Stock market today, stock market updates: The benchmark BSE and National Stock Exchange (NSE) stock indexes ended down more than 1.5% on Friday, following a tumble in global markets.
The S&P BSE Sensex fell 1,016.84 points (1.84%) to end at 54,303.44 while the Nifty 50 fell 276.30 points (1.68%) to settle at 16,201 .80. Both indexes had opened about 1% lower earlier in the day and slipped further as the trade progressed. The BSE benchmark reached an intraday low of 54,205.99 while the wider Nifty touched 16,172.60.
On the Sensex pack, Kotak Mahindra Bank, Bajaj Finance, Housing Development Finance Corporation (HDFC), Reliance Industries (RIL), Wipro, Infosys, Tech Mahindra, Tata Steel and Tata Consultancy Services (TCS) were the big losers on Friday. On the other hand, Asian Paints, Ultratech Cement, Dr. Reddy’s Laboratories, Titan Company, IndusInd Bank, Nestle India and Hindustan Unilever finished in the green.
All sector indices ended in the red on Friday. Nifty Financial Services fell 2.24%, Nifty IT fell 2.17%, Nifty Oil & Ogas fell 2.08% and Nifty Bank slipped 1.71%.
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In the broader market, the S&P BSE MidCap ended at 22,490.32, down 144.73 points (0.64%) while the S&P BSE SmallCap stood at 25,857.42, down 144.73 points (0.64%). 181.85 points (0.70%). The Volatility Index or India VIX on NSE rose 2.27% to 19.58.
“After a streak of three weekly gains, Nifty ended the week down 2.31%. The rebounds remain short-lived as traders and investors continue to sell there. The US Fed meeting on June 14-15 will be the next big event affecting sentiment. Nifty closed below the 16,204 gap support. Now 16,026 will be the next support while 16,356 will be the resistance,” said Deepak Jasani, Head of Research at retail at HDFC Securities.
The the rupee tumbled 11 paise to close at a new all-time low of 77.85 (tentative) against the US dollar on Friday as a sell-off in domestic equities and a stronger greenback overseas weighed on investor sentiment.
Continued foreign capital outflows, high global crude oil prices and feelings of risk aversion also impacted national unity, traders said.
In the interbank FX market, the local currency opened at 77.81 and saw an intraday high of 77.79 and a low of 77.87 against the US Dollar.
The local unit finally settled at its all-time low of 77.85, down 11 paise from its previous close of 77.74.
Stocks were mostly down in Europe and Asia on Friday ahead of the release of key U.S. consumer inflation data, while U.S. futures were little changed. The latest report on the US Consumer Price Index was due later in the day. Economists expect inflation to have eased slightly to 8.2% in May from 8.3% a month earlier.
Investors are hoping for signs that inflation may have already peaked, Germany’s DAX lost 1.6% to 13,971.00 while the CAC 40 in Paris fell 1.5% to 6,264.25 . Britain’s FTSE 100 fell 1.2% to 7,390.48. The S&P 500 future was down less than 0.1% and the Dow Industrials’ future was down slightly by 0.1%.
In Asian trading, markets in mainland China were boosted by news that inflation remained subdued at 2.1% in May. The Shanghai Composite Index added 1.4% to 3,284.83. Tokyo’s Nikkei 225 lost 1.5% to 27,824.29 while Seoul’s Kospi lost 1.1% to 2,595.87. In Australia, the S&P/ASX 200 fell 1.3% to 6,932.00. Hong Kong’s Hang Seng fell 0.3%, losing its first gains, to 21,806.18.
– Rupee entry of PTI and global market entry of AP