Indian benchmark indices settled lower for the
fourth consecutive session on Wednesday, amid a mixed trend across global
markets as investors awaited the outcome of a key Fed meeting. Key indexes made a cautious start and swung between gains and losses throughout the session, as
unabated foreign fund outflows continued to weigh on the domestic equity
markets.
The Nifty50 has formed a small negative candle
on the daily chart with a minor upper shadow, according to Nagaraj Shetti,
Technical Research Analyst at HDFC Securities.
The 50-scrip index is struggling to show any
meaningful upside bounce from the crucial support zone of 15,600-15,700 levels,
said Shetti, who sees the possibility of one more leg of downside before a
bounce.
Also Read| Federal Reserve hikes rate by 75bps, highest since 1994
Sensex fell 152.18 points or 0.29% to
52,541.39 and the Nifty was down by 39.95 points or 0.25% to 15,692.15 in the
previous session. Sensex touched a high and low of 52,867.73 and 52,493.36,
respectively. There were 13 stocks advancing against 17 stocks declining on the
index. Nifty traded in a range of 15,783.65 and 15,678.90. There were 25 stocks
advancing against 25 stocks declining on the index.
Also Read| India inflation down by 0.75%: What it means for consumers
Broader Indices
The broader indices ended in green with the
BSE Mid cap index up by 0.52%, while the Small cap index rose 0.49%. On the
sectoral front, Auto was up by 0.90%, Industrials up by 0.60%, Capital Goods up
by 0.57%, Consumer Disc up by 0.57% and Healthcare up by 0.42%, while Power
down by 0.91%, Energy down by 0.82%, Oil & Gas down by 0.81%, Utilities
down by 0.79% and Metal down by 0.74% were the top losing indices on BSE.
India VIX Index
Nifty or India VIX, a gauge of the market’s
expectation of volatility over the near term, rose 1.19% to 22.15 on Wednesday.
Also Read| Wall Street enters bear market: What does it mean for investors
SGX Nifty
The trends on SGX Nifty indicate a flat
opening for the index in India with a 7 points loss. The Nifty futures were
trading at 15,808.80 on the Singaporean Exchange around 06:55 hours IST.
Support and Resistance levels
The key support level for the Nifty is placed
at 15,653, followed by 15,613. If the index moves up, the key resistance levels
to watch out for are 15,758 and 15,823, according to pivot charts.
The S&P 500 rose 54.51 points, or 1.46%,
to 3,789.99.
The Dow Jones Industrial Average rose 303.70
points, or 1.00%, to 30,668.53.
The Nasdaq rose 270.81 points, or 2.50%, to
11,099.15.
The Russell 2000 index of smaller companies
rose 23.31 points, or 1.36%, to 1,731.14.
Asian Markets
Asian markets ended mostly lower on Wednesday.
The Nikkei 225 fell 1.14%, the KOSPI Composite fell 1.83% while the Hang Seng
rose 1.14% and the Shanghai Composite rose 0.50%.
European Markets
European markets ended higher on Wednesday,
Germany’s DAX was up by 1.36%, France’s CAC 40 was down by 1.35% and London’s
FTSE 100 was down by 1.20%.
Also Read| Bill Gates says cryptocurrency, NFT based on “greater fool theory”
Major News Headlines
Rupee fell 18 paise to a fresh all-time low of
78.22 per USD dollar
The rupee tumbled 18 paise to settle at a new
all-time low of 78.22 against the US dollar on Wednesday amid a lacklustre
trend in domestic equities and persistent foreign fund outflows weighing on
investor sentiment. Investors also stayed on the sidelines ahead
of the US Federal Reserve’s policy decision. At the interbank foreign exchange
market, the local currency opened firm at 77.99 and finally settled at its
all-time low of 78.22, down 18 paise over its previous close of 78.04.
Also Read| How Russia-Ukraine war is behind highest US inflation spike since 1981
Yes Bank seeks shareholders approval for
raising up to Rs 10,000 crore debt capital
The private sector bank will seek
shareholders’ approval next month to raise debt capital of Rs 10,000 crore
through various modes on a private placement basis. The bank’s annual general
meeting is scheduled for July 15, 2022. The bank said it plans to borrow the
funds through debt securities including nonconvertible debentures, MTN
(Medium-Term Notes), and bonds (including forming part of tier I/II capital). It
may also include long-term infrastructure bonds or other securities,
including securities to be issued from its offshore branches and/or the IBU
(IFSC Banking Unit) situated at the GIFT City IFSC.
Also Read| Why US inflation is going up and when will it come down
SHIV NARAYAN BALDI HUF sold 30,00,000 shares
in Hindustan Motors Limited at Rs 26.75 per share on the NSE.
ARIHANT SHARE CONSULTANCY bought 50,00,000
shares in KBC Global Limited at Rs 4.40 per share on the NSE.
E WASTE RECYCLING PRIVATE LIMITED bought
130,00,000 shares in KBC Global Limited at Rs 4.40 per share as per NSE.
NOMURA SINGAPORE LIMITED bought 1,00,000
shares in Rama Steel Tubes Limited at Rs 371.00 per share as per NSE.
SEEMA AGGARWAL bought 64,000 shares in Supreme
Engineering Ltd at Rs 2.90 per share as per NSE.
Also Read| 5 reasons why Indian rupee had a great fall
Foreign institutional investors (FIIs) sold
shares worth a net Rs 3,531.15 crore, while domestic institutional investors
(DIIs) bought shares worth a net Rs 2,588 crore in the Indian equity market on
June 15, as per provisional data available on the NSE.
Also Read| RBI MPC meet: 10 highlights from Shaktikanta Das’ speech
Indiabulls Housing Finance, RBL Bank and Delta
Corp are under the F&O ban for June 16. Securities in the ban period under
the F&O segment include companies in which the security has crossed 95% of
the market-wide position limit.
