Stock Market Highlights, June 24: Sensex, Nifty end higher after a day's hiatus; VIX jumps 6%

Stock Market Highlights on Monday, June 24: Sectorally, the Nifty Media index fell 1.8 per cent, followed by the Nifty Metal, and PSU Bank indices (down 0.6 per cent each)

3:48 PM

Tech View :: 'Nifty trend remains positive'

Nifty trend remains positive for the short-term as long as it remains above 23,300, where a buy-on-dips strategy might favor traders.

On the higher end, resistance is seen at 23,600. A decisive move above 23,600 might lead call writers to unwind their positions.

Views by: Rupak De, Senior Technical Analyst, LKP Securities

3:47 PM

Comment :: What all moved in the markets today?

Despite the market being on a consolidative path, sectoral churning is visible in FMCG and consumer durables in anticipation of the budget expectations.

Better tax collection and dividends from the RBI will encourage GoI on rural spending and tax benefits.

In mid- and small caps, though the margin of safety in terms of valuation remains lacking, investors are keener on the growth story in capital goods, infra, auto, etc.

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

3:45 PM

Currency check :: Rupee ends 7 paise firmer vs US dollar

3:43 PM

Broader markets :: Mid, SmallCap indices outshine large-caps

3:41 PM

Sectoral trends :: Media, Metal indices slip in trade

3:40 PM

Sensex Heatmap :: M&M, Power Grid, Sun Pharma help index stage recovery

3:39 PM

Closing Bell :: Nifty holds 23,500

3:38 PM

Closing Bell :: Sensex ends atop 77,300, up over 100 pts

3:28 PM

ZEE can withdraw its merger implementation application: NCLT

ZEEL had initially filed the implementation application following the termination of the merger agreement by Culver Max and Bangla Entertainment on January 22, citing an alleged breach of the merger cooperation agreement (MCA). READ MORE

3:17 PM

Route Mobile jumps 17.5% on expanding WhatsApp-based ticketing service

At 2:36 PM, Route Mobile share price was up 14.4 per cent at Rs 1,750 per share as against 0.08-per cent rise in the benchmark BSE Sensex. Decent volume was seen on the counter with 3.8 million shares having changed hands till the time of writing of this report. READ MORE

3:02 PM

ICICI Bank share price hits record high today, gains 9.5% from June 4 low

ICICI Bank share price hit a record high of Rs 1,175.7 apiece on the BSE on Monday, after it gained 1.5 per cent in the intraday trade. With today's gain, ICICI Bank share price has surged 9.5 per cent from its June 4 low of Rs 1,073 per share. READ MORE 

2:53 PM

Exicom Tele-Systems zooms 40% in 4 days on strategic pact with Hubject

In the past four trading days, the stock has zoomed 40 per cent after Hubject, the electric vehicle (EV) Interoperability market leader, entered into a strategic partnership with the company. This includes Hubject’s intercharge platform, which will make it easier for EV drivers to find and charge points, and then simply charge when needed. READ MORE

2:41 PM

Century Textiles shares gain 6% after acquiring residential land in Pune

Shares of Century Textiles soared up to 5.9 per cent at Rs 2,347 per share on the BSE in Monday’s intraday deals. This came after the company’s subsidiary Birla Estates and the real estate arm of the Aditya Birla Group, is set to expand its presence in Pune with a land acquisition in Manjri.  READ MORE

2:32 PM

Nifty 50 ETF reigns supreme: 95% dominance in India's booming ETF market

Study reveals that ETFs on top 3 broad indices i.e., Nifty 50 ETF, Nifty Next 50 ETF and Nifty Midcap 150 ETF contribute more than 99% of total AUM among broad indices in Equity ETF schemes. READ MORE

2:22 PM

This EPC firm's stock price zoomed 52% in last six months, 182% in one year

Shares of RPP Infra projects skyrocketed up to 20.15  per cent at Rs 155 per share in Monday’s intraday trade. The stock price of the company has zoomed 52.29 per cent in the last six months, while 182.36 per cent in the last one year. READ MORE

2:14 PM

From bricks to stocks: Indian family houses take leap with new-found wealth

Punit Shah, a Partner with Dhruva Advisors, a consultancy firm, notes that many families want to set up offices to manage wealth after selling their traditional companies. READ MORE

2:07 PM

Polycab India hits new high; stock zooms 90% from January low

Polycab share price: The management believes the FMEG industry is poised to accelerate its growth in the FY 2024- 25, driven by steady urban consumption and improved prospects for rural demand. READ MORE

1:59 PM

ALERT:: Satin Creditcare opens first branch in Nagaland; stock down 3%

Satin Creditcare in an exchange filing today siad the company has ventured into Nagaland with the opening of its first branch.

The NBFC-MFI has become the first leading microfinance institution to enter Nagaland, strengthening its footprint in 27 states and union territories and consolidating its position as a pioneering force in the industry, the release stated.

1:49 PM

Fintech firm Paytm sees 19% growth in flight bookings in Jan-Mar quarter

Fintech firm One97 Communications claims to have registered on-year growth of 19 per cent growth in flight bookings in the January-march quarter of this year, the company said in a regulatory filing on Monday. READ MORE

1:39 PM

Welspun Specialty zooms over 17% on bagging Rs 117 cr-order from BHEL

Welspun Specialty shares rally: Shares of Welspun Specialty Solutions soared as much as 17.36 per cent to hit an intraday high of Rs 44.40 per share on Monday, June 24, 2024.  READ MORE

1:28 PM

Pilani, Vardhman: Here's why shares of Holding firms rallied up to 20%

Market regulator Sebi on Thursday announced a framework for special call auctions with no price bands for price discovery of investment holding companies. READ MORE

1:21 PM

Hero MotoCorp to raise prices of few models by up to Rs 1,500 from July

Hero MotoCorp on Monday said it will hike prices of select motorcycle and scooter models by up to Rs 1,500 with effect from July 1, 2024 in order to partially offset the impact of higher input costs. READ MORE

1:12 PM

Garden Reach Shipbuilders stock price rallies 11% on $54 million order win

The rise in stock price came after the company announced that it has secured an international order worth $54 million for the construction and delivery of four multi-purpose vessels of 7,500 DWT each. READ MORE

1:04 PM

Tech layoffs: 98,000 impacted as Apple, Google, others continue job cuts

The tech industry is experiencing a significant wave of job cuts, with more than 98,000 employees laid off from over 330 companies globally in the first half of 2024. Layoffs.fyi, a platform monitoring tech layoffs, reported that 98,834 employees have been affected.  READ MORE

12:58 PM

ALERT:: MapmyIndia announces lauch of ClarityX; stock sheds 4%

MapmyIndia in an exchange filing today said the company has expanded its enterprise offerings in partnership with ClarityX, an AI Driven Data Analytics & Consulting Company. 

 

MapmyIndia founders, Rakesh Verma & Rashmi Verma, today announced the launch of ClarityX, a company that is dedicatedly focused on providing enterprise clients with cutting-edge and bespoke, customer-centric AI Driven Data Analytics & Consulting. ClarityX capabilities will help expand MapmyIndia’s enterprise offerings and addressable market.

12:51 PM

IREDA shares gain 4% after NCD fundraise gets oversubscribed by 2.65 times

Shares of Indian Renewable Energy Development Agency (IREDA) surged up to 4.2  per cent at Rs 195.35 per share in Monday’s intraday trade. This came after the company on last Friday announced that it successfully raised Rs 1,500 crore through issuance of non convertible debentures (NCD). READ MORE

12:44 PM

Explained: Why is Sebi probing Quant MF and how will it impact investors?

Sebi's investigation stems from red flags raised by their surveillance system. These flags indicated a potential pattern where trades by certain entities closely mirrored those of Quant Mutual Fund. READ MORE

12:37 PM

HG Infra Engineering shares rally 8% on incorporating six new solar units

Shares of HG Infra Engineering soared up to 7.7 per cent at Rs 1,877 per share in Monday's early morning deals. This came after the company incorporated six new solar power units. READ MORE

12:30 PM

S&P retains India FY25 GDP growth estimate at 6.8%; forecast lower than RBI

S&P Global Ratings on Monday retained India's GDP growth forecast for the current financial year at 6.8 per cent and said high interest rates and lower fiscal spur would temper demand. READ MORE

12:23 PM

ALERT:: Asian shares display mixed trend on Monday, June 24