Sensex Today: Stock Market Live Updates: RIL, IT & bank stocks give Sensex 1,100 points fillip; Nifty tops 16,650; all sectors trade in the green
Sensex Today Live: Automaker Mahindra and Mahindra led a 1% jump in Indian shares on Monday after reporting positive quarterly results, while the market also benefited from an improvement in the global mood on news that Shanghai would ease COVID-19 curbs. Nifty’s IT sub-index built on the previous session’s rally with a 2.6% jump on Monday.
!1 New UpdateClick here for latest updates
Market LIVE Updates: BSE Smallcap index rallies over 2%, beats benchmark Sensex
Shriram Properties rallies 13% as firm returns to black in March quarter
Shares of Shriram Properties zoomed about 13 per cent during the early trade on Monday after the company returned to the black in the March 2022 quarter. The recently-listed real estate firm reported a consolidated net profit of Rs 64.4 crore for the quarter ended March. Its net loss stood at Rs 3.15 crore in the year-ago period. Following the announcement of earnings, shares of Shriram Properties zoomed 13 per cent to Rs 72, before trading at Rs 66.75 at 10.10 am. The scrip settled at Rs 63.90 on Friday.
I would say, at the moment, the US economy is actually in pretty good shape. The consumer is still in very good shape. If you look at metrics such as consumer credit, the US economy overall is healthy. There are, however, definitely some troubling signs. Definitely, tightening monetary conditions are taking asset prices down, which has an effect on how people feel about their wealth and that should start affecting spending habits moving forward, but we haven’t seen it yet. So, it’s very, very hard to predict or be sure of anything. I don’t think there’s enough data (yet).
– Goldman Sachs CEO David Solomon
Market LIVE Updates: Tata Motors shares rally nearly 3% after the company said it has signed an MoU for potential acquisition of Ford India’s Sanand plant
Price as on 30 May, 2022 10:20 AM, Click on company names for their live prices.
When the market is in a correction phase or trying to find a potential bottom before the rally starts, investors should not do bottom fishing because a falling knife is always dangerous.
– Mayuresh Joshi, Head of Research – Equity, William O’Neil India
Rupee surges 12 paise to 77.46 against US dollar in early trade
The rupee appreciated 12 paise to 77.46 against the US dollar in opening trade on Monday, supported by a fall in the dollar index and positive domestic equities. At the interbank foreign exchange, the rupee opened at 77.53 against the American dollar, then gained further ground to quote 77.46, registering a rise of 12 paise from the last close. On Friday, the rupee had settled at 77.58 against the US dollar.
Sensex today LIVE: Index extends rally, up over 900 points
Ethos: Pre-open listing
- BSE: Rs 830 (5% down)
- NSE: Rs 825 (6% down)
The market is set for a near-term rally. The sharp upswing in Nasdaq & S&P 500 late last week indicates near-term trend reversal. The decline in dollar index and the US 10-year bond yields, too, are positives for risk particularly in emerging markets. The beaten down IT segment is likely to stage a good comeback assisted by short-covering. Financials, particularly the leading banks, have more room to go up assisted by delivery based investment buying. However, Brent crude at $ 120 is a major macro headwind.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Future Consumer, Vodafone Idea, Adani Power among most active stocks on NSE
Price as on 30 May, 2022 09:27 AM, Click on company names for their live prices.
Sensex today LIVE: IT stocks lead gainers in early morning trade
Sector Watch: Barring Nifty Metal, all indices on NSE trade in the green
OPENING BELL: Sensex surges 650 points, Nifty tops 16,500; Zomato, Infosys rise 3% each
FOREX UPDATE: Rupee opens at 77.52/$ vs Friday’s close of 77.56/$
Oil climbs ahead of EU meeting on Russia sanctions
Oil prices rose to two-month highs on Monday as traders waited to see if the European Union would reach an agreement on banning Russian oil ahead of a meeting on a sixth package of sanctions against Moscow for its invasion of Ukraine. Brent crude futures gained 46 cents, or 0.4%, to $119.89 a barrel at 0111 GMT, while U.S. West Texas Intermediate (WTI) crude futures jumped 60 cents, or 0.5%, to $115.67 a barrel, extending solid gains from last week.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 123 points, or 0.75 per cent, higher at 16,460, signaling that Dalal Street was headed for a positive start on Monday.
Tech View: Nifty breaches 20-day SMA, faces hurdle at 16,400
Nifty50 on Friday breached its 20-day simple moving average (SMA) and settled above the 16,350 level and formed a bullish candle on the daily chart and a ‘Hammer’ candle on the weekly chart, hinting at a reversal ahead. Analysts said a close above 16,400, the upper end of the ongoing consolidation range, can open up doors for an upside toward the 16,750 level. Downside supports are seen at 15,900 and 15,700 levels.
Hong Kong, mainland shares start with healthy gains
Hong Kong and mainland Chinese stocks opened higher Monday, in line with gains across Asia and following another rally on Wall Street, with confidence boosted by an easing of long-running Covid curbs in Shanghai. The Hang Seng Index added 1.14 percent, or 236.14 points, to 20,933.50. The Shanghai Composite Index edged up 0.37 percent, or 11.72 points, to 3,141.96, while the Shenzhen Composite Index on China’s second exchange gained 0.49 percent, or 9.66 points, to 1,964.69.
Tokyo stocks open higher tracking US gains
Tokyo stocks opened higher on Monday, extending gains on Wall Street, with investors shifting their focus to global economic indicators due this week. The benchmark Nikkei 225 index was up 1.21 percent, or 323.48 points, at 27,105.16 in early trade, while the broader Topix index was up 1.01 percent, or 19.03 points, at 1,906.33.
US stocks rally, treasury yields fall on inflation data
US stocks enjoyed a broad-based rally on Friday, while the yield on benchmark US Treasuries fell after data showed that U.S. consumer spending rose in April and the uptick in inflation slowed, two signs the world’s largest economy could be on track to grow this quarter. The Dow Jones Industrial Average rose 575.77 points, or 1.76%, to 33,212.96, the S&P 500 gained 100.4 points, or 2.47%, to 4,158.24 and the Nasdaq Composite added 390.48 points, or 3.33%, to 12,131.13.
Rupee inches 3 paise higher to 77.58 against dollar
The rupee inched 3 paise higher to close at 77.58 against US dollar on Friday, supported by positive domestic equities and weakness of the American currency overseas. Forex traders said the rupee consolidated in a narrow range as elevated crude oil prices, fiscal deficit concerns and persistent FII outflows weighed on the local unit. At the interbank forex market, the rupee opened at 77.60 against the greenback and moved in a range of 77.57 to 77.67 in the day’s trade.
Sensex, Nifty on Friday
The Indian stock markets’ key indices, Sensex and Nifty, rallied by more than one per cent on Friday, led by strong buying support in IT, banking and capital goods stocks. The 30 stock S&P BSE Sensex surged 632.13 points or 1.17 per cent to close at 54,884.66 points against its previous day’s close at 54,252.53 points. The broader Nifty 50 of the National Stock Exchange closed 182.30 points or 1.13 per cent higher at 16,352.45 points against its previous session’s close at 16,170.15 points.