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HomeBusinessSensex Falls 125 pts, Nifty Below 15,750; Airtel Up 2%; Key Points

Sensex Falls 125 pts, Nifty Below 15,750; Airtel Up 2%; Key Points


The markets opened on a slippery ground amid negative sentiments across global markets. At 09:17 IST, the Sensex was down 125.42 points or 0.24 per cent at 52721.28, and the Nifty was down 30.20 points or 0.19 per cent at 15744.20. About 1118 shares have advanced, 814 shares declined, and 85 shares are unchanged.

Top Gainers and Losers

Tech M, Asian Paints, HDFC twins, Wipro, Infosys, ICICI Bank and Kotak Bank led losses on the Sensex, while Bharti Airtel, M&M, L&t, NTPC, PowerGrid, Dr Reddy’s and Tata Steel were the top gainers.

Broader Markets In Positive Territory 

The broader markets, however, showed signs of a recovery. The BSE MidCap and SmallCap indices were in the positive territory, rising up to 0.4 per cent. Sectorally, Nifty Realty, Financials and Consumer Durables held the highest losses, down up to a per cent. Nifty Metals and FMCG were muted.

Berger Paints Slips

Among stocks, Berger Paints slipped 1 per cent. The company anticipates a loss between Rs 75 lakh and 1 crore due to the accidental fire at the factory outlet in Howrah, West Bengal. However, the loss was fully recovered by insurance as the total sum assured for the Howrah factory was Rs 218 crore, it said.

WPI Numbers in Focus

All eyes will be on India’s wholesale price index (WPI) numbers for the month of May after the headline retail inflation eased to 7.04 per cent in May from an eight-year high of 7.79 per cent in April. Besides that, the trade balance data will also be watched out by investors.

US Stock Markets Enter Bearish Territory

Investors’ will also digest the dull momentum across global markets as fear of aggressive rate hikes by the US Federal Reserve plunged the US stock markets into the bearish territory.

Global Cues

US equities tumbled on Monday, with the S&P 500 confirming it is in a bear market, as fears grow that the expected aggressive interest rate hikes by the Federal Reserve would push the economy into a recession. The S&P 500 lost 149.91 points, or 3.85 per cent, to end at 3,750.95 points, while the Nasdaq Composite lost 526.82 points, or 4.65 per cent, to 10,813.20. The Dow Jones Industrial Average fell 857.70 points, or 2.73 per cent, to 30,535.09.

Tokyo stocks opened lower on Tuesday, extending a rout on Wall Street, as investors bet on more aggressive US Fed rate hikes to address inflation following key price data. The benchmark Nikkei 225 index was down 1.56 per cent, or 419.93 points, at 26,567.51 in early trade, while the broader Topix index was down 1.38 per cent, or 26.24 points, at 1,874.82.

Asian shares tumbled on Tuesday after Wall Street hit a confirmed bear market milestone and bond yields struck a two-decade high on fears aggressive U.S. interest rate hikes would push the world’s largest economy into recession. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.9 per cent.

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