Sensex rallies 467 pts, Nifty tops 18,800; RIL, HDFC duo lead, IT caps gain

CLOSING BELL ON JUNE 16, 2023: At the high point of the day, the Sensex was just 63 points shy from its record high, and the Nifty 22 points; Debutant IKIO ends at 42 per cent premium over issue price

3:59 PM

Comment :: 'We suggest limiting positions amid intermediate choppiness'

The buoyancy in the global markets, especially the US, is helping the index to maintain a bullish tone amid mixed domestic cues. We reiterate our positive view but suggest limiting positions citing intermediate choppiness. Instead of waiting for a new high in the index, we feel participants should maintain their focus on identifying stock-specific trading opportunities.

 

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

3:55 PM

Comment :: What lifted the markets today?

The domestic market rebounded with strong buying in banking, pharma, and consumer stocks, along with positive cues from global markets. The US market's optimism was bolstered by better-than-expected retail sales, reflecting the robustness of the economy. Furthermore, jobless claims remain elevated and a decline in import prices raised hopes for a prolonged pause in interest rate hikes by the Fed, contradicting their announcement of potential future rate hikes made the previous day.

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

3:51 PM

Currency check :: Rupee ends at 81.93/$ against Thursday’s close of 82.18/$

3:49 PM

Market Check :: Top losers on the BSE today

3:48 PM

MARKET CHECK :: Top gainers on the BSE today

3:46 PM

Buzzing stock :: Mazagon Dock Shipbuilders leaps 12% after 8.4% equity changes hands

3:45 PM

Buzzing stock :: Kalyan Jewellers ends over 15% higher after huge block deal

>> Over 6% equity changed hands on the bourses in early hours of trade

3:43 PM

Buzzing stock :: ITC hits record high; m-cap tops Rs 5.5 trillion

>> ITC hit m-cap of Rs 5 trillion in April this year

>> HUL is the only FMCG company with over Rs 6 trillion m-cap

3:41 PM

Buzzing stock :: IKIO Lighting ends 42% higher than issue price

3:39 PM

Broader market party continues; Mid, SmallCap indices scale yet another peak

3:37 PM

Sectoral trends :: IT, Realty indices dip in an otherwise broad-based rally

3:35 PM

Sensex Heatmap :: 25 of 30 index stocks rally; Wipro, TCS, Tech M lag

3:34 PM

CLOSING BELL :: Nifty settles above 18,800

3:32 PM

CLOSING BELL :: Sensex zooms after a day's hiatus, ends less than 200 pts away from record high

3:18 PM

Global Check:: US, UK stock futures hold marginal gains

Source: Investing.com

3:13 PM

SoftBank looking to book profits by selling shares in Zomato, Paytm: Report

Japan-based SoftBank is looking to sell small stakes in Zomato and Paytm's parent One97 Communications as the bets have finally turned profitable for the investment conglomerate amid the rally in new-age stocks, Moneycontrol reported on Friday. READ MORE

3:05 PM

ALERT:: NCLT defers Zee-Sony merger hearing to June 26

NCLT has deffered Zee-Sony merger hearing to June 26, reports CNBC TV18.

3:04 PM

Market Check:: Senesex rallies over 550 pts, less than 100 pts from its summit

The BSE Sensex had recorded an all-time high at 63,583.07.

2:56 PM

Market Check:: Nifty surges over 150 pts, just 20-odd points shy from record high

The NSE Nifty 50 had hit an all-time high at 18,887.60 on December 01, 2022.

2:51 PM

ALERT:: Indo Rama Synthetics arm starts commercial production at Maha plant; stock up 1%

Indorama Ventures Yarns, a Wholly-owned subsidiary company of Indo Rama Synthetics, has successfully started commercial production of its 'Draw Texturising Yarn' w.e.f. June 15, 2023 from its Plant at Maharashtra, the company informed BSE.

2:39 PM

Stock Alert::SML Isuzu up 4%; JBM in advanced stage of talks to buy stake

JBM Auto has started due diligence to acquire controlling stake SML Isuzu, reports CNBC TV18. 

2:31 PM

Adani Total Gas, Zomato, Nykaa and more: Top large caps MFs bought in May

Life Insurance Corporation of India (LIC), Kotak Mahindra Bank, Indian Oil Corporation, Hero MotoCorp, Hindustan Aeronautics were the most sold. READ MORE

2:20 PM

Erring firms convicted, but it's not mission accomplished for regulators

The conviction rate is at its highest in years, shows a Business Standard analysis of ministry of corporate affairs data, amid reports of a rejig in its approach to infractions. Around 5.3 per cent of cases decided upon resulted in convictions in 2018-19. The number increased to 53.6 percent in 2021-22 to touch a 14-year high. READ MORE

2:08 PM

M&M launches XUV700 in Australia at AUD 36,990; no diesel variant on offer

The XUV700 sold in Australia will come with only a turbo-petrol engine, the 2.0-litre mStallion that returns 200 bhp and a peak torque of 380 Nm. READ MORE

2:00 PM

ITC scales to fresh high, m-cap inches towards Rs 6 trillion-mark

ITC outperformed the market for the eight straight months, has rallied 37% thus far in the calendar year 2023, as compared to 3.8 per cent rise in the S&P BSE Sensex. READ MORE

1:49 PM

Equitas SFB gets RBI approval to re-appoint Vasudevan as MD, CEO

The Reserve Bank of India has approved the re-appointment of P N Vasudevan as the managing director (MD) and chief executive officer (CEO) of Equitas Small Finance Bank (SFB) for a three-year term. READ MORE

1:40 PM

ALERT:: Rupee trades firm v/s USD; gains up to 0.3% to quote below 82 per dollar

The Indian Rupee was seen quoting below the 82/$ level after more than a month.

Source: Bloomberg

1:30 PM

Stock Alert:: TCS down over 1% after Transameria nixes $2 bn deal

The 10-year contract, signed in early 2018, involved TCS working with US-based Transameria to enable the digitization of more than 10 million policies into a single integrated platform. READ MORE

1:21 PM

GAIL India issues swap tender for 12 LNG cargoes in 2024, say reports

GAIL (India) Ltd has issued a swap tender seeking 12 cargoes of liquefied natural gas (LNG) for loading in the US in exchange for 12 cargoes for delivery into India in 2024, two industry sources said. READ MORE

1:11 PM

Asian Market Update:: Majority of indices gain around 1%

Source: Yahoo Finance