Sensex, Nifty trade sideways with modest gains

The benchmark indices traded in narrow range with modest gains in morning trade. The Nifty hovered below the 15,750 level. IT, banks and financial shares advanced while realty stocks came under pressure. The June 2021 F&O contracts will expire today, 24 June 2021.

At 10:24 IST, the barometer index, the S&P BSE Sensex, was up 203.12 points or 0.39% at 52,509.97. The Nifty 50 index was up 48.85 points or 0.31% at 15,735.95.

In broader market, the S&P BSE Mid-Cap index was down 0.27% while the S&P BSE Small-Cap index was down 0.06%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,563 shares rose and 1,075 shares fell. A total of 112 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 179,537,489 with 3,890,422 global deaths.

India reported 627,057active cases of COVID-19 infection and 391,981deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.

Reliance Industries AGM:

Reliance Industries (RIL) fell 0.14%. RIL will conduct its 44th AGM virtually today, 24 June 2021, at 14:00 IST. The oil-to-telecom conglomerate may make announcements across its telecom, retail and O2C businesses.

New Listing:

Shares of Shyam Metalics and Energy were currently trading at Rs 378.65 per share at 10:19 IST on the BSE, at a premium of 23.74% to the issue price of Rs 306 per share. The scrip was listed at a price of Rs 367 per share, at a premium of 19.93% as compared to issue price. The stock has hit a high of 399.10 and a low 367 so far in the trading session. On the BSE, 10.72 lakh shares were traded in the counter. The initial public offer (IPO) of Shyam Metalics and Energy received bids for 256.11 crore shares as against 2.10 crore shares on offer, according to the stock exchange data. The issue was subscribed 121.43 times.

Shares of Sona BLW Precision Forgings were currently trading at Rs 309.60 per share at 10:16 IST on the BSE, at a premium of 6.39% to the issue price of Rs 291 per share. The scrip was listed at a price of Rs 302.40 per share, at a premium of 3.92% as compared to issue price. The stock has hit a high of 316 and a low 295.15 so far in the trading session. On the BSE, 7.78 lakh shares of the company were traded in the counter. The initial public offer (IPO) of Sona BLW Precision Forgings received bids for 24.44 crore shares as against 10.71 crore shares on offer, according to the stock exchange data. The issue was subscribed 2.28 times.

Buzzing Index:

The Nifty Bank index added 189.45 points or 0.55% to 34,763.45, snapping its two day losing streak. The banking index saw bargain hunting after slipping nearly 1% in two days.

Bandhan Bank (up 0.98%), ICICI Bank (up 0.91%), Axis Bank (up 0.84%), AU Small Finance Bank (up 0.83%), SBI (up 0.55%), HDFC Bank (up 0.46%) and RBL Bank (up 0.41%) were top gainers in banking space.

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