The Nifty IT Index and the Auto Index were down 1.1% and 0.5%, respectively.
Asian stocks broadly also fell on Friday, following sharp overnight losses in US equities on fears of aggressive tightening by the Federal Reserve on warnings of a global recession from the World Bank and International Monetary Fund.
Rating agency Fitch earlier this week cut India’s gross domestic product growth forecast for the current fiscal year from 7.8% to 7%, against the backdrop of a slowdown triggered by global economic stress, inflation high and tighter monetary policy.
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Adani Ports and Special Economic Zones (APSEZ) said on Thursday that its wholly-owned subsidiary, HDC Bulk Terminal Ltd, has signed a concession agreement with Syama Prasad Mookerjee Port Kolkata (SMPK) for the mechanization of a berth at Haldia Port.
Price as of September 16, 2022 11:33Click on company names to see their prices live.
Indian rupee comes under pressure as lower futures premiums spur importers to hedge
The Indian rupee may face more headwinds as a decline in the cost of buying dollars at a later date due to a drop in term premiums prompts more hedging from importers, analysts said on Friday. The 1y USD/INR implied forward yield, a measure of US and Indian interest rate spreads, has fallen to around 2.80% from around 4.6% since January.
ONLY IN: FMR LLC and FIL reveal a 5.06% stake in Zomato
TechM, L&T Infotech, Mindtree among top IT pack losers
Price as of September 16, 2022 10:55Click on company names to see their prices live.
Godrej Properties said on Friday that it achieved sales bookings worth Rs 1,210 crore at its two new housing projects in Mumbai. Godrej Properties, part of the Godrej Group business conglomerate, is one of the leading property developers in the country.
Price as of September 16, 2022 10:25Click on company names to see their prices live.
UPL said it has acquired a 26 percent stake in Clean Max Kratos Pvt Ltd, which is involved in renewable energy. Clean Max was incorporated on 28th July with a paid-in capital of Rs 1 lakh. The company, which is dedicated to solar/wind power generation, has not yet started operations.
Price as of September 16, 2022 10:14Click on company names to see their prices live.
Top Sensex Drags: RIL, HDFC Twins, TI Stocks
Sensex extends drops, drops over 700 points
India’s current account deficit likely jumped to a near-decade high
With the Indian rupee near a record low of around 80 per US dollar and a worsening trade gap, concerns about the size of the current account deficit for Asia’s third-largest economy, eating into investor confidence for months, they will intensify.
The median forecast in a September 9-15 Reuters poll of 18 economists showed India’s current account deficit in the latest quarter was $30.5 billion, or 3.6% of gross domestic product, the oldest in nine years.
BLOCK DEAL IN EMBASSY REIT: 1.45 cr shares change hands
Market View: Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Investors can take a wait-and-see attitude until the Fed meeting ends on September 21.
Bank Nifty continues to be strong.
Bitcoin Below $20K, Ether Above $1,500; alt coin tank
Vedanta issued a clarification on Thursday stating that the proposed semiconductor manufacturing business will be taken over by its latest holding company, Volcan Investments Limited.
Price as of September 16, 2022 09:26Click on company names to see their prices live.
Vedanta, Voda Idea among the most active actions in NSE
Price as of September 16, 2022 09:24Click on company names to see their prices live.
The successful close above the 79.60-79.70 region hints at the start of directional moves, or at least an expansion in trading ranges. This paves the way for 80.10-80.30 in the short term as long as 79.60 holds.
– Anand James, Chief Market Strategist at Geojit Financial Services on Rupee
Sea of red… all sectors are trading lower on open deals
- IT continues to be among the worst performers; metal, auto also bleeds more than 1% each
Sensex heat map: 27 of 30 indexed stocks trade with cuts
OPENING BELLS: Sensex sheds 400 points, Nifty closes in at 17,750; Vedanta falls 6%, TechM 2%
Sensex drops 300 points, Nifty approaches 17,750 in pre-open session
Asian markets weaken as IMF and World Bank signal recession risks
Asian markets were weaker on Friday as investors braced for a US rate hike next week amid growing concerns of a global recession following warnings from the World Bank and International Monetary Fund. .
SGX Nifty signals a negative start
Nifty futures on the Singapore Stock Exchange traded 111 points, or 0.62 percent, at 17,768, indicating that Dalal Street was headed for a negative start on Friday.
Tech View: Nifty50 forms a bearish candlestick
The Nifty failed to hold onto the 18,000 levels on Thursday and closed with a bearish candlestick on the daily charts.
Tokyo stocks open lower, extending US losses.
Tokyo stocks opened lower on Friday after Wall Street shares fell, hit again by worrying economic data and concerns about the impact of more aggressive action from the Federal Reserve next week.
Wall Street falls amid Fed tightening jitters
Wall Street closed sharply lower on Thursday, extending its losses in afternoon trading as a series of economic data failed to alter the expected course of aggressive tightening by the Federal Reserve amid mounting global recession warnings.
Oil widens losses on recession fears
Oil prices fell in early trading on Friday, extending the week’s losses, as supply tight concerns were outweighed by growing fears of sharp interest rate hikes hitting global growth and demand. made out of fuel.
Rupee falls 19 paise to 79.71 against the US dollar
The rupee fell 19 paise to close at 79.71 against the US dollar on Thursday, pressured by a firm US currency and a negative trend in domestic stocks.
Sensex, Nifty on Thursday
The pack of 30 Sensex shares fell 412.96 points to close at 59,934.01. Its broadest pair, Nifty50, finished below the 17,900 level.