Stock Market LIVE Updates: Sensex recoups losses, Nifty above 21850; autos shine, metals drag

Whenever, the US Bond yield reaches or is nearing 4.335% level, the equity markets world over, including Indian markets start correcting. Currently, the US Bond yields are hovering around its peak level and if it crosses once again above the previous high of October 2022, prospects of correction in the domestic market are expected to brighten. The correction which we are seeing right now may continue further and Foreign Portfolio Investors (FPIs), which are currently in a lull phase in the domestic market, may turn active in pulling out funds.

"Market is anticipating three rate cut announcements by the US Federal Reserve (US Fed) in calendar year 2024 (CY24). The first-rate cut is expected in June but the probability of this rate cut to materialize has come down from 69% a week ago to 59% currently. There’s no possibility of any rate cut announcement by the Federal Open Markets Committee (FOMC) of the US Fed during its Wednesday meeting. Also, the possibility of the US Fed cutting its interest rates soon is fading fast as the US inflation rate, currently at 3.15%, is still hovering much above the comfort level of 2%. All eyes and ears are now glued to the commentary to be given by US Fed chairman Jerome Powell," saidApurva Sheth, Head of Market Perspectives & Research, SAMCO Securities

Maruti Suzuki shares cross Rs 12,000 mark; CLSA expects carmaker to maintain top position in CNG space

In a recent report, brokerage firm CLSA highlighted that Maruti will maintain its top position in the CNG PV segment with a 72 percent share. The brokerage firm estimates the market share of CNG PVs to rise from 15 percent in FY2024 to 22 percent in FY2030.... Read More

European shares opened lower, weighed down by a sell-off in luxury stocks after a sales warning from Kering, while investors remained cautious on concerns the USFederal Reserve could signal a slower path of rate cuts this year. The pan-European STOXX 600 index was down 0.2%, as of 0806 GMT.

F&O Manual | Indices swing between gains and losses; Bank Nifty to expire in 46,000-46,500 range

Bank Nifty has retraced 80 percent of its preceding six-session rally and ICICI Securities expect it to establish a higher bottom around the support of 46,200-46,000... Read More

Gold prices were stuck in a tight range on Wednesday as traders prepared for a key policy decision from the U.S. Federal Reserve and remarks from Fed Chair Jerome Powell later in the day, which could shed more light on prospects of rate cuts this year.

Spot gold was steady at $2,157.78 per ounce, as of 0752 GMT. U.S. gold futures were little changed at $2,160.80.

Now, RBI flags froth in mid, smallcaps; says stocks riding 'intense bull market'

While largecaps are gaining, mid and smallcaps are rising even faster, with hints of froth and a spreading equity culture, RBI has said... Read More

Time Technoplast has received approval from the Petroleum and Explosives Safety Organization (PESO) for the manufacturing of high pressure Type-IV composite cylinder, prototype, for hydrogen. The testing of 1% lot of cylinders will be completed in six months’ time.

The Sensex was up 163.14 points or 0.23 percent at 72,175.19, and the Nifty was up 38.80 points or 0.18 percent at 21,856.30. About 1553 shares advanced, 1721 shares declined, and 90 shares unchanged.