Sensex ends 152 pts lower ahead of US Fed decision; Nifty dips below 15,700

CLOSING BELL: NTPC, Infosys, HUL, Wipro, and RIL slipped over 1 per cent each

4:07 PM

Nifty technical view: Lower-end support for the index at 15,500

The volatility continued in the Nifty index ahead of the crucial US FOMC meet outcome.

The 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.

Views by Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

 

4:04 PM

Closing view: 50-75 bps Fed hike priced in by market

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.

Views by Vinod Nair, Head of Research at Geojit Financial Services

 

4:02 PM

Rupee erases some losses to close at 78.07 vs dollar

This was a new closing low.

The rupee fell 1.4 per cent against the greenback, or 109 paise.

 

 

4:00 PM

Sugar stocks see fag-hour buying on report govt may raise export limit to 11 mln tn

3:58 PM

BPCL, Coforge, Crompton Greaves hit 52-week lows

check full list here

3:55 PM

Infibeam Avenues sheds 1.2% after co appoints Rahul Hirve as CEO of CCAvenue softPoS

3:52 PM

Canara Bank slips 2%; board to meet June 24 to mull fund raise

3:50 PM

GPT Infra ends 1% up on incorporating new subsidiary to make concrete sleepers

3:49 PM

NLC India gains 1.2% on appointing Engineers India as PMC

Company has appointed Engineers India Ltd as Project Management Consultant for Methanol Project.

3:45 PM

Broader markets defy weak trend; MidCap, Smallcaps end 0.5% up

3:42 PM

Sectoral trends: Metals, IT , Energy packs slide; Auto races ahead

3:40 PM

Nifty top losers: ONGC, NTPC decline up to 3%, IT stocks weigh

3:38 PM

Nifty top gainers: Bajaj twins, Auto majors lead winners

3:36 PM

Sensex heatmap: 16 stocks close in red; RIL, Infosys slip 1%

 

3:34 PM

Closing Bell: Nifty50 closes below 15,700 ahead of US Fed outcome

3:32 PM

Closing Bell: Markets slide for 4th say; Sensex ends choppy session with a loss of 152 pts

3:30 PM

Bitcoin, Ethereum plunge to new 52-week lows amid current market rout

3:24 PM

Adani Transmission's $700-mn revolving facility gets 'green loan' tag

Adani Transmission Limited (ATL) on Wednesday said its $700 million revolving loan facility has been tagged as 'green loan' by Sustainalytics. Read here

3:14 PM

JUST IN: Govt mulling raising sugar export threshold to 11 million tonnes

source: TV report

3:09 PM

European markets move higher ahead of US Fed policy decision

source: finance.yahoo.com

3:05 PM

NEWS ALERT

2:58 PM

WTO members make final push for trade deals, with eyes on defiant India

During its June 12-15 ministerial conference, its first major meeting in over four years, the 164-member body is seeking to agree on a response to the COVID-19 pandemic, a reduction of fishing subsidies, pledges on food security and the launch of an internal reform. READ MORE

2:48 PM

Five Tata Group stocks turn ex-dividend; Tata Steel gains, others slip

On May 3, 2022, the board of directors of Tata Steel, in order to enhance the liquidity in the capital market, to widen shareholder base and to make the shares more affordable to small investors, considered and approved the proposal for sub-division of 1 equity share of the Company having face value of Rs 10 each into 10 equity shares of the Company having face value of Re 1 each. READ MORE

2:40 PM

Crypto rout continues; Bitcoin hits over 18-month low

2:33 PM

MARKET OUTLOOK :: 'No strong reversal confirmation seen yet'

Nifty June series continues to trade with a negative bias – no strong reversal confirmation seen yet.

Short term momentum parameters also suggest possibility of high volatility in the near term coinciding with the Fed decision on interest rates.

Critical medium term trend support is seen at 15,500, below which trend gets challenged. Advice being extremely selective for the near term

Views by: Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities

2:25 PM

NEWS ALERT :: Infibeam Avenues appoints Rahul Hirve as CEO of CCAvenue softPoS, India

>> We wish to inform you that the Company has appointed Mr. Rahul Hirve as the Chief Executive Officer of CCAvenue softPoS, India, effective from today i.e. June 15, 2022

2:20 PM

Investors become increasingly sceptical of ESG amid Goldman investigation

Retail investors are slowly starting to look under the hood of the $40 trillion environmental, social and governance industry that’s increasingly steering their savings, and many aren’t liking what they see. What’s more, some of the biggest names in finance have been tainted by greenwashing allegations, with Goldman Sachs Asset Management and the investment arm of Deutsche Bank AG among the most prominent. READ MORE

2:12 PM

NEWS ALERT :: ECB to hold emergency meeting to discuss market rout

>> The European Central Bank announced an unscheduled monetary policy meeting for Wednesday, at a time when bond yields are surging for many governments across the euro zone.

>> Borrowing costs for many governments have risen sharply in recent days. In fact, a measure known as Europe’s fear gauge — the difference between Italian and German bond yields which is widely watched by investors — widened the most since early 2020 earlier on Wednesday.

 

>> The yield on the 10-year Italian government bond also passed the 4% mark earlier this week.

2:06 PM

US Fed Policy :: Here's what leading global brokerages expect from June meeting

75-bps hike

Barclays

Deutsche Bank

CapEcon

Goldman

JPMorgan

Jefferies 

Nomura

SocGens

TD

Wells

50-bps hike
 

BNP

BofA

Citi 

Credit Suisse 

HSBC 

Morgan Stanley 

StanChart

2:02 PM

May Trade Data :: Deficit at record $24.29 bn

Imports in April-May 2022-23 increased 45.42 per cent to USD 123.41 billion. The trade deficit during the first two months of this fiscal widened to USD 44.69 billion against USD 21.82 billion in the year-ago period. READ MORE