Stock Market LIVE Updates: Sensex jumps 400 points, Nifty above 15,450; Vedanta, Hindalco rise 3% each

Sensex Today LIVE Updates: Indian shares rose on Tuesday, lifted by gains in metal, technology and automaker stocks, although concerns lingered about a hit to growth from aggressive central bank rate hikes. The blue-chip indexes are set for a second straight session of gains after suffering heavy losses last week on fears that aggressive rate hikes around the globe to curb inflation could lead to a recession. The Nifty Metal index was among the best performing sub-indexes, rising as much as 2.3% after plumbing 14-month lows in the previous session. Tech stocks rose 1.6%, while automakers advanced 1.2%.

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Suven, MRPL, GSFC among top gainers at this hour

Price as on 21 Jun, 2022 10:20 AM, Click on company names for their live prices.

Sensex LIVE Updates: Index extends gains, rises nearly 600 points

Suven Life Sciences to consider rights issue on June 24. The company informed exchanges that the board of directors will meet on June 24 to consider raising of funds through issue of shares on rights basis to existing shareholders of the company. Following this development, the stock rose 8%

Price as on 21 Jun, 2022 09:41 AM, Click on company names for their live prices.

State-owned Bank of India (BoI) is mulling to raise up to Rs 2,500 crore in fresh equity capital as it requires to increase the public shareholding in the bank to 25 per cent to comply with regulatory norms. Presently, public shareholding in Bank of India is 18.59 per cent.

Price as on 21 Jun, 2022 09:31 AM, Click on company names for their live prices.

Market View: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

A distinct trend in the market now is the weakness in the broader market. While Nifty 50 is down 5.6 percent during the last one month, Nifty Mid and Small- cap indices are down 9.25 percent and 12.63 percent respectively during the same period. This trend is likely to continue as long as the market remains weak. The pull back rally will be led by high-quality fundamentally strong large-caps.

Meanwhile, the Finance ministry’s latest Monthly Economic Review warns about the stress in government’s finances caused by the rising food and fertiliser subsidies and revenue forgone from cuts in petrol and diesel taxes. Both fiscal and current account deficits are likely to deteriorate surpassing budget estimates. This macro headwind can turn out to be a headwind for markets too, particularly if crude remains at elevated levels. Investors should seek the safety of fundamentally strong large-caps during this phase of market turbulence.

Market LIVE Updates: Voda Idea, Future Consumer, Vedanta among most active stocks on NSE

Price as on 21 Jun, 2022 09:24 AM, Click on company names for their live prices.

All sectors trade in the green; Media pack jumps 2.5%

OPENING BELL: Sensex jumps 400 points, Nifty above 15,450; Vedanta, Hindalco rise 3% each

Asian shares open higher

Asian shares opened slightly higher Tuesday morning, extending the previous day’s gains, following a positive lead from Europe as some stability returned to markets after last week’s hefty losses. MSCI’s index of Asia-Pacific shares outside Japan was up by 0.81 per cent.

Q4 results today

Gammon India and Aroma Enterprises are among companies which will announce their quarterly earnings today.

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 22.5 points, or 0.15 per cent, higher at 15,384.50, signaling that Dalal Street was headed for a positive start on Tuesday.

Tech View: Analysts see recovery ahead

Nifty50 on Monday snapped a six-day losing streak and formed an indecisive candle on the daily chart. The advance-decline ratio for the broader market remained skewed in favour of the bears, but analysts said certain technical parameters on Nifty50 are hinting at recovery ahead.

Oil rises on market caution over supply concerns

Oil prices rose 1% in early trade on Tuesday, clawing back more of last week’s losses as the focus returned to tight supply of crude and fuel products versus concerns about a recession hitting demand down the track. Brent crude futures rose $1.32, or 1.2%, to $115.45 a barrel at 0040 GMT, adding to a 0.9% gain on Monday. The benchmark contract fell 7.3% last week in its first weekly fall in five.

Tokyo shares open higher with eyes on Powell testimony

Tokyo shares opened higher Tuesday, as investors wait to hear Federal Reserve Chair Jerome Powell address the US Congress later this week. The benchmark Nikkei 225 index rose 1.07 percent or 275.88 points at 26,047.10 while the broader Topix index added 1.20 percent or 21.78 points at 1,840.72.

Rupee gains 7 paise to close at 77.98 against USD

Rising for the third straight session, the rupee appreciated by 7 paise to settle at 77.98 against the US dollar on Monday as crude oil prices retreated from elevated levels. However, unabated foreign fund outflows restricted the gains.

Sensex, Nifty on Monday

Benchmark indices finally managed to gain some lost ground on Monday after six consecutive days of fall as investors preferred to buy stocks at low levels though investors remained cautious throughout the session. Buying in FMCG and IT stocks pushed the Sensex 237.42 points higher to close at 51,597.84, while Nifty50 reclaimed the 15,350 mark.

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