Sensex slips 94 pts, Nifty holds 16,550; Oil India soars 11%, LIC falls 3%

CLOSING BELL: nfosys, ICICI Bank, Kotak Bank, ITC, and Tata Steel were the large-caps that helped the 30-pack index bounce back from lows

11:19 AM

Q&A :: I don't see another major FII-driven sell-off, says Centrum Broking's Maheshwari

Markets will continue to remain volatile in the near future since there are a number of factors at play. The Russia-Ukraine war is still inconclusive, with neither country backing down, leading to a surge in energy prices across the globe. Even before the war started, inflation in many countries had been rising due to supply-demand imbalances during the pandemic, prompting a tightening of monetary policy. READ FULL INTERVIEW HERE

11:05 AM

ALERT: DCGA levies fine of Rs 10 lakh on SpiceJet; mandates 90 pilots to undergo re-training for MAX aircraft

chart

10:52 AM

Electric vehicles to drive auto capex up by Rs 70,630 crore in 5 years

The auto component industry, which has traditionally relied on engine parts for the bulk of its business, is ready for the electric shift. Read here

10:43 AM

Bond markets :: Ahead of RBI policy, 10-year bond yield hits 7.5%

>> Yield at this level for the first time since 2019

10:35 AM

Oil India surges 5%, nears 52-week high in a weak market; ONGC up 2%

Oil prices rose more than $2 in early trade on Monday after Saudi Arabia raised prices sharply for is crude sales in July. Read more

10:21 AM

Gold prices down by Rs 10 on RBI rate hike fears, silver remains unchanged

Gold prices remained vulnerable to the expected rate hike by the Central Bank as the monetary policy committee review is due this week. READ HERE

10:19 AM

BS SPECIAL :: What should investors keep in mind as RBI MPC meets?

10:12 AM

LIC hits new low since listing; market cap falls below Rs 5 trillion

Since listing, LIC has lost Rs 56,000 crore of market-cap from Rs 5.54 trillion to 4.98 trillion. READ HERE

10:02 AM

TECH VIEW ON CRYPTO: Hourly trend for Bitcoin breaks above triangle pattern

Bitcoin finally ended the week in green after closing lower for 9 consecutive weeks. BTC has gained over 3% since last night, edging above $31,000.

The hourly trend for Bitcoin has broken above the triangle pattern.

The next resistance for BTC is expected at $40,000 and an immediate support is expected at $26,800.

The market sentiment, however, continues to remain grim hovering in the “extreme fear” zone. 

 

Ethereum against Bitcoin remained fairly neutral over the past week even though Bitcoin’s dominance index continued to reach new highs in over 7 months.

The Ethereum price has been positive in the last two days. According to Glassnode, the total value staked In ETH 2.0 deposit contract has risen to new highs as the Ethereum Merge nears its date.

The daily chart for ETH-BTC continues to traverse within a descending channel pattern. The next support for ETH-BTC is expected at 0.055 level. 

Source: WazirX Trade Desk 

9:50 AM

Market view: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

>> The market mood has turned a bit cautious with better than expected US jobs data ( 3.90 lakh jobs)  in May. This good economic news is negative from the market perspective since it means the Fed is likely to tighten aggressively without bothering about a possible recession.

 

>> For India elevated crude prices and a $23 billion trade deficit in May are areas of concern. Even though FPI selling has come down in early June they are likely to sell more at higher levels. The dollar index above 102 is negative for EM equity. The positive factor for India is the DIIs and retail investors consistently buying the dips.

9:46 AM

Sensex extends slide to over 400 points; only 5 stocks hold the fort

9:40 AM

Nifty Media down over 2%; Network18 at bottom of the heap

9:35 AM

Reliance Infra declines 2% despite board's plan to fund raise via FCCBs

9:32 AM

Coal India slips 1% as fuel supplies to power plants drop in May

9:28 AM

Opening bell: Tech Mahindra, BPCL, Hindalco top Nifty50 losers