31 May , 2022 By : monika singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian benchmark indices opened gap-down amid weak global cues, steep rise in crude oil prices. The BSE Sensex fell 400 points to 55,525, while the NSE Nifty 50 shed 100 points to 16,560. Among the Sensex-30 shares, Sun Pharma, HDFC, Infosys, HCL Tech, Titan, Kotak Bank, Wipro, TCS and Tech Mahindra were the top laggards, falling 1-2 per cent. PowerGrid, M&M, Tata Steel and NTPC were the only gainers. In the broader markets, the BSE MidCap and SmallCap indices opened flat. Sectorally, auto, metal, PSU Bank and Realty stocks were gaining. On the flip side, IT, Financial Services, FMCG stocks were in red.
Sectorally, auto, metal, PSU Bank and Realty stocks were gaining. On the flip side, IT, Financial Services, FMCG stocks were inBenchmark indices opened lower amid weak global cues. The BSE Sensex fell 400 points to 55,525, while the NSE Nifty shed 100 points to 16,560. red. Broader markets outshined benchmark, while India Vix slipped 1%
Among the Sensex-30 shares, Sun Pharma, HDFC, Infosys, HCL Tech, Titan, Kotak Bank, Wipro, TCS and Tech Mahindra were the top laggards, falling 1-2 per cent. PowerGrid, M&M, Tata Steel and NTPC were the only gainers.
Financial markets around the world have had a rough start in 2022. Equity indices are tumbling from all-time highs and bond yields continue to trend upwards. Central Banks have begun raising rates and are tightening the supply of “easy money” to combat the woes of rampant inflation. The Russia-Ukraine conflict and lockdowns across major cities in China continue to cause supply-chain disruptions and have only added fuel to the fire. The stock markets in India have seen heightened volatility as well which has made investors uneasy after a tremendous bull run over the last ~2 years.
Local gauges may start on a cautious note amid steady weakness in SGX Nifty, but gains in other Asian gauges could help revive sentiment. The markets, however, will be keenly awaiting India's GDP numbers for the March quarter that will trickle in later in the day. The biggest concerns about the inflation, economy and earnings is that WTI Oil has again firmed up above $116 a barrel. However, helping sentiments are key positive catalysts like Nifty is building ‘bullish double bottom pattern’, early arrival of monsoon, fresh stimulus in China, easing China covid curbs and the US Dollar index dropping from a multi-decade high.”
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