Barometers trade near flat line, Nifty above 15,800 level

29 Jun 2022 , 01:36 PM

The headline equity indices traded near the flat line with minor cuts in the afternoon trade. After hitting the days low at 15,687.80 in early trade, the Nifty managed to recoup losses and hovered above the 15,800 level. Oil & gas, metal and media stocks were in the green while FMCG, banks and financial services stocks corrected. At 13:30 IST, the barometer index, the S&P BSE Sensex, was down 62.48 points or 0.12% to 53,114.97. The Nifty 50 index fell 27.80 points or 0.18% to 15,822.40. In the broader market, the S&P BSE Mid-Cap index fell 0.79% while the S&P BSE Small-Cap index up 0.01%. The market breadth was negative. On the BSE, 1,551 shares rose and 1,632 shares fell. A total of 160 shares were unchanged. Gainers & Losers: NTPC (up 3.60%), Reliance Inidustries (RIL) (up 1.95%), Sun Pharmaceutical Industries (up 0.69%), Ultratech Cement (up 0.69%) and Shree Cements (up 0.68%) were major Nifty gainers. HDFC Life Insurance Company (down 3.60%), Hindustan Unilever (HUL) (down 2.35%), Titan Company (down 2.03%), SBI Life Insurance Company (down 1.99%) and IndusInd Bank (down 1.95%) were majority Nifty losers. Reliance Inidustries (RIL) rose 1.95%. RILs digital arm Reliance Jio Infocomm has reportedly approved the appointment of Akash Ambani, its non-executive director, as the chairman of the company. Mukesh Ambani has stepped down as the companys director, effective from the close of working hours on June 27. Mukesh Ambani will continue to be the chairman of Jio Platforms Ltd, the flagship company that owns all Jio digital services brands, including Reliance Jio Infocomm, the reports added. Global Markets: Shares in Europe and Asia declined across the board on Wednesday after Wall Streets negative performance on Tuesday. Meanwhile, China cut the quarantine period for international travelers on Tuesday, in a step away from its strict Covid controls that have been in place for more than two years. People arriving from overseas will now need to quarantine for seven days upon arrival and three days at home, compared to up to 21 days in a centralized facility previously. Retail sales in Japan rose 3.6% in May compared to a year ago, a third consecutive month of growth, government data showed. South Koreas consumer sentiment index fell, standing at 96.4 for June 2022, down 6.2 points from Mays print, according to Bank of Koreas survey. US stocks fell sharply on Tuesday after a report showed US consumer confidence dropped in June amid concerns about inflation, while oil prices gained for a third day. US Federal Reserve policymakers on Tuesday promised further rapid interest-rate hikes to bring down high inflation, but pushed back against growing fears among investors and economists that sharply higher borrowing costs will trigger a steep downturn, as per reports. On the macro front, the consumer confidence index fell to a reading of 98.7, down from 103.2 in May, according to The Conference Board. The Conference Board also said 12-month inflation expectations for its consumer confidence survey were at 8% for June, the highest level in data going back to August 1987. Powered by Capital Market – Live News