Live Stock Market Update: Sensex trading is down, Nifty is approaching 15,700; banks, metals hang around

Dollar finds its footing as traders turn to key US inflation indicator

The US dollar found support on Tuesday as investors looked at expected US inflation data later in the week after weaker-than-expected employment data eased but did not dissipate concerns about the anticipated reduction in the Federal Reserve’s monetary stimulus. The euro hit $ 1.2178, a rebound from a three-week low of $ 1.2104 set on Friday, but slightly below its 20-day moving average. The dollar also broke its DMA of 20 against the yen and rose 0.15% to 109.42 yen. The dollar index against a basket of six major currencies stood at 90.059, not far from 89.533, a 4.5-month low reached late last month. It is idling as investors try to assess the recovery and the US policy response. More here

Japan raises first quarter GDP due to less impact on domestic demand

Japan’s economy contracted at a slower pace than initially reported in the first quarter, due to more modest cuts in plant and equipment spending, but the coronavirus pandemic still took a heavy toll on aggregate demand. Separate data showed that bank lending growth slowed sharply in May, while real wages recorded the biggest monthly jump in more than a decade in April, a sign that the world’s third-largest economy was gradually weathering the blow. pandemic of last year. Among the mixed indicators are reassuring signs for policymakers, who fear that Japan’s recovery is lagging behind major economies that have deployed COVID-19 vaccines much faster and are able to reopen faster. The revised decline in gross domestic product (GDP) is mainly due to a smaller decline in government spending and investment spending, both of which declined less than initially thought, offsetting a slightly larger drop in the economy. private consumption. More here

Market Watch: Shubham Agarwal, CEO and Head of Research, Quantsapp Advisory

– Buy 560 strike call in Wipro with a stop loss at Rs 7.50 for a target of Rs 14.

– Buy 820 strike call from Berger Paints with a stop loss at Rs 15 for a target of Rs 26.

– Buy 1,260 strike call from Lupine with a stop loss at Rs 24 for a target of Rs 35.

Gold prices fall on strong dollar ahead of US inflation data

Gold prices edged down on Tuesday, weighed down by a slight rise in the dollar, as investors cautiously awaited U.S. economic data expected later this week to assess inflationary pressures and the Federal Reserve’s stance on the market. Monetary Policy. Spot gold was down 0.2% to $ 1,895.59 an ounce as of 3:15 GMT. US gold futures were flat at $ 1,898.60. The dollar index rose 0.1% against its rivals, making gold more expensive for other currency holders. More here

DHFL will be delisted from scholarships as part of the resolution plan

Dewan Housing Finance Corporation (DHFL) announced on Tuesday that its shares would be delisted from the stock exchanges after the acquisition by Piramal Group. CNBC-TV18 previously reported that the Mumbai bench of the National Company Law Tribunal (NCLT) had cleared the Piramal group’s resolution plan under certain conditions. The share rose 10 percent to Rs 22.85 per share after the news broke.

SEBI fines Franklin Templeton AMC and excludes Vivek and Rupa Kudva from securities market for 1 year

In a blow to Franklin Templeton Asset Management Company (FT-AMC), the Securities and Exchange Board of India (SEBI) banned the fund company from launching any new debt program for two years, while imposing a penalty of Rs 5 crore for regulatory violation in closing six debt programs last year. In its Monday order, the capital market regulator said the Franklin Templeton Mutual Fund violated the provisions of the mutual fund regulations as well as certain SEBI circulars. The market regulator also barred Franklin Templeton Asia Pacific (APAC) chief Vivek Kudva, his wife Rupa, MD of Omidyar Network India, from entering the securities market for a year. More here

Morning Market Quote from Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

“The broad market outperformance, while desirable, is getting a bit excessive. While Nifty is up 12.66% YTD, the Nifty Mid-cap and Nifty Small-cap indices are up 28.97 respectively. % and 35.77% YTD. The problem with the wider market is that the price fall would be disproportionate during a bearish phase, as the market as a whole lacks depth. The outperformance of the market as a whole is largely due to investors retail investors, especially the new generation of retail investors who entered the market after the foreclosure. Retail investors looking for low-quality securities in the broader market will face problems. Wider upheavals are inevitable. The ideal strategy would be to invest in mid and small caps through mutual fund SIPs “

Opening bell: Sensex opens flat, Nifty holds 15,750; banks, RIL dredge

India’s indices opened flat on Tuesday, following mixed indices among their global peers as gains in IT, FMCG and autos were limited by losses in banks, financials and RIL. At 9:18 am, the Sensex was up 6 points to 52,335 while the Nifty was up 8 points to 15,760. Larger markets, however, outperformed the indices with higher mid and small cap indices. about 0.3% each. On the Nifty50 index, NTP, HCL Tech, Infosys, Bajaj Finance and Tech Mahindra gained the most while SBI Life, Shree Cement, Tata Steel, Hindalco and JSW Steel led the losses.

Banks have identified 22 bad debts to be transferred to National ARC: IBA President

Banks have identified 22 non-performing assets to be transferred to the National Asset Reconstruction Company Ltd (NARCL) in the first phase, said on Monday Association of Indian Banks (IBA) chairman and CEO of Union Bank of India Rajkiran Rai. Over a period of time, the National ARC is expected to host bad debts of around Rs 2 lakh crore, Rai said during the Union Bank of India‘s earnings call on June 7. According to knowledgeable bank executives, these 22 accounts identified for transfer have over Rs 82,000 crore in circulation. The IBA president, however, said the amount could be close to Rs 89,000 crore when called. More here

RBI imposes a penalty of Rs 6-cr on BoI, PNB

The RBI on Monday imposed a penalty amounting to Rs 6 crore on the Bank of India and the Punjab National Bank for violating standards, including one related to “classification and reporting of fraud”. A penalty of Rs 4 crore was imposed on the Bank of India and Rs 2 crore on the Punjab National Bank. In a statement, the RBI said that the statutory inspection for prudential assessment (LSE) of the Bank of India was conducted with reference to its financial position as of March 31, 2019. More here

IndiGo sees a recovery in domestic traffic by the third quarter of FY22

IndiGo, led by InterGlobe Aviation Ltd, expects domestic air traffic levels to pick up by the third quarter of FY22, company CEO Rono Dutta said on the conference call after the results. The airline has seen a sharp drop in air traffic since March as the second wave of COVID-19 hit the country. While the country’s largest airline recorded daily air traffic of nearly 180,000 passengers with “strong daily bookings” through February, demand has started to decline since March. The international capacity rollout for IndiGo was also 30% of the pre-COVID capacity in January-March, as most flights were operated under airlift bubble arrangements and as charter flights. More here

MOCs keep gasoline and diesel prices unchanged today

Petroleum marketing companies (OMCs) kept fuel prices unchanged on Tuesday after raising them for two consecutive days. As a result, the price of gasoline and diesel was static at Rs 95.31 and Rs 86.22 per liter in the nation’s capital, according to Indian Oil Corporation, the country’s largest fuel retailer. In Mumbai, the price of gasoline remained unchanged at Rs 101.52 per liter on Thursday. The cost of diesel was stable at Rs 93.58 per liter. Gasoline and diesel prices are revised daily by oil marketing companies such as state-run Indian Oil, and any revisions are implemented starting at 6 a.m.

Oil drops again amid concerns over rebounding demand

Oil prices lost more ground on Tuesday as concerns over the fragile state of the global recovery in crude and fuel demand were bolstered by data showing that China’s oil imports fell in May. . Brent crude fell 11 cents, or 0.2%, to $ 71.38 a barrel at 0151 GMT, after falling 0.6% overnight. US oil fell 13 cents, or 0.2%, to $ 69.10 a barrel, after falling 0.6% in the previous session. “Chinese oil imports at a five-month low… would tend to confirm the weakness of the Asian market,” said Bob Yawger, director of energy futures at Mizhuo Securities. China’s crude imports fell 14.6% in May, from a high a year earlier, with daily arrivals at the lowest level this year as refinery maintenance limited demand for ‘oil purchases. More here

First up, here’s a quick catch up on what happened in the markets on Monday.

Indian indices closed Monday at a record close thanks to gains in energy, IT and banking stocks. Heavyweights RIL, TCS and ICICI Bank contributed the most to the indices. Sentiment was also lifted as some states eased lockdowns and daily COVID-19 cases in the country hit a two-month low. The Sensex finished up 228 points to its new closing high of 52,328 while the Nifty rose 81 points to a record close of 15,751. Broader markets outperformed benchmarks for the day with the mid and small cap indices up 1 to 1.6% each.

Welcome to CNBC-TV18 Marketplace Live Blog

Hello, readers! I’m Pranati Deva from the CNBC-TV18 market office. Welcome to our Market Blog, where we provide live and streaming news coverage of the latest developments in the stock market, business and economy. We’ll also provide you with instant feedback and guests from our stellar lineup of TV guests and in-house editors, researchers and journalists. If you are an investor, I wish you a great trading day. Good luck!