Tag: sensex

Indian markets may open weak due to staggering trade war fears

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

Listen to the Article (6 Minutes)

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

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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, 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

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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 tumble on weak global cues, Nifty breaches 10,000, Sensex underperforms

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

Listen to the Article (6 Minutes)

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

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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 likely to trade between 10,000-10,250 for several days, says Ashwani Gujral

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

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Nifty is likely to be range-bound between 10,000-10,250 levels for several days, market expert Ashwani Gujral said.

The U.S. Federal Reserve raised interest rates overnight by 25 basis points. This led to the U.S. markets ending on a lower note. Indian Indian markets may also react negatively on Thursday morning and follow global cues.

Markets closed higher on Wednesday but were off the day’s high towards the last trading hour. Nifty had slipped 72 points from intra-day high of 10,218 and closed below 10,200 levels.

For the past one week, the NSE’s Nifty index has been struggling between 10,000 and 10,100 and has hardly reached 10,200 levels.

Over 1,414 shares declined against 1,261 advancing shares on BSE.  The Advance-Decline ratio stood at 1:1 ratio during the previous close as against its opening level, 4:1.

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: Nifty 50 and Sensex recover just before market close

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

Listen to the Article (6 Minutes)

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

Market Live: Sensex and Nifty in the red after touching day’s high

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

Listen to the Article (6 Minutes)

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: Benchmark indices recover in last hour, Sensex closes at 33351 & Nifty at 10233 points

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

Listen to the Article (6 Minutes)

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