Indian equities

The rise in crude prices towards three-month highs owing to supply tightness is further accentuating inflation concerns and inflicting damage on the global economy and value of the currency, said Sugandha Sachdeva, Vice President - Commodity and Currency Research at Religare Broking. Besides, the World Bank slashing its global growth forecast to 2.9 per cent as against its previous estimate of 4.1 per cent in January also depreciated the currency, Sachdeva said.

Domestic equity benchmark indices declined further as the session progressed and settled sharply lower on Friday, triggered by strong sell-off in global equities. With Friday's slump, the indices have declined for the five out of the past six sessions. Sensex closed at 54,303 points, down 1,017 points, or 1.84 per cent, whereas Nifty, at 16,202 points, was down 276 points, or 1.68 per cent.

On Friday, Indian markets opened sharply lower in line with negative cues from other Asian markets and from the US markets, said Deepak Jasani, Head of Retail Research, HDFC securities. "The US stocks tumbled late Thursday to close sharply lower, with the Nasdaq skidding 2.8 per cent, as jittery investors looked ahead to a reading on May inflation due Friday morning," Jasani added.

Domestic equity benchmark indices snapped their four straight sessions of losses and settled fairly higher on Thursday, primarily due to value buying. Sensex closed at 55,320 points, up 428 points or 0.8 per cent, whereas Nifty was at 16,481 points, up 125 points or 0.8 per cent. Domestic investment flows over the last many months have been structurally positive even as the foreign outflows continue unabated, said S. Ranganathan, Head of Research at LKP Securities.

India's domestic equity benchmark indices continued their slump for the fourth session in a row and closed Wednesday's trade on a negative note.. Sensex closed at 54,892 points, down 215 points or 0.4 per cent, whereas Nifty at 16,356 points, was down 60 points or 0.4 per cent. "The RBI policy turned out to be a non-event for the index as it ended on a flat note," said Kunal Shah, Senior Technical and Derivative Analyst.

Sensex closed the day at 55,107 points, down 1 per cent, whereas Nifty at 16,416 points, was down 0.9 per cent. The RBI's stance on the economy and the actual amount of rise in key lending rates would dictate further course of action in the capital markets. The central bank's Monetary Policy Committee (MPC) review meeting, which is currently underway, will reveal its decision on Wednesday morning.

At 10.02 a.m., Sensex was 1.1 per cent down at 55,037 points, whereas nifty down 1.1 per cent at 16,388 points. The three-day Reserve Bank of India's (RBI) monetary policy review meeting that started on Monday will have a bearing in the market movement going ahead. Though the RBI raising policy rates in the ongoing monetary policy committee meeting is a "no brainer", as said by its Governor Shaktikanta Das

The central bank raising policy rates in the meeting is a "no brainer" as said by its Governor Shaktikanta Das. The investors, however, await the actual degree of percentage hike before taking fresh positions in the markets. Investors also eye other macro economic forward looking guidance from the central bank.

At 9.44 a.m., Sensex was 0.7 per cent down at 55,397 points, whereas nifty 0.6 per cent down at 16,489 points. "For India elevated crude prices and a $23 billion trade deficit in May are areas of concern. Even though FPI selling has come down in early June they are likely to sell more at higher levels," said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Sensex closed 0.09 per cent lower at 55,769 points, whereas nifty closed 0.26 per cent lower at 16,584 points. Intraday low for sensex was at 55,719 points, whereas high at 56,433 points, data showed. On Friday, Reliance Industries was the top gainer among the Nifty50 companies, rising nearly 2 per cent, whereas Grasim Industries the top loser at 6.5 per cent.