At close, BSE Sensex was trading 346.89 points down at 62,622.24 and Nifty50 was trading 99.45 points down at 18,534.40.
New Delhi: Indian showing an uphill movement for the first two days of the week, Indian indices opened lower Wednesday amid mixed responses from US indices. Sensex opened at 62,839.97 (previous close: 62,969.13), climbed up to 62,876.77 and fell down to 62,401.02 during the day’s trade; Nifty, meanwhile, opened today at 18,594.20 (previous close: 18,633.85), touched a high of 18,603.90 and a low of 18,483.85 during the day’s trade.
At close, BSE Sensex was trading 346.89 points down at 62,622.24 and Nifty50 was trading 99.45 points down at 18,534.40.
Daily Market Commentary By Rajesh Sinha, Sr. Research Analyst, BONANZA PORTFOLIO LTD
- Indian rupee closed flat 82.72 per dollar against previous close of 82.72. Indian Rupee depreciated on weak domestic markets and a strong US Dollar.
- Disappointing PMI data from China impacted market sentiments. However, weak crude oil prices and FII inflows cushioned the downside.
- US Dollar gained amid rising expectations of a 25-bps rate hike in the June FOMC meeting and hawkish statements from most Fed officials.
- Crude oil prices was in red on today with NYMEX WTI crude oil trading down by 0.95% USD 68.84 per barrel. Crude oil price extended loss in today’s session after price declined more than 4.0% in the previous session as trades were concerned about weakening demand from top oil importer China after the release of weaker-than-estimated economic data.
- Gold price traded slightly down with spot gold at Commodity exchange trading lower by 0.04% at USD 1958 per ounce in the morning trade. Gold price is down almost 1.50% this month erasing gains made earlier in May when it surged to near a record on fears of a US default. Those concerns have been largely alleviated as President Joe Biden and Republican House Speaker Kevin McCarthy expressed confidence that lawmakers will pass legislation in time to avert such a scenario. Additionally, rally in the US dollar and bond yields weighed on the yellow metal.
SENSEX TOP GAINERS
- Bharti Airtel: 4.78 per cent
- Tech Mahindra: 2.08 per cent
- Asian Paints: 1.67 per cent
- Sun Pharma: 1.60 per cent
- Tata Motors: 1.47 per cent
SENSEX TOP LOSERS
- Axis Bank: -2.44 per cent
- SBIN: -2.07 per cent
- Reliance: -1.77 per cent
- HDFC: -1.67 per cent
- HDFC Bank: -1.57 per cent
- NTPC: -1.56 per cent
NIFTY TOP GAINERS
- Tech Mahindra: 2.33 per cent
- Bharti Airtel: 1.90 per cent
- Kotak Bank: 1.87 per cent
- SBI Life: 1.82 per cent
- Sun Pharma: 1.71 per cent
- Asian Paints: 1.61 per cent
- Tata Motors: 1.20 per cent
NIFTY TOP LOSERS
- ONGC: -3.24 per cent
- NTPC: -2.35 per cent
- Axis Bank: -2.13 per cent
- Reliance: -2.10 per cent
- HDFC: -1.81 per cent
- PowerGridCorp: -1.64 per cent
- HDFC Bank: -1.56 per cent
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