IT stocks shine in lacklustre trade; Sensex ends 99 pts higher

CLOSING BELL ON JUNE 12, 2023: The Nifty reclaimed the 17,600 level; In the broader market, BSE Midcap index advanced 0.5 per cent, and Smallcap added 0.7 per cent on Monday.

4:13 PM

Tech View :: 'Investors have conflicting opinions regarding the future direction of Bank Nifty'

The Bank Nifty index has been trading in a range-bound manner, indicating a lack of clear direction in the market. This trend persisted during the trading session. The market seems uncertain and cautious as it awaits key events such as the release of CPI data and the US Federal Reserve meeting. Heavy open interest in the 44000 Call Option (CE) and Put Strike suggests a significant level of trading activity and a fight between the bears and the bulls. This indicates that market participants have conflicting opinions and expectations regarding the future direction of the index.

Views by:Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

4:06 PM

Tech View :: Charts show consolidation to continue in Nifty

The Nifty witnessed rangebound price action today. It traded within the range (18677 – 18555) of the previous trading session and closed with gains of 38 points. On the daily charts, we can observe that the Nifty has closed in the green after falling for two consecutive days. Nifty has managed to hold on above the 18530 level below which the uptrend is likely to change. The hourly momentum indicator has triggered a fresh positive crossover, however, the daily momentum indicator has a negative crossover and thus provides divergent signals. The Bollinger bands are contracting indicating that there can be a consolidation. Thus, both price and momentum indicators is suggesting that there could be a consolidation in the near term and the overall uptrend is still intact. In terms of levels, 18530 – 18500 shall act as a crucial support zone while 18778 – 18800 shall act as an immediate hurdle zone.

Views by: Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas

4:02 PM

Market Strategy :: 'Focus more on stock selection and risk management'

It is a normal pause after the recent dip and participants shouldn’t read much into it. We feel the performance of the banking index, which is currently trading closer to the crucial support zone of short term moving average i.e. 20 EMA, would play a crucial role in the next directional move. Meanwhile, we reiterate our view to focus more on stock selection and risk management.

Views by: Ajit Mishra, VP - Technical Research, Religare Broking Ltd.

3:52 PM

Comment :: Why are Indian markets range-bound?

The domestic indices are moving with caution as investors step up to a data-loaded week both in the domestic and global markets. However, the expectations are optimistic, like the Indian CPI data is forecasted to moderate and the Fed & BoJ are expected to maintain their policy rates. Other major events on the centre stage are domestic IIP, WPI inflation, and policy announcements from ECB. The market anticipates ECB to increase their rates further while recessionary risk is rising.

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

3:50 PM

ALERT :: UBS names Credit Suisse's Head, Mihir Doshi, as India Head

3:49 PM

Currency check :: Rupee ends at 82.43/$ against Friday’s close of 82.46/$

3:45 PM

Buzzing stock :: PTC Industries freezes at 20% upper circuit on robust outlook

3:42 PM

Buzzing stock :: Tata Motors DVR tops Rs 300-mark intra-day after 6 years

3:41 PM

Buzzing stock :: Delhivery zooms 9% on heavy volumes

3:38 PM

Broader market rally extends on the bourses, SmallCap index up 0.7%

3:37 PM

Sectoral trends :: Private banks, pharma slide, IT index outshines

3:35 PM

Sensex Heatmap :: 10 of 20 stocks end in red; IT stocks lead, L&T, Maruti drag

3:34 PM

CLOSING BELL :: Nifty ends flat with positive bias

3:33 PM

CLOSING BELL :: Sensex ends 99 pts higher in a lackluster session

3:22 PM

Tata Motors DVR jumps nearly 3%; crosses Rs 300 mark after over 6 years

With debt on a substantial downward trajectory and consequently interest outgo, it outlined its intention to commensurately increase dividends, going forward positive for DVR shareholders. READ MORE

3:09 PM

ALERT:: Ahluwalia Contracts wins order worth Rs 426.57 crroe; stock up 1%

Ahluwalia Contracts (India) has secured an order for Construction of Civil, Structure and External Development work for Retail Block at DIAL II, Aerocity, New Delhi worth of Rs 426.57 crore, the company said in a release to the BSE.

3:04 PM

ALERT:: Caplin Point arm gets USFDA nod for Cisatracurium Besylate injection; stock up over 1%

Caplin Steriles, a Subsidiary of Caplin Point Laboratories, has been granted final approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Cisatracurium Besylate Injection.

 

2:54 PM

ALERT:: Brent Crude extends fall, down 2.5% at $73 per barrel

Source: Investing.com

2:44 PM

Billionaire George Soros hands over reins of $25 bn empire to son, Alex

US billionaire philanthropist George Soros has handed over the reins of his $25 billion financial and charitable empire to his son Alex, saying the latter had earned it, the media reported. READ MORE

2:33 PM

ALERT:: CoForge partners FundMore for Canada projects; stock up 2%

CoForge in association with FundMore will work on a project to develop a state-of-the-art platform designed to automate QC, risk management and regulatory compliance in the mortgage industry in Canada.

2:19 PM

UBS Group completes takeover of Credit Suisse to create bank titan

The Swiss bank announced the closing of the deal in an open letter in local and international newspapers on Monday. The takeover of Credit Suisse ends the lender's 167-year independent existence. READ MORE

2:09 PM

Gokaldas Exports rises 9% to hit 52-week high on hopes of better outlook

The management highlighted that most US customers could start buying from Q3FY24 for the next season and overall demand should improve from Q4FY24. READ MORE

1:59 PM

ALERT:: Satin Creditcare board to consider fund raise; stock jumps 3%

Satin Creditcare board is scheduled to meet on June 12 to consider a proposal for raising funds by way of issue of securities.

1:49 PM

ALERT:: MEERA Inds wins Rs 5.7 cr order; stock up 6%

1:42 PM

Pepper Group to invest $150 mn over 4 yrs to establish fintech in India

Global consumer finance company Pepper Group on Monday said it will invest $150 million over the next four years to establish a fintech in India. READ MORE

1:32 PM

Market Check:: BSE IT index at day's high; Infy, HCL Tech rally over 2%

1:20 PM

ALERT:: MIC Electronics wins Rs 8.37 cr order; stock up 4%

MIC Electronics informed BSE that the company has won aggregate orders worth Rs 8.37 crore under the Amrit Bharat Scheme.

1:09 PM

Asian Market Update:: A mixed outing; Nikkei gains, Kospi slips

Source: Yahoo Finance

12:58 PM

Nifty Smallcap 100 index outperforms benchmark, led by Suzlon, BCG

12:45 PM

JSW Cement raises Rs 400 cr via sustainability-linked loan from BNP Paribas

In October last year, the company had signed another SLL agreement of Rs 400 crore with Japan's Mitsubishi UFJ Financial Group. READ MORE