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Market LIVE: Sensex gives up 50,000, Nifty falls below 14,750 on mixed global cues; HDFC Bank, Infosys drag – The Financial Express

Axis Bank, Sun Pharma, NTPC, UltraTech Cement, ITC, SBI were among BSE Sensex gainersShare Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading nearly one per cent down on the last day of the financial year 2021. BSE Sensex was hovering around 49,700, while Nifty 50 was ruling below 14,800.Top BSE Sensex draggers were HDFC Bank, Housing Development Finance Corporation (HDFC), Power Grid Corporation of India, ICICI Bank, Kotak Mahindra Bank, Tech Mahindra, Infosys, and ONGC among other top BSE laggards. On the flip side, shares of Bajaj Finsv, Hindustan Unilever Ltd (HUL), Axis Bank, Sun Pharma, NTPC, UltraTech Cement, ITC, SBI were among BSE Sensex gainers.Led by a record number of QIP issues and IPOs, the pandemic-hit FY21 has been the best for fundraising, with companies raising a record Rs 1,88,900 crore in public equity sales during the year, more than double of Rs 91,670 crore in the previous fiscal, according to a PTI report. According to data compiled by PRIME Database on Tuesday, the previous best was in 2017-18 when companies had mopped up Rs 1,75,680 crore.

Precious metals, particularly gold, are highly influenced by the incidence and intensity of geopolitical instability. That being so, after touching a low in 2016, gold has witnessed a relatively steady run up between 2017 and March 2020 due to a series of geopolitical tensions around the world. These included North Korean threats, the US-China trade war, sanctions on Iran, Brexit and others.

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The markets have reacted from yesterday’s high. 14950 is the key level to watch out for as that is the breakout level for the Nifty. If we can get past that, we should anticipate a target of 15200-15300. If we continue drifting downwards and break 14500, there is a chance we go back into bear grip. It is a crucial juncture and measures to manage risk must be prioritized.: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

Shares of Bajaj Finsv, Hindustan Unilever Ltd (HUL), Axis Bank, Sun Pharma, NTPC, UltraTech Cement, ITC, SBI were among BSE Sensex gainers

Top BSE Sensex draggers were HDFC Bank, Housing Development Finance Corporation (HDFC), Power Grid Corporation of India, ICICI Bank, Kotak Mahindra Bank, Tech Mahindra, Infosys, and ONGC among others

BSE Sensex fell 390 points or 0.78 per cent to 49,746, while the broader Nifty 50 index gave up 14,800, to trade at 14,743 on Wednesday.

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The Indian Rupee on Tuesday fell by 1.2% to close at 73.38 against the U.S. dollar- the steepest one-day drop since Feb. 26. The strength in US dollar and rise in US bond yield were also pressurizing on the EM currencies, but Rupee was an outlier with more than 4% rise for FY21 and seen trading near 72.30-40 for quite good time. However, fiscal year-end dollar demand from importers and suspected RBI intervention through PSUs for balance sheet valuation adjustment. Overall, Indian Rupee has started tracking its peer EM FX to compete strongly for exporter’s valuation. The focus shifts to Joe Biden’s announcement of $3 trillion in tax hike to fund his climate friendly infrastructure package. The recent parabolic move in US dollar index, rise in US bond yield and weakening EM fundamentals could drag Rupee further lower towards 73.70-74.00 in the near term. On contrary, it is not expected to appreciate beyond 72.80-73.00.: Amit Pabari, managing director, CR Forex Advisors

COMEX gold trades about 0.4% lower near $1680/oz after a 1.7% decline yesterday. Gold is pressurized by firmness in the US dollar and US bond yields, weaker ETF interest, upbeat Chinese economic data and general progress on the vaccine front. Rising virus cases and Fed’s dovish stance has failed to lend much support. Gold is likely to remain under pressure unless there is a sharp correction in US dollar or bond yields.: Ravindra Rao, VP- Head Commodity Research at Kotak Securities

BSE Sensex fell 86 points or 0.17 per cent to 50,050 in the pre-opening session on Wednesday.

BSE Sensex was trading flat with a positive bias, while the broader Nifty 50 index reclaimed 14,900 level in pre-opening session on Wednesday.

Check live Sensex, Nifty levels

In brief, on Wednesday, a closing of the Nifty above the level of 14930 would be positive for the market. On Tuesday, the strategy should be to buy if Nifty drops between 14750/14700 levels and for that we need to keep a stop loss at 14600. On Wednesday, we would see a rally in bank stocks, mainly because the Bank Nifty closed above the level of 33700. Bank Nifty can go up to 34500/34700 above the levels of 33700. If the Bank Nifty performs, the Nifty could move closer to 14900 and 15050 levels. On the other side, Nifty / Sensex would find major support at 14750 and 14600 levels.

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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel were unchanged today. The price of petrol and diesel fell across major cities yesterday after having remained the same for five consecutive days. Nation Capital Delhi was quoting a petrol price of Rs 90.56 per litre, diesel in the city was priced at Rs 80.87 per litre. Fuel prices remain the highest in Mumbai at Rs 96.98 per litre for Petrol. 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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Nifty futures were trading 40 points or 0.27 per cent down at 14,889 on Singaporean Exchange, suggesting a gap-down start for Sensex and Nifty on Wednesday. Market participants will continue to track COVID-19 cases, ongoing vaccination drive, movement in prices, rupee trajectory and other global cues. According to a technical analyst, Bank Nifty can go up to 34500/34700.

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Nifty futures were trading 40 points or 0.27 per cent down at 14,889 on Singaporean Exchange, suggesting a gap-down start for Sensex and Nifty on Wednesday

Domestic equity benchmark indices soared for the second day straight on Tuesday and managed to breach some crucial levels. S&P BSE Sensex now sits at 50,136 while the Nifty 50 is at 14,845. Broader markets gained but underperformed the benchmark indices. Volatility has slipped further but still remains above 20 levels. On Wednesday morning, SGX Nifty was flat, hinting at a muted start to the day’s trade. Global cues seemed mixed with Wall Street closing with losses but some Asian peers were seen gaining during the early hours of trade.

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Led by a record number of QIP issues and IPOs, the pandemic-hit FY21 has been the best for fundraising, with companies raising a record Rs 1,88,900 crore in public equity sales during the year, more than double of Rs 91,670 crore in the previous fiscal, according to a report.

Read full story

Markets in the outgoing fiscal year (FY21) have seen few losers as stocks rallied sharply from the lows of March 2020. The rally was propelled by several stocks that rose between 179.99% and 691.09%. Only two stocks from Nifty100 declined during the period.

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