Home / Markets / Live Blog /  Sensex jumps 237 pts, Nifty ends above 15,350; HUL, HDFC rise, Tata Steel drags

Sensex jumps 237 pts, Nifty ends above 15,350; HUL, HDFC rise, Tata Steel drags

Market Closing: Indian indices on Monday ended around 0.4% higher amid inflation worries.Premium
Market Closing: Indian indices on Monday ended around 0.4% higher amid inflation worries.

  • Market Closing: Indian indices edged higher in choppy trade on Monday, led by gains in IT, FMCG stocks. Inflation concerns and risks of a global recession from central bank efforts to bring it under control weighed.

Indian indices on Monday ended in the green as both the Sensex and Nifty gyrated between gains and losses. The indices started the session on a positive note before paring all the gains dragged down by Tata Steel, Vedanta, Oil India, and other stocks. However, in the noon trade, the indices made smart recovery led by Hindustan Unilever, HDFC, and HDFC Bank. European benchmarks were higher Monday after most Asian markets retreated, while the price of bitcoin hovered near $20,000. U.S. futures advanced and oil prices fell back early Monday. 

20 Jun 2022, 03:44:10 PM IST

Sensex jumps 237 pts, Nifty ends above 15,350; IT, financials, FMCGs rise, metals bleed

Indian indices on Monday closed higher led by market heavyweights HUL, HDFC, and HDFC Bank amid inflation worries across the globe.

The Sensex gained 237.42 points, or 0.46%, to close at 51,597.84, while Nifty50 added 56.65 points to end at 15,350.15. Sectorally, IT, FMCG, financial stocks recorded gains, while metal, realty, power, and oil & gas stocks came under heavy selling pressure.

On the 30-stock index, the most gains were made by HUL, HDFC, and UltraTech, among others, while Tata Steel, IndusInd Bank, and Reliance Industries were among the biggest losers.

On Nifty50, HUL, HDFC, and Britannia made the most gains, while ONGC, Tata Steel, and UPL were among the biggest laggards.

Sensex at close
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Sensex at close
20 Jun 2022, 03:12:32 PM IST

Steel exports to plunge 35-40% after duty revisions: Crisil

India’s steel exports will decline 35-40% on-year to 10-12 million tonne this fiscal following the 15% export duty imposed on several finished steel products last month, a Crisil Research analysis showed on Monday.

20 Jun 2022, 02:25:22 PM IST

Top BSE gainers: ITI, Apar Industries, DCB Bank rise

BSE
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BSE
20 Jun 2022, 01:57:17 PM IST

London copper drops to nine-month low on recession fears

London copper prices hit a nine-month low on Monday, weighed down by fears that a potential global recession and coronavirus outbreaks in top consumer China could hammer demand for metals. Three-month copper on the London Metal Exchange (LME) was down 1% at $8,875 a tonne by 0726 GMT, its lowest since Sept. 21.

20 Jun 2022, 01:51:28 PM IST

London's FTSE 100 rises on boost from energy, financial stocks

London's FTSE 100 rose on Monday, boosted by gains in energy and financial stocks, after the blue-chip index posted its third straight weekly drop on sluggish economic growth worries.

The index and the domestically focused FTSE 250 index were up 0.3% each. BP and Shell gained 0.8% and 1.3%, respectively, as crude prices rose amid tightening global supplies.

London's main share index fell last week on escalating worries about a recession and bets of bigger interest rate hikes after a cautious raise by the Bank of England.

20 Jun 2022, 01:50:33 PM IST

Adani-TotalEnergies deal: Why Big Oil is betting on green hydrogen

TotalEnergies SE has joined billionaire Gautam Adani’s conglomerate in a venture that has the ambition to invest as much as $50 billion over the next 10 years in green hydrogen

20 Jun 2022, 01:38:31 PM IST

  Multibagger stock plunges on record date of bonus shares issue

Shares of Avantel Ltd plunged more than 4% to 273 apiece on the BSE on the record date for its 3:1 bonus shares issue. The stock started trading ex-bonus on Friday, June 17, 2022. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

20 Jun 2022, 01:27:40 PM IST

HUL sees weak demand, but there is some respite on margin front

Hindustan Unilever Ltd (HUL) continues to face the double whammy of subdued demand and elevated commodity costs. But the good news is cost pressures are easing gradually as palm oil prices are falling from recent highs. This commodity and its derivatives are important ingredients in the making of soaps, biscuits and noodles.

20 Jun 2022, 01:14:39 PM IST

After deadly protests Vedanta to sell Tamil Nadu copper plant, shares plunge

Four years after 13 protesters were killed in alleged police firing at its sterlite copper unit in Tamil Nadu, India's metal and mining conglomerate Vedanta has decided to put it on sale. In conjunction with Axis Capital, the company has invited Expressions of Interest (EoI) for its Thoothukudi-based smelter. Interested buyers have time till July 4, 6pm to submit their bids, company stated.

20 Jun 2022, 01:09:49 PM IST

Shares of Indian Hume Pipe rise after firm gets ₹110-crore order in Rajasthan

Shares of Indian Hume Pipe Co Ltd on Monday rose after the firm on Saturday said it has bagged a 110-crore pipe order in Rajasthan. In a statement, the company said it has secured the work order from the Public Health Engineering Department (PHED), Ajmer.

20 Jun 2022, 01:00:05 PM IST

Growth fears weigh on stocks, spark iron ore slide

Stocks in Europe wavered and iron ore tumbled as concerns about a wave of monetary tightening and slowing demand in China gripped global markets.

The Stoxx Europe 600 index fluctuated after the biggest five-day plunge in 15 weeks, with basic resources and construction stocks underperforming. France’s equity benchmark lagged and the country’s bonds fell after President Emmanuel Macron failed to garner an absolute majority in parliament, putting his reform agenda in peril.

S&P 500 and Nasdaq 100 futures made modest gains. A dollar gauge edged lower. Economic pessimism hit commodities: crude oil held a near-7% Friday plunge and iron ore wiped out all this year’s gains. Treasury futures were mixed -- there’s no cash trading due to a US holiday.

Bitcoin gyrated around closely-watched $20,000 mark. A volatile crypto slump has become emblematic of the pressure on a range of assets from sharp Federal Reserve interest-rate hikes to tame high inflation.

20 Jun 2022, 12:56:34 PM IST

Metal stocks worst hit, plunge over 5.5%; Vedanta, National Aluminium, Hindalco bleed

BSE
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BSE
20 Jun 2022, 12:53:14 PM IST

Airline industry return to profit; Air India order: IATA update

After two years of unprecedented pain brought on by Covid, the airline industry should return to profitable times next year as pent-up demand for travel sustains bookings.

That’s the prediction of the International Air Transport Association, which Monday at its 78th annual general meeting in Doha said airlines have emerged “leaner, tougher and nimble," having defied predictions for widespread bankruptcies and failures, according to Director General Willie Walsh.

“Industry-wide profit should be on the horizon in 2023," Walsh told the gathering of airline chiefs. “We are rebounding. By next year, most markets should see traffic reach or exceed pre-pandemic levels."

Air India Ltd. meanwhile is said to be considering a huge plane order as it overhauls its fleet under new ownership.

20 Jun 2022, 12:43:00 PM IST

Vodafone Idea to consider raising funds worth ₹500 cr, Board to meet on Wednesday

Telecom operator Vodafone Idea's Board of Directors will meet on Wednesday to consider a proposal for raising funds aggregating up to 500 crore, by way of issuance of equity shares or convertible warrants on a preferential basis to one or more entities belonging to Vodafone Group, it said in a regulatory filing to the stock exchanges.

Vodafone Group is one of the promoters of the telecom operator.

20 Jun 2022, 12:37:05 PM IST

Tokyo shares close lower on oil, crypto falls

Tokyo shares closed lower on Monday after a cautious trading session following falls in the prices of crude oil and cryptocurrency.

The benchmark Nikkei 225 index lost 0.74 percent, or 191.78 points, to end at 25,771.22, while the broader Topix index fell 0.92 percent, or 16.96 points, to end at 1,818.94.

"Shares opened higher following gains of the tech-rich US Nasdaq index on Friday," Online Okasan Securities said, "but the collapse in oil and Bitcoin prices made investors wary."

The Tokyo market was also weighed down by fears that interest rate hikes by central banks could trigger a global recession, analysts said.

20 Jun 2022, 12:04:08 PM IST

Sensex edges higher, rises over 150 points 

Sensex at 12pm
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Sensex at 12pm
20 Jun 2022, 11:54:43 AM IST

HDFC twins, Infosys, HUL drive Sensex higher 

Sensex contributors
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Sensex contributors
20 Jun 2022, 11:42:09 AM IST

Alkem Laboratories receives Form 483 with 3 observations from US FDA

The US Food and Drug Administration (FDA) had conducted an inspection of the company's manufacturing facility located at St. Louis, US, during 6-17 June. At the end of the inspection, the company received Form 483 with three observations. 

The company shall submit to US FDA within the stipulated timeline, a detailed response to close out all the observations associated with this inspection. 

20 Jun 2022, 11:35:45 AM IST

Kotak plans to enter venture capital, debt, buyout space

Kotak Investment Advisors Ltd (KIAL), the alternate assets arm of Kotak Mahindra Group, plans to expand into venture capital, venture debt and buyouts, a senior executive said. (Read here)

20 Jun 2022, 11:27:25 AM IST

Oil prices inch lower as global economic worries outweigh tightening supply

Oil prices edged lower on Monday, reversing earlier gains, as concerns about slowing global economic growth and fuel demand outweighed worries about tightening supplies.

Brent crude futures slipped 3 cents to $113.09 a barrel, after rising as much as 1% earlier. Front-month prices tumbled 7.3% last week, their first weekly fall in five.

U.S. West Texas Intermediate crude was at $109.42 a barrel, down 14 cents, or 0.1%, after rising more than $1 earlier. Front-month prices dropped 9.2% last week, the first decline in eight weeks.

20 Jun 2022, 10:57:02 AM IST

Vodafone Idea board to meet Wednesday to consider raising funds worth ₹500 crore: BSE filing 

20 Jun 2022, 10:55:52 AM IST

India adds 12,781 fresh covid cases in 24 hours, positivity rate over 4% after 130 days

20 Jun 2022, 10:50:28 AM IST

US recession this year is now more likely than not, says Nomura: Bloomberg 

The US economy will likely fall into a mild recession by the end of 2022 as the Federal Reserve raises rates to tame prices, according to economists at Nomura Holdings Inc.

Nomura warns that financial conditions will tighten further, consumers sentiment is souring, energy and food supply distortions have worsened and the global growth outlook has deteriorated.

“With rapidly slowing growth momentum and a Fed committed to restoring price stability, we believe a mild recession starting in the fourth quarter of 2022 is now more likely than not," Nomura economists Aichi Amemiya and Robert Dent wrote in a note Monday.

Nomura has lowered its real GDP forecast for this year to 1.8%, compared to 2.5% earlier, while the projection for next year is seen declining 1%, from 1.3% growth earlier.

20 Jun 2022, 10:11:16 AM IST

India's Russian coal buying spikes as traders offer steep discounts: Reuters 

India's purchases of Russian coal have surged in recent weeks despite global sanctions on Moscow, as traders offer discounts of up to 30%, according to two trade sources and data reviewed by Reuters.

Russia, facing severe Western sanctions over its invasion of Ukraine, warned the European Union in April against sweeping sanctions on coal, saying they would backfire as the fuel would be redirected to other markets.

India has refrained from condemning Russia, with which it has longstanding political and security ties, while calling for an end to violence in Ukraine. New Delhi defends its purchases of Russian goods as part of an effort to diversify supplies and argues a sudden halt would jack up world prices and hurt its consumers.

20 Jun 2022, 10:08:09 AM IST

Rupee rises 12 paise to 77.93 against US dollar in early trade

The rupee strengthened 12 paise to 77.93 against the US dollar in opening trade on Monday as easing crude oil prices supported the local unit.

However, unabated foreign fund outflows, a lacklustre trend in domestic equities and a strong dollar overseas capped gains, forex dealers said.

At the interbank foreign exchange, the rupee opened strong at 77.98 against the US dollar, then inched higher to quote 77.93, registering a rise of 12 paise over the last close.

In the previous session, the rupee advanced 5 paise to settle at 78.05 against the US dollar.

20 Jun 2022, 10:03:12 AM IST

Top gainers/losers on Nifty at this hour 

Nifty stocks
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Nifty stocks
20 Jun 2022, 09:51:27 AM IST

Derivatives view: ICICI Securities 

Nifty

The Nifty declined for the sixth consecutive session on Friday and ended last week with a loss of around 5.5%. According to options data, aggressive Call writing was seen across multiple strikes, especially 15500 Call strike that holds substantial OI, which should act as resistance. Hence, any rise around 15500 levels should be used to create short positions.

Bank Nifty

On Friday, the Bank Nifty relatively outperformed the Nifty and closed with a gain of 0.38%. The Bank Nifty 32500 Put strike holds sizeable OI, which should act as immediate support for the day while on the higher side 33000 Call strike should act as an immediate resistance and limit upsides.

20 Jun 2022, 09:41:00 AM IST

Top gainers/losers on Sensex at this hour 

Sensex stocks
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Sensex stocks
20 Jun 2022, 09:32:49 AM IST

Metal, realty, bank indices under pressure 

Nifty sectoral indices.
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Nifty sectoral indices.
20 Jun 2022, 09:19:23 AM IST

Nifty opens above 15,300

Nifty50
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Nifty50
20 Jun 2022, 09:18:03 AM IST

Sensex opens higher, rise more than 150 points at open 

Sensex opens higher 
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Sensex opens higher 
20 Jun 2022, 09:09:10 AM IST

Sensex flat in pre-open

Sensex check
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Sensex check
20 Jun 2022, 09:08:11 AM IST

Nifty flat in pre-open 

Nifty50
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Nifty50
20 Jun 2022, 08:59:39 AM IST

Vedanta invites EoI for its Tuticorin copper smelter 

Vedanta has invited Expressions of Interest (EoI) for its Tuticorin-based smelter, Sterlite Copper, which has been shut since mid-2018, following a Tamil Nadu government order. The last day to submit EoIs is 4 July.

Plant units, including oxygen generation facility as well as residential homes, are also part of the sale offer. The plant has faced closures over alleged violation of environmental norms.

Sterlite Copper accounted for 40% of India's copper output, before it was forced to close.

20 Jun 2022, 08:54:28 AM IST

Nifty view: Chief Analyst-Technical and Derivatives, Angel One

The Nifty is exactly placed at the previous breakout point of May 2021 which is around 15400 – 15300. In addition, the ‘RSI-Smoothened’ oscillator on the daily chart is showing a ‘Positive Divergence’ i.e. lower lows in recent prices and higher lows in the oscillator. This condition generally happens at the fag end of any downtrend. Hence, looking at the charts, we are clearly in two minds at this juncture. In our sense, although we did not manage to catch the recent down move, it’s better not to get carried away in the challenging times. As far as supports are concerned, 15200 – 15000 are to be seen as immediate support and breach of the same, would certainly create some panic kind of situation in our markets.

Markets would regain strength only after surpassing the key levels of 15700 – 15800 on a closing basis. Till then it's not advisable to carry aggressive longs overnight. Traders are advised to take one step at a time in the forthcoming week and should ideally look to lighten up positions during the day only. Since we are mirroring the global trends, markets can surprise us anytime in either direction. There is a famous saying in the market that one should avoid catching a falling knife (market). This holds true for momentum traders but with a slightly broader perspective, we are of the strong belief that no one should certainly start accumulating quality propositions in a staggered manner.

20 Jun 2022, 08:40:50 AM IST

A major revamp awaits at Banks Board Bureau

The finance ministry is working to expand and relaunch the Banks Board Bureau (BBB) by bringing in more representatives from the insurance sector, two people aware of the matter said. The move aims to legally empower the body to recommend candidates for public sector insurers, and accelerate top-level hiring at all state-run financial institutions.  (Read here)

20 Jun 2022, 08:23:41 AM IST

Stocks to Watch 

Shares of ICICI Bank, Axis Bank, Coal India, Cipla, Dilip Buildcon, among others, will be in focus on Monday.

20 Jun 2022, 08:22:29 AM IST

Air India prepares one of the largest aircraft deals in history: Bloomberg 

Air India Ltd. is considering ordering as many as 300 narrowbody jets, according to people familiar with the matter, in what could be one of the largest orders in commercial aviation history as the formerly state-run airline looks to overhaul its fleet under new ownership.

The carrier may order Airbus SE’s A320neo family jets or Boeing Co.’s 737 Max models, or a mix of both, the people said, asking not to be identified because the discussions are confidential. A deal for 300 737 Max-10 jets could be worth $40.5 billion at sticker prices, although discounts are common in such large purchases.

Winning a narrowbody order in India would be a coup for Boeing, as rival Airbus dominates the skies in the country, the world’s fastest-growing aviation market before the Covid pandemic. IndiGo, operated by InterGlobe Aviation Ltd., is the world’s largest customer for the European manufacturer’s best-selling narrowbodies, ordering more than 700, and others including Vistara, Go Airlines India Ltd. and AirAsia India Ltd. fly planes from the same family.

20 Jun 2022, 08:10:13 AM IST

SGX Nifty ticks lower 

Nifty futures on the Singapore Exchange fell 70.50 points, or 0.46%, to 15,245 in early deals on Monday, hinting at a weak start for Indian incomes.

On Friday, the BSE Sensex fell 135 points to 51,360, while the Nifty50 declined 67 points to 15,293.

20 Jun 2022, 07:53:00 AM IST

Asia starts on weak note; monetary tightening weighs

Asian stocks fell Monday and US equity futures erased a climb as tightening monetary policy kept sentiment in check.

MSCI Inc.’s gauge of Asia-Pacific shares hit the lowest since June 2020 amid drops in Japan and Hong Kong and mixed performance in China, where banks kept their main lending rates unchanged.

S&P 500 contracts turned lower, while those for the Nadsaq 100 reversed a gain of more than 1%.

Markets are set to remain on edge amid elevated price pressures and concern that monetary tightening in a range of nations portends more losses.

In the latest Fed commentary, Governor Christopher Waller said he would support another 75-basis-point rate increase at the central bank’s July meeting should economic data come in as he expects.

S&P 500 futures fell 0.1%, while Nasdaq 100 futures rose 0.1%. Euro Stoxx 50 futures fell 0.4%

Japan’s Topix index fell 1.1%, Australia’s S&P/ASX 200 was down 0.6%, South Korea’s Kospi fell 2.3%, Hang Seng Index fell 0.4%, and Shanghai Composite was little changed.

On Friday, Wall Street stocks ended a rocky week mostly higher but lower for the week amid worsening fears of recession as the US central bank takes aggressive action against inflation.

The broad-based S&P 500, which entered a bear market week, added 0.2% to finish at 3,674.84, while the tech-rich Nasdaq Composite Index gained 1.4% to 10,798.35. The Dow Jones Industrial Average slipped 0.% to 29,888.78, after closing below 30,000 on Thursday for the first time since January 2021.

The S&P lost 5.8% in the week, its worst performance since 2020, while the Dow and Nasdaq dropped 4.8%.

Wall Street stocks have been battered amid moves to raise interest rates to combat blistering inflation.

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