Sensex rises for 3rd straight day, up 85pts ahead of Fed outcome; RIL leads

CLOSING BELL ON JUNE 14, 2023: Sectorally, the BSE Metal index surged 1.6 per cent. The Energy and Oil & Gas indices were also up nearly a per cent each.

4:01 PM

Tech View :: '18,778 – 18,800 shall act as an immediate hurdle zone for Nifty'

On the daily charts, we can observe that the Nifty has managed to close in the positive for the third consecutive day. It is slowly inching higher towards the previous swing high 18,778 which once taken out shall lead to further upside. The hourly and daily momentum indicators are providing divergent signals which is likely to align once we get a decisive move on either side.

Overall, the uptrend is intact, and we expect it to reach levels of 18,800 in the short term. In terms of levels, 18,630 – 18,620 shall act as a crucial support zone while 18,778 – 18,800 shall act as an immediate hurdle zone.

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

3:59 PM

Comment :: 'Recent recovery in Nifty index lacks decisiveness'

The recent recovery in the Nifty index lacks decisiveness due to underperformance from the banking index and we expect this divergence to end soon. Meanwhile, buying in heavyweights like Reliance  has played a critical role in keeping the tone positive. Amid all, we reiterate our view to stay selective and prefer sectors/stocks that are attracting consistent buying interest.  

 

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

3:58 PM

Comment :: 'Higher core inflation may compel US Fed to maintain hawkish tone'

The domestic indices rebounded after an initial phase of profit booking, driven by encouraging WPI inflation data and positive global cues, while selling in IT and banking stocks kept a check on gains. The favourable decline in US inflation, driven by lower energy prices, and speculation about a potential pause in the Fed rate hike campaign, brought comfort to global equities. However, the persistence of higher core inflation levels may compel the Fed to maintain its hawkish tone during today’s policy announcement with indication of a prolonged pause.

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

3:55 PM

Currency check :: Rupee ends higher at 82.10/$ vs Tuesday’s close of 82.37/$

3:54 PM

Buzzing stock :: V-Mart ends 6% higher after about 3% equity changes hands

3:51 PM

Buzzing stock :: Paytm hits 52-week high, rallies 20% in 6 days

>> BofA Securities upgraded the stock  to 'Buy' with a target price of Rs 885

3:50 PM

Buzzing stock :: Heranba Industries rallies over 12% as GPCB revokes plant closure order

3:47 PM

Buzzing stock :: KEI Industries ends near 52-week high on order win worth Rs 1,373 crore

3:46 PM

Buzzing stock :: CDSL ends off lows after block deal

>> Nearly 5% equity changed hands on the NSE in early hours of the session

>> BSE has reportedly offloaded stake 

3:43 PM

Buzzing stock :: Vodafone Idea pares gain after rising 10% intra-day

>> According to reports, promoters are planning to infuse Rs 14,000 crore in the company.

>> The company has not issued any statement wrt the report.

3:41 PM

Sector Check :: Nifty IT index ends mildly in the red amid downgrade by JPMorgan

3:40 PM

Sector Check :: Nifty Metal index gains over 1% aid reports of stimulus package announcement in China

3:38 PM

Broader markets outshine large-cap indices yet again

3:37 PM

Sectoral trends :: Nifty Metal index rises, Banks, IT stocks fall

3:35 PM

Sensex Heatmap :: 16 stocks rise on the index vs 14 declining stocks

3:34 PM

CLOSING BELL :: Nifty holds 18,750 ahead of US Fed outcome tonight

3:32 PM

CLOSING BELL :: Sensex bounces off lows, ends higher for third day

3:23 PM

Global Check:: UK stock futures up over 0.5%; US mixed ahead of FOMC meet outcome

Source: Investing.com

3:11 PM

Paytm hits 52-week high; surges 20% in 6 days on BofA's 'buy' call

Shares of One97 Communications (Paytm) hit a 52-week high of Rs 854.90, gaining 2 per cent on the BSE in Wednesday's intra-day trade. In the past six trading days, the stock of the fintech company has rallied 20 per cent after brokerage firm BofA Securities upgraded the stock to 'buy' citing its dominant position in the payment industry. READ MORE

3:00 PM

UK economy recovers slightly in April but strikes to keep lid on growth

The British economy bounced back in April amid strong sales at bars and pubs as well as a rebound in car purchases, according to official figures. READ MORE

2:51 PM

Mutual funds may not get holdings waiver post HDFC Bank-HDFC merger: Report

As per SEBI rules, a mutual fund scheme cannot invest more than 10% in a single security. However, exchange-traded funds and funds that invest in particular sectors are exempt. READ MORE

 

2:40 PM

Heranba Inds up 16% as Gujarat Pollution Control Board revokes closure order

Shares of Heranba Industries surged 15.6 per cent to an intra-day high of Rs 412 apiece on the BSE on Wednesday after the company said that Gujarat Pollution Control Board (GPCB) has revoked the order directing the closure of the operation at its Vapi’s Pant units. READ MORE

2:31 PM

ALERT: Ramkrishna Forgings bags contract in Europe worth 4.5 mn euros; stock up 2%

Ramkrishna Forgings has bagged an order worth 4.5 million euros from a prominent passenger rail coach manufacturer in Europe. The contract has to be fulfilled within a span of two years. READ MORE

2:22 PM

US actively working to help India attract private capital: Yellen

"Together, I believe our innovations can help push down the cost curves of new technologies and accelerate the world's transition to a net-zero economy," Yellen said. READ MORE

2:10 PM

Tata Consumer hits record high; rallies 5% on positive growth outlook

Analysts at ICICI Securities believe the India business (food & beverage) would continue to dominate with higher growth from newer segments. READ MORE

1:59 PM

Sector Alert:: BSE Metal index up 1.5%; Tata Steel, JSW Steel gain 2%

1:47 PM

Market Check:: Sensex at day's high, up over 100 points

1:37 PM

Income Tax dept planning to challenge ITAT ruling on ZEE-Sony merger

The Income Tax Appellate Tribunal (ITAT) had claimed that the IT's contribution to play-out facilities was an afterthought. READ MORE

1:27 PM

Asian Market Update:: Nikkei extends rally, up 1.5%; Hang Seng slips 0.8%

Source: Yahoo Finance

1:16 PM

Concor disinvestment: Dipam may seek finmin, inter-ministerial group help

Govt seeks to sell stake worth Rs 12,000 cr in national transporter this fiscal as part of disinvestment target. READ MORE