Nifty ends at new closing peak of 15,690, Sensex at 52,232; Titan soars 7%

Titan clocked a massive rally of 7 per cent to end the day as top gainer, followed by ONGC, Kotak Bank, Bajaj Finance, Axis Bank, HDFC Bank, and L&T

5:53 PM

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

Nifty once again closed at a fresh record high on June 03 after opening with a gap-up. Sectoral rotation is back in focus. On Friday, week end considerations could result in some profit taking at these or higher levels. Outcome of RBI’s credit policy meet can impact Banking and other sectors though expectations are subdued therefrom. Advance decline ratio continues to be very positive. 15771-15598 could be the band for the Nifty in the near term.   

5:43 PM

TECH VIEW :: Nagaraj Shetti, Technical Research Analyst at HDFC Securities

The short term trend of Nifty continues to be positive and one may expect further upside in the coming session. Though, Nifty placed at all time highs, there is no indication of any reversal pattern unfolding at the swing highs. The next upside levels to be watched around 15800-15900 levels in the next few sessions. Immediate support is placed at 15575.

5:33 PM

MARKET STRATEGY :: Here're the stocks that need to be tracked on Friday

While the Nifty is moving towards 16,000, it has set a new record closing high. Today, Titan, ONGC and L&T helped bring the Nifty to end at higher levels. The Nifty has once again formed a bullish continuation today. Tomorrow is credit policy and the outcome of the RBI announcement could dictate the trend. For the Nifty, 15550/15600 are the support levels, however, the resistance is close to 15750/15800. The 15770/15780 levels could be a big hurdle. Investors shouldn't act aggressively in a rising market, and hence should buy on dips or stay stock specific. The focus should be on FMCG and Auto stocks

Views by: Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities

5:20 PM

TECH VIEW :: Nifty may reach 15,800 if it holds 15,600

The index witnessed one more positive breakout as it managed to close the day on fresh highs of 15,690. Now, as the Nifty index has shifted its support to 15,650-15,600 zone, sustainence of the said levels may result in a rally towards 15,800. One can also use every dip as a buying opportunity around said levels. On the immediate basis, 15,450 will be trend changing level as any onbreak below this level may see aggressive profit booking in index

Views by: Rohit Singre, Senior Technical Analyst at LKP Securities

5:01 PM

TRADING STRATEGY AMID SOARING MARKETS

The kind of price action we have been witnessing since few days, the commentary would sound a bit repetitive because there is nothing different to talk about. As we have been mentioning, every 100 points upside level should be treated as immediate resistance and now this level comes at 15800. On the flipside, 15600 would be seen as intraday support and any sustainable move below this point would trigger some mild corrective move towards 15525 – 15450. Only a handful of index heavyweights are giving some notable moves, otherwise the real action still continues in the broader end of the spectrum. Stock from the cash segment are literally roaring and hence it’s advisable to stick to this approach.

 

We reiterate, when market moves in such typical manner, it’s better not to get complacent and one should take one step at a time. Also, it would be a prudent strategy to avoid aggressive leveraged bets (especially overnight) because any in between hiccup may spoil your short term trading journey

Views by: Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel Broking

4:43 PM

MARKET OUTLOOK :: Indices may remain volatile amid RBI policy outcome, trade cautiously on Thursday

Markets resumed the uptrend after the minor pause and gained over half a percent, tracking firm global cues. The benchmark opened the gap up and traded range bound thereafter however movement on the stock-specific front kept the participants busy. Amongst the sectors, all the indices ended in green wherein Consumer Durables, Realty and Capital Goods were the top gainers. The broader markets continued its outperformance and ended higher by a percent each. On the benchmark front, Nifty finally settled at 15,690 levels; up by 0.7%.

 

All eyes would be RBI monetary policy tomorrow i.e. June 4 wherein the majority expect status quo on key rates. However, their commentary on growth and inflation would be closely watched by the participants. We may see volatile swings during the day so traders should plan their trades accordingly. 

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

4:29 PM

MARKET RECAP :: Vinod Nair, Head of Research at Geojit Financial Services

Domestic markets witnessed a range bound rally with strong buying interest seen in realty and consumer durables with small and mid cap stocks outperforming. The global market was cautious with the US and European markets trading in red ahead of the release of key economic US data. In the wake of increasing inflationary pressure, the domestic market is awaiting tomorrow’s RBI MPC announcement which is expected to maintain its accommodative stance

4:14 PM

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

Markets remained firmly in the grip of Bulls ahead of the RBI Policy and amid expectations of vaccinations being ramped up anf capex programs likely improving credit growth. Even as the Street is expecting the RBI to continue with its accommodative stance while keeping a watchful eye on Inflation led by rising commodity prices, we saw heightened activity in big names involved in building Infrastructure and in select high quality Midcaps

3:59 PM

Sector Watch :: Pharma index ends in the red in a frim market; Lupin, Biocon top laggards

3:58 PM

Sector Watch :: Realty stocks dazzle on the bourses; Oberoi, Phoenix Mills top gainers

3:56 PM

Stock of the day :: Muthoot Finance surges 7% on stellar Q4 show

3:55 PM

Stock of the day :: RIL ends flat after hitting 7-mth high in intra-day trade

3:54 PM

Stock of the day :: Titan Company soars 7%, hits record high

3:53 PM

NSE Snapshot :: Top Nifty50 gainers of the day

3:51 PM

Sensex contributors :: HDFC Bank, L&T, Titan, Kotak Bank lifted the index today

3:47 PM

Broader market :: S&P BSE SmallCap closes 1% higher at 24,075

>> Index hit record peak of 24,138 earlier today

3:46 PM

Broader market :: BSE MidCap index ends 1% up at 22,370

>> The index hit record peak of 22,395 earlier today

3:43 PM

Sectoral trends on the NSE :: Pharma index sole loser on NSE

3:40 PM

Sensex Heatmap at Close

3:35 PM

CLOSING BELL

The BSE barometer settled at a fresh closing peak of 52,232 levels, up 383 points or 0.74 per cent with the index breadth firmly tilting towards gainers. Only 9 of the 30 constituents ended the day in the red including IndusInd Bank, Bajaj Auto, M&M, Dr Reddy's Labs, and HCL Tech. 

 

On the NSE, the 50-share index added 114 points, or 0.73 per cent, to settle the day near record peak levels of 15,705 at 15,690.

 

3:28 PM

Asian equities clock biggest foreign outflows since March 2020

Asian equities in May clocked their biggest foreign outflows in 14 months due to a spike in COVID-19 cases in the region and as growing inflationary pressure tempered risk appetite.

 

Data from stock exchanges in South Korea, Taiwan, Philippines, Thailand, Vietnam, Indonesia and India showed foreigners net sold a combined total of $12.05 billion in regional equities, the highest since March 2020. READ MORE

3:15 PM

Govt to notify PLI scheme for auto components, steel, textile: Official

The government is looking at notifying the production-linked incentive (PLI) scheme, that was announced to boost domestic manufacturing, for sectors like auto components, steel, and textiles.

 

Additional Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sumita Dawra said that the government introduced the PLI scheme to encourage an incentive-led model for manufacturing, attracting advanced technologies, bringing in economies of scale and meeting quality standards. READ MORE

3:06 PM

ALERT :: Sensex surpasses previous closing high of 52,154

3:06 PM

ONGC, Oil India hit 52-week highs as Brent crude climbs above $71/bbl

Shares of state-owned oil exploration & production companies, Oil and Natural Gas Corporation (ONGC) and Oil India hit their respective 52-week highs on the BSE in intra-day trade on Thursday on rising crude oil prices. ONGC was up 4.4 per cent to Rs 122.95, surpassing its previous high of Rs 122.30, touched on March 8, 2021. Meanwhile, Oil India gained 3 per cent at Rs 140.70 (fresh 52-week high) in intra-day trade. READ MORE

2:56 PM

Q4 Results: APL Apollo Tubes

>> Revenue at Rs 2,587 crore, up 37% YoY

 

>> Net Profit at Rs 119 crore, up 110% YoY

 

>> EBITDA at Rs 210 crore billion, up 72% YoY

2:53 PM

Global markets :: Dow Jones Futures mildly in the red

2:47 PM

AMC stock extends surge as Reddit's retail frenzy reaches new heights

AMC Entertainment Holdings Inc. extended Wednesday’s surge in premarket trading as the Reddit retail-trading army continued to gorge on the stock, sending it to heights that has left Wall Street pros perplexed. After rising 95% to a record high in the last regular session, AMC gained 13% to $71.01 as of 4:02 a.m. in New York. The money-losing movie-theater chain has a market value of more than $30 billion, making it more valuable than at least half of the companies in the S&P 500 Index. READ MORE

2:37 PM

After a washed-out May, can auto sales rebound anytime soon?

Analysts tracking the sector expect the 'pent-up demand' story to play out from the second quarter of the financial year 2021-22 (Q2FY22) as states unlock. Furthermore, pick up in vaccination pace also holds the key for a revival in the auto space, they said.

 

The optimism of strong recovery is visible in the stock price movement of auto companies. Despite severe lockdowns across states in May, auto stocks have surged between 5-11 per cent last month, barring TVS Motors Company that shed 2 per cent. During the period, the BSE Auto index added over 8 per cent as against a rise of 6 per cent in the benchmark Sensex. READ MORE

2:26 PM

Nifty Auto worst sectoral performer; Motherson Sumi sheds 7%

2:24 PM

MARKET CHECK :: Sensex off lows, gains 300 pts