Sensex down 1457pts, Nifty gives up 15800 on global rout, ahead of CPI data
CLOSING BELL: The top laggards were Bajaj Finserv, IndusInd Bank, Bajaj Finance, Hindalco, Tech M, Tata Motors, ICICI Bank, Adani Ports, NTPC, and TCS
1:59 PM
MARKET CHECK :: Nifty slips below 15,700
1:52 PM
MARKET CHECK: Over 1,600 points downfall for Sensex
1:44 PM
Financial health of discoms hurdle for renewable energy sector: Moody's
The payment delays to the state-owned distribution companies are common, leading to a build-up of receivables from off-takers and an increase in working capital debt for renewable energy companies. READ HERE
1:43 PM
MARKET COMMENT :: US bond action makes a case for a sharp downturn in equities
The US Inflation rate came in at 8.6% which is a 40-year high. US 10 year bond yields are ~3.187. Hence there is a huge gap of ~5.4% between the two. In order to bridge the gap, the central banks have to tame inflation by increasing interest rates. If the 10yr Bond yields in US increases to 5%, we would see balance sheets getting starched for many companies.
The yields on US 2-year Treasuries have past 3% and now are trading at the highest level since 2007, and it's gap with the 10-year yields is now less than 5bps, making a case for a sharp downturn in the equities.
In the last 100 years, almost all recessions have been preceded by a rising US$, rising Interest rates and rising crude oil prices. Even this time the scenario is the same.
Tech outlook
If we look at the technical chart of Nifty, it has given a breakout from a bearish flag pattern on the daily time frame and has come close to an important support of 15670 levels. If the index breaks this level, it would lead to a continuation of the lower-high and lower-low pattern on the weekly timeframe indicating bearish bias for the medium term. We expect it to slide down below 15000 levels if the support is broken.
Nifty Bank has formed a symmetrical triangle pattern on the daily chart and is near the previous swing low of 33000. If there is a breakdown from the pattern, which is likely to be the case, we can expect Nifty bank to reach 30000 levels as well.
Views by: Sandeep Bhardwaj, CEO, IIFL Securities
The yields on US 2-year Treasuries have past 3% and now are trading at the highest level since 2007, and it's gap with the 10-year yields is now less than 5bps, making a case for a sharp downturn in the equities.
In the last 100 years, almost all recessions have been preceded by a rising US$, rising Interest rates and rising crude oil prices. Even this time the scenario is the same.
Tech outlook
If we look at the technical chart of Nifty, it has given a breakout from a bearish flag pattern on the daily time frame and has come close to an important support of 15670 levels. If the index breaks this level, it would lead to a continuation of the lower-high and lower-low pattern on the weekly timeframe indicating bearish bias for the medium term. We expect it to slide down below 15000 levels if the support is broken.
Nifty Bank has formed a symmetrical triangle pattern on the daily chart and is near the previous swing low of 33000. If there is a breakdown from the pattern, which is likely to be the case, we can expect Nifty bank to reach 30000 levels as well.
Views by: Sandeep Bhardwaj, CEO, IIFL Securities
1:34 PM
Rajesh Exports will invest $3 bn to set up India's first e-display plant
Jeweller Rajesh Exports has agreed to invest $3 billion in Telangana state to set up the country's first electronic-display plant, the state government said late on Sunday. READ MORE
1:26 PM
Reliance Infra to receive Rs 595 cr from Damodar Valley Corp by July end
Reliance Infrastructure Limited (Reliance Infra) is set to receive a sum of Rs 595 crore from Damodar Valley Corporation (DVC) by July 31. READ MORE
1:19 PM
BSE 500:: Volume Shockers
KEI Industries has seen unusually high volume of around 2.33 lakh shares so far on the BSE as against the five-day average volume of around 10,100-odd shares. Similarly, HDFC, Anupam Rasayn, ZF Commercial and Jyothy Labs were some of the other notable stocks to witness unusual volume in trades on Monday. VIEW ALL
1:09 PM
BSE 500:: Stocks recovering smartly from the lows of the day
TTML has zoomed over 10 per cent from the lows of the day so far on the BSE. Rajesh Exports, Indostar Capital, KSB and V-Mart Retail have also gained considerable ground from their respective lows. VIEW ALL
12:55 PM
Marathon Nextgen hits 4-year high in a weak market; zooms 63% in one month
In the past six months, the stock price of Marathon Nextgen has rallied 85 per cent as against 9 per cent decline in the S&P BSE Sensex index. READ MORE
12:46 PM
Global Check:: S&P 500, Nasdaq futures down up to 2%
Source: Investing.com
12:37 PM
Sensex, Nifty headed towards 100-WMA; more pain ahead for markets?
The 100-WMAs hold the key for the Sensex and Nifty; Only a decisive breakdown of the same could mean medium-term bearishness for the benchmark indices. READ MORE
12:31 PM
S&P BSE Sensex 30 Heatmap:: Bajaj twins crack over 5 per cent each
12:17 PM
S&P BSE Sensex languishes with huge loss, down 1,420 points
12:08 PM
Asian Markets Update:: Major indices crack up to 3%
Source: Yahoo Finance
11:59 AM
Bajaj Finance, Tata Steel, UltraTech Cement, Shree Cement hit 52-week lows
A total of 46 stocks from the Nifty500 index also hit their respective 52-week lows on the NSE today including Astral, Birla Corporation, CSB Bank, LIC Housing Finance, SpiceJet. READ MORE
Topics : Sensex MARKET LIVE MARKET WRAP Nifty NSE BSE Stock to watch Buzzing stocks Market trends India inflation US Inflation US Fed interest rate Indian markets defence stocks Viacom18 zee M&M Dhanlaxmi Bank Vedanta Maruti Suzuki India
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First Published: Jun 13 2022 | 8:16 AM IST