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Wednesday, May 25, 2022

Market Highlights: Sensex falls 581 points, Nifty ends above 17,100-mark

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 57,276.94, down 581.21 points (1.00 per cent), while the Nifty 50 settled at 17,110.15, down 167.80 points (0.97 per cent).

By: Express Web Desk | New Delhi |
Updated: January 27, 2022 5:34:36 pm
investor wealthInvestors check the stock prices outside Bombay stock exchange in Dalal street. (File express photo by Nirmal Harindran)

Share/Stock Highlights: The topline equity indices on BSE and National Stock Exchange (NSE) trimmed most of their intraday losses and ended around 1 per cent lower on Thursday weighed by technology stocks amid weakness in the global market that declined as the US Federal Reserve’s signal to steadily tighten policy soured global investor sentiment.

The S&P BSE Sensex fell 581.21 points (1.00 per cent) to end at 57,276.94 while the broader Nifty 50 declined 167.80 points (0.97 per cent) to settle at 17,110.15. Both the indices had opened over 1 per cent lower and slipped nearly 2.5 per cent in the intraday trade with the Sensex hitting a low of 56,439.36 while the Nifty touched 16,866.75.

On the Sensex pack, HCL Technologies, Tech Mahindra, Dr. Reddy’s Laboratories, Wipro, Tata Consultancy Services (TCS) and Titan Company were the top losers of the day while Axis Bank, State Bank of India (SBI), Maruti Suzuki India, Kotak Mahindra Bank, Sun Pharmaceutical Industries and IndusInd Bank were the top gainers.

(with inputs from agencies)

Live Blog

Stocks, BSE Sensex, NSE Nifty, oil prices, gold, silver prices, commodity market and money markets live updates:

15:48 (IST)27 Jan 2022
Equity markets at close

The S&P BSE Sensex ended at 57,276.94, down 581.21 points or 1.00 per cent, while the Nifty 50 settled at 17,110.15, down 167.80 points or 0.97 per cent.

15:23 (IST)27 Jan 2022
ED arrests Karvy Group CMD and CFO in Rs 2,000 crore security scam

The Enforcement Directorate (ED) on Thursday informed that Karvy Group CMD Comandur Parthasarathy and CFO G Krishna Hari were produced before the PMLA Special Court MSJ Hyderabad on January 20, 2022, and the Court has remanded both the CMD and CFO to four days of ED custody from January 27-30, 2022. Click here to read

14:32 (IST)27 Jan 2022
PSU banks rally

The public sector banking stocks were up in the afternoon deals with the Nifty PSU Bank index on NSE rising over 4.5 per cent led by Canara Bank Union Bank of India.

Here's how the PSU banking stocks were performing:

Source: NSE
12:57 (IST)27 Jan 2022
Budget 2022 expectations: Here’s what corporates, economists and market experts expect

Amid concerns over the recent wave of the Omicron variant of the coronavirus (Covid-19) on India’s GDP growth, Finance Minister Nirmala Sitharaman is set to present her fourth Union Budget Tuesday, February 1, 2022. With just a few days left for the all-important event of the Indian financial calendar, various market experts, economists and financial experts have their eyes on the Budget session. We take a look at what India Inc and other experts in the market and economy expect from the upcoming Budget 2022. Click here to read

12:37 (IST)27 Jan 2022
Govt notifies Air India asset transfer agreement with AIAHL; stage set for AI handover to Tata Group

The government has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets, ahead of the national airline’s takeover by the Tata Group.

The government had in October last year, inked the share purchase agreement with the Tata Group for the sale of national carrier Air India for Rs 18,000 crore. Click here to read

11:15 (IST)27 Jan 2022
Tesla posts record profit, won’t produce new models in 2022

Tesla Inc. on Wednesday posted record fourth-quarter and full-year earnings as deliveries of its electric vehicles soared despite a global shortage of computer chips that has slowed the entire auto industry.

Although the company predicted it would be able to build 50 per cent more vehicles than it made last year, CEO Elon Musk said the chip shortage would stop the company from rolling out any new models in 2022. That means another delay for the Cybertruck pickup, which was originally scheduled to go on sale last year. Click here to read

10:45 (IST)27 Jan 2022
Explained: Understanding the potential impact of Fed rate hike on US and other economies

The US Federal Reserve is poised to hike interest rates in March as it reaffirmed plans to pull back the support it has provided the American economy since the start of the pandemic.

After the conclusion of a two-day Federal Open Market Committee meeting Wednesday, central bank chair Jerome Powell said such a move “will soon be appropriate” as he pledged a sustained onslaught to tame inflation. The US central bank is under pressure to tame runaway inflation as prices in the world’s largest economy have risen at their fastest rate in almost 40 years. Analysts expect a rate hike in March, which would be the first since 2018. Click here to read

10:42 (IST)27 Jan 2022
Rupee falls 41 paise to 75.19 against US dollar in early trade

The rupee declined 41 paise to 75.19 against the US dollar in opening trade on Thursday, tracking the strength of the American currency after hawkish US Fed policy stance.

Forex traders said muted domestic equities, sustained foreign fund outflows and firm crude oil prices also weighed on the local unit.

At the interbank foreign exchange, the rupee opened weak at 75.18 against the US dollar, then fell further to 75.19, registering a decline of 41 paise from the last close. On Tuesday, the rupee settled at 74.78 against the US dollar.

(PTI)

10:23 (IST)27 Jan 2022
AGS Transact Technologies IPO share allotment likely today: Here’s how to check your status online

The initial public offering (IPO) of payment solutions provider AGS Transact Technologies was subscribed 7.79 times over the 2.86 crore shares that were on offer during the subscription period from January 19-21, 2022.

Investors are now looking forward to the share allotment date of the AGS Transact Tech IPO. The company is supposed to finalise the allotment by Thursday, January 27, 2021, as per the timeline provided in the red herring prospectus (RHP). In case you have applied for the AGS Transact Technologies IPO, then here is how you can check the status of your allotment

10:15 (IST)27 Jan 2022
Adani Wilmar IPO opens today: Everything you need to know

The initial public offering (IPO) of edible oil manufacturer Adani Wilmar will open for subscription on today, January 27, 2022.

The Rs 3,600 crore Adani Wilmar IPO will be available for subscription till Monday, January 31, 2022, and the price band of the company has been fixed at Rs 218-230 per share. Click here to read

10:13 (IST)27 Jan 2022
Federal Reserve signals rate increase in March, citing inflation and strong job market

Federal Reserve officials signaled Wednesday that they were on track to raise interest rates in March, given that inflation has been running far above policymakers’ target and that labor market data suggests employees are in short supply.

Central bankers left rates unchanged at near-zero — where they have been set since March 2020 — but the statement after their two-day policy meeting laid the groundwork for higher borrowing costs “soon.” Fed Chair Jerome Powell said officials no longer thought America’s rapidly healing economy needed so much support, and he confirmed that a rate increase was likely at the central bank’s next meeting. Click here to read

10:03 (IST)27 Jan 2022
Global market update

Asian shares tumbled to their lowest in nearly 15 months, short-term U.S. yields rose to 23-month highs and the dollar strengthened on Thursday after the Federal Reserve's chairman signalled plans to steadily tighten policy.

At the same time, rising investor concerns over political tensions between Russia and Ukraine exacerbated worries over tight energy market supply, keeping oil prices elevated at multi-year highs despite some profit-taking.

Concerns that the Fed will increasingly prioritise fighting inflation walloped share markets. MSCI's broad gauge of regional markets outside Japan fell more than 2% on Thursday to its lowest level since Nov. 5, 2020.

Hong Kong's Hang Seng index and Australian shares fell more than 2% and Chinese blue-chips dropped to their lowest level since Sept. 30, 2020 as Refinitiv flows data pointed to heavy selling by foreign investors through the country's Stock Connect scheme.

In Tokyo, the Nikkei fell more than 2.5%, touching its lowest point since Nov. 26, 2020.

(Reuters)

09:54 (IST)27 Jan 2022
Equity market at open

The S&P BSE Sensex tanked 988.25 points to 56,869.90 in opening session, while the Nifty 50 on NSE tumbled 262.70 points to 17,015.25.

(PTI)

09:50 (IST)27 Jan 2022
Good morning!

Welcome to the markets live blog by Indian Express.

The Indian stock, commodity and money markets were shut on Wednesday, January 26, 2022, on account of Republic Day.

On Tuesday, the domestic stock markets snapped out of a five-day losing streak and staged an intra-day comeback. After plunging to a low of 56,409 at one stage, the S&P BSE Sensex rallied 1,448 points intra-day to close with a gain of 367 points (0.64 per cent) at 57,858.15 while the Nifty 50 rose 129 points (0.75 per cent) to 17,277.95 on bargain hunting.

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