Sensex, Nifty end lower; Globus Spirits top losers

The Indian market opened lower today. Sensex fell 330 points at 52,688 and Nifty lost 126 points to 15,653 in early trade. Sensex ended up with 8 points lower at 53,018 and Nifty lost 19 points to 15,780 in volatile trade on Thursday. Tech Mahindra and the Bajaj twins were the top Sensex losers, falling to 2.09 per cent. Axis Bank, SBI, and Kotak Bank were the top Sensex gainers, rising to 1.74 per cent.

10: 44 am: Rupee hits a new record low of 79.11 against the US dollar.

The rupee fell by 5 paise to a new low of 79.11 against the US dollar in opening trade on Friday, as persistent foreign funds outflows weighed on investor sentiments.

The rupee was on a weak note at 78.99 against the American dollar, then lost ground to quote at 79.11 its all-time low level, registering a fall of 5 paise from the last close.

The rupee was down 3 paise to close at a new lifetime low of 79.06 against the US dollar on Thursday.

Sensex falls 674 points at 52,344 and Nifty loses 194 points to 15,586.

10: 00 am: Globus Spirits stock rose 4% on agreement with Tilaknagar Industries.

The shares of Globus Spirits Ltd went up over 4 per cent after the company said it would provide various services to the distillery assets of Tilaknagar Industries. The stock of Globus Spirits gained 4.31 per cent to Rs 955.75 against the previous close of Rs 916.30 on the BSE.

The stock is higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages. Shares of Globus Spirits have gained 32.2 per cent in a year, but lost 26.25 per cent in 2022.

There were 8,621 shares that changed hands on the BSE, which had a turnover of Rs 81.72 lakh.

The firm's market cap rose to 2,703. 28 crore.

The stock hit a 52 week high of 1,760 on January 14, 2022 and a 52 week low of Rs 650 on July 1, 2021.

H 1 of 2022 ended with the benchmark S&P 500 correcting sharply by 21% - the worst half since 1970. India has outperformed Nifty with only 9% correcting.

The prospects for H 2 appear to be better for markets with the economy showing signs of a gradual recovery despite global headwinds from RBI.

In the near-term, stock price movements in July will be in anticipation of better than expected Q 2 results in these segments. Metals stocks are likely to drop out of Q 1 because of the poor Q 1 results. Titan, M&M, Dr Reddy's top Sensex losers, fell to 2.79 per cent.

Sensex falls by 330 points at 52,688 and Nifty loses 126 points to 15,653 in early trade.

Nifty is holding a crucial support zone of 15,700 -- 15,750 and we may see an up move towards 16,000 if it continues to hold this support zone. The immediate support and resistance for Nifty are 15,600 and 15,900. The immediate support and resistance for the Bank Nifty are 32,800 and 33,750. The Indian market is likely to open lower as SGX Nifty fell 31 points to 15,691. The opening of the Indian market is predicted by the Singapore Stock Exchange.

Sensex ended up with 8 points lower at 53,018 and Nifty lost 19 points to 15,780 in volatile trade. The top Sensex losers were Tech Mahindra, Bajaj and the twins were up to 2.09 per cent. Axis Bank, SBI, and Kotak Bank were among the top Sensex gainers, rising to 1.74 per cent. Market breadth was negative with 1,369 stocks ending higher against 1,907 stocks falling on the BSE. The shares of 144 were unchanged. Banking stocks were the top sectoral gainers with BSE bankex ending 236 pts higher.