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Wednesday, May 25, 2022

Market Highlights: Indices erase day’s gains, end a tad lower, Sensex slips 77 points

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 57,200.23, down 76.71 points (0.13 per cent), while the Nifty 50 settled at 17,101.95, down 8.20 points (0.05 per cent).

By: Express Web Desk | New Delhi |
Updated: January 28, 2022 4:23:42 pm
stock market, bse sensex, share marketBSE in Mumbai. (Express photo by Ganesh Shirsekar)

Share/Stock Highlights: The benchmark equity indices on BSE and National Stock Exchange (NSE) erased their day’s gains and ended with marginal losses on Friday big private banks.

The S&P BSE Sensex slipped 76.71 points (0.13 per cent) to end at 57,200.23 while the Nifty 50 dipped 8.20 points (0.05 per cent) to settle at 17,101.95. Both the indices had opened around 1 per cent higher earlier in the day and traded in the green for the bulk of session before giving it up and slipping in the red in late afternoon trade.

On the Sensex pack, Maruti Suzuki India was the top loser of the day slipping 3 per cent followed by Tech Mahindra, Power Grid Corporation of India, ICICI Bank, Axis Bank and State Bank of India (SBI). On the other hand, NTPC, Sun Pharmaceutical Industries, IndusInd Bank, Mahindra and Mahindra (M&M), Wipro and ITC 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:

16:23 (IST)28 Jan 2022
MARKET QUOTE | Vinod Nair, Head of Research at Geojit Financial Services

"After the decent opening post yesterday’s weak closing, domestic bourses again staged a quick sell-off, tracking weak European trend. Policy tightening by the US Fed and rising geopolitical tensions in Ukraine coloured global sentiments. The broad market ended mixed considering IT, realty and Mid & Smallcaps reboundes after continuous heavy-selling this week."

15:43 (IST)28 Jan 2022
Equity markets at close

The S&P BSE Sensex ended at 57,200.23, down 76.71 points or 0.13 per cent, while the Nifty 50 settled at 17,101.95, down 8.20 points or 0.05 per cent.

10:55 (IST)28 Jan 2022
Explained: Fed move and Indian markets

On Wednesday, the US Federal Reserve announced the final round of its asset purchases. It will thus conclude its balance sheet expansion in March, much ahead of its initial plan. The Fed will subsequently start to increase interest rates in the economy beginning March. Both these measures are aimed at taming inflation, currently at a four-decade high of around 7%. Click here to read

10:49 (IST)28 Jan 2022
Rupee up 4 paise at 75.05 against US dollar

The Indian rupee eked out a marginal 4 paise gain at 75.05 against the US dollar in morning trade on Friday, tracking positive opening in domestic equity markets. However, strong American currency and elevated crude oil price level restricted the rupee's further recovery.

Forex traders said geopolitical tensions, sustained foreign fund outflows and hawkish US Fed stance dragged down the local unit, while positive domestic equities supported the local unit in opening deals.

At the interbank foreign exchange, the rupee opened at 75.12 against the US dollar and slipped further to 75.13, before staging a mild recovery to trade at 75.05, clocking a gain of 4 paise. On Thursday, the rupee had settled at 75.09 against the US dollar.


10:47 (IST)28 Jan 2022
SoftBank confirms that COO Marcelo Claure will depart

SoftBank Group Corp. said Chief Operating Officer Marcelo Claure is leaving the company, putting an end to a tumultuous tenure capped by a clash over compensation with founder Masayoshi Son.

Michel Combes will take over Claure’s responsibility for SoftBank Group International and oversee SBGI’s operating and investment portfolio, the company said in a statement. Click here to read

10:08 (IST)28 Jan 2022
Google to invest up to $1 billion in Bharti Airtel

Alphabet Inc’s Google will invest up to $1 billion in Bharti Airtel in a move that could help bolster the Indian telecom operator’s digital offerings, the companies said on Friday.

The investment includes a $700 million equity investment in Airtel at a price of 734 rupees ($9.77) per share and up to $300 million towards implementing commercial agreements, including investments in scaling Airtel’s offerings, the companies said. Click here to read

09:56 (IST)28 Jan 2022
Explained: The surge in oil prices amid Russia-Ukraine conflict and its impact on Budget, inflation

Rising tensions between Russia and Ukraine are leading to a surge in oil prices, with Brent breaching the $90-a-barrel mark overnight on Thursday — the first time since 2014.

Some analysts predict oil prices to hit the $100-110-mark per barrel in the near future as prospects of supply disruptions and rising demand support prices. Rates have surged sharply from a low of $65.88 on December 2, 2021, and if the prices continue to rise, it will put a lot of pressure on both the Central and state governments to review taxes. The spike also impacts assumptions on the key metric that goes into Budget formulation. Click here to read

09:47 (IST)28 Jan 2022
Global market update

Asian stocks recovered some of their steep losses from the previous session on Friday after US markets limited further declines from hawkish US Fed comments, supported by a firm economy and strong earnings at Apple Inc.

US stock futures rose in Asia with Nasdaq 100 e-minis up 1.2% and S&P 500 e-minis up 0.8% after Apple on Thursday reported record sales in the holiday quarter, beating estimates. Apple shares rose over 5% in after-hours trading. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2% after sliding 2.26% on Thursday. The index is still down 5.1% so far this month.

Australian shares were up 1.16%, while Japan's Nikkei stock index rose 1.49%. Elsewhere in Asia, China equities rose on Friday with China's blue-chip CSI300 index 0.24% higher. Hong Kong's Hang Seng index was down 0.41%.


09:43 (IST)28 Jan 2022
Equity market at open

The Sensex rebounds 543.46 points to trade at 57,820.40 in opening deals; Nifty up 154.30 points at 17,264.45.


09:42 (IST)28 Jan 2022
Good morning!

Welcome to the markets live blog by Indian Express.

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.

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