Active Stocks
Fri May 24 2024 15:59:27
  1. Tata Steel share price
  2. 174.80 -0.37%
  1. NTPC share price
  2. 374.85 0.68%
  1. State Bank Of India share price
  2. 828.60 -0.45%
  1. ITC share price
  2. 436.10 -1.16%
  1. Power Grid Corporation Of India share price
  2. 318.50 -0.39%
Business News/ Markets / Live Blog/  Sensex tanks 568 pts, Nifty ends below 16,450; Titan, DRL drag, NTPC shines

Sensex tanks 568 pts, Nifty ends below 16,450; Titan, DRL drag, NTPC shines

Market Closing: Indian indices on Tuesday extended losses for another session ahead of RBI's key rate decision, dragged by heavy selling pressure in realty, FMCG, consumer durables, and IT stocks.

Market Closing: Indian indices on Tuesday declined sharply amid weak Asian trends. (Hemant Mishra/Mint)Premium
Market Closing: Indian indices on Tuesday declined sharply amid weak Asian trends. (Hemant Mishra/Mint)

Indian indices on Tuesday ended in the red as both the Sensex and Nifty dropped around 1% each amid weak global sentiments. Indian investors turned cautious, expecting RBI to hike interest rate to curb inflation, while global investors are keeping an eye on US inflation data and key rate decision in Europe. Globally, stock markets were mixed on Tuesday after a bond sell-off on Wall Street fuelled anxiety about a possible US economic slowdown, while oil prices were stable on China easing Covid curbs. Shares rose marginally in Japan and Shanghai, while it fell in Hong Kong, South Korea, and Australia.

07 Jun 2022, 07:33:45 AM IST

Asia stocks mixed amid treasury slide; Yen sinks

Stocks in Asia traded mixed Tuesday as a jump in Treasury yields fueled concerns that rising borrowing costs will weigh on earnings and induce a recession. The yen sank to a 20-year low.

Equities in Japan rose as the currency’s plunge on a widening interest-rate gap with the US provided a tailwind for exporters. Australian stocks dipped before a central bank meeting expected to deliver back-to-back rate increases for the first time in 12 years. Technology stocks in Hong Kong advanced on speculation the government may ease a crackdown on the sector. China fluctuated and US futures dropped.

Treasuries added to losses that sent five- and 10-year yields over 3% for the first time since mid-May ahead of a slew of new debt supply before crucial inflation data at the end of the week. The 10-year Treasury yield inched up after jumping more than 10 basis points as yields across the curve advanced at least seven basis points Monday.

The dollar gained as investors shunned risk assets. Bitcoin fell back below the $30,000 mark and the pound trimmed an advance spurred by UK Prime Minister Boris Johnson surviving a leadership vote.

07 Jun 2022, 07:30:05 AM IST

Wall St ends up with growth stocks, but inflation fears linger

U.S. stocks ended a choppy session slightly higher on Monday, helped by gains in and other mega-cap growth shares, while persistent worries over inflation and interest rates kept a lid on the market.

Shares of Inc rose 2% and were the biggest positive for the S&P 500 and Nasdaq after the online retailer split its shares 20 for 1.

Apple Inc shares climbed 0.5%. The tech giant at its annual software developer conference announced among other things that it would more deeply integrate its software into the core driving systems of cars.

Helping sentiment were easing regulatory crackdowns in China and signs in parts of China of a return to more normal activity after the country's biggest COVID-19 outbreak in two years.

The Dow Jones Industrial Average rose 16.08 points, or 0.05%, to 32,915.78, the S&P 500 gained 12.89 points, or 0.31%, to 4,121.43 and the Nasdaq Composite added 48.64 points, or 0.4%, to 12,061.37.

Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started