Sensex Today: Stock Market LIVE Updates: Sensex Slips Below 59K; Skilled Tests 17,550; Airtel drops 2% post-block deal; IT, Banks were the worst performing sectors
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Sensex outside daily low is trading above 59,000
Spandana Sphoorty Financial authorizes the issuance of NCDs worth up to Rs 40 crore
Price from 07.09.2022 11:37 a.mClick on company names for their live prices.
The rupee slips towards 80/dollar while the yuan falls
The partially convertible rupee fell 0.1% to 79.9250 by 0445 GMT as the dollar index climbed back to a 20-year high after strong US services data suggested the Federal Reserve is continuing its aggressive rate-hiking path.
The yuan weakened to 7 per dollar despite efforts by the People’s Bank of China to revive the ailing currency, but data showing the country’s exports missed estimates in August further clouded sentiment.
HAL rises as company says it produced gas turbines for INS Vikrant
Price from 07.09.2022 11:16 a.mClick on company names for their live prices.
Explained: Is India decoupling from the global economy?
#CLOCK | As inflation cools & growth indicators for India look upbeat, the US is on the brink of recession… https://t.co/5XyRlW2oBY
— ET NOW (@ETNOWlive) 1662529354000
Market Live Updates: DreamFolks slides after a dreamy debut on Tuesday
Citigroup has initiated coverage of Star Health with a Sell rating and a price target of Rs.670
Price from 07.09.2022 11:10 a.mClick on company names for their live prices.
How FIIs invested Rs 51,000 crore in Indian equities in August. Here are the dates
When foreign institutional investors or FIIs began to bet big on India in August with aggregate share purchases in excess of Rs 51,000 crore a month, banks and financial services firms proved to be the preferred stocks. NSDL data shows that FIIs invested a total of Rs. 12,636 crore in August, followed by Rs. 8,509 crore in healthcare, Rs. 5,655 crore in consumer services and Rs. 3,736 crore in autos and auto components.
To help energy-poor Bangladesh, Asia’s richest man Gautam Adani has laid out a plan to start exporting electricity from a coal-fired power station in Jharkhand to the South Asian nation before the end of the year.
Price from 07.09.2022 10:39 a.mClick on company names for their live prices.
Market Live Updates: Lupine and DKSH sign an exclusive license and supply agreement to commercialize five biosimilar candidates in the Philippines
Price from 07.09.2022 10:34 a.mClick on company names for their live prices.
Kotak Securities’ Sanjeev Prasad Bullish on Banks; here’s why
#BeatTheStreet | Sanjeev Prasad from @kotaksecurities says: “Banks’ valuations are reassuring
— ET NOW (@ETNOWlive) 1662524146000
Gold barely holds Rs 50,000; Silver continues to lose its luster
- Gold prices fell sharply on Wednesday thanks to rising bond yields and a firm US dollar. In addition, economic data bolstered expectations of another rate hike by the US Federal Reserve.
- Gold futures on MCX were trading down 0.51 per cent or Rs 256 at Rs 50,025 per 10 grams. However, silver futures fell 0.79 per cent or Rs 419 to Rs 52,727 per kg.
- Patnaik, Head – Commodities, Axis Securities, said the rise in dollar index and bond yields has seriously hurt gold prices due to a greater likelihood of a 75 basis point rate hike by the Fed.
RBI continues to sell dollars to stem rupee decline. All eyes will be on the European Central Bank (ECB) meeting as a 75 basis point rate hike to bring down inflation is discussed.
– Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors
Market Live Updates: IT Stocks Among Worst Performers in Today’s Trading
Price from 07.09.2022 10:07 a.mClick on company names for their live prices.
Bitcoin Slips Below $19,000; Polygon & Polkadot lose 9% each
Market assessment: Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
If global stocks correct, India will correct as well. But India will fall less as falling crude oil, decent economic growth, impressive corporate earnings and retail investor enthusiasm will support the market at lower levels. Domestic-related segments such as banks, autos, capital goods, telecoms and FMCG are relatively strong sectors.
Airtel, Yes Bank, Voda Idea are among the most active stocks on the NSE
Price from 07.09.2022 09:28 amClick on company names for their live prices.
Bharti Airtel: 1.9% shares traded in a block deal
- SingTel was to sell a 3.3% stake in Airtel to Bharti Telecom
OPENING BELL: Sensex down 400 points, Nifty down 17,550; IndusInd Bank and HCL Tech each fall 1%
BROKERAGE RADAR | MORGAN STANLEY ON FINANCES
- Prepare for the second stage of the reevaluation cycle
- Strong balance sheets and easing macro concerns are the key positives
- Raise estimates and price targets across the sector
- Prefer ICICI Bank, Axis Bank, Bank of Baroda and SBI
- ICICI Bank price target increased to Rs 1225/sh
- Price target increased to Rs 1000/sh for Axis Bank
- Bank of Baroda price target increased to Rs 170/sh
- Target price increased to Rs 675/sh for SBI
BROKERAGE RADAR | MORGAN STANLEY ON INDIA’S CAPEX
- Supply-side factors are on the cards for an investment push
- India’s upcoming investment cycle implies that we are in the midst of a strong earnings cycle
- Robust demand conditions to allow an increase in the investment rate
- Do you think the win cycle is likely to have more legs
- See positive impact on industrial and financial stocks
- Overweight Larsen & Toubro, HAL, BEL, ICICI Bank and SBI (ET NOW)
Asian stocks are trading lower
Big Asian stocks started sharply lower on Wednesday morning, extending their losing streak to a fifth day after another decline on Wall Street amid fears central banks will hike interest rates for some time to quell inflation.
Oil falls on renewed demand concerns and rate hike expectations
Oil prices fell on Wednesday as COVID-19 contained China’s top crude importer and expectations of further rate hikes fueled concerns about a global economic recession and slower fuel demand growth.
SGX Nifty signals a negative start
Snifty futures on the Singapore Stock Exchange traded 202.5 points, or 1.15 percent, lower at 17,472.50, suggesting Dalal Street was heading for a negative start on Wednesday.
Tech View: Skilled cops look confused. What Investors Should Do
Nifty is currently sitting at the crucial overhead resistance of 17,800 and a decisive breakout of this area could put Nifty back into bullish momentum. Any weakness from here could find key support around the 17,450-17,400 levels, analysts say.
Tokyo stocks open lower tracking cases on Wall Street
Tokyo stocks opened lower on Wednesday, trailing Wall Street’s declines amid ongoing concerns over US interest rate hike plans. The benchmark Nikkei 225 index fell 0.64 percent, or 177.41 points, to 27,449.10 in early trade, while the broader Topix index fell 0.63 percent, or 12.22 points, to 1,914.36.
Wall Street ends busy post-summer session in the red
Wall Street’s main indexes ended lower on Tuesday, the first session after the US Labor Day and summer vacation, as traders assessed fresh economic data amid volatile trading.
The rupee falls 4 paise to 79.82 on the strong dollar
The rupee depreciated 4 paise against the US dollar on Tuesday, closing at 79.82 as a stronger US dollar against key peers and a lackluster trend in domestic equities weighed on sentiment.
Sensex, Nifty on Tuesday
The 30-stock Sensex fell 48.99 points to end at 59,196.99. Its broader competitor, Nifty50, ended at 17,655.60, down 10.20 points.