| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 85,712.37 | 447.05 | +0.52% |
| Nifty 50 | 26,186.45 | 152.70 | +0.59% |
| Nifty Bank | 59,777.20 | 488.50 | +0.82% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Shriram Finance | 854.90 | 26.75 | +3.23% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Interglobe Avi | 5,370.50 | -66.00 | -1.21% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty PSU Bank | 8381.75 | 125.05 | +1.51% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Pharma | 22947.20 | -11.80 | -0.05% |
An important event ended in the market yesterday, but today the market was neutral at the level of 15550/51700. This confirms that the market trend is strong and may reach 15900/52800 or 16000/53100 level once again. Today, Technology stocks and Reliance gave strong support to the index, which allowed the Nifty to close at 15,700.
The Nifty/Sensex could reach fresh levels on Friday if the indices don't close below the levels of 15550/51700. On an immediate basis, 15770/52500 and 15850/52700 levels would be major hurdles. Below the levels of 15550/51700, the Nifty/Sensex would gradually fall to 15400/51300 or in the worst-case scenario 15300/51000.
The Indian rupee has witnessed a sharp depreciation of more than one percent in today’s trade owing to the strength witnessed in the dollar index and hawkish tone of the US Fed, which has dented the risk-on sentiments in the markets. With a faster than expected rise in inflation and swift recovery in the US economy, the US Fed has projected rate hikes and tapering of its massive bond-buying program sooner than expected, all of which bodes well for further strength in the greenback.
Besides, rise in crude oil towards two-year highs is also weighing on the local unit. In the near term, the path for the domestic currency looks skewed on the downside and we expect it to test levels of around 74.90 in coming days.
Rupee traded very weak on back US FED more of the hawkish stance of future tapering possibilities which sent the dollar index scaling pass $91.50 making rupee tumble more than 0.75 from 73.25 yesterday to more than 74.00 currently. Higher Crude prices also fuel the weakness in the rupee as brent inching close to $75 now. The range for rupee can be seen between 73.75-74.50 ahead.
Indian rupee slipped to six-week low on June 17 amid selling saw in the domestic equity marketafter US Fedprojectedinterest rate hikes into 2023.
The rupee ended at day's low, down 76paise, at 74.08per dollar after itopened at 73.67 per dollar against previous close of 73.32and remained in the range of 73.57-74.08 during the day.
: Benchmark indices ended lower for the second consecutive day on June 17 amid weak global cues after US Fed signaled higher rates in 2023 in its policy outcome on Wednesday.
At close, the Sensex was down 178.65 points or 0.34% at 52323.33, and the Nifty was down 76.10 points or 0.48% at 15691.40. About 1347 shares have advanced, 1784 shares declined, and 149 shares are unchanged.
Adani Ports, Tata Steel, IndusInd Bank, Hindalco and Eicher Motors were among major losers, while TCS, UltraTech Cement, HDFC Life, Tata Consumer and Asian Paints were among major gainers on the Nifty.
Except IT and FMCG indices ended in the red. BSE midcap and smallcap indices shed 0.5-1.3 percent.
The market witnessed profit booking following the global trends. Market continues to resist above 15750 and has taken a dip at 15620. If market closes below the levels of 15650, and might see a correction till the levels of 15470-15500. The momentum indicators like RSI, MACD indicating a small correction in the markets.
Gold prices dropped sharply after the US Federal reserve projected rate hikes into 2023. Gold is currently trading near $1809 which is sharply lower than the recent high of $1919.20 registered on 1st June. The FOMC had signaled two interest rate hikes by the end of 2023 even as officials in their statement pledged to keep policy supportive for now to encourage an ongoing jobs recovery. Fed announced to continue to buy $120 billion in bonds each month to fuel the economic recovery.
Gold prices are likely to trade negatively while below the key resistance level of 50 days EMA at $1846 and 100 days EMA at $1833 while immediate support level could be seen around $1790 and $1763
Nifty PSU Bank index sheds 1 percent dragged by the Bank of Baroda, PNB, IOB, Bank of India##Nifty PSU Bank index shed 1 percent dragged by the Bank of Baroda, PNB, IOB, Bank of India
Indian rupee slipped to six-week low on June 17 amid selling seen in the domestic equity marketafter US Fedprojectedinterest rate hikes into 2023.
The rupee extended the early losses and trading 65 paise lowerat 73.97 per dollar.It opened 35 paise lower at 73.67 per dollar against previous close of 73.32.
Crude oil prices dipped on Thursday as a stronger U.S. dollar brought them off multi-year highs, but losses were limited by a big drop in U.S. crude oil inventories.
Benchmark indices extended the losses with Nifty trading below 15700 dragged by auto, metal and pharma names.
The Sensex was down 239.02 points or 0.46% at 52262.96, and the Nifty was down 91.90 points or 0.58% at 15675.60. About 1147 shares have advanced, 1790 shares declined, and 114 shares are unchanged.
Adani Ports, Tata Steel, Hindalco, IndusInd Bank and Coal India were among major losers, while gainers included UltraTech Cement, Asian Paints, Tata Consumer Products, Shree Cements and HDFC Life.
