Sensex Today: Stock Market Highlights: Nifty50 forms small bearish candle – The Economic


Nifty50 on Wednesday fell for the fourth straight day. This formed a small bearish candle on the daily chart, with a long upper wick, reflecting selling at highs. Analysts said the index has been respecting its support of 15,671 on a closing basis and as long as it keeps respecting that, chances of some bounce cannot be ruled out. They see support shifting to 15,400-300 levels, if the level is breached.

!1 New UpdateClick here for latest updates

Wall Street opens higher ahead of Fed’s rate decision

Wall Street’s main indexes opened higher on Wednesday, boosted by gains in beaten-down growth and bank stocks, with investors waiting to see how high the Federal Reserve would raise interest rates to quell inflation at its policy meeting.

  • The Dow Jones Industrial Average rose 205.67 points, or 0.68%, at the open to 30,570.50.
  • The S&P 500 opened higher by 28.57 points, or 0.76%, at 3,764.05, while the Nasdaq Composite gained 140.06 points, or 1.29%, to 10,968.40 at the opening bell.
Wall Street opens higher ahead of Fed's rate decision

Bitcoin falls to fresh 18-month low as crypto meltdown deepens

Bitcoin tumbled on Wednesday to a new 18-month low, dragging smaller tokens down with it and deepening a market meltdown sparked by crypto lender Celsius this week freezing customer withdrawals. The world’s largest cryptocurrency fell as much as 7.8% to $20,289, its lowest since December 2020. It has lost around 28% since Friday and more than half of its value this year. It has slumped about 70% from its record high of $69,000 in November. The digital currency sector has been pummelled this week after U.S. crypto lender Celsius froze withdrawals and transfers between accounts, stoking fears of contagion in markets already shaken by the demise of the terraUSD and luna tokens last month.

Bitcoin falls to fresh 18-month low as crypto meltdown deepens

Market Tech View

The volatility continued in the Nifty index ahead of the crucial US FOMC meet outcome. The index lower-end support stands at 15,500 where fresh put writing has been observed and if fails to sustain above it will witness further selling pressure. The upper-end resistance stands at 16,000 where the highest open interest is built up on the call side.

The Bank Nifty index witnessed a range-bound trading session and will witness sharp movement on either side post the FOMC meeting. The immediate upper-end hurdle stands at 34,000 and a breach above that will lead to fresh short covering. The lower-end support stands at the 33,000-32,500 zone which has earlier acted as the demand zone.

Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

Looming fears of stagflation and volatility ahead of the Fed meeting decision forced the market to close flat with a negative bias. The aggressive rate hike of 50-75 bps is mostly factored by the market but updated economic and interest rate forecasts to be detailed by the central bank’s will closely control the future trend.

– Vinod Nair, Head Of Research at Geojit Financial Services

Yes Bank seeks shareholders’ nod for raising up to Rs 10,000 cr debt capital

Yes Bank will seek shareholders’ approval next month to raise debt capital of Rs 10,000 crore through various modes on private placement basis. The bank’s annual general meeting is scheduled for July 15, 2022. “For enabling the bank to evaluate a potential fund raising at an appropriate time, the board of directors seek approval from members of the bank for borrowing/raising funds in Indian/foreign currency by issue of debt securities up to Rs 10,000 crore,” Yes Bank said in a regulatory filing.

Market View: Ajit Mishra, VP – Research, Religare Broking

The equity markets traded nervously ahead of the US Fed meet outcome. While strength was seen in the morning, selling pressure in the second half dragged the indices lower. The broader markets outperformed wherein Midcap and Smallcap ended with healthy gains of 0.5% each. Amongst the sectors, Auto, Capital Goods, and Healthcare ended with gains whereas Metal, Oil & Gas and Power ended with losses.

All eyes would be on the US Fed meet outcome. The street seems to be divided over the quantum of rate hike between 50-75 bps. Apart from this, commentary from the US Fed would also be actively tracked by the investors. Meanwhile, participants should remain light and wait for clarity.

How different sectors performed in today’s trade

How different sectors performed in today's trade

Sensex Heatmap: 14 of 30 index stocks close higher

Sensex Heatmap: 14 of 30 index stocks close higher

Closing Bell: Sensex falls for 4th straight session, ends 152 pts lower; Nifty below 15,700; ONGC sheds 3%, NTPC 2%

Rakesh Jhunjhunwala, wife sell Delta Corp shares in June, own 3.36% stake now

Ace Investor Rakesh Jhunjhunwala, along with persons acting in his concerts, have been selling shares of Delta Corp all this June. Rakesh Jhunjhunwala and his better half Rekha sold 60 lakh Delta Corp shares between June 1 and June 10, which was 2.24 per cent of total issued and paid up capital of the company. They sold a further 15 lakh shares in the company between June 13 and June 14, which was a total 0.56 per cent of the total issued and paid up capital. This has led to a drop in his holding in Delta Corp to 90 lakh shares or 3.365 per cent from 1.65 crore or 6.169 per cent stake as of May 31.

Adani Transmission Limited (ATL) on Wednesday said its USD 700 million revolving loan facility has been tagged as ‘green loan’ by Sustainalytics. Sustainalytics, a Morningstar Company, provides analytical environmental, social and governance (ESG) research, ratings and data to institutional investors and companies.

Price as on 15 Jun, 2022 02:33 PM, Click on company names for their live prices.

Top 5 gainers in later afternoon trade

Price as on 15 Jun, 2022 02:19 PM, Click on company names for their live prices.

I think the probability of crude going higher from the current levels to maybe $130-140 are far bigger and probably going to happen earlier than crude going back towards $100.

– Vandana Hari, Founder & CEO, Vanda Insights

Tyre stocks in the green, rise up to 3%

Price as on 15 Jun, 2022 01:38 PM, Click on company names for their live prices.

European stocks rally as ECB holds surprise meeting

European stocks rallied in early trade on Wednesday, after a spokesperson of the European Central Bank said its rate-setting Governing Council would hold an unscheduled meeting to discuss the recent sell-off in government bond markets. An index of euro zone shares climbed 1.3% by 0706 GMT, while the pan-European STOXX 600 index added 0.8%. Italian bank stocks, which have taken a hit recently on fears about Rome’s surging debt costs, rallied.

Market LIVE Updates: Top Sensex contributors in afternoon session

Market LIVE Updates: Top Sensex contributors in afternoon session

Paytm rise 3% after reporting 471% jump in loan disbursals

Shares of One97 Communication rose by 3 per cent to Rs 624 in Wednesday’s trade after the company said that their lending division performed strong and witnessed a run-rate of over Rs 23,000 crore worth of loan disbursements during April-May 2022. Paytm’s lending entity showcased a 471 per cent growth with 5.5 million loan disbursements, the company said in a release. The total loan value for the two months grew by 829 per cent, which aggregates to Rs 3,576 crore, it added.

Top 5 gainers in tourism & hospitality stocks

Price as on 15 Jun, 2022 12:32 PM, Click on company names for their live prices.

Keeping in mind the level of inflation in the US, it is no brainer that the US Fed will hike the rate by 75-bps. But this is not the last 75bps hike we expect from the Fed. There is a very high probability that the Fed could hike by another 75-bps by July. Inflation is one primary concern that will keep the Fed on its toes; hence, we are likely to see a couple more hikes post-July as well.

– Sunil Damania, Chief Investment Officer, MarketsMojo

Market LIVE Updates: Top stocks from NSE500 that hit 52-week lows

Market LIVE Updates: Top stocks from NSE500 that hit 52-week lows

True Beacon launches wealth management service for UHNIs

Financial services company True Beacon on Wednesday launched a new wealth management service True Beacon Wealth for ultra-high net worth individuals (UHNIs) across the globe. Operating under a Sebi portfolio management services licence, the company will manage wealth across all asset classes for leading entrepreneurs, individuals, families and institutional investors, co-founder of True Beacon Richard Pattle said.

Market LIVE Updates: Tata Steel shares turn ex-dividend today, rise 3%

Shares of Tata Steel rose by nearly 3 per cent to Rs 974.15 in early trade on Wednesday as the stock turned ex-dividend ahead of the record date for the final dividend payment on June 16. For the financial year 2021-22, the board of directors of Tata Steel recommended a Rs 51 final dividend per equity share. Tata Steel in a filing said, “The final dividend, if approved by the Members of the Company at the AGM, will be paid on and from Saturday, July 2, 2022.”

Union Cabinet approves DoT’s proposal to hold 5G auctions

Price as on 15 Jun, 2022 11:03 AM, Click on company names for their live prices.

Market LIVE Updates | EXCLUSIVE: LIC boss on stock market fall, business outlook

Hero MotoCorp-backed electric two-wheeler maker Ather Energy is in talks with several state governments to set up a new manufacturing facility in the country, according to sources.

Price as on 15 Jun, 2022 10:40 AM, Click on company names for their live prices.

Market LIVE Updates: Top 5 losers on NSE in morning trade

Price as on 15 Jun, 2022 10:30 AM, Click on company names for their live prices.

Rupee inches 5 paise higher to 77.99 against US dollar in early trade

The rupee opened on a flat note and inched higher by 5 paise to 77.99 against the US dollar in opening trade on Wednesday. Forex traders said lacklustre domestic markets, elevated crude oil prices and persistent foreign capital outflows weighed on the local unit. At the interbank foreign exchange, the rupee opened at 77.99 against the dollar, registering a rise of 5 paise over its previous close. On Tuesday, the rupee had closed at its lifetime low of 78.04 against the US dollar.

Market LIVE Updates: BSE Smallcap index jumps 0.5%

Market LIVE Updates: BSE Smallcap index jumps 0.5%

Market LIVE Updates: More than the quantum of the rate hike (50 or 75 bp) it would be the message from the Fed in today’s policy announcement that would determine the market direction. The market is prepared for a 75bp rate hike and, therefore, that decision, if it comes, is unlikely to rattle markets. In India, relentless FPI selling is the major negative. With dollar index above 105 and US 10-year bond yield at 3.46 %, FPIs are likely to continue selling, pulling the market down from every rally. A sustained upward move in the market is possible only when the FPIs substantially reduce selling. The only sensible investment strategy in this scenario is to slowly accumulate high quality stocks whose prices are depressed not because of poor fundamentals, but sustained FPI selling.

– Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services



Read More: Sensex Today: Stock Market Highlights: Nifty50 forms small bearish candle – The Economic

Notify of
Inline Feedbacks
View all comments