sensex today: Stock Market Live Updates: Sensex rises 300 points, trades at day’s high; Nifty nears 16,400; bank, FMCG stocks top contributors

Sensex today LIVE: Index extends gains, trades at day’s high

Bitcoin breaches $30,000 mark, down 25% in just 6 days

The cryptocurrency market witnessed a bloodbath on Tuesday amid sinking global markets and diminishing risk appetite of investors. Following a 13 per cent decline, Bitcoin breached the $30,000 mark in the last 24 hours. It is the lowest level of the largest digital token since July 2021. It hit an intraday low of $29,944.80. According to data from Coinmarketcap, Bitcoin has tumbled about 25 per cent in the last six days. The crypto behemoth has tanked about 60 per cent from its peak scaled in November 2021.

USFDA conducted a Good Manufacturing Practices (GMP) inspection of Sun Pharmaceutical Industries Limited’s Halol facility (Gujarat, India) from April 26 to May 9, 2022. At the conclusion of the inspection, the US FDA issued a Form-483, with 10 observations.

Price as on 10 May, 2022 11:38 AM, Click on company names for their live prices.

As per RBI’s own calculations, almost every 5% depreciation in the rupee adds about 10-15 bps to the inflation. So given the fact that inflation is already very high and the RBI has been quite late to play catch up as far as raising interest rates to tackle inflation is concerned, going forward the outlook is not too good for the Indian rupee.

– Mythili Bhusnurmath, Consulting Editor, ET Now

Market LIVE Updates: Nifty Auto rallies over 1%

Sensex Today LIVE: Index off day’s low, trades nearly 100 points up

Drug major Cipla on Tuesday said it has launched a COVID-19 RT PCR testing kit in the country in partnership with diagnostics firm Genes2Me. With the launch of the “RT-Direct multiplex COVID-19 RT PCR” test kit, the Mumbai-based drug firm is expanding its diagnostics offerings, it said in a regulatory filing.

Price as on 10 May, 2022 10:34 AM, Click on company names for their live prices.

The upswing yesterday could take Nifty only as far as 16,400, the previous breakdown point, which de facto became a significant resistance. The rejection thereof would mean that we would start today just like yesterday, with a downside gapped opening followed by attempts to rise. Meanwhile,16,250 vicinity will take on the role donned by 16,400 yesterday, by keeping a lid on upsides, and 16,060 that of 16,250 by attempting to stage an upside reversal. The 15,800 region lies in wait, and so is a much larger 14,500 move, but our bets today are on 16,060 holding for an upswing towards 16,250 early in the day, with potential for extended upsides, while above 16,180.

– Anand James – Chief Market Strategist at Geojit Financial Services

Market LIVE Updates: Rainbow Children’s Medicare shares list at 6% discount

Terra halves investor wealth; Bitcoin, Shiba Inu, Solana tank up to 17%

Barring the dollar-pegged stable coins, all major crypto tokens and altcoins were bleeding. Terra tanked over 49 per cent, wiping off half of the investor wealth, whereas Shiba Inu’s 17 per cent drop pulled it out from the top-15 crypto tokens. Bitcoin slumped about 10 per cent to hit 10-month lows, while Ethereum dropped another 8 per cent. Solana, Cardano, Avalanche, BNB plunged in the range of 12-16 per cent each.

The mother market US has turned distinctly weak with Nasdaq, S&P 500 and Dow at 1-year lows. European markets are moving in tandem with US markets. Relatively India is doing better thanks to the consistent buying by DIIs and retail investors. Retail investors should not rush in to buy aggressively now since the market is not at buyable valuations. Since there is a risk off environment globally, FIIs are likely to sell at every bounce in the market. High quality stocks like leading financials may be bought in small quantities.Rupee depreciation, which may continue, will impart resilience to IT stocks.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

FOREX MARKET UPDATE: Rupee surges 20 paise to 77.24 against US dollar in early trade

STOCK IN NEWS: JSW STEEL

SECTOR WATCH

IT, Metal only sectoral losers in early trade on NSE

Voda Idea, YES Bank, Tata Power among most active stocks on NSE

Price as on 10 May, 2022 09:28 AM, Click on company names for their live prices.

Sensex Heatmap: Most index stocks in the green in opening trade

OPENING BELL: Sensex gains 100 points, Nifty50 at 16,330; Asian Paints jumps 3%, Ruchi Soya 2%

Pre-open session: Sensex slips 350 points, recovers; Nifty50 flat

Q4 results today

SGX Nifty signals a gap-down start

Nifty futures on the Singapore Exchange traded 145 points, or .89 per cent, lower at 16,146.50, signaling that Dalal Street was headed for a gap-down start on Tuesday.

Tech View: Nifty50 forms small bullish candle

Nifty50 on Monday saw a gap-down start, but the index managed to close above the opening level, forming a small bullish candle on the daily scale. The formation, made after a Doji in Friday’s trade, made some analysts hopeful, even as the index continued its lower-high low formations. Avoid shorts for now, they suggested.

Hong Kong shares slump more than 4% in early trade

Hong Kong’s benchmark share index returned from a one-day holiday sharply lower on Tuesday, slumping more than 4% as worries over higher interest rates and slowing economic growth sapped investor sentiment. The Hang Seng index fell as much as 4.11% in early trade, dragged lower by index heavyweights Alibaba Group Holding , Meituan and Tencent Holdings Ltd, which slumped between 4% and 7%.

S&P500 futures down 0.5%

S&P 500 stock futures and Dow Jones futures both fell 0.5% and Nasdaq futures were down 0.6%. Overnight, US stocks extended Friday’s bruising sell-off as investors rushed to protect themselves against the prospect of a weakening economy. Central banks in the United States, Britain and Australia raised interest rates last week and investors girded for more tightening as policymakers fight soaring inflation.

Asian stocks hit 2-year low on rate hike worries

Asian shares tumbled to their lowest in nearly two years on Tuesday as investors shed riskier assets on worries about higher interest rates and their impact on economic growth, while the dollar held near 20-year highs. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.8%, falling for a seventh straight session and extending declines to 17% so far this year. The Nikkei lost 0.9%, Australian shares shed 2.5% and Korean stocks lost 2%.

S&P500 ends below 4,000 for 1st time since March 2021

The S&P 500 ended below 4,000 for the first time since late March 2021 and the Nasdaq dropped more than 4% on Monday in a selloff led by mega-cap growth shares as investors grew more concerned about rising interest rates. The Dow Jones Industrial Average fell 653.67 points, or 1.99%, to 32,245.7, while the S&P 500 lost 132.1 points, or 3.20%, to 3,991.24, its lowest close since March 31, 2021. The Nasdaq Composite dropped 521.41 points, or 4.29%, to 11,623.25.

Rupee slumps to all-time low of 77.44 on forex outflows

Extending its losses for a second day, the rupee on Monday slumped by 54 paise to close at a record low of 77.44 against the US dollar, pressured by the strength of the American currency overseas and unabated foreign fund outflows. Forex traders said risk appetite has weakened amid rising bond yields in the US and mounting concerns about inflation that may trigger more aggressive rate hikes by global central banks.

Sensex, Nifty on Monday

Equity benchmarks began the week on a downbeat note on Monday, weighed by heavy selling in market heavyweight Reliance Industries and persisting weakness in global bourses. Slipping for the second straight session, the 30-share BSE Sensex shed 364.91 points or 0.67 per cent to close at 54,470.67. During the day, it tanked over 900 points to 53,918.02.Similarly, the NSE Nifty tumbled 109.40 points or 0.67 per cent to end at 16,301.85.

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