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Business News/ Markets / Live Blog/  Sensex ends flat, Nifty below 15,800; Axis Bank, SBI up, TechM, Bajaj twins drag

Sensex ends flat, Nifty below 15,800; Axis Bank, SBI up, TechM, Bajaj twins drag

Market Closing: Indian indices on Thursday ended marginally in the red amid high volatility. The Indian rupee rose 5 paise to close at 78.98 (provisional) against US dollar.

Market Closing: Indian indices on Thursday remained choppy for most part of the session after giving up early gains to close flat. (MINT)Premium
Market Closing: Indian indices on Thursday remained choppy for most part of the session after giving up early gains to close flat. (MINT)

Indian indices on Thursday slipped into the red zone after tracking weak global trends as inflation and recession fears kept investors on the edge. With today's loss, the indices recorded their worst quarter since the pandemic began. The investors fear the central bank could take some aggressive steps to curb inflation which could further hurt the economy. Globally, stock markets declined on Thursday after the US economy contracted, fuelling fears of a worldwide downturn. Shares fell in Japan, Australia, Hong Kong, and South Korea, while it rose in Shanghai.

30 Jun 2022, 03:51:01 PM IST

Sensex ends choppy trade flat, Nifty ends below 15,800; Auto, realty, metals crack

Indian indices on Thursday slipped marginally into the red, tracking weakness in global indices.

The Sensex slipped 8.03 points, or 0.02%, to close at 53,018.94, while Nifty50 declined 18.85 points to end at 15,780.25. Sectorally, auto, realty and metals performed badly, while banks defied the trend to end in the green.

On the 30-stock index, Axis Bank, SBI, and Kotak Bank were the top performers, while TechM, Tata Steel, and Bajaj twins were among the biggest losers.

On the Nifty50 index, Axis Bank, SBI, Divi's Lab registered the biggest gains, while Eicher Motors, Cipla, and BPCL were the biggest laggards.

Sensex at close
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Sensex at close
30 Jun 2022, 03:13:25 PM IST

Global stocks, Wall Street down after US economy shrinks

Global stock markets declined Thursday after the U.S. economy contracted, fueling fears of a worldwide downturn.

London and Frankfurt opened lower. Tokyo and Hong Kong declined while Shanghai gained.

The future for Wall Street’s benchmark S&P 500 index was down 1.1% after data Wednesday showed the U.S. economy shrank in the first quarter amid high inflation and weakening consumer confidence.

Investors are uneasy about signs the biggest global economy might be in a recession due to interest rate hikes imposed to cool surging inflation.

30 Jun 2022, 03:11:39 PM IST

Oil steady as fuel stocks counter supply concerns

Oil prices were largely steady in volatile trading on Thursday as the market weighed concerns over global supply against a build in U.S. fuel product inventories.

Brent crude futures for September, the more actively traded contract, were up 28 cents, or 0.3%, at $112.73 a barrel by 0911 GMT. The August contract, which expires on Thursday, was down 11 cents, or 0.1%, at $116.15.

U.S. West Texas Intermediate (WTI) crude futures rose 20 cents, or 0.2%, to $109.98.

Crude inventories fell by 2.8 million barrels in the week to June 24, U.S. Energy Information Administration data showed, far exceeding the 569,000 barrel drop forecast in a Reuters poll of analysts.

30 Jun 2022, 03:10:53 PM IST

Gold heads for worst quarter in five as dollar dominates

Gold was mostly quiet on Thursday, but faced its worst quarter since early 2021 as a remarkable showing from the dollar kept investors away, with bullion's outlook clouded by top central banks adopting aggressive tactics to fight stubborn inflation.

Spot gold was down 0.1% at $1,814.96 per ounce, as of 0754 GMT. U.S. gold futures dipped 0.1% to $1,815.50.

Gold prices, set to drop for a third straight month, have fallen about 6.4% this quarter.

30 Jun 2022, 02:35:25 PM IST

Arijit Malakar of Ashika Group large cap stocks in the bear market

The fear of recession in the US amid the aggressive rate hike by Federal reserve to tame the inflation keep the equity market on edge. If there is recession in the US as per the expectation then it could be felt in India as well. In stagflation where the demand is low and inflation is high, the small companies find it difficult to sustain its business momentum as they have less pricing power compared to large scale companies. Large cap companies are well placed to weather such economic downturn with their healthy balance sheet, strong brand proposition and better pricing power. Hence, in a turbulent market it is better to stay invested in large cap companies having strong fundamentals, good business moat and strong industry tailwind.

30 Jun 2022, 02:23:55 PM IST

Indian telcos' 5G bids seen muted as private firms jostle for airwaves: Report

India's telecom giants are likely to make muted bids at the 5G spectrum auction in July, on worries they stand to lose about 40% in potential revenues due to the allotment of some airwaves to enterprises for private networks, industry sources said.

Top player Reliance Industries' Jio and rivals Bharti Airtel and Vodafone Idea have failed to lobby New Delhi to stop the allocation that will let various enterprises, including and Tata Consultancy Services, to get airwaves without auction.

"The telecom companies are quite upset, there will be an estimated 40% potential 5G revenue loss," said S.P. Kochhar, director general of Cellular Operators Association of India, which represents the three telcos.

30 Jun 2022, 02:21:03 PM IST

MSMEs one-third of India's economy, says PM Modi

Prime Minister Narendra Modi on Thursday said India's micro, small and medium enterprises are a huge pillar of growth journey, as they together account for almost one-third of the country's economy.

"When we say MSME, it expands in technical language to Micro Small and Medium Enterprises. But these micro, small and medium enterprises are a huge pillar of India's growth journey. MSME sector accounts for almost one-third of India's economy," PM Modi said.

The Prime Minister made the remarks while inaugurating the 6,062.45-crore 'Raising and Accelerating MSME Performance' (RAMP) scheme for MSMEs at the 'Udyami Bharat' programme held at Vigyan Bhawan in the national capital.

The said scheme aims to scale up the implementation capacity and coverage of MSMEs in the states, with impact enhancement of existing schemes. The scheme has outlay of around 6,000 crore.

30 Jun 2022, 02:10:07 PM IST

Markets mostly down on recession fear, China data lends some light

Most markets fell again Thursday as traders fear that hefty rate hikes to rein in soaring inflation will spark a recession, though a slight improvement in Chinese data provided a little cheer.

The rally enjoyed across the world last week appears to have given way to nervousness about the economic outlook, while the Ukraine war continues to sow uncertainty.

The surge in inflation to multi-decade highs has forced central banks to swiftly tighten pandemic-era monetary policies, dealing a hefty blow to equities, particularly tech firms who are susceptible to higher borrowing costs.

The Federal Reserve has already sharply lifted rates and is expected to announce a second successive 75-basis-point lift next month.

30 Jun 2022, 02:08:39 PM IST

OPEC+ may not be much help with high oil, gasoline prices

allied producing nations may not be much help as they decide Thursday how much more crude to send to world markets.

That's because the 23-member OPEC+ alliance, which includes Russia, is struggling to produce enough oil to keep up with the rebounding demand for fuel since the COVID-19 pandemic. Plus, Western buyers are shunning barrels from Russia over its war in Ukraine, meaning there’s less oil on the market to go around.

OPEC, led by Saudi Arabia, and its allies will decide whether to boost production in August beyond the increase of 648,000 barrels per day that the group agreed to at its last meeting. That boost was a modest step at providing some relief to soaring prices. Before, OPEC+ had been adding about 432,000 barrels per day monthly to put oil back on the market after cutting production dramatically during the height of the pandemic.

30 Jun 2022, 02:07:21 PM IST

Sebi bans Parsvnath Developers from securities mkt for 6 months; fines ₹15 lakh

Sebi has barred Parsvnath Developers from the securities market for six months and imposed a penalty of 15 lakh on the company for flouting listing rules.

The company has been directed to pay the fine within 45 days, the Securities and Exchange Board of India (Sebi) said in an order.

Sebi found that Parsvnath Developers Ltd (PDL) failed to make provision for the outstanding amount in ledger accounts of contractors and sub-contractors and also failed to strictly comply with Accounting Standards 7 or AS 7, which deals with construction contracts.

30 Jun 2022, 02:02:49 PM IST

European shares face worst quarter since pandemic-led carnage in early 2020

European shares on Thursday looked set for their worst quarter since the pandemic-led carnage in early 2020, as investors became increasingly wary of a global recession in the wake of hawkish central bank actions to tame rapid inflation.

The continent-wide STOXX 600 index dropped 1.3%, setting it up for quarterly losses of more than 10%.

France's CAC 40 index slid 1.8% as preliminary official figures showed inflation climbed further from the previous month to a record 6.5%.

"What we're seeing at the moment is more evidence that inflation is serious, entrenched and investors are having to now reappraise the valuations they are putting on equities," said Azad Zangana­, senior European economist and strategist at Schroders.

"Now for a little while, the attitude in Europe was well a lot of the inflation is external. That's changing now and over the next few months, the European Central Bank will have to step up its efforts to curb inflation over the next few years."

The STOXX 600 fell for a second straight day after global central bank chiefs said bringing down high inflation around the world will be painful and could even crash growth.

All eyes are now on the first estimate of June inflation for the euro zone due on Friday, which the ECB should scrutinize ahead of its July 21 policy meeting where it promised to hike rates for the first time since 2011.

30 Jun 2022, 02:01:50 PM IST

Chemical stock trades near 52-week low. Brokerage upgrades rating to 'Buy'

Domestic brokerage and research firm Prabhudas Lilladher is bullish on Rallis India shares and has upgraded the chemical stock's rating to ‘Buy’, given its recent correction in the stock price and has a target price of 230.

30 Jun 2022, 01:43:42 PM IST

Metal stocks weak; Coal India, Jindal Steel, Vedanta drag

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30 Jun 2022, 01:27:08 PM IST

B Right Real Estate IPO opens today. Price, review, other details in 10 points

B Right Real Estate IPO: The initial public offer (IPO) of B Right Real Estate Limited has opened for subscription today and the BSE SME public issue worth 44.36 crore will remain open for bidding till 5th July 2022. The real estate company has fixed B Right Real Estate IPO price band at 153 per equity share and one lot of the IPO will comprise 800 shares of the company.

30 Jun 2022, 01:13:05 PM IST

Prabhudas Lilladher on Rallis India

Rating: BUY | CMP: Rs187 | TP: Rs230

We trim our FY23/24E EPS estimates by 16%/15% citing pressure on near term margins and upgrade the rating to ‘BUY’ from HOLD with revised TP of Rs230 (Rs260 earlier) based on 18xFY24 EPS. Management stated that recent correction in RM prices coupled with high cost inventory will exert pressures on 1HFY23 margins. However, 4-5% price hikes (as compared to Mar-22 levels) will help to partially mitigate the same.

Rallis India (RALI) in its first ever pre-quarterly conference call highlighted that (a) domestic crop care and seeds segment will likely post stable performance in 1QFY23, placements have progressed as per plan and liquidation will take place in subsequent quarters; (b) delayed monsoons do have an impact in terms of placements and liquidation, while some crop shift patterns are visible in cotton and paddy crops; (c) exports will likely grow better than other segments (lower base of last year -8% YoY to aid growth); (d) pressure on margins likely to persist in near term, however, remains confident to maintain absolute EBITDA; (e) price hikes taken to the tune of 4-5% as compared to March’22 levels to mitigate inflated RM cost; and (f) capex plans are on schedule. We expect revenue/PAT CAGR of 10%/4% over FY22-24E (vs 8%/3% over FY11-22). Upgrade to ‘BUY’ given recent correction in stock price (down >30%).

30 Jun 2022, 01:04:55 PM IST

Biocon hires law firm for governance review after CBI arrests

Drugmaker Biocon Ltd has engaged an external law firm to do a comprehensive review of its governance processes involving consultants and vendors following the CBI making a few arrests over alleged bribes paid to a government drugs controller.

Sources with knowledge of the matter said the review is part of the management's reiteration of its commitment to strengthening compliance and governance practices across Biocon group entities.

The company already has a strong code of conduct and an anti-bribery corruption clause in its contracts with all its vendors.

30 Jun 2022, 12:51:45 PM IST

Metal stock hits 52-week high ahead of record date for bonus shares issue

Shares of Ratnamani Metals and Tubes Ltd jumped to hit a 52-week high level of 1,920 apiece on the BSE in Thursday's early deals as the stock started trading ex-bonus, a day ahead of its record date for the bonus shares issue.

30 Jun 2022, 12:33:56 PM IST

JB Chemicals gets board approval to acquire Dr Reddy's 4 brands

JB Chemicals & Pharmaceuticals on Thursday said its board has approved a proposal to acquire four paediatric brands from Dr Reddy's Laboratories for about 98 crore.

The company's board at its meeting held on June 29, has considered and approved the acquisition of a portfolio of brands, for use sales within India, from Dr Reddy's Laboratories, the drug maker said in a regulatory filing.

The company has inked a pact with Dr Reddy's Laboratories to acquire four of its brands -- Z&D, Pedicloryl, Pecef and Ezinapi -- for the India market, it added.

30 Jun 2022, 12:30:12 PM IST

Nifty50 trades around 15,750; HDFC Life, Axis Bank top gainers

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30 Jun 2022, 12:23:26 PM IST

Indiabulls Housing Finance skips call on perpetual bonds in rare move

Indiabulls Housing Finance Ltd., one of India’s leading mortgage lenders, decided not to redeem its rupee-denominated perpetual bonds as refinancing costs rise at the fastest pace in at least two decades.

30 Jun 2022, 12:19:11 PM IST

Sensex trades marginally in the red

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30 Jun 2022, 11:51:17 AM IST

BSE auto index drops 0.45%

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30 Jun 2022, 11:43:06 AM IST

Bitcoin price falls 56% this year, trades below $20,000. What's the next support level for the crypto?

Bitcoin, the world’s largest and most popular cryptocurrency, has slumped in 2022 amid a risk-off mood driven by rate hikes and inflation fears. The digital token is down more than 56% in 2022 (YTD) so far, and is trading far away from its record high level of nearly $69,000 it had hit in November last year. The coin is currently trading below the $20,000 level.

30 Jun 2022, 11:31:32 AM IST

Asia stocks mixed after Wall St down, China manufacturing up

Asian stock markets were mixed Thursday after the U.S. economy contracted and China reported stronger factory activity.

Shanghai and Hong Kong gained, while Tokyo and Seoul declined. Oil prices advanced.

Wall Street's benchmark S&P 500 index edged down 0.1% on Wednesday after data showed the U.S. economy shrank in the first quarter amid high inflation and weakening consumer confidence.

Investors are uneasy about signs the biggest global economy might be in a recession due to interest rate hikes imposed to cool surging inflation.

“Equities demand could remain muted for at least the next four to six months as interest rate hikes work through the U.S. economy," said Stephen Innes of SPI Asset Management in a report.

The Shanghai Composite Index rose 1.4% to 3,406.82 after an official monthly gauge of factory activity rose and new orders improved. The Hang Seng in Hong Kong gained 0.2% to 22,032.70.

The Nikkei 225 in Tokyo fell 1.4% to 26,394.77 after May industrial production slumped 7.2% compared with the previous month. That was the sharpest decline since the start of the coronavirus pandemic in early 2020 and largely reflected disruptions in China due to the pandemic.

The Kospi in Seoul shed 1.6% to 2,339.70 and Sydney's S&P-ASX 200 declined 1.1$ to 6,625.40.

India's Sensex opened up 0.1% at 53,081.17. New Zealand, Singapore and Bangkok advanced while Jakarta declined.

30 Jun 2022, 11:23:02 AM IST

RBI Battles Against Rupee Slump With Multi-Pronged Strategy

India’s central bank is fighting on several fronts to slow the rupee’s decline to fresh records, with little respite in sight.

The Reserve Bank’s challenges include crashes in forward dollar premiums to rising open interest in futures that adds to pressure on the currency. Strategists say that the pressure will continue amid shrinking interest rate differentials with the US, elevated oil prices fueling domestic inflation and a widening trade deficit.

“The RBI has been intervening in all markets to defend the rupee," said Dhiraj Nim, economist and FX strategist at Australia & New Zealand Banking Group Ltd. “The pressure on the rupee remains, and the central bank will have to continue intervening to smoothen the depreciation path."

The rupee was steady at 78.95 a dollar on Thursday, with this year’s losses at 5.9%. Goldman Sachs Group Inc. became the latest to downgrade its rupee forecast and now sees the currency at 81 to a dollar over twelve months versus 78 earlier.

30 Jun 2022, 11:14:13 AM IST

Two Bajaj shares turn ex-dividend today. Details here

Dividend paying stocks: Two Bajaj shares — Bajaj Auto and Bajaj Finance have turned ex-dividend stocks today. As per their exchange communications, both companies have fixed 1st July 2022 as record date for dividend payment. The board of directors of Bajaj Auto has approved a dividend of 140 per equity share for the financial year 2021-22 whereas Bajaj Finance has recommended a dividend of 20 per equity share for the financial year 2021-22.

30 Jun 2022, 10:45:22 AM IST

Rupee rises 13 paise to 78.90 against US dollar in early trade

Recovering from its record low, the rupee appreciated 13 paise to 78.90 against the US dollar on Thursday.

At the interbank foreign exchange, the rupee opened at 78.92 against the American dollar. In initial trade, the local currency witnessed a high of 78.90 and a low of 78.94 against the US dollar.

In the previous session, the rupee had closed at its all-time low of 79.03 against the US dollar.

According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the range for the rupee today is 78.65-79.05.

30 Jun 2022, 10:35:06 AM IST

Realty index drops over 1%

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30 Jun 2022, 10:24:48 AM IST

Top BSE losers in morning trade

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30 Jun 2022, 10:08:10 AM IST

Rakesh Jhunjhunwala portfolio stock gives breakout. Should you buy now?

Rakesh Jhunjhunwala portfolio: The GST Council on Wednesday deferred the proposal to levy 28 per cent GST (Goods and Services Tax) on online gaming, casino and horse racing. After the announcement by the Government of India (GoI) about its decision on tax proposals, Delta Corp shares started surging northward as the company has strong exposure in casino business. The Rakesh Jhunjhunwala-backed company's stock ended near 2 points higher at 181.40 apiece levels on NSE giving fresh breakout at 178 levels.

30 Jun 2022, 10:07:36 AM IST

How can investors deal with crypto selloffs? A few tips from experts

When Doug Milnes started buying cryptocurrencies in January of this year, he felt like it could become an entirely new asset class for investors. Right now what it is making him feel is extremely unsettled.

30 Jun 2022, 09:52:12 AM IST

Indian Oil shares rise as stock trades ex-bonus

Oil marketing company Indian Oil Corporation (IOC) shares surged more than 2% to 74.8 apiece on the BSE as the stock started trading ex-bonus in Thursday's session, a day ahead of its record date for the 1:2 bonus shares issue.

30 Jun 2022, 09:47:16 AM IST

Top Sensex gainers in early trade

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30 Jun 2022, 09:37:58 AM IST

BSE indices in early morning trade

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30 Jun 2022, 09:35:56 AM IST

Can Indian IT giants avoid the breakups done by IBM and Atos?

The big boys of Indian IT have steered well through the last three decades. But they need to be more agile to avoid facing the ignominy of separations made by their larger western peers

30 Jun 2022, 09:31:15 AM IST

Nifty50 rises above 15,800; Kotak Bank, Britannia, Tata Motors top gainers, Cipla top loser

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30 Jun 2022, 09:24:45 AM IST

Sensex jumped around 200 points after opening flat

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30 Jun 2022, 09:12:20 AM IST

Nifty50 at pre-open: Trades around 15,775; Titan, Asian Paints top losers

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30 Jun 2022, 09:10:23 AM IST

Sensex at pre-open: Slips around 150 points; HDFC twins drag

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30 Jun 2022, 08:58:02 AM IST

Sun TV under F&O ban on NSE today, Delta Corp out

Only one stock has been put under the ban for trade on Thursday, June 30, 2022 under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as they have crossed 95% of the market-wide position limit (MWPL), as per the NSE.

30 Jun 2022, 08:53:16 AM IST

Multibagger Adani stock gives 183% CAGR over 4 years. ₹1 lakh turns ₹64 lakh

Multibagger stock: Adani Green Energy shares are one of the multibagger stocks that Indian stock market has produced in last one year. This has become possible despite global economy reeling under the heat of Covid-19 pandemic. After closing at 882 levels on 30th July 2021, this multibagger Adani group stock closed at 1899 per share levels on 29th June 2022, giving more than 100 per cent return to its shareholders.

30 Jun 2022, 08:41:46 AM IST

Cryptocurrency prices today: Bitcoin, ether fall while dogecoin, Shiba Inu, Uniswap gain

Cryptocurrency prices continued to decline with the world's largest and most popular cryptocurrency Bitcoin falling over a per cent and was trading at $20,069. The global cryptocurrency market cap today was below the $1 trillion, and was down over 3% in the last 24 hours to $929 billion, as per CoinGecko.

30 Jun 2022, 08:35:44 AM IST

Day trading guide for Thursday

6 stocks to buy or sell today — 30th June

30 Jun 2022, 08:34:38 AM IST

Gold inches higher; set for worst quarter in five as dollar shines

Gold firmed on Thursday as US Treasury yields dipped, but faces its worst quarter since early 2021, as the dollar cemented its place as the safe-haven asset of choice, amid top central banks adopting aggressive tactics against runaway inflation. Spot gold was up 0.1% at $1,818.31 per ounce by 0115 GMT. US gold futures also firmed 0.1% to $1,819.70.  Benchmark US 10-year Treasury yields inched down, increasing the appeal of non-yielding gold.  The dollar ticked up towards recent two-decade peaks, and could record its best quarter in over five years, making gold less attractive for buyers holding other currencies. *

30 Jun 2022, 08:15:26 AM IST

Rupee slides 18 paise to close at all-time low of 79.03 against US dollar

Falling for the fourth session in a row, the rupee slid by 18 paise to close at a record low of 79.03 against the US dollar on Wednesday, weighed down by a rise in crude oil prices, a strong dollar overseas and persistent foreign capital outflows.

At the interbank foreign exchange market, the rupee opened lower at 78.86 against the greenback and finally settled at 79.03, down 18 paise over its previous close.

During the session, the rupee touched an all-time low of 79.05 against the American currency.

30 Jun 2022, 08:15:05 AM IST

Sundram Fasteners plans to invest ₹100 cr in defence biz vertical

Auto component maker Sundram Fasteners plans to invest 100 crore in its defence business vertical in the next two years, company's chairman Suresh Krishna said on Wednesday.

Addressing the shareholders at the company's 59th Annual General Meeting in Chennai, Krishna stated that he expects the domestic automobile sector to grow in double digits across segments this fiscal after two years of sluggishness, according to a company statement.

The company has been devising plans and broad-basing the product segments to increase its revenues, exports and profits considering the need for faster growth and to ensure consistent performance under economic cycles, he said.

30 Jun 2022, 08:13:40 AM IST

Indiabulls Housing Finance skips call option on perpetual bonds

Indiabulls Housing Finance Ltd., one of India’s leading mortgage lenders, decided not to redeem its rupee-denominated perpetual bonds as refinancing costs rise at the fastest pace in at least two decades.

The financier had issued the so-called hybrid notes, with characteristics of debt and equity, in June 2012 with an option to redeem them 10 years later. But, the company chose not to call the 10.6% notes back on June 28 and instead paid interest on these securities a day prior.

“The implied cost of equity for non-bank lenders has increased in the last year owing to rising interest rates and capital outflows," a spokesperson for the company said. “These perps are attractively priced for investors, and the company’s cost will be higher currently if it were to replace this with equity."

30 Jun 2022, 08:12:35 AM IST

RBI battles against rupee’s slump with multi-pronged strategy

The Reserve Bank of India (RBI) is fighting on several fronts to slow the rupee’s decline to fresh records, with little respite in sight.

30 Jun 2022, 07:54:26 AM IST

Oil set for first monthly decline this year before OPEC+ meeting

Oil is heading for the first monthly decline since November as OPEC+ ministers prepare to gather to discuss the group’s supply policy.

West Texas Intermediate futures fluctuated near $110 a barrel after closing almost 2% lower on Wednesday. Escalating fears over an economic slowdown as central banks aggressively raise interest rates to combat surging inflation have dented oil this month. That’s overshadowed rapidly tightening energy markets.

OPEC+ is expected to rubber-stamp a modest increase in supply for August, but the group has struggled to meet its production targets this year. The US has repeatedly called on the cartel to pump more, and President Joe Biden is set to visit the Middle East next month as he seeks to tame surging fuel prices.

US gasoline demand is showing signs of softening just three weeks into the peak driving season, with near-record prices likely encouraging people to stay closer to home. The four-week moving average of gasoline supplied fell below 9 million barrels a day, or about 600,000 barrels less than typical seasonal levels, according to the Energy Information Administration.

30 Jun 2022, 07:38:27 AM IST

Tokyo shares open lower after mixed US trade

Tokyo shares opened lower on Thursday after US stocks ended flat, with investors searching for new trading cues.

The benchmark Nikkei 225 index fell 0.19 percent, or 51.32 points, to 26,753.28 at the open, while the broader Topix index lost 0.34 percent, or 6.48 points, to 1,887.09.

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