Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading half a per cent down on Wednesday, on the back of weak global cues. BSE Sensex was hovering around 51,650, while the broader Nifty 50 was ruling just above 15,500. Power Grid Corporation of India, UltraTech Cement, NTPC, ONGC, Sun Pharma, Dr Reddy’s, Maruti Suzuki, HUL, RIL were among top Sensex gainers. Stocks of Tech Mahindra, ITC, Housing Development Finance Corporation (HDFC), Kotak Mahindra Bank, ICICI Bank, HCL Tech, Infosys were among top index laggards. The sectoral trend was mixed, with Nifty IT index falling over 1 per cent while Nifty Metal index was up.
The second Covid wave has led to a sudden spike in India’s unemployment rate – it rose to 11.9% in May from 7.97% in the previous month. The rate had last reached double digits in June last year, when it was 10.18%. According to the Centre for Monitoring Indian Economy (CMIE) data, barring April, May and June last year, the monthly unemployment had never breached the double-digit mark at least since January 2016
ITC share price fell 2% on Wednesday morning to trade at Rs 210 per share, after the company reported a fall in fiscal quarter net profit, largely in line with expectations. ITC’s net profit in January-March quarter fell 1.28% on-year to Rs 3,748 crore. Profit fell despite a sharp 24% jump in gross revenue during the quarter. FMCG-to-hotels conglomerate ITC also announced a final dividend of Rs 5.75 per share, taking the total dividend for the full fiscal year to Rs 10.75 per share. Results were largely in line with estimates of analysts, who maintain a bullish outlook for the stock on the back of a healthy dividend yield and inexpensive valuation.
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Rupee which had appreciated more than 3% in the month of May, is signaling that it can again start depreciating in upcoming days due to MSCI Rebalancing outflow, rising crude price above $70 per barrel and RBI’s buying aggressively buying between 72.30 to 72.50 levels. The rising US 10-year Yield from 1.57 % to 1.62% have also kept rupee pair in pressure. Market now awaits India’s May month trade balance, which is expected to remain in deficit of $15.20 billion. The fall in import might offset a fall in valuation of export on stronger Rupee. But if trade deficit widens beyond $15.20 bn, then it could further pressurize on rupee. Given key points suggest that bottom for USDINR would be protected around 72.30-72.50 levels. There is strong resistance between 73.20 to 73.30 levels, which if the pair breaks, we may see the pair moving towards 74.00 to 74.20 levels in coming days. Amit Pabari, managing director, CR Forex Advisors
The Index has started on a soft note this morning. It has had a good rally up and perhaps there could be marginal profit booking and offloading of positions. However, the trend continues to remain positive and we should be heading to 15900-16000 as the next potential target. Since there is a good support at 15300, every dip or intra day correction can be utilized to accumulate long positions. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Gold prices fell in India on Wednesday on the back of muted international trends, where yellow metal retreated from a 5-month high on rise in bond yields. On MCX, gold August futures were trading Rs 67 or 0.14 per cent down at Rs 49,358 per 10 gram. While silver July futures were ruling at Rs 71,820 per kg, down Rs 428 or 0.59 per cent. In the previous session gold futures ended at Rs 49,425 and silver at Rs 72,248 per kg.
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The sectoral trend was mixed, with Nifty IT index falling over 1 per cent while Nifty Metal index was up
Stocks of Tech Mahindra, ITC, Housing Development Finance Corporation (HDFC), Kotak Mahindra Bank, ICICI Bank, HCL Tech, Infosys were among top index laggards
Power Grid Corporation of India, UltraTech Cement, NTPC, ONGC, Sun Pharma, Dr Reddy’s, Maruti Suzuki, HUL, RIL were among top Sensex gainers
BSE Sensex was trading 110 points or 0.21 per cent down at 51,825, while the broader Nifty 50 index gave up 15,550 and was ruling at 15,519
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BSE Sensex fell over 100 points to 51,790, while the broader Nifty 50 index was holding just above 15,500 in pre-opening session on Wednesday.
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After a strong uptrend rally from 14885 to 15660, the benchmark indices witnessed a narrow range activity near an all-time high level. However, the larger texture of the market is still on the bullish side and likely to continue in the near term. Among sectors, the move of the Nifty IT Index is encouraging and we suggest accumulating technology stocks for this month. The Nifty 50/ Sensex 30 Index has closed below 15600/52000 which indicates day traders may take a cautious stance near all-time high level.
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Motherson Sumi Systems, Muthoot Finance, Ranami Metals & Tubes, PVR, MTAR Technologies, Panacea Biotec, NRB Bearings, Dhunseri Ventures, among BSE-listed companies that are scheduled to announce their quarterly earnings on June 2.
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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel were kept unchanged on Wednesday across major cities. Petrol in Delhi today costs Rs 94.49 per litre, while diesel in the capital city costs Rs 85.38 litre today. So far, since May 4, rates have been hiked 17 times. Petrol price in Delhi has been increased by Rs 3.94 in May, while diesel price has surged Rs 4.47 per lire. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.
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Domestic equity markets snapped their gaining streak to end flat with a negative bias on Tuesday. S&P BSE Sensex settled at 51,934 while the 50-stock NSE Nifty ended the day at 15,574, after hitting a record high of 15,660 during the day. Broader markets fared worse on Tuesday while the volatility index surged higher. On Wednesday morning, SGX Nifty was in the red, hinting at a weak start for equity markets. Cues from global peers were mixed during the early hours of trade. However, on the charts, Nifty’s positive momentum has not been altered. “Tuesday’s consolidation movement has not changed the positive sentiment created in the market,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
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India’s petrol and diesel sales fell by about 17 per cent in May from a month ago as restrictions clamped to curb the world’s worst outbreak of coronavirus infections stifled demand. Sales of petrol — used in cars and motorcycles — fell to 1.79 million tonne in May, the lowest in a year, according to the preliminary data of state-owned fuel retailers.
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In overnight trade on Wall Street, the S&P 500 fell on Tuesday with declines in healthcare and tech shares. The Dow Jones Industrial Average rose 0.13 per cent, the S&P 500 lost 0.05 per cent, and the Nasdaq Composite dropped 0.09 per cent.
Asian peers were trading mixed in early trade with Japan’s Nikkei 225 gaining 0.22 per cent. The Topix index jumped over half a per cent. South Korea’s Kospi rose 0.25 per cent while Hong Kong’s Hang Seng index shed 0.36 per cent.
Nifty futures were trading flat with a negative bias at 15,624.50 on Singaporean Exchange.
The second Covid wave has led to a sudden spike in India’s unemployment rate – it rose to 11.9% in May from 7.97% in the previous month. The rate had last reached double digits in June last year, when it was 10.18%. According to the Centre for Monitoring Indian Economy (CMIE) data, barring April, May and June last year, the monthly unemployment had never breached the double-digit mark at least since January, 2016.
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