Stock Market Today: Sensex crashes 1,017 factors, Nifty ends close to 16,200-mark on weak world cues

Stock Market Today, Share Market Updates: The benchmark fairness indices on the BSE and National Stock Exchange (NSE) ended over 1.5 per cent decrease on Friday monitoring a fall within the world markets.

The S&P BSE Sensex crashed 1,016.84 factors (1.84 per cent) to finish at 54,303.44 whereas the Nifty 50 declined 276.30 factors (1.68 per cent) to settle at 16,201.80. Both the indices had opened round 1 per cent decrease earlier within the day and slipped additional because the commerce progressed. The BSE benchmark hit an intraday low of 54,205.99 whereas the broader Nifty had touched 16,172.60.

On the Sensex pack, Kotak Mahindra Bank, Bajaj Finance, Housing Development Finance Corporation (HDFC), Reliance Industries (RIL), Wipro, Infosys, Tech Mahindra, Tata Steel and Tata Consultancy Services (TCS) have been the highest losers on Friday. In distinction, Asian Paints, Ultratech Cement, Dr. Reddy’s Laboratories, Titan Company, IndusInd Bank, Nestle India and Hindustan Unilever ended within the inexperienced.

All the sectoral indices led to purple on Friday. The Nifty Financial Services declined 2.24 per cent, Nifty IT fell 2.17 per cent, Nifty Oil & Ogas cracked 2.08 per cent and the Nifty Bank slipped 1.71 per cent.

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In the broader market, the S&P BSE MidCap ended at 22,490.32, down 144.73 factors (0.64 per cent) whereas the S&P BSE SmallCap settled at 25,857.42, down 181.85 factors (0.70 per cent). The volatility index or India VIX on NSE rose 2.27 per cent to 19.58.

“After a streak of three weekly gains, Nifty ended lower for the week by 2.31 per cent. Bounces remain short-lived as traders and investors keep selling into them. The US Fed meet on June 14-15 will be the next big event affecting the sentiments. Nifty has closed below the gap support of 16,204. Now 16,026 will be the next support while 16,356 will be the resistance,” mentioned Deepak Jasani, Head of Retail Research at HDFC Securities.

Rupee

The rupee tumbled 11 paise to shut at a contemporary lifetime low of 77.85 (provisional) towards the US greenback on Friday as a sell-off in home equities and stronger dollar abroad weighed on investor sentiment.

Persistent international capital outflows, elevated world crude oil costs and risk-averse sentiments additionally impacted the home unit, foreign exchange merchants mentioned.

At the interbank international change market, the native foreign money opened at 77.81 and witnessed an intra-day excessive of 77.79 and a low of 77.87 towards the US greenback.
The native unit lastly settled at its all-time low of 77.85, down 11 paise over its earlier shut of 77.74.

Global market

Shares have been largely decrease in Europe and Asia on Friday forward of the discharge of key US shopper inflation knowledge, whereas US futures have been little modified. The newest report on the US shopper worth index was due later within the day. Economists count on it to indicate inflation slowed a contact to eight.2 per cent in May from 8.3 per cent a month earlier.

Investors are hoping for indicators inflation might have already peaked, Germany’s DAX misplaced 1.6 per cent to 13,971.00 whereas the CAC 40 in Paris gave up 1.5 per cent to six,264.25. Britain’s FTSE 100 slipped 1.2 per cent to 7,390.48. The future for the S&P 500 was down lower than 0.1 per cent and that for the Dow industrials edged 0.1 per cent decrease.

In Asian buying and selling, markets in mainland China have been lifted by information that inflation remained subdued at 2.1 per cent in May. The Shanghai Composite index added 1.4 per cent to three,284.83. Tokyo’s Nikkei 225 index misplaced 1.5 per cent to 27,824.29 whereas the Kospi in Seoul shed 1.1 per cent to 2,595.87. In Australia, the S&P/ASX 200 declined 1.3 per cent to six,932.00. Hong Kong’s Hang Seng slipped 0.3 per cent, shedding early good points, to 21,806.18.

-rupee enter from PTI and world market enter from AP