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Highlights Equities in Europe were largely trading with gains in mid-session deals. Bourses in Shanghai, Hong Kong and Seoul ended on a negative note. Mumbai, May 20 (PTI): Equity benchmark Sensex tumbled 338 points on Thursday, dragged by losses in index majors HDFC Bank, Reliance Industries and ICICI Bank amid weak global cues. Slipping below the 50,000 mark, the 30-share BSE index ended 337.78 points or 0.68 per cent lower at 49,564.86. The broader NSE Nifty declined 124.10 points or 0.83 per cent to 14,906.05. ONGC was the top loser in the Sensex pack, shedding around 3 per cent, followed by Sun Pharma, PowerGrid, Axis Bank, HDFC Bank, Bharti Airtel and Kotak Bank. ....
A rebound in US stocks following a three-day rout and easing of US bond yields and inflationary concerns may give domestic stocks a positive start on Friday. Upbeat sentiment in other Asian markets, and back home, data showing an improvement in factory output and fall in retail inflation may help stocks log gains. Here s breaking down the pre-market actions: STATE OF THE MARKETS Nifty futures on the Singapore Exchange traded 172.5 points, or 1.19 per cent, higher at 14,680, signaling that Dalal Street was headed for a positive start on Friday. Tech view: Nifty resistance at 15,000-15,050 Nifty on Wednesday fell below the 14,700 level, and in the process breached a few crucial supports, including the 50-day moving average. The index ended up forming a Bearish Belt Hold pattern, which suggested bear domination over the bulls. Analysts said the next support for the index lies in the 14,620-14,600 range. They continue to see resistance for the index in the 15,000-1 ....
Weak Asian markets, which are at one-month lows, and a second day s fall in US stocks overnight may hit domestic market sentiment on Wednesday. There are concerns globally that rising inflation in the US will trigger a Fed rate hike soon. Back home, Covid cases in India fell for the third day, raising hopes that the country may soon see a peak in daily cases. Here s breaking down the pre-market actions: STATE OF THE MARKETS Nifty futures on the Singapore Exchange traded 21.50 points, or 0.14 per cent, lower at 14,828.50, signalling that Dalal Street was headed for a negative start on Wednesday. ....
Titan, Maruti, PowerGrid, SBI and NTPC were among the gainers. All major indices closed in the negative terrain. New Delhi: Indian indices continued to trade in the red zone for the second continuous session on Wednesday, with equity benchmark Sensex losing 471 points. Nifty and Sensex were dragged by selling in heavyweights such as ICICI Bank, HUL and Reliance Industries amid mixed cues from global markets. The 30-share BSE index ended 471.01 points or 0.96 per cent lower at 48,690.80. Similarly, the broader NSE Nifty tumbled 154.25 points or 1.04 per cent to 14,696.50. IndusInd Bank was the top loser in the Sensex pack, shedding over 3 per cent, followed by HUL, ONGC, ICICI Bank, Axis Bank, Kotak Bank, M&M and Tech Mahindra. ....
09:40 AM Bajaj Auto, Bajaj Finance, ITC, HDFC, Titan top Sensex gainers On the other hand, HCL Tech, Sun Pharma and Power Grid were the worst hit among the 10 laggards in the 30-scrip benchmark index. 09:35 AM Overall market breadth positive Market breadth favoured gains as 1,376 scrips on BSE traded higher in morning deals against 1,157 that moved lower. On NSE, 973 stocks advanced while 769 declined. 09:23 AM IDBI Bank surges 10%, Morepen Labs tanks 5% 09:18 AM There are two broad views regarding the peaking of the second wave: One, peaking by mid-May; two, peaking by July. If the first scenario plays out, the hit to economic growth will be a marginal, say, 1% decline from the estimates of 11% growth in FY22. In the second scenario, the hit will be worse. It remains to be seen which scenario will play out. Investors may wait and watch. IT, pharma, metals and telecom are likely to remain resilient even under difficult times. ....