Share Market Live: Sensex falls 400 pts, Nifty below 16,500; TechM, Wipro top losers

The Indian market opened lower today. Sensex fell 72 points to 55,696 and Nifty lost 13 points to 16,570 .

Benchmark indices ended lower due to fag-end sell-off on Friday amid positive global cues. Sensex fell 49 points to 55,769 and Nifty ended 43 points lower at 16,584. During the day, Sensex hit a high of 56,432.65 and a low of 55,719.36.

Here's a look at live market updates today.

10:30 am: LIC stock falls

LIC stock declines 1.59 per cent to Rs 787.55 on BSE. Market cap of the share has gone below Rs 5 lakh crore. Market cap at 10: 31 am stood at Rs 4.98 lakh crore.

10:12 am : Sensex losers

Top Sensex losers are Bajaj Finserv, Tech Mahindra, Asian Paint, Wipro, TCS falling up to 3.09 per cent.

9:41 am: Market update

Sensex falls 382 points to 55,386 and Nifty loses 116 points to 16,468 in early trade.

9:30 am: Expert take

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "The market mood has turned a bit cautious with better than expected US jobs data ( 3.90 lakh jobs)  in May. This good economic news is negative from the market perspective since it means the Fed is likely to tighten aggressively without bothering about a possible recession.

For India elevated crude prices and a $23 billion trade deficit in May are areas of concern. Even though FPI selling has come down in early June they are likely to sell more at higher levels. The dollar index above 102 is negative for EM equity. The positive factor for India is the DIIs and retail investors consistently buying the dips."

9:17 am: Sensex fell 72 points to 55,696 and Nifty lost 13 points to 16,570 .

8:30 am: Expert Take

Yesha Shah, Head of Equity Research, Samco Securities said, "In accordance with global benchmark indices, Nifty is expected to give an immediate resistance breakout, indicating continuance of the bullish short-term trend. However, there is no substantial proof that the corrective phase has concluded. Given this, we recommend that traders retain a mildly bullish to cautious perspective going ahead and use a stock-specific buy-on-dips strategy. Nifty's next immediate resistance level is currently set at 17,400."

8:30 am: SGX Nifty

The Indian market is likely to open lower today as SGX Nifty fell 53 points to 16,535. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Friday

Benchmark indices ended lower due to fag-end sell-off on Friday amid positive global cues. Sensex fell 49 points to 55,769 and Nifty ended 43 points lower at 16,584. During the day, Sensex hit a high of 56,432.65 and a low of 55,719.36.

UltraTech Cement, Maruti, NTPC, Bajaj Finserv, IndusInd Bank, Axis Bank and M&M were the top Sensex losers, falling up to 5.49 per cent.

Reliance Industries, Infosys, Larsen & Toubro, HCL Technologies, Sun Pharma, Wipro, TCS and Hindustan Unilever Limited were the top Sensex gainers, rising up to 2.02 per cent.