Sensex, Nifty Updates: Sensex and Nifty opened lower on monthly F&O expiry day, amid weakness in global counterparts, as increase in surge of virus cases kept sentiments negative worldwide.Extending fall for the second straight day, Sensex fell 190 points lower at 34,734 on Thursday's session and Nifty fell 46 points to 10,258. Domestic indices closed majorly bearish after a volatile session on Wednesday. Sensex closed 561 points lower at 34,868 and Nifty fell 165 points lower to 10,305. Meanwhile, companies set to announce their earnings are Ashok Leyland, IDFC, CONCOR, HAL, Apollo Hospitals, IOB, Bank of India, ION Exchange, Indiabulls Ventures, Endurance Tech, JB Chemicals, ICRA among others
Here's a look at the updates of the market action on BSE and NSE today
10.02 AM: Oil prices drop today
Oil price fell on thin volumes as spike in coronavirus brought up worries of lower demand which was expected to make a comeback. Oil prices tumbled as much as 5%, or more than $2 a barrel on Wednesday.
9. 52 AM: Rupee outlook
Expressing views on rupee's outlook, Anuj Gupta (DVP-Commodities & Currencies Research, Angel Broking) said,"We are expecting appreciation in rupee supported by the record increase in forex reserves. It increased by $5.92 billion to touch lifetime high of $507.644 billion. Weakness in dollar is also supportive for USDINR."
9.41 AM: Expert outlook on market trend
Commenting on market trend, Vinod Nair, Head of Research at Geojit Financial Services said, "The rising cases of virus infections worldwide, especially in the Americas, unnerved the global markets. Domestic cases too show no signs of abating and this must be weighing in on the investors."
9.30 AM: Global cues
Asian markets fell, tracking bearishness from Wall Street stocks and oil prices as surging coronavirus cases in US and the International Monetary Fund's downgrade to global economic projections shook confidence in a recovery. MSCI's gauge of stocks across the globe shed 2.24%.
On Wednesday, three U.S. states reported record increases in new cases - Florida, Oklahoma and South Carolina - driving the negative sentiment. Seven others had record highs earlier in the week. Yesterday, on Wall Street, the Dow Jones Industrial Average fell 2.72%, the S&P 500 lost 2.59% and the Nasdaq Composite dropped 2.19%.
The International Monetary Fund said it now expects a deeper recession, with global output to shrink 4.9% this year, much sharper than the 3.0% contraction predicted in April.
Asian indices set to track Wall Street fall as second wave of virus derails economic recovery hopes
9. 20 AM: Opening bell
Sensex and Nifty opened lower amid weakness in global counterparts, as increase in surge of virus cases kept sentiments negative worldwide.Extending fall for the second straight day, Sensex fell 190 points lower at 34,734 and Nifty fell 46 points to 10,258.
9.10 AM: Stocks to watch today on June 25
Tata Power, Bharti Infratel, BPCL, Canara Bank, GAIL, Embassy Parks, Reliance Industries among others are the top stocks to watch out for in Thursday's trading session
8. 55 AM: Nifty near term outlook
Geojit Financial in its note said, "The bullish exhaustion discussed yesterday matured as soon as the technical objective of 10570 was approached, and having completed 61.8% fibo retracement of the Jan-Mar fall, leading to a sharp turn lower. The sharp downsides in the closing hour, calls for more follow through selling, but favoured view expects such moves to be arrested in the 10160-9920 region."
8.45 AM: Earnings today
Companies set to announce their earnings are Ashok Leyland, IDFC, CONCOR, HAL, Apollo Hospitals, IOB, Bank of India, ION Exchange, Indiabulls Ventures, Endurance Tech, JB Chemicals, ICRA among others.
8.40 AM: Rupee closing
On the currency front, Rupee ended stronger at 75.72 per dollar as against the previous closing of 75.64 per dollar today
8.35 AM: FII/ DII action
On a net basis, FIIs bought Rs 1,766.9 crore while DIIs sold Rs 1,524.9 crore worth in equities on Wednesday
8.30 AM: Closing
On Wednesday, Sensex closed 561 points lower at 34,868 and Nifty fell 165 points to 10,305.
Sensex falls 561 points, Nifty ends at 10,305; financials lead losses