Business News›Markets›Stocks›Live Blog›Stock Market Live Updates: Sensex jumps 150 pts, Nifty tops 18,600; realty index top sectoral performer, rises over 1%
LIVE BLOG
Economic Times | 12 Jun, 2023 | 11:36AM IST
Stock Market Live Updates: Sensex jumps 150 pts, Nifty tops 18,600; realty index top sectoral performer, rises over 1%
Sensex Today: Indian shares held firm on Monday as investors awaited directions from key central bank meetings in a data-heavy week, starting with the domestic retail inflation reading later in the day.
Twelve of the 13 major sectoral indexes advanced, with information technology (IT) rising 1%. The IT index had lost nearly 2% in the past two sessions. Realty stocks also added over 1%.
The midcap index mirrored its larger peers, rising 0.3%, while the smallcap stocks added 0.6%.
Investors await domestic retail inflation data, due post-market hours on Monday.
India's inflation likely cooled to a 20-month low of 4.42% in May as food price rises slowed further, drawing closer to the Reserve Bank of India's medium-term target of 4%, a Reuters poll of economists found.
Sentiments remain weak after the surprise interest rate hike by the Bank of Canada last week, raising fears that the U.S. Federal Reserve could also remain hawkish at its meeting later this week, Prashanth Tapse, senior vice president for research at Mehta Equities said.
The benchmark Nifty 50 is seeing strong resistance at 18,500 levels, two analysts said.
Global equities advanced on rising odds of a Fed rate pause.
Among individual stocks, shares of Cochin Shipyard added nearly 5% after being declared the lowest bidder for an Indian Navy contract to upgrade a naval ship at an estimated value of 3 billion rupees.
CMS Infosystems rose 4% after funds, including SBI Mutual Fund, IIFL Mutual Fund-IIFL Focused Equity Fund and Abu Dhabi Investment Authority picked up shares at the promoter's 13.75% stake sale.
Twelve of the 13 major sectoral indexes advanced, with information technology (IT) rising 1%. The IT index had lost nearly 2% in the past two sessions. Realty stocks also added over 1%.
The midcap index mirrored its larger peers, rising 0.3%, while the smallcap stocks added 0.6%.
Investors await domestic retail inflation data, due post-market hours on Monday.
India's inflation likely cooled to a 20-month low of 4.42% in May as food price rises slowed further, drawing closer to the Reserve Bank of India's medium-term target of 4%, a Reuters poll of economists found.
Sentiments remain weak after the surprise interest rate hike by the Bank of Canada last week, raising fears that the U.S. Federal Reserve could also remain hawkish at its meeting later this week, Prashanth Tapse, senior vice president for research at Mehta Equities said.
The benchmark Nifty 50 is seeing strong resistance at 18,500 levels, two analysts said.
Global equities advanced on rising odds of a Fed rate pause.
Among individual stocks, shares of Cochin Shipyard added nearly 5% after being declared the lowest bidder for an Indian Navy contract to upgrade a naval ship at an estimated value of 3 billion rupees.
CMS Infosystems rose 4% after funds, including SBI Mutual Fund, IIFL Mutual Fund-IIFL Focused Equity Fund and Abu Dhabi Investment Authority picked up shares at the promoter's 13.75% stake sale.
!1 New UpdateClick here for latest updates
NMDC's current Chairman and MD Shri Amitava Mukherjee, Director (Finance) has been extended for the post of CMD for a period of 3 months.
Price as on 12 Jun, 2023 11:36 AM, Click on company names for their live prices.
Check out the gainers & losers from FMCG pack
Price as on 12 Jun, 2023 11:35 AM, Click on company names for their live prices.
Gangwal Family looking to sell 5-8% stake worth up to Rs 7500 in Interglobe Aviation (Media Sources)
Price as on 12 Jun, 2023 11:05 AM, Click on company names for their live prices.
Bank of Baroda raises one year MCLR to 8.65% from 8.60% effective June 12
Price as on 12 Jun, 2023 10:59 AM, Click on company names for their live prices.
BLOCK DEAL | NTPC's 10 lakh shares change hands
Price as on 12 Jun, 2023 10:26 AM, Click on company names for their live prices.
Realty pack shines. Check top gainers from the pack
Price as on 12 Jun, 2023 10:24 AM, Click on company names for their live prices.
Container Corp disinvestment plan may be delayed indefinitely: Media Reports
Price as on 12 Jun, 2023 09:58 AM, Click on company names for their live prices.
Shares of Jonjua Air Private ralled 10% in Monday's trade after it announced that the company has submitted application for Non Scheduled Operator Permit to Ministry of Civil Aviation. Jonjua Air Private Limited has registered and is eligible for bidding under UDAN 5.1.
Price as on 12 Jun, 2023 09:38 AM, Click on company names for their live prices.
Market View | Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
This week, markets will react to a flurry of important economic data. US inflation data on 13th, FOMC rate decision on 14th, ECB rate decision on 15th and India’s IIP and May CPI data today will give an indication of the likely economic and market direction. Markets are approaching these data points with cautious optimism as reflected in bullish market conditions.
An important feature of the current market trend is the outperformance of the mid and small-cap indices which are up by 17% and 20% in the last 2months. For individual investors, chasing mid and small- caps can turn out to be a risky game. Therefore, the best way for retail investors to play this trend is through SIPs in these categories.
Nifty has the potential to move to record highs. Autos have emerged as the best turnaround story this year. Apart from financials, capital goods, construction and telecom are on strong wicket. New age digital companies, which have staged a smart turnaround, are likely to remain resilient.
An important feature of the current market trend is the outperformance of the mid and small-cap indices which are up by 17% and 20% in the last 2months. For individual investors, chasing mid and small- caps can turn out to be a risky game. Therefore, the best way for retail investors to play this trend is through SIPs in these categories.
Nifty has the potential to move to record highs. Autos have emerged as the best turnaround story this year. Apart from financials, capital goods, construction and telecom are on strong wicket. New age digital companies, which have staged a smart turnaround, are likely to remain resilient.
Finance ministry officials to meet Moody's on June 16
The Indian finance ministry officials will meet credit rating agency Moody's Investors Service on June 16 and pitch for a sovereign rating upgrade, two government sources told Reuters. The meeting will see participation from all government departments managing the economy, said the first source.
FOREX WATCH | Rupee opens almost flat at 82.4400 per U.S. Dollar; previous close at 82.4625
Top movers in morning trade
Price as on 12 Jun, 2023 09:24 AM, Click on company names for their live prices.
BLOCK DEAL | 11% equity block deal in Go Fashion; stock falls 5%
Price as on 12 Jun, 2023 09:20 AM, Click on company names for their live prices.
Opening Bell: Sensex jumps over 100 pts, Nifty tops 18,600; Shipping Corp gains 4%, Divis Labs drops 2%
Pre-open session: Sensex rises 30 points; Nifty above 18,595
Early optimism could be seen in local equities thanks to sharp gains in SGX Nifty after the US markets closed higher on Friday. Sentiments, however, continue to be rattled after a surprise interest rate hike by the Bank of Canada, with investors fearing the Federal Reserve could also remain hawkish in this week's FOMC meeting. On the other hand, domestic investors would be keenly watching the CPI inflation numbers for May and industrial production numbers for April scheduled to be announced later today, which would signify the health of our economy after having witnessed strong numbers last month. Technically speaking, downside risk for Nifty is seen at 18463, while risk appetite remains more intact in Nifty's Bank index which is aiming to scale above its record high at 44499 mark.
- Prashanth Tapse, Senior VP (Research), Mehta Equities
Markets Live Updates: Asia shares near month high ahead of central bank meetings
Asian shares started tentatively on Monday as investors braced for central bank meetings from Europe, Japan and the United States this week, along with U.S. inflation data that will likely influence the Federal Reserve's monetary policy path.MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.17% to 519.96, having touched a more than one-month peak of 521.94 earlier in the session.
Markets Live Updates: SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 76 points, or 0.41 per cent, higher at 18,686, signaling that Dalal Street was headed for positive start on Monday.
Tech View: Nifty forms make-or-break support at 18389
Headline index Nifty formed a red candle on the daily chart as bearish divergences in RSI and MACD ensured that any rise was met with rejections.
Markets Live Updates: Tokyo stocks open higher after US gains
Tokyo stocks opened higher on Monday, extending US gains as investors awaited crucial interest rate decisions from the Federal Reserve and other central banks.The benchmark Nikkei 225 index was up 0.28 percent, or 91.65 points, at 32,356.82 in early trade, while the broader Topix index added 0.33 percent, or 7.30 points, to 2,231.62.
US stocks end a tad higher as Tesla rallies
The S&P 500 closed higher on Friday but off session highs, as a Tesla rally failed to galvanize the broader market on the eve of the Federal Reserve's policy meeting and inflation data next week.
Rupee rises 4 paise against US dollar
The rupee appreciated by 4 paise to close at 82.47 against the US dollar on Friday amid a weak sentiment in domestic equities.
Markets Live Updates: Oil edges lower ahead of Fed meeting
Oil prices edged lower on Monday ahead of a Federal Reserve meeting as investors try to gauge the central bank's appetite for further rate hikes, while concerns about China's fuel demand growth and rising Russian crude supply weighed on the market.Brent crude futures fell 29 cents, or 0.4%, to $74.50 a barrel by 0058 GMT. U.S. West Texas Intermediate (WTI) crude was at $69.93 a barrel, down 24 cents, or 0.3%.
Sensex, Nifty on Friday
The 30-share BSE benchmark Sensex ended 223 points or 0.35% lower to settle at 60,625. The broader NSE Nifty dropped 71 points or 0.38% to end at 18,563.
Good morning, dear reader! Here's something to kickstart your trading day
