Share Market update: Sensex falls 98 pts, Nifty below 15,950; IT stocks sink

The Indian market ended lower today. Sensex fell 98 points to 53,416 and Nifty ended 28 points lower at 15,938.Benchmark indices erased early gains to close lower on Wednesday on selling in oil and gas, banking and IT stocks amid weak trends in European markets. Sensex fell 372.46 points to close at 53,514 and Nifty declined 91.65 points to end below the 16,000 level at 15,966.

Here's a look at live market updates today.

3:34 pm: Sensex falls 98 points to 53,416 and Nifty ends 28 points lower at 15,938.

3:09 pm: Hindustan Zinc stock rises 6%

Shares of Hindustan Zinc rose 6 per cent to Rs 288 today after board of the firm approved an interim dividend of Rs 21 per equity share.

2:31 pm: IT shares top losers

BSE IT index falls 586 points to 26,978, top sectoral loser in the afternoon session.

 2:27 pm: Market update

Sensex falls 345 points to 53,168 and Nifty slips 95 points to 15,871 in the afternoon session.

1:20 pm: Three Adani Group stocks go ex-dividend today: All you need to know

Shares of three Adani Group firms (Adani Ports, Adani Enterprises, and Adani Total Gas) will go ex-dividend today. These companies have declared dividend in the range of 25 to 250 per cent of their face value in FY22. The combined market cap of the three firms going ex-dividend is Rs 7.06 lakh crore

Shareholders of Adani Ports will get the highest dividend of 250 percent of the face value of the stock. Here's a look at all three firms and how their stocks are performing on their ex-dividend date today.

12: 09 pm: Market update

Sensex rises 17 points to 53,531 and Nifty gains 8 points to 15,974 in the afternoon session.

9:50 am: Tata Metaliks stock slips 8% post Q1 earnings

Shares of Tata Metaliks slipped over 8 percent today after the firm reported a 98 per cent crash in Q1 net profit. Stock of Tata Metaliks fell 8.17 per cent intraday to Rs 645 against the previous close of Rs 702.35 on BSE. Tata Metaliks stock opened with a loss of 5.74 per cent at Rs 662 today. The share of Tata Steel's subsidiary was trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

9:36 am: Rupee hits record low

Indian rupee opened at fresh record low today. The domestic currency hit 79.73 per dollar in the opening trade against previous close of 79.63. At 9:34 am, the currency had lost 12 paise and was trading at 79.76 to the US dollar.

9:24 am: Top gainers

Sun Pharma, Titan , Dr Reddy's top Sensex gainers, rising up to 1.68 per cent.

9:22 am:  Market opens higher

Sensex rises 187 points to 53,701 and Nifty gains 55 points to 16,022. Benchmark indices erased early gains to close lower on Wednesday on selling in oil and gas, banking and IT stocks amid weak trends in European markets.

8:45 am: Prashanth Tapse, Vice President (Research), Mehta Equities

"Risk aversion is quite likely to be the preferred theme for the day and investors can expect a bumpy ride intra-day amid a steady fall in Asian indices and overnight fall in the US markets. The US CPI inflation numbers, which jumped to a 41-year high of 9.1% in June, certainly raises the prospects of a more hawkish stance by the US Fed in its next policy meet, which could further fuel volatility in equities & other asset classes. With FPI outflows showing no signs of a pullback, one could expect volatility in the currency markets too. On the technical front, markets may gain strength only if the Nifty  holds above 15851 mark with interweek perspective, while hurdle is seen at 16500."

8:34 am: Expert take

Rupak De, Senior Technical Analyst at LKP Securities

"Nifty has found resistance at the 50 EMA for the second consecutive session. On the daily chart, back-to-back bearish candles indicate near-term weakness. The RSI on the daily chart indicates a weak price momentum. On the lower end, the index may fall towards 15,850, where the lower band of the rising channel lies. On the higher end, resistance is visible at 16,200."

8:20 am: SGX Nifty

The Indian market is likely to open lower today as SGX Nifty fell 21 points to 15.951. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Wednesday
Benchmark indices erased early gains to close lower on Wednesday on selling in oil and gas, banking and IT stocks amid weak trends in European markets. Sensex fell 372.46 points to close at 53,514 and Nifty declined 91.65 points to end below the 16,000 level at 15,966.