Stock Market LIVE: Indices turn flat amid volatility; FMCG up; Auto, Metal drag
Stock market today: Investors expect a breather from the downward trend.
Share Market LIVE Update: Benchmark indices started bright but have cut back on the gains amidst high volatility. FMCG index has made gains whereas Metal, Auto and Realty have lagged. Powergrid, Britannia and Cipla surge, whereas Hero MotoCorp, Adani Ports and Tata Steel lag.
Asian market mostly opened in the green as investors bargain-hunted following sharp falls in the previous session. Wall Street stocks fell again overnight as recession fears brought volatility to financial markets.
Gold, Crude, and Base Metal. An analyst’s views:
Gold: We expect gold to trade lower towards 48830 levels, a break of which could prompt the price to move lower to 48410 levels.
Crude: We expect crude to trade lower towards 6220 levels, a break of which could prompt the price to move lower to 6080 levels.
Base Metal: We expect copper to trade lower towards 620 levels, a break of which could prompt the price to move lower to 610 levels.
Rupee rises 37 paise to 81.30 against US dollar
The rupee appreciated 37 paise to 81.30 against the US dollar in early trade on Tuesday as the American currency retreated from its elevated levels.
At the interbank foreign exchange, the domestic unit opened at 81.45 against the dollar, then touched 81.30, registering a gain of 37 paise over its previous close.
On Monday, the rupee plunged 58 paise to close at an all-time low of 81.67 against the dollar.
Harsha Engineers IPO- Investors are rejoiceful
Shares of Harsha Engineers International Ltd rallied for the second straight day on Tuesday after making a strong market debut in the previous session. The stock gained more than 5% to ₹506 apiece on the BSE in early deals.Harsha Engineers shares on Monday ended over 47% higher against the issue price of ₹330 apiece. The company’s shares made their debut at ₹444, reflecting a jump of 34.5% against its IPO issue price on the BSE. During the day, it rallied 60% to ₹527.6.
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