14 Jun , 2022 By : monika singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets started Tuesday’s session in the red, falling 330 points or 0.60% to hover above 52,500 levels while the Nifty 50 index was down nearly 100 points or 0.62% to move around 15,650. Bank Nifty was down 0.80% at 33,150 while India VIX was down with losses, but still above 22 levels. Bharti Airtel was the top gaining stock on Sensex, up 1.2%, followed by Power Grid, Mahindra & Mahindra, and NTPC. Asian Paints was down 2.4% as the worst performer, accompanied by Asian Paints, Tech Mahindra, and IndusInd Bank.
The sharp increase in prices eased in the month of May as retail inflation clocked in at 7.04%, down from an 8-year high of 7.79%. However, the Consumer Price Index (CPI) based inflation was still way above the Reserve Bank of India’s tolerance band of 2-6%. “India’s retail inflation softened marginally to 7.04% in May from an eight-year high of 7.79% in April, aided by a favourable base,” said Care Ratings. “Food continues to remain the main driver with a nearly 50% contribution to total inflation. At 7.84% in May, food inflation witnessed a moderation from 8.1% last month,” they added. RBI’s MPC has so far announced two rate hikes in an attempt to tame inflation. The central bank is expected to go for another rate hike in the next policy meeting. However, US inflation has set a new 40-year high which may prompt US Fed to take more aggressive rate hikes.
“Benchmark Indices are expected to open on a negative note as trends on SGX nifty indicates a gap down opening with 92 points loss. The correction in global counterparts after hotter than expected US inflation data, weakening rupee and FII selling pressure dented market sentiment on June 13. The Fed is scheduled to make its next policy announcement on Wednesday and investors will be highly focused on any clues for how aggressive the central bank intends to be in raising rates. Cryptocurrency and blockchain related stocks, including Riot Blockchain (RIOT.O), Marathon Digital Holdings (MARA.O) and Coinbase Global (COIN.O), all plunged as bitcoin slumped more than 10?ter major U.S. cryptocurrency lending company Celsius Network froze withdrawals and transfers citing “extreme” conditions. Crucial support for Nifty 50 is 15,500 while Nifty may face some resistance at 16,300,”
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