Sensex Today: Live Stock Market Updates: Sensex at Daily Low, Still Down 350; Clever Tests 16,900; broader markets fall in tandem


Stock Market Today Live Updates: Indian stocks fell on Wednesday, dragged down by banks and metals companies, as risk sentiment weakened on worries of a global recession.

Asian stock markets fell on Wednesday as soaring borrowing costs stoked fears of a global recession, spooking investors into the arms of the safe-haven dollar.

Indian investors await the monetary policy decision from the Reserve Bank of India, which begins its three-day policy meeting on Wednesday.

The metals index fell 1.5%, while the banks index fell 1%.

Motherson Sumi Wiring India shares rose 5.2% after the company said it would consider a free share issue proposal.

Foreign institutional investors on Tuesday sold 28.24 billion Indian rupees ($345.63 million) of Indian shares, while domestic investors bought shares for 35.05 billion rupees, according to preliminary data available from of the National Stock Exchange.

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Godrej Properties, the property development arm of the Godrej Group, has acquired a 7-acre plot of land at the Indiranagar extension in Bengaluru. The land has a total development potential of around 6 lakh square feet and an estimated reservation value potential of Rs 750 crore.

Price as of Sep 28, 2022 10:01 a.m.Click on company names for their live prices.

L&T Metro Rail (Hyderabad), a subsidiary of infrastructure major Larsen & Toubro, has entered into a pact with Brookfield Group to transfer approximately 15 acres of land in the information technology and engineering consultancy city of Hyderabad ( HITEC City) to the global institutional investor, two people said. with direct knowledge of development.

Price as of Sep 28, 2022 10:00 AMClick on company names for their live prices.

Pondy Oxides shares traded ex-bonus on Wednesday. The chemical company had announced a 1:1 bonus issue in August. Since the announcement of the bonus issue, the scrip has rebounded more than 50%.

Price as of Sep 28, 2022 09:53Click on company names for their live prices.

Ahmedabad-based Torrent Pharmaceuticals Limited has entered into a definitive agreement to acquire 100% of skincare maker Curatio Healthcare for Rs. 2,000 crores.

Price as of Sep 28, 2022 09:40Click on company names for their live prices.

Market View: Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Globally, stock markets are in bearish territory. The Nasdaq is down 33.2% from the peak and the S&P 500 is down 24.3% from the peak. The Euro Stoxx 50 is down 24.3% from its high. These are clear bearish signals coming from developed world markets. India is a distinct outlier with a drop of just 8.5% from the Nifty high. India can continue to outperform thanks to its strong fundamentals, but India cannot remain immune to global megatrends.

The texture of the market has changed from “buy on dips” to “sell on rallies” and therefore investors should be cautious in the market now. The Bank Nifty has corrected sharply by 8% from its recent high and is weak now. IT should remain resilient, supported by currency tailwinds. Automobiles and capital goods can slowly accumulate on the declines. Given that valuations in India continue to be elevated relative to their peers, investors could brace for further corrections in this downside scenario. A sharp turnaround in global market sentiment will only occur when data points to lower US inflation.

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

Price as of Sep 28, 2022 09:26Click on company names for their live prices.

OPENING BELL: Sensex down over 450 points, Nifty below 16,900; Torrent Pharma drops 5%, HDFC Bank 2%

INDIAN RUPEE OPENS AT RECORD LOW DOWN 0.39% TO 81.8800 FOR THE US DOLLAR; PREVIOUS CLOSE 81.5800

Pre-open session: Sensex drops over 400 points; Clever below 16,890

Asian markets spooked by recession risks, dollar climbs

Asian stock markets fell on Wednesday as soaring borrowing costs stoked fears of a global recession, spooking investors into the arms of the safe-haven dollar and pushing the Chinese yuan to record highs.

SGX Nifty reports a negative start

Nifty futures on the Singapore Stock Exchange traded 116 points, or 0.68%, at 16,939, signaling Dalal Street was heading for a negative start on Wednesday.

Tech View: Is range-limited Nifty scary?

The shrewd bulls managed to protect the 200-DMA at 16,992.5 on a closing basis, as the overall stock index finished just 9 points lower above the psychologically important 17,000 level. On the daily charts , a negative candle, placed next to the similar negative candle from the previous session, formed on Tuesday.

Tokyo stocks open lower after mixed US close

Shares in Tokyo opened lower on Wednesday after a mixed end to Wall Street as the S&P 500 hit a new low for the year. The benchmark Nikkei 225 was down 0.98%, or 261.70 points, at 26,310.17 in morning trade, while the broader Topix index was down 0.78%, or 14 .65 points, at 1,858.36.

S&P 500 falls to two-year low, bear market rally dies out

The S&P 500 fell to its lowest level in nearly two years on Tuesday on concerns over the Federal Reserve’s super-aggressive policy tightening, trading below its June low and leaving investors to gauge how much more stocks are expected to decline before stabilizing.

Oil prices mixed as Hurricane Ian output cuts support, dollar weighs

Oil prices were mixed at the start of Asian trading on Wednesday, with support for U.S. production cuts caused by Hurricane Ian facing the construction of crude stockpiles and a strong dollar. Brent crude futures fell 4 cents, or 0.1%, to $86.23 a barrel at 0022 GMT, while US West Texas Intermediate (WTI) crude futures rose by 22 cents to $78.03 a barrel.

The rupee rises 14 paise to close at 81.53 against the US dollar

The Rupee consolidated in a tight range and settled 14 paise higher at 81.53 against the US Dollar on Tuesday as the US currency retreated from its high levels.

Sensex, Nifty on Tuesday

The 30-stock Sensex fell 37.70 to finish at 57,107.52. Its broader counterpart, Nifty50, finished at 17,007.40, down 8.90 points. It was the 5th straight day of losses triggered after the Fed met the result on September 21.

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