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July 05, 2022 / 04:12 PM IST

Closing Bell: Market erases all gains to end in the red; power stocks gain

Power index gained 0.6 percent and metal index up 0.4 percent, while selling was seen in the realty, IT, auto and banking names.

  • IndexPricesChangeChange%
    Sensex59,462.78130.18 +0.22%
    Nifty 5017,698.1539.15 +0.22%
    Nifty Bank39,042.30162.45 +0.42%
    Nifty 50 17,698.15 39.15 (0.22%)
    Fri, Aug 12, 2022
    Biggest GainerPricesChangeChange%
    ONGC139.206.40 +4.82%
    Biggest LoserPricesChangeChange%
    Divis Labs3,726.20-221.85 -5.62%
    Best SectorPricesChangeChange%
    Nifty Energy27163.95502.20 +1.88%
    Worst SectorPricesChangeChange%
    Nifty IT29885.90-347.80 -1.15%


  • July 05, 2022 / 04:21 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    It was a roller-coaster ride for markets as the Nifty swung volatile in a broader range and finally settled around the day’s low. Initially, supportive Asian cues triggered a firm start which was further boosted by healthy buying in banking majors and a rebound in metals, energy and pharma pack. 

    However, the tone changed completely in the second half and the index surrendered all its gains. Eventually, the Nifty index ended in the red to settle at 15,810 levels. In line with the benchmark, the broader indices ended with a marginal cut in the end.

    The sharp decline in the index can be attributed to the uncertain global markets and caution ahead of the earnings season. On the index front, the Nifty should hold decisively above 15,900 to inch towards 16,200 while a decline below 15,600 would again put the bears back in the game. 

  • July 05, 2022 / 04:13 PM IST

    Anindya Banerjee, VP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities

    USDINR spot closed at a fresh all time high at 79.37, up 42 paise on spot. A sharp sell-off in EURUSD due to recessionary fears triggered risk-off trend across global equities. A double whammy of weak equities and strong US Dollar Index caused Rupee to depreciate against the US Dollar. 

    Low forward premium and offshore derivatives quoting a premium over onshore are signs of unwinding of carry trade which is a major headwind for the Rupee. Over the near term, we expect USDINR to trade with an upward bias, within a range of 79.00-79.80 on spot.

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  • July 05, 2022 / 03:58 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    Domestic market had started strong by extending its yesterday’s gains supported by strong macro numbers but global bourses opened weak impacting to close with marginal losses. 

    The current trend in the global market indicates that the uncertainties around recession and tightening monetary policy continues to haunt investors’ confidence. Dollar index opened sharply high affecting the performance of emerging currencies, depreciating INR.

  • July 05, 2022 / 03:49 PM IST

    Rupak De, Senior Technical Analyst at LKP Securities:

    Indian equities witnessed volatility as the Nifty failed to absorb selling pressure from the call writers leading to a close around the day's low. 

    Despite the selling, the Nifty held above the near-term moving averages. The trend is likely to remain positive as long as it sustains above 15800. On the higher end resistance is visible at 16000/16200.

  • July 05, 2022 / 03:34 PM IST

    Market Close: Benchmark indices erased all the intraday gains to end in the red amid high volatility.

    At close, the Sensex was down 100.42 points or 0.19% at 53,134.35, and the Nifty was down 24.50 points or 0.15% at 15,810.90. About 1671 shares have advanced, 1538 shares declined, and 150 shares are unchanged.

    Power Grid Corporation, Shree Cements, Hindalco Industries, Apollo Hospitals and Bajaj Finserv were among the top Nifty gainers. ITC, Wipro, HDFC Life, Britannia Industries and Maruti Suzuki were among the losers on the index.

    Power index gained 0.6 percent and metal index up 0.4 percent, while selling was seen in the realty, IT, auto and banking names.

    The BSE midcap index shed 0.3 percent, while smallcap index up 0.2 percent.

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  • July 05, 2022 / 03:33 PM IST

    Rupee Close:

    Indian rupee ended at fresh record low at 79.37 per dollar against Monday's close of 78.95.

  • July 05, 2022 / 03:21 PM IST

    Tata Steel 1QFY23 Production and delivery volumes

      Tata Steel 1QFY23 Production and delivery volumes
  • July 05, 2022 / 03:17 PM IST
  • July 05, 2022 / 03:12 PM IST

    Morgan Stanley View On AU Small Finance Bank
     
    Morgan Stanley has kept overweight rating on AU Small Finance Bank with a target at Rs 825 per share.

    AUM growth was strong at 5% QoQ & up 37% YoY and incremental funding cost increased by 40 bps QoQ.

    The collection efficiency remains strong, reported CNBC-TV18.

    AU Small Finance Bank was quoting at Rs 558.00, down Rs 5.00, or 0.89 percent on the BSE.

  • July 05, 2022 / 03:09 PM IST

    Gold Updates:

    Gold fell on Tuesday pressured by rate hike expectations and a stronger dollar, but growing recession fears kept safe-haven bullion above the key support level of $1,800 an ounce.

    Spot gold was down 0.4% to $1,801.20 per ounce by 0907 GMT, while U.S. gold futures were little changed at $1,800.80 per ounce.

     Gold Updates:  

 Gold fell on Tuesday pressured by rate hike expectations and a stronger dollar, but growing recession fears kept safe-haven bullion above the key support level of $1,800 an ounce. 

 Spot gold was down 0.4% to $1,801.20 per ounce by 0907 GMT, while U.S. gold futures were little changed at $1,800.80 per ounce.
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  • July 05, 2022 / 03:04 PM IST

    Market at 3 PM

    Benchmark indices were erased all the intraday gains and trading flat with negative bias.

    The Sensex was down 76.71 points or 0.14% at 53158.06, and the Nifty was down 22.70 points or 0.14% at 15812.70. About 1677 shares have advanced, 1428 shares declined, and 129 shares are unchanged.

     Market at 3 PM  

 Benchmark indices were erased all the intraday gains and trading flat with negative bias. 

 The Sensex was down 76.71 points or 0.14% at 53158.06, and the Nifty was down 22.70 points or 0.14% at 15812.70. About 1677 shares have advanced, 1428 shares declined, and 129 shares are unchanged.
  • July 05, 2022 / 02:57 PM IST

    Euro plunges to two-decade low

    The euro sank to a two-decade low versus the dollar on Tuesday as another surge in natural gas prices reignited worries about the health of the euro zone economy and data showed euro zone business growth slowed sharply in June.

    The euro tumbled 0.9% against the dollar to $1.0325, its weakest since December 2002. Versus the Swiss franc, it dropped 0.7%to 0.9941 francs, its lowest since 2015.

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