Sensex ends 221 pts higher; Consumer Discretionary index hits record peak

Asian Paints, Axis Bank, ICICI Bank, Britannia Industries, SBI Life, and Indian Oil Corporation ended the day as the top gainers

5:33 PM

TECH VIEW :: Ashis Biswas, Head of Technical Research at CapitalVia Global Research

The market witnessed a lackluster movement and an attempt to overcome the resistance level around the Nifty 50 Index level of 15900. While a breakout above 15900 is the key factor from a short-term perspective, Anything above this level is important for the market to gain momentum, which could lead to an upside projection till 16200 levels. The momentum indicators like RSI, MACD to further strengthen in favor of a positive outlook and advise the traders to consider a breakout above 15900 as an opportunity to build fresh long position

5:18 PM

MARKET CLOSING COMMENT :: Deepak Jasani, Head of Retail Research at HDFC Securities

Indian benchmark equity indices rose for the fourth consecutive session on June 15. The Nifty opened gap up and then remained in a narrow 46 point gap through the day. At close, the Nifty was up 57.40 points or 0.36% at 15869.30.

 

Volumes on the NSE were much below recent averages. Among sectors, Realty, Consumer Durables and FMCG were the main gainers while Healthcare and Power were the main losers.  

 

Indian markets on June 15 ignored the high inflation numbers announced the previous day. Attention and funds are being diverted to the four IPOs lined up this week. This is also reflected in lower volumes in the secondary markets. Rangebound trade at these high levels suggest hesitation on the part of traders to expand their commitments. However a positive outcome from the US Fed meet this evening could help overcome this hesitation. Nifty could remain in the 15940- 15791 band for the near term.

4:57 PM

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

Th Nifty index opened with a good gap-up and managed to close on a positive note at 15,869 with gains of nearly half a per cent. The index has shown sort of profit booking from its strong hurdle zone of 15,900 which will continue to act as resistance for the coming session. This is followed by next hurdle of 16000. The index has formed a good base at 15,800-15,700 zone and holding above the said levels gives strong support to overall structure.

4:47 PM

TECH VIEW :: Sumeet Bagadia, Executive Director at Choice Broking

Technically, the nifty is in a bullish trend from the last many trading sessions and making higher highs. In the recent session, it has breached an immediate resistance of 15835.55 and settled above it, which indicates bullish strength in the counter. On the daily chart, the index has been hovering above 200 & 100 days Simple Moving Averages. Moreover, an oscillator Stochastic has also suggested positive crossover, which indicates bullish strength for the near term. At present, the nifty seems to have resistance at around 16000 levels while immediate support comes at 15650 levels.

4:33 PM

Technical set-up for Wednesday

The short term trend of Nifty continues to be positive with range bound action. The overall chart pattern of Nifty indicate a chances for further consolidation or minor weakness from the highs in the next 1-2 sessions. Immediate support is placed at 15700.

Views by: Nagaraj Shetti, Technical Research  Analyst, HDFC Securities

4:24 PM

MARKET STRATEGY :: Bank stocks could be seeing early signs of rebound

Markets edged marginally higher in a range-bound session, taking cues from stable global indices. After the initial uptick, the benchmark hovered in a narrow band; however, movement on the stock-specific front kept the participants busy till the end. Finally, the Nifty index ended higher by 0.4% at 15,869 levels. 

 

Nifty has been trading in an uptrend channel on the intra-day chart and is currently hovering around the upper band of the same. We’re seeing an early sign of a rebound in the banking index which could trigger a further surge. Traders should continue their focus on the selection of stocks and avoid contrarian bets.

Views by:  Ajit Mishra, VP - Research at Religare Broking

4:12 PM

MARKET RECAP :: Market bulls dancing to global cues

Indian bourses continued its gaining streak tracking optimism from global peers, which is despite the rising inflation concerns. The global market is eagerly awaiting the two-day Fed policy meeting’s decision to see if the Central Bank would signal any change in policy. While domestic CPI jumped to 6.3% in May breaching the RBI’s comfort zone on account of higher food & energy prices, which is expected to ease due to the opening of the economy.

Views by: Vinod Nair, Head of Research at Geojit Financial Services

4:03 PM

MARKET RECAP :: S Ranganathan, Head of Research at LKP Securities

Bulls were firmly in control today as FMCG & Paint stocks were sought after with the broader market also displaying renewed buying interest in high-quality Midcap names across sectors. Selective themes like Infra, Paper & MFI were in action today amidst high volumes on positive news flow.

3:58 PM

IPO Alert :: Sona Comstar issue subscribed 22% till 3:45 PM on Day 2

3:56 PM

IPO Alert :: Shyam Metalics and Energy issue subscribed nearly 3x till 3:45 PM on Day 2

3:52 PM

Broader market :: S&P BSE SmallCap adds 0.4%

3:51 PM

Broader market :: BSE MidCap index ends 0.6% higher

3:48 PM

NSE Snapshot :: Top Nifty50 gainers of the day

3:46 PM

Top stocks that supported the Sensex today

3:45 PM

Sectoral trends on the NSE

3:43 PM

Sensex Heatmap :: Index breadth remains neck and neck

Top gainers: Asian Paints, Axis Bank, ICICI Bank

Top losers: Bajaj Finserv, Dr Reddy's Labs, Titan

3:39 PM

Rupee Closing

Rupee settles at 73.31 per US dollar vs Monday's close of 73.27/$

3:34 PM

CLOSING BELL :: Indices end at new closing peaks

The S&P BSE Sensex closed at 52,773 levels, up 221 points or 0.4 per cent.

The 50-share index, on the other hand, was at 15,869 levels, up 57 points or 0.36 per cent.

3:28 PM

BUZZING :: Just Dial soars over 8%

3:21 PM

CARE Ratings soars 22% in three days on strong Q4 results

Shares of CARE Ratings hit a 52-week high of Rs 696 after they rallied 16 per cent on the BSE in intra-day trade on Tuesday. In the past three days, the scrip has surged 22 per cent after the company reported a strong set of numbers for the March quarter (Q4FY21).

 

For the fourth quarter of the financial year 2020-21 (Q4FY21), CARE Rating’s consolidated net profit rose by 69 per cent year-on-year (YoY) to Rs 26.49 crore as against Rs 15.68 crore in Q4FY21. Total income increased by 16.14 per cent YoY from Rs 73.41 crore to Rs 85.25 crore during the quarter under review. READ MORE

3:07 PM

Retail sales decline 79% in May over pre-Covid levels in 2019: Report

Retail sales in India slipped 79 per cent in May compared to pre-COVID sales in the same month of 2019, as businesses across states were closed due to the second wave of the pandemic, as per a survey by Retailers Association of India (RAI).

 

The decline in sales was the steepest in West and North India, which witnessed an 83 per cent dip last month as compared to May 2019, RAI said in a statement. READ MORE

2:56 PM

Emirates posts first loss in three decades as coronavirus slams travel

The state-owned company received a capital injection of 11.3 billion dirhams ($3.1 billion) from its owner, the government of Dubai. Its dnata unit tapped industry support programs and availed relief of nearly 800 million dirhams, Chairman Sheikh Ahmed Bin Saeed Al Maktoum said. READ MORE

2:46 PM

MARCH QUARTER RESULTS :: JUBILANT FOOD

> Revenue at Rs 1026 cr vs Rs 897 cr, up 14.3% YoY

 

> PAT at Rs 104 cr vs Rs 21 cr, up 395.5% YoY

 

> EBITDA at Rs 766 cr vs Rs 877 cr, down 12.6% YoY

 

> EBITDA margin at 23.5% vs 22.6% YoY

2:43 PM

Consumer discretionary index hits all-time high; analysts see more upside

Shares of consumer discretionary companies continued to march ahead on Tuesday with the S&P BSE Consumer Discretionary Goods & Services index hitting a fresh record high at 5,104 in intra-day trade. In comparison, the benchmark S&P BSE Sensex was up 0.54 per cent at 52,835 points.

 

In past two months, the BSE Consumer Discretionary index outperformed the market by surging 13.4 per cent, against 8.2 per cent gain in the benchmark index. Analysts believe there is still more room for an upside, but investors need to be selective. READ MORE

2:31 PM

Inflow in Gold ETFs drops 57% in May amid strength in equities

Gold ETFs witnessed a 57 per cent decline in net inflow to Rs 288 crore in May compared to the preceding month, as investors diverted money into equity markets.

 

Despite the drop in inflow, the assets under management (AUM) of gold ETFs rose by over 6 per cent to Rs 16,625 crore at May-end, against Rs 15,629 crore at April-end, data with Association of Mutual Funds in India (Amfi) showed. READ MORE

2:15 PM

This Reliance Group stock has zoomed 62 per cent in four days

Shares of Reliance Industrial Infrastructure continued their upward movement, hitting a new high of Rs 736.60 after they rallied 19 per cent, on the BSE in intra-day trade on Tuesday on the back of heavy volumes. The stock of the construction & engineering company was trading higher for the fourth straight day, having zoomed 62 per cent during the period. READ MORE

2:08 PM

Inflow in Gold ETFs drops 57% in May amid strength in equities

Gold ETFs witnessed a 57 per cent decline in net inflow to Rs 288 crore in May compared to the preceding month, as investors diverted money into equity markets. Despite the drop in inflow, the assets under management (AUM) of gold ETFs rose by over 6 per cent to Rs 16,625 crore at May-end, against Rs 15,629 crore at April-end, data with Association of Mutual Funds in India (Amfi) showed. READ MORE

1:57 PM

Stocks that hit 52-week high on the BSE

Company	PRICE(rs)	52 WK HIGH	CHG(%)
ACC	2039.85	2065.85	-0.04
Ambuja Cements	341.30	344.30	0.31
APL Apollo Tubes	1507.05	1517.65	3.33
Asian Paints	3024.60	3032.00	2.59
Avenue Super.	3362.10	3392.95	2.74

1:48 PM

European markets check

(Source: Reuters)

1:47 PM

Mobile banking app issue now resolved, says HDFC Bank