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US Fed holds rate, but says it would lower interest rate if economy weakens

US Fed holds rate, but says it would lower interest rate if economy weakens
Gains in shares of select banking heavyweights helped equity barometer Sensex close in the green on Wednesday, extending the gains into the second day in a row.
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12:10 AMShare

US yields fall after Fed signals rate cuts this year

US Treasury yields turned lower on Wednesday after the Federal Reserve held interest rates steady, as expected, but flagged possible rate cuts of as much as half a percentage point later this year. U.S. yields hit session lows after the Fed decision, with those on two-year notes hitting two-week troughs, after trading higher all day.
12:03 AMShare

Dollar drops after Fed holds rates steady, risk assets gain

The dollar weakened against other major currencies on Wednesday after the Federal Reserve held interest rates steady at its regular meeting, but signaled a possible rate cut of as much as a half a percentage point by the end of the year. Against the euro, the dollar was down 0.46% to $1.124 , and against the pound it was down 0.8% to $1.267. The dollar index, which measures the currency against a basket of six rivals, was down 0.51% to 97.148. The drop slowed however as the market digested the news and some initial losses were retraced.
12:03 AMShare

US Fed leaves interest rate unchanged, signals cuts possible later this year

The Federal Reserve indicated a readiness to cut interest rates for the first time in more than a decade to sustain a near-record U.S. economic expansion, citing “uncertainties” in their outlook. While Chairman Jerome Powell and fellow policy makers left their key rate in a range of 2.25% to 2.5% on Wednesday, they dropped a reference in their statement to being “patient” on borrowing costs and forecast a larger miss of their 2% inflation target this year.
08:33 PMShare

Wall Street climbs after Fed signals potential rate cuts

Wall Street rose on Wednesday after the Federal Reserve held interest rates steady, as expected, and signaled potential cuts later this year. Saying it "will act as appropriate to sustain" economic expansion, the central bank signaled rate cuts of as much as half a percentage point over the remainder of 2019. All three major indexes rose following the announcement.
07:04 PM

Podcast: Why D-Street failed to hold on to gains today?

Podcast: Why D-Street failed to hold on to gains today?
06:53 PM

Nifty continues to consolidate in a broad range between 11,650 and 12,000 levels with buying support at the lower end of the range. We expect a bounceback towards the 11,850-11,900 range from current levels. The health of the broader market continues to be weak and, hence, the pace of recovery is expected to remain slow. Private banking and cement stocks are expected to lead while metals and auto stocks are likely to see weakness

- Sahaj Agrawal, Head of Derivatives, Kotak Securities
06:52 PM

Sustaining above the 50-DMA on closing basis indicates that there can be a decent pullback attempts going forward, which will be confirmed on a close above 11,800 level. In that scenario, initially, a modest target of 11,920 can be expected. Traders are advised to avoid shorting the index whereas those with high-risk appetite can create a positional bet on the long side with a stop loss below 50 DMA on closing basis

- Muzhar Mohmmad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in
06:51 PM

Apart from a black body that occurred on the candles, no important formations were seen. We continue to expect the market to attempt more pullbacks

- Milan Vaishnav, Technical Analyst, Gemstone Equity Research and Advisory
06:50 PM

Nifty broke previous day’s low and surpassed the previous day’s high, but finally closed on a flat note. However, every bounce is getting sold into while every minor dips are getting bought into. The index is trying to respect its 50-day EMA for last three sessions on a closing basis. As long as it holds below 11,761 level, the upside will remain restricted. But a hold below 11,666 level could open Nifty to declines towards 11,600 and then 11,550 levels

- Chandan Taparia, Technical & Derivative Analyst, MOFSL
06:24 PM

Signs of capitulation in the Indian market are visible with across the board selling in high debt balance sheets. Today’s case is similar to traders in derivative segments wherein huge leverage hampers trading profits. Similarly, leveraged corporates are facing the same reality. No one makes money under a mountain of debt. Historically, such capitulation has signaled the end of bearish tendencies in the market. Nifty although may not reflect such a cycle, but small and mid-cap indices are revealing a clearer picture. Infact the small cap index has broken the Modi 2.0 gap area which is an ominous signal for the market

- Umesh Mehta, Head of Research, Samco Securitiesa
04:05 PM

Despite global trade optimism, domestic market failed to hold the opening gains due to concern over weakening economic data, lack of liquidity and deficit in monsoon. The earnings growth is likely to be downgraded further given the deteriorating situation. Seems that market will have to wait till the final budget which could be the testimony of the new plan.

- Vinod Nair, Head of Research, Geojit Financial Services
03:38 PM

CLOSING BELL

Sensex gives up most gains, ends 66 points higher; Nifty below 11,700; Jain Irrigation tanks 31%, Jet Airways 18%
CLOSING BELL
02:59 PM

Take note!

02:16 PM

OPEC, non-OPEC to meet next on July 1-2: OPEC website

OPEC, non-OPEC to meet next on July 1-2: OPEC website
02:01 PM

Apple mulls shifting 15-30% output from China: Agencies

Apple mulls shifting 15-30% output from China: Agencies
01:58 PM

Blue Star wins order worth Rs 253 crore from Mumbai Metro Rail Corporation

01:50 PM

Jain Irrigation, Jet Airways and Arvind among top 10 losers in afternoon session

01:01 PM

Australian shares end at best in over 11 years

<ul><li>Australian shares ended at their best since the global financial crisis on Wednesday, as investors took heart from the United States and China rekindling trade talks, expectations for lower US interest rates, and the European Central Bank's surprise dovish tilt. </li></ul> <br /><ul><li>The S&P/ASX 200 index climbed 1.2 per cent to 6,648.1, its highest since December 2007. It had risen 0.6 per cent on Tuesday when Australia's central bank had pointed to further policy easing in the future. </li></ul> <br /><ul><li>China is the biggest buyer of Australia's resource exports, so metals and mining stocks were the biggest gainers on the day, having added 1.6 per cent to a near 8-year best.</li></ul>
12:55 PM

M&M to hike price of its range of personal vehicles by up to Rs 36,000 from July 1

12:48 PM

Airtel Africa files application to list on Nigeria stock exchange: Agencies

Airtel Africa files application to list on Nigeria stock exchange: Agencies
12:41 PM

Arun Thukral makes a case for investing in SIPs

12:32 PM

Nifty breaches 11,700

Nifty breaches 11,700
12:18 PM

Federal Bank to raise up to Rs 500 cr through Basel III-compliant bonds

Private sector lender Federal Bank Wednesday announced plans to raise up to Rs 500 crore by issuing Basel III-compliant bonds on private placement basis.

"The board of the bank has approved the issuance of 1,000 unsecured, listed, redeemable Basel III compliant tier II bonds having a face value of Rs 10 lakh each, with an option to retain oversubscription up to Rs 400 crore aggregating to Rs 500 crore (debentures), on a private placement basis," Federal Bank said in a BSE filing.
11:38 AM

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11:06 AM

Pilots to join lenders in insolvency proceedings against Jet Airways

Jet pilots send demand notice to company for unpain due

Pilots to join lenders in insolvency proceedings against Jet Airways
10:56 AM

Are mid & smallcaps bottoming out?

10:55 AM

MVL, Lloyd Steels among top 10 gainers around 11 am

10:52 AMShare

Jain Irrigation shares sink 19%, plumb 52-week low

  • Shares of Jain Irrigation Systems cracked almost 19 per cent to hit their 52-week low at Rs 22.30 in Wednesday's session and looked on course to extend their losing streak into the fourth successive day.

  • The stock has been reeling under pressure on reports of defaults followed by rating downgrades.

  • India Ratings and Research downgraded the Jalgaon-based company’s long-term issuer rating to ‘IND BBB’ from ‘IND A-’ while placing it on ‘Rating Watch Negative’ (RWN).

  • Jain Irrigation shares fell 73 per cent in the last one year and ended at Rs 27.40 on Tuesday, down 21.15 per cent over the previous day.
10:45 AM

Tata Steel jumps 4%, on course to break 4-day losing streak

Shares of Tata Steel jumped 4 per cent in the morning session on Wednesday and looked on course to break their losing streak of the last four consecutive sessions.

The stock opened at Rs 480.20 on BSE and touched intraday high and low at Rs 492 and Rs 480.20 in Wednesday's trade so far.

Global financial firm Goldman Sachs has maintained a buy recommendation on the stock with a target price of Rs 570 per share even as steel spreads are weakening on global growth concerns.

Goldman highlighted that the domestic demand for steel is resilient but spreads are unlikely to bounce back.
10:22 AMShare

Can Fin Homes, Canara Bank jump up to 5% on stake sale reports

Shares of Can Fin Homes jumped over 5 per cent while those of Canara Bank climbed almost 2 per cent in morning trade on Wednesday after Canara Bank's board approved plan to sell part or full stake in housing finance subsidiary Can Fin Homes. Last year, Canara Bank had called off the move to divest its entire shareholding in housing finance subsidiary Canfin Homes after receiving lower than expected price quotation.
10:13 AM

Exchanges should bring more stocks into futures list over time: Samir Arora

10:11 AM

Maharashtra Scooters climbs 2% as Bajaj Holdings buys stake

Shares of Maharashtra Scooters climbed 2 per cent in early trade on Wednesday after Bajaj Holdings and Investment acquired 27 per cent stake in the company.

Maharashtra Scooters (MSL) the maker of the once popular Priya brand of scooters, has become a subsidiary of Bajaj Holdings and Investment (BHIL) following the Western Maharashtra Development Corporations (WMDC) transferring its 27 per cent stake in MSL to the company after a protracted legal battle.

"WMDC has transferred its 27 per cent stake in MSL to the Bajaj Holdings and Investment Ltd (BHIL) on June 17. With this, the company now holds 51 per cent shares in MSL, thereby making it a subsidiary of Bajaj Holdings," MSL said in a BSE filing.
10:01 AM

HCL Tech signs multi-year deal with Cricket Australia

09:58 AM

Fed governor commentary is expected to remain dovish and that could keep the greenback under pressure. Today, USDINR pair is expected quote in the range of 69.40 and 70.05-70.20

- Motilal Oswal Financial Services
09:41 AM

Jain Irrigation, RPower, YES Bank among most active stocks in early trade

09:20 AM

OPENING BELL: Sensex jumps 200 points, Nifty tops 11,750; Tata Steel gains 3%, Jet down 10%

OPENING BELL: Sensex jumps 200 points, Nifty tops 11,750; Tata Steel gains 3%, Jet down 10%
09:14 AM

Overall US rates to fall 100bps this year: Andrew Holland

09:14 AM

Tune in! Catch potential market movers in today's morning podcast

Tune in! Catch potential market movers in today's morning podcast
09:01 AM

Pre-open session: Sensex jumps 100 points, Nifty nears 11,750

Sensex jumps 100 points, Nifty nears 11,750; rupee opens at 69.56 against US dollar
08:59 AM

Singapore trading hints at a positive start

Around 6:50 am (IST), Nifty futures on the Singapore Exchange traded 62 points, or 0.53 per cent, higher at 11,774, indicating a positive start for Dalal Street.
08:59 AM

Tech view: Nifty forms a small bullish candle

Nifty50 ended a volatile session in the green on Tuesday and formed a small bullish candle on the daily chart. The session was technically important as the index managed to defend its 50-day moving average, which currently stands at 11,680, on a closing basis. Technical analysts expect Nifty to make some attempts to gain stability which may result into mild technical pullbacks. However, pullbacks are expected to remain limited.
08:59 AM

Asia stocks jump

Asia stocks jumped on hopes that Fed will at least open the door to future rate cuts if it does not do so today. The reports of US-China talks next week also gave a shot in the arms of the markets. Japan’s Nikkei rose 1.5 per cent and South Korea's Kospi 1.1 per cent.
08:59 AM

US stocks close higher

The Dow ended Tuesday's session with gains of 1.35 per cent, while the S&P 500 rose 0.97 per cent and the Nasdaq 1.39 per cent. The S&P 500 has gained 6 per cent so far this month to be 1 per cent from the all-time high hit in early May. All eyes are now upon the Fed which is scheduled to release a statement later today.
08:58 AM

Dollar near two-week high

The US dolalr hovered near a two-week high level ahead of Fed's monetary policy decision. The dollar index versus a basket of six major currencies was steady at 97.615 after climbing to 97.766 on Tuesday, its highest level since June 3, Reuters reported.
08:58 AM

Crude oil rises

Oil prices rose, extending gains from the previous session on rekindled hopes over a US-China trade deal and on continued tensions in the Middle East after tanker attacks there last week.
08:58 AM

FPIs buy Rs 32 crore worth equities

Foreign portfolio investors (FPIs) bought Rs 31.73 crore worth of domestic stocks on Tuesday, data available with NSE suggested. DIIs were net buyers to the tune of Rs 181.03 crore.
08:58 AM

Good morning, dear readers

Here's something to kickstart your day on Dalal Street today
Good morning, dear readers
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