Fag-end buying lifts Sensex 159pts, Nifty atop 18,800; TaMo, HCL Tech up 3%

Closing Bell on June 20, 2023: Afternoon buying in Tata Motors, HCL Tech, Kotak Bank, RIL, Power Grid, Infosys, L&T, Axis Bank, TCS, and Tech M lifted the indices

4:09 PM

COMMENT:: IT, auto stocks help markets recover

"The Indian market opened cautiously due to weak global cues, with heightened concerns over the Chinese economy following their decision to cut interest rates after a 10-month pause. Global worries were amplified by concerns of a possible rate hike by the US Fed in its July meeting, with investors eagerly awaiting Powell’s testimony. However, the indices managed to recover smartly, led by upside in IT and Auto stocks."

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

4:08 PM

VIEW:: Bank Nifty likely to see sharp short-covering above 44,000

"The Bank NIFTY index saw the bulls hold a support level of 43,400. Currently, the index is trading within a broad range between 43,400 and 44,000. A breakout on either side of this range is likely to result in trending moves. As long as the support level of 43,400 is held, a buy-on-dip approach is suggested. Once the index surpasses the level of 44,000 it will witness sharp short covering on the upside towards 45,000 levels."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities

 

4:06 PM

HDFC AMC surges 11% after 10% equity change hands via block deals

According media reports, abrdn Investment Management, promoter of HDFC AMC, was to exit the company through sale of the entire 10.2 per cent stake. READ MORE

4:03 PM

Zee Entertainment declines over 6%; hits 52-week low on heavy volumes

The stock quoted its lowest level since September 2021, with over three-fold jump in average trading volumes. READ MORE

4:02 PM

Fusion Micro, Spandana: Rally in MFI stocks has more legs, say analysts

Analysts expect the sector to see strong loan growth in FY24 and FY25 driven by increase in ticket sizes, strong customer acquisitions, and regulatory tailwinds. READ MORE

4:00 PM

Stock of this auto ancillary company has zoomed over 60% so far in June

Shares of Jay Bharat Maruti hit a fresh 52-week high at Rs 80 in Tuesday's trade in an otherwise volatile market. READ MORE

3:58 PM

Tata Motors nears record high on improved outlook; zooms 50% so far in 2023

Improved gross cash accruals and strong liquidity position with the management's focus to attain zero net auto debt is expected to lead to significant improvement in leverage and debt coverage metrics. READ MORE

3:57 PM

Timken India slips 7% on heavy volume

The counter had seen combined traded volume of around 12 million shares in the first hour of trading amid reports of parent company to offload stake. READ MORE

3:55 PM

Aurionpro hits 5% upper circuit as board approves preferential issue to Malabar India Fund

The board approved allotment of 255,000 equity shares and 425,000 warrants to Malabar India Fund and 45,000 equity shares and 75,000 warrants to Malabar Midcap Fund. READ MORE

3:53 PM

IndiGo hits new peak post 500 Airbus aircraft order; experts see 29% upside

With an order of 480 aircraft already in place, IndiGo’s total outstanding order now stands at nearly 1,000 aircraft. Moreover, with this new order, IndiGo has ordered a massive total of 1,330 aircraft from Airbus since its inception in 2006. READ MORE

3:52 PM

IIFL Securities plunges 16% as Sebi bars onboarding of new clients for 2 years

The SEBI has prohibited the Company from onboarding new clients for a period of two years in respect of its business as a stock broker. READ MORE

3:48 PM

BSE Power index was up 1%; PowerGrid surges 2.5%

3:47 PM

Market Breadth was fairly positive; Near about 1,950 stocks advanced v/s 1,560 declining shares on the BSE

3:45 PM

BSE Smallcap Heatmap:: Subros hits 20% upper limit; IIFL Securities plunges 16%

3:43 PM

BSE Midcap Heatmap:: Shriram Finance, PEL zoom 6%; Zee tanks 6%

3:41 PM

Broader market outperform marginally; India VIX dips 0.8%

3:39 PM

Nifty 50 Losers:: Bajaj twins, Sun Pharma, M&M top charts

3:38 PM

Nifty 50 Gainers:: Tata Motors, HCL Tech, PowerGrid Corp rally up to 3%

3:36 PM

Sensex 30 Heatmap:: 20 Gainers v/s 10 Losers

3:35 PM

CLOSING BELL:: NSE Nifty gains 61 points, settles at 18,817 as against the day's low of 18,661

3:33 PM

CLOSING BELL:: S&P BSE benchmark rallies 638 points from day's low, ends 159 pts higher at 63,328

3:26 PM

ALERT:: Rail Vikas Nigam secures Rs 1,730.59 cr order; stock down 1%

Rail Vikas Nigam Limited has received secured three (3) nos. Letter of Acceptance from Chennai Metro Rail Limited (CMRL) of Underground Stations for phase-II Project. The order size is valued around Rs 1,730.59 crore.

3:22 PM

Global Check:: US, UK stock futures down around 0.5%

Source: Investing.com

3:11 PM

ALERT:: BEL bags Rs 3,914 cr order for Akash Prime Weapon System; stock up 0.5%

Bharat Electronics (BEL) has received an order for 2 Regiments of Improved Akash Weapon System (AWS) with upgrades from Bharat Dynamics for Rs 3914 crore. The company also informed BSE, that it has received orders worth Rs 5c900 crore so far in FY24.

3:01 PM

ALERT:: Airtel to partner Matter Motor Works for AERA motorbikes; stock flat

Matter Motor Works, a technology-led innovation start-up, and Bharti Airtel today announced a strategic partnership to  deploy Airtel's IoT solution in Matter AERA, India's first and only geared electric motorbike.

2:51 PM

Short term debt funds are in demand: Where should you park your funds?

Active debt funds, where the fund manager buys and sells bonds based on assessment of interest rates, prevailing yields and credit risk, dominated the monthly flows in both April and May 2023, dwarfing flows into equity, hybrid and passive funds. READ MORE

2:40 PM

ALERT:: Innovators Facade Systems wins twin orders; stock soars 10%

Innovators Facade Systems has received work orders for Design, Supply, Fabrication and Installation of Façade Work for The Prestige - Tower D, Mumbai of Rs 29.73 crroe & IKEA GMP Project, Gurgaon of Rs 97.84 crore.

2:28 PM

ALERT:: TruCap Finance announces NSE listing; stock down 1%

TruCap Finance, formerly known as Dhanvarsha Finvest, a BSE listed non-banking finance company (NBFC), has listed its equity shares on the National Stock Exchange (NSE) today. 

 

2:19 PM

Biz route taken by India's renewable IPPs to mirror credit quality: Moody's

According to Moody's, the paths chosen by the renewable energy IPPs will have a varying impact on their respective business and financial risk profiles. READ MORE

2:08 PM

Tata Motors nears record high on improved outlook; zooms 50% so far in 2023

Improved gross cash accruals and strong liquidity position with the management's focus to attain zero net auto debt is expected to lead to significant improvement in leverage and debt coverage metrics. READ MORE