sensex today: Stock Market LIVE Updates: Sensex falls over 250 points, Nifty tests 18,300; oil & gas stocks in the green; IT stocks bleed
U.S. retail sales in November fell more than expected, suggesting higher borrowing costs and fears of an imminent recession are hurting household spending in the world’s largest economy.
Wall Street shares fell sharply overnight, with Dow Jones , S&P 500 losing over 2% and tech-heavy Nasdaq Composite shedding more than 3%.
Following the U.S. Federal Reserve, both the Bank of England and European Central Bank raised rates by half a percentage point each and delivered hawkish commentary, hinting at a prolonged rate-hike cycle.
Asian stocks fell for second day in a row, with the MSCI Asia ex Japan falling over 0.5%.
Barring the Nifty Oil & Gas, all the other sectoral indexes declined with the Nifty IT leading the losses with a 1.3% slide.
IT stocks have seen a sharp decline since the Fed’s hawkish commentary as they are sensitive to changes in the U.S. market, which is their biggest revenue contributor.
Nifty Oil & Gas was the only sector that resisted the slide, rising 0.3%, after government slashed windfall tax on crude, diesel and aviation fuel, in its fortnightly revision.
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Jaihind Synthetics proposes to invest in Blue Sapphire Healthcares
Price as on 16 Dec, 2022 03:08 PM, Click on company names for their live prices.
Rossell India approves conversion of 1 million compulsorily convertible preference shares issued to BMG Enterprises
Price as on 16 Dec, 2022 02:55 PM, Click on company names for their live prices.
AU Small Finance Bank announced entering into bancassurance tie-up with HDFC Life Insurance Company.
Price as on 16 Dec, 2022 02:19 PM, Click on company names for their live prices.
PE/VC investments drop 42 pc to USD 4 bn in Nov
Investments by private equity and venture capital funds have declined by 42 per cent year-on-year to USD 4 billion in November, a report said on Friday. However, compared to the preceding month of October, investments have increased by 18 per cent, the report by industry lobby IVCA and EY, a consultancy, said, adding this is the second sequential rise in monthly investments.
Advani Hotels and Resorts (India) declared interim dividend of Rs 2 per share.
Price as on 16 Dec, 2022 01:26 PM, Click on company names for their live prices.
Why are sugar stocks in a sweet spot?
#StocksInNews | Sugar stocks in focus! Few stocks are up anywhere between 1-4%; @Ashesha_A joins in to explain the… https://t.co/GIUNWpGoEn
— ET NOW (@ETNOWlive) 1671174284000
Dilip Buildcon bags order worth Rs 976 crore
These stocks fall the most in a weak market
Price as on 16 Dec, 2022 12:40 PM, Click on company names for their live prices.
These stocks plummeted to 52-week lows in trade today
Tokyo shares close lower
Tokyo stocks closed lower on Friday, extending sharp falls on Wall Street driven by lacklustre US retail sales data and fears of a global recession. The benchmark Nikkei 225 index dropped 1.87 percent, or 524.58 points, to end at 27,527.12, while the broader Topix index fell 1.20 percent, or 23.69 points, to 1,950.21.
Dr Reddy’s Laboratories says Aurigene Oncology reports results of Aur101 in Phase II Study In patients with moderate to severe psoriasis
Price as on 16 Dec, 2022 11:45 AM, Click on company names for their live prices.
Evans Electric approves bonus issue of equity shares in ratio of 1:1
Price as on 16 Dec, 2022 11:21 AM, Click on company names for their live prices.
Patel Engineering approves buyback worth Rs 350 crore
Price as on 16 Dec, 2022 11:19 AM, Click on company names for their live prices.
Engineers India gets order for 30,000 MTPA Polysilicon and 500 MTPA Monosaline project from Mundra Solar Technology.
Price as on 16 Dec, 2022 11:08 AM, Click on company names for their live prices.
Sensex extends fall, slides over 400 points
WATCH | Will India outperform?
LIVE | Will India's outperformance continue? Adrian Lim of abrdn shares his India outlook @abrdn_plc @nikunjdalmia… https://t.co/j98GJdHtu1
— ET NOW (@ETNOWlive) 1671162847000
Check out the top gainers from oil & gas pack
Price as on 16 Dec, 2022 10:46 AM, Click on company names for their live prices.
Shares of GMM Pfaudler fell as much as 18.1% on Friday, their worst intraday percentage fall in nearly 5 years, after a report said that one of its promoters will sell its majority stake in India’s largest glass-lined equipment maker. Pfaudler Inc, which holds a 31.9% stake in GMM Pfaudler, will sell about 29.88% of its holding via block deals at a floor price of 1,700 rupees.
Price as on 16 Dec, 2022 10:26 AM, Click on company names for their live prices.
Institutional bids in IRCTC OFS strong; is it worth buying for retail investors?
The discount offered in the OFS does make it a compelling investment opportunity, but money managers don’t think so purely because of the valuation. IRCTC stock trades at 61.6 times its trailing 12 month earnings, according to Trendlyne. Year-to-date, shares of IRCTC have fallen 17% and is the only one within the railway PSU space to give negative returns. But, the stock tripled in value in 2021, giving the best-ever returns to investors.
While offering little or no visibility on the upside prospects for the last few days, we had been systematically pointing towards the extent of downsides that were to follow. We would soon be entering the 18,300-100 band which we had marked down yesterday. This region has the potential to either cool down the nerves, or to set off a powerful plunge that could revive talks of 16,800 again. However, the favoured view expects a pull back towards 18,480-520 region first, performance at which region would be crucial for setting further moves. A collapse is not the most favoured outcome though.
– Anand James – Chief Market Strategist at Geojit Financial Services
Reliance Consumer Products has announced the launch of its made-for-India consumer packaged goods brand called ‘Independence’ in Gujarat. The company will be selling products ranging from staples to processed foods.
Price as on 16 Dec, 2022 09:58 AM, Click on company names for their live prices.
Nifty Media pack in the green; check the top gainers
Price as on 16 Dec, 2022 09:48 AM, Click on company names for their live prices.
India has cut windfall tax on crude oil and aviation turbine fuel (ATF) and reduced export tax on diesel, according to a government order dated Dec. 15. It cut the tax on locally produced crude oil steeply to 1,700 rupees ($20.52) per tonne from 4,900 rupees, effective Friday, the order said. The federal government also cut export tax on diesel to 5 rupees per litre from 8 rupees, while slashing the windfall tax on ATF to 1.5 rupees per litre from 5 rupees, the document showed.
Price as on 16 Dec, 2022 09:31 AM, Click on company names for their live prices.
Tata Consumer, Hindustan Unilever in talks to buy Girnar Food & Beverages (Source: Media reports)
Price as on 16 Dec, 2022 09:29 AM, Click on company names for their live prices.
There is a near term risk aversion in global equity markets. Following the 50 bp rate hike and hawkish message from the Fed on 14th the ECB and BoE also hiked rates on 15th by 50 bp each and delivered, perhaps, a more hawkish message than the Fed. Other central banks like the Swiss National Bank and Bank of Thailand also have raised rates. This synchronised rate hiking cycle has impacted sentiments leading to sharp cuts of more than 3% in Nasdaq, CAC and DAX. India is likely to be less impacted by the bearish trend but investors can wait for the global markets to stabilise before making fresh commitments in this overvalued market. Moving some money to fixed income makes sense since fixed income returns are turning attractive.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Active stocks in morning trade
Price as on 16 Dec, 2022 09:21 AM, Click on company names for their live prices.
Opening Bell: Sensex sheds 300 pts, Nifty nears 18,300; GMM Pfaudler tanks 10%, HCL Tech 2%
Pre-open session: Sensex slips over 300 points; Nifty below 18,310
Asian stocks knocked down by hawkish rate views
Asian stocks dropped Friday after hawkish signals from central banks sparked a rout in European and US equities.
Oil rises, poised to end week higher despite economy concerns
Oil prices rose in early Asian trade on Friday after falling 2% in the previous session on central bank interest rates hikes, and is poised to end the week higher after a series of positive oil demand forecasts.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 64 points, or 0.35 per cent, lower at 18,395.50, signaling that Dalal Street was headed for a negative start on Friday.
Tech View: Large red candle on Nifty charts looks scary.
Indicating more weakness in the short term, headline equity index Nifty today formed a large red candle on the daily charts and negated its higher highs – higher lows formation of the last two sessions.
Tokyo stocks open lower on global recession worries
Tokyo stocks opened lower on Friday, extending sharp falls on Wall Street driven by lacklustre US retail sales data and fears central bank interest rate hikes will prompt a global recession. The benchmark Nikkei 225 index was down 1.34 percent, or 376.58 points, at 27,675.12 in early trade, while the broader Topix index fell 0.98 percent, or 19.12 points, to 1,954.61.
Wall Street slumps as Fed heightens recession fears
U.S. stock indexes closed sharply lower on Thursday, with each of the major averages suffering their biggest daily percentage drop in weeks, as fears intensified that the Federal Reserve’s battle against inflation using aggressive interest rate hikes could lead to a recession.
Rupee falls 27 paise to 82.76 against US dollar
The rupee declined by 27 paise to close at 82.76 against the US dollar on Thursday after the US Federal Reserve’s interest rate hike and its hawkish stance dented investor sentiments.
Sensex, Nifty on Thursday
The 30-share Sensex ended 879 points lower at 61,799, while its broader peer Nifty50 ended at 18,415 level.
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