Market Live Updates Today: Trends on SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 284 points.
image for illustrative purpose
The Sensex plunged 1,017 points, or 1.8 percent, to 54,303, while the Nifty corrected 276 points, or 1.7, percent to 16,202 and formed a bearish candle on the daily as well as weekly charts.
As per the pivot charts, the key support level for the Nifty is 16,141, followed by 16,081. If the index moves up, the key resistance levels to watch out for are 16,293 and 16,385.
US Markets
US stocks posted their biggest weekly percentage declines since January and ended sharply lower on Friday as a steeper-than-expected rise in US consumer prices in May fuelled fears of more aggressive interest rate hikes by the Federal Reserve.
Tech and growth stocks, whose valuations rely more heavily on future cash flows, led the decline. Microsoft Corp, Amazon.com Inc and Apple Inc drove losses in the S&P 500.
The Dow Jones Industrial Average fell 880 points, or 2.73 percent, to 31,392.79; the S&P 500 lost 116.96 points, or 2.91 percent, to 3,900.86; and the Nasdaq Composite dropped 414.20 points, or 3.52 percent, to 11,340.02.
Asian Markets
Shares in Asia slipped on Monday morning as investors look ahead to this week's major Chinese economic data releases as well as a closely watched interest rate decision by the US Federal Reserve.
The Nikkei 225 in Japan dropped 2.4% as shares of conglomerate SoftBank Group fell 4.58%. The Topix index shed 1.8%. South Korea's Kospi slipped 2%. MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.53% lower.
Live Updates
- 13 Jun 2022 9:00 AM IST
FII and DII data
Foreign institutional investors (FIIs) have net sold Rs 3,973.95 crore worth of shares, whereas domestic institutional investors (DIIs) remained net buyers to the tune of Rs 2,831.07 crore worth of shares on June 10, as per provisional data available on the NSE.
- 13 Jun 2022 8:59 AM IST
Forex reserves down by $306 million at $601.057 billion
After rising for two consecutive weeks, the country's foreign exchange reserves declined $306 million to $601.057 billion in the week ended June 3, according to RBI data. In the previous week, the reserves had increased $3.854 billion to $601.363 billion. It had risen by $4.23 billion to $597.509 billion in the week ended May 20.
During the week ended June 3, the decline in the reserves was on account of a fall in Foreign Currency Assets (FCA), a major component of the overall reserves. FCA declined by $208 million to $536.779 billion in the reporting week, according to the Weekly Statistical Supplement released by the Reserve Bank of India (RBI) on Friday.
- 13 Jun 2022 8:58 AM IST
Fed task gets tougher, putting 75 basis point hike back in view
Bad news on inflation hardened expectations the US Federal Reserve will keep raising interest rates in half-point steps through September, with talk of an even larger move mounting in the conversation.
Investors increased bets on a 75 basis point hike after data Friday showed consumer-price growth accelerating to a fresh 40-year high and a separate report in which expectations deteriorated, though Fed watchers generally doubt Chair Jerome Powell would take that step next week.
- 13 Jun 2022 8:57 AM IST
FPIs pull out Rs 14,000 crore from Indian equities in June on global, domestic concerns
Wary of the scenario on the global and domestic fronts, foreign investors continued to withdraw from Indian equity markets and pulled out close to Rs 14,000 crore in this month so far. With this, net outflow by foreign portfolio investors (FPIs) from equities reached Rs 1.81 lakh crore so far in 2022, data with depositories showed.
According to the data, foreign investors withdrew a net amount of Rs 13,888 crore from equities during June 1-10. FPIs have been incessantly withdrawing money from Indian equities since October 2021. Nair attributed the latest FPI outflow to anticipation of a hawkish Federal Reserve meeting.
- 13 Jun 2022 8:56 AM IST
Oil prices slide on Beijing COVID warning, inflation concerns
Oil prices slipped more than $2 on Monday as a flare-up in COVID-19 cases in Beijing quelled hopes for a rapid pick-up in China's fuel demand, while worries about global inflation and economic growth further depressed the market.
Brent crude futures fell $2.06, or 1.7%, to $119.95 a barrel by 0033 GMT while US West Texas Intermediate crude was at $118.54 a barrel, down $2.13, or 1.8%.
- 13 Jun 2022 8:55 AM IST
India's industrial growth hits 8-month high of 7.1% in April on favorable base
India's industrial growth, as per the Index of Industrial Production (IIP), quickened to 7.1 percent in April from 2.2 percent in March, data released on June 10 by the Ministry of Statistics and Programme Implementation showed.
At 7.1 percent, the April industrial growth rate is the highest in eight months, althouth it has been aided by a favourable base effect. The sharp up-tick in IIP growth comes after data released last month showed India's eight core sectors grew 8.4 percent in April, up from 4.9 percent in March.
With the eight core industries accounting for 40.3 percent of the total weight of IIP, IIP growth tracks the performance of these core sectors.
