sensex today: Live stock market updates: Sensex jumps over 500 points, Nifty nearly 17,000; Nykaa gains 5%, Axis Bank 3%
Global stocks made a partial comeback on Wednesday after Britain’s central bank launched an emergency bond-buying program to stabilize the bond market in a bid to allay investor fears of contagion to the entire financial system. [MKTS/GLOB]
On Wednesday, foreign institutional investors sold 27.72 billion Indian rupees ($340.5 million) worth of shares, while domestic investors bought 25.44 billion rupees worth of shares, preliminary data showed. available from the National Stock Exchange.
The Nifty Metals index rose 2.5%, while the auto index gained 1.4%
FSN E-Commerce Ventures, the parent company of Indian fashionable cosmetics retailer Nykaa, rose 4.3% after the company announced it would consider a free share issue.
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Stick with large-cap cos, like banks and defense: Sanjay Mookim
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Reorganization of the NSE index to bring in entries of up to $189 million
Adani Enterprises, BEL, Adani Total Gas, HAL, PowerGrid, IRCTC and Mphasis, among others, will see inflows of between $26 million and $189 million on September 30, when the NSE rebalances its key indices such as Nifty 50, Nifty Bank, and CPSE Index, according to Edelweiss Alternative & Quantitative Research.
FSN E-Commerce Ventures, which runs beauty and fashion e-commerce platform Nykaa, will consider issuing free shares on October 3.
Price as of Sep 29, 2022 09:30Click on company names for their live prices.
When negative sentiments become dominant, risk aversion escalates and markets become oversold. Then, usually, an unexpected trigger reverses the short-term outlook, leading to short coverage and a rally in the market. This is precisely what happened in global markets yesterday when the Bank of England surprised markets with quantitative easing. This desperate act by the BoE further reflects the economic difficulties of the United Kingdom. But the market’s interpretation of the BoE’s surprise move is that the Fed may hold off on its rate hike to avoid a sharp economic slowdown. The relief rally is likely to run out of steam soon and therefore investors do not need to aggressively buy now. The MPC is likely to raise rates by 50 basis points and could move to a neutral stance. But this is already discounted by the market and hence will have no impact on the market movement.
– Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Opening bell: Sensex jumps over 500 points, Nifty near 17,000; Nykaa gains 5%, Axis Bank 3%
Pre-open session: Sensex exceeds 150 points; Clever above 16,920
Asian stocks rebound but sterling slips after BoE bond purchases
Asian stock markets rose on Thursday after Britain’s central bank launched an emergency bond-buying program to stabilize a furious sell-off in gilts, although trading was skittish and the pound remained under pressure .
SGX Nifty reports positive start
Nifty futures on the Singapore Stock Exchange traded 175 points, or 1.04%, at 17,061.50, signaling Dalal Street was heading for a positive start on Thursday.
Tech View: Crafty bulls fail to hold 200-DMA.
The index formed a small bearish candle on the daily scale with a long upper shadow, indicating pressure in the higher areas.
Tokyo stocks open higher after US gains
Shares in Tokyo opened higher on Thursday, extending gains on Wall Street, where investors were reassured by intervention from the Bank of England that helped lower bond yields. The benchmark Nikkei 225 rose 0.85%, or 223.59 points, to 26,397.57, while the broader Topix index added 0.29%, or 5.30 points, to 1 860.45.
Wall Street ends sharply higher as Treasury yields fall
Wall Street ended sharply higher on Wednesday after its recent selloff, helped by falling Treasury yields, while Apple fell on concerns over demand for iPhones. The S&P 500 posted its first gain in seven sessions after closing Tuesday at its lowest since late 2020.
Oil prices fall amid strong dollar and economic worries
Oil prices fell early in Asian trading on Thursday as the strong dollar and economic difficulties outweighed optimism about consumer demand. Brent crude futures fell 59 cents, or 0.7%, to $88.73 a barrel at 0016 GMT, while US crude futures fell 54 cents, or 0, 7%, to $81.59. Both benchmarks have rebounded in the previous two sessions amid volatile trading after hitting nine-month lows this week.
Rupee crosses 82 against USD on currency outflows, pushing US yields higher
The rupee dipped below 82 for the first time in day trade before stabilizing 40 paise at 81.93 against the US dollar on Wednesday on strong currency outflows amid strengthening bond yields of the US Treasury.
Sensex, Nifty on Wednesday
Amid a sharp rise in US bond yields and the depreciation of the rupee, national benchmarks fell for the sixth day in a row on Wednesday, with the Sensex shedding 509 points to end at 56,598.28 while Nifty50 ended at 16,858, down 148.80 points.