Stock market highlights:
Indian equities ended lower for a third straight day on Tuesday as investors anticipated aggressive rate hikes by central banks, including the US Federal Reserve, to tame multi-year high inflation. India’s wholesale price index (WPI) inflation, too, climbed to 15.8 per cent in May, its highest level since 2012.
Select IT, metals, and pharma stocks helped the headline indices recover from the day’s low. Overall, these indices ended higher in the range of 0.15 per cent to 0.9 per cent on the NSE.
Bajaj Auto was the top Nifty laggard, sliding 7 per cent in the intra-day trade, as its Board decided to defer decision on Buyback proposal. READ MORE
That apart, shares of oil marketing companies (OMCs) were under pressure on Tuesday as Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) hit their respective 52-week lows, while Indian Oil Corporation (IOCL) dipped 3 per cent on the BSE in intra-day trade. READ MORE
On the upside, shares of Adani Enterprises (AEL) jumped 6.6 per cent to Rs 2,220 on the BSE in Tuesday’s intra-day trade after Adani and TotalEnergies of France entered into a new partnership to jointly create the world’s largest green hydrogen ecosystem. READ MORE
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