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Stock Market Live Highlights: Markets Fall for 5th Day; Sensex Declines 139 Points in Volatile Trade
Investor mood has also been impacted, according to traders, by recent withdrawals of foreign funds and generally negative trends in Asian markets.
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Rupee appreciated by 15 paise to close at 82.73 (provisional) against the US dollar
The NSE Nifty slipped 43.05 points or 0.25 per cent to end at 17,511.25.
BSE Sensex declined 139.18 points or 0.23 per cent to settle at 59,605.80
FIIs were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 579.82 crore, according to exchange data
Rupee opened 82.78 against the dollar and marginally rose to 82.77, registering a rise of 11 paise over its previous close
Rupee gains 11 paise to 82.77 against the US dollar in early trade
Stock Market Live Updates: Markets Slip
Sensex declines 92.7 points to 59,652.28 points in early trade; Nifty slips 34.5 points to 17,519.80 points.
Crude Outlook
"Crude prices continue to witness selling pressure, as benchmark indices Brent and NYMEX, each ending with a 2 percent cut...We expect crude to trade lower towards 6040 levels, a break of which could prompt the price to move lower to 5920 levels," said Prathamesh Mallya, AVP- Research, Non-Agri Commodities, and Currencies, Angel One Ltd
Gold Outlook
"Gold continuees its downward trajectory, as prices end the Wednesday's session with a half percentage cut, ending at 1825$ per ounce...We expect gold to trade lower towards 55850 levels, a break of which could prompt the price to move lower to 55690 levels," said Prathamesh Mallya, AVP- Research, Non-Agri Commodities, and Currencies, Angel One Ltd
Gold steadied at $1,825 an ounce
Stock Market Live Updates: Asian Markets Near 7-Week Low
MSCI's broadest index of Asia-Pacific shares outside Japan touched its lowest since Jan. 6 in early trade. It ground 0.5% higher as the morning wore on. Nasdaq futures rose 0.9% after a revenue beat at chip designer Nvidia sent its shares up 9% after-hours
MPC Minutes Reveal Dilemma; Of Dissent and Unison: SBI Ecowrap
"RBI has released the minutes of the MPC which shows the two external members expressing dissent. These members clearly expressed that excessive interest rate hike has implications for economic growth as raising real policy rates could reduce demand and have a stronger effect on growth than it does on inflation and one should take into account the lags in policy transmission. One of the members also pointed out to the fact that India does not have to follow the US Fed as large excess demand, tight labour markets and an unprecedented deviation from the inflation target which are prompting the Fed to continue hiking rates are absent in India," said SBI Ecowrap report
The major equity indices Sensex and Nifty fell on Thursday for the fifth straight day amid worries that the US Federal Reserve would increase interest rates further to fight inflation.
Investor mood has also been impacted, according to traders, by recent withdrawals of foreign funds and generally negative trends in Asian markets.
The BSE Sensex fell 139.18 points, or 0.23 percent, to close at 59,605.80 in a very choppy trading surrounding the monthly futures expiry. It fluctuated throughout the day from a high of 59,960.04 to a low of 59,406.31.
To finish at 17,511.25, the NSE Nifty fell 43.05 points, or 0.25 percent.
The main laggards in the Sensex pack included Asian Paints, Larsen & Toubro, Titan, IndusInd Bank, Bharti Airtel, Power Grid, Bajaj Finserv, Infosys, HDFC Bank, and HDFC. Axis Bank, Tata Motors, ITC, State Bank of India, Tata Steel, and Sun Pharma, on the other hand, were among the winners.