Sensex Today Live: Automaker Mahindra and Mahindra led a 1% jump in Indian shares on Monday after reporting positive quarterly results, while the market also benefited from an improvement in the global mood on news that Shanghai would ease COVID-19 curbs. Nifty’s IT sub-index built on the previous session’s rally with a 2.6% jump on Monday.
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Nifty50 on Monday formed a solid bullish candle on the daily chart, after signalling a reversal in the previous week. In the process, the index has breached a sticky consolidation range of 15,700-16,400 on the upside. Analysts said levels around 17,000 are on the cards and that the 16,400 level would now act as immediate support for the index.
#EarningsWithETNOW | LIC Q4 PAT at Rs 2,370 cr: Agencies Net Premium Income at Rs 1.44 lk cr: Agencies #LICQ4… https://t.co/AumB6zprUG
— ET NOW (@ETNOWlive) 1653909920000
Markets have regained some strength citing the less hawkish tone of the US Fed in the recently released meeting minutes. On the domestic front, the early onset of monsoon has further lifted sentiments. Going forward, with earnings season largely behind us, upcoming macroeconomic data i.e. GDP numbers and PMI data and auto sales will be in focus for cues. Amid all, we reiterate our positive view and suggest maintaining “buy on dips” till the Nifty holds 16,300.
– Ajit Mishra, VP – Research, Religare Broking
Jindal Saw Q4 earnings
#EarningsWithETNOW | @Jindal_SAW Q4 – Cons revenue at Rs 3,970 cr vs Rs 3,784 cr YoY – Cons PAT at Rs 127 cr vs Rs… https://t.co/YZgTasPurR
— ET NOW (@ETNOWlive) 1653909321000
Bond yields at 1-week high tracking uptick in global crude prices
India’s benchmark 10-year bond yield rose to its highest level in a week on Monday as a rally in global crude oil prices to nearly $120 a barrel added to concerns over imported inflation. India’s benchmark 10-year bond yield ended trading at 7.41%, its highest level May 23. Oil prices hit their highest level in more than two months, as traders waited to see whether a planned European Union meeting would reach an agreement on banning Russian oil imports.
Market view: Vinod Nair, Head Of Research at Geojit Financial Services
A near term trend reversal is visible in the domestic market, supported by valuation comfort and positive trend in the global counterparts. US Stocks were boosted on softening inflation worries which will be a crucial factor in deciding the tone of the upcoming Fed policy meeting. The easing of long-running lockdown in China also helped in lifting the sentiments across Asian markets. The market is expected to have a positive run in the near term; however, the impact of central bank policies will be a key factor to be monitored.
Nifty has cleared the consolidation zone on the daily chart as it closed with a breakaway gap on the daily chart. On the higher end, however, it found resistance at 16700 before closing a bit lower. The trend remains positive till the Nifty sustains above 16400. On the higher end, a decisive move above 16700 may induce a rally towards 17200.
– Rupak De, Senior Technical Analyst at LKP Securities
Market Stats: Advance-decline ratio at 2:1
Sector Watch: All indices closed in the green
Closing Bell: Sensex takes winning run to 3rd day, rallies 1,041 pts; Nifty tops 16,650; M&M jumps 5%, Voda Idea 4%
Consultation paper on crypto almost ready; to be submitted soon: DEA Secy
Economic Affairs Secretary Ajay Seth on Monday said a consultation paper on cryptocurrencies has been finalised and it will be submitted soon. A lot of consultation has been done from both domestic and other participants, Seth said on the sidelines of an event organised by the Finance Ministry. He also said that a global response is needed to deal with the challenges posed by crypto.
Continuous research is must: Gurmeet Chadha
If u have a direct stock portfolio ,try to attend 6-7 earnings call of your large holdings every quarter Personal… https://t.co/kofMoEJtd8
— Gurmeet Chadha (@connectgurmeet) 1653878978000
I want to remind you that Nykaa share price is up from IPO price even today. It is the listing pop from where some amount of share price decline has happened but Nykaa continues to be in positive territory even from an IPO price. As far as investment for the future is concerned, I am a big believer that every company must invest for the future and coming out of Covid, it is the time to push the pedal on investments. So be it our warehouses, be it our stores, we are rolling out more stores than we did during the previous year as well as new customer acquisition that I just spelt out.
– Falguni Nayar, Founder & CEO, Nykaa
Q4 EARNINGS: NATCO PHARMA
- Loss: Rs 51 cr vs profit of Rs 53 cr YoY
- Sales: Rs 595 cr vs Rs 331 cr YoY
- Expenses: Rs 660 cr vs Rs 289 cr YoY
Ian Cassel on how to turn a successful investor
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buyin… https://t.co/4bYAEKUhVJ
— Ian Cassel (@iancassel) 1653858211000
Stocks that hit 52-week high today!
Price as on 30 May, 2022 02:56 PM, Click on company names for their live prices.
Market LIVE Updates: India VIX eases over 5% to 20 level
European shares rise as China stimulus adds to optimism
European shares scaled over three-week highs on Monday as new stimulus in China helped carry on last week’s optimism, while investors looked for more economic data this week, including German inflation. Authorities in China’s commercial hub of Shanghai will cancel many conditions for businesses to resume work from Wednesday, easing a city-wide COVID-19 lockdown. Shanghai officials have also announced an action plan to boost the economy, keeping up hopes of growth and demand from the world’s second largest economy. The pan-European STOXX 600 index rose 0.6% with broad-based gains led by technology stocks.
BSE Realty index surges over 3.5%; barring IB Realty all constituents trade firm
PayMate India files IPO papers with Sebi to raise Rs 1,500 crore
Leading B2B payments and services provider PayMate India has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,500 crore through an initial public offering (IPO). The initial share-sale comprises fresh issue of equity shares worth Rs 1,125 crore and Offer-for-sale (OFS) of Rs 375 crore by promoters, investors and other shareholders, according to the draft red herring prospectus (DRHP).
Market LIVE Updates: Infrastructure major Larsen and Toubro (L&T) on Monday said it has received another significant contract order for Chennai Metro Rail Project. According to the company’s project classification, the value of a significant order ranges between Rs 1,000 crore to Rs 2,500 crore; stock up 3%
Price as on 30 May, 2022 12:32 PM, Click on company names for their live prices.
M&M management post Q4 earnings
#EarningsWithETNOW | "Will pass on commodity cost inflation to customers as and when required. Will be investing in… https://t.co/YCRupGUCbl
— ET NOW (@ETNOWlive) 1653892159000
IT pack lead sectoral gainer; check out the top performers from the pack
Price as on 30 May, 2022 11:43 AM, Click on company names for their live prices.
- Wall Street gains
- Easing US inflation worries
- China reopening
- Buying in heavyweights
- Rupee strengthening
- Valuation comfort
Market LIVE Updates: BSE Smallcap index rallies over 2%, beats benchmark Sensex
Shriram Properties rallies 13% as firm returns to black in March quarter
Shares of Shriram Properties zoomed about 13 per cent during the early trade on Monday after the company returned to the black in the March 2022 quarter. The recently-listed real estate firm reported a consolidated net profit of Rs 64.4 crore for the quarter ended March. Its net loss stood at Rs 3.15 crore in the year-ago period. Following the announcement of earnings, shares of Shriram Properties zoomed 13 per cent to Rs 72, before trading at Rs 66.75 at 10.10 am. The scrip settled at Rs 63.90 on Friday.
I would say, at the moment, the US economy is actually in pretty good shape. The consumer is still in very good shape. If you look at metrics such as consumer credit, the US economy overall is healthy. There are, however, definitely some troubling signs. Definitely, tightening monetary conditions are taking asset prices down, which has an effect on how people feel about their wealth and that should start affecting spending habits moving forward, but we haven’t seen it yet. So, it’s very, very hard to predict or be sure of anything. I don’t think there’s enough data (yet).
– Goldman Sachs CEO David Solomon
Market LIVE Updates: Tata Motors shares rally nearly 3% after the company said it has signed an MoU for potential acquisition of Ford India’s Sanand plant
Price as on 30 May, 2022 10:20 AM, Click on company names for their live prices.
When the market is in a correction phase or trying to find a potential bottom before the rally starts, investors should not do bottom fishing because a falling knife is always dangerous.
– Mayuresh Joshi, Head of Research – Equity, William O’Neil India
Rupee surges 12 paise to 77.46 against US dollar in early trade
The rupee appreciated 12 paise to 77.46 against the US dollar in opening trade on Monday, supported by a fall in the dollar index and positive domestic equities. At the interbank foreign exchange, the rupee opened at 77.53 against the American dollar, then gained further ground to quote 77.46, registering a rise of 12 paise from the last close. On Friday, the rupee had settled at 77.58 against the US dollar.
Sensex today LIVE: Index extends rally, up over 900 points
Ethos: Pre-open listing
- BSE: Rs 830 (5% down)
- NSE: Rs 825 (6% down)
The market is set for a near-term rally. The sharp upswing in Nasdaq & S&P 500 late last week indicates near-term trend reversal. The decline in dollar index and the US 10-year bond yields, too, are positives for risk particularly in emerging markets. The beaten down IT segment is likely to stage a good comeback assisted by short-covering. Financials, particularly the leading banks, have more room to go up assisted by delivery based investment buying. However, Brent crude at $ 120 is a major macro headwind.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Future Consumer, Vodafone Idea, Adani Power among most active stocks on NSE
Price as on 30 May, 2022 09:27 AM, Click on company names for their live prices.
Sensex today LIVE: IT stocks lead gainers in early morning trade
Sector Watch: Barring Nifty Metal, all indices on NSE trade in the green
OPENING BELL: Sensex surges 650 points, Nifty tops 16,500; Zomato, Infosys rise 3% each
FOREX UPDATE: Rupee opens at 77.52/$ vs Friday’s close of 77.56/$
Oil climbs ahead of EU meeting on Russia sanctions
Oil prices rose to two-month highs on Monday as traders waited to see if the European Union would reach an agreement on banning Russian oil ahead of a meeting on a sixth package of sanctions against Moscow for its invasion of Ukraine. Brent crude futures gained 46 cents, or 0.4%, to $119.89 a barrel at 0111 GMT, while U.S. West Texas Intermediate (WTI) crude futures jumped 60 cents, or 0.5%, to $115.67 a barrel, extending solid gains from last week.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 123 points, or 0.75 per cent, higher at 16,460, signaling that Dalal Street was headed for a positive start on Monday.
Tech View: Nifty breaches 20-day SMA, faces hurdle at 16,400
Nifty50 on Friday breached its 20-day simple moving average (SMA) and settled above the 16,350 level and formed a bullish candle on the daily chart and a ‘Hammer’ candle on the weekly chart, hinting at a reversal ahead. Analysts said a close above 16,400, the upper end of the ongoing consolidation range, can open up doors for an upside toward the 16,750 level. Downside supports are seen at 15,900 and 15,700 levels.
Hong Kong, mainland shares start with healthy gains
Hong Kong and mainland Chinese stocks opened higher Monday, in line with gains across Asia and following another rally on Wall Street, with confidence boosted by an easing of long-running Covid curbs in Shanghai. The Hang Seng Index added 1.14 percent, or 236.14 points, to 20,933.50. The Shanghai Composite Index edged up 0.37 percent, or 11.72 points, to 3,141.96, while the Shenzhen Composite Index on China’s second exchange gained 0.49 percent, or 9.66 points, to 1,964.69.
Tokyo stocks open higher tracking US gains
Tokyo stocks opened higher on Monday, extending gains on Wall Street, with investors shifting their focus to global economic indicators due this week. The benchmark Nikkei 225 index was up 1.21 percent, or 323.48 points, at 27,105.16 in early trade, while the broader Topix index was up 1.01 percent, or 19.03 points, at 1,906.33.
US stocks rally, treasury yields fall on inflation data
US stocks enjoyed a broad-based rally on Friday, while the yield on benchmark US Treasuries fell after data showed that U.S. consumer spending rose in April and the uptick in inflation slowed, two signs the world’s largest economy could be on track to grow this quarter. The Dow Jones Industrial Average rose 575.77 points, or 1.76%, to 33,212.96, the S&P 500 gained 100.4 points, or 2.47%, to 4,158.24 and the Nasdaq Composite added 390.48 points, or 3.33%, to 12,131.13.
Rupee inches 3 paise higher to 77.58 against dollar
The rupee inched 3 paise higher to close at 77.58 against US dollar on Friday, supported by positive domestic equities and weakness of the American currency overseas. Forex traders said the rupee consolidated in a narrow range as elevated crude oil prices, fiscal deficit concerns and persistent FII outflows weighed on the local unit. At the interbank forex market, the rupee opened at 77.60 against the greenback and moved in a range of 77.57 to 77.67 in the day’s trade.
Sensex, Nifty on Friday
The Indian stock markets’ key indices, Sensex and Nifty, rallied by more than one per cent on Friday, led by strong buying support in IT, banking and capital goods stocks. The 30 stock S&P BSE Sensex surged 632.13 points or 1.17 per cent to close at 54,884.66 points against its previous day’s close at 54,252.53 points. The broader Nifty 50 of the National Stock Exchange closed 182.30 points or 1.13 per cent higher at 16,352.45 points against its previous session’s close at 16,170.15 points.