Tag: sensex

Markets in red due to weak global cues; Sensex, Nifty breach safe territory

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The markets were still in the red even though there has been a slight recovery since openings. The BSE Sensex pulled up to 33,023 points, recovering 100 points and the Nifty recovered 20 points from losses, trading around 10,140 points, however, still below 10,150 levels.

The global markets still have their red flags raised. Though Japan’s Nikkei went 250 points off lows, the Asian markets show a 1-2 % decline as US stocks fell sharply due to technology firms. PSU Banks, IT and Auto rebounded while metals and pharma stocks remain under pressure.

Fortis Healthcare, post the demerger buzz, continues to extend losses. Auto and IT stocks are the top index gainers as of yet, with Maruti Suzuki India taking the lead. Maruti and Wipro have gained close to 2% and TCS and Hero Motorcorp have gained close to a percent in intra-day trading.

In the first half of trading hours, the Sensex breached 33,000 levels and dropped to 32,967 points and the Nifty is just above 10,100 at 10,123. The sectoral indices had further dropped by half a percent with the Nifty Bank dropping by over 200 points and with the Nifty Midcap dropping by over 100 points.

The markets opened in the red due to weak global cues. The NSE Nifty opened at 10,131 points and the BSE Sensex opened at 33,027 points, losing 0.5% gains. The Nifty Midcap and the Nifty Bank opened losing over a percent. The markets are currently trading lower as against yesterday’s highs.

Global markets continue to give out weak cues. The European markets opened in lows as they were affected the Wall Street The European Stoxx 600 was 0.72% lower briefly after the market opening, with all sectors in the red. The Asian markets continue to drag.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Benchmark indices remain in safe ranges, metals continue to rally

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The benchmark indices maintained their safe ranges —  the Sensex is trading above 33,000 points and the Nifty remains in 10,100 levels — in the first half of trading hours. The sectoral indices were off their day’s high, however, the two major ones – Nifty Midcap and the Nifty Bank – managed to gain above 0.25%.

Metal stocks continued to rally as the news of US and China considering negotiations came out.

The markets on Tuesday opened largely in green, with the help of strong global cues. The NSE’s Nifty opened at 10,187 points, reclaiming 10,000 levels while the BSE’s Sensex opened in safe range of 33,000 at 33,245 points. The financials took the lead as the government announced a lower-than-expected borrowing programme for April-September.

Foreign investors were seen in a buying mood, giving the US market its best day in more than two years and erasing about half of its huge losses last week.

Technology companies accounted for much of the broad rally, which powered the Dow Jones industrial average to a gain of nearly 670 points. Microsoft was the biggest gainer in the 30-company Dow and the Standard & Poor’s 500 index, climbing nearly 8 percent.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Opening Bell: Markets open in green; Nifty at 10,187 pts, Sensex at 33,245 pts

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The markets on Tuesday opened largely in green, with the help of strong global cues. NSE’s Nifty on opened at 10,187 points, reclaiming 10,000 levels while BSE’s Sensex opened in safe range of 33,000 at 33,245 points. The financials took the lead as the government announced a lower-than-expected borrowing programme for April-Sept.

The metals, too, are seeing a relief rally due to positive global cues. The global metal markets adopted a buying strategy which helped in bringing in the relief.

As the news of US and China open to negotiation came out, foreign investors were seen in buying mood, giving the US market its best day in more than two years and erasing about half of its huge losses last week.

Technology companies accounted for much of the broad rally, which powered the Dow Jones industrial average to a gain of nearly 670 points. Microsoft was the biggest gainer in the 30-company Dow and the Standard & Poor’s 500 index, climbing nearly 8 percent.

On Monday, the market reversed the losses of the last two sessions and extended gains. NSE’s Nifty reclaimed 10,000 levels and closed at 10,130 points in Monday’s session.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Nifty can rally towards 10,300 if trade war fears ease, says Ashwani Gujral

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Nifty can rally towards the 10,250-10,300 range if the global trade war fears ease, says market expert Ashwani Gujral.

Ashwani Gujral, chief of ashwanigujral.com, said, “The market really thought trade wars were coming, whereas Donald Trump was just negotiating. If that is the case then the global problem is out of the picture and that could make the Nifty rally towards 10250-10300 and Bank Nifty can get back possibly towards 24800-24850 thereabouts. So, the global pullback can happen.”

The markets reversed the losses of the last two sessions and extended gains on Monday, as the slew of banks helped in pulling up the markets. NSE’s Nifty reclaimed 10,000 levels and closed at 10,130 points. Four out of five contributors to the Nifty are from financials with HDFC Twins as the top index gainers.

Gujral added, “Indian markets will bottom out once some sort of a higher low is made or at least 10,000 on the Nifty starts to get respected on the downside, otherwise this is just a pullback rally.”

Markets had opened flat on Monday as Asian Markets were recovering from weak global cues and trade war fears. NSE’s Nifty opened below 10,000 levels at 9,994.

US President Donald Trump set in motion a tariff hike of close to $60 billion on China on Thursday. The tariff hike came as a measure to ‘penalise’ China after Trump accused China of high-tech thievery, such as stealing the intellectual property of American companies. China, in retaliation, unveiled higher import duties on 128 U.S. goods including steel pipes, wine and fresh fruits.

“Next few days should be good for the global markets and you could see metals and banks recovering from lows given the amount of shorts they have,” he added.

The Nifty Bank index gained by over 4% in intra-day trading with SBI, Canara Bank, ICICI Bank and Bank of Baroda taking the lead in Monday’s session. Only IDFC bank underperformed, with the rest closing in the green. The index gained by 574 points – the biggest one-day gain in five months.

BSE’s Sensex gained over 400 points and reclaimed 33,000 levels on Monday’s close. The Nifty Midcap, though off its highs for a brief period in the previous session, recovered by 1.29%.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell: Markets close in green; Nifty, Sensex reclaim pre-trade war levels

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Markets reversed the losses of the last two sessions and extended gains today, as the slew of banks helped in pulling up the markets. The NSE’s Nifty reclaimed 10,000 levels and closed at 10,130 points. Four out of five contributors for the Nifty are from financials with HDFC Twins as the top index gainers.

Only 11 Nifty stocks closed in the red today due to a sustained rally of IT stocks. In today’s session, IT, pharma and oil marketing companies were under pressure, dragging the indices.

The BSE’s Sensex gained over 400 points and reclaimed 33,000 levels. The Nifty Midcap, though off its highs for a brief period today, recovered by 1.29%.

The Nifty Bank index gained by over 4% in intra-day trading with SBI, Canara Bank, ICICI Bank and Bank of Baroda taking the lead. Only IDFC bank underperformed today, with the rest closing in the green. The index gained by 574 points – the biggest one-day gain in five months.

The market breadth is mildly in the favour of declines and the Advance-Decline Ratio is at 3:4.

In the afternoon, benchmark indices have shown a slight recovery post the global trade war buzz. NSE’s 50 share Nifty hovered around the 9,900-10,000 range.

Markets had opened flat as Asian Markets were recovering from weak global cues and trade war fears. NSE’s Nifty opened below 10,000 levels at 9,994. While, BSE’s Sensex remained weak at 32,000 levels.

US President Donald Trump set in motion a tariff hike of close to $60 billion on China on Thursday. The tariff hike came as a measure to ‘penalise’ China after Trump accused China of high-tech thievery, such as stealing the intellectual property of American companies. China, in retaliation, unveiled higher import duties on 128 U.S. goods including steel pipes, wine and fresh fruits.

In world markets, Dow went down by 400 points, after it witnessed cuts of close to 6 percent last week .

Financial Major JP Morgan said that markets have been very off-base due to trade war fears. The markets may continue to show a weak performance.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Opening Bell: Markets open flat; Nifty stands at 9,994, Sensex at 32,500 levels

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Markets on Monday opened flat as Asian Markets were recovering from weak global cues and trade war fears. NSE’s Nifty opened below 10,000 levels at 9,994. While, BSE’s Sensex remained weak at 32,000 levels.

In world markets, Dow went down by 400 points, after it witnessed cuts of close to 6 percent last week .

Financial Major JP Morgan said that markets have been very off-base due to trade war fears. The markets may continue to show a weak performance today.

The U.S. market’s index Dow and S&P 500 dropped by 5.7% and 5.9% last week, while Nasdaq pulled back 6.5%. Dow Jones dropped 425 points to close at 23,533 on Friday, its lowest level since November.

The European stocks followed the Wall Street and closed lower on Friday as the fears of trade war escalated while the Singaporean market’s index SGX Nifty is currently trading flat with a negative bias, indicating that the Indian markets may open flat today.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Indian markets may open weak due to staggering trade war fears

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian markets may open weak today as the global markets continue to be affected by the trade war buzz.

“Markets have been very off-base with trade war fears,” Financial Major JP Morgan pointed.

The NSE’s 50-share Nifty breached its 10,000 levels and closed at 9,982 points after a volatile session. The BSE’s Sensex witnessed a 400 points drop at Friday’s close. Financials, energy and the auto firms were the major losers today while media and IT stocks had lent support.

The U.S. President Donald Trump set motion a tariff hike of close to $60 billion on China.  The tariff hike came as a measure to ‘penalise’ China after Trump accused China of high-tech thieveries, such as stealing the intellectual property of American companies. China, in retaliation, unveiled higher import duties on 128 U.S. goods including steel pipes, wine and fresh fruits.

Columbia University’s Economics Professor Joseph Stiglitz in an interview with CNBC said that Trump is challenging the ‘rule of law’ and the increase in tariffs would affect the economic growth.

The U.S. market’s index Dow and S&P 500 dropped by 5.7% and 5.9% last week, while Nasdaq pulled back 6.5%. Dow Jones dropped 425 points to close at 23,533 on Friday, its lowest level since November.

The European stocks followed the Wall Street and closed lower on Friday as the fears of trade war escalated while the Singaporean market’s index SGX Nifty is currently trading flat with a negative bias, indicating that the Indian markets may open flat today.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Nifty, Sensex struggle; IT stocks show recovery by 2%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The markets in the first half were seen extending losses. NSE’s Nifty50 further breached 10,000 levels and is currently trading at 9966 points. Though, the index made a slight recovery in the early trading hours, it failed to sustain it for longer due to weak global cues. BSE’s Sensex also showed a sharp fall, by 500 points, and currently stands at 32,523 points. Nifty Midcap and Nifty Bank continued to underperform.

The NSE’s 50-share Nifty on Friday opened at the same level as the pre-opening session, breaching 10,000 levels, the first time since October 12, 2017. While, BSE’s Sensex opened at 32,632 points, its lowest level since December 18, 2017.

The stocks that underperformed in the first hour of trade were pharma, IT, whereas, Biocon, outperformed with a 55% return. Majority of stocks including Hindalco, ICICI, Tata steel were showing a negative trend. However, later, IT showed a recovery where Infosys, Tech Mahindra, HPCL Tech and BPCL recovered by over 2% off day’s lows.

On the other hand, global markets opened weak . Japan’s Nikkei 225 index went down by 3.8% to 20,765.74, while South Korea’s Kospi tumbled 2.3% to 2,439.53. The SGX Nifty, however, slipped over 1% on Friday’s opening as against yesterday’s opening.

The U.S. President Donald Trump on Friday gave a thumbs up for a tariff hike on China. In response to this, China is likely to impose higher import duties on steel pipes, pork, etc.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Opening Bell: Markets tumble on weak global cues, Nifty breaches 10,000, Sensex underperforms

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The NSE’s 50-share Nifty opened at the same level as the pre-opening session, breaching 10,000 levels. This is the first time since October 12, 2017. While, BSE’s Sensex opened at 32,632 points, its lowest level since December 18, 2017.

However, Nifty managed to bounce back to 10,000 levels only to drop again, minutes after its opening. Whereas, BSE’s Sensex dropped and was struggling at 32,000 levels. The stocks that underperformed were pharma, IT stocks, whereas, Biocon, outperformed with a 55% return. Majority of stocks including Hindalco, ICICI, Tata steel were showing a negative trend in the first hour of trade.

On the other hand, global markets opened weak . Japan’s Nikkei 225 index went down by 3.8% to 20,765.74, while South Korea’s Kospi tumbled 2.3% to 2,439.53. The SGX Nifty, however, slipped over 1% on Friday’s opening as against yesterday’s.

The U.S. President Donald Trump on Friday gave a thumbs up for a tariff hike on China. In response to this, China is likely to impose higher import duties on steel pipes, pork, etc.

On Thursday, markets opened in a positive trend, however, failed to sustain recovery. NSE’s 50-share Nifty closed just above 10,100, while BSE’s Sensex closed at 33,001 points, down 130 points.Midcaps underperformed as the index closed with a one percent cut. Nifty Bank lost 0.47%, closing at 24,141 points.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow