Sensex Today: Stock Market Crash LIVE Updates: Sensex dives 1,500 points on global selloff, Nifty below 15,850; all sectors in the red; VIX up over 8%
Sensex Today LIVE Updates: Indian stocks opened 2% lower on Monday, with the rupee hitting an all-time low as investors waited for inflation data later in the day, while global markets fell on fears of aggressive monetary tightening by the US Federal Reserve later this week. The Indian rupee hit a lifetime low at 78.28 against the dollar, while the benchmark 10-year bond yield hit 7.60%, its highest since February 28, 2019.
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Jeweler Rajesh Exports has agreed to invest $3 billion in India’s southern state of Telangana to build the country’s first electronic display factory, the state government said late Sunday. Stock up by 7%
Price as of June 13, 2022 11:55 a.mClick on company names for their live prices.
Investors fortune plunges above Rs 5.47 lakh Cr in early trade
Equity investors fell over Rs 5.47 lakh crore poorer in early trade on Monday amid an extremely weak trend in the broader market, with the Sensex plunging over 1,500 points. The 30-part BSE benchmark fell 1,568.46 points to 52,734.98 in early trade. The broader NSE Nifty fell 451.9 points to 15,749.90.
Market View: The current uncertain times are best suited to buy such quality stocks
— Santosh Meena, Head of Research, Swastika Investmart
The biggest risk for the market right now is DII selling, this could happen if FD rates spike to 8-9%.
– Ajay Srivastava of Dimensions Corporate Finance Services
Nifty50 stocks hit fresh 52-week lows amid stock market crash
NCLAT rejects Amazon’s objection to the suspension of the transaction with Future Group
The National Company Law Appellate Tribunal (NCLAT) dismissed Amazon’s appeal against the stay of the Future Group transaction and upheld the Rs. 200 billion fine imposed by CCI. She instructed Amazon to pay the amount within 45 days. Amazon can challenge the NCLAT decision in the Supreme Court.
BSE Bankex performs worst, Tanks above 3%
- All index components in the red
- Top drags from ICICI, Kotak and HDFC Bank
Market LIVE Updates: Nifty extends slide, nearing 15,750 mark
Following the gloomy cues from global markets amid a surge in US headline inflation, the Nifty has pulled back near the 15670-15750 support zone. This is a critical area of support for the index as it has held steady over the past three months. A break and sustainability below this zone would open the door for an extension of the decline towards 15000 levels. On the upside, 16000 is now becoming immediate resistance for the Nifty.
– Abhishek Chinchalkar, CMT Founding Owner and Education Leader, FYERS
Market LIVE Updates: LIC down 4% as anchor lockdown ends
Shares in India’s Life Insurance Corporation (LIC) fell for the 10th straight session on Monday. The 30-day lock-up period for anchor investors ended today and the stock is now down over 28 per cent from its issue price of Rs 949. Rs 949 apiece can sell their shares on the open market from Monday.
10-year bond yields hit over 3-year high
- The benchmark 10-year bond yield traded at 7.60%, the highest since February 28, 2019. The yield had ended at 7.52% on Friday.
The short-term market trend is weak. May’s US inflationary pressures of 8.6% vs. market expectation of 8.3% are likely to make the Fed more hawkish with a series of 50bps rate hikes that will take the final rate above 3.5% by mid-2023. Such a scenario would be negative for risky assets like equities, especially in the context of slowing global growth. The Indian market will not stabilize until the US market stabilizes. Therefore, investors can wait and watch until clarity about the market trend emerges. A bright spot is the 7.1% increase in IIP, indicating that the Indian economy is doing well. Therefore, long-term investors can take advantage of market declines to buy high-quality, economy-focused stocks such as capital goods, banks, telecoms, and export segments.
– dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Voda Idea, RBL Bank, YES Bank are among the most active stocks on the NSE
Price as of June 13, 2022 9:33 a.mClick on company names for their live prices.
Sensex Heatmap: Only 2 index stocks are trading positive
OPENING BELL: Sensex dives 1,300 points on global sell-off, Nifty below 15,850; RBL Bank crashes 10%
Weak global sentiment and weak Asian and European currencies have allowed the rupee to open below 78 after the RBI ensured it had not breached 77.70. Will have to watch RBI how it behaves over the next few days. Crude Oil is below 120 which is little consolation as Chinese demand and recession prospects worry investors. Exporters could sell near 78.20 as a 40 paise gap to the upside provides an opportunity. Importers will have to wait below 78.00 to buy their near-term imports.
– Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors
RECORD LOW | RUPEE DROPS ABOVE 78 A DOLLAR FOR THE FIRST TIME
Asian stocks plummet amid risks from US CPI
Asian equities fell and bond yields rose on Monday as blistering US inflation reignited concerns about even more aggressive Federal Reserve tightening and a COVID-19 warning from Beijing added to concerns about global growth. Chinese blue chips fell 0.84% and Hong Kong’s Hang Seng suffered a 2.9% drop. Japan’s Nikkei fell 2.78% and South Korea’s Kospi 2.78%.
The yen falls to a new 20-year low against the US dollar
The yen fell to a fresh 20-year low against the dollar on Monday, as hot-button US inflation data pushed up government bond yields, blunting a boost it was getting from speculation that Japanese authorities might step in to curb the to support currency. The dollar rose 0.43% on Monday to 135 yen, a 20-year high, and near a 2002 high of 135.20.
SGX Nifty signals a gap-down start
Nifty futures on the Singapore Stock Exchange traded 318.5 points, or 1.97 percent, lower at 15,866.50, suggesting Dalal Street was heading for a negative start on Monday.
Q4 results today
Rainbow Foundations, Aroma Enterprises (India), Corporate Courier & Cargo and Ind-Agiv Commerce are among the companies reporting quarterly results today.
Tech View: 16,000-16,400 expected near term range for Nifty
The bias should remain weak as long as the index stays below 16,400. On the lower end, support is at 16,200; a decisive break below 16,200 could trigger selling pressure in the market.
Oil slide on Beijing COVID alert, inflation worries
Oil prices slipped more than $2 on Monday as a flare-up of COVID-19 cases in Beijing dashed hopes of a quick recovery in China’s fuel demand, while worries about global inflation and economic growth continued to weigh on the market. Brent crude futures were down $2.06, or 1.7%, to $119.95 a barrel by 0033 GMT, while US West Texas Intermediate crude was at $118.54 a barrel, down 2.13 $ or 1.8%.
Tokyo stocks open lower on inflation concerns
Tokyo stocks opened on Monday as global inflation worries escalated on fresh US data, driving Wall Street lower, particularly on high-tech issues. The benchmark Nikkei 225 index fell 2.63 percent, or 731.04 points, to 27,093.25 in morning trade, while the broader Topix index fell 2.05 percent, or 39.86 points, to 1,903.23.
Wall Street suffers its biggest weekly loss since January
US stocks posted their biggest weekly percentage declines since January, closing sharply lower on Friday as a steeper-than-expected rise in US consumer prices in May stoked fears of a more aggressive rate hike by the Federal Reserve. The Dow Jones Industrial Average fell 880 points, or 2.73%, to 31,392.79; the S&P 500 lost 116.96 points, or 2.91%, to 3,900.86; and the Nasdaq Composite fell 414.20 points, or 3.52%, to 11,340.02.
The rupee slips 19 paise to 77.93 against the US dollar
The rupee fell 19 paise to close at a new lifetime low of 77.93 against the US dollar on Friday as rising crude oil prices and unabated foreign capital outflows weighed on sentiment. A sell-off in equity markets and a stronger overseas dollar also weighed on the domestic unit.
Sensex, Nifty on Friday
Buoyed by a sell-off in IT and banking stocks, the BSE benchmark Sensex cracked 1,016.84 points to close at 54,303.44. Its broader competitor, the Nifty 50, was down 276.30 points, or 1.68 percent, at 16,201.80. The index has recorded its worst week in a month.