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Market LIVE Updates: Nifty opens above 15,900, Sensex gains 300 pts; SBI, Tata Motors, L&T in focus – Moneycontrol

May 13, 2022 / 09:21 AM IST

Prashanth Tapse, Vice President (Research), Mehta Equities:
Markets are likely to see a gap-up opening today, mirroring sharp gains in other Asian indices that had otherwise come under severe bear hammering in past few sessions. However, caution will still prevail amongst the investors after the CPI inflation galloped to 8-year high of 7.79%. 

Hurting sentiments further is the fact that food inflation has jumped to 8.38% from 7.68% in March. This raises the odds of a rate hike in June by the RBI. So, investors need to brace for volatility in the near term amidst the likelihood of a back-to-back rate increase in June

May 13, 2022 / 09:19 AM IST

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

May 13, 2022 / 09:16 AM IST

Market Opens: Indian indices opened on positive note on May 13 with Nifty above 15900.

At 09:16 IST, the Sensex was up 480.23 points or 0.91% at 53410.54, and the Nifty up 164.30 points or 1.04% at 15972.30. About 1486 shares have advanced, 397 shares declined, and 72 shares are unchanged.

Tata Motors, Sun Pharma, Adani Ports, Eicher Motors and Hero MotoCorp were among major gainers on the Nifty

May 13, 2022 / 09:11 AM IST

Rupee Opens:

Indian rupee opened marginally higher at 77.35 per dollar on Friday against previous close of 77.42.

May 13, 2022 / 09:08 AM IST

Bajaj Finserv Chairman and MD Sanjiv Bajaj elected as new CII president

Sanjiv Bajaj, chairman and managing director of Bajaj Finserv has taken charge as president of the industry lobby group Confederation of Indian Industry (CII), replacing TV Narendran, CEO & managing director of Tata Steel

May 13, 2022 / 09:04 AM IST

Market at pre-open: Benchmark indices are trading firm in the pre-opening session amid positive Asian markets.

At 09:03 IST, the Sensex was up 301.30 points or 0.57% at 53231.61, and the Nifty was up 15.60 points or 0.10% at 15823.60.

May 13, 2022 / 08:59 AM IST

Results Today:

Results Today:

May 13, 2022 / 08:57 AM IST

Petrol, diesel prices Update:

Prices of petrol and diesel have remained steady for 37 days now. Since the end of a four-and-a-half-month long hiatus in rate revision on March 22, rates of petrol and diesel have been increased by Rs 10 per litre each via 14 revisions.

Fuel prices were last hiked on April 6 by 80 paise a litre each.

According to a price notification from fuel retailers, petrol in Delhi costs Rs 105.41 per litre and diesel Rs 96.67 per litre.

In Mumbai, petrol and diesel prices per litre are at Rs 120.51 and Rs 104.77 respectively. In Chennai, petrol costs Rs 110.85 per litre and diesel Rs 100.94 per litre. In Kolkata, petrol is at Rs 115.12 per litre and diesel Rs 99.83 per litre.

May 13, 2022 / 08:54 AM IST

Daily Voice | Interest rates may go up, but don’t expect much change in long-term G-Sec yields, says Rajiv Shastri of NJ Asset Management

Daily Voice | Interest rates may go up, but don't expect much change in long-term G-Sec yields, says Rajiv Shastri of NJ Asset Management

Even with slightly higher interest rates, there are still no viable long term investment options that are capable of beating inflation in a sustainable manner.

May 13, 2022 / 08:52 AM IST

Crude Oil Updates:

Oil prices firmed in early trade on Friday but were headed for their first weekly losses in three weeks as worries about inflation and China’s COVID lockdowns slowing global growth outweighed concerns about dwindling fuel supply from Russia.

Brent crude futures were up 97 cents, or 0.9%, at $108.42 a barrel at 0008 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed $1.00, or 0.9%, to $107.13 a barrel.

Both benchmark contracts were, however, on track to post declines for the week, with Brent set to drop more than 3% and WTI more than 2%.

May 13, 2022 / 08:49 AM IST

Gold Updates:

Gold prices on Friday were held near a three-month low as the strongest dollar in two decades continued to sap demand for greenback-priced bullion, setting up what could be the metal’s fourth consecutive weekly fall.

Spot gold was down 0.1% at $1,820.54 per ounce, as of 0054 GMT, having dropped to its lowest since Feb. 7 earlier in the session. U.S. gold futures fell 0.2% to $1,821.20.

May 13, 2022 / 08:46 AM IST