The Nifty IT index and the automotive index fell 1.1% and 0.5% respectively.
Broader Asian stocks also fell on Friday after US stocks suffered sharp losses overnight on fears of aggressive tightening by the Federal Reserve amid warnings of a global recession from the World Bank and International Monetary Fund.
Ratings agency Fitch earlier this week cut India’s full-year gross domestic product growth forecast to 7% from 7.8% amid a slowdown triggered by global economic stress, elevated inflation and tighter monetary policy.
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JUST IN: FMR LLC and FIL announce a 5.06% interest in Zomato
TechM, L&T Infotech, Mindtree among the top losers from the IT package
Price from 09/16/2022 10:55 a.mClick on company names for their live prices.
Godrej Properties announced on Friday that it has achieved sales bookings worth Rs 1,210 crore in its two new residential projects in Mumbai. Godrej Properties, part of the business conglomerate Godrej Group, is one of the leading real estate developers in the country.
Price from 09/16/2022 10:25 a.mClick on company names for their live prices.
UPL said it has acquired 26 percent stake in Clean Max Kratos Pvt Ltd, which is engaged in renewable energy. Clean Max was incorporated on July 28th with a paid up capital of Rs 1 lakh. The company, which specializes in generating solar/wind energy, has yet to start operations.
Price from 09/16/2022 10:14 a.mClick on company names for their live prices.
Top Sensex Drags: RIL, HDFC twins, IT stocks
Sensex extends falls, falls over 700 points
India’s current account deficit is likely to have risen to a near decade high
With the Indian rupee near a record low of around 80 against the US dollar and a worsening trade gap, concerns over the size of the current account deficit for Asia’s third largest economy, which has been eroding investor confidence for months, will intensify.
The median forecast in a Sept. 9-15 Reuters poll of 18 economists showed India’s current account deficit was $30.5 billion, or 3.6% of gross domestic product, in the most recent quarter, the widest in nine years.
BLOCK DEAL IN EMBASSY REIT: 1.45 Cr shares changing hands
Market assessment: Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Investors can wait and watch until the end of the September 21 Fed meeting.
Bank Nifty continues to be strong.
Bitcoin Below $20,000, Ether Breaks $1,500; Altcoins tank
Vedanta on Thursday issued a clarification that its proposed semiconductor manufacturing business will be acquired by its ultimate holding company, Volcan Investments Limited.
Price from 09/16/2022 09:26 amClick on company names for their live prices.
Vedanta, Voda Idea are among the most active stocks on the NSE
Price from 09/16/2022 09:24 amClick on company names for their live prices.
The successful close above the 79.60-79.70 region suggests the start of directional moves or at least range widening. This paves the way for 80.10-80.30 in the near term as long as 79.60 holds.
– Anand James – Chief Market Strategist at Geojit Financial Services on Rupee
Red Sea…all sectors are trading lower on opening trades
- IT continues to be at the bottom; Metal, car also bleed over 1% each
Sensex Heatmap: 27 out of 30 index stocks are trading with cuts
OPENING BELL: Sensex loses 400 points, Nifty approaches 17,750; Vedanta falls 6%, TechM 2%
Sensex loses 300 points, Nifty approaches 17,750 in pre-open session
Asian markets weaken as IMF and World Bank point to recession risks
Asian markets were weaker on Friday as investors braced for a US interest rate hike next week, amid concerns over a global recession following warnings from the World Bank and International Monetary Fund.
SGX Nifty signals a negative start
Slick futures on the Singapore Stock Exchange traded 111 points, or 0.62 percent, lower at 17,768, suggesting Dalal Street was heading for a negative start on Friday.
Tech View: Nifty50 forms a bearish candle
The Nifty failed to hold the 18,000 level on Thursday, closing with a bearish candle on the daily charts.
Tokyo stocks open lower, extending US losses
Tokyo stocks opened lower on Friday after Wall Street stocks tumbled, hit again by worrying economic data and concerns about the impact of more aggressive Federal Reserve measures next week.
Wall Street plunges amid rising Fed nervousness
Wall Street closed sharply lower on Thursday, extending losses in late afternoon trading as a slew of economic data failed to change the expected course of aggressive tightening by the Federal Reserve amid growing warnings of a global recession.
Oil extends losses on recession fears
Oil prices tumbled in early trade on Friday, extending the week’s losses as concerns over tight supply were outweighed by escalating fears of sharp rate hikes sapping global growth and hitting fuel demand.
The 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, weighed down by a firm US currency and a negative trend in domestic equities.
Sensex, Nifty on Thursday
The 30-stock Sensex package fell 412.96 points to end at 59,934.01. Its broader competitor, Nifty50, ended below the 17,900 mark.