In a bullish turn of events during Thursday’s trading session, benchmark equity indices exhibited robust performance. The NSE Nifty 50 surged by 1.23% to settle at 21,182.70, while the BSE Sensex gained 929.60 points to conclude at 70,514.20. In intraday trading, the Nifty 50 reached a record high of 21,210.90 with a 1.35% increase, and the Sensex added 1018 points, peaking at 70,602.89.
“The market continued its exuberance and hit a fresh high amid the dovish commentary from the Federal Reserve, signalling at least three rate cuts in 2024. Further, the sharp fall in US bond yields improved investors’ confidence. An upgrade in India’s GDP forecast, ease in global oil prices, and the RBI decision to clamp down inflation to the target level, led to a broad-based rally with outperformance from Realty and IT,” said Vinod Nair, Head of Research at Geojit Financial Services.
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The broader indices settled higher with the gains led by Midcap stocks. Bank Nifty index climbed 640.5 points or 1.36% to settle at 47,732.30. Realty and IT stocks led the gains among the other sectoral indices and settled with gains of over 3% each. Financial Services, Private Bank, Oil & Gas stocks also rallied by over 1% each, while Media, Healthcare, and Consumer durables stocks settled lower.
RIL’s 47th AGM today: A look at how the stock performed in last one year Gold, silver rate today on August 29 in Mumbai, Delhi, Chennai, Kolkata: Here are latest prices of your city Stock Market Live: Markets at intra-day highs! Nifty above 25,100, Sensex near 82,000; Media and pharma shine Will Nifty continue to hold 25,000 on Thursday? See GIFT Nifty, FII data, F&O, crude, and more before market opens
Infosys, Tech Mahindra, LTIMindtree, Wipro, and HCL Tech were the top gainers on the NSE Nifty 50, while the laggards included Power Grid Corporation of India, HDFC Life Insurance Company, Nestle India, Cipla, and JSW Steel.
The volatility index (India Vix) ended up 2.11%.
Ajit Mishra, SVP – Technical Research, Religare Broking pointed out that the markets resumed uptrend after a breather and gained over a percent, tracking favorable global cues. Firm US markets triggered a gap-up start in Nifty, which further strengthened as the session progressed. All key sectors participated in the rally wherein IT, banking and realty were among the top gainers. The broader indices also edged higher and gained in the range of 0.9%-1.3%. “Firm US indices may continue to rub off on our markets and we are now eyeing 21,500 in Nifty. We reiterate our preference for banking & IT majors and suggest staying selective in others. Though the midcap and smallcap pack is also aligned with the move, traders should maintain extra caution in stock selection citing the overbought conditions,” Ajit Mishra added.
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DEE Piping Systems opened for bidding to retain investors on June 19 at a set price band of Rs 193 to Rs 203 per equity share. The company wants to collect a total of Rs 418 crore. The IPO has two segments: offer for sale and fresh shares.
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The company will raise Rs 325 crore through offering 16 million fresh shares and Rs 4.6 million shares will be sold by promoters and other selling shareholders to aggregate Rs 93 crore.
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The issue of DEE Piping Systems will close on June 21. A retail investor can subscribe to a minimum of one lot containing 73 shares, which is valued at Rs 14,819. The allotment of shares is expected to be finalised by June 24. The listing o…
The benchmark equity indices ended Tuesday’s trading session in the positive territory. The NSE Nifty 50 gained 34.60 points or 0.14% to settle at 25,052.35, while the BSE Sensex jumped 73.80 points or 0.09% to 81,785.56.
The broader indices ended in mixed territory, with gain led by Large-cap stocks. IT and Pharma stocks outperformed among the other sectoral indices while Media and PSU Banks stocks shed.
Sectoral Index
Bank Nifty index ended lower by 134.90 points or 0.26% to settle at 51,143.85. The Nifty Midcap 100 fell by 73.85 points, or 0.12%, ending the day’s trading at 59,146.40. In the broader markets, small-cap and mid-cap stocks finished in the red.
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“This is in line with expectations, given the strong oversubscription of the IPO and the company’s strong fundamentals. Plaza Wires is a well-managed company with a strong track record of growth. It is a leading manufacturer of wires and cables, with a wide product range and a strong customer base. The company has a strong financial performance, with consistent revenue and profit growth in recent years. Though the IPO size was small, it received an amazing response from investo…
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European stock indexes were mostly in the red in early trading on Monday, falling from last week’s record highs as traders grappled with uncertainty over the economic outlook and waited for U.S. inflation data later in the week.
U.S. stocks edged down from recent highs on Friday, in a move analysts attributed to profit-taking, after U.S. payrolls data presented a mixed picture but maintained expectations for a Federal Reserve rate cut in June.
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Traders are now focused on U.S. inflation data due on Tuesday, which could change expectations for when major central banks will begin cutting rates.
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Shares of Adani Green Energy Ltd (AGEL) on Tuesday jumped over 4 per cent as Gautam Adani and his family will inject Rs 9,350 crore into the conglomerate’s green energy arm to equip it to achieve the 45 GW target by 2030 and to meet debt payment obligations.The stock rallied 4.30 per cent to Rs 1,599.90 on the BSE.
During the day, it zoomed 6.26 per cent to Rs 1,630.At the NSE, it jumped 4.37 per cent to Rs 1,600.20.The company’s market valuation climbed Rs 10,446.7 crore to Rs 2,53,429.36 crore. In terms of volume, 4.22 lakh shares of the company were traded at the BSE and over 28.10 lakh shares at the NSE during the day.
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Monarch Casino Spa – Black Hawk in Colorado became the scene of the largest casino heist in the state on March 12 after a cage cashier drove off with $500,000.
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