Sensex and Nifty50 extended losses to a second straight day tracking losses across Asian peers, a day after Fed projected at least two rate hikes in 2023, a year earlier than forecast in the March meeting. Adani Ports was the top laggard among blue-chip stocks, ending 9% lower. IndusInd Bank, Hindalco, Eicher Motors, NTPC, Maruti Suzuki, Hero MotoCorp and Dr Reddy’s were other top losers among 37 laggards in the Nifty50 universe. UltraTech was the top gainer in the 50-scrip index, closing 2% higher. TCS, Infosys, Asian Paints, Tech Mahindra, Tata Consumer and HDFC Life were among other top performers. Fear gauge VIX bounced 3%.
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Motilal Oswal AMC splits face value of each unit of Motilal Oswal NASDAQ 100 ETF from Rs 10 to Re 1
The balance unit holding of the existing unit holders under the scheme as per records of the depositories as on 18 June, 2021 will increase proportionately. However, this will not have any impact on the current value of holdings of the unit holders of the scheme.
F&O: Bears try to take over market; but low VIX level offers hope
Nifty has to hold above 15,750 level to witness a bounce towards 15,900 and 16,000 levels, while on the downside supports were be seen at 15,700 and 15,600 levels.
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What’s this Fed ‘dot plot’ anyway? Why has it rattled markets
Powell stated that the ‘dot plot’ ought to be taken with a “big grain of salt” and that in the current circumstances caused by the pandemic economic forecasters have a lot to be “humble about”.
Nifty formed a Doji candle pattern on daily chart. The index showed a good pullback again from 15,600 levels, which will act as immediate and strong support on the downside. Any break below the said levels can see more pressure coming in. Strong hurdle is formed near 15,750-15,820 zone. If Nifty moves above 15,820, we may see a good up move.
– Rohit Singre, Senior Technical Analyst at LKP Securities
My top conviction ideas finally paid off, claims Prashant Jain
In the next few years, returns will also be a function of inflation because if the market cap to GDP is fair, then going ahead the key is the nominal GDP growth, says Prashant Jain, CIO, HDFC AMC.
Discover & screen trade opportunities
The market witnessed profit booking following the global trends. Market continues to go above 15,750 and has taken a dip at 15,620. If market closes below the levels of 15,650, we might see a correction till the levels of 15,470-15,500. The momentum indicators like RSI, MACD are indicating a small correction in the markets.
– Ashis Biswas, Head of Technical Research at CapitalVia Global Research
Rupee ends at lowest closing level since April 28
This is how the 30-pack Sensex moved in today’s session. It touched a high of 52,523.88 and a low of 52,040.51 to finally settle at 52,323.33
CLOSING BELL: Bank stocks drag Sensex 179 pts lower; Nifty ends below 15,700; TCS, Infy gain up to 2%
- Financials lead the market fall
- 21 of 30 Sensex stocks end the day in the red
- Index contributors: HDFC Bank, HDFC, ICICI Bank, Axis Bank, SBI
- Top Index gainers: TCS (1.53%), UltraTech Cement (1.51%), Infosys (1.47%)
- Top Index losers: IndusInd Bank (2.71%), NTPC (2.25%), DRL (2.14%)
- All BSE sectoral indices except FMCG and IT end the day in the red
- S&P BSE Information Technology biggest sectoral gainer, up 0.86%
- S&P BSE POWER biggest sectoral loser, down 2.38%
- Volume toppers: Tata Steel, RIL, ITC, SBI, IndusInd Bank
S&P BSE POWER biggest sectoral loser, down 2.45%. This is how the index stocks are faring
Interministerial group to meet on strategic stake sale in BEML on Friday; meet expected to approve share purchase agreement (ETNow)
Forex Center: This is how the major currencies are faring against each other
Rupee hits 6-week low of 73.83 vs dollar
The rupee weakened to its lowest level since May 6 on Thursday while bond yields rose as the US central bank stunned investors by signalling it might raise interest rates as early as 2023, faster than assumed. The partially convertible rupee depreciated to as low as 73.83 during the session, its lowest since May 6.
Sensex tumbles over 450 points, Nifty slides below 15,650
The S&P BSE Sensex index plummeted as much as 461.47 points to hit 52,040.51 in late afternoon deals. The broader NSE Nifty50 benchmark dropped to as low as 15,616.75, down 150.8 points from its previous close. All sectors tracked by NSE barring IT and FMCG were in the red, with the Nifty Metal gauge falling as much as 2.5%.
Here are the top losers in the tourism and hospitality space
Price as on 17 Jun, 2021 02:18 PM, Click on company names for their live prices.
Wipro IT Services to issue $750m dollar denominated notes
The net proceeds of the notes, which are proposed to be listed on Singapore Exchange Securities Trading Ltd, are intended to be utilised for refinancing existing debt and general corporate purposes.
Copper hits near 2-month low on stronger dollar
The dollar rose to its highest level in almost two months versus major peers as the Fed began closing the door on its pandemic-driven monetary policy.
CESC shares up 2%, off 52-week high
The CESC stock soared as much as 6.33% to log a 52-week high of Rs 819.15 apiece on BSE before trimming those gains. At 1:15 pm, CESC was up 2.39% at Rs 788.75 apiece on the bourse, outperforming the S&P BSE Sensex index, which was down 0.20% at 52,395.03.
HDFC twins, ICICI Bank, Adani Ports, Tata Steel top drags on Nifty50
On the other hand, blue-chip stocks such as TCS, Asian Paints, Infosys, Kotak Mahindra Bank and UltraTech were in high demand, arresting the fall in the 50-scrip benchmark.
Most sectors in the red; select IT, FMCG shares buck the trend
Price as on 17 Jun, 2021 01:01 PM, Click on company names for their live prices.
Adani Ports, Future Consumer, Jai Corp fall up to 7%; ITDC, HSCL, Greaves Cotton top BSE500 gainers
Price as on 17 Jun, 2021 12:53 PM, Click on company names for their live prices.
India’s record forex pile may not be adequate, RBI paper says
India’s record more than $600 billion of foreign exchange reserves might not be good enough, as it falls short on some measures including import cover and liability outflows, according to a new research from the central bank.
Fear gauge VIX surges 4%
NSE’s India VIX index — which gauges the expectation of volatility — quoted 4.30% higher at 15.51, having moved between 14.53 and 15.54 earlier on Thursday, as against its previous close of 14.87.
Kotak Institutional Equities downgrades Wipro to ‘reduce’
Price as on 17 Jun, 2021 12:34 PM, Click on company names for their live prices.
Top 10 smallcap stocks that mutual funds are bullish on
As the broader market continues to outperform, smallcap stocks are gathering all the attention in the market. The Nifty Smallcap index is up 120% in the last one year while the Nifty50 benchmark has given a return of less than 60%.
Dodla Dairy IPO subscribed over 2 times so far
By 11:40 am, IPO had received bids for 1,72,32,460 shares, which was 2.03 times the total issue of 85,07,569 shares, data from NSE showed.
Jhunjhunwala-backed Nazara Tech to acquire gaming firm PublishMe; shares rise
Price as on 17 Jun, 2021 11:45 AM, Click on company names for their live prices.
The FOMC meet has sent out mixed signals… It is important to note that it has raised the 2021 US GDP forecast. This means higher EPS growth and better prospects for equities. Back home, Covid data continues to improve and reopenings are gathering momentum, favouring unlock trades. Some correction in the market now is desirable.
– VK Vijayakumar, Geojit Financial Services
HDFC twins, ICICI Bank, Axis Bank top drags on Sensex
On the other hand, buying interest witnessed in RIL, Infosys and Asian Paints kept the losses in the 30-scrip benchmark in check.
When I was a teenager, I noticed that when it rains heavily, the stock market does well. June, July and August are great months for the Sensex
– Dipan Mehta, Director, Elixir Equities
Kotak Mahindra Life Insurance arm expects to incur up to Rs 275 cr loss in Jun qtr
Private sector lender Kotak Mahindra Bank on Thursday said its life insurance arm expects to incur a loss of up to Rs 275 crore for the quarter ended June 2021 due to high fatalities in India during the second wave of COVID-19.
HDFC twins, bank stocks remain top drag on Sensex; Nifty Bank down 0.42%
Broader markets outperform; Nifty Smallcap 100 up 0.45%
Sensex recovers losses to bounce back in green zone
Rupee slips 33 paise to 73.65 against US dollar in early trade
The Indian rupee slipped 33 paise to 73.65 against the US dollar in early trade on Thursday, amid the strengthening of the greenback in the overseas market. At the interbank foreign exchange, the domestic unit opened at 73.65 against the dollar, registering a decline of 33 paise over its previous close.
RCom shares up 5% to hit upper circuit limit
The bankrupt Reliance Communications has written to the telecom department to renew its telecom licence for another 20 years, a move aimed to retain its rights over spectrum and to keep its enterprise business running.
Federal Bank up 2%
Private sector Federal Bank said its board has approved issuing equity shares to World Bank arm International Finance Corporation and associates for over Rs 916.25 crore.
OMCs could be in for rerating on strong margins, LPG boost
Analysts say valuations of Bharat Petroleum (BPCL), Hindustan Petroleum, and Indian Oil (IOC) remain attractive despite their share prices firming up recently.
Top gainers and losers in today’s trade
Price as on 17 Jun, 2021 10:03 AM, Click on company names for their live prices.
For Nifty50, the levels of 15,820-15,900 is seen as strong resistance levels. On the lower side, 15,700 is a crucial support. For the weekly expiry session, we would advise traders existing longs
– Sameet Chavan of Angel Broking
Adani stocks continue to face selling pressure
Price as on 17 Jun, 2021 09:39 AM, Click on company names for their live prices.
Intraday Picks from Reliance Securities
Aurobindo Pharma: Buy in the range of Rs 975-980 for a target of Rs 1,010 with a strict stop loss at Rs 962.Concor: A short position can be initiated in the range of Rs 690-694 for a target price of Rs 674 with a strict stop loss at Rs 700.TVS Motor: A short position can be initiated in the range of Rs 630- 635 for a target price of Rs 610 with a strict stop loss at Rs 641.
Q4 Results Today
Power Grid, Tube Investments, Natco Pharma, Indostar Capital Finance, Novartis India, Healthcare Global Enterprises, J&K Bank, DB Corp, Nava Bharat Ventures and Bajaj Hindusthan Sugar, among others, are slated to report their quarterly earnings today.
All Nifty sectoral indices trading in negative zone; Nifty Metals down 1%
Most Sensex stocks in red; HDFC twins, RIL top drags
Opening Bell: Sensex sheds 250 pts, Nifty below 15,700; Majesco tanks 5%, Adani Enterprises 4%
Pre-open session: Sensex drops 260 points, Nifty at 15,650
SGX Nifty signals a gap-down start
Nifty futures on Singapore Exchange traded 115 points, or 0.73 per cent, lower at 15,660.50, signaling that Dalal Street was headed for a gap-down start on Thursday.
Tech View: Nifty sends sell signal on MACD
Nifty50 snapped a four-day winning streak on Wednesday and formed a bearish candle on the daily scale after forming three indecisive candles. Analysts said the chances of the index revisiting the 15,600 level – the lower end of the ongoing consolidation range – are good. The 15,700 level may offer some support, they said.
Crude oil prices drop, hit by stronger dollar
Crude oil prices fell on Thursday pressured by a stronger dollar, but losses were limited by a big drop in crude oil inventories in the United States, the world’s top oil consumer. Brent crude oil futures dropped by 74 cents, or 1 per cent, to $73.65 a barrel after reaching its highest since April 2019 in the previous session. US crude oil futures fell by 69 cents, or 1 per cent, to $71.46 a barrel..
Hong Kong, China shares begin with losses
Hong Kong stocks sank at the open of business morning after the latest Federal Reserve policy meeting left investors expecting US interest rates will rise earlier than previously expected. The Hang Seng Index slipped 0.69 percent, or 195.96 points, to 28,240.88. The benchmark Shanghai Composite Index fell 0.28 percent, or 10.01 points, to 3,508.32.
Japanese stocks open lower
Tokyo stocks opened lower on Thursday as negative sentiment from falls on Wall Street overwhelmed support from a cheap yen against the dollar. The benchmark Nikkei 225 index was down 0.57 percent or 168.03 points at 29,122.98 in early trade, while the broader Topix index slipped 0.22 percent or 4.41 points to 1,971.45.
US stocks dip, dollar rallies as Fed edges towards policy shift
The dollar rallied while US stocks dipped on Wednesday after the Federal Reserve sent signals it was moving closer to tightening monetary policy while downplaying recent signs of inflation. The Dow Jones Industrial Average fell 265.66 points, or 0.77 per cent, to 34,033.67, the S&P500 index lost 22.89 points, or 0.54 per cent, to 4,223.7 and the Nasdaq Composite index dropped 33.17 points, or 0.24 per cent, to 14,039.68.
Fed sees earlier time frame for rate hikes with inflation up
The Federal Reserve signaled that it may act sooner than previously planned to start dialing back the low-interest-rate policies. The Fed’s policymakers forecast that they would raise their benchmark short-term rate — which affects many consumer and business loans, including mortgages and credit cards — twice by late 2023. They had previously estimated that no rate hike would occur before 2024.
Rupee slips to 73.32 against dollar
Extending its losses for seventh straight session, the rupee slipped by 1 paisa to end at 73.32 against the US dollar following risk-off sentiment among investors ahead of the outcome of the US Federal Reserve meeting. At the interbank foreign exchange market, the rupee opened at 73.29 per dollar as against its previous close of 73.31. It hovered in the range of 73.26 to 73.38 during the day.
Sensex, Nifty on Wednesday
Key benchmark indices Sensex and Nifty retreated from record-high levels on Wednesday following as investors turned cautious ahead of the outcome of the US Federal Reserve’s policy meeting. The 30-share BSE index ended 271.07 points or 0.51 per cent lower at 52,501.98. It had closed at an all-time high of 52,773.05 on Tuesday. The NSE Nifty retreated from a record and declined 101.70 points or 0.64 per cent to 15,767.55.