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Closing bell
Benchmark indices ended lower as concerns over global trade war dampened investor sentiment. The Sensex ended down by 73.88 points or 0.21 per cent at 35,548.26 and the Nifty down 17.85 points or 0.17 per cent at 10,799.85.
Top five Sensex gainers were ICICI Bank, Tata Motors, Bajaj Auto, Maruti and NTPC, while the major losers were Vedanta, Kotak Bank, Bharti Airtel, Coal India and Axis Bank.
Among BSE sectoral indices, metal index fell the most followed by IT, TECk and consumer durables, while oil & gas, auto, PSU and bank found investors' support.
MCX-Aluminium
The contract is currently trading at Rs 152 per kg. Though there is a support at current levels at Rs 151.5, bias on the chart is bearish. A fall to R 148 or Rs 146 is likely in the coming days. Click here to read more
ICICI Bank board meet
ICICI Bank board meeting is underway to approve the appointment of retired Supreme Court Judge Justice BN Srikrishna to head the internal probe into allegations against the lender’s Managing Director and CEO, Chanda Kochhar. Click here to read more
Tata Steel hits 3-week low
Shares of Tata Steel Ltd dropped as much as 2.6 per cent to Rs 551, their lowest since May 24. The stock posted its biggest intraday percentage loss since June 1. Read more
OMCs gain on China tariff threat
Oil marketing companies shares posted biggest intraday percentage gain since May 28 as crude oil declined after China threatened duties on American crude imports in an escalating trade dispute with Washington. Read more
ICICI Bank climbs 2.5%
ICICI Bank shares climbed on report of management reshuffle. The stock jumped as much as 2.51 per cent to Rs 289.6, marking its biggest intraday percentage gain since June 7. Click here to read more
Benchmark indices continued to trade flat as investors remained wary owing to weak global cues . The Sensex was up 14.99 points or 0.04 per cent at 35,637.13 and the Nifty up 5.1 points or 0.05 per cent at 10,822.80.
Top five Sensex gainers were ICICI Bank, Tata Motors, Bajaj Auto, M&M and IndusInd Bank, while the major losers were Vedanta, Tata Steel, Kotak Bank, Coal India and Infosys.
Among BSE sectoral indices, oil & gas, auto, bank and PSU found investors' support, while metal, capital goods, healthcare and infrastructure succumbed to selling pressure.
Asian shares fell to a 2-1/2 week low after US President Donald Trump cranked up trade tensions by going ahead with tariffs on Chinese imports, prompting Beijing to immediately respond in kind.
Silver futures
Silver prices dropped by Rs 134 per kg to Rs 40,065 per kg at the futures trade as speculators locked-in gains at prevailing levels amid a weak trend in global markets. More on this
Gold futures
Gold futures fell 0.25 per cent to Rs 30,932 per 10 grams due to profit-booking by investors despite firm global cues. Read more
Vedanta, Dr Reddy's fall 4%
Shares of Vedanta and Dr Reddy’s Labs fell up to 4 per cent on the BSE as the 30-share Sensex rejig came into effect today. Read more
Outlook for euro, pound and yuan
Although the Indian rupee posted a robust 6 per cent rally last calendar year against the dollar, it weakened against other majors like the euro and the pound. The rupee was down 6 per cent against the euro and 3 per cent against the pound in 2017. The prime reason behind the rupee’s under-performance against these currencies has been the strength of the euro and the pound last year. More on this
Your stock portfolio
HEG is range-bound
A strong plunge below the key medium-term support at ₹2,500 will confirm the trend reversal and pull the stock down to ₹2,000 and ₹1,600 in the medium to long term.
Graphite India (₹815.6)
A near-term support is at ₹750 and a slump below this base level can pull the stock down to ₹700 and then to ₹660 levels in the medium term.
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The Sensex was trading down 69.11 points or 0.19 per cent at 35,553.03 and the Nifty down 14.95 points or 0.14 per cent at 10,802.75.
Top five Sensex gainers were ICICI Bank, Tata Motors, Bajaj Auto, NTPC and IndusInd Bank, while the major losers were Vedanta, Tata Steel, Kotak Bank, Coal India and Infosys.
Nifty 50 June Futures (10,796)
The contract is trading volatile and has marked an intra-day low at 10,781 and high at 10,817. It is moving sideways with a negative bias.Traders with a short-term perspective can initiate fresh short positions on a fall below the immediate support level of 10,780 with a fixed stop-loss. Click here to read more
Weekly trading guide
Supports could limit the downside in SBI(₹277.5)
The near-term view is negative. The stock can test the immediate support at ₹273. A break below this support can pull the stock lower to ₹270. Further break below ₹270 will increase the likelihood of the stock declining to ₹265 or even ₹262 in the short term.
Bearish outlook is intact in ITC (₹264.5)
ITC looks vulnerable to break below the immediate support at ₹263.5 and may fall to ₹260 or ₹258 in the coming days. The price action on the chart keeps the bearish outlook intact.
Key resistance is ahead for Infosys (₹1,280.4)
A key resistance is in the ₹1,295-₹1,300 region, which is likely to be tested in the near term. But whether Infosys breaks above this hurdle or not will decide the next move.
RIL hovers below a crucial resistance (₹1,013.8)
A key short-term resistance is at ₹1,023. If RIL manages to breach this hurdle, the current rally can extend to ₹1,040 or ₹1,045 in the near term. Further break above ₹1,045 will pave way for the next target of ₹1,100 and higher levels.
Immediate outlook is mixed for Tata Steel(₹565.9)
The stock can remain range-bound between ₹550 and ₹610 for some time. A breakout on either side of ₹550 or ₹610 will then determine the next trend. Traders can stay out of this stock until a clear trend and a trade signal emerges.
Click here to read the full guide
Bullion cues
The short-term outlook for the global spot gold ($1,278 per ounce) remains negative. However, an immediate support is at $1,275. If gold sustains above this support, a relief rally to $1,287 or $1,290 is possible in the near term. But further rally beyond $1,290 looks less probable at the moment. Click here to read more
Govt eyeing double-digit GDP growth
The Government expects double-digit growth by the fourth quarter (January -March) of the current fiscal 2018-19, says interim Finance Minister Piyush Goyal. Click here to read more
Post-noon trade
Benchmark indices were trading flat as investors remained cautious due to weak global cues. The Sensex was down 0.55 point or 0.00 per cent at 35,621.59 and the Nifty down 5.75 points or 0.05 per cent at 10,811.95.
Top five Sensex gainers were ICICI Bank, Tata Motors, Bajaj Auto, M&M and Maruti, while the major losers were Vedanta, Tata Steel, Kotak Bank, Coal India and HDFC Bank.
“We are off to a flattish start on fall in metals, profit-booking in a few pharma stocks and what has been guiding markets is the escalation in the trade war tensions,” said Anand James, chief market strategist at Geojit Financial Services.
Metal stocks saw selling pressure for a seventh straight session, with the Nifty metal index skidding over 2.5 per cent. Vedanta Ltd dropped as much as 4.1 per cent, the top percentage loser on both the domestic indexes.
Pharma stocks took a breather, with the Nifty pharma index down over 1 percent, on track to halt an eight-day winning streak. Financials such as Kotak Mahindra Bank Ltd and HDFC Bank Ltd fell over 1 percent each and were among the biggest drags on the NSE index.
Among BSE sectoral indices, metal index fell the most followed by capital goods, healthcare and infrastructure. On the other hand, oil & gas, auto, PSU and bank found investors' support.
Why is Urjit Patel anxious about Fed tightening
A day before the June monetary policy meeting, RBI Governor Urjit Patel sprung a surprise by writing a column in The Financial Times , asking the US Federal Reserve to go slow with its balance sheet-shrinking programme. Why did Patel pen the article? Click here to read more
WTI slumps to $63.59
China threatens US oil import duties as trade spat escalates. File Photo
US oil prices slumped as China threatened duties on American crude imports in an escalating trade dispute with WashingtonUS West Texas Intermediate crude futures touched their lowest level since April, falling to $63.59 per barrel before edging back to $63.83 a barrel by 0426 GMT. Read more
Dollar stays near 7-month peak
The dollar edged up towards a seven-month high as investors bet the United States and China would avoid a full-blown trade war, although tensions between the two slowed its gains. More on this
M-cap of top-7 Sensex cos
Seven of 10-most valued companies added Rs 73,871.79 crore to their total market valuation last week, led by TCS, that became the first blue-chip to hit a market capitalisation of Rs 7 lakh crore. Click here to read more
FPI outflows
Foreign investors have pulled out more than Rs 5,500 crore from capital markets so far this month due to global trade war worries coupled with hawkish commentary by the US Federal Reserve. Click here to read more
Benchmark indices were trading flat as Asian shares fell after US President Donald Trump cranked up trade tensions by going ahead with tariffs on Chinese imports, prompting Beijing to immediately respond in kind.
The Sensex was up 5.15 points or 0.01 per cent at 35,627.29 and the Nifty up 2.1 points or 0.02 per cent at 10,819.80.
Top five Sensex gainers were ICICI Bank, M&M, Tata Motors, Maruti and Asian Paints, while the major losers were Vedanta, Tata Steel, Kotak Bank, Coal India and PowerGrid.
Among BSE sectoral indices, metal index fell the most followed by power, realty and IT. On the other hand, oil & gas, auto, PSU and healthcare found investors' support.
As per provisional data, domestic institutional investors had bought shares worth Rs 561.01 crore on Friday, while foreign portfolio investors sold shares worth Rs 1,524.74 crore.
10.15 am
Rupee hits fresh 3-week low
The rupee weakened by 15 paise to hit a fresh three-week low of 68.16 against the US dollar, due to strengthening of dollar against other currencies overseas amid sustained foreign capital outflows. Click here to read more
‘We expect 50% earnings growth in FY18-FY20’
Amid macro-economic challenges, Saion Mukherjee, Head of Equity Research at Nomura, is hopeful of economic growth and earnings recovery. He is positive on companies from sectors such as private retail banks, select NBFCs, automobiles, gas, healthcare, rural-focussed ones, financing and construction. Click here to read more
Hero MotoCorp: Dawn of new hope
A revival in demand for motorcycles bodes well for Hero MotoCorp. The company’s leadership position in the entry bikes segment and the upcoming launches to fill gaps in its product portfolio also hold promise. Investors with a two-year perspective can buy the stock. Click here to read more
Nifty trading on SGX set to continue
In a major reprieve for foreign funds, the Singapore Exchange may be able to facilitate trading of the Nifty index on its platform even in 2019. An arbitrator appointed by the Bombay High Court has directed the National Stock Exchange to extend the agreement of Nifty-licensed products to SGX until the arbitration concludes. Click here to read more
Insolvency resolution and its effects
The inordinate delay in the insolvency resolution process against the top 10 defaulter companies has already led to a notional a loss of ₹25,000 crore to the banking sector. Click here to read more
9.15 am
The 30-share BSE index Sensex opened lower by 17.15 points at 35,604.99 against the previous close of 35,622.14 and the 50-share NSE index Nifty down 5.25 points at 10,812.45 against Friday's close of 10,817.70.
9.10 am
Indices on the brink of a reversal
Further weakness in the rupee will have a negative impact on the market. The IMD indicates that the monsoon is likely to remain subdued for another week and its progress needs to be watched. The BoE interest rate decision and OPEC meetings are vital global events to be watched this week. Click here to read more
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