Stock market highlights: Over 35 Nifty stocks ended the session in the red with Bajaj Finance, HDFC, Kotak Bank, Hindalco, Wipro, Reliance Industries, Tech M, and Infosys falling between 2.5-4%

MARKET LIVE: Sensex sheds 1,000 pts; Nifty below 16,250; RIL, Banks, IT dip

<b>CLOSING BELL<br />
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Stock market highlights:&nbsp;</b>Global doom rocked Indian equities on Friday as investors fretted over longer-than-expected sticky inflation, coupled with aggressive monetary policy tightening. Tracking losses in global peers, the benchmark S&P BSE Sensex plunged 1,114 points intra-day, before settling at 54,303, down 1,017 points or 1.84 per cent.<br />
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The NSE Nifty50, meanwhile, held the 16,200-mark to close at 16,202, down 276 points or 1.68 per cent. The index had hit a low of 16,173 during the day. In the broader market, the Nifty MidCap 100 and SmallCap100 fell up to 1 per cent.<br />
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<strong>ALSO READ: <a href="https://www.business-standard.com/article/markets/rs-2-7-trillion-investor-wealth-wiped-off-what-made-sensex-nifty-tumble-122061000283_1.html" target="_blank">Why did the Sensex fall on Friday?</a></strong><br />
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Over 35 Nifty stocks ended the session in the red with Bajaj Finance, HDFC, Kotak Bank, Hindalco, Wipro, Reliance Industries, Tech M, and Infosys falling between 2.5-4 per cent. The losses were trimmed by gains in Grasim Industries, Asian Paints, Apollo Hospitals, Divis Labs, and Dr Reddy&#39;s Labs, that gained over 0.5 per cent each.<br />
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Sectorally, all but Nifty FMCG ended the session in the red. The losses were led by the Nifty IT, Oil & gas, Private Bank, and Financial Services indices as they fell 2 per cent each.&nbsp;<br />
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<strong>ALSO READ: <a href="https://www.business-standard.com/article/markets/chris-wood-rejigs-india-equity-exposure-replaces-hdfc-with-hdfc-bank-122061000188_1.html" target="_blank">Chris Wood rejigs India equity exposure; replaces HDFC with HDFC Bank</a></strong><br />
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<strong>Global cues</strong>
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	European stocks fell further on Friday as investors digested the European Central Bank&rsquo;s latest policy meeting and looked ahead to a key US inflation print. The pan-European Stoxx 600 dropped 1.3 per cent in early trade, with banks shedding 2 per cent to lead losses.<br />
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	US stock futures were muted in early premarket trade on Friday, while shares in Asia-Pacific closed largely in the red.&nbsp;</div>

Stock market LIVE updates: Nifty, Sensex, BSE, NSE, US inflation, Bajaj Auto, India stock

Business Standard

Stock market LIVE updates: Nifty, Sensex, BSE, NSE, US inflation, Bajaj Auto, India stock | News on Markets - Business Standard

FIIs selling persistently: Rs 1,513 crores of shares sold on Thursday

White house expects US May inflation data to be elevated: Investing.com

<blockquote class="twitter-tweet">
	<p dir="ltr" lang="en">
		*WHITE HOUSE SAYS EXPECTS INFLATION NUMBERS TO BE RELEASED AT END OF WEEK TO BE ELEVATED <a href="https://t.co/m1YLjodg1O">pic.twitter.com/m1YLjodg1O</a></p>
	&mdash; Investing.com (@Investingcom) <a href="https://twitter.com/Investingcom/status/1534623260243017729?ref_src=twsrc%5Etfw">June 8, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

CRYPTO VIEW: Seeing short-term surges in market volatility

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	To deal with inflation, the ECB committed to a July rate hike (the first in over 10 years). BTC fell below the $30,000 level. Ethereum&rsquo;s recent upgrade - Ropsten testnet&rsquo;s transition to Proof-of-stake on Wednesday failed to move the alt coin&rsquo;s price.</div>
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	We are seeing frequent short-term surges in volatility as market participants are trading within in a tight range because they are unsure of how the crypto market would react to macro-economic conditions.</div>
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	While long-term holders are doubling down on their BTC investments, retail investors still remain risk-averse in the current market.<br />
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	Views by Darshan Bathija, CEO and Co-Founder of Vauld&nbsp;</div>
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Wage cost inflation may moderate IT players' profit margins by 1.5%

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	The shrinking will be over and above the narrowing of up to 3.50 per cent on the operating profit margin front for most IT companies in FY22. <a href="https://www.business-standard.com/article/companies/wage-cost-inflation-may-moderate-it-players-profit-margins-by-1-5-122061000043_1.html" target="_blank"><strong>Read here</strong><br />
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	<img alt="IT firms" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-04/29/full/1651170615-5114.jpg?im=Resize,width=640" /></a></div>

SGX Nifty trading with steep cuts; Nifty may open 200 pts lower

<div style="float: left;">
	<img align="left" alt="chart" class="imgCont" height="195" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-06/10/full/1654830849-8418.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="457" />
	<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px; width:457px;">
		source: investing.com</div>
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Rupee closes 3 paise weaker Thursday at 77.76/$

<div style="float: left;">
	<img align="left" alt="chart" class="imgCont" height="254" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-06/10/full/1654830677-5974.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="529" />
	<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px; width:529px;">
		source: bloomberg</div>
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Global update: China's producer price inflation moderates in May

<blockquote class="twitter-tweet">
	<p dir="ltr" lang="en">
		China&rsquo;s factory-gate inflation moderated in May as global commodity prices eased, while Covid restrictions kept consumer inflation in check <a href="https://t.co/HbrGbxBIqp">https://t.co/HbrGbxBIqp</a> <a href="https://t.co/Kob3bt3LAN">pic.twitter.com/Kob3bt3LAN</a></p>
	&mdash; Bloomberg (@business) <a href="https://twitter.com/business/status/1535087627157872654?ref_src=twsrc%5Etfw">June 10, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Oil prices off highs: Brent Crude at $122 a barrel

<div style="float: left;">
	<img align="left" alt="chart" class="imgCont" height="150" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-06/10/full/1654830229-3824.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="317" />
	<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px; width:317px;">
		source: oilprice.com</div>
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US equity futures hold tepid gains; May CPI eyed

<div style="float: left;">
	<img align="left" alt="chart" class="imgCont" height="97" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-06/10/full/1654829968-3954.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="580" />
	<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px; width:580px;">
		source: finance.yahoo.com</div>
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Asian markets trade lower in early trades as China inflation jumps in May

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	<img align="left" alt="chart" class="imgCont" height="222" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-06/10/full/1654829789-0915.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="554" />
	<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px; width:554px;">
		source: finance.yahoo.com</div>
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European markets end with steep cuts as ECB to begin rate hikes in July

The central bank also cut growth forecast and raised inflation estimate.&nbsp;<br />
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<div style="float: left;">
	<img align="left" alt="chart" class="imgCont" height="192" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-06/10/full/1654829415-0624.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="551" />
	<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px; width:551px;">
		source: finance.yahoo.com</div>
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US markets plunge on Thursday ahead of key inflation data

<div style="float: left;">
	<img align="left" alt="chart" class="imgCont" height="285" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-06/10/full/1654829265-7638.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="594" />
	<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px; width:594px;">
		source: Reuters</div>
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Sensex tanks 1,017 pts; Nifty holds 16,200; Bajaj Finance sinks 4%, RIL 3%