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
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Photo: Bloomberg
CLOSING BELL
Stock market highlights: Frontline indices extended its decline into fourth day as global mood turned cautious amid 40-year high inflation in the US. Market watcher now expect the US Fed to hike rate by as much as 100 basis points in July meeting. Even a decline in Brent crude oil price to three-month low couldn't lift the sentiment.
Stock market highlights: Frontline indices extended its decline into fourth day as global mood turned cautious amid 40-year high inflation in the US. Market watcher now expect the US Fed to hike rate by as much as 100 basis points in July meeting. Even a decline in Brent crude oil price to three-month low couldn't lift the sentiment.
The S&P BSE Sensex ended 98 points, or 0.18 per cent, lower at 53,416, while the Nifty50 index closed at 15,939, down 28 points or 0.18 per cent. In the broader market, the BSE MidCap and SmallCap indices slipped up to 0.56 per cent.
Axis Bank, HCL Tech, SBI, Tech M, TCS, Wipro, Infosys, and Ultratech Cement were the top large-cap laggards, while Barun Beverages, Oil India, Canara Bank, Mindtree, Birlasoft, and Ajmera Realty were the top draggers in the broader market.
Sectorally, the Nifty PSU Bank index declined 2 per cent, while the Nifty IT index eased 1.4 per cent. On the upside, the Nifty Pharma index added 0.78 per cent.
4:12 PM
Nifty tech view: Index remains below important moving average
The Nifty corrected towards the lower band of the rising channel before closing a bit off the day's low.
On the daily chart, the index has remained below the important moving average.
The daily RSI is in a bearish crossover. On the lower end, the index may find support at 15,850-15,875. On the higher end resistance is visible at 16,100.
Views by Rupak De, Senior Technical Analyst at LKP Securities
On the daily chart, the index has remained below the important moving average.
The daily RSI is in a bearish crossover. On the lower end, the index may find support at 15,850-15,875. On the higher end resistance is visible at 16,100.
Views by Rupak De, Senior Technical Analyst at LKP Securities
4:09 PM
Views by Vinod Nair, Head of Research at Geojit Financial Services.
Closing view: Higher-than-expected US inflation weighs on investor sentiment
Tracking weak cues in global markets, Indian indices gave away their initial gains amid concerns over higher-than-expected US inflation data.
Investors are increasingly expecting the Fed to carry out a minimum 75 bps rate hike this month in order to combat high inflation.
On the domestic front, India’s WPI inflation moderated in June although it remains at the elevated levels, but is expected to ease further during the year.
Investors are increasingly expecting the Fed to carry out a minimum 75 bps rate hike this month in order to combat high inflation.
On the domestic front, India’s WPI inflation moderated in June although it remains at the elevated levels, but is expected to ease further during the year.
Views by Vinod Nair, Head of Research at Geojit Financial Services.
4:07 PM
Rupee closes at record low of 79.88/$
Rupee had hit the 80/$ mark earlier in the session.
4:04 PM
Hindustan Zinc adds 4% as board approves dividend of Rs 21 apiece
4:02 PM
Market breadth favours losers by slight margin
4:01 PM
Sanofi to consider special dividend on July 20; stocks gains 1%
3:59 PM
BSE oil index moves 1.7% up; govt may consider lowering windfall fuel tax tomorrow
Govt to consider lowering windfall taxes on fuels, oil on July 15: TV reports
3:55 PM
Mazda rises 1% on starting production at new factory in Ahmedabad
3:52 PM
JSW Energy gains 1.7% as arm receives 300MW project from Solar Energy Corp
3:48 PM
Pharma, Auto, oil & gas packs defy trend; PSBs, IT top sectoral losers
3:45 PM
Broader markets close with sharper cuts vs benchmarks
3:44 PM
Nifty losers: Axis Bank, HCL Tech, Tech M, Hero Moto top drags
3:42 PM
Nifty winners: Sun Pharma, Dr Reddy's, ONGC rally
3:41 PM
Sensex Heatmap: Winners-losers split in half; Axis Bank top loser
3:39 PM
Closing Bell: Nifty closes below 15,950; 29 index shares decline
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
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First Published: Jul 14 2022 | 8:14 AM IST
