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Sensex sheds 256 points; consumer durables stocks tank

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BSE Sensex

Mumbai: A benchmark index of Indian equities markets Monday closed trading 256.30 points or 0.88 percent down as consumer durables stocks tanked.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed trading 78.65 points or 0.89 percent down at 8,754.95 points.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 29,316.58 points, closed at 28,975.11 points, down 256.30 points or 0.88 percent from the previous day’s close at 29,231.41 points.

The Sensex touched a high of 29,362.96 points and a low of 28,913.16 points in intra-day trade.

Almost all the sectors ended in the red. Heavy selling pressure was seen in consumer durables, banking, oil and gas, auto, healthcare and fast moving consumer goods (FMCG) sectors.

The S&P BSE consumer durables index plunged by 211.58 points, bankex plummeted by 191.74 points, oil and gas index slipped by 186.17 points, auto index fell by 135.71 points, healthcare index dropped by 123.10 points and FMCG index slid by 108.33 points.

“The broader trend of the market is still intact and current sell off is nothing but adjustment of over retracement in the short term. Nifty has next major support in the region of 8710/8685, but failure to hold may lead to further more weakness to 8600/8575,” Shrikant Chouhan, head – technical research, Kotak Securities said.

“However, medium/positional traders should use 8,700 and 8,600 levels as an opportunity to buy growth oriented stocks. Stable Crude prices and Currency below 63 are going to support the market in the near term,” he added.

The major Sensex gainers were: Mahindra & Mahindra, up 0.99 percent at Rs.1,261.20 and Sesa Sterlite Limited, up 0.94 percent at Rs.219.45.

The losers were: Housing Development & Infrastructure Ltd, down 6.98 percent at Rs.109.95; Unitech, down 3.80 percent at Rs.17.70; Zee Entertainment Enterprises Ltd, down 3.54 percent at Rs.345.20; Titan, down 3.40 percent at Rs.420.20; DLF, down 3.27 percent at Rs.146.35 and NMDC, down 3.20 percent at Rs.137.50.

Among the Asian markets, Japan’s Nikkei went up by 0.73 percent, Hong Kong’s Hang Seng was 0.02 percent points higher and China’s Shanghai Composite Index, gained by 0.78 percent.

In Europe, London’s FTSE 100 was down by 0.32 percent, while Germany’s DAX Index went up by 0.34 percent and France’s CAC 40 was higher by 0.21 percent.

Business

Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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