Heavy selling is being seen in the domestic stock market. There is a sharp decline in Sensex and Nifty today amid weak global cues. Sensex has broken more than 650 points. Nifty also came down to 16300 in trading. There is all-round selling in the market and weakness is visible in every sector. On the Nifty, more than 1 percent weakness is seen in the bank and financial index. While the IT index has broken 2 per cent. All indices including FMCG, Auto, Metal, Pharma and Realty are in the red mark. At present, there is a weakness of 647 points in the Sensex and it is trading at the level of 54673. Whereas Nifty is trading at the level of 16309 by breaking 170 points. Heavyweight stocks are selling. 26 stocks of Sensex 30 are seen in red mark. Today’s top losers include WIPRO, TECHM, INFY, KOTAKBANK, TATASTEEL, HDFC, BAJFINANCE, SUNPHARMA and TCS.
Talking about global cues, selling is being seen in major Asian markets in today’s business. At the same time, on the first Thursday, the US markets also closed on a decline. There was a slight softening in Brent crude. Crude is trading at $ 122 per barrel in the international market. While US crude is also above $ 120 per barrel. The 10-year bond yield in the US is at 3.053 per cent.
Kotak Mahindra Bank has announced a 0.50 percent increase in savings account interest rate for deposits above Rs 50 lakh. Now it has become 4 percent. The term deposit rate has also been increased by up to 0.25 percent.
Two wheeler maker Bajaj Auto said in its BSE filing that the board of directors will consider the proposal for buyback of fully paid-up equity shares of the company on June 14. After which the first buyback announcement may be made by the company since 2000.
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