Nifty below 15,750; broader market outperforms
Published on Jun 14, 2022 09:26
The domestic equity barometers traded with limited losses in early trade. The Nifty traded below the 15,750 level. Banks, financials and realty stocks declined while metals and FMCG stocks edged higher.
At 09:23 IST, the barometer index, the S&P BSE Sensex, was down 205.74 points or 0.39% to 52,640.96. The Nifty 50 index fell 53.45 points or 0.34% to 15,720.95.
The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, fell 1.45% to 22.04.
In the broader market, the S&P BSE Mid-Cap index rose 0.27% while the S&P BSE Small-Cap index added 0.35%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1318 shares rose and 1097 shares fell. A total of 95 shares were unchanged.
Stocks in Spotlight:
Metropolis Healthcare fell 1%. With references to the various news items/articles appearing on various media platforms, the company said that given the evolving market conditions and industry requirements, Metropolis Healthcare continuously explores various strategic options/investment opportunities.
On account of this, the company keeps receiving inbound interest from financial institutions and companies part of the healthcare eco-system for a potential minority stake purchase in MHL. Promoters have no intention to exit the business and are in fact focused on strengthening the Metropolis brand.
Dynamatic Technologies jumped 4.44%. The company has won the contract to manufacture the Escape Hatch Door for Airbus A220 aircraft. The contract was placed by recently established Stelia Aeronautique Canada Inc., a subsidiary of Airbus Atlantic SAS.
WPIL rose 2.14%. The company has received an order from the government of West Bengal for execution of turnkey project in the district of South 24 Parganas. The contract is for an aggregate value of Rs. 430.87 crore to be completed over a period of 24 months.
The US Dow Jones futures were currently trading with a gains of 184 points, indicating a positive start to equities on Wall Street today.
Asian stocks traded lower on Tuesday after Wall Street hit a confirmed bear market milestone and bond yields struck a two-decade high on fears aggressive U.S. interest rate hikes would push the world`s largest economy into recession.
US equities tumbled on Monday, with the S&P 500 confirming it is in a bear market, as fears grow that the expected aggressive interest rate hikes by the Federal Reserve would push the economy into a recession.
Investors are looking ahead to Wednesday when the Fed is expected to announce at least a half-point rate hike. The central bank has already raised rates twice this year, including a 50-basis-point increase in May in an effort to stave off the recent inflation surge. The Fed could even raise rates by 0.75% this week following Friday`s CPI report, as per reports.
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