Stock Market Highlights, June 14: Sensex, Nifty rises for 3rd day; Auto, realty stocks shine

Stock Market Highlights on June 14: The BSE Sensex gained 182 points, or 0.24 per cent, to end at 76,993 levels, while the Nifty50 shut shop 67 points, or 0.29 per cent, higher at 23,466

3:49 PM

Tech View :: 'Next leg of rally likely to unfold in Nifty; Bank Nifty has stiff resistance'

Nifty50
On the daily charts, we can observe that the Nifty has been consolidating in the broad range of 23,200 – 23,500. The more it consolidates around this level, the more likelihood of a breakout in the coming week.

It has already been five days and we believe that a trending move is likely to unfold. The hourly momentum indicator has triggered a positive crossover from the equilibrium line suggesting that the consolidation has matured and can resume next leg of upmove.

 

Bank Nifty

Bank Nifty is facing stiff resistance at the 78.6% Fibonacci retracement level (50,050) and has been unable to sustain above it. The consolidation is now five trading sessions old and can resume its upmove during the upcoming week. Incase of dips towards 49,500 - 49,400 should be used as a buying interest for the target of 50,500 – 50,600.

Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

3:44 PM

Currency check :: Rupee ends at 83.56/$ against Thursday’s close of 83.54/$

3:43 PM

Broader markets :: Mid, SmallCap indices end over 1% higher each after hitting record peaks

3:41 PM

Sensex Heatmap :: Gainers and Losers tie on index

3:40 PM

Closing Bell :: Nifty ends above 23,450

3:38 PM

Closing Bell :: Sensex ends nearly 200 pts higher

3:26 PM

Market Check :: Top Sensex contributors at this hour

3:18 PM

Vodafone Group looks to sell entire $2.3 billion stake in Indus Towers

The final size of the stake sale is yet to be decided and could be lower than 21.5% if demand, which is still being assessed, is insufficient, the sources said. They declined to be named as the discussions are private. READ MORE

3:02 PM

EIH Associated Hotels greenlights bonus share issue; Stock surges 9%

Shares of EIH Associated Hotels, the flagship company of the Oberoi Group soared up to 9.4 per cent at Rs 925 per share on the BSE in Friday’s intraday trade. READ MORE

2:53 PM

GMR Airports hits 52-week high; up 34% from June 4 low on healthy outlook

In the upside scenario, Jefferies expects Airport traffic to growth at CAGR of 15% over FY24-FY27e and higher increase in Aero tariffs and expect EBITDA to grow by 40% CAGR over FY24-FY27e. READ MORE

2:46 PM

Zydus gets tentative nod from USFDA for blood pressure lowering drug

Zydus Lifesciences on Friday said it has received tentative approval from the US health regulator to market Azilsartan Medoxomil and Chlorthalidone tablets, which are indicated for the treatment of high blood pressure. READ MORE

2:36 PM

Nalco executes mining lease deed with Odisha government; stock gains 4.5%

The mines have an annual production capacity of 3.5 million tonnes and have reserves estimated at 111 million tonnes. READ MORE

2:25 PM

RITES gains 6% on signing MoU with Delhi Metro; share soars 79% in 1 yr

RITES Ltd has signed a MoU with DMRC for collaboration in comprehensive operations and management projects of Metro Railway Systems in India and abroad. READ MORE

2:14 PM

IPO ALERT: Bajaj Housing Finance files DRHP; Hyundai next in queue

Bajaj Housing Finance, subsidairy of Bajaj Finance, has filed DRHP for Rs 7,000 cr IPO

 

Hyundai expected to file IPO papers today

2:05 PM

DCX Systems share price jumps 9% on bagging multiple orders; check details

Shares of  DCX Systems rose up to 8.75 per cent at Rs 348.80 per share on the BSE in Friday’s intraday deals. The stock is trading close to its 52-week high of Rs 392.90, hit on January 11, 2024. On the other hand, the stock had hit a 52-week low of Rs 233.35 per share on June 15, 2023. READ MORE

1:54 PM

LIC rallies 6% on heavy volumes; stock inches towards record high

The stock hit an intra-day high of Rs 1,062.60 on Friday, and has bounced back 21 per cent from last week's low of Rs 880.70 touched on June 4. READ MORE

1:46 PM

ALERT:: Captain Technocast board okays increase in authorised share capital; stock dips 4%

Captain Technocast in an exchange filing today said the company's board has approved increase in authorized share capital from existing Rs 11 crore divided into 1.10 crore equity shares to Rs 13 crore divided into 1.30 crore equity shares.

 

Further the company's board approved issue of 1.40 crore warrants on preferential basis to the non-promoter group.

1:35 PM

Oil prices set for best week in over 2 months on positive demand outlook

The Organization of Petroleum Exporting Countries (OPEC) stuck to a forecast for relatively strong growth in global oil demand for 2024 and Goldman Sachs projected solid US fuel demand this summer. READ MORE

1:24 PM

MF reclassification ahead: Hero Moto, SBI Card in focus; key levels here

As per reports seven stocks are likely to witness a switch from largecap to midcap classification and vice versa; here's what the chart suggest for select five stocks. READ MORE

1:14 PM

Penna acquisition could be 1st among many M&As for Ambuja Cements: Analysts

We believe that further acquisitions are indeed possible considering Ambuja Cement's strong balance sheet, said analysts. READ MORE

1:02 PM

Defense stocks rally up to 18% as Union Minister sets 5 yr export target

Shares of defence companies soared up 17.6 percent on the BSE in Friday’s intraday deals on Friday. This came after the Defence Minister Rajnath Singh announced on Thursday that India aims to elevate its defence exports to surpass Rs 50,000 crore within the next five years.  READ MORE

12:51 PM

Cars could get costlier as automobile emission norms set to tighten

Under the third phase of the corporate average fuel efficiency standards, automakers must reduce carbon emissions by one-third in three years. READ MORE

12:39 PM

Siemens extends rally on solid outlook; stock zooms 91% thus far in CY 2024

Shares of Siemens hit a new record high of Rs 7,674.95, gaining nearly 4 per cent on the BSE in Friday's intraday trade, extending its past three days' rally, on a solid outlook. In the past four trading days, the stock of the capital goods company has surged 12 per cent. READ MORE

12:24 PM

ALERT :: Broader indices at record high in intraday trade

>> BSE MidCap hits record high of 45,925.51

>> BSE SmallCap hits new peak of 51,223.39

12:15 PM

ALERT :: India's wholesale inflation rises to 2.61% in May

Last month, India’s WPI-based inflation surged to a 13-month high, reaching 1.26 per cent year-on-year. This was a significant jump from the 0.53 per cent rise recorded in March 2024. This marked the sixth consecutive month of rising wholesale prices and the fastest pace since March 2023. The primary drivers were an uptick in food and primary articles alongside a rebound in fuel prices, offsetting softer declines in manufacturing prices. READ MORE

12:14 PM

L&T Finance extend gains as Morgan Stanley buys stake; up 8% in two days

L&T acquired 1.25 crore shares of L&T Finance for Rs 213 crore. Following this acquisition, L&T's ownership in the company will increase by 0.50 per cent to 66.4 per cent. READ MORE

12:01 PM

Stock of this wellness company has zoomed 69% from 52-wk low in 3 days

At 10:17 AM, Kaya was trading 13 per cent higher at Rs 441.80, as compared to 0.07 per cent rise in the BSE Sensex. The average trading volumes on the counter more than doubled, with a combined 2.8 million equity shares changing hands on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). READ MORE

11:44 AM

Puravankara hits 52-week high as board approves fund raise of Rs 1000 cr

"The Board has given its in‐principle approval to proceed to raise funds through QIP mode up to an amount not exceeding Rs. 1000 Crores in one or more tranches. The Instruments to be issued under QIP may be equity shares /debentures (NCD/PCD/FCD)/preference shares as per the  terms  of  issue,  once  finalised  and  approved  by  the  Board," the company said in an exchange filing. READ MORE

11:31 AM

ALERT :: Nykaa aims at Ebitda margin expansion of 2,000bps in FY26 vs FY24

Source: Investor presentation

11:16 AM

Nestle, VBL, Godrej Cons: Nuvama picks these FMCG stocks on robust outlook

Weather in favour

The onset of La Niña is expected to boost rural FMCG demand, with normal to above-normal rainfall predicted by IMD. This could positively impact rural incomes and sentiment, potentially benefiting companies operating in these areas. READ MORE