Nifty below 15,950 mark, broader market underperforms

14 Jul 2022 , 02:40 PM

The benchmark indices traded with modest losses near the days low in the mid-afternoon trade. The Nifty traded a tad above the 15,900 level. Barring BSE Healthcare index all the sectoral indices on the BSE were trading lower. At 14:30 IST, the barometer index, the S&P BSE Sensex, was down 184.38 points or 0.34% to 53,329.77. The Nifty 50 index fell 58.10 points or 0.36% to 15,908.55. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.91% while the S&P BSE Small-Cap index declined 0.97%. The market breadth was weak. On the BSE, 1,155 shares rose and 2,107 shares fell. A total of 141 shares were unchanged. Domestic equities mirrored the weakness in their global peers after the US consumer inflation leapt to a four-decade high of 9.1% in June, adding pressure on the Federal Reserve to adopt a more aggressive monetary policy to tame the red-hot inflation. Economy: Indias inflation based on wholesale price index (WPI) stood at 15.18% in June 2022 compared with 12.07% in June 2021. The high rate of inflation in June, 2022 is primarily due to rise in prices of mineral oils, food articles, crude petroleum & natural gas, basic metals, chemicals & chemical products, food products etc. as compared to the corresponding month of the previous year, the Ministry of Commerce & Industry said in a statement today. The WPI grew 15.88% in May 2022, while the figure for April was 15.38%. WPI for the month of July 2022 will release on 16 August 2022. Meanwhile, The Maharashtra government has reduced the prices of petrol and diesel by Rs 5 per litre and Rs 3 per litre respectively, the states chief minister Eknath Shinde said on Thursday, 13 July 2022. The price of petrol in Mumbai was at Rs 111.35. It will now cost 106.35. Diesel price was at Rs 97.28. It will now cost Rs 94.28. Numbers to Track: The yield on Indias 10-year benchmark federal paper rose to 7.397 as compared with 7.337 at close in the previous trading session. In the foreign exchange market, the rupee was lower against the dollar. The partially convertible rupee was hovering at 79.8825, compared with its close of 79.81 during the previous trading session. MCX Gold futures for 5 August 2022 settlement declined 0.75% to Rs 50,420. The US Dollar index (DXY), which tracks the greenbacks value against a basket of currencies, increased 0.63 % to 108.64. In the commodities market, Brent crude for September 2022 settlement rose $1.20 or 1.21% at $98.37 a barrel. Buzzing Index: The BSE Metal index fell 1.25% to 15,959.14. The index rose 0.83% in the past trading sessions. NMDC (down 4.02%), National Aluminium Company (down 2.41%), Steel Authority of India (down 1.9%), Vedanta (down 1.85%), APL Apollo Tubes (down 1.7%), JSW Steel (down 1.52%), Coal India (down 0.96%), Tata Steel (down 0.7%), Hindalco Industries (down 0.4%) edged lower. Powered by Capital Market – Live News