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Stock Market Highlights: Sensex jumps 393 points, Nifty ends above 15,750 led by IT, metals; midcaps underperform

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Stock Market Highlights: Indian equity indices, Sensex and Nifty ended higher Thursday led by strong gains in IT and metal stocks amid mixed global cues. Broader markets closed mixed as midcap index declined, while smallcap index was marginally higher. Among sectoral indices, gains were seen in Nifty IT, Nifty Metal, Nifty Private Bank and Nifty Financial Services, while PSU Banks, pharma and realty sectors ended in the red.

Stock Market Highlights: Sensex jumps 393 points, Nifty ends above 15,750 led by IT, metals; midcaps underperform
  • Thank you, readers! That's all from CNBC-TV18.com's live market coverage today. Please do log in again tomorrow for another day of market coverage. Stay Safe!

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  • Ajit Mishra, VP - Research, Religare Broking

    Markets traded with a positive bias and managed to close half a percent higher on the monthly expiry day. The prevailing consolidation in the index is largely in line with the global counterparts so participants should continue to keep a close watch on the world market for cues. Despite the positive bias, we’re seeing restricted participation so traders should focus more on the selection of sectors and stocks. On the index front, a decisive break above 15,900 in Nifty would pave the way for an up move else consolidation will continue. 

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  • Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities

    On the day of the monthly expiry of F&O contracts, the market closed just below the crucial resistance of 15,800/52,800. However, the broader market remained strong and the Nifty/Sensex has formed a bullish continuation formation. Based on it we would see the levels of 16,050/16,150 (53,750) levels in the near term and the level of 15,670/52,300 would act as final stop loss for long positions. The index giant Reliance industries closed at the lowest point of the day, while other heavyweights like Infosys and TCS closed at the highest point of the day. The Bank Nifty also managed to close above the levels of 34,800, which is positive for the broader market.

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  • Deepak Jasani, Head of Retail Research, HDFC Securities

    Indian benchmark equity indices rose on June 24 on the monthly F&O expiry day led by buying in IT stocks. Nifty opened higher and kept rising gradually through the day to close near the intraday high. Nifty made a small high low range compared to the previous day, indicating indecision at higher levels. The next move could be either side and even go sideways. Lack of volume pickup will postpone trend picking by the markets. Sectorally IT is back in favour and could remain in limelight for 1-2 sessions more before some other sector comes into limelight. Nifty could remain in the 15,700-15,863 for the next few sessions. 

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  • Rupee At Close | The Indian rupee gained for the second straight day and closed 9 paise higher at 74.18 against the US dollar on Thursday, supported by a rally in domestic equities and weaker American currency. The local currency opened at 74.20 and traded in the range of 74.16 - 74.25. It finally finished at 74.18, higher by 9 paise over its last close. On Wednesday, the rupee had settled at 74.27 against the US dollar.

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  • Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    Nifty has gone sideways; the range is between 15,400 and 15,900. Unless we do not get past either level, we will not see a significant move. While the bias is on the upside and there is still room for the index to conquer 16,100, a buy on dips approach is recommended.

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  • Manish Shah, Founder, www.Niftytriggers.com

    Nifty closed the day flat with the June expiry ending with a whimper. The narrowing of volatility is getting reflected in the price action as we see the narrow ranged candle which is also an inside day. The range of the day was narrowest in the last several days suggesting contraction of volatility or the squeeze. Usually, this type of price action is followed by a strong directional movement. The zone at 15,900-15,950 is a barrier that is stopping the Nifty from moving higher. As of date Nifty has taken support at rising moving average and showed that the decline in the last two days is arrested. A break above 15,950 would result in a rally that will take Nifty towards 16,200-16,300 overtime. Traders should create long positions on a break above 15,950. If this break out happens expect a sharp move as the volatility will expand in the direction of the trend.

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  • Market At Close | Sensex & Nifty close higher after trading in a narrow range. Market breadth favours declines with advance-decline ratio at 2:3.

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  • Market At Close | Here are the highlights of today’s trading session

    - Sensex & Nifty Close Higher After Trading In A Narrow Range

    - Midcaps Underperform Benchmarks With Midcap Index Closing Lower

    - Pvt Financials Help Nifty Bank Close Higher; ICICI, HDFC Bank Top Gainers

    - IT Stocks Lift Nifty With Infosys & TCS Being Top Contributors

    - Reliance Ind Ends At Day’s Low Amidst Announcements At The AGM

    - Sensex Gains 393 Points To 52,699 & Nifty 103 Points To 15,790

    - Nifty Bank Rises 253 Pts To 34,827 While Midcap Index Slips 74 Pts To 26,601

    - Market Breadth Favours Declines With Advance-Decline Ratio At 2:3

    - BEL Gains For 2nd Straight Day On A Strong Outlook; Stock Up 17% This Week

    - UBL Extends Yesterday’s Losses After A Stake Buy By Heineken

    - Unlock Theme Stocks (PVR, Jubilant Food) Slip On Delta Plus Variant Concern

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  • Closing Bell | The Indian equity benchmark indices ended higher Thursday led by strong gains in IT and metal stocks amid mixed global cues. The Sensex rose 392.92 points, or 0.75 percent to 52,699.00, while the Nifty ended at 15,790.45, up 103.50 points, or 0.66 percent. Broader markets, midcap and smallcap indices, underperformed the benchmarks.

    Among sectoral indices, Nifty IT gained the most over 2 percent followed by Nifty Metal, Nifty Private Bank, Nifty Auto and Nifty Financial Services, while PSU Banks, pharma and realty sectors ended in the red.On the Nifty50 index, Infosys, TCS, JSW Steel, Tech Mahindra and L&T were the top gainers while Reliance Industries, IOC, Coal India, Shree Cement and Bharti Airtel led the losses.

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  • RIL AGM: Reliance to partner Google in making 'ultra-affordable' JioPhone Next smartphone

    Mukesh Ambani owned Reliance Jio has announced the launch of "ultra-affordable 4G smartphone", JioPhone Next created in partnership with Google to offer the highest quality, most affordable internet services in India.

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  • Oil gains as US crude draws, German data boost outlook demand

    Oil prices gained for a second day on Thursday after drawdowns in US inventories and accelerating German economic activity bolstered confidence in the fuel demand recovery. Doubts about the future of the 2015 Iran nuclear deal that could end US sanctions on Iranian crude exports further supported prices. Brent crude futures rose 45 cents, or 0.6%, to $75.64 a barrel, after increasing 0.5% on Wednesday.

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  • Investment in technology to drive profitability, says Sona Comstar chairman Sunjay Kapur

    Sona BLW Precision Forgings Limited (Sona Comstar), whose Rs 5,550 crore initial public offering (IPO) was sold from June 14 to 16, listed on the bourses on Thursday. Sunjay Kapur, chairman and non-executive director of the company, said 14 percent of their revenues come from the electric vehicle (EV) segment and that the growth in the space has been good. “We are hoping that the Indian automobile industry bounces back. The company currently supplies about 25 percent to Indian industries and 75 percent across the globe,” Kapur told CNBC-TV18. He added that they see good growth opportunities for the future. Read here.

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  • RIL AGM: Mukesh Ambani inducts Saudi Aramco chairman Yasir Al-Rumayyan as independent director on Reliance board

    Reliance Industries (RIL) announced the joining of Yasir Al-Rumayyan, chairman of Saudi Aramco and governor of the kingdom’s wealth fund Public Investment Fund, as an Independent Director on its board. Speaking at 44rd Annual General Meeting (AGM), RIL Chairman Mukesh Ambani announced the induction of Al-Rumayyan’s on the RIL board. "H.E. Yasir Al-Rumayyan joining the board is also the beginning of the internationalisation of Reliance," Ambani said.

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  • Sugandha Sachdeva, Vice President - Commodity and Currency Research, Religare Broking

    Gold prices have been hit hard last week, as the US Fed in its latest meeting has surprised the markets with its hawkish shift and projected rate increases as soon as 2023, which buoyed the dollar index and led to the steep decline of around six percent in the precious metal. However, the Fed chair in his recent testimony has calmed the markets' nerves by his dovish sentiment that could underpin gold prices going forward. As of now gold looks primed for a rebound which can extend towards Rs 47,500/10 gms and then eventually Rs 48,100/10 gms in the coming days. On the flip side, any convincing breach of the Rs 46,500/10 gms support would lead to a further downdraft towards Rs 45,700-45,300/10 gms area.

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  • Expect 50% plus revenue growth ahead; bid on BSNL 4G tender along with TCS: ITI

    RM Agarwal, chairman and managing director, ITI, spoke about the better than expected fourth-quarter performance and the business outlook, in an interview with CNBC-TV18, while adding that that ITI is hopeful of 50 percent plus revenue growth, given its strong order book. Giving details about the orders, he said, “The ASCON project was signed in October 2020 with the Ministry of Defence for around Rs 7,900 crore. About Rs 3,500 crore orders were signed for different BharatNet projects, government and private projects.” “Company is also the lowest bidder in a BharatNet project of the Department of Telecommunications, which is to the tune of Rs 450 crore. Also on April 1, the company signed a contract with the Air Force for data centre upgradation,” he added. Read here.

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  • Expect demand to be higher than last year; gearing up for EV opportunity: Minda Industries

    Auto component maker Minda Industries’ ED & Group CFO Sunil Bohra is of the view that things have started looking good for the industry as COVID-19 related restrictions have started easing. “Indian consumer is a lot more resilient,” he said, adding that during the past year as well, the personal mobility demand was much more than pent-up demand and it sustained till Q3, Q4. This time around, the demand is expected to be a lot more than last year. Talking about the electric vehicle opportunity, Bohra said the company is gearing up for that and is mainly looking at two and three-wheeler components because these segments would be the first to kick off. The company has about Rs 7,000 of a kit-value for a two-wheeler, which could go to Rs 9,000 and from Rs 9,000 to Rs 30,000 kit-value per vehicle, considering the products that are in the pipeline and in production. Read here.

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  • Reliance AGM LIVE Updates: RIL Chairman Mukesh Ambani begins virtual address
    Reliance Industries AGM 2021 LIVE Updates: RIL is set to conduct its 44th annual general meeting virtually at 2 pm today with chairman Mukesh Ambani addressing the conglomerate's shareholders. The…
    Stock Market Highlights: Sensex jumps 393 points, Nifty ends above 15,750 led by IT, metals; midcaps underperform
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  • Buzzing | Shares of Nureca hit 5 percent upper circuit of Rs 1,627.50 on BSE after Hornbill Orchid India Fund, a Mauritius-based hedge fund, acquired a 1.95 percent equity stake in the company.

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  • Fitch upgrades Reliance Industries rating to ‘BBB’, a notch above India's sovereign rating

    Fitch Ratings has upgraded Reliance Industries Ltd's (RIL) rating to 'BBB', one notch above India's sovereign rating, as the company benefits from cash flow generation across diversified business segments and continuation of deleveraging. In a statement, Fitch said it has upgraded RIL's long-term foreign-currency issuer default rating (IDR) to 'BBB', from 'BBB-', with a negative outlook. At the same time, the agency has affirmed RIL's long-term local-currency IDR at 'BBB+' with a stable outlook. RIL's local-currency IDR reflects the company's strong business profile, with market-leading positions and diversified cash flow from a mix of oil-to-chemical (O2C) and consumer businesses, as well as lower net leverage. The firm has cut its foreign-currency borrowings outside India by 36 percent following pre-payments of USD 7.8 billion in the financial year ending March 2021 (FY21). Read here.

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  • Household financial savings moderated to 8.2% of GDP in Q3FY21: RBI

    The first wave of COVID-19 last year impacted households as their financial savings moderated to 8.2 percent of GDP in the December quarter from 10.4 percent in the previous three-month period, revealed an RBI data released on Wednesday. The preliminary estimate of household financial savings is placed at 8.2 percent of GDP in October-December 2020-21, exhibiting a sequential moderation for the second consecutive quarter after having spiked in the pandemic-hit June quarter, RBI said in a release. Read here.

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  • Adani's Bravus pushes ahead with new Australian thermal coal mine

    Adani Enterprises' Bravus Mining said it had broken ground on its new thermal coal mine in northern Australia, as banks and insurers pull out of financing new such projects to curb global carbon emissions, said a Reuters report. The International Energy Agency (IEA) warned last month that investors should not fund new oil, gas and coal supply projects if the world wants to reach net zero emissions by mid-century. But Australia, the world's top coal exporter, is considered a global laggard in climate change policy as, unlike many other developed countries, its Prime Minister Scott Morrison has not set out a path to zero emissions by 2050. Bravus Mining and Resources CEO David Boshoff said Bravus had already secured customers for the 10 million tonne per annum of coal produced at the Carmichael Mine. "Bravus has now struck coal and exposed the first of the coal seams at our Carmichael Project," it said in a statement.

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  • Buzzing | Shares of Orchid Pharma were locked in their 10 percent lower circuit of Rs 1,187.85 after one of its promoters Dhanuka Laboratories said it will sell 8.04 percent of the total share of the company on June 24 and June 25 via an offer for sale.

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  • Gold loan repayment can now be done in physical gold too: RBI

    Reserve Bank of India (RBI) has come out with a notification on gold loan repayment. The RBI notification that came in on Wednesday evening says that gold (metal) loans can now be repaid in physical gold as well. This is being seen as a big breakthrough, especially in the industry and for the bullion as well. Until now, the banks, which were authorised to import gold or were participating in the gold monetisation scheme, were allowed to extend gold loans to jewellery manufacturers and jewellery exporters, and the repayment of these gold loans were been done via the Indian rupee. Read full report here.

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  • RIL AGM 2021 LIVE Updates: Chairman Mukesh Ambani to address virtually at 2 pm today

    Reliance Industries Ltd (RIL) is set to conduct its 44th annual general meeting virtually at 2 pm today with chairman Mukesh Ambani addressing the conglomerate's shareholders. The event is tracked by the business community and Dalal Street as RIL is India's largest company by market capitalisation and leads in multiple sectors. Catch Live updates on RIL AGM here.

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  • HDFC Bank CEO Sashi Jagdishan opens up on GPS auto loan controversy, RBI ban after tech outages
    In the Annual General Meeting on Wednesday, HDFC Bank CEO Sashi Jagdishan addressed two key issues that have caused embarrassment to the bank recently - the technology outages and auto loan GPS…
    Stock Market Highlights: Sensex jumps 393 points, Nifty ends above 15,750 led by IT, metals; midcaps underperform
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Stock Market Highlights: Indian equity indices, Sensex and Nifty ended higher Thursday led by strong gains in IT and metal stocks amid mixed global cues. Broader markets closed mixed as midcap index declined, while smallcap index was marginally higher. Among sectoral indices, gains were seen in Nifty IT, Nifty Metal, Nifty Private Bank and Nifty Financial Services, while PSU Banks, pharma and realty sectors ended in the red.

Market Movers

CompanyPriceChng%Chng
Hindalco417.35 17.30 4.32
SBI Life Insura1,105.15 28.50 2.65
Tata Steel1,330.65 32.70 2.52
Bajaj Finserv13,807.85 282.80 2.09
SBI429.95 6.65 1.57
CompanyPriceChng%Chng
Tata Steel1,330.50 32.40 2.50
Bajaj Finserv13,801.20 275.85 2.04
SBI429.45 6.15 1.45
Bajaj Finance6,231.20 69.05 1.12
Nestle18,238.40 160.85 0.89
CompanyPriceChng%Chng
Hindalco417.35 17.30 4.32
SBI Life Insura1,105.15 28.50 2.65
Tata Steel1,330.65 32.70 2.52
Bajaj Finserv13,807.85 282.80 2.09
SBI429.95 6.65 1.57
CompanyPriceChng%Chng
Tata Steel1,330.50 32.40 2.50
Bajaj Finserv13,801.20 275.85 2.04
SBI429.45 6.15 1.45
Bajaj Finance6,231.20 69.05 1.12
Nestle18,238.40 160.85 0.89

Currency

CompanyPriceChng%Chng
Dollar-Rupee74.46000.04250.06
Euro-Rupee88.14600.44400.51
Pound-Rupee103.38800.70900.69
Rupee-100 Yen0.67900.00490.71