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Share Market News Live: Sensex falls over 300 points, Nifty tests 18,600; Hindalco, Tata Steel, JSW Steel top drags

Business Today logo Business Today 06-12-2022 Business Today Desk
Share Market News Live: Sensex falls over 300 points, Nifty tests 18,600; Hindalco, Tata Steel, JSW Steel top drags © Provided by Business Today Share Market News Live: Sensex falls over 300 points, Nifty tests 18,600; Hindalco, Tata Steel, JSW Steel top drags

Share Market Updates Today: Indian equity benchmarks traded lower today amid weak global cues. Asian markets were mostly down in early deals as South Korea's Kospi fell 0.47 per cent, China's Shanghai Composite moved 0.40 per cent down and and Hong Kong's Hang Seng index slipped 1.13 per cent. Japan's Nikkei, however, edged 0.13 per cent higher. Overnight, US stocks settled on a lower note. All three major US stock indexes plunged sharply. US services industry activity unexpectedly picked up in November, with employment rebounding, signaling momentum in the world's largest economy and sparking concerns that the Federal Reserve could tighten policy further to tackle inflation. Indian stock markets would now be focused on RBI's monetary policy decision. The Reserve Bank of India is expected to raise interest rates by a smaller 35 basis points to 6.25 per cent. Back home, foreign institutional investors sold a net of Rs 1,139.07 crore equities on Monday, while domestic investors purchased Rs 2,607.98 crore worth of shares, as per provisional NSE data.

Here are the share market Live Updates:

Share market update

Sensex falls 327 points or 0.52 per cent to trade at 62,508, Nifty moves 96 points or 0.51 per cent lower to trade at 18,605; Hindalco, Tata Steel, JSW Steel, ONGC, HCL Tech among top drags

Stocks at one-year highs: 14 BSE 500 stocks at 52-week high

BSE 500 stocks such as Aditya Birla Capital, Bank of Baroda, Bank of India, Britannia, CG Power, HAL, IDBI, Indian Bank, Jyothi Labs, L&T Financial Holdings, PNB, PSB, RCS and Union Bank hit their respective 52-week high levels today.

Raymond Ltd shares down 2.5%

Shares of Raymond Ltd plunged 2.5 per cent to trade at Rs 1,540.60. The stock touched a day low of Rs 1,529.85. A total of 14,000 shares changed hands today, amounting to a turnover of Rs 2.22 crore on BSE. The company's market capitalisation (m-cap) stood at Rs 10,256.35 crore.

Most active stocks

PNB, Suzlon, Yes Bank, Bajaj Hindusthan Sugar, South Indian Bank, Bank of India, Excel, UCO Bank, GLT Infra and Union Bank were the most active stocks on the NSE platform, in terms of volume.

Share market update

Sensex falls 416 points or 0.66 per cent to trade at 62,418, Nifty moves 105 points or 0.56 per cent down to trade at 18,596; Hindalco, Tata Steel, HCL Tech, ONGC, Hero MotoCorp among top drags

Share market breadth

The overall market breadth stood strong as 1,418 shares were seen advancing while 1,019 were declining on BSE.

Sectoral indices' performance

14 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the red. Sub-indexes Nifty IT and Nifty Metal were underperforming the NSE platform by falling 1.17 per cent and 0.99 per cent, respectively. On the flip side, Nifty PSU Bank climbed 0.88 per cent.

Mid & small cap indexes

Mid- and small-cap shares were mixed as Nifty Midcap 100 fell 0.20 per cent and small-cap edged 0.06 per cent higher, respectively.

Top gainers and losers on NSE

Hindalco, HCL Tech, Infosys, Tata Steel and ONGC were among the top lggards on the NSE platform today with their shares down as much as 1.75 per cent. In contrast, SBI Life, HDFC Life, Adani Ent, Coal India and IndusInd Bank were among the top gainers.

Share market opening

Sensex falls 277 points or 0.44 per cent to trade at 62,558, Nifty moves 92 points or 0.49 per cent down to trade at 18,609

Rupee vs dollar view - Amit Pabari, MD, CR Forex Advisors

The rupee-dollar pair is likely to move towards 81.50 levels in the coming sessions. For now, we expect the pair to continue to trade in a range of 81.00-82.20 levels, and until then, sell on upticks shall remain a viable strategy for exporters.

Stocks to watch

Adani Enterprises, NDTV: Adani closed its open offer to buy a 26 per cent stake in NDTV, becoming its biggest shareholder.

Kalpataru Power Transmission: The company would consider raising funds through issuing non-convertible debentures.

Bajaj Consumer: The company would consider a share buyback proposal on December 9.

IRB Infrastructure Developers: The company's November toll collection increased about 39 per cent on a yearly basis.

Oil prices rise

Brent crude futures rose 74 cents, or 0.90 per cent, to $83.42 per barrel, while US West Texas Intermediate crude futures moved 69 cents, or 0.90 per cent higher, to $77.62.

US stocks

Dow Jones fell 1.40 per cent to settle at 33,947.10. S&P 500 index slipped 1.79 per cent to end the session at 3,998.84. Nasdaq moved 1.93 per cent lower to close at 11,239.94.

Stocks in F&O ban

Delta Corp, GNFC and Indiabulls Housing Finance are in F&O (Futures and Options) ban period today. Stocks are placed under F&O ban when the derivative contracts in their securities cross 95 per cent of the market-wide position limit.

FII-DII data

Foreign institutional investors (FIIs) sold Rs 1,139.07 crore worth of shares, while domestic institutional investors (DIIs) purchased Rs 2,607.98 crore worth of shares on December 5, provisional NSE data showed.

SGX Nifty

Trends on SGX Nifty indicated a lower opening for the domestic markets. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 64 points or 0.34 per cent to trade at 18,746.

Previous session

The benchmark BSE Sensex had slipped 34 points or 0.05 per cent to close at 62,835 on Monday, while the broader NSE Nifty had settled 5 points or 0.03 per cent higher at 18,701.

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