Share Market update: Sensex falls 86 pts, Nifty below 16,250; Airtel, TCS top losers

The Indian market ended lower today. Sensex fell 86 points to 54,395 and Nifty lost 4 points to 16,216. Indian market gained for the third consecutive session on Friday amid mixed global cues. Sensex gained 303.38 points to end at 54,481.84. During the day, it jumped 448.68 points to 54,627.14. Nifty rose 87.70 points to close at 16,220.60.

Stocks in news: Tata Motors, TCS, Avenue Supermarts, Dr Reddy's Labs and more

Here's a look at live market updates today.

3:30 pm:  Sensex falls 86 points to 54,395 and Nifty closes 4 points lower at 16,216.

3:20 pm: Paytm shares gain 3% on strong Q1 operating performance

Shares of Paytm (listed as One97 Communications) gained 3 per cent on Monday after the Vijay Shekhar Sharma-led firm reported a 492 per cent rise in number of loans disbursed through its platform in Q1 on a year-on-year (y-o-y basis). The number of loans rose to 8.5 million in the quarter ended June 2022, while the value of loans disbursed grew 779 per cent y-o-y to Rs 5,554 cr ($703 million).

Paytm stock rose 2.84 per cent to Rs 718.95 today against the previous close of Rs 699.10 on BSE. Shares of the digital payments firm are trading higher than the 5-day, 20-day, 50-day and 100-day moving averages but lower than 200-day moving averages. Read more

1:51 pm : SBI Card partners with Aditya Birla Finance for 'Aditya Birla SBI Card'

SBI Card, India's largest pure-play credit card issuer, has announced the launch of 'Aditya Birla SBI Card', a highly rewarding lifestyle credit card, in a strategic partnership with Aditya Birla Finance Ltd (ABFL), the lending subsidiary of Aditya Birla Capital Ltd. The card has been designed to give customers significant reward points on their spending around telecom, fashion, travel, dining, entertainment, and hotels, among others. This makes 'Aditya Birla SBI Card' one of the most compelling cards for customers across segments, offering exciting benefits on both premium and mass brands that belong to the Aditya Birla Group.

12:30 pm: Rupee hits record low of Rs 79.38 versus strong US dollar

The rupee weakened to a fresh record low against the US dollar on Monday amid weakness in the domestic share market and as concerns about global economic growth continued to support the safe-haven greenback.

The partially convertible rupee was trading at 79.38/39 per dollar by 0436 GMT, compared to its close of 79.25 on Friday. The unit had hit its previous life-low of 79.3750 last week.

11:41 am: Market update

Sensex falls 289 points to 54,192 and Nifty loses 84 points to 16,135.

11:38 am: Expert take

Arijit Malakar, Head of Research - Retail, Ashika Group

"Some green shoots have been seen in economy as the inflation is showing some kind of moderation. Crude oil prices and other commodity prices have started to moderate which is a positive developments for corporate India. Since June, there has been sharp cool off in commodity prices and that has improved the sentiment for commodity intensive sectors like FMCG, Cement, Paint, Autos, Chemicals and Real Estate. Hence, the expectation is that inflation might has peaked and may be the inflation headwind is behind us. The fear of significant margin sink in coming quarters could not be the case for corporate India. As the inflation has started to moderate, RBI might not be aggressive in hiking interest rates going forward. These factors are expected to drive the corporate earnings in 2nd half of FY23. Companies with strong fundamentals, good business moat and strong industry tailwinds will perform better."

10:58 am: Bharti Airtel stock tumbles 5%

Bharti Airtel stock was the top Sensex loser today after the Adani Group confirmed its entry into the race to acquire telecom spectrum. The spectrum will be used to create a private network to support its businesses from airports to power as well as data centres.

Shares of the country's leading telecom players were under pressure in early trade with Bharti Airtel leading the losses.

Bharti Airtel stock fell up to 4.89 per cent to Rs 661.25 against the previous close of Rs 695.25 on BSE. Stock of Reliance Industries, the parent company of Reliance Jio, was trading 0.52 per cent lower at Rs 2,379 in early trade.

10:15 am: TCS shares fall 4% as Q1 earnings miss estimates

Shares of Tata Consultancy Services (TCS) slipped over 4 per cent in early trade today after the firm performed below expectations on both revenue and margins in its June quarter earnings. Financial services firm Motilal Oswal said earnings before interest and taxes (EBIT) margins came at a multi-year low for the Mumbai based firm. The IT stock was down 4.54 per cent at Rs 3,116.40 in early trade against the previous close of Rs 3,264.85 on BSE. Market cap of the firm fell to Rs 11.45 lakh crore on BSE.

9:29 am: Smallcap and midcap stocks in 2022

The BSE smallcap index has tumbled 3,816.95 points or 12.95 per cent this year so far. Midcap gauge fell by 2,314.51 points or 9.26 per cent

 9:16 am: Market opens in red

Sensex falls 269 points to 54,212 and Nifty loses 86 points to 16,134 in early trade today.

8:34 am: Expert take

Nagaraj Shetti, Technical Research Analyst, HDFC Securities

"Nifty sustained above the important resistance of previous opening down gap of June 13 at 16,170 levels and closed higher. Previously, none of opening downside gaps have been taken out decisively on the upside in last couple of months. If Nifty manages to stay above 16,200 levels and moves up in the next 1-2 sessions, then that could mean an important trend reversal on the upside for Nifty as per smaller and larger timeframe chart. The short-term trend of Nifty continues to be positive. Having sustained above the crucial hurdle at 16,170 levels, there is a possibility of Nifty moving towards the next upside resistance of 16,500 levels by next week. Immediate support is placed around  Rs 16,150-16,100 levels."

8:20 am: SGX Nifty

The Indian market is likely to open lower today as SGX Nifty fell 113 points to 16,114. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Friday

Indian market gained for the third consecutive session on Friday amid mixed global cues. Sensex gained 303.38 points to end at 54,481.84. During the day, it jumped 448.68 points to 54,627.14. Nifty rose 87.70 points to close at 16,220.60.

BSE midcap and smallcap indices rose 44 points and 72 points, respectively. Capital goods shares were the top sectoral gainers with their BSE index rising 601 points, respectively. BSE metal index was the top loser, falling 155 points to 15,950.