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Rising interest rates, high inflation, the war in Ukraine and a slowdown in China’s economy have led investors to reconsider what they’re willing to pay for a wide range of stocks, from high-flying tech companies to traditional automakers. Big swings have become commonplace and Monday was no exception.
Global Market Updates: Japan’s Nikkei falls for 3rd day amid U.S. inflation, China COVID worries
The Nikkei closed 1.32% lower at 26,629.86, but after earlier sinking as much as 2.19%, the lowest since May 19. The broader Topix slid 1.19% to 1,878.45.
Although a favourite of long-term investors for compounding wealth consistently over the last few decades, the stock of Asian Paints has hit a rough patch. The Nifty stock slipped another 3 per cent on Tuesday morning to hit a 52-week low of Rs 2,585.05. The stock is now down over 22 per cent year-to-date (YTD) and 11 per cent in the last one-year period. For investors of Asian Paints, there are two major headaches – rising crude oil prices and Grasim’s plan to disrupt the paint industry in Jio-style.Although a favourite of long-term investors for compounding wealth consistently over the last few decades, the stock of Asian Paints has hit a rough patch. The Nifty stock slipped another 3 per cent on Tuesday morning to hit a 52-week low of Rs 2,585.05. The stock is now down over 22 per cent year-to-date (YTD) and 11 per cent in the last one-year period. For investors of Asian Paints, there are two major headaches – rising crude oil prices and Grasim’s plan to disrupt the paint industry in Jio-style.
WPI inflation spikes to record 15.88% in May on costlier food items, crude oil
- Wholesale price-based inflation rose to a record high of 15.88 per cent in May on rising prices of food items and crude oil. The Wholesale Price Index-based inflation was 15.08 per cent in April and 13.11 per cent in May last year.
- “The high rate of inflation in May, 2022 is primarily due to rise in prices of mineral oils, crude petroleum & natural gas, food articles, basic metals, non-food articles, chemicals & chemical products and food products etc. as compared to the corresponding month of the previous year,” the commerce and industry ministry said in a statement.
- The WPI inflation has remained in double digit for the 14th consecutive month since April last year and has been in the upper trajectory for three straight months.
Sensex Today LIVE: Index off day’s high
India’s job market looks optimistic with 63 per cent of companies planning to add more staff in next three months, in a bid to speed up the recovery process and sustain the economic growth, a survey said on Tuesday.
Price as on 14 Jun, 2022 12:56 PM, Click on company names for their live prices.
Dynamatic Technologies rallies 8% as firm wins escape hatch door contract for Airbus A220
Shares of Dynamatic Technologies rallied around 8 per cent to a high of Rs 2038.65 in Tuesday’s trade after the company won the contract to manufacture escape hatch doors for Airbus A220 aircraft. In a press release, Udayant Malhoutra CEO & Managing Director of Dynamatic Technologies said, “We are delighted to have been awarded this contract. Dynamatic has been working with Airbus since 2006 on flight-critical wing sub-assemblies and are now moving onto the fuselage.”
Stock Market LIVE Updates: Amid firm market mood, gas & petroleum stocks under pressure
Price as on 14 Jun, 2022 12:02 PM, Click on company names for their live prices.
“My view is that we should basically be preparing for zero returns even over the next 12 months,” Mahesh Nandurkar, MD & Head of Research, Jefferies India, said. This, despite the Nifty plunging below the 16,000 mark on Monday. The equity strategist doesn’t find the selloff unexpected. “I think this whole year is going to be a weak year from the returns perspective and while the Nifty has corrected to less than 16,000, I really do not think that we will still be making positive returns from here on in the rest of the year,” he told ET Now.
Stock Market LIVE Updates: FII net long in index futures lowest at 12%. This is what it dictates!
#ETNOWInsight | FII net long in index futures lowest at 12%. @JayeshKhilnani explains what this indicates #Nifty… https://t.co/PwaF1jtxyC
— ET NOW (@ETNOWlive) 1655186240000
GR Infra drops 23% in two sessions after CBI raids
Shares of GR Infraprojects continued to bleed on Tuesday amid reports of CBI raids at the company’s various offices amid allegations of corruption and financial irregularities. According to the reports, CBI has conducted searches at several locations of GR Infraprojects in Shillong, Guwahati, Gurgaon, and Bangalore. The raids were conducted in connection with alleged irregularities in a national road highway project in Assam, as per the reports. CBI has arrested five people including National Highways Authority of India (NHAI) officials and GR Infra employees.
Stock Market LIVE Updates: Nifty IT surges over 1%; check out top performers
These stocks move in line with market mood, gain up to 7%
Price as on 14 Jun, 2022 10:47 AM, Click on company names for their live prices.
Stock Market LIVE Updates: Index erases all losses, trades higher
Stock Market LIVE Updates: Total to acquire 25% in Adani New Industries (ANIL) from Adani Enterprises
Price as on 14 Jun, 2022 10:16 AM, Click on company names for their live prices.
Bitcoin vs Apple stock: Which is better?
Beyond all the futuristic stuff crypto sells, if one has Apple shares today vs Bitcoin as an asset class, with Appl… https://t.co/QRarfXA9ab
— Nikhil Kamath (@nikhilkamathcio) 1655178274000
Stock Market LIVE Updates: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
The sharp decline in the US markets was triggered by a WSJ article indicating a 75 bp hike by the Fed in its Wednesday meeting. Now, the majority view is that the Fed will have to hike aggressively with a couple of 75 bp rate hikes to contain inflation and establish its credibility.
CPI inflation in India in May coming at 7.04%, down from 7.8% in April, is good news that inflation is not getting out of control. So, RBI need not hike aggressively like the Fed.
Financials, particularly leading private sector banks, have the potential to give market beating returns for investors with a one-year perspective. Defenses like leading FMCGs are safe bets.
Majority of the crypto tokens were in deep red. Bitcoin, Ethereum, BNB and Tron plunge between 10-17 per cent. However, a mild recovery was witnessed in Polkadot and Avalanche after solid hammering. The global cryptocurrency market cap was trading sharply lower at the $908.51 billion mark, dropping as much as 11 per cent in the last 24 hours. However, the total cryptocurrency trading volume zoomed about 64 per cent to $153.34 billion.
Stock Market LIVE Updates: Forex Market Alert
Rupee inches 2 paise higher to 78.02 against US dollar in early trade
Stock Market LIVE Updates: Voda Idea, RBL Bank, YES Bank among most active stocks on NSE
Price as on 14 Jun, 2022 09:28 AM, Click on company names for their live prices.
Sector Watch: FMCG only sectoral loser on NSE
OPENING BELL: Sensex sheds 150 points, Nifty below 15,750; TechM drops 2%, Airtel gains 2%
Crypto Market Watch: Bitcoin last down 5.3% at $21,252; Ether down 9.4% at $1,095
Oil bounces around as tight supply offsets recession fears
Oil prices seesawed in positive and negative territory on Tuesday, holding up despite recession fears and potential new COVID-19 curbs in China that could dampen demand as the market remains tightly supplied. U.S. West Texas Intermediate (WTI) crude eased 4 cents to $120.89 a barrel at 0156 GMT, while Brent crude futures dipped 6 cents to $122.21 a barrel.
Stock Market LIVE Updates: Asian stocks slide as recession fears grow
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%.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 76 points, or 0.48 per cent, lower at 15,702.50, signaling that Dalal Street was headed for a negative start on Monday.
Stock Market LIVE Updates: Q4 results today
ITDC,Nagarjuna Fertilizers and Chemicals and OPTO CIRCUITS are among companies which will announce their quarterly earnings today.
Tech View: Defending 15,670 a must to avoid Nifty50 weakness
Nifty50 on Monday formed a bearish candle on the daily chart, with a long lower wick, suggesting recovery from intraday low of 15,684. The index has been seeing a strong support near 15,670 since March and analysts see it as make-or-break level. A breach of it may bring downside towards 15,500-400, they warned.
Tokyo stocks open lower on US rate hike fears
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 percent, or 419.93 points, at 26,567.51 in early trade, while the broader Topix index was down 1.38 percent, or 26.24 points, at 1,874.82.
Stock Market LIVE Updates: S&P 500 confirms bear market as recession worry grows
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%, to end at 3,750.95 points, while the Nasdaq Composite lost 526.82 points, or 4.65%, to 10,813.20. The Dow Jones Industrial Average fell 857.70 points, or 2.73%, to 30,535.09.
Rupee slips 11 paise to 78.04 against US dollar
Dropping for the third straight session, the rupee depreciated by 11 paise to close at a fresh lifetime low of 78.04 against the US dollar on Monday as a global market meltdown and stronger greenback overseas weighed on investor sentiment.
Stock Market LIVE Updates: Sensex, Nifty on Monday
The BSE benchmark Sensex plunged over 1456.74 points or 2.68 per cent to the sub-53,000 level and the Nifty50 tanked over 427.40 points or 2.6 per cent, the lowest since May 19 to close below 15,800 levels.