Sensex and Nifty started today’s session on a low note amid short pressure on the RIL and financial stocks. IndusInd Bank was Nifty50’s first winner in early trades, up 2.5%. Coal India, Bajaj Finance, HUL and ONGC were among the other top performing companies. On the other hand, Cipla was the most lagging behind, down 1.5%. Tata Consumer, Grasim, Asian Paints and HDFC were among the other losers. Shares of the recently listed Zomato fell 6 percent at the start of trading.
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Rolex Rings IPO opens today
Milan Desai, chief equity analyst Angel Broking, said the IPO is offered at a reasonable price given its high return ratios. “Given the potential rebound in demand from user industries, we have a positive view of the Rolex Rings IPO,” he said.
First Quarter Results Today
Maruti Suzuki, Nestlé (India), SRF, IDBI Bank, United Breweries, Oracle Financial Services Software, Cofoge, ABB India, Pfizer, Central Bank of India, Happiest Minds Technologies, Grindwell Norton, Welspun India and UTI Asset Management Company are among the companies that will report quarterly results today.
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All sector indices in red. Nifty Bank down 0.5%
Top losers of the pharmaceutical pack
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Asian Paintings, HDFC Losers on Sensex
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Opening bell: Sensex loses 250 points, Nifty50 below 15,700; Zomato holds 6%, IndusInd Bank up 2%
Pre-open session: Sensex up 80 points, Nifty above 15,750
Asian stocks hit 2021 low ahead of Fed verdict
Asian stocks were stuck at their seven-month lows on Wednesday as markets continued to digest a storm in Chinese stock markets as the dollar remained with traders reluctant to place large bets ahead of the meeting outcome from the Federal Reserve. The largest MSCI index of Asia-Pacific stocks outside of Japan fell 0.35% early in the session, after falling in each of the previous three sessions.
First Quarter Results Today
Maruti Suzuki, Nestlé (India), SRF, IDBI Bank, United Breweries, Oracle Financial Services Software, Cofoge, ABB India, Pfizer, Central Bank of India, Happiest Minds Technologies, Grindwell Norton, Welspun India and UTI Asset Management Company are among the company that will announce its quarterly results today.
Gold approached key $ 1,800 level ahead of Fed result
Gold prices held steady on Wednesday, holding near the key psychological level of $ 1,800 an ounce, as investors await the US Federal Reserve meeting for advice on plans to cut policy. Spot gold was flat at $ 1,798.75 an ounce. US gold futures fell 0.1% to $ 1,798.20 an ounce. The Fed’s policy statement is expected at 11:30 p.m. later today, followed by a press conference by President Jerome Powell.
China’s nervousness raises safe-haven currencies; the dollar is waiting for the Fed
The dollar was nailed below recent highs on Wednesday by lower real yields and apprehension ahead of a Federal Reserve meeting, while other safe-haven currencies were in favor following a baffling drop in Chinese stock markets . Gains in the yen, euro and franc combined to push down the US dollar index and it stood at 92.472 on Wednesday.
SGX Nifty signs a positive start
Shrewd futures on the Singapore Stock Exchange traded 41 points, or 0.26%, up to 15,783, signaling that Dalal Street was heading for a positive start on Wednesday.
Tech View: Nifty shows no signs of weakness
: Nifty50 on Tuesday closed below the 15,750 level and formed a large bearish candle on the daily scale. But analysts don’t see this as a sign of weakness, as the 50-pack index has been trading in the wider 15,900-600 range for 29 sessions now. There is a good chance that the index will find good support near the lower end of the range, they said, adding that the ongoing consolidation could continue.
Hong Kong stocks open on a positive note
Hong Kong stocks climbed more than one percent at the start of trading on Wednesday as bargain buyers moved after a painful three-day sell-off sparked by China’s latest crackdown on a range of industries . The Hang Seng Index rose 1.08%, or 270.31 points, to 25,356.74. The Shanghai Composite Benchmark Index slipped 0.75%, or 25.36 points, to 3,355.82, while the Shenzhen Composite Index on China’s Second Stock Exchange fell 0.90%, or 20.96 points, at 2310.47.
Tokyo shares open lower on US falls
Tokyo shares opened lower on Wednesday as investors were disheartened by the falls on Wall Street with their eyes riveted on the outcome of a U.S. Federal Reserve meeting later in the day. The benchmark Nikkei 225 index fell 0.95%, or 266.40 points, to 27,703.82, while the broader Topix index slipped 0.70%, or 13.55 points, to 1,924.49.
US indices fall back
A drop in tech and consumer-focused companies helped pull stocks lower on Wall Street on Tuesday, dragging major indices below record highs they set a day earlier. The S & P500 index lost 20.84 points to 4,401.46. The Dow Jones Industrial Average fell 85.79 points, or 0.2%, to 35,058.52. The highly technical Nasdaq lost 180.14 points, or 1.2%, to 14,660.58.
The rupee drops 5 paise to 74.47 against the dollar
The rupee slipped 5 paise to close at 74.47 (provisionally) against the US dollar on Tuesday as the dollar strengthened in foreign markets and domestic stock indices closed in losses. Forex traders said the rupee is trading in a narrow range as investors wait for signals from the US Fed’s policy decision due Wednesday and the month-end rebalancing.
Sensex, nice Tuesday
Benchmark stock indexes slashed initial gains and closed half a percent lower on Tuesday, with pharmaceutical stocks the hardest hit. At the closing bell, the S&P Sensex BSE was down 274 points or 0.52% to 52,579 while the Nifty 50 fell 78 points or 0.49% to 15,746. Among stocks, Dr Reddy’s Slipped 10.3% to Rs 4,853.20 per share after the first quarter report. Cipla fell 3.5% and Sun Pharma 2.3%.