Auto, Pharma stocks shine in lacklustre trade; IdeaForge IPO subscribed 3x

CLOSING BELL ON JUNE 26, 2023: The Sensex ended on a flat note, down 9 points, while the NSE Nifty 50 gained 26 points in trade on Monday.

4:15 PM

Comment :: 'Participants should prefer defensive sectors'

We feel it is a breather after the recent dip and needs sustainability above 18,600 in Nifty for any meaningful rebound. Meanwhile, participants should prefer defensive viz. pharma and FMCG and choose selectively from others. 

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking

4:04 PM

Comment :: 'Expect markets to consolidate in the near term'

We expect the market to consolidate in the near term before resuming the upward journey. Sectors like Auto, and FMCG would be in focus with the progress of the monsoon. The primary market is also in buzz with the Ideaforge IPO getting subscribed 2.5x on the first day itself, while Cyient DLM IPO will be open for retail participants on Tuesday.

 

Views by: Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services

3:58 PM

Tech View :: '18,650 remains make or break level for Nifty'

Nifty traded around its 20 DEMA support for the entire day and managed to hold above the support level. However, the momentum was missing in the indices but the midcaps witnessed decent outperformance due to which the overall market breadth was healthy.

The Nifty index is trading around its crucial support for 18,650 and it needs to be seen if it manages to resume the uptrend from this support. The momentum readings which were in the overbought zone during last week have cooled-off in last couple of sessions and since the buying interest still continues, we could see a resumption of the upmove in the near term.

Hence, traders are advised to trade with the trend and keep a tab on the support of 18,650. A close below this support would then lead to some price wise correction while if this support remains intact, then a pullback again towards 18,670-18,730 could be seen. T

Views by: Ruchit Jain, Lead Research, 5paisa.com

3:55 PM

Comment :: 'Strength in mid, smallcaps show investors' confidence'

The global market exhibited a negative bias as concerns regarding economic growth emerged in light of the political instability in Russia. This instability led to an increase in oil prices, driven by worries over potential supply disruptions, given Russia's status as one of the largest oil producers. On the domestic front, the market experienced limited downside as the pharma and auto sectors provided support. Additionally, mid and small-cap stocks were seen recovering their positions following a recent sell-off, indicating a regained investor confidence in these segments.

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

3:53 PM

Currency check :: Rupee ends lower at 82.04/$

3:50 PM

IPO Alert :: IdeaForge issues subscribed 3x till 3:30 PM on solid retail push

>> Retail quota filled 11x

>> Employee portion 6.6x

Note: Bidding closes at 5:00 PM

3:47 PM

Buzzing stock :: Parag Milk foods surges 15% as pvt fund buys stake

3:44 PM

Buzzing stock :: Policybazaar zooms over 7%, nearly doubles from 52-week low level

>> Stock hit 52-week high in intra-day trade

3:42 PM

Buzzing stock :: ICICI Securities leaps 11% on delisting plan

3:41 PM

Buzzing stock :: Shree Cement sinks 10% intra-day, ends off lows

Shares of Shree Cement plunged 10 per cent to Rs 22,601 on the BSE in Monday’s intra-day trade after Income Tax department, last week, initiated a survey action at five locations of the cement manufacturer. In past two trading days, the stock has slipped 12 per cent. It hit lowest level since January 2023.

3:39 PM

Sector of the day :: Hero MotoCorp, Motherson lead gains in auto pack

3:38 PM

Sector of the day :: Pharma stocks surge the most in an otherwise muted trade

3:37 PM

Broader market indices outshine benchmarks; MidCap index rises 1%

3:36 PM

Sectoral check :: Nifty PSU Bank index settles as the only loser Monday

3:34 PM

Sensex Heatmap :: 11 stocks slide on the index; TCS, RIL, Airtel weigh

3:33 PM

CLOSING BELL :: Nifty adds 26 points on Monday

3:32 PM

CLOSING BELL :: Sensex ends with a meagre loss of 9 points

3:22 PM

Global Check:: US, UK stock futures marginally in red

Source: Investing.com

3:12 PM

'RBI need not rush to ease rates unless certain of stable-low inflation'

Bhide's comments echo that of Governor Shaktikanta Das that a pivot can be considered when price-gains settle near the mid-point of its 2%-6% range on a durable basis. READ MORE

3:02 PM

Mahindra's 5-door Thar to be launched in South Africa on Aug 15; details

Mahindra & Mahindra will present its much-awaited five-door version of Thar at its annual event on Independence Day, August 15 this year. The five-door Thar launch will take place in South Africa, Autocar India (ACI) reported. READ MORE

2:53 PM

Market Check:: BSE Auto index at day's high, up 1%; Hero MotoCorp, M&M, Maruti rally around 2%

2:43 PM

ALERT :: PKH Ventures sets price band at Rs140 to Rs 148 per equity share

Price Band of Rs 140 – Rs 148 per equity share bearing face value of  Rs 5 each

Bid/Offer Opening Date – Friday, 30 June, 2023 and Bid/Offer Closing Date – Tuesday, 4 July, 2023.
 

Minimum Bid Lot is 100 Equity Shares and in multiples of 100 Equity Shares thereafter.
 

The Floor Price is 28.00 times the face value of the Equity Share and the Cap Price is 29.60 times the face value of the Equity Share.

 

2:34 PM

Market Check:: BSE MidCap index at day's high, up 0.7%

2:21 PM

European natural gas prices rise as Russian mutiny adds to supply fear

The uncertainty of what could happen in the coming weeks within Russia itself, rather than within Ukraine, is pushing gas higher. READ MORE

2:12 PM

ALERT :: SAT to continue hearing Punit Goenka vs Sebi case on June 27

2:10 PM

ALERT:: RailTel secures Rs 294 cr order; stock up 1%

RailTel Corporation of India has received the work order from Tamil Nadu State Marketing Corporation (TASMAC)for Implementation of the Project on Integrated Solution enabling End-to-End computerization & connectivity of Core and Support functions of TASMAC for a period of 5 years, amounting to Rs 294.37 crore.

2:01 PM

Oilseed exports may grow by 10-15% this fiscal as traders get good orders

The key export destinations for India are Indonesia, Vietnam, China, Malaysia, the Philippines, and the European Union. READ MORE

1:50 PM

ALERT:: MIC Electronics wins Rs 5.13 cr order; stock down 2%

1:40 PM

TCS enters strategic partnership with Standard Life International DAC

With this partnership, TCS will set up a customer operations centre in Germany and a future-ready life and pensions digital platform for Germany and Austria. READ MORE

1:29 PM

ALERT:: MCX at day's high, up 4%; Successfully tests its new trading platform