Sensex and Nifty kickstarted the week on a negative note amid lack of directional cues. Selling pressure was seen in financial, metal, real estate stocks. IT shares bucked the trend. Adani Ports was top laggard, down 10%. Bajaj Finance, CIL, SBI, NTPC, Hindalco and Bajaj Finserv among other losers. Infosys was top gainer, up 1%. RIL, Divi s, Eicher Motors, Wipro, TCS and Shree Cement were among other top performers. Fear gauge VIX surged 3%.
Domestic stocks are likely to open on a flat note, despite Wall Street gains overnight. Investors would digest data showing a higher-than-expected 5 per cent rise in US CPI inflation in May and the ECB commentary suggesting it would be "too early and premature" to discuss the tightening of monetary policy.
Domestic stocks opened higher on Thursday, mirroring gains in other Asian markets. Buying in Reliance Industries and IT majors TCS and Infosys lifted indices, but selling in ITC and select private banks kept upside limited. Investors globally are cautious ahead of US inflation readings and the ECB policy review later in the day. SAIL, NHPC & Century Plyboards, NHPC, Century Plyboards (India), Cera Sanitaryware, Mazagon Dock Shipbuilders, eClerx Services, Responsive Industries, Tide Water Oil Company, National Fertilizers and Mayur Uniquoters are among companies that will announce their March quarter results today. Watch this space as we bring you LIVE updates of the day s proceedings from Dalal Street.
Sensex and Nifty extend gains. Strong buying interest seen in utility, media and power stocks. Selling pressure witnessed in select financial stocks. Adani Ports top gainer among blue-chip stocks, up 7%. Tata Motors, NTPC, UltraTech Cement, Tata Consumers among other top performers. Bajaj Finance top laggard in Nifty50 universe, down 5%. Bajaj Finserv, HDFC, Cipla and DRL among other losers. Fear gauge VIX eases.
RBI on inflation outlook
The rising trajectory of international commodity prices, especially of crude, together with logistics costs, pose upside risks to inflation outlook. Excise duties, cess and taxes imposed by the Centre and states need to be adjusted in a coordinated manner to contain input cost pressures emanating from petrol and diesel prices: Shaktikanta Das
10:56 AM
The announcement of G-SAP 2.0 for Q2FY22 shows RBI’s commitment to keep bond yields in check. The inclusion of SDL on G-SAP would support state government borrowings from the market
- Deepthi Mathew, Economist at Geojit Financial Services
10:54 AM
Rupee falls 16 paise to 73.07 against US dollar