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Closing bell
The Sensex ended lower by 215 points as investors stayed cautious in view of the RBI’s monetary policy meeting that began today. The Reserve Bank of India is getting poised to raise interest rates for the first time since January 2014, analysts say, adding that the question is whether this will happen on Wednesday or in August.
The Sensex opened higher at 35,503.24 on across-the-board gains amid positive global cues and hit intraday high of 35,555.59.However, it soon slipped into the negative zone on massive selling in realty, power, consumer durables and bank stocks.
It finally ended at 35,011.89, down 215.37 points or 0.61 per cent.
The Nifty too ended lower by 67.70 points, or 0.63 per cent, at 10,628.50, after hovering between 10,770.30 and 10,618.35.
Top five Sensex gainers were Dr Reddy's, Infosys, M&M, Tata Steel, and Reliance, while the major losers were HDFC Bank, Bharti Airtel, Adani Ports, PowerGrid and HUL.
Meanwhile, foreign portfolio investors had offloaded shares worth Rs 202.80 crore, while domestic institutional investors bought equities to the tune of Rs 337.97 crore on Friday.
Bullion prices
Reversing a three-day falling streak, gold prices rose Rs 50 to Rs 31,650 per 10 grams at the bullion market on emergence of buying by local jewellers amid positive global cues. More on this
MCX-Aluminium
Aluminium futures contract on the Multi Commodity Exchange is showing signs of strength. The contract was stuck in a narrow range between ₹152 and ₹155 per kg for most part of last week. However, it has risen breaking above ₹155 on Friday and is continuing to sustain above this level. Click here to read more
The Sensex was trading lower by 208.62 points or 0.59 per cent at 35,018.64 and the Nifty down 66.4 points or 0.62 per cent at 10,630.20.
Gold prices remain steady
Spot gold was nearly unchanged at $1,293.06 per ounce by 0111 GMT. US gold futures for August delivery were down 0.2 per cent at $1,297.10 per ounce. Read more
Forex market
The euro rose as much as half a per cent to $1.1714, pulling further away from 2018 lows of $1.151 plumbed last week. ING analysts say the worst seemed to be over for the euro, at least in the near term. More on this
Pre-close trade
The Sensex was trading lower by 151.32 points or 0.43 per cent at 35,075.94 and the Nifty down 51.5 points or 0.48 per cent at 10,644.70.
Investors turned wary ahead of RBI’s second bi-monthly monetary policy meeting of 2018-19, being held from June 4-6. Also, investors preferred to stay on the sidelines ahead of services PMI data to be released by Markit Economics on Tuesday.
Top five Sensex gainers were Dr Reddy's, M&M, Tata Steel, Reliance and Infosys, while the major losers were HDFC Bank, Bharti Airtel, PowerGrid, Asian Paints and State Bank of India.
Realty, power, consumer durables and infrastructure stocks succumbed to heavy selling pressure.
Bond yields jump to 2-week high
India's 10-year benchmark bond yield rose to its highest in two weeks to 7.90 per cent, after local news agency NewsRise reported citing a senior Finance Ministry official that the central bank might have to raise interest rates to keep the inflation in check. Read more
Crude oil holds steady
Market eyes possible move by OPEC to boost world supplies. File Photo
Brent crude oil was unchanged at $76.79 a barrel by 0730 GMT. US light crude was up 5 cents at 65.86 a barrel. Last week, the US contract lost around 3 percent, adding to a near 5-per cent decline from a week before. More on this
Monetary policy may hike repo rate
DBS Research expects the six-member Monetary Policy Committee to sound hawkish and pre-emptively hike the repo rate by 25 basis points on June 6. Click here to read more
Repo rate hike
A view of the RBI headquarters in Mumbai.
The Reserve Bank of India is getting poised to raise interest rates for the first time since January 2014, analysts say, the question is whether this will happen on Wednesday or in August. Click here to read more
The Sensex was trading down by nearly 100 points on heavy selling in realty, consumer durables and power stocks amid firm global cues.
Investors turned wary ahead of RBI’s second bi-monthly monetary policy meeting of 2018-19, being held from June 4-6. Also, investors preferred to stay on the sidelines ahead of services PMI data to be released by Markit Economics on Tuesday.
The Sensex was down 87.99 points or 0.25 per cent at 35,139.27 and the Nifty down 31.7 points or 0.3 per cent at 10,664.50.
Top five Sensex gainers were Dr Reddy's, Tata Steel, M&M, YES Bank and Reliance, while the major losers were Asian Paints, HDFC Bank, Bharti Airtel, HUL, and Kotak Bank.
Domestic investors were also keeping an eye on global market trend, investment by foreign portfolio investors and domestic institutional investors, the movement of the rupee against the dollar and crude oil price movement.
Take a call on YES Bank
The bullish outlook will remain intact for YES Bank ( ₹339.95) as long as it stays above ₹308. The stock finds a major support at ₹287, and only a close below it would trigger a fresh fall in the stock. Click here to read more
Mixed signals from Nifty IT index
The Nifty IT index fell 0.8 per cent on Friday along with other sectoral indices. With this fall, the index declined 203 points or 1.5 per cent last week. It has been in an intermediate-term uptrend since taking support in the 9,300-9,400 band in November 2016. Click here to read more
Nifty 50 June Futures (10,665)
Traders with a short-term perspective can make use of rallies and go short at 10,685. Stop-loss can be placed at 10,710 for the target of 10,640. Click here to read more
Benchmark indices erased their early gains and were trading marginally higher due to heavy selling in realty, consumer durables and power stocks amid firm global cues.
Investors turned wary ahead of RBI’s second bi-monthly monetary policy meeting of 2018-19, being held from June 4-6. Also, investors preferred to stay on the sidelines ahead of services PMI data to be released by Markit Economics on Tuesday.
The BSE index was trading up 58.85 points or 0.17 per cent at 35,286.11 and the NSE index up 6.6 points or 0.06 per cent at 10,702.80. The Sensex hit intraday high of 35,555.59 and the Nifty hit 10,765.95.
Top five Sensex gainers were Dr Reddy's, YES Bank, Tata Steel, M&M and Tata Motors, while the major losers were Asian Paints, PowerGrid, Adani Ports, HDFC Bank and HUL.
HDFC Bank plunges 2.5%
HDFC Bank, the largest bank by market capitalisation, posted sharpest intraday drop in 6 weeks, and technicals suggested the end of uptrend. Click here to read more
Bank of Baroda slumps over 4%
Shares of Bank of Baroda fell as much as 4.1 per cent to Rs 131.35, in their sharpest intraday fall since May 16, as the government is considering the merger of at least four state-run banks. Click here to read more
Weekly trading guide
SBI (₹266.7)
Short-term traders can wait for dips and go long at ₹262 and accumulate at ₹259. Stop-loss can be placed at ₹249 for the target of ₹283. Revise the stop-loss higher to ₹267 as soon as the share moves up to ₹271.
ITC (₹269.7)
The level of ₹250 is a strong medium-term support and an immediate break below it is less probable. Investors can hold their long positions and can accumulate on dips near ₹255. Retain the stop-loss at ₹220.
Infosys (₹1,220.2)
The near-term view will turn negative only if the stock breaks below ₹1,195. Such a break can take Infosys lower to ₹1,180 or ₹1,170 initially. A break below ₹1,170can drag it to ₹1,160 or ₹1,150 thereafter.
RIL (₹929.2)
Short-term traders with high risk appetite can make use of dips and go long at ₹915 and accumulate at ₹905. Stop-loss can be placed at ₹880 for a target of ₹985.
Click here to view the full guide
Index Outlook
The second bi-monthly monetary policy statement for 2018-19 is scheduled on June 6. The RBI’s rate call will dictate the direction of the Sensex and the Nifty this week. Click here to read more
Deep Industries slumps to near 3-year-low
Shares of Deep Industries Ltd slumped as much as 19.8 per cent to Rs 107.15, its lowest since July 17, 2015, as the company has been brought under CBI radar. More on this
Dr Reddy's Labs jumps 3.5%
Shares of Dr Reddy's Laboratories witnessed the best day since May 22, as the USFDA audit of the company's API Srikakulam plant located in Andhra Pradesh has been completed with no observations. Read more
The Sensex slipped from the day's high of 35,555.59 due to heavy selling in realty, consumer durables, power and banking stocks amid positive global cues.
The BSE index was down 6.43 points or 0.02 per cent at 35,220.83 and the NSE index down 8.4 points or 0.08 per cent at 10,687.80.
Top five Sensex gainers were Dr Reddy's, YES Bank, M&M, Tata Motors and Infosys, while the major losers were Asian Paints, HUL, Adani Ports, HDFC Bank and PowerGrid.
Investors turned wary ahead of RBI’s second bi-monthly monetary policy meeting of 2018-19, being held from June 4-6. Also, investors stayed on the sidelines ahead of services PMI to be released by Markit Economics on Tuesday.
Global market trend, investment by foreign portfolio investors and domestic institutional investors, the movement of the rupee against the dollar and crude oil price movement will also remain on investors' radar.
FPI outflows hit 18-month high
Foreign investors pulled out a massive Rs 29,714 crore from the capital markets in May, making it the biggest outflow in 18 months, primarily due to a surge in global crude oil prices. Click here to read more
M-cap of top-10 Sensex cos
The combined market valuation of six of the 10 most valued companies rose by Rs 50,248.15 crore last week, with HDFC Bank emerging as the biggest gainer. Click here to read more
Om Metals Infraprojects
Om Metals Infraprojects, in joint venture with Patel Engineering, has bagged a contract worth about ₹92 crore (company’s share) on upstream power house pertaining to Phase 1 of the Kundah Pump Storage Hydro Electric project (1x125 MW) in Nilgiri District from TANGEDCO. The company shares were trading flat at Rs 42.70 on the BSE. Read more
Shree Renuka Sugars
The open offer to the shareholders of Shree Renuka Sugars from Wilmar Sugar Holdings Pte Ltd and Wilmar International will open on Monday and close on June 15. More on this
The Sensex slipped from the day's high of 35,555.59 due to heavy selling in realty, consumer durables, power and infrastructure stocks amid positive global cues.
Investors turned wary ahead of RBI’s second bi-monthly monetary policy meeting of 2018-19, being held from June 4-6.
The Reserve Bank of India is likely to keep its policy repo rate on hold, awaiting more clarity on the out-turn of monsoon, the impact of revisions in the minimum support prices for kharif crops, volatility in oil prices on inflation, and the possibility of fiscal slippage.
Also, services sector PMI to be released by Markit Economics on Tuesday kept investors on the sidelines.
Global market trend, investment by foreign portfolio investors and domestic institutional investors, the movement of the rupee against the dollar and crude oil price movement will also remain on investors' radar.
Mafatlal to cut stake in Nocil
The board of directors of Mafatlal Industries has reviewed the fund requirement of the company to strengthen its business operations. Accordingly, it has given an in-principle approval for sale of up to 16 lakh shares of Nocil. Read more
Broker's call
Karda Constructions (Buy)
CMP: ₹175.35
Target: ₹278
Mallya barred from securities market
SEBI has barred fugitive businessman Vijay Mallya from the securities market for another three years as also from holding directorship in listed companies for five years in the case of illegal fund diversions at United Spirits Ltd. Read more
F&O traders beware!
Traders dabbling in equity derivatives are set to be pinched by higher margin commitments and liquidity net worth criteria imposed by the exchanges. The new system, which was supposed to be effective from Friday, would now become operational from July 2. Click here to read more
Nifty futures trading hit
The NSE-SGX dispute started in February, when the NSE withdrew from an 18-year-long pact with the Singaporean bourse
The dispute between the National Stock Exchange and the SGX seems to be having an impact on Nifty futures trading. Interest in India’s top traded derivative index has witnessed a fall since February this year. Click here to read more
Opening bell
The BSE index surged 218.91 points or 0.62 per cent to 35,446.17 and the NSE index climbed 61.30 points or 0.57 per cent to 10,757.50.
Domestic sentiment was buoyed as the Indian economy registered a growth rate of 7.7 per cent for the January-March quarter, the fastest it has grown since April-June 2016-17.
Asian shares rose to their highest level in two-and-a-half-weeks as strong US jobs data offset worries that tariff wars between the United States and the rest of the world could drag on global economic growth.
9.10 am
Pre-open trade
The 30-share BSE index Sensex surged 275.98 points or 0.78 per cent at 35,503.24 and the 50-share NSE index Nifty climbed 69.75 points or 0.65 per cent to 10,765.95.
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