchanged.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 55 points, or 0.36 per cent, higher at 15,452, signaling that Dalal Street was headed for a positive start on Thursday.
Q4 results today
OCL Iron and Steel and Vardhman Polytex are among companies which will announce their quarterly earnings today.
Tech View: Nifty shows no follow-up buying
Nifty50 on Wednesday saw selling pressure, as it ended up forming a bearish candle on the daily chart. The index failed to see a follow through buying, following the breach of 15,200-15,400 range in the previous session, reflecting a lack of strength.
Oil extends losses as recession fears mount
Oil prices fell 2% in early trade on Thursday, extending losses from the previous day, as investors worried that aggressive U.S. interest rate hikes could trigger a recession and dent fuel demand. U.S. West Texas Intermediate (WTI) crude futures fell $2.39, or 2.3%, to $103.80 a barrel by 0031 GMT. Brent crude futures dropped $2.24, or 2.0%, to $109.50 a barrel.
Tokyo shares open higher as investors gauge Powell remarks
Tokyo shares opened higher on Thursday as investors gauged inflation and recession risks after US Fed chair Jerome Powell pointed to the need for further rate hikes. The benchmark Nikkei 225 index rose 0.22 percent or 58.77 points to 26,208.32 in early trade, while the broader Topix index added 0.41 percent or 7.62 points to 1,860.27.
US stocks end lower after Powell remarks, as energy shares drag
Wall Street’s main indexes ended with slim losses on Wednesday after choppy trading as energy shares weighed and investors digested Federal Reserve Chair Jerome Powell’s comments on the central bank’s aim to bring down inflation.The Dow Jones Industrial Average fell 47.12 points, or 0.15%, to 30,483.13, the S&P 500 lost 4.9 points, or 0.13%, to 3,759.89 and the Nasdaq Composite dropped 16.22 points, or 0.15%, to 11,053.08.
Rupee drops 19 paise to 78.32 against US dollar
The rupee declined by 19 paise to settle at an all-time low level of 78.32 against the US dollar on Wednesday due to unabated foreign fund outflows and losses in the domestic equities. A stronger greenback overseas also weighed on the rupee sentiment, forex traders said.
Sensex, Nifty on Wednesday
The BSE Sensex lost 710 points to settle at 51,822.53 while the NSE Nifty lost 225.50 points and settled near below the 15,450 mark, with the BSE market capitalisation falling Rs 3.54 lakh crore to Rs 237.09 lakh crore from Rs 240.63 lakh crore a day ago.