Amid selling pressure in banking and financial services, nervousness was visible on Dalal Street ahead of Fed meet outcome. Among blue-chip stocks, Adani Ports was the worst hit. Dr Reddy’s, Power Grid, IndusInd Bank, Hindalco, Asian Paints, HDFC Bank, Axis bank and SBI were among the 24 laggards in the 50-scrip index. On the other hand, ONGC was the top gainer. Tata Consumer, M&M, Wipro, Bajaj Finserv, HDFC Life, Sun Pharma and Eicher Motors were among other top performers.
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After forming a Doji candle pattern in yesterday’s session, Nifty today formed a bearish candle on the daily chart. Nifty reached its support zone of 15,750. If it breaks below this, we have see it slide towards the next support zone of 15650. However, if it manages to hold above the support zone, some decent pullback can be witnessed towards 15,850-15,900 zone where one can again lock their gains in longs.
– Rohit Singre, Senior Technical Analyst at LKP Securities
This is how the 30-pack Sensex moved in today’s session. It touched a high of 52,816.31 and a low of 52,425.57 to finally settle at 52,501.98
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CLOSING BELL: Sensex snaps 4-day winning run, drops 271 pts; Nifty below 15,800; Adani group stocks tank up to 8%
- RIL, financials and L&T lead the market fall
- 22 of 30 Sensex stocks end the day in the red
- Index contributors: RIL, ICICI Bank, HDFC, L&T, HDFC Bank
- Top Index gainers: Nestle (1.48%), ONGC (1.20%), NTPC (1.02%)
- Top Index losers: Power Grid (1.92%), IndusInd Bank (1.89%), RIL (1.76%)
- All BSE sectoral indices except FMCG and IT end the day in the red
- S&P BSE Fast Moving Consumer Goods biggest sectoral gainer, up 0.45%
- S&P BSE METAL biggest sectoral loser, down 2.58%
- Volume toppers: Kotak Bank, Tata Steel, RIL, HDFC Bank, HDFC
PUBG maker targets up to $5 billion in South Korea’s biggest IPO
Krafton Inc, the South Korean company behind blockbuster video game “PlayerUnknown’s Battlegrounds”, said on Wednesday its IPO would raise up to 5.6 trillion won ($5 billion) at the top of an indicative range, which would be a record for the country. Tencent-backed Krafton said in a regulatory filing it expected to offer 10 million shares, or 7 million new shares and 3 million existing shares, at an indicative range of 458,000-557,000 won per share.
Jubilant Foodworks shares rise post Q4 earnings
Price as on 16 Jun, 2021 03:08 PM, Click on company names for their live prices.
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S&P BSE REALTY down 0.50%. Here are the top laggards
Price as on 16 Jun, 2021 02:56 PM, Click on company names for their live prices.
Forex Center: This is how the major currencies are faring against each other
Here are the top gainers and losers in the tourism and hospitality space
Price as on 16 Jun, 2021 02:32 PM, Click on company names for their live prices.
Sona BLW Precision IPO fully subscribed
By 2:05 pm, the issue had received 10,93,71,489 bids against the total issue size of 10,71,05,262 shares, NSE data showed. That marked a subscription of 1.02 times so far on the third day of the bidding process.
Nifty Bank down 0.8% as lenders continue to see selling pressure
Price as on 16 Jun, 2021 02:19 PM, Click on company names for their live prices.
Here are the top scrips dragging the Sensex lower
There is no restriction on the accounts of the foreign investors which have invested in Adani group stocks as far our knowledge goes, Adani Group’s Group CFO Jugeshinder Singh said amid reports of NSDL freezing accounts of three offshore funds dealing in group companies.
Jai Corp, Wabco, BASF, J&K Bank top gainers in BSE500 universe
Price as on 16 Jun, 2021 02:02 PM, Click on company names for their live prices.
Financial services, oil & gas stocks top drags on Nifty50
On the other hand, buying interest seen in IT and consumer goods stocks kept the downside in check.
ETMarkets Investors Guide | What do we look for when we look at a stock?
The less you think about making money while investing, the more money you make: Saurabh Mukherjea at ET Markets Investors Guide
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Dodla Dairy IPO subscribed 65% so far
By 1:25 pm, the issue had received 55,70,320 bids against the total size of 85,07,569 shares, a subscription of 65.47% so far. Shares under the IPO are being sold in the Rs 421-428 price band.
Market guru Saurabh Mukherjea on what to look for when looking at a stock
Market guru Saurabh Mukherjea on what to look for when looking at a stock. Watch LIVE: https://t.co/4qI21sjUDt
— ETMarkets (@ETMarkets) 1623829340000
ETMarkets Investors’ Guide is a discussion platform about asset classes, market trends, and investment opportunities that brings the country’s best financial minds on one platform to provide insights on the most burning topics in India’s capital market.
Sensex slumps 300 points, Nifty near 15,750
The S&P BSE Sensex fell as much as 347.48 points to touch 52,425.57 at the weakest level of the day. The broader NSE Nifty50 benchmark slid to as low as 15,755.10, down 114.15 points from its previous close. Selling pressure in banking and metal stocks deepened.
Price as on 16 Jun, 2021 12:44 PM, Click on company names for their live prices.
While the Nifty FMCG’s 4.5 per cent gains in 2021 have lagged Nifty50’s 13 per cent, the former has stolen the march on the 50-stock index in June so far. As many as 11 out of 15 stocks that are part of the Nifty FMCG index have outperformed Nifty50 in signs that the sector is gaining traction.
Fear gauge rises 0.5%
NSE’s India VIX index — which gauges the expectation of volatility — was up 0.47% at 14.68 at noon. It had moved between 13.62 and 15.01 earlier on Wednesday, as against its previous close of 14.61.
In the year-to-date period, foreign portfolio investors have bought local stocks worth a net of over $2.1 billion, which is 10 times the inflow seen by South Korea in the same period and seven times that seen by Indonesia, according to data compiled by brokerage firm CLSA Asia-Pacific Markets.
RIL, HDFC twins, ICICI Bank weigh on Sensex
On the other hand, buying interest seen in Bajaj Finserv, ITC and ONGC limited the downside.
The IPO attracted bids for 8,26,81,155 shares by 10:25 am, which was 3.92 times the total issue of 2,10,90,890 shares, according to data from NSE. The metal producer has fixed the price band of Rs 303-306 for the IPO.
Highlights from Tata Power’s annual report
– Tata Power says it remains cautiously optimistic despite downside risks posed by Covid-19- The company took effective steps to de-leverage its balance sheet.- Tata Sons increased shareholding from 35.27% in FY20 to 45.21% in FY21
Sensex slips over 250 points; Nifty near 15,800 mark
Adani Ports, Tata Steel, Hindalco, RIL among top laggards in Nifty50 pack
Rupee opens on flat note, rises 5 paise to 73.26 against US dollar in early trade
The Indian rupee opened on a flat note and inched higher by 5 paise to 73.26 against the US dollar in early trade on Wednesday ahead of the US Federal Reserve meeting outcome. At the interbank foreign exchange, the domestic unit opened at 73.29 against the dollar, then inched higher to quote 73.26, a rise of 5 paise over its previous close of 73.31 on Tuesday.
Adani Group CFO Jugeshinder Singh speaks to ET Now on debt reduction plans
#LIVE | The most comprehensive interview of Adani Group! Watch Jugeshinder Singh, Group CFO of @AdaniOnline.… https://t.co/rvGGxLe6n0
— ET NOW (@ETNOWlive) 1623817987000
Nifty Metal slips 2%; SAIL, Jindal Steel top losers
Price as on 16 Jun, 2021 10:49 AM, Click on company names for their live prices.
3 Intraday Picks from Reliance Securities
SBI Life: BUY for a target of Rs 1,020 with a strict stop loss at Rs 974.Titan: SELL in the range of Rs 1,735-1,745 for a target price of Rs 1,695 with a strict stop loss at Rs 1,760.UltraTech Cement: BUY in the range of Rs 6,600-6,630 for a target of Rs 6,780 with a strict stop loss at Rs 6,560.
Dodla Dairy IPO subscribed 7% within first 15 minutes of bidding process
How bank stocks are performing today
Price as on 16 Jun, 2021 10:20 AM, Click on company names for their live prices.
Bay Tree India Holdings sells over 2 pc stake in Yes Bank
Anchor investor Bay Tree India Holdings I LLC has sold over a 2 per cent stake in private sector lender Yes Bank through open market transactions. According to a regulatory filing, Bay Tree India Holdings I LLC, which held a 5.40 per cent stake in Yes Bank earlier, sold 52.09 crore shares representing 2.08 per cent of the equity stake in multiple tranches between May 7 and June 11, 2021.
A disturbing trend in the market in recent days is the rise of low-grade stocks – the so-called ‘cats & dogs’ of the market. Some companies in debt trap and heading for bankruptcy and some already there are being pushed up by the new breed of retail investors. Market history tells us that these ‘cats & dogs’ will be butchered in a bear ambush. Since valuations are high a bear ambush may happen anytime. So investors have to be extremely careful while playing the small-cap game. Bluechips will recover from a bear ambush but cats & dogs will be slaughtered.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Nifty FMCG and Nifty PSU Bank only 2 sectoral indices in green
Asian shares mixed in quiet trading ahead of US Fed decision
Asian shares were mixed in quiet trading Wednesday ahead of a US Federal Reserve meeting that may give clues on what lies ahead with its massive support for markets. Japan’s Nikkei 225 slipped nearly 0.3 per cent in early trading to 29,359.31. South Korea’s Kospi rose 0.4 per cent to 3,272.11. Australia’s S&P/ASX 200 gained 0.3 per cent to 7,403.40. Hong Kong’s Hang Seng inched down 0.1 per cent to 28,603.84, while the Shanghai Composite was little changed, inching up less than 0.1 per cent to 3,557.48.
PSU bank stocks in high demand; Indian Bank up 2%
LIC Housing Finance down 2%
LIC Housing Finance fell 2 per cent after the mortgage financier reported a 5 per cent decline in its profit after tax at Rs 398.92 crore in the quarter ended in March 2021 due to higher provisioning for bad loans.
Sensex back in positive zone; ICICI Bank top contributor
Adani stocks drop upto 5%
Price as on 16 Jun, 2021 09:30 AM, Click on company names for their live prices.
Jubilant FoodWorks up 4%
Jubilant FoodWorks reported over three-fold jump in its consolidated net profit at Rs 105.30 crore for the fourth quarter ended March 2021. The company had posted a net profit of Rs 32.53 crore in the January-March quarter a year ago.
Most Sensex stocks in red; ONGC, M&M among top gainers
Opening Bell: Sensex sheds 100 points, Nifty slips below 15,850; LIC Housing, Adani Ports drop up to 3%
Q4 results today
CESC, Asahi India Glass, Rites, Somany Ceramics, Welspun Enterprises, Nureca, RSPG Ventures, Olectra Greentech, DIC India, EKI Energy Services and Manaksia Steels will announce their March quarter results today.
Pre-open session: Sensex rises 150 points, Nifty stays above 15,850
SGX Nifty signals a negative start
Nifty futures on Singapore Exchange traded 24 points, or 0.15 per cent, lower at 15,830, signaling that Dalal Street was headed for a negative start on Wednesday
Tech View: Nifty forms Doji; upside limited from here on
Nifty50 on Tuesday formed a ‘Doji’ candle on the daily chart, suggesting indecisiveness among traders. Analysts said the index failed to capitalise on a small gapup start and traded in a narrow range throughout the day. They see the possibility of limited upside in Nifty towards the 16,000-16,050 zone, on a breach above the 15,900 level.
Hong Kong shares open lower
Hong Kong stocks edged lower at the start of Wednesday’s trading following a soft Wall Street lead as data showed a big spike in US factory gate inflation, while investors await the conclusion of the Federal Reserve’s latest policy meeting. The Hang Seng Index dipped 0.10 percent, or 29.16 points, to 28,609.37. The benchmark Shanghai Composite Index was barely moved, inching up 0.15 points to 3,556.71.
Japan stocks open lower ahead of US Fed meet
Tokyo stocks opened lower on Wednesday, extending falls on Wall Street as investors took to the sidelines ahead of the US Federal Reserve’s meeting. The benchmark Nikkei 225 index was down 0.36 per cent or 104.66 points at 29,336.64 in early trade, while the broader Topix index slipped 0.09 per cent or 1.80 points to 1,973.68.
US stocks retreat after inflation, retail sales data
Wall Street stocks retreated from records Tuesday following data showing higher inflation and lackluster retail sales, while petroleum-linked shares rallied with oil prices. The Dow Jones Industrial Average finished down 0.3 per cent at 34,299.33. The broad-based S&P500 index lost 0.2 per cent at 4,246.59, while the tech-rich Nasdaq Composite Index tumbled 0.7 per cent to 14,072.86.
Rupee falls for 6th straight session
Falling for the sixth day in a row, the rupee closed lower by 2 paise at 73.31 (provisional) against the US currency on Tuesday amid rising crude oil prices and dollar demand from oil importers. At the interbank foreign exchange market, the rupee opened higher at 73.20 per dollar as against its previous close of 73.29. It hovered in the range of 73.16 to 73.33 per dollar during the day.
Sensex on Tuesday
The continuing bull run in the equity market on Tuesday propelled Sensex to a fresh record closing level of 52,773.05 points and the 30-share index also touched a lifetime intra-day high. Not just the record closing and intra-day levels for Sensex, the market capitalisation of BSE-listed companies also reached a lifetime high of Rs 2,31,58,316.92 crore on Tuesday.