Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading flat Tuesday on the back of weak Asian cues. BSE Sensex was hovering around 52,750, while Nifty 50 was ruling just above 15,800. Reliance Industries Ltd (RIL), Asian Paints, Larsen & Toubro, TCS, HCL Tech, NTPC were among top Sensex gainers. Tech Mahindra, Kotak Mahindra Bank, ICICI Bank, HDFC Bank, Infosys, Axis Bank, Bharti Airtel were among top index laggards. Nifty sectoral trend was largely negative with Nifty PSU Bank index top sectoral loser. Nifty Bank index was also down 0.60 per cent. While Nifty FMCG, Nifty Auto and Nifty IT indices were trading in green.
The government on Monday unveiled a package that consisted of steps to boost credit flows to multiple sectors, primarily MSMEs, small borrowers, healthcare providers and contact-intensive sectors such as travel and tourism. While the aggregate relief, as estimated by the government amounted to Rs 6.29 lakh crore, a sizeable chunk of Rs 2.68 lakh crore is credit to be facilitated.
Robust domestic macroeconomics could help NSE Nifty 50 scale 17,500 and take the S&P BSE Sensex to 58,300 as India’s economy recovers from the covid slump, said domestic brokerage firm ICICI Direct. “With the peak of the Covid resurgence behind us, increasing pace of vaccination domestically and calibrated state-specific unlocking underway, we expect economic activity to bounce back sharply in the remaining nine months of the financial year 2021-22,” the brokerage firm said in a report. Benchmark indices have already surged higher helped by strong corporate earnings. The target set for Nifty implies a 10% upside potential from current market levels.
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Gold prices were trading weak in India on Tuesday, as yellow metal in the global market eased on a firmer dollar. On Multi Commodity Exchange, gold August futures were trading Rs 76 or 0.16 per cent down at Rs 46,932 per 10 gram, as against the last close of Rs 47,008. Silver futures were ruling at Rs 68,937 per kg, down Rs 305 or 0.44 per cent, as compared to a previous close of Rs 69,233.
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On the flow side, FII seems booking their profit as indices retraced from an all-time-high in the recent days ahead of uncertainty on the COVID variant. This along with RBI’s unexpected move in their forex book towards month-end could call the volatility back in the USDINR pair. Overall, additional fiscal plan, stronger dollar demand and variant concern could pressurize on the Rupee in the near term. Broadly, we are expecting that it will be trading in the range of 73.50 to 74.50 in the near term before the above triggers take it towards 75.00-75.20 levels over the medium term. Amit Pabari, managing director, CR Forex Advisors
The much-awaited fiscal package was unveiled from Nirmala Sitharaman on Monday worth Rs 6.28-trillion focuses on healthcare, tourism, and small borrowers to keep the enterprises afloat in the aftermath of COVID 2.0 by extending the loan guarantee scheme and setting a cap to the borrowing cost. This is expected to provide a boost to the different sectors to stand on their own foot but from a government’s point of view, this will be an additional plan into their fiscal. Thus, given liquidity boosting measures will have a negative impact on the fiscal figure and slippage is likely to remain a big concern. Hence, rather than a welcoming move, we are seeing a slightly depreciating move in the Rupee. Amit Pabari, managing director, CR Forex Advisors
Nifty sectoral trend was largely negative with Nifty PSU Bank index top sectoral loser. Nifty Bank index was also down 0.60 per cent. While Nifty FMCG, Nifty Auto and Nifty IT indices were trading in green
Tech Mahindra, Kotak Mahindra Bank, ICICI Bank, HDFC Bank, Infosys, Axis Bank, Bharti Airtel were among top index laggards
Reliance Industries Ltd (RIL), Asian Paints, Larsen & Toubro, TCS, HCL Tech, NTPC were among top Sensex gainers
BSE Sensex was trading 36 points up at 52,772, while the Nifty 50 index was ruling flat above 15,800
BSE Sensex was up 72 points or 0.14 per cent at 52,807, while Nifty 50 index was trading flat with negative bias at 15,800
COMEX gold trades marginally lower near $1775/oz after a 0.2% gain yesterday. Gold is pressurized by stable US dollar, Fed’s monetary tightening concerns and drop in Chinese imports last month. However, supporting price is renewed virus concerns and mixed economic data from major economies. ETF inflows also showed some buying interest. Gold may remain range bound below $1800/oz until there is more clarity about Fed’s monetary policy stance. Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities
BSE-listed companies such as Finolex Cables, Hindustan Oil Exploration, Balmer Lawrie Investments, Indian Railway Finance Corporation, Kirloskar Electric Company, KRBL, Mahanagar Telephone Nigam, Nagarjuna Fertilizers and Chemicals, NBCC (India), Noida Toll Bridge Company, Omaxe, Ruchi Soya Industries, Rail Vikas Nigam, IRCTC, Sunteck Realty, Suzlon Energy, among others will announce their January-March quarter earnings on June 29.
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Foreign Institutional Investors (FII) were net sellers of domestic stocks on Monday, pulling out Rs 1,658 crore. Meanwhile, Domestic Institutional Investors (DII) were net buyers of Rs 1,277 crore worth of securities.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The price of Petrol and Diesel were hiked once again by the oil marketing companies. Petrol price in Delhi today stands at Rs 98.81 per litre, an increase of 35 paise. Diesel in the capital city is retailing at Rs 89.18 per litre today, up 28 paise since yesterday. Fuel prices have increased 32 times since May 4 and twice already this week. The price of petrol in Delhi has increased by Rs 8.12, while diesel price has surged Rs 8.76 per litre since the rates started increasing. 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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In overnight trade on Wall Street, the S&P 500 gained 0.23 per cent, the Nasdaq Composite rose 0.98 per cent, while the Dow Jones Industrial Average fell 150.57 points.
Asian stock markets were trading lower on Tuesday, even as the S&P 500 and Nasdaq Composite saw record closing highs on Wall Street. Japan’s Nikkei 225 fell 1.03 per cent in early trade while the Topix index shed 1.11 per cent. South Korea’s Kospi also declined 0.17 per cent.
Nifty futures were trading flat to negative, down just 4.50 points at 15,869.50 on Singaporean Exchange.
Domestic equity markets saw a volatile trading session on Monday, slipping from intra-day highs to closed with a negative bias. S&P BSE Sensex was down 189 points on the closing bell at 52,735 while the Nifty 50 index ended 45 points lower at 15,814. On Tuesday morning, SGX Nifty was down with marginal losses, signalling some negative momentum ahead of the opening bell. Cues from global peers were mixed. On the charts, Nifty stook looks strongly placed.
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Amid calls for a fresh relief package to soften the blow to the economy and people at large from the savage second Covid wave, the government on Monday unveiled a package that largely consisted of steps to boost credit flows to multiple sectors, chiefly MSMEs, small borrowers, healthcare providers and contact-intensive sectors such as travel and tourism. While the aggregate relief, as estimated by the government amounted to Rs 6.29 lakh crore, a sizeable chunk of Rs 2.68 lakh crore is credit to be facilitated.
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