Sensex Falls 350 Points, Nifty Below 15,800; Asian Paints, Titan and Wipro Top Losers

Tue, 28 Jun 10:30 am

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Asian share markets opened lower today on profit-taking following a three-day advance, while inflation and recession concerns continue to weigh on sentiment.

The Nikkei fell marginally by 0.1% while the Hang Seng fell 0.9%. The Shanghai Composite is down 0.51%.

In US stock markets, Wall Street indices ended on a negative note on Monday, after soaring high last week on Friday.

A few catalysts to sway investor sentiment as they approach the half-way point of a year in which the equity markets have been slammed by heightened inflation worries and tightening Fed policy.

The Dow Jones fell 0.2% while the tech heavy Nasdaq also dropped 0.7%.

Back home, Indian share markets are trading on a negative note.

Benchmark indices opened in red following the trend on SGX Nifty and extended losses as the session progressed.

At present, the BSE Sensex is trading down by 342 points. Meanwhile, the NSE Nifty is trading lower by 107 points.

M&M, Maruti Suzuki and Dr Reddy's Lab are among the top gainers today.

Asian Paints, Titan and Wipro are among the top losers today.

Broader markets are also trading on a negative note. The BSE Mid Cap index is down by 0.8%. The BSE Small Cap index is trading lower by 0.9%.

Sectoral indices are trading in the red with the exception of auto, energy and oil and gas sectors. Stocks in the telecom sector and realty sector are witnessing most of the selling.

As markets head lower again, check out the high ROE stocks and high dividend yield stocks in the current market environment.

In the commodity markets, gold prices edged higher. Today, prices are up by Rs 295, trading at Rs 50,944 per 10 grams.

Meanwhile, silver prices are trading higher at Rs 60,676 per kg.

Crude oil prices gained nearly 1% while cryptos are also trading on a positive note.

The biggest crypto currency, Bitcoin is up by 1.3% while Ethereum is up by 5.6%.

Investors in crypto markets are not having a good night's sleep these days as coins continue to tumble in the face of a global market selloff and rising interest rates.

Many crypto exchanges have paused bitcoin withdrawals which lead to a sharp fall in the entire crypto market.

2022 is the year of volatility. Markets have been behaving wayward and investors have been losing money.

In these times, it becomes important to know where your funds should be place and to know what investment decisions will generate higher returns on the assets invested.

Ajit Dayal talks about asset allocation and making better investment decisions in the below video. Tune in to find out...

Speaking of stock markets, at times where share market has been consistently inconsistent, it is becoming increasingly difficult to predict the price pattern of any share.

Crude oil prices are falling and there are rumors that central banks may go slow on rising interest rates.

So no one know how long the stock market recovery will continue.

Hence, it becomes important to have a system in place where in your investments and returns both, can also be regularised. This is security is offered by Systematic Investment Plans (SIP).

Rahul Shah - Editor and Research Analyst at Equitymaster, explained how SIP would benefit an investor, if the investor invests in SIPs in the bull market.

He showed through the following chart how returns would have progressed if an investor would have held on to investment in SIP for a period of 15-18 months.

In news from the pharma sector, Cipla announced that it will buy additional tech in a tech company.

Drug maker Cipla on Monday said that it has agreed to acquire additional stake in digital tech company GoApptiv for Rs 259 m. Post completion of the deal, Cipla's total stake in GoApptiv will increase to 22.02% on a fully diluted basis.

The investment will be made in equity shares and compulsorily convertible preference shares and is likely to be completed within 30 days or such other date mutually agreed between the parties subject to fulfilment of necessary closing conditions.

The company's earlier investment in GoApptiv in June 2020 has yielded growth and expanded Cipla's channel reach across lower tier towns in India.

Cipla's MD and global CEO, Umang Vohra said,

• "This investment will further strengthen our partnership with GoApptiv enabling wider patient reach with affordable and quality drugs and end-to-end brand marketing and channel engagement across tier 2-6 towns in India,"

GoApptiv incorporated in 2013, is a digital tech-company engaged in the business of offering digital solutions to pharmaceutical companies for increasing patient reach.

It offers end to end business solutions including distribution, digital solutions, integrated brand sales management, digital marketing, patient support and healthcare data analytics, channel engagement etc., for healthcare companies.

In other news, Bank of Baroda is making it to the headlines in the banking sector. Bank of Baroda said it will Rs 50 bn by issuing long term infrastructure bonds.

On Monday, the board of directors met and approved the proposal of issuing long-term bonds for financing infrastructure projects and affordable housing worth to the tune of Rs 50 bn.

The money will be raised in single or multiple tranches during financial year year 2022-23.

These bonds shall be senior, unsecured and will not form part of capital of the bank, it said.

Following the news, the lender's share price is on the rise today. It is currently trading at Rs 100.8.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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