Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian equity indices remained under pressure in the second half on Thursday with all the sectoral indices trading in the red. The 30-share BSE Sensex fell over 800 points to 61,799 and the NSE Nifty 50 tanked 1.14% to 18,414. After reaching a fresh record high on Wednesday, Nifty Bank dropped more than 500 points to 43,498 owing to profit booking. The fall comes as US Federal Reserve Chairman Jerome Powell signaled continuing rate hikes to combat inflation. The broader markets and sectoral indices also wiped their gains, with Nifty IT plunging over 2%. Rising covid cases in China also affected the market mood as the strict lockdown will hurt the global markets. The rising fear of the global economy slipping into recession may have forced investors to cash out.
Live Updates 16:10 (IST) 15 Dec 2022 Bank Nifty view
“The leader of the current bull market, Bank Nifty, witnessed an evening star candlestick formation and closed below its 9-DMA for the first time in two months. A 20-DMA of 43200 will act as an immediate support; below this, there is a risk of profit booking, where 42625 will be the next support level.”
– Santosh Meena, Head of Research, Swastika Investmart
15:49 (IST) 15 Dec 2022 Nifty top gainers, losers
Britannia Industries, Hero MotoCorp, NTPC, SBI Life and Sun Pharma were the day’s top gainers while TechM, Titan, Infosys, Grasim and Eicher Motors were Nifty 50’s top losers.
15:44 (IST) 15 Dec 2022 Sectoral overview
Nifty FMCG index declines three days in a row, Nifty Metal index snaps three day gaining streak. Nifty PSU Bank index sinks 1.5% from day’s high.
15:37 (IST) 15 Dec 2022 Nifty, Sensex see sharp fall in last hour of trade
The markets extended their losses intraday as Sensex gave up the 62,000 level, losing 800 points, settling at 61,799 while Nifty tanks 1.14% to close at 18,414 on the weekly F&O expiry.
14:52 (IST) 15 Dec 2022 Nifty, Sensex continue to drop
BSE Sensex and NSE Nifty extended their losses intraday as bears take over Dalal Street. Sensex gives up the 62,000 level, losing 794 points while Nifty tanks 1.14% to trade at 18,429.
12:49 (IST) 15 Dec 2022 Markets drop amid hawkish Fed
BSE Sensex and NSE Nifty continue dropping intraday, as Nifty sinks below 18,500 and Sensex sheds almost 500 points to touch a low of 62,173 as US Federal Reserve Chairman Jerome Powell hinted at continuing rate hikes to combat inflation.
12:18 (IST) 15 Dec 2022 Bank Nifty below 44,000
The Bank Nifty index snaps its two-day streak of hitting record highs, falls below the psychological level of 44,000 to trade at 43,902.
12:12 (IST) 15 Dec 2022 Silver expected to scale new highs in 2023
“Silver has gained around 22% in INR terms, and 24% in USD terms in the past 3 months. It has performed relatively well vs gold in 2022, with gains of over 7% YTD in dollar terms vs 2% for gold. In INR terms the gains are 11% vs 12% for gold. The prices have been rising as global central banks hinted at a slowdown in rate hikes. The demand for silver remains robust as it is an industrial commodity. Further, a shift to 5G technology and related upgrades, solar energy, and EVs will keep silver demand high in 2023. For silver to scale new highs in 2023 it is important to first cross March 2022 highs and then August 2020 highs. These levels will act as key resistance levels.”
– Colin Shah, MD, Kama Jewelry
11:38 (IST) 15 Dec 2022 Crude outlook
“WTI Crude oil rose for the third consecutive day gaining by 2.51% at the end of Wednesday’s close. Crude has now risen by almost 9% in the last three sessions as supply tightness took precedence over demand concerns. Additionally, weakness in the US Dollar Index has supported the recovery in prices from a low hit near $70/bbl. US Dollar weakened further as US Federal Reserve raised the benchmark rate by 50-bps slowing the pace of rate hike from 75-bps that was delivered in the last four meetings. This has put pressure on dollar supporting commodities denominated in dollars.”
– Ravindra V. Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities
10:34 (IST) 15 Dec 2022 Fed pause could come by mid-CY23
“The US Fed hikes the policy rate by 50bps to 4.25-4.5%, as expected. However, the FOMC members’ projections revise the peak rate higher to 5-5.25%. Notwithstanding some initial signs of weakening economy, the Fed continued to worry about strong labour market. Interestingly, although growth projection was revised down (to 0.5% from 1.2%) for CY23, the unemployment rate revisions were only marginal (4.6% to 4.4%). Overall, we are more convinced that while a Fed pause could come by mid-CY23, a cut is unlikely before CY24 now. ”
– Hemang Jani, Head of Equity Strategy, Motilal Oswal Financial Services
10:04 (IST) 15 Dec 2022 Nifty outlook
“Yesterday was full of optimism that was poised to carry Nifty into the 18,700-770 region. But we had no visibility past the same yesterday, given how oscillators were positioned for yesterday. This region will remain a barrier for upsides for now, and as maintained earlier, slippage below 18,560 would render the trend sideways, while collapse prospects need to be reconsidered only once in the 18,300-100 band.”
– Anand James, Chief Market Strategist, Geojit Financial Services
09:38 (IST) 15 Dec 2022 Nifty, Sensex start lower
The domestic indices opened lower among weak global cues and a hawkish US Fed. The NSE Nifty is down at 18,587, giving up the 18,600 level while Sensex is at 62,382, down by 0.47%.
09:10 (IST) 15 Dec 2022 Nifty, Sensex trade in red during pre-open
Domestic indices NSE Nifty and BSE Sensex trade lower during the pre-open amid negative global cues and a hawkish Fed. Sensex ended over 140 points lower at 62,530, while Nifty closed the pre-open session at 18,614, down 0.25%.
08:47 (IST) 15 Dec 2022 Senior Fed officials predict recession next year
“The Federal Reserve reinforced its inflation fight Wednesday by raising its key interest rate for the seventh time this year and signalling more hikes to come. The Fed boosted its benchmark rate a half-point to a range of 4.25% to 4.5%, its highest level in 15 years. The policymakers also forecast that their key short-term rate will reach a range of 5% to 5.25% by the end of 2023. Fed Chair Jerome Powell said it was too soon to talk about cutting rates as the focus is on making the central bank’s policy stance restrictive enough to push inflation down to its 2% goal.
The U.S. economy could slow to a crawl in 2023 and unemployment could jump to as high as 4.6%, as the Federal Reserve tries to clamp down on high inflation, the central bank’s latest forecast shows. For the first time, several senior Fed officials also predicted a recession next year.”
– Deepak Jasani, Head of Retail Research, HDFC Securities
08:18 (IST) 15 Dec 2022 Asian markets
On the Asia-Pacific stocks front, Japan’s Nikkei dropped 0.25% while Hong Kong’s Hang Seng index fell by 1.74%. The Shanghai Composite index trades down by 0.46% while South Korea’s KOSPI is lower by 0.4%.
08:05 (IST) 15 Dec 2022 US markets overnight
Overnight, spurred by the Fed’s hawkish tone, Wall Street wiped its gains to close in the red. Dow Jones and Nasdaq ended lower by 0.4% and 0.7% respectively, while S&P 500 settled down by 0.6%.
08:05 (IST) 15 Dec 2022 Stocks under F&O ban on NSE
Indiabulls Housing Finance, BHEL, Delta Corp, and GNFC are the four stocks under the National Stock Exchange’s F&O ban list for 15 December. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95% of the market-wide position limit.
08:04 (IST) 15 Dec 2022 FIIs net buyers
Foreign institutional investors (FIIs) net bought shares worth Rs 372.16 crore, while domestic institutional investors (DIIs) net purchased equities worth Rs 926.45 crore in the Indian share market on 14 December, according to the provisional data available on the NSE.