Share Market News Today Updates, 23 September 2022: Trends on SGX Nifty indicated a lower opening for the domestic markets. Indian equity benchmarks are likely to open lower on Friday, in line with the weaker trend in global markets after the US Federal Reserve interest rate hike and renewed economic growth worries amid an escalation in Russia-Ukraine conflict.
Asian stocks limped toward a fourth straight weekly decline today and bonds nursed huge losses, while currency markets were on edge at the end of a wild week.
Overnight, Wall Street indexes fell and longer-dated U.S. Treasuries (10-year) were dumped. S&P 500 futures edged 0.09 per cent lower, Nasdaq futures fell 0.16 per cent and Dow futures shed 0.01 per cent, indicating a cautious start for the Wall Street.
The Fed increased rates by 75 basis points (bps) – the third such rise in a row – and signalled that it would continue to raise borrowing costs to fight inflation. Interest rates may hit 4.4 per cent this year - higher than markets had priced in before the Fed meeting.
In the biggest escalation of the Ukraine war since Moscow's February 24 invasion, Russia explicitly raised the spectre of a nuclear conflict, approved a plan to annex a chunk of Ukraine.
Here are the share market Live Updates:
Sensex falls 115 points or 0.19 per cent to trade at 59,005, Nifty moves 36 points or 0.20 per cent to trade at 17,594
"The global risk-off is gaining strength aided by the steadily rising dollar. Dollar is rising against all currencies and this will impact capital flows into emerging markets including India. Resumption of FPI buying since July has been supporting the rally in India. Now this is under threat with FPIs turning sellers in 5 out of the last 7 days. FPIs are unlikely to buy consistently when the US 10-year bond yield is above 3.7 per cent and the dollar index is above 111. The near-term market outlook is bearish. Investors may wait and watch before committing more money. There is a trend of selective bottom up stock picking in the broader market. This trend is likely to continue even when the headline indexes turn negative," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Oil prices declined in early trade today. Brent crude futures fell 39 cents, or 0.43 per cent, to $90.07 per barrel, while US West Texas Intermediate (WTI) crude slipped 31 cents or 0.37 per cent to $83.18 per barrel.
Mahindra and Mahindra Financial Services: The Reserve Bank of India (RBI) has directed Mahindra Finance to stop using third-party services for loan recovery until further orders. (Read more)
Hero MotoCorp: The two-wheeler market has hiked price of its motorcycles and scooters from September 22.
Indian Oil Corp: IOC plans Panipat refinery maintenance, to revamp naphtha cracker.
Tata Steel: The steelmaker has approved the amalgamation of Tata Steel Long Products, Tinplate Co, Tata Metaliks, TRF, Indian Steel & Wire Products, Tata Steel Mining with the company.
Cipla: The pharma company has received an establishment inspection report from US health regulators to inspect its Indore plant.
Muthoot Capital Services: The company said it would consider fund raising by issue of non-convertible debentures.
The Indian rupee is tipped to extend its decline to a new record low today, on the back of Treasury yields (2-year) climbing to fresh multi-year highs and dollar demand from importers. The rupee is expected to open at around 81 per U.S. dollar, down from 80.86 in the previous session.
Ambuja Cements, Can Fin Home, Delta Corp, PNB and RBL Bank are in F&O (Futures and Options) ban period today. The derivative contracts in the mentioned security has crossed 95 per cent of the market-wide position limit.
Foreign institutional investors (FIIs) have sold Rs 2,509.55 crore worth of shares, while domestic institutional investors (DIIs) have purchased Rs 263.07 crore worth of shares on September 22, provisional NSE data showed.
Trends on SGX Nifty indicated a lower opening for the domestic markets. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 100 points or 0.57 per cent to 17,540.
Major 'Call' open interests were seen at 18,000, 17,800 and 17,700 strikes with total open interest of 1,79,278, 1,03,854 and 1,03,069 contracts respectively. Top 'Call' open interest additions were seen at 17,650 and 17,700 strikes which added 91,753 and 46,560 contracts, respectively. 'Call' unwinding was seen at 18,100 strike, which shed 70,855 contracts, NSE data, as on September 22 (3:30 pm), showed.
Major 'Put' open interests were seen at 17,600, 17,500 and 17,000 strikes with total open interest of 1,68,999, 1,04,465 and 86,474 contracts respectively. Top 'Put' open interest additions were seen at 17,600 and 16,650 strikes which added 1,04,240 and 32,563 contracts, respectively. 'Put' unwinding was seen at 17,700 strike, which shed 36,509 contracts.
Major 'Call' open interests were seen at 41,000, 42,000 and 40,700 strikes with total open interest of 1,00,825, 1,00,630 and 91,895 contracts respectively. Major 'Call' open interest additions were seen at 40,700 and 40,600 strikes which added 88,160 and 77,305 contracts, respectively. 'Call' unwinding was seen at 43,000 strike, which shed 42,029 contracts.
Major 'Put' open interests were seen at 40,600, 40,500 and 39,500 strikes with total open interest of 1,42,910, 1,13,304 and 80,010 contracts, respectively. Major 'Put' open interest additions were seen at 40,600 and 40,500 strikes which added 1,22,150 and 49,415 contracts. 'Put' unwinding was seen at 41,000 strike, which shed 54,971 contracts.
The benchmark BSE Sensex had plunged 337 points or 0.57 per cent to close at 59,120, while the broader NSE Nifty had moved 89 points or 0.50 per cent down to settle at 17,630.
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