Sensex Today Live: Stock Market Live Updates: Sensex makes up for most of the losses, trading just 200 points lower; Handy back above 18,000

Sensex Today Live: Indian stocks plunged Wednesday, led by sharp falls in technology stocks, as faster-than-expected US inflation data fueled fears that the Federal Reserve would not abandon its aggressive policy tightening.

In early trades on Wednesday, the Nifty and Sensex were down 1.65% and 1.91% respectively, setting their largest intraday drop in more than two weeks.

The Nifty IT index was hardest hit in Mumbai, falling 3.7%, with IT majors Infosys and Tata Consultancy Services falling about 3.5% each.

Wall Street had plunged the most since June 2020 and Asian stocks slipped after US consumer price data unexpectedly surged in August, reinforcing expectations that the Fed will make a third rate hike of 75 basis points next week.

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NIFTY CLAIMS 18000

NIFTY CLAIMS 18000

August WPI Inflation Decreases to 12.41% YoY

India’s annual wholesale price-based inflation (WPI) fell from 13.93% in the previous month to 12.41% year-on-year in August, government data showed on Wednesday. The August figure was lower than the 13% forecast in a Reuters poll of analysts, compared to 11.64% in August 2021.

SBI market cap exceeds Rs 5 lakh crore

SBI market cap exceeds Rs 5 lakh crore

Five Nifty50 stocks are trading at 52-week highs

Five Nifty50 stocks are trading at 52-week highs

Tata Power receives award for Rs 596 cr solar power project for NHDC, according to agencies

Price per Sep 14, 2022 11:37 amClick on company names for their live prices.

Shares of KEC International rose nearly 5 percent on Wednesday to an all-day high of Rs 449.8 per share. Sharp gains in the stock come after the company secured new orders worth Rs 1,108 crore across its various businesses.

Price per Sep 14, 2022 11:36 amClick on company names for their live prices.

Shares of Filatex India rose more than 7 percent in trading on Wednesday after the company was granted a patent for 20-year recycling of polyethylene terephthalate (PET) waste effective June 2, 2021.

Price per Sep 14, 2022 11:29 amClick on company names for their live prices.

Profit in Inox Leisure, PVR drive media pack higher in a weak market

Price per Sep 14, 2022 11:12 amClick on company names for their live prices.

Yesterday’s drop of 4.32% and 5.12% in the S&P 500 and the Nasdaq is another reminder that there is more uncertainty about inflation and growth and more volatility for the markets ahead. Worse-than-expected US CPI inflation data, despite cooling gas prices, came as a surprise. Now the market fears that inflation is becoming entrenched and that an ultra-hawkish Fed could cause a hard landing for the US economy. This way of thinking can also change as new data emerges. The ‘buy on dips’ strategy has been working very well in India for over a month. Investors should be on the lookout for this strategy to continue to work. It is better to avoid aggressive buying at dips. Wait for clarity. Domestic economy-oriented stocks such as high-value financials, capital goods, automobiles, FMCG and telecom segments are now relatively safe. Global economy stocks such as IT and metals are likely to come under pressure.

– dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Harsha Engineers IPO kicks off: should you register?

  • The IPO of Rs 755 crore (IPO) of Harsha Engineers International (HEIL) opened for subscription on Wednesday, September 14. The IPO will remain open until Friday, September 16.

  • The company is selling its shares in the range of Rs 314-330 each. It offers a discount of Rs 31 per share of shares to its eligible employees. The lot size for the issue has been set at 45 treasury shares.

  • Majority of brokers remain positive about the matter and suggest subscribing to it. However, some have identified rising commodity prices and reliance on major customers as major concerns.
Harsha Engineers IPO kicks off: should you register?

Infosys, Coforge, L&T Tech among the top losers from the IT package

Price per Sep 14, 2022 10:01 amClick on company names for their live prices.

Sensex back above 60,000

Sensex back above 60,000

Most active stocks on NSE in opening session

Price per Sep 14, 2022 09:36 o’clockClick on company names for their live prices.

The twist warned yesterday after peeking into the 18040-160 band is poised to unfold today. The catchment area is 17860. A successful retreat over this area later in the day could restart the 18600 trajectory. Failure to do so could indicate a longer downtrend towards 17520 in the coming days, but a collapse is still not one of the favored moves.

– Anand James – Chief Market Strategist at Geojit Financial Services

All sectors in red; IT package tanks more than 3%

All sectors in red;  IT package tanks more than 3%

Opening bell: Sensex crashes 1,000 points, conveniently below 17,900; TechM, Infosys tumble 4% each

Opening bell: Sensex crashes 1,000 points, conveniently below 17,900;  TechM, Infosys tumble 4% each

On the technical side, Nifty formed another bullish candle on the daily chart and surpassed the much anticipated 18000 mark hurdle to continue its winning streak. However, the momentum oscillators have now entered overbought territory and some degree of cooling appears to be eminent. The current price structure indicates that the positive bias continues and our domestic Index is likely to move towards 18,300 in the near term as it is the January 2022 swing high. Nifty also registered a bullish gold crossover in August (50-DEMA cross above 200-DEMA) implying a significant shift in momentum from a medium-term perspective. Nifty has also delivered a convincing breakout of the eight-month bearish channel signal, the end of the corrective phase, and the breakout is well supported by successive improvement in market breadth. But a brutal sell-off in the US market after US inflation data for August, the Fed is very likely to push another 75 basis point rate hike at its next FOMC meeting on September 21, and that would impact our market as well. .

– Tirthankar Das, Technical & Derivative Analyst, Retail, Ashika Stock Broking

Oil prices soar on robust global demand outlook

Oil prices surged at the start of trade on Wednesday as OPEC stuck to forecasts of robust global fuel demand growth, offsetting concerns about another US Federal Reserve rate hike next week after consumer prices fell in August unexpectedly.

Asian stocks extend global sell-off amid bets on more aggressive Fed

Asian stocks tumbled, the dollar held up and the US yield curve was deeply inverted on Wednesday, as a white-hot US inflation report lowered hopes of a spike in inflation and fueled bets that interest rates may need to be raised higher and for longer.

SGX Nifty signals a gap-down start

Handy futures on the Singapore Exchange traded 298 points, or 1.65 percent, lower at 17,794, indicating Dalal Street was headed for a gap-down start on Wednesday.

Tech View: Nifty50 takes away 18K, but power is missing

Nifty50 climbed Tuesday for the fourth day in a row, reaching the 18,000 level on a closing basis, the first time since April 4. Trading above its key short and long-term averages, the 50-pack index formed a small bullish candle on the daily chart, with fuses on both sides, reflecting indecision among traders at high.

Shares of Tokyo fall due to inflation in US, Wall Street falls

Tokyo stocks fell on opening Wednesday as investors shied away from risk after new data showing US inflation remained stubbornly high led to a sell-off on Wall Street. The benchmark Nikkei 225 index fell 2.80 percent or 799.83 points to 28,814.80 in early trading, while the broader Topix index fell 2.02 percent or 40.22 points to 1,946.35.

Dow Jones drops 1,276 points after US CPI data

A broad sell-off rocked US stocks on Tuesday after a hotter-than-expected inflation report dashed hopes that the Federal Reserve could succumb in the coming months and reverse its policy tightening.

Rupee rises 36 paise to more than a month high due to influx of foreign funds

The rupee appreciated 36 paise, closing at a month-to-month high of 79.17 against the US dollar on Tuesday, following the dollar’s decline against its main competitors and foreign fund inflows.

Sensex, Nifty on Tuesday

The 30-share Sensex rose 455.95 points to end at 60,571.08. Its wider counterpart, Nifty50, finished at 18,066.80 points, up 130.45 points.

Good morning, dear reader! Here’s something to kickstart your trading day

Good morning, dear reader!  Here's something to kickstart your trading day

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