India Finance News

Market LIVE Updates: Indices open firm; Bajaj Auto, TCS, Quess Corp, Vodafone in focus – Moneycontrol

June 23, 2022 / 09:20 AM IST

Gainers and Losers on the BSE Sensex in the early trade:

June 23, 2022 / 09:16 AM IST

Market Opens: Indian indices opened marginally higher on June 23 amid mixed global cues. 

At 09:16 IST, the Sensex was up 22.82 points or 0.04% at 51845.35, and the Nifty was up 13.20 points or 0.09% at 15426.50. About 1142 shares have advanced, 477 shares declined, and 101 shares are unchanged.

Hero MotoCorp, Bajaj Auto, Bharti Airtel, Wipro and Divis Labs were among major gainers on the Nifty, while losers were Apollo Hospitals, ONGC, Titan Company, Power Grid Corporation and SBI Life Insurance.

June 23, 2022 / 09:10 AM IST

Prashanth Tapse, Vice President (Research), Mehta Equities:

Indian equities may move in tandem with early gains in most of the Asian gauges, despite overnight fall in US markets and weak European markets closing. Boosting the sentiment would be a sharp fall in WTI crude oil prices, which eased more than 7% in overnight trades towards $102 a barrel, much below the RBI’s assumption of $105 a barrel for its full-year inflation projection. 

However, mounting concerns of rising US interest rates, rupee hitting fresh lows and unabated FII selling will continue to keep markets in a volatile mode. Also, the progress of the south-west monsoon in the country has been disappointing so far, which could further weigh on the already bearish sentiment.

June 23, 2022 / 09:08 AM IST

ICICI Direct

Indian markets are likely to open on a flat to positive note on the back of mixed global cues after Fed Chair Jerome Powell said the US central bank is “strongly committed” to fight inflation.

US markets ended marginally lower as traders reacted to Fed Chair Jerome Powell’s testimony before the Senate Banking Committee.

June 23, 2022 / 09:05 AM IST

Rupee Opens:

Indian rupee opened 13 paise higher at 78.25 per dollar on Thursday against previous close of 78.38.

June 23, 2022 / 09:02 AM IST

Market at pre-open: Benchmark indices are trading mixed in the pre-opening session.

At 09:02 IST, the Sensex was up 142.26 points or 0.27% at 51964.79, and the Nifty was down 93 points or 0.60% at 15320.30.

June 23, 2022 / 08:59 AM IST

Bond Yield Updates:

June 23, 2022 / 08:58 AM IST

Sugandha Sachdeva, Vice President – Commodity and Currency Research , Religare Broking:

The Indian rupee has slumped to a new record low against the US dollar after consolidating around the 78 mark for a while, amid the unabated outflows witnessed from the domestic equities and renewed strength in the greenback. The sentiments have taken a hit amid deteriorating global growth prospects and as the central banks look to act aggressively in their battle against inflationary forces.

Investors are seen flocking on to the safety of the US dollar as consumer price inflation in the UK has ticked to a new 40-year high of 9.1% last month. Meanwhile, market participants are looking forward to Fed Chair Powell’s two-day testimony to the Congress for further clues as to whether the US central bank is poised to deliver another large rate hike at its July meeting.This will provide further cues for the Indian rupee going forward, which is still finding a lot of cushion around the 78.50 mark.

June 23, 2022 / 08:56 AM IST

Anindya Banerjee, VP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities:
USDINR spot closed at an  all-time high of 78.39, up 31 paise. Risk off sentiments and plunging forward premium caused Rupee to weaken. With forward yields quoting at the lowest levels since November 2011, the risk of carry trade unwind and low exporter hedging can worry Rupee bulls.

Over the near term, we could see USDINR trade within a range of 78.00 and 78.60 levels, with an upward bias.

June 23, 2022 / 08:55 AM IST

RateGain Travel Technologies bags order

RateGain Travel Technologies has been selected by Posadas which owns Live Aqua, Grand Fiesta Americana, Fiesta Americana, The Explorean, IOH, Fiesta Inn, Gamma and one Hotels to provide business intelligence solutions, rate parity technology, and data intelligence to increase profitability and forecasting functionalities

June 23, 2022 / 08:53 AM IST

Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services: 

Equity markets reversed its initial week’s gains as investors worry over slower economic growth amidst rising inflation and rate hikes. Overall market trend remains weak hence we suggest to continue with ‘Sell on rise’ strategy for traders. 

The broader market too has been under pressure in the last few days on account of heavy FII selling. Concerns over premium valuation as well as higher impact of inflation on their profitability led to sharper fall in broader markets compared to large caps.

June 23, 2022 / 08:50 AM IST

Hot Stocks | Here is why you should bet on Birlasoft and Ipca Labs for short term

Birlasoft and Ipca Labs show bullish patterns on technical charts. Read on to know what Rohan Patil of Bonanza Portfolio suggests you should do.

Exit mobile version