Sensex Today Live Updates: Benchmark indices pared early gains and declined for the fourth day running on Wednesday, with the Sensex falling 276.46 points amid selling in index majors Infosys and Reliance Industries. Foreign institutional investors remaining in selling mode and jump in crude prices also weighed on sentiment. Despite a firm start, the 30-share BSE Sensex failed to carry forward the momentum and ended at 54,088.39, lower by 276.46 points or 0.51 per cent. During the day, it tumbled 845.55 points or 1.55 per cent to 53,519.30.
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US stocks open lower as inflation data stokes rate hike concerns
- The Dow Jones Industrial Average fell 37.50 points, or 0.12%, at the open to 32,123.24.
- The S&P 500 opened lower by 10.97 points, or 0.27%, at 3,990.08, while the Nasdaq Composite dropped 92.10 points, or 0.78%, to 11,645.57 at the opening bell.
BITCOIN DROPS TO $29,011.10, LOWEST SINCE JUNE 2021
#MarketAlert | #Bitcoin extends loss to below $30,000 https://t.co/Cg46C4AiG6
— ET NOW (@ETNOWlive) 1652273738000
Market Movers: Adani Wilmar rebounds after 35% fall in 8 sessions
- Investors returned to lap up the shares following a correction in the stock. In eight sessions, wherein it touched the lower circuit for six, shares of Adani Wilmar tanked nearly 35 per cent.
- “Adani Wilmar aspires to become a leading packaged food and FMCG company in India and it gets significant benefit from its parent Adani Group and JV partner Wilmar International.
- The stock ended 5 per cent higher at Rs 612.
Nifty50 on Thursday fell for the fourth straight session and formed a Hammer-like candle on the daily chart that had a long lower wick, reflecting the intraday recovery. Such a candle has a bullish connotation if it is followed by a positive close in the next session, said analysts, who see immediate resistance in the 16,20-350 range and index support at 16,000.
Why are paint stocks falling?
— Antu Thomas, Senior Research Analyst at Geojit Financial Services
Investors continue to remain wary despite global markets trading in green due to drop in domestic investors confidence & FII selling. The market turned volatile waiting for the release of April US inflation data, which is expected to cool down marginally. Inflation will continue to be elevated but the chance of major reactions is low because it has been factored in by the markets. The major determinant for market direction would be the pace of decline in inflation in response to the Fed measures.
– Vinod Nair, Head of Research at Geojit Financial Services
Participants are closely eyeing the US inflation data for cues and we’ll see the reaction in early trades on Thursday. Though the Nifty index has rebounded after penetrating the crucial support zone of 16,000 for a brief, we believe banking holds the key to further rebound. Keeping all in mind, we recommend keeping a cautious stance and suggest preferring hedged positions.
– Ajit Mishra, VP – Research, Religare Broking
Tech view by Rupak De, Senior technical analyst, LKP Sec
Nifty recovered smartly from the day’s low before closing with a marginal loss. On the lower end, it found support at 16,000 as it closed at 175 points off the day’s low. On the daily chart, a large lower wick indicates buying at the lower level. On the higher end, the Nifty is likely to move towards 16400. On the lower end, support is seen at 16,100/15,950.
Indices displayed extreme volatility today ahead of the CPI & IIP data this week. While we did see a sharp recovery in indices during afternoon trade, the market breadth was very weak with several stocks in the broader market taking a big knock-on selling pressure as the small-cap index lost 3% today.
– S Ranganathan, Head of Research at LKP Securities
Sector Watch: Realty, private banks gain in a falling market
Top Nifty50 performers & laggards
Sensex Heatmap: Only 10 of 30 index stocks end in the green
CLOSING BELL: Sensex slips for 4th day, ends 276 pts lower; Nifty below 16,200; IB Housing plunges 21%, Ruchi Soya 10%
STOCK FOCUS: Ruchi Soya shares falls most in four weeks
Price as on 11 May, 2022 03:08 PM, Click on company names for their live prices.
MS cuts India’s FY23 growth forecast
Morgan Stanley cuts India's FY23 growth forecast to 7.6% from 7.9%
— Ajaya Sharma (@Ajaya_buddy) 1652259964000
Capital expenditure of tyre makers to rise to Rs 5,000 crore this fiscal: CRISIL
The capital expenditure of tyre makers is expected to increase to around Rs 5,000 crore this fiscal on the back of improving demand, as against around Rs 3,700 crore annually in the preceding two fiscals, according to a CRISIL report. The demand is likely to be driven by segments such as replacement, commercial and passenger vehicles (CVs and PVs), along with exports, the credit ratings agency said, adding that credit profiles of tyre makers are expected to remain “stable”.
Top 5 gainers on NSE in an otherwise weak market
Price as on 11 May, 2022 02:24 PM, Click on company names for their live prices.
Delhivery IPO subscription status: Issue receives 4% bids so far on Day 1
European stocks extend rebound ahead of U.S. inflation data
European shares rose on Wednesday, extending a rebound from two-month lows hit earlier this week, as investors awaited U.S. consumer price data for cues on whether inflation was peaking. The continent-wide STOXX 600 index rose 0.4% by 0715 GMT, with real estate leading morning gains. Data is expected to show U.S. consumer price index (CPI) cooled to 0.2% in April from 1.2% in March. Surging inflation has raised concerns that the Federal Reserve will raise interest rates aggressively.
NIFTY SLIPS BELOW 16,000 FOR THE FIRST TIME SINCE MAR 9
The deteriorating sentiment in equity markets is hurting the prospects of listing-bound companies and LIC is no exception. The insurance behemoth is signaling at a discounted listing, if one goes by the grey market premium. In the unofficial market, LIC is exchanging hands at a discount of Rs 20 per share over its issue price of Rs 949, which is merely Rs 25 away from the discount offered to retail bidders. LIC’s premium in the grey market dropped from Rs 100 to Rs 10 on Tuesday and then turned negative on Wednesday, just a day before allotment.
Market LIVE Updates: IB Housing, Welspun India, JSW Energy tank up to 17%
Price as on 11 May, 2022 01:03 PM, Click on company names for their live prices.
- Infosys rose nearly 15 per cent in a year compared to 10 per cent rise seen in Nifty50 but has been under pressure so far in 2022, data showed. The IT bellwether has fallen over 18 per cent since April, and over 20 per cent from its 52-week high of Rs 1,953 recorded on 17 January 2022 to Rs 1,553 recorded on 10 May.
- Slowing global economic growth and high attrition rates that will impact margins are some of the factors which are weighing on IT stocks, suggest experts. If the stock manages to hold onto crucial support levels of Rs 1,500, then a bounce back towards Rs 1,640-1,680 is possible, suggest experts.
BSE SMALLCAP index tanks over 3%, underperforms benchmark Sensex
Sensex Today LIVE: Index tanks 600 points on losses in Infosys, RIL
Adani Ports board meeting rescheduled to May 24; earnings were to come today
Adani Ports and SEZ has informed BSE that the meeting of the Board of Directors of the company is scheduled on May 24 to consider and approve the audited financial results for the quarter and year ended 31st March, 2022 and to recommend divided on equity shares, if any. The stock traded nearly 2% down.
Market LIVE Updates: Asahi Songwon board to consider buyback & dividend on May 19
Price as on 11 May, 2022 12:31 PM, Click on company names for their live prices.
Suzuki Motor FY23 sales in India are expected to rise 11% YoY: Informist
Price as on 11 May, 2022 12:21 PM, Click on company names for their live prices.
KALYAN JEWELLERS Q4 EARNINGS
- PAT: Rs 72 crore vs Rs 74 crore YoY
- Revenue: Rs 2857 crore vs Rs 3057 crore YoY
- Ebitda: Rs 218 crore vs Rs 288 crore YoY
New investor? Here’s what you can do to navigate market volatility
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Alembic Pharmaceuticals Ltd on Wednesday said it has received final approval from the US health regulator for its generic version of Arformoterol Tartrate inhalation solution indicated for long-term treatment of bronchoconstriction in patients with chronic obstructive pulmonary disease.
Price as on 11 May, 2022 12:01 PM, Click on company names for their live prices.
Venus Pipes & Tubes IPO sails through with 90 mins
The Rs 165.42 crore initial public offering of Venus Pipes and Tubes sailed through within the first 90 minutes of the bidding process on the first day…