The domestic equity benchmark began to fall sharply on Monday, following global peers following hawkish comments from Federal Reserve official Jim Bullard who suggested that the first interest rate hike by the central bank US market could take place as early as the end of 2022. The S&P BSE Sensex index plunged 604.26 points to 51,740.19 in the first few minutes of trading, and the broader benchmark NSE Nifty50 fell to 15,505.65, down 177.7 points from its previous close. JSW Steel was the furthest behind among blue chip stocks, trading down 2.93% in early trades. Tata Motors, Hindalco, ultraTech, SBI, IndusInd Bank and UPL were among the other losers. On the other hand, NTPC was the top performer among the four winning percentages of the Nifty50 pack, up 1.98%. Adani Ports, HUL and HDFC Life have also increased.
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Sebi could open commodity futures to REITs
India is considering a plan to allow foreign portfolio investors (REITs) to trade commodity futures contracts listed on local stock exchanges. The Securities & Exchange Board of India (Sebi) recently held a meeting with major international commodity trading companies, REITs who are large commodity investors in other markets, banks and one of the stock exchanges to understand their point of view on the subject, according to two people. who attended the meeting. Unlike other financial products like stocks, bonds, gilts and currencies, foreign companies are not allowed to take positions in commodity derivatives traded on exchanges.
Porinju Veliyath of Equity Intelligence on the themes to play in the market
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PNB Housing shares on the decline
PNB Housing Finance stock fell on Monday after Sebi blocked PNB Housing Finance from voting on a shareholder vote on the proposed Rs 4,000 crore deal with the Carlyle group. The watchdog said the resolution regarding the deal, which was due to be put to a shareholder vote on June 22, was “ultra-vires” of the company’s articles of association (AoA). Sebi asked the company to perform the valuation process in accordance with the applicable legal provisions. Shares of the housing finance company fell 5% to Rs 702.40 on Monday. BSE Sensex was trading at 52,099.12, down 245.33 points or 0.47% at 10:25 am. The meter closed at Rs 739.35 on Friday.
Rupee collapses 34 paise against US dollar
The Indian rupee fell 34 paise to 74.20 against the US dollar when trade opened on Monday, following the strengthening of the US dollar and a moderate trend in domestic stocks. Forex traders said rising crude oil prices also weighed on investor sentiment. In the interbank forex market, the rupee opened lower at 74.20 against the dollar, registering a decline of 34 paise from its previous close.
Authum Investment and Reliance Home Finance shares rise 2% and 5% respectively as Authum emerges as top bidder for Reliance Home Finance
Price as of June 21, 2021 10:56 a.m.Click on the names of the companies for their live prices.
NTPC’s Jhabua Power offering hits NPA tag hurdle
State-owned power giant NTPC Ltd faces an Article 29A hurdle in its bid for Jhabua Power, a clause embedded in the Insolvency and Bankruptcy Code (IBC) that prevents bidders from buying insolvent companies if they or their associated companies have a history of defaults, according to several executives. NTPC has stakes in Ratnagiri Gas and Power Ltd and Konkan LNG. Both companies had defaulted on their loans before the start of Jhabua Power’s insolvency proceedings.
Metals stocks in the green as BSE further cuts losses
Price as of June 21, 2021 10:47Click on the names of the companies for their live prices.
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Hinduja Global Solutions shares reached upper channel at start of trading
Price as of June 21, 2021 10:36Click on the names of the companies for their live prices.
BSE Big Losers at 10:00 a.m.
Big Cap BSE Winners at 10:00 a.m.
PNB Housing Finance falls after the end of the Carlyle agreement
Price as of June 21, 2021 10:16 amClick on the names of the companies for their live prices.
Bandhan Bank soars 7% in early trade as Assam government grants MFI lending relief
Price as of June 21, 2021 10:07 amClick on the names of the companies for their live prices.
Sun, Cadila up, Laurus Labs, Biocon, Cipla in the red among pharmaceutical stocks
Price as of June 21, 2021 09:58Click on the names of the companies for their live prices.
Biggest Losing Bank Stocks, Drag Index
Price as of June 21, 2021 9:50 a.m.Click on the names of the companies for their live prices.
India VX fear gauge increases 8.51%
Markets should spend a little more time in a range and we expect volatility to remain high due to the expected expiration of the June derivative contracts. In the absence of a major event, participants will be watching global markets closely for clues. In addition, the progress of the monsoon and updates on the vaccination campaign will also be the focus of attention.
– Ajit Mishra, Religare Broker
Sensex recovers almost half of the initial losses
Sensex recovers nearly half of the initial losses after plunging 500 points early in the session. The hawkish US Fed had triggered a massive selloff across Asia on Monday, with domestic stocks eroding Rs 3 lakh crore of investor wealth within five minutes of starting trading. Data showed that the BSE market cap declined from Rs 2.68 lakh crore to Rs 224.65 lakh crore against Rs 227.33 lakh crore on Friday.
Sale of D-St erodes Rs 3 lakh crore in investor wealth
Opening bell: Sensex joins the global rout, accumulates 500 points; Clever below 15,550; SBI and Tata Steel drop 2% each
Pre-open session: Sensex loses 250 points, Nifty50 below 15,600
SGX Nifty announces start of delay
Shrewd futures on the Singapore Stock Exchange traded 205 points, or 1.30%, down to 15,545, signaling that Dalal Street was heading for a lower start on Monday.
Technical view: smart assistance at 15,430
Nifty50 Friday declined for the third consecutive session. He formed a “Hammer” candle on the daily chart and an indecisive “Doji” on the weekly scale. Analysts said the 15,430-450 range will be crucial support to defend. They see immediate resistance from Nifty50 at the 15,761 level.
Hong Kong stocks open lower
Hong Kong stocks started sharply lower Monday morning following a massive sell off in New York on expectations that the Federal Reserve will begin easing its ultra-accommodative monetary policy sooner than expected. The Hang Seng Index fell 1.04%, or 299.63 points, to 28,501.64. The Shanghai benchmark composite index slipped 0.27%, or 9.60 points, to 3,515.50, while the Shenzhen composite index on China’s Second Stock Exchange fell 0.20%, or 4.81 points, at 2,373.80.
Tokyo Nikkei drops 3% amid fears of U.S. rate hikes
Tokyo’s key Nikkei index fell just over 3% after Monday’s opening, following losses on Wall Street as investors digested messages from the Federal Reserve on tighter monetary policy. The benchmark Nikkei 225 fell 3.01% or 870.79 points to 28,093.29 just over 30 minutes after the opening bell, while the larger Topix index lost 2.44 % or 47.51 points at 1,899.05.
US stocks fell on Friday
US stocks ended sharply lower on Friday, with the Dow Jones and S&P 500 posting their worst weekly performances in months, after comments from Federal Reserve official James Bullard that the US central bank could raise interest rates earlier than expected, which frightened investors. On Friday, the Dow Jones Industrial Average fell 533.37 points, or 1.58%, to 33,290.08, the S&P 500 lost 55.41 points, or 1.31%, to 4,166.45 and the Nasdaq Composite lost 130.97 points, or 0.92%, to 14,030.38.
Rupee ends 8-day losing streak; increases 22 paise to 73.86 per dollar
The rupee broke its eight-game losing streak on Friday to end up 22 paise to 73.86 against the US dollar, taking inspiration from strengthening Asian currencies and falling crude oil prices. In the interbank foreign exchange market, the national unit opened lower at 74.10 per dollar from the previous close of 74.08. It touched a low of 74.27 during the day following a weak trend in domestic stocks, before regaining lost ground to finish at 73.86.
Sensex, owl on Friday
ESB Sensex staged a smart recovery to finish on positive ground after plunging more than 722 points during Friday’s session, as heavyweights Reliance and the HDFC duo saved the day for benchmark. After swinging over 985 points during the day, the BSE gauge finished 21.12 points or 0.04 percent higher at 52,344.45. On the other hand, the broader NSE Nifty index slipped 8.05 points or 0.05% to close at 15,683.35. Intraday, the index hit a high of 15,761.50 and a low of 15,450.90.
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