Share Market update: Sensex, Nifty close flat; M&M, RIL top gainers

The Indian market ended higher today. Sensex rose 16 points to 53,177 and Nifty gained 18 points to 15,850.  In the afternoon session, Sensex fell 102 points to 53,058 and Nifty declined 21 points to 15,810.

Market ended higher for the third straight session on June 27 amid positive global cues. Sensex rose 433 points to 53,161 and Nifty gained 132 points to 15,832.

Market breadth was positive with 2,383 stocks ending higher against 1046 stocks falling on BSE. 146 shares were unchanged. Capital goods and IT stocks were the top sectoral gainers with their BSE indices ending 574 pts and 567 points higher, respectively.

Here's a look at live market updates today.

3:30 pm: Sensex rises 16 points to 53,177 and Nifty gains 18 points to 15,850. 

2:46 pm: Zomato stock slips 14% in two sessions

Shares of online food delivery firm Zomato have plunged 14 per cent in the last two sessions after the firm said it would buy local grocery-delivery startup Blinkit for Rs 4,447 crore ($568.16 million) in an all-stock deal. Shares of Zomato hit an intraday low of Rs 60.45, down 8.2 per cent today against the previous close of Rs 65.85 on BSE. With today's slide, the stock has lost Rs 9.9 or 14.07 per cent in the last two sessions.

12:54 pm: Market update

Sensex falls 102 points to 53,058 and Nifty declines 21 points to 15,810.

12:46 pm: Bajaj Auto share buyback: Should you sell shares or skip the offer?

Shares of Bajaj Auto were in focus today a day after the firm announced a share buyback worth Rs 2,500 crore. The buyback represents 9.61 per cent of the total paid up share capital. The firm said its board cleared buyback of shares at a price not exceeding Rs 4,600.

The buyback price was 20.64 per cent or Rs 787.2 higher to the Friday's close of Rs 3,812.80 on BSE. Meanwhile, shares of Bajaj Auto were trading 0.34 per cent higher at Rs 3,875 against the previous close of Rs 3,862.05. READ MORE

11:04 am: Latest update

Sensex falls 361 points to 52,799 and Nifty declines 97 points to 15,734.

11:01 am: Expert take on Rupee

Jigar Trivedi - Research Analyst- Commodities & Currencies Fundamental, Anand Rathi Shares & Stock Brokers said, "Indian Rupee spot notched a fresh record low of 78.5963 against dollar index on 28th June, owing to continued sell-off in equity markets coupled with elevated crude oil prices, which might weigh down on the net importer's fiscal balance. Rising crude oil prices once again bring back concerns on the inflation front, which might prompt the central banks to be very aggressive in hiking rates and thereby inducing a recession. Going forward, we expect the Rupee spot to depreciate towards 80/81 levels by the year-end as twin deficits add to pressure on the emerging market currency. The Fed is expected to hike rates by 75 bps in the July meeting, while the RBI meeting is not due until August, which could narrow the yield differentials between India and US, and might further weigh down on Rupee."

10:49 am: Top losers

Asian Paints, Titan Company, Bajaj Finserv, and HUL are the  top Sensex losers, falling up to 4.01 per cent.

10:46 am: Market update

Sensex falls 318 points to 52,842 and Nifty declines 91 points to 15,740.

10:43 am: Rupee falls to record low of 78.58 due to higher global crude prices

The Indian rupee opened at a record low against the dollar on Tuesday as a rise in global crude prices and weakness in local shares prompted investors to sell the local unit, traders said, adding that sharp losses during the session were unlikely.

Oil prices rose about 1% in early Asian trade after the United Arab Emirates' energy minister said the nation was producing near its maximum capacity, countering expectations that the country could help boost supply in a tight market.

9:40 am: Priti International raises Rs 30.11 cr

The board of Directors of Priti International Limited have approved the issuance of 30,11,000 convertible warrants into 30,11,000 equity shares with a face value of Rs 10 each.

The company raised Rs 30.11 crore by this preferential issue. The equity shares are issued to the promoters/promoter group and others (not part of the promoter group) on a preferential basis.

Each warrant was convertible to one equity shares at any given point in time during the period of 18 months. A total of 88 entities have been awarded with the preferential equity shares. NSE-listed and Jodhpur headquartered Priti International Limited is a leading home furnishing company in India with a wide collection in all segments from the furniture.

9:26 am: Market opens lower

Sensex fell 192 points to 52,969 and Nifty declined 91 points to 15,740 in early trade.

8:37 am: Expert take

Prashanth Tapse, Vice President (Research), Mehta Equities

"Markets are likely to struggle in early Tuesday trades, as most of the other Asian gauges have retreated after the recent gains, while US markets also closed lower in the overnight trades. Investors are likely to trade with caution and look for direction once the European markets open, as many of them don't want to risk their money by taking bullish positions when the overall fundamentals are still weak. The market is already facing a long list of challenges from expectations for slower economic growth around the world to the restraining effect of rising interest rates. And the Russian war is still creating uncertainty as investors guess how much pain it will ultimately inflict. Technically speaking, the downside risk on Nifty is likely only on any close below 15351 mark, while hurdles are seen at its psychological 16000 mark."

8:34 am: Expert take

Om Mehra, Research Associate, Choice Broking

"The trend may remain bullish for the shorter term but simultaneously profit booking from higher levels is expected as we are inching towards monthly expiry. Technically, sustaining above 16,000 levels on Nifty this week could result in acceleration of the uptrend, while 15,550 needs to be protected on the downside. If the Nifty breaches 15,350 on the downside, then the recent bullishness gets negated. On the other hand, bank Nifty has support at 33,000 levels while resistance at 34,500 levels."

8:20 am: SGX Nifty

The Indian market is likely to open lower today as SGX Nifty fell 87 points to 15,746. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Friday

The Indian market ended higher for the third straight session on June 27 amid positive global cues. Sensex rose 433 points to 53,161 and Nifty gained 132 points to 15,832. L&T, HCL Tech, Infosys and Tech Mahindra were the top Sensex gainers, rising up to 2.99 per cent.  Kotak Bank, RIL and Titan were the only Sensex losers, falling up to 0.45 per cent.