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Bulls have managed to hold the 16000 mark as bears remained at the helm throughout the day. So far, bears have taken 400 points from the market in the last few days. Over the near term, 16000 is likely to act as the line of polarity; a fall below 16000 may trigger a severe correction in the market.
– Rupak De, Senior Technical Analyst at LKP Securities
Market View: Vinod Nair, Head Of Research at Geojit Financial Services
Domestic indices wavered tracking mixed sentiments from the global markets as investors assessed the possibility of a recession in the US followed by the Fed policy tightening. Global markets are awaiting the release of the Fed minutes, which will be evaluated for details on the path of the upcoming rate hikes. In this whipsaw market, investors can resort to defensives & value stocks & sector.
#MarketsWithETNOW | #Nifty declines 3 days in a row, down almost 4% in that time #StocksToWatch #StockMarket https://t.co/QxK1YCOkbh
— ET NOW (@ETNOWlive) 1653472803000
Top 5 gainers & losers in today’s session
Price as on 25 May, 2022 03:37 PM, Click on company names for their live prices.
IT pack bleeds the most among sectoral indices
Closing Bell: Sensex extends losing run to 3rd day, drops 303 pts; Nifty ends below 16,050; Asian Paints tanks 8%, TCS 3%
Q4 Results: Max Healthcare
#EarningsWithETNOW | Max Healthcare Q4 with consolidated revenue stands at Rs 939 cr vs Rs 802 cr YoY… https://t.co/rMzu8HvTzu
— ET NOW (@ETNOWlive) 1653471833000
These stocks defy market mood, rally up to 7%
Price as on 25 May, 2022 02:55 PM, Click on company names for their live prices.
How a bad quarter can impact a stock
A bad quarter knocks off 40% off a company’s market cap. That’s how fast market prices risk in today’s environment ! #snap
— Basant Maheshwari (@BMTheEquityDesk) 1653408441000
“In the six previous longer declines, the lows in the first seven months equated to a median of two-thirds of the eventual price damage. Overlaying this would give a target of 14,500 for the Nifty, i.e., a 21 per cent fall from the top with the 12-month forward PE falling near its average of 16 times,” said CLSA. “So far, this is also a rare instance when the Nifty has clearly outperformed EM and not underperformed the US during a decline.”
Aether Industries IPO subscribed 43% on day 2
- According to the data from BSE, the investors made bids for 9,84,952 equity shares or 43 per cent compared to the 40,55,544 equity shares offered for the subscription by 2.15 pm on Wednesday, May 25.
- The quota for retail bidders was subscribed 60 per cent, whereas the allocation employees fetched 57 per cent bids. The allocation for HNI’s was subscribed merely 10 per cent, whereas the QIB portion feteched 39 per cent bids.
European shares climb after selloff with eyes on cenbank updates
European shares rose on Wednesday, with positive data from German lifting sentiment, while investors watched for updates from central banks on monetary policy tightening amid rising fears of an economic slowdown. The pan-European STOXX 600 index rose 0.8% by 0714 GMT, buoyed by gains across all sectors. The index had tumbled 1.1% in the previous session, giving up almost all of Monday’s gains. Stocks globally recovered after a sell-off, with a gauge of Asian shares rising 0.4% and U.S. stock futures firming.
Sensex today live: Index tanks 300 points, looks set to end lower for 3rd day
To control domestic inflation and steer more sugarcane into ethanol production, the Centre has placed a 10-million-tonne limit on sugar exports this season, despite record overseas sales. This is the first time India has done so in six years with sugar exports. Because of recent market correction followed with this news, most sugar stocks have plummeted 30 to 40% from 52-week highs, but export restrictions will make more surplus sweetener accessible for domestic ethanol production, which is a primary government aim. The sugar sector is undergoing a massive transformation and has emerged as a powerful clean energy driver, accelerating India’s transition to renewable energy. Increased cane diversion to ethanol will alleviate the problem of excess sugar inventories and minimize company volatility, resulting in improved profitability, lower working capital, and stronger long-term cash flows. To solve the problem of excess sugar, the government is encouraging sugar mills to shift excess sugarcane to ethanol production.
– Mohit Nigam, Head – PMS, Hem Securities on sugar export restrictions
Cabinet approves stake sale in Hindustan Zinc: ET NOW
#ETNOWExclusive | Cabinet approves stake sale in Hindustan Zinc, as per sources. Govt to sale its entire stake in H… https://t.co/6Haxq86Wwz
— ET NOW (@ETNOWlive) 1653464629000
NTPC: Aim to list renewable energy arm in early FY24; preparatory work for NTPC Renewable Energy IPO underway (Source: Informist)
Price as on 25 May, 2022 01:02 PM, Click on company names for their live prices.
BLOCK DEAL: 15.4 lakh Vedanta shares change hands; stock down 1%
Price as on 25 May, 2022 12:50 PM, Click on company names for their live prices.
Market LIVE Updates: Digit Insurance targets $5 bln in IPO valuation: Reuters
- India’s Digit Insurance, backed by Canadian billionaire Prem Watsa’s Fairfax Group, is considering raising about $500 million in an initial public offering at a valuation of $4.5 billion to $5 billion, three people aware of the matter told Reuters.
- Founded in 2017, Digit is trying to capitalise on India’s under-penetrated general insurance market along with users’ need for a better customer experience like easier claim settlements, though IPOs in the country have not done well in the past few months.
These Nifty stocks gain even as index declines
Tweet of the day!
What did one bear say to another: Let us paint the town red.
— Samir Arora (@Iamsamirarora) 1653460102000
Market LIVE Updates: Nifty slips below 16,100
APSEZ quarterly profit falls 22% to Rs 1,033 crore
Adani Ports and Special Economic Zone Limited (APSEZ)has reported a 21.78 per cent decline in consolidated net profit to Rs 1,033 crore for the fourth quarter ended March 2022. The country’s largest integrated logistics player had clocked a consolidated net profit of Rs 1,321 crore in the corresponding period of the previous fiscal, according to a BSE filing late Tuesday. Consolidated total income of the company increased to Rs 4,417.87 crore for the fourth quarter of the last fiscal as against Rs 4,072.42 crore in the year-ago period.
Block deal in Zomato: 25.7 lakh shares change hands
Market LIVE Updates: Ultratech wins SC order on Rail Freight Project; SC halts Shree Cement’s work on Chattisgarh freight project for 6 weeks
Price as on 25 May, 2022 11:21 AM, Click on company names for their live prices.
Though pull back has stretched beyond our downside marker of 16170, the upside trajectory towards 16500-700 does not look broken. As maintained yesterday, we continue to favour a consolidation, and will wait for a slippage past 16025 to consider the prospects of an outright collapse. Until then, we will retain upside hopes, with 16100 and 16266 as the two turnaround points today.
– Anand James – Chief Market Strategist at Geojit Financial Services
Palm eases as India allows duty-free imports of competing oils
Malaysian palm oil futures eased on Wednesday after a three-session rally, weighed down by demand worries after top buyer India allowed duty-free imports of competing soy and sunflower oils. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange fell 54 ringgit, or 0.83%, to 6,428 ringgit ($1,464.24) a tonne by the midday break, after swinging between slight gains and losses in early trade.
Market LIVE Updates: IT stocks bleed the most; check out top losers from the pack
Price as on 25 May, 2022 10:50 AM, Click on company names for their live prices.
Why are markets under pressure? Vineet Bagri decodes
a) the velocity of rate hikes globally,
b) the trajectory of inflation over the medium term,
c) the probability of earnings estimates being toned down,
d) the extent to which global growth will slow down over the next 1 year,
e) the unending supply chain disruptions,
f) heightened raw material pressures,
g) the large FPI outflows every month since October 2021.
Cumulatively, these factors have had a sobering effect on market flows and valuation
Sensex today LIVE: Index erases all gains, trades marginally in the red
Indian shares opened higher on Wednesday but soon afterwards slipped into the red tracking losses in IT and FMCG stocks. Street eyed US FOMC mins scheduled to be released later. Meanwhile, volatility remained high ahead of the F&O expiry.
WATCH: JP Morgan’s Sanjay Mookim explain how to inflation proof your portfolio
#BeatTheStreet | Sanjay Mookim of @jpmorgan on – Making your portfolio #inflation proof – Downgrade on I.T.… https://t.co/HtbYYNmcxq
— ET NOW (@ETNOWlive) 1653453468000
Market View: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
The government’s initiatives to rein in inflation indicate margin compression for segments like sugar, edible oil and metals. But firms with pricing power can weather this storm.
The decline in the dollar index and the US 10-year bond yield is a near-term positive for emerging markets but that will be insufficient to improve market sentiments which are weak.
Market Live Updates: SpiceJet shares reversed losses and saw a sharp rally after the it said that the company and Credit Suisse have filed final settlement in Supreme Court
Price as on 25 May, 2022 09:38 AM, Click on company names for their live prices.
Aditya Birla Group firm Grasim Industries on Tuesday said it has doubled the Capex for its foray into the paints business to Rs 10,000 crore and expects to start production from the fourth quarter of 2023-24. In August last year, Grasim Industries’ board had approved a Rs 5,000 crore capital expenditure (CAPEX) plan to set up a paints business.
Price as on 25 May, 2022 09:34 AM, Click on company names for their live prices.
Voda Idea, YES Bank, SAIL, Adani Power among most active stocks on NSE
Price as on 25 May, 2022 09:31 AM, Click on company names for their live prices.
Sector Watch: IT pack sole sectoral loser in opening deals
OPENING BELL: Sensex gains 300 points, Nifty tops 16,200; IndusInd rises 2%, Asian Paints drops 2%
Pre-open session: Sensex rises 200 points, Nifty nears 16,200
Market Live Updates: US Fed to release minutes of May policy meet today
On Wednesday, investors will get a more detailed glimpse into the Fed’s decision-making process with the release of minutes from the latest policy meeting. The US central bank is raising interest rates aggressively from historic lows, but investors are concerned that it could go too far in raising rates or move too quickly. That could slow down businesses and potentially bring on a recession in the US, AP reported.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 37.50 points, or 0.23 per cent, higher at 16,136.50, signaling that Dalal Street was headed for a positive start on Wednesday.
Tech View: Nifty50 may stay rangebound
Nifty50 on Thursday formed a small bearish candle on the daily chart and negated its higher high-low formations. That said, it stayed rangebound in an otherwise weak day for global equities. Analysts expects the index to keep trading in the broad range of 15,900-16,400 going ahead.
Hong Kong stocks open flat
Hong Kong shares opened barely moved Wednesday morning following a tepid lead from Wall Street as traders fret over the impact of US interest rate tightening. The Hang Seng Index inched up 3.46 points to 20,115.56. The Shanghai Composite Index was barely moved, dipping 0.76 points to 3,070.17, while the Shenzhen Composite Index on China’s second exchange added 0.18, or 3.43 points, to 1,925.90.
Market Live Updates: Japan stocks open lower after falls on US tech shares
Tokyo stocks opened lower on Wednesday after US stocks mostly retreated on concerns about growth following a profit warning from the owner of Snapchat that shocked the tech sector. The benchmark Nikkei 225 index was down 0.13 percent, or 36.02 points at 26,712.12 in early trade, while the broader Topix index was down 0.08 percent, or 1.56 points, at 1,876.70.
Technology stocks pull Wall Street lower
Stocks on Wall Street gave up more ground Tuesday amid mounting worries that persistently high inflation will dim corporate profits. The S&P 500 fell 0.8%, while the Nasdaq dropped 2.3%. The Dow Jones Industrial Average eked out a 0.2% gain, thank’s primarily to big gains for McDonald’s and UnitedHealth. Big technology and communications companies helped weigh down the broader market, though some of the selling eased by late afternoon.
Rupee slips 2 paise to close at 77.57 against dollar
The rupee slipped by 2 paise to close at 77.57 against the US dollar in restricted trade on Tuesday, weighed down by a negative trend in domestic equities and unabated foreign fund outflows. Suspected RBI intervention and the US dollar falling to a month’s low against major global currencies capped the rupee’s losses, analysts said. At the interbank foreign exchange market, the rupee opened lower at 77.56 against the greenback, and finally settled at 77.57, down 2 paise over its previous close.
Market Live Updates: Sensex, Nifty on Tuesday
Market benchmarks racked up losses for the second straight session on Tuesday, in tandem with a lacklustre trend in global equities as worries about economic recovery and inflation kept sentiment subdued. The 30-share BSE Sensex opened higher but could not carry forward the momentum in see-saw trade. It finally closed 236 points or 0.43 per cent lower at 54,052.61. On similar lines, the broader NSE Nifty dropped 89.55 points or 0.55 per cent to end at 16,125.15.