
The Indian market opened lower today. Sensex fell 493 points to 52,684 and Nifty lost 141 points to 15,709 in early trade. Sensex rose 16 points to 53,177 and Nifty gained 18 points to 15,850 in June 28 session. M&M, Reliance Industries, Dr Reddy's and Tech Mahindra were the top Sensex gainers, rising up to 2.78 per cent. Titan, Asian Paints and Bajaj Finserv were the top Sensex losers, falling up to 3.54 per cent.
Here's a look at live market updates today.
3:30 pm: Sensex falls 150 points to 53,026 and Nifty loses 51 points to 15,799 in trade today.
2:22 pm: Market update
Sensex rises 12 points to 53,190 and Nifty down two points at 15,847.
1:35 pm: SpiceJet launches online visa service for effortless international travel
One of India's leading budget carriers, SpiceJet on Wednesday announced the debut of an online visa service for its international passengers. This would allow passengers flying abroad to apply for visas online, saving them the hassle of going in person or having to wait in line at airports for visa approval, according to the statement released by the company. READ MORE
12:52 pm: Top Losers
IndusInd Bank and HUL were the top Sensex losers falling up to 2.40 per cent on BSE.
12:49 PM: Market update
Sensex falls 93 points to 53,083 and Nifty lost 32 points to 15,817 in the afternoon session.
12:48 pm: RIL stock top Sensex gainer
RIL stock was the top Sensex gainer today amid a weak market after billionaire Mukesh Ambani resigned from the board of his $217 billion group's telecom arm, Reliance Jio, and handed over the firm's reins to elder son Akash. The sentiment was positive around the stock as the move shows clarity on the succession plan of Reliance Industries chairman Mukesh Ambani.
In a stock exchange filing, Reliance Jio Infocomm Ltd on Tuesday said the company's board at a meeting on June 27, ''approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company.'' This comes after his father resigned with effect from the close of working hours on June 27, it said.
12:15 pm: Rakesh Jhunjhunwala-backed Star Health slips 44% from IPO price, time to buy?
Shares of Star Health and Allied Insurance Company hit 52-week low today amid the ongoing market turmoil. The stock fell 1.88 per cent intraday to Rs 503 against the previous close of Rs 512.65 on BSE.
The stock forms part of ace investor Rakesh Jhunjhunwala's portfolio. Jhunjhunwala is a promoter of Star Health. He (14.40 per cent) and his wife Rekha Jhunjhunwala (3.11 per cent) held 17.51 per cent stake in the firm as of the March 2022 quarter, shareholding pattern data show. READ MORE
10:31 am: Route Mobile stock slips 7% after board clears share buyback
Shares of Route Mobile fell nearly 7 per cent today after its board approved the proposal of buyback of equity shares of the company. The buyback worth Rs 120 crore will be carried out at a price of Rs 1,700 per share. The buyback price is 27.94 per cent higher than the previous close.
However, shares of Route Mobile were trading in the red today. Route Mobile stock plunged 6.93 per cent to Rs 1,236.65 against the previous close of Rs 1328.70 on BSE. Market cap of the firm fell to Rs 7,895 crore on BSE.
9:43 AM: Expert take
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The sharp pullback witnessed in the US last Friday has lost steam and the markets have again turned weak. The decline in commodity prices last week has not sustained and Brent crude is back to above $117. Even though there is no consensus on whether the US economy will slip into recession or not, there are clear signs of the economy slowing down. But the labour market continues to be strong in the US and unemployment is low at 3.6%. In this context of conflicting signals, markets are likely to remain choppy. Investors should understand the fact that big money is made not by investing in a bull market but by systematically investing through a bear market and waiting patiently for the inevitable bull market. So, invest systematically in high-quality stocks."
9:19 am: Sensex falls 493 points to 52,684 and Nifty lost 141 points to 15,709 in early trade.
8:34 am: Expert take
Nagaraj Shetti, Technical Research Analyst, HDFC Securities
"Having sustained above the important area of 15750-15800 levels, there is a possibility of further upside from here towards the next important resistance of 16180 levels (opening downside gap of 13th June). On the other side, the level of 15,800 has been a significant value area and has resulted in a formation of long-range bear candle during its recent downside breakout (June 16). Hence, further choppy or range bound movement above 15,800 levels (absence of strong upside momentum) could signal chances of false upside breakout and that could possibly bring bears into action. Immediate resistance is placed at 15,950 levels."
8:20 am: SGX Nifty
The Indian market is likely to open lower today as SGX Nifty fell 169 points to 15,684. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
8:15 am: Market on Tuesday
Sensex rose 16 points to 53,177 and Nifty gained 18 points to 15,850 in June 28 session. M&M, Reliance Industries, Dr Reddy's and Tech Mahindra were the top Sensex gainers, rising up to 2.78 per cent. Titan, Asian Paints and Bajaj Finserv were the top Sensex losers, falling up to 3.54 per cent. '