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May 12, 2022 / 03:50 PM IST

Closing Bell: Nifty manages to hold 15,800, Sensex plunges 1,158 pts; all sectors in the red

All the sectoral indices ended in the red with capital goods, auto, bank, metal, oil & gas, power, FMCG, pharma, realty indices down 1-4 percent.

  • IndexPricesChangeChange%
    Sensex53,010.1679.85 +0.15%
    Nifty 5015,844.2036.20 +0.23%
    Nifty Bank33,292.15-240.00 -0.72%
    Nifty 50 15,844.20 36.20 (0.23%)
    Fri, May 13, 2022
    Biggest GainerPricesChangeChange%
    Tata Motors404.7532.45 +8.72%
    Biggest LoserPricesChangeChange%
    Hindalco385.65-20.20 -4.98%
    Best SectorPricesChangeChange%
    Nifty Auto10450.20285.80 +2.81%
    Worst SectorPricesChangeChange%
    Nifty Metal5314.60-111.30 -2.05%


  • May 12, 2022 / 04:35 PM IST

    Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities:
     
    Markets continued to remain under pressure in sync with global markets slump, as worries of more interest rate hikes coupled with sluggish economic growth going ahead weighed on sentiment. 

    The ongoing conflict and lockdowns in China due to virus spread is promoting investors to shun equities. 

    For Nifty50, short term sentiment remains weak with resistance placed at 16400 levels – no strong reversal attempt and confirmation is seen yet.  Medium term trend support is placed at 15500 – breach of the same can have significant implications for the short term.

  • May 12, 2022 / 04:30 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    Yesterday’s release of higher-than-expected US CPI data suggests that the inflationary pressure will persist in the near term. 

    However, it is presumed to have peaked and will gradually decline in-line with the ongoing fall in crude and other commodity prices, and slowdown in the economy. 

    The Fed surprised the market with a hawkish stance, limiting liquidity, which limits further setbacks in the future. We can expect the market to stabilize as FIIs may reduce selling factoring inflation & Fed 

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  • May 12, 2022 / 04:17 PM IST

    Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities

    Markets continue to remain under pressure in sync global markets. For Nifty50, short term sentiment remains weak with resistance placed at 16400 levels – no strong reversal attempt and confirmation is seen yet.  

    Medium term trend support is placed at 15500 – breach of the same can have significant implications for the short term.

  • May 12, 2022 / 03:38 PM IST

    Rupee Close:

    Indian rupee ended 19 paise lower at 77.42 per dollar on Thursday versus Wednesday’s close of 77.23.

  • May 12, 2022 / 03:36 PM IST

    S Ranganathan, Head of Research at LKP securities:

    Benchmark Indices wilted 2.5% in afternoon trade on the back of weak global cues as investors booked gains unable to set right the puzzle around Oil, War, Currency, Inflation & Interest rates. 

    Expectations of high CPI for April coupled with margin pressures seen in fourth quarter earnings is further accentuating the selling pressure in equities which was evident in the number of stocks hitting yearly lows today as the Sensex broke 53K with all sectoral indices ending deeply in the red. 

    With safe-heaven flows pushing the dollar index to twenty year highs, investors now seem to be pinning their hopes on a resolution to the conflict at the earliest.

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  • May 12, 2022 / 03:34 PM IST

    Market Close: Benchmark indices continued the selling on the fifth consecutive session on May with Nifty finishing around 15800.

    At close, the Sensex was down 1,158.08 points or 2.14% at 52,930.31, and the Nifty was down 359.10 points or 2.22% at 15, 808. About 747 shares have advanced, 2542 shares declined, and 84 shares are unchanged.

    Adani Ports, IndusInd Bank, Tata Motors, Tata Steel and Hindalco Industries were among the top Nifty losers, while Wipro was the only gainer.

    All the sectoral indices ended in the red with capital goods, auto, bank, metal, oil & gas, power, FMCG, pharma, realty indices down 1-4 percent.

    Among broader indices, the BSE midcap and smallcap indices shed 2 percent each.

  • May 12, 2022 / 03:27 PM IST

    Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers:

    Indian equity benchmarks opened in red following weak trade in Asian market peers as global stocks struggles for rebound after higher U.S. inflation report. 

    During the afternoon session markets further weakened dragged by Metal, Power and Utilities shares and ahead of domestic retail inflation numbers. 

    Traders were also cautious as reports cited the RBI could again hike rates in June policy meet to fight inflation pressures and shore up rupee.

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