Today’s Sensex: Live Stock Market Updates: Sensex is up 650 points, Nifty is above 16,500; Zomato and Infosys are up 3% each; The metal can lasts under pressure
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Spirit: pre-open list
- BSE: 830 rupees (5% less)
- NSE: Rs 825 (6% less)
The market is preparing for a rally in the near term. The sharp rally in the Nasdaq and S&P 500 late last week suggests a near-term trend reversal. Lower dollar index and US 10-year bond yields are risk-positives especially in emerging markets. The defeated IT sector is likely to see a good comeback with the help of short selling. Finance, especially the leading banks, has more room to climb with the help of delivery-based investment buying. However, the price of Brent crude at $120 represents a headwind on a macroeconomic level.
– Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Future Consumer, Vodafone Idea and Adani Power are among the most active stocks on NSE
Price on May 30, 2022 09:27 AMClick on company names to see their live prices.
Sensex today LIVE: IT stocks are the top gainers in early morning trading
Sector Watch: Except for Nifty Metal, all indices in NSE are trading in green
Opening bell: Sensex rises 650 points, Nifty tops 16,500; Zomato and Infosys price up 3% each
Forex Update: Rupee opens at 77.52/$ against Friday’s close at 77.56/$
Oil rises ahead of EU meeting on Russia sanctions
Oil prices rose to a two-month high on Monday as traders waited to see if the European Union would reach an agreement on a Russian oil embargo ahead of a meeting on the sixth package of sanctions against Moscow over its invasion of Ukraine. Brent crude futures rose 46 cents, or 0.4%, to $119.89 a barrel at 0111 GMT, while US West Texas Intermediate crude futures jumped 60 cents, or 0.5%, to $115.67 a barrel, continuing strong gains from last week.
SGX Nifty indicates a positive start
Nifty futures on the Singapore Stock Exchange traded 123 points, or 0.75 percent, up at 16,460, indicating that Dalal Street is headed for a positive start on Monday.
Tech View: Nifty breaches the 20-day SMA, faces a hitch at 16,400
On Friday, Nifty50 broke out of the 20-day Simple Moving Average (SMA) and settled above the 16,350 level and formed a bullish candle on the daily chart and a “Hammer” candle on the weekly chart, hinting at a reversal ahead. Analysts said that a close above 16400, the upper end of the ongoing consolidation range, could open the door to an upside move towards 16750. Downside support appears at 15900 and 15700 levels.
Hong Kong and mainland stocks start with healthy gains
Shares in Hong Kong and mainland China opened higher on Monday, in line with gains across Asia and after another rally on Wall Street, with confidence boosted by the easing of long-standing Covid restrictions in Shanghai. The Hang Seng Index rose 1.14 percent, or 236.14 points, to 20,933.50 points. The Shanghai Composite Index rose 0.37 percent, or 11.72 points, to 3,141.96 points, while the Shenzhen Composite Index on China’s second bourse rose 0.49 percent, or 9.66 points, to 1964.69.
Tokyo Stock Exchange opens higher, tracking US gains
The Tokyo Stock Exchange opened at the open Monday, extending gains on Wall Street, with investors shifting their focus to global economic indicators scheduled for this week. The Nikkei 225 index rose 1.21 percent, or 323.48 points, to 27,105.16 in early trading, while the broader Topix index rose 1.01 percent, or 19.03 points, to 1906.33 points.
US stocks rise, Treasury yields fall on inflation data
US stocks enjoyed a broad-based rally on Friday, while the yield on benchmark US Treasuries fell after data showed that US consumer spending rose in April and the rise in inflation slowed, two signs that the world’s largest economy may be on track for growth this quarter. . The Dow Jones Industrial Average increased 575.77 points, or 1.76%, to 33,212.96, the Standard & Poor’s 500 increased 100.4 points, or 2.47%, to 4,158.24 points, and the Nasdaq Composite increased 390.48 points, or 3.33%, to 12,131.13.
Rupee inches 3 pounds higher to 77.58 to the dollar
The rupee rose 3 pounds to close at 77.58 against the US dollar on Friday, boosted by positive local stocks and a weak US currency abroad. Forex traders said the rupee consolidated in a narrow range as higher crude oil prices, fiscal deficit concerns and continued outflows from the manufacturing division weighed on the domestic unit. In the interbank forex market, the rupee opened at 77.60 against the dollar and moved in a range of 77.57 to 77.67 in today’s trading.
Sensex, Nifty on Friday
The main indexes of Indian stock markets, Sensex and Nifty, rose more than one percent on Friday, led by strong buying support in information technology, banking and capital goods shares. The 30-point S&P BSE Sensex Index rose 632.13 points, or 1.17 percent, to close at 54,884.66 points, versus the previous day’s close at 54,252.53 points. The broader Nifty 50 index of the National Stock Exchange closed up 182.30 points, or 1.13 percent, at 16,352.45 points, compared to the closing of the previous session at 16,170.15 points.