Sensex down for 4th day, dips 98pts; Nifty below 15,950; PSB, IT worst hit
CLOSING BELL: Axis Bank, HCL Tech, SBI, Tech M, TCS, Wipro, Infosys, and Ultratech Cement were the top large-cap laggards
 "markets")
Photo: Bloomberg
1:51 PM
Expert tak :: 'Food inflation will continue to inch higher due to accelerating vegetable prices'
While the easing of many of the global commodity prices is a comforting factor, volatile crude oil prices and the weakening of rupee against dollar continue to pose an upside risk to the wholesale inflation number. Food inflation will continue to inch higher due to accelerating vegetable prices. Consequently, we expect WPI to remain in double-digits till the second quarter of this fiscal.
Views by: Rajani Sinha, Chief Economist, CARE Edge
Views by: Rajani Sinha, Chief Economist, CARE Edge
1:47 PM
Global Check:: Key US stock futures down around 0.5 per cent each
Source: Investing.com
1:40 PM
BSE 500:: Stocks falling significantly from the highs of the day
Adani Green has slumped over 10 per cent from its high of the day so far. Similarly, Brightcom Group, Mindtree, Carborundum Universal and Orient Electric were some of the other prominent stocks to lose notable ground from the highs of the day on Thursday. VIEW MORE
1:35 PM
Expert take :: 'Increasing food prices hav become the major driver of inflation'
While the WPI inflation eased out slightly to 15.18% in June in comparison to 15.88% in May, it remains at elevated levels mirroring the macroeconomic scenario across the globe.
The most notable is an increase in the WPI food index from 10.89% in May to 12.41% in June, which indicates that the central government took the right call of banning wheat exports.
On the other hand, the decline in manufactured product inflation indicates that industry-level supply issues are inching towards resolution.
Increasing food prices across the globe have now become the major driver of inflation ahead of energy prices. Also, food production and supply have a longer cycle and therefore it may persist for more time.
Given that India is a major food producer, it is much better placed to tide over this challenge.
We continue to expect a higher level of inflation at least in this calendar year and therefore central banks around the world, are likely to continue raising policy rates and even accelerate the same to keep the economy in balance.
Views by: Mohit Ralhan, Managing Partner, TIW Capital Group
The most notable is an increase in the WPI food index from 10.89% in May to 12.41% in June, which indicates that the central government took the right call of banning wheat exports.
On the other hand, the decline in manufactured product inflation indicates that industry-level supply issues are inching towards resolution.
Increasing food prices across the globe have now become the major driver of inflation ahead of energy prices. Also, food production and supply have a longer cycle and therefore it may persist for more time.
Given that India is a major food producer, it is much better placed to tide over this challenge.
We continue to expect a higher level of inflation at least in this calendar year and therefore central banks around the world, are likely to continue raising policy rates and even accelerate the same to keep the economy in balance.
Views by: Mohit Ralhan, Managing Partner, TIW Capital Group
1:28 PM
Banks' asset-quality risk to be moderate after RBI rate hike: Fitch Ratings
'Mounting repayment pressure for some borrowers amid India's interest rate hikes, particularly for micro, small and medium-sized enterprises, will test banks' loan underwriting quality'. READ MORE
1:21 PM
NEWS ALERT :: Maharashtra to cut VAT on fuel
1:17 PM
ALERT :: Govt to consider lowering windfall taxes on fuels, oil on July 15
Source: Agencies
1:16 PM
TCS hits 52-week low; slips 9% in one week on Q1 margin disappointment
HSBC Securities believe relative premium to the market and likely slowdown in revenue growth will continue to restrict upside for IT stocks in the near term. READ MORE
1:07 PM
India can weather turbulence without damage to credit ratings: S&P
India is likely to lead the region with 7.3 per cent growth in 2022-23 after the GDP grew 8.7 per cent in 2021-22, said the rating agency. READ MORE
12:57 PM
With rupee at new low, Indian bonds may be worst hit if recession grips US
Indian bonds have declined in tandem with a slide in the rupee. The currency is now hovering close to a record low against the dollar as elevated commodity prices stoke inflation and boost the subsidy. READ MORE
12:56 PM
Led by new-gen investors, mobile trading accounts for a fifth of trades
A new generation of investors has taken to stock trading on mobile phones with a renewed zeal, driven mainly by social changes after the Covid-19 pandemic breakout. READ MORE
12:48 PM
Sensex 30 Heatmap:: Sun Pharma, Kotak Bank gain; Axis Bank, SBI slip
12:40 PM
CRISIL, Icra, CARE: Major hurdles yet to be conquered by rating agencies
Despite the 15 per cent rally on Wednesday, CARE Ratings still trades 38 per cent lower from its 52-week high; Similarly, CRISIL and ICRA too are down 14 per cent from their respective 52-week highs. READ MORE
12:34 PM
Expert take :: 'June WPI inflation is no consolation'
12:26 PM
Asian Markets Update:: A mixed outing
Source: Yahoo Finance
Topics : Sensex MARKET LIVE MARKET WRAP Nifty BSE NSE Indian markets Q1 results Midcap smallcap stocks IT stocks auto stocks FII flows Crude Oil Price stock market investing Trading strategies MindTree L&T Infotech
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Jul 14 2022 | 8:14 AM IST
