Nifty 50 LIVE Updates: Index slides below 24,300 amid selling pressure in financial stocks; Sun Pharma leads gains in healthcare pack
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex remained under pressure after a lacklustre start to the session on Wednesday. Selling pressure in financial stocks weighed on the market though buying interest in select financial and oil & gas shares lent some support, helping the Nifty 50 and Sensex avoid deeper cuts. Caution persists among investors globally ahead of a key rate decision in the US later in the day.
Equities in other major markets across Asia are a mixed bag, with MSCI's broadest index of Asia Pacific shares outside Japan trading 0.4 per cent higher but Japan's Nikkei 225 down 0.2 per cent. Overnight on Wall Street, the three main benchmark--the Dow Jones, the S&P 500 and the Nasdaq Composite--closed 0.3-0.6 per cent lower.
Nifty 50 LIVE | Follow this space to catch the latest market updates throughout the December 18 session on Dalal Street:
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex remained under pressure after a lacklustre start to the session on Wednesday. Selling pressure in financial stocks weighed on the market though buying interest in select financial and oil & gas shares lent some support, helping the Nifty 50 and Sensex avoid deeper cuts. Caution persists among investors globally ahead of a key rate decision in the US later in the day.
Equities in other major markets across Asia are a mixed bag, with MSCI's broadest index of Asia Pacific shares outside Japan trading 0.4 per cent higher but Japan's Nikkei 225 down 0.2 per cent. Overnight on Wall Street, the three main benchmark--the Dow Jones, the S&P 500 and the Nasdaq Composite--closed 0.3-0.6 per cent lower.
Nifty 50 LIVE | Follow this space to catch the latest market updates throughout the December 18 session on Dalal Street:
Latest Updates
Share Market Today LIVE: Zerodha says users may face issue in authorising stock sale, cites problem at CDSL
Zerodha has cautioned its users that they may face an issue while authorising the sale of their stocks due to an "issue at CDSL across brokers".
Sensex LIVE Update: Sensex down over 400 pts, manages to hold 80,250 mark for now
Sensex falls as much as 461.4 pts, or 0.6 per cent, to 80,223.1, having changed direction at least four times after a muted start to the day.
At this hour, the 30-scrip index stands at 80,263.4, down 421 pts, or 0.5 per cent, for the day.
Image: BSEIndia.com
Share Market Today LIVE: Take a look at key factors impacting Dalal Street now
All Eyes on Fed: Caution persists among investors globally ahead of the Fed's last rate decision of the year where the US central bank is widely expected to deliver a fourth reduction of the year. The much-anticipated event may not only mark the US central bank's third rate cut of the year but also offer more clarity about its future rate decisions.
Intermittent FII Selling: Although foreign institutional investors (FIIs) have emerged net purchasers of Indian shares in six out of the total 11 sessions so far this month, many analysts fear that it may be a while before they switch to a sustainably bullish mode on Dalal Street. However, domestic institutional investors (DIIs) continue to fill the gap created by foreign institutional selling, a trend also witnessed in almost two straight months of back-to-back FII outflows in the market starting late September. As of December 16, FIIs and DIIs have net bought shares to the tune of Rs 11,428 crore and Rs 4,438 crore respectively, according to provisional exchange data.
Rupee Not Out of Woods Yet: The rupee hit a record low of 84.92 against the US dollar during Tuesday's session, the latest in a series of lows over the past few days. While a depreciating rupee is positive for export-heavy businesses like IT companies, it increases the costs of sectors relying heavily on commodities like metals and electronics. Additionally, companies with significantly higher levels of overseas borrowings face higher repayment costs due to rupee depreciation.
Slowing Economic Growth: Official data released last month showed that the country's GDP growth slowed to a seven-quarter low of 5.4 per cent in the July-September period. Although many experts believe that GDP growth may have bottomed out for now, some fear it may have a prolonged impact on business activities.
Inflation Under Control? November's consumer inflation reading came in at 5.48 per cent, in line with most economists' estimates and within the upper end of the RBI's medium-term tolerance range. Many economists believe that easing inflation gives the RBI room to cut the benchmark interest rate in its February policy review.
Rate Cut Expectations: Also preventing a further sell-off in the market are market-wide expectations of an imminent rate cut in February. In its December policy review, the RBI's Monetary Policy Committee (MPC) decided to keep the repo rate on hold at 6.5 per cent while deciding to lower the cash reserve ratio (CRR) by 50 bps in two tranches in a move set to infuse liquidity in the system.
Share Market Listing Update: Sai Life Sciences shares list at up to 20% premium
Sai Life Sciences has entered the secondary market at Rs 660 and Rs 650 apiece on BSE and NSE respectively.
This translates to premiums of 20.2 per cent and 18.4 per cent on the exchanges respectively.
Share Market Listing Update: One MobiKwik Systems shares list at 58.5% premium on BSE, 57.7% on NSE
MobiKwik is the most chased listing of the day so far, having debuted at a premium of up to 58.5 per cent on the exchanges.
The stock has opened at Rs 442.3 and Rs 440 on BSE and NSE, marking premiums of 58.5 per cent and 57.7 per cent respectively.
Share Market Listing Update: Vishal Mega Mart shares list at 41% premium on BSE, 33.3% on NSE
The stock enters the secondary market at Rs 110 apiece on BSE and Rs 104 apiece on NSE, marking premiums of 41 per cent and 33.3 per cent respectively.
Listing Update: Vishal Mega Mart, MobiKwik, Sai Life Sciences debut on Dalal Street
All three make a strong entry into the listed space.
Vishal Mega Mart shares debut at a premium of around 41 per cent over the issue price, whereas the MobiKwik stock debuts at a premium of around 58 per cent.
Share Market Today LIVE: Sensex drops over 50 pts, Nifty near 24,300; Tata Motors top blue-chip loser, down 2%; Power Grid down 1%
Here's how the indices fare at the opening tick:
- Sensex: down 69.1 points at 80,615.4
- Nifty 50: down 29.8 points at 24,306.2
Share Market Today LIVE: Sensex, Nifty50 inch lower in pre-opening trade
Here's where the indices stand at the end of the pre-market session:
- Sensex: down 18.2 points at 80,666.3
- Nifty: down 38.2 points, or 0.2 per cent, at 24,298
Share Market Today LIVE: Vishal Mega Mart, MobiKwik, Sai Life Sciences set to debut on Dalal Street
What to expect in Vishal Mega Mart listing?
Zee Business Managing Editor Anil Singhvi expects a strong listing for Vishal Mega Mart shares. He expects the stock to list in the Rs 95-100 range, marking a premium over the issue price of Rs 78.
He points out that the Vishal Mega Mart IPO got a good response from investors, reflected in its overall subscription of 28 times.
The market guru, who recommended applying for the IPO, now suggests the stock from a long-term perspective. Long-term investors must hold this stock, he says.
Singhvi expects the stock to double in 2-3 years.
Short-term investors can keep a stop loss below Rs 87 and keep trailing, he adds.
Share Market Today LIVE: Strong support for Nifty 50 at 23,875-24,000 levels, says market guru Anil Singhvi
Zee Business Managing Editor Anil Singhvi expects support to emerge at 24,175-24,275 levels and a stronger support zone at 23,875-24,000 levels for the headline Nifty50 index today.
For the Nifty Bank, he expects support at 52,375-52,550 levels and a stronger support zone at 52,100-52,275 levels.
Read more on how the market wizard views the market and what he recommends today
Share Market Today LIVE: Wall Street indices drop ahead of Fed decision; Dow Jones drops over 250 pts
On Tuesday, the three main US equity benchmarks--the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite--finished 0.3-0.6 per cent lower as investors awaited a key rate decision by the Fed due the next day.
A series of other central bank decisions are also due this week.
Here's how the three US indices ended on Tuesday:
- Dow Jones Industrial Average: down 0.6 per cent
- S&P 500: down 0.4 per cent
- Nasdaq Composite: down 0.3 per cent
Share Market Today LIVE: Asian markets a mixed bag; Chinese equities rise, Japanese stocks decline
MSCI's broadest index of Asia Pacific shares outside Japan is trading 0.4 per cent higher.
Here's how some of the key markets across Asia are faring at this hour:
- Japan's Nikkei 225: down 0.2 per cent
- Singapore's Straits Times: down 0.2 per cent
- Hong Kong's Hang Seng: up 0.8 per cent
- South Korea's KOSPI: up 1.0 per cent
- China's Shanghai Composite: up 0.8 per cent
Nifty 50 poised for a negative opening today? See what GIFT Nifty futures indicate
Domestic equity benchmarks Nifty 50 and Sensex are poised to make a weaker start to the session on Wednesday amid caution among investors globally ahead of a key rate decision in the US later in the day.
GIFT Nifty futures are down 58.2 points, or 0.2 per cent, at 23,359.5 at this hour.
GIFT Nifty futures are an early indicator of the headline Nifty 50 index.
Nifty 50 LIVE Updates | Ready for today's trading session on Dalal Street?
Welcome to Zeebiz.com's market blog for the day
Follow this space to catch the latest updates from Dalal Street, LIVE market action, and the views of Zee Business Managing Editor Anil Singhvi and other experts, and much more, on December 18.
Happy trading, and happy investing!