Sensex falls 153pts; Nifty below 15750; Bajaj Auto dips 5%, Adani Ent up 6%

CLOSING BELL: Select IT, metals, and pharma stocks helped the headline indices recover from the day's low

CLOSING BELL

Stock market highlights: Indian equities ended lower for a third straight day on Tuesday as investors anticipated aggressive rate hikes by central banks, including the US Federal Reserve, to tame multi-year high inflation. India's wholesale price index (WPI) inflation, too, climbed to 15.8 per cent in May, its highest level since 2012.

Against this backdrop, the benchmark S&P BSE Sensex swung in a range of 636 points before settling at 52,694, down 153 points or 0.29 per cent. The NSE Nifty50, meanwhile, shut shop at 15,732, down 42 points or 0.27 per cent. The index hit a high of 15,858 and a low of 15,659 in the intra-day trade.

ALSO READ: Five Sensex stocks have shed over 30% since Oct 2021. Time to bottom fish?

Select IT, metals, and pharma stocks helped the headline indices recover from the day's low. Overall, these indices ended higher in the range of 0.15 per cent to 0.9 per cent on the NSE. 

In the broader markets, the Nifty SmallCap index fell 0.23 per cent, while the Nifty MidCapp index shed 0.14 per cent.

ALSO READ: Fitch expects RBI to raise interest rates to 5.9% by December-end

Buzzing stocks

Bajaj Auto was the top Nifty laggard, sliding 7 per cent in the intra-day trade, as its Board decided to defer decision on Buyback proposal. READ MORE

That apart, shares of oil marketing companies (OMCs) were under pressure on Tuesday as Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) hit their respective 52-week lows, while Indian Oil Corporation (IOCL) dipped 3 per cent on the BSE in intra-day trade. READ MORE

On the upside, shares of Adani Enterprises (AEL) jumped 6.6 per cent to Rs 2,220 on the BSE in Tuesday's intra-day trade after Adani and TotalEnergies of France entered into a new partnership to jointly create the world's largest green hydrogen ecosystem. READ MORE

4:18 PM

Closing view: Market restrained selloff as CPI moderated in May

Domestic market restrained from heavy sell-off as CPI data moderated on an MoM basis and this had a calm down effect amidst global volatility

However, elevated WPI data continued to dominate the broad market, which is cautious awaiting tomorrow’s outcome of Fed policy.

Earlier the global market was anticipating a 50bps hike but now is worried about a higher rate hike due to persistent US inflation.

Views by Vinod Nair, Head of Research at Geojit Financial Services

 

4:15 PM

Nifty technical view: The trend is likely to remain sideward in the short-term

The Nifty started the day on a negative note on Tuesday and remained mostly sideward during the day.

On the lower end, it found support at the historical swing low and before closing a bit higher. The daily RSI is in the bearish crossover.

The trend is likely to remain sideward in the short term. On the lower end, support is visible at 15,650. On the higher end, resistance is placed at 15,900/16,000"

Views by Rupak De, Senior Technical Analyst at LKP Securities

4:10 PM

Rajnish Wellness locked at 5% upper circuit as board approves stock split & bonus issue

4:07 PM

WPIL gains 1.7% on order-win worth Rs 430.87 crs

4:05 PM

Buzzing stock: Torrent Power ends 3% up on completing buyout of solar plant from SkyPower Group

4:02 PM

Bajaj twins, Asian Paints, Gland Pharma, Godrej Prop hit 52 week-lows

check full list

3:59 PM

Rupee pares losses to close at 78.01 vs dollar

 

3:57 PM

Sectoral trends: IT, Pharma, Realty, Metals end higher; Oil & Gas sinks 1.2%

3:53 PM

Broader markets: SmallCaps underperform benchmarks

3:51 PM

Nifty top losers: Bajaj Auto sinks 5% in fag-end on deferring buyback

3:50 PM

Nifty top winners: NTPC, Airtel, Divis Lab gain 1.5-2%

3:45 PM

Sensex Heatmap: Winners-losers split in half; Reliance slips 1.3%

3:40 PM

Closing Bell: Nifty holds 15,700; down 120 pts from day's high

3:35 PM

Closing Bell: Markets decline for 3rd day; Sensex sheds 153 pts in volatile session

3:28 PM

Bajaj Auto defers share buyback proposal; stock dips 7%

Bajaj Auto said that the board has decided that further deliberations are required in order to take a decision on the proposal of buyback. Read more