The Indian market opened lower today amid negative global cues. Sensex fell 171 points to 51,495 and Nifty lost 117 points to 15,260. The market ended lower on Thursday amid weak global cues. Sensex tanked 1,045 points to 51,495 and Nifty ended 331 points lower at 15,360.
Market fell for the fourth consecutive session ahead of Federal Reserve's policy announcement on Wednesday. Sensex fell 152 points to 52,541 and Nifty closed 40 points lower at 15,692.
Here's a look at live market updates today.
3:30 pm: Market ends in red
Sensex falls 135 points to 51,360 and Nifty slips 67 points to 15,293.
3:02 pm: Market update
Sensex falls 73 points to 51,422 and Nifty slips 33 points to 15,327 in late trading.
2:53 PM: India's private equity market hit a record $70 billion investments in 2021, says Bain & Co study
The Indian private equity market reached new heights in 2021, with record deal activity and a corresponding acceleration in exit momentum, with investments reaching a record high of $70 billion and transaction volume (number of deals) increasing by 87 per cent over 2020, as per a new report from consultancy firm Bain and Company. READ MORE
2:30 pm: Delhivery launches a same-day delivery system in 15 cities in India
Logistics provider Delhivery has launched a same-day delivery system in 15 cities across India. This new service will allow direct to consumer (or D2C) brands to deliver their website orders on the very day the order is received.
Delhivery said it aims to succeed on two fronts with this announcement: one, the faster delivery in a few hours will significantly improve the consumer experience, which will, in turn, set the table for brand loyalty, and two, the speedier delivery time will reduce the return rates, improving the brands' margins. READ MORE 1:51 pm: This Jhunjhunwala stock down 31% from record high, should you buy the dip?
Titan Company stock was the top loser on Sensex and Nifty as Indian market fell for the sixth straight session today. The stock, which forms a key component of ace investor Rakesh Jhunjhunwala's portfolio, fell 7.11 per cent to an intraday low of Rs 1911 on the BSE.READ MORE
12:42 PM: Market extends losses
Sensex falls 254 points to 51,241 and Nifty slips 80 points to 15,280.
10:39 am: FIIs sell shares worth Rs 3,257 crore
Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 3,257.65 crore on Thursday, as per exchange data.
10:39 am: International oil benchmark Brent crude declined 0.68 per cent to $118.98 per barrel.
9:55 am: Expert quote
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The dominant theme impacting equity markets globally is the synchronised global monetary tightening and the consequent fears of economic slowdown. The probability of the US slipping into recession is much higher now. Markets are discounting these concerns. The PE of S&P 500 is now around 16, close to the long-term average. Europe is trading at around 11 times. Markets will bottom out earlier than the economy does.
In India, valuations have declined, but are even now above long-term average. So, FPIs will continue to sell, capping a relief rally which can come any time. It is impossible to predict the market bottom. Ideal Investment strategy now should be calibrated buying in high quality growth stocks. Mutual fund SIP investors can consider increasing the amount of investment."
9:17 am: Market opens lower
Sensex falls 171 points to 51,495 and Nifty loses 117 points to 15,260.
8:40 am: Pre-opening comments
Prashanth Tapse, Vice President (Research), Mehta Equities
"After yesterday's drubbing, markets may exhibit caution in early trades with the undertone continuing to remain bearish following overnight slump in US markets. Investors remain concerned that central banks' commitment to bringing inflation down will seriously damage a fragile economic recovery. Further, crude oil prices are at $115 a barrel which is way above the assumption of $105 a barrel made by the RBI for its full-year inflation projections. The net outflow by FIIs from equities has reached Rs 1.81 lakh crore so far in 2022, while in the June month so far, FIIs have net sold Rs 34,270 crore, which is creating uncertainty among the investors."
8:35 am: Expert take
Osho Krishan, Sr. Analyst - Technical & Derivative Research, Angel One
"Going forward, our market is likely to remain volatile in the near term and is expected to mirror the moves from the global peers. Looking at the recent fall, it is advised to avoid undue risk and stay light on positions. Also, one needs to keep a close tab on the geopolitical developments and avoid aggressive bets till the volatility looms over."
8:20 am: SGX Nifty
The Indian market is likely to open higher today as SGX Nifty rose 30 points to 15,340. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
8:20 am: Expert take
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities
"The strategy should be to short trade if Nifty bounces to given levels and place a stop loss at 15800 or buy Nifty if it drops to 15,100-15,000 with a stop loss at 14,950."
8:15 am: Market on Thursday
The Indian market ended lower in the previous session as global markets turned volatile post a brief rally on the Federal Reserve rate hike. Sensex fell 1,045 points to 51,495 and Nifty ended 331 points lower at 15,360. The crash in the benchmark indices came after a rally in the morning session following a surge in global peers.
Tata Steel, Tech Mahindra and Bharti Airtel were the top Sensex losers falling up to 6.04 per cent. Nestle was the sole Sensex gainer, rising up to 0.30 per cent. BSE midcap and small-cap, indices slipped 513 points and 718 points, respectively.