sensex today: Stock Market Crash LIVE Updates: Sensex plunges 1,200 points, Nifty50 slips
Sensex Today LIVE: Equity benchmarks fell sharply on Thursday in line with an extremely weak trend in the global markets, with the Sensex plunging as much as 1100 points. Persistent foreign fund outflows and a spurt in crude oil prices also dampened sentiment. Asian markets in Seoul, Shanghai, Hong Kong and Tokyo were trading lower. Stock exchanges in the US had ended significantly lower on Wednesday.
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Dr Reddy’s Laboratories on Thursday said its consolidated net profit for the quarter ended March 2022 dropped to 75.85 per cent to Rs 87.5 crore, compared with Rs 362.4 crore in the same quarter last year. The profit figure was sharply lower compared with an ET Now analysts’ poll projection of Rs 560 crore. Revenue for the quarter rose 14.98 per cent to Rs 5,436.8 crore from Rs 4,728.4 crore in the corresponding period last year.
Market LIVE Updates: Nifty slips below 15,850, at day’s low
5 stocks that tanked the most along with market mood
Price as on 19 May, 2022 12:16 PM, Click on company names for their live prices.
- On a day when domestic benchmark indices plunged 2 per cent amid a global meltdown, ITC stock was on a firm footing on Thursday morning and was the lone Sensex gainer, not only due to its all-round March quarter earnings beat but also on rising hopes that the Kolkata-based company would fare better than peers in inflationary scenario, given its high-margin cigarette segment that just saw 9 per cent jump in Q4 volumes.
- Analysts said cigarette volumes and profits were both better than forecasts, and the beat in FMCG was driven by both growth and margin. They find ITC attractive also because of solid growth in other segments and 4-5 per cent dividend yield.
Investors poorer by over Rs 5 lakh crore in early trade as markets tumble
Equity investors became poorer by over Rs 5 lakh crore in early trade on Thursday as domestic benchmark indices tumbled mirroring weak trends in global equities. The 30-share BSE benchmark Sensex tanked 1,154.78 points to 53,053.75 in early deals tracking weak global markets, persistent foreign fund outflows and a spurt in crude oil prices. The weak broader market trend pulled down the market capitalisation of BSE-listed firms by Rs 5,02,731.03 crore to Rs 2,50,74,714.78 crore in early trade.
Sensex today LIVE: Index extends decline, down nearly 1200 points
JUST IN: SC rules GST council’s recommendations not binding on Union & state govts
Parliament, and state legislatures possess equal legislative powers.
These Nifty stocks hit 52-week lows today
Volkswagen and M&M sign partnering agreement for MEB electric components
Price as on 19 May, 2022 10:49 AM, Click on company names for their live prices.
Market LIVE Updates: BSE IT index bleeds over 3%, emerges as worst sectoral performer
Birla Tyres slumps 5% to 52-week low after IndusInd Bank sells 38 lakh shares
Shares of Birla Tyres plunged 4.7 per cent to a 52-week low after IndusInd Bank said on Wednesday that it has sold over 38 lakh shares of Birla Tyres in tranches in the last one week on invocation of pledged shares. On May 10, the private sector lender had acquired 1,45,63,787 equity shares equivalent to 10.214 per cent of paid-up equity share capital of Birla Tyres Ltd on invocation of pledge of shares, PTI reported. Birla Tyres’ share price fell to a 52-week low of Rs 9.05 as against Rs 9.50 at previous close on the BSE.
While cautioning on 16400’s ability to mount a challenge, we had envisaged a dip only as far as 16030 for fresh entry for longs. An open today below this region will attract an actionary upswing, but if such attempts fail to clear 16090-160 region, then the 15400 objective that Nifty was threatening us with, all through last week, will come into active play.
– Anand James – Chief Market Strategist at Geojit Financial Services
Market LIVE Updates: New-age stocks in the red, fall up to 4%
Price as on 19 May, 2022 09:57 AM, Click on company names for their live prices.
After increasing net longs single stock open interest since mid-Apr, Retail has started to trim long positions – they net long open interest is down $500 mn over the last 5 sessions. FII selling intensity in cash segment has also ebbed in this period. As a result, headline indices have bounced on low market volumes, from extremely oversold conditions. Metals stocks have been the weakest segment of the market, with long unwinding seen across ferrous as well as non-ferrous stocks. Autos and standalone refinery stocks have been the strongest sectors on account of revenue visibility.
– S Hariharan, Head of Sales Trading, Emkay Global Financial Services
STOCK IN FOCUS: Nestle India hits 52-week low
Cause of panic in equity markets: Toxic trifecta of multiple compression (P of P/E getting adjusted lower or multiple de-rating ), cost-led margin compression and impending slowdown in sales growth where the lethal combination of the last two factors is leading to fears of estimated earnings or ‘E’ of P/E getting slashed.
– Ajay Bodke, independent market analyst
EARNINGS IMPACT: ITC defies bearish market mood, gains 1.5%
ITC Ltd posted a 16% growth in revenue from operations at Rs 16,426 crore for the fourth quarter ending March as compared to the same period last year, while net profit went up by 11.8% to Rs 4190.96 crore in the period under review. The conglomerate said there was strong growth across all businesses despite the third Covid wave.
YES Bank, ITC, Manappuram Finance among most active stocks on NSE
Price as on 19 May, 2022 09:24 AM, Click on company names for their live prices.
Sector Watch: All Nifty sub indices in the red
- Realty, IT, Media & Metals tank over 3% each
Sensex Heatmap: Barring ITC, Sun Pharma all Sensex constituents in the red
OPENING BELL: Sensex plunges 850 points, Nifty50 slips below 15,950; TechM, Wipro plunge up to 4%
SGX Nifty signals a gap-down start
Nifty futures on the Singapore Exchange traded 322.50 points, or 1.99 per cent, lower at 15,913, signaling that Dalal Street was headed for a gap-down start on Thursday.
Tech View: Nifty50 takes a pause
Nifty50 on Wednesday failed to capitalise on a firm start, as it ended up forming a small bearish candle on the daily chart, with a long upper wick, reflecting selling pressure near the 16,400 level. But analysts are unfazed and see no major impact on the positive momentum post Tuesday’s big bullish candle.
Hong Kong stocks sharply down at the open
Hong Kong equities opened sharply lower on Thursday, after Wall Street took a battering the day before. The Hang Seng Index dipped 2.71 percent, or 559.39 points, to 20,084.89.The Shanghai Composite Index opened down 0.96 percent, or 29.51 points, to 3,056.47, and the mainland’s second exchange, the Shenzhen Composite Index, saw a dip of 0.91 percent, or 17.76 points, to 1,923.78.
Tokyo shares open lower tracking US losses
Tokyo shares opened lower on Thursday after Wall Street stocks suffered a battering as worries mounted about inflation and corporate profitability. The benchmark Nikkei 225 index dropped 1.78 percent, or 479.48 points, to 26,431.72 at the open, while the broader Topix index lost 1.79 percent, or 33.69 points, to 1,851.00.
US stocks fall sharply on inflation fears
The Dow Jones Industrial Average sank more than 1,100 points and the S&P 500 had its biggest drop in nearly two years Wednesday, as big earnings misses by Target and other major retailers stoked investors’ fears that surging inflation could cut deeply into corporate profits. The Dow dropped 3.6%, while the Nasdaq fell 4.7%. The three indexes are on pace to extend a string of at least six weekly losses.
Rupee skids 17 paise to 77.61 against dollar
The rupee declined by 17 paise to close at its fresh lifetime low of 77.61 against the US dollar on Wednesday amid unabated foreign fund outflows and concerns over aggressive rate hikes by the US Federal Reserve to tame inflation. A stronger greenback in the overseas markets and crude oil prices surging over 1 per cent to $113 per barrel also weighed on the local unit.
Sensex, Nifty on Wednesday
Equity benchmarks surrendered early gains to close with modest losses on Wednesday, snapping their two-day winning streak as investors pared exposure to power, IT and bank stocks amid a mixed trend in global markets. The 30-share BSE Sensex soared in opening trade, before succumbing to bouts of volatility in the afternoon session. It finally settled 109.94 points or 0.20 per cent lower at 54,208.53. On similar lines, the broader NSE Nifty dipped 19 points or 0.12 per cent to finish at 16,240.30.