Market At Close: Nifty, Sensex Extend Gains To Second Day
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Nifty and Sensex close the session higher led by Nifty Media.
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Titan and Mahindra & Mahindra are the top gainers in Nifty
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All sectoral Indices gained in trade.
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Nifty Media and IT gained more than 1.5% for the day.
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Network 18 and TV18 Broadcast are the top gainers in Nifty Media.
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Nifty smallcap 250 indices outperformed all other indices, gained more than 1.5% for the day.
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Nifty and Sensex gained for the 2nd day in a row.
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Nifty Midcap 150 and smallcap 250 gained for the 4th day in a row.
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Nifty IT, Auto, FMCG, Realty, gained for the 2nd day in a row.
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Financial Services and Nifty PSU Bank , Nifty Bank gained for the 2nd day in a row.
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Nifty Pharma, Metal gains for the 4th day in a row.
Rupee Closes Weaker Against US Dollar
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Rupee closed 11 paise weaker against US dollar at 86.09
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It closed at 85.98 a dollar on Tuesday.
Source: Bloomberg
Stock Market Live Update: Reliance Infra’s Arm Gets Rs 600 Crore Export Order From Rheinmetall Waffe
Reliance Defence, a subsidiary of Reliance Infra, has secured an export order worth Rs 600 crore from Rheinmetall Waffe, a prominent German manufacturer of defence and ammunition.
Stock Market Today: Wonder Electricals Installs 640-kw Solar Power Plant In Uttrakhand
Wonder Electricals has successfully installed a 640 KW solar power plant in Uttarakhand. The plant is set to commence commercial operations within the next 15 days.
Stock Market Live: Exicom Tele-Systems To Raise Rs 260 Crore Via Rights Issue
Exicom Tele-Systems approves raising of funds up to Rs 260 crore via rights issue.
Source: Exchange Filling.
Stock Market Live: SECI Extends Bid Deadline
The Solar Energy Corporation of India (SECI) has announced an extension for the bid submission deadline for its Green Ammonia project.
Interested parties now have until June 30 to submit their proposals.
(Source: PIB)
Stock Market Live Update: Grasim Industries Starts Commercial Production At Birla Opus Plant In Maharashtra
Grasim Industries has commenced commercial production at the resin manufacturing block of its Birla Opus Plant in Maharashtra. This new block boasts an installed capacity of 22 million litres per year.
Stock Market Today: ITC Shuts Its Own E-Store
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ITC shut its own e-store. The company said e-store was launched during peak of Covid. It has “served its purpose”.
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The website says “not processing any orders currently”
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The company is turning to aggressively tap third-party e-commerce players like Blinkit, Amazon, Instamart to reach online consumers.
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Sales from e-commerce channel has grown 50%
Alert: ITC launched its own e-commerce store, itcstore.in, in October 2020 to keep up with the surge in online shopping post Covid-19.
Stock Market Live Update: Lupin Gets Approval For Prucalopride Tablet
Lupin has received approval for its Abbreviated New Drug Application for Prucalopride Tablets. These tablets are used in the treatment of chronic constipation.
Axiom-4 Leaves Earth Plane For International Space Centre With Shubhanshu Shukla And Crew
India’s Shubhanshu Shukla created history with the launch of the Axiom-4 Mission on Wednesday. Group Captain Shukla took off for the International Space Station along with three other crew members. NASA, Axiom Space and SpaceX have collaborated on this project. It is the fourth private astronaut mission to the ISS.
Stock Market Live Update: Arihant Foundations Acquires Land In Chennai For Project Worth Rs 1,200 Crore
Arihant Foundations Acquires 3 acre land in Chennai for premium residential project Estimated Gross Development Value of the project at Rs 1,200 crore.
Stock Market Live Update: Dr. Lal Path Labs Adds Illumina’s NovaSeq X Series
Dr. Lal Path Labs has announced a significant enhancement to its genomic capabilities by incorporating Illumina’s NovaSeq X Series into its operations. The NovaSeq X Plus system is a cutting-edge technology that can generate over 20,000 whole genomes per year.
Dixon Technologies Shares Decline As Motorola Diversifies Manufacturing Base
Shares of Dixon Technologies Ltd. fell over 2% on Wednesday as Motorola diversifies manufacturing base. Additionally, PhillipCapital lowered its target price to Rs 9,085 from Rs 11,077, citing rising competitive pressures and a shifting client dynamic. The revised target implies a 37% downside.
Shares of Dixon Technologies fell as much as 2.10% to Rs 14,201 apiece, the lowest level since June 24. It pared losses to trade 1.94% lower at Rs 14,225 apiece, as of 10:14 a.m. This compares to a 0.54% advance in the NSE Nifty 50.
NSE Files For Up To Rs 1,400-Crore Settlement In Co-Location
The National Stock Exchange has filed for settlement in the pending co-location and dark fibre cases, according to people familiar with the matter.
An amount of between Rs 1,300 crore to Rs 1,400 crore has been offered as part of the proposed settlement, the people said, adding that the matter remains pending for approval from the Securities and Exchange Board of India.
Read the full article here.
Stock Market Today: ArisInfra Solutions Lists At Rs 209.1 On BSE
ArisInfra Solutions has been listed at Rs 209.1 on the BSE compared to its issue price of Rs 222. On the NSE, it has been listed at Rs 205 against the same issue price of Rs 222.
Stock Market Live Update: IndiaMart InterMESH Share Price Hits Eight-Month High
Shares of IndiaMart InterMESH rose over 6% on Wednesday hitting a eight-month high after Nuvama upgraded it to ‘buy’ from ‘reduce’, sharply raising its target price from Rs 2,100 to Rs 3,800. This is the highest price target so far among the analysts tracked by Bloomberg.
Stock Market Today: Phillip Capital On Dixon Technologies
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Maintain Sell with price target of Rs 9,085, 37% downside
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Domestic business faces increasing competition
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Motorola, Dixon’s largest client, has begun outsourcing domestic volumes to Karbonn
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While Dixon was Motorola’s sole manufacturing partner in CY24, the trend has shifted in CY25
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Estimate outsourcing by Motorola can rise from 25% in Apr-May to 35% in June
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Karbonn also benefits from mobile phone PLI, allowing it to be cost-competitive
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Long term trajectory of outsourcing shift remains uncertain given China’s CCP owns 10% in Motorola parent co
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Multiple derating likely; reduce FY27 earnings estimates to account for competition
Stock Market Live Update: KEC International Stock Price Rises
KEC International Ltd., a global infrastructure EPC major and an RPG Group company, saw its share price rise by 4.62% after it secured new orders worth Rs 1,236 crore, for civil projects in India.
Stock Market Live: Snowman Logistics Starts Operations At New Warehouses In Kolkata & Andhra Pradesh
Snowman Logistics has commenced operations at two new temperature-controlled warehouses located in Kolkata and Andhra Pradesh.
Stock Market Today: Timex Locked In 5% Lower Circuit
Timex Group share price hit a 5% lower circuit and fell to Rs 251 apiece at open. As of 9:35 a.m., the stock remained locked in the lower circuit as compared to 0.52% advance in the NSE Nifty 50 index.
Timex Group India Ltd. promoter Timex Group Luxury Watches B.V., Netherlands will offload up to 15% stake worth Rs 132 crore, via offer for sale on June 25 and June 26.
Sectoral Performance At Open: Nifty Oil & Gas Leads Gains
On NSE, 12 sectoral indices advanced, one declined, and two remained flat out of 15 sectoral indices. The NSE Nifty Oil & Gas advanced the most, and the NSE Nifty Defence declined the most.
Nifty Contributors: RIL, HDFC Bank Support Gains
At open, Reliance Industries Ltd., HDFC Bank Ltd., Bharti Airtel Ltd., Titan Co. Ltd., and Larsen & Toubro Ltd. added to the Nifty 50 index.
Kotak Mahindra Bank Ltd., Bharat Electronics Ltd., Axis Bank Ltd., and SBI Life Insurance Co. weighed on the Nifty 50 index.
Stock Market Today: Nifty, Sensex Extend Gains At Open
The NSE Nifty 50 and BSE Sensex extended gains at open on Wednesday as Bharti Airtel Ltd. and Reliance Industries Ltd. shares led. As of 9:20 a.m., the Nifty was trading 123.70 points or 0.49% higher at 25,168.05, and the Sensex was trading 399.60 points or 0.49% higher at 82,454.71.
Yield On The 10-Year Bond Opens Higher
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The 10-year bond yield opened 2 basis points higher at 6.27%
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It closed at 6.25% on Tuesday
Source: Bloomberg
Rupee Opens Weaker Against US Dollar
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Rupee opened 3 paise weaker against US dollar at 86.01
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It closed at 85.98 a dollar on Tuesday.
Source: Bloomberg
Stock Market Live Update: KEC International Gets Orders Worth Rs 1,236 Crore
KEC International has secured orders worth Rs 1,236 crore for civil projects in India. These projects include the development of over 50 lakh square feet of residential buildings along with associated facilities in Western India.
Stock Market Today: Nifty’s Key Support At 24,850, Resistance At 25,200
The stock markets witnessed notable volatility throughout the day on Monday after a gap-up opening.
The NSE Nifty 50 surged higher but faced stiff resistance near the 25,300 mark and closed at 25,044.35 with gains of 72.45 points. Technically, the formation of a bearish candle with multiple bearish divergences suggests caution ahead.
Gold Prices Trade Higher As Powell Vouch For Wait-And-Watch Approach For Rates
Gold prices were trading higher in Asia session Wednesday as US Federal Reserve Chair Jerome Powell said to the House Financial Committee that patient approach should be taken to see how the inflation moves in the US economy.
Traders were pricing in two more rate cuts from the US Federal Reserve this calendar year. However, there is now no clarity of a rate cut in the July meeting.
Gold future was trading 0.31% higher at $3,344.10 an ounce as of 8:02 a.m.
Oil Prices Rebound From Three-Day Slump On Israel-Iran Ceasefire
Oil prices rebound from a three-day slump in Asia session Wednesday as the US crude oil inventory drop. Traders also assessed the stability of Israel and Iran ceasefire. Oil prices advanced to five-month high after US attacked Iran’s three nuclear facilities.
Crude oil prices declined 14.85% in last three sessions. However, it was trading 1.28% higher at $68 a barrel as of 7:47 a.m.
Asia Market Update: CSI 300, Nikkei 225 & KOSPI Rise On Israel-Iran Ceasefire
Markets in Japan, China, Australia, and South Korea advanced Wednesday as the ceasefire between Israel and Iran are seeming effective. Traders assessed US Federal Reserve Chair Jerome Powell’s comment at the House Financial Committee.
The CSI 300 and Hang Seng were trading 0.28% and 0.97% higher, respectively as of 7:36 a.m. The Nikkei 225 and KOSPI were trading 0.24% and 0.42% higher, respectively.
US Market Update: US Futures Little Changed As Traders Assess Powell’s Comments
US futures were trading little changed as traders were assessing US Federal Reserve Chair Jerome Powell’s comments. Powell reiterated his view that patient approach should be taken to reduce interest rates as the US economy is doing still strong.
The S&P 500 and Dow Jones Industrial Average were trading 0.06% and 0.02% down, respectively as of 7:30 a.m. The Nasdaq 100 future was 0.06% down.
GIFT Nifty Implies Tepid Open; Hindalco, PTC Industries, Vodafone
The GIFT Nifty was trading 0.01% or 2 points higher at 25,155.50 as of 6:44 a.m., which implied that the benchmark Nifty 50 may open 112 points higher open from Tuesday’s close. Gains in Asian equities will likely support the Indian benchmark indices.
Investors may keep an eye on Aurobindo Pharma Ltd., Hindalco Industries Ltd., PTC Industries Ltd., Vodafone Idea Ltd. share prices in Wednesday’s session.
The benchmark equity indices ended with gains on Tuesday, led by share prices of Jio Financial Services Ltd. and Adani Ports and Special Economic Zone Ltd.
The NSE Nifty 50 ended 72.45 points, or 0.29% higher at 25,044.35, while the BSE Sensex closed 158.32 points, or 0.19% up at 82,055.11.
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