Markets Live: Sensex sheds 109 points; Nifty closes at 10,593

Closing bell

The Sensex ended lower by 108.68 points or 0.31 per cent at 34,903.21 and the Nifty down by 35.35 points or 0.33 per cent at 10,593.15 ahead of RBI monetary policy decision tomorrow.

Investors wait to see whether the central bank will raise interest rates for the first time since January 2014 on Wednesday.

Sentiment was also hurt after a survey showed services activity in May shrank for the first time in three months as new orders stagnated.

Top five Sensex gainers were Reliance, Tata Steel, HDFC, Maruti and HDFC Bank, while the major losers were Coal India, Bharti Airtel, L&T, Dr Reddy's and YES Bank.

Barring oil & gas, all other BSE sectoral indices ended in the negative zone.

 

As per provisional data released to stock exchanges, domestic institutional investors had sold shares worth Rs 712.41 crore, while foreign portfolio investors bought equities to the tune of Rs 2,354.03 crore yesterday.

Global markets

 

MSCI's global tech index scored the milestone after the FAANGs -- Facebook, Apple, Amazon, Netflix and Google -- drove the technology-heavy Nasdaq to a new closing high in New York on Monday. Click here to read more

European markets

 

A record close for the Nasdaq overnight lifted European sector peers to a 17-year peak on Tuesday, helping the broader market in Europe stabilise after last week's sell-off triggered by political worries in Italy. Read more

Bullion prices

 

Gold prices softened by Rs 50 to Rs 31,600 per ten gram at the bullion market today. However, silver prices rose Rs 50 to Rs 40,500 per kg on scattered enquiries from industrial units and coin makers. Read more

Outperformance by MNC stocks

 

FMCG stocks have been giving robust returns in the last decade with their market capitalisation (₹1,000 crore and above) jumping seven-fold. This has been led by MNC stocks, which have done better than domestic FMCG companies, with market-cap jumping 6.5 times and six times, respectively. Click here to read more

'Deep discount broking is here to stay'

 

CJ George, Managing Director of Geojit Financial Services — the man with the Midas touch in the broking industry — advises retail investors to opt for a financial plan based on long-term mutual fund investing, rather than going for stock picking. Click here to read more

Benchmark indices were trading down by nearly 0.5 per cent as investors remained cautious ahead of the central bank's policy decision on Wednesday.

The Sensex was trading down 154.84 points or 0.44 per cent at 34,857.05 and the Nifty down 69.3 points or 0.65 per cent at 10,559.20.

Top five Sensex gainers were Reliance, IndusInd Bank, HDFC, HUL and Maruti, while the major losers were Bharti Airtel, Coal India, L&T, Wipro and YES Bank.

Among BSE sectoral indices, capital goods, infrastructure, healthcare and consumer durables succumbed to heavy selling pressure.

 

Investors wait to see whether the central bank will raise interest rates for the first time since January 2014 on Wednesday.

Sentiment was also hurt after a survey showed services activity in May shrank for the first time in three months as new orders stagnated.

“Services PMI data came in below 50, which means export-led industries will show some decelerating growth,” said Anita Gandhi, whole time director at Arihant Capital Markets Ltd.

SEBI amends 'Takeover Code'

 

Corporate insolvency resolution process in India will get a boost with SEBI now amending its ‘Takeover Code’ to remove capital infusion hurdles in companies with approved resolution plans under the Insolvency and Bankruptcy Code. Click here to read more

Mutual funds take a new avataar

 

Apart from the usual large, mid, small and multi-cap categories, SEBI’s scheme categorisation norms have brought in a new segment — large and mid-cap funds. These funds need to invest a minimum of 35 per cent of total assets in large-caps and a minimum of 35 per cent in mid-caps. Click here to read more

HUL to integrate food, refreshment division

 

Hindustan Unilever Ltd will be integrating its food and refreshment division with effect from July 1. It says that the integration will help the company increase its organisational agility and better serve local consumers while harnessing the advantage of global scale. Click here to read more

Bullion cues

 

The short-term outlook for the global spot gold ($1,293 per ounce) is bearish. The 200-day moving average resistance at $1,308 has capped the upside very well in the past week, and gold has reversed sharply lower after testing this hurdle. Click here to read more

How US import tariffs could hit India

 

The US has decided that Canada, Mexico and the European Union will no longer be exempt from import tariffs, and has slammed them with 25 and 10 per cent tariffs on imports of steel and aluminium, respectively, effective June 1.  The impact of this action on India cannot be disregarded. Click here to read more

Benchmark indices were headed for a third straight session of fall amid caution ahead of the central bank's policy decision on Wednesday.

The Sensex was trading down 96.75 points or 0.28 per cent at 34,915.14 and the Nifty down 36.55 points or 0.34 per cent at 10,591.95.

Top five Sensex gainers were Reliance, Sun Pharma, HUL, State Bank of India and Maruti, while the major losers were Bharti Airtel, YES Bank, L&T, Coal India and Adani Ports.

Barring oil & gas, all other BSE sectoral indices were trading in the red.

 

 

Investors wait to see whether the central bank will raise interest rates for the first time since January 2014 on Wednesday.

Sentiment was also hurt after a survey showed services activity in May shrank for the first time in three months as new orders stagnated.

“Services PMI data came in below 50, which means export-led industries will show some decelerating growth,” said Anita Gandhi, whole time director at Arihant Capital Markets Ltd.

Sugar stocks 'sweeten'

 

Sugar stocks rose up to 7 per cent today amid reports that the government is likely to announce a bailout package of over Rs 7,000 crore to ensure cash-starved mills clear dues to farmers at the earliest. Click here to read more

Nifty 50 June Futures (10,605)

 

Short-term traders with high risk appetite can go long at current levels. Stop-loss can be placed at 10,575 for the target of 10,670. Read more

 

KPIT Technologies

 

KPIT Technologies stock has risen more than 10 per cent in the last seven to eight days, as it delivered a strong 6.4 per cent sequential growth in revenues in dollar terms. More on this

US, a bitter pill for major pharma companies

 

Many Indian pharma majors have continued to show tepid earnings in the fourth quarter of 2017-18 — a trend that has persisted for six quarters in a row. Companies focused on the US market have been hit hard due to stringent actions by the US drug regulator FDA (Food and Drug Administration), coupled with the structural headwinds in the US market. Click here to read more

Petronet LNG

 

Petronet LNG is having a good run, delivering strongly for the second year in a row. After nearly doubling in 2016-17 to ₹1,723 crore, the company’s consolidated profit has grown nearly 23 per cent Y-o-Y in 2017-18 to ₹2,110 crore. Click here to read more

Pre-noon trade

Benchmark indices were trading marginally lower as traders remained cautious ahead of RBI policy announcement tomorrow.

The RBI’s Monetary Policy Committee began its three-day meeting yesterday amid speculation that it may hike the key interest rate for the first time in over four years on account of firming inflation.

Domestic sentiment was hit as Nikkei India Services Business Activity Index fell to 49.6 from 51.4 in April. This contraction is the first in three months.

The Sensex was down 29.15 points or 0.08 per cent at 34,982.74 and the Nifty down 9.95 points or 0.09 per cent at 10,618.55.

Top five Sensex gainers were Reliance, Maruti, State Bank of India, IndusInd Bank and Asian Paints, while the major losers were Bharti Airtel, PowerGrid, Coal India, L&T and YES Bank.

Barring oil & gas, all other BSE sectoral indices were trading in the red.

 

 

As per provisional data released by stock exchanges, domestic institutional investors had sold shares worth Rs 712.41 crore, while foreign portfolio investors bought shares worth Rs 2,354.03 crore yesterday.

RCom hits over 1-week low

 

Shares of Reliance Communications hit over 1-week low as the company had said on Monday that it would not pay interest on its non-convertible debentures, until its restructuring process is completed. Click here to read more

Services PMI falls to 3-month low

 

Services sector witnessed a slowdown in May as the Nikkei India Services Business Activity Index fell to 49.6 from 51.4 in April. This contraction is the first in three months. Click here to read more

Biocon hits record high

 

Shares of Biocon Ltd jumped as much as 6.4 per cent to a record high of Rs 696.60 as the company's partner Mylan N.V. has received approval for its first biosimilar of cancer medicine pegfilgrastim from the US drug regulator for selling in the American market. Read more

Currency call

 

The Indian rupee extended its rally against the US dollar for the second consecutive week but turned volatile ahead of the Reserve Bank of India’s monetary policy meeting this week.  Click here to read more

Rupee weakens to 67.23

 

The rupee weakened by 12 paise to 67.23 against the US dollar as investors remained cautious ahead of RBI policy decision tomorrow. Click here to read more

Asian markets

 

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1 per cent after surging 1.4 per cent the previous day. Japan's Nikkei gained 0.2 per cent and South Korea's KOSPI lost 0.15 per cent. Read more

Bank Nifty options

 

Bank Nifty fell sharply on Monday ahead of the RBI policy announcement tomorrow. Banking stocks turned bearish as traders expect a rate hike. Click here to read more

The Sensex was trading down by nearly 100 points as investors remained cautious ahead of RBI policy announcement tomorrow.

The RBI’s Monetary Policy Committee began its three-day meeting yesterday amid speculation that it may hike the key interest rate for the first time in over four years on account of firming inflation.

The BSE index was down 95.46 points or 0.27 per cent at 34,916.43 and the NSE index down 37.65 points or 0.35 per cent at 10,590.85.

Sensex gainers, losers

Barring FMCG, all other BSE sectoral indices were trading in the negative zone.

 

 

What to watch

 

The board of Quess Corp, Thomas Cook’s Indian arm, has approved the acquisition of an additional 8 per cent equity in Simpliance Technologies Pvt Ltd. Click here to read more

 

Indiabulls Real Estate buyback window

 

The six-month window for the ₹624-crore buyback by Indiabulls Real Estate, opens today. The buyback would be made from the open market. Click here to read more

ADF Foods to consider buyback

 

The board of directors of ADF Foods will meet today to consider a buyback proposal. Shareholders would be keen to know the issue size, number of shares, price and the process of the buyback. More on this

RITES IPO

 

The initial public offering of RITES is likely to hit the market between June 20 and 22. About 12 per cent shares of the Railways’ subsidiary will be offered for sale. Read more

Today's stock pick

 

 NBCC (I) (₹86.2): Sell

Traders with a short-term perspective can go short at current levels and also accumulate on rallies at ₹89. Stop-loss can be placed at ₹92 for a target of ₹74.  Click here to read more

Opening bell

The Sensex opened lower by 50.66 points or 0.14 per cent at 34,961.23 and the Nifty down 7.85 points or 0.07 per cent at 10,620.65.

Pre-open trade

The 30-share BSE index Sensex was up 17.56 points or 0.05 per cent at 35,029.45 and the 50-share NSE index Nifty up 2.2 points or 0.02 per cent at 10,630.70.

Day Trading Guide

Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:

₹2046 • HDFC Bank

 

₹1240 • Infosys

 

₹268 • ITC

 

Click here to view the full guide