Stock Market Highlights, June 20: Mid, SmallCap indices outshine benchmarks; metal, pvt banks gain

Stock market Highlights on Thursday, June 20, 2024: Among sectors, the Nifty Metal index edged 1,8 per cent higher, the Nifty Realty 2 per cent, and the Nifty Private Bank 1.16 per cent

3:59 PM

Tech View :: 'Nifty undertone to stay bullish as long as it holds 23,400'

The market consolidated within a range, with the index stuck between 23,400 and 23,650. The undertone remains bullish as long as the index sustains above the 23,400 support, where aggressive put writing is visible. Surpassing the 23,650 mark will open further room towards the 23,800/24,000 levels

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

3:58 PM

Tech View :: 'Break below 51,000 will dampen sentiment in Nifty Bank'

The Bank Nifty Index continued its strong momentum and managed to hold the support at 51,200-51,000. The bullish momentum is likely to continue, and dips should be utilized to buy the index targeting 52,200/52,600. The lower-end support is placed at 51,000, where the highest open interest is built up on the put side. A break below this level will only dampen the bullish sentiment.

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

3:57 PM

Comment :: 'Budget, FII flows to sway markets in near-term'

Despite experiencing significant volatility, the domestic market concluded the day positively.

In the near term, market attention is expected to centre around the upcoming Union budget and the progress of the monsoon.

On the global front, the decline in US bond yields has facilitated robust FII inflows in recent days. The fertilizer stocks exhibited good momentum, driven by the proposed removal of GST & hike in MSP.

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

3:41 PM

Currency check :: Rupee ends 20 paise lower vs USD

3:40 PM

Broader markets :: SmallCap index up 1%, MidCap half a per cent

3:39 PM

Sectoral trends :: Realty, Metal stocks shine, Pvt banks close behind

3:38 PM

Sensex Heatmap :: Steel stocks, RIL lend support to 30-stock index

3:37 PM

Closing Bell :: Nifty stays above 23,550

3:36 PM

Closing Bell :: Sensex ends 141 pts higher after choppy day

3:28 PM

Profitable growth and valuations to support CV major Ashok Leyland

While steady March quarter results, the company’s focus on profitable growth, medium-term prospects, and valuations are positive, some brokerages are cautious given near-term demand concerns and the risk of increased competitive intensity. READ MORE

3:17 PM

Jupiter Wagons 6% off lows on Lithium-Ion Phosphate battery breakthrough

The rise in share price came after Jupiter Electric Mobility Private Limited, a subsidiary of Jupiter Wagons, in partnership with Log9 Materials, announced that it has achieved a major milestone in the development and certification of their Lithium-Ion Phosphate (LFP) battery technology. This advancement is set to enhance the efficiency and sustainability of rail transport in India. READ MORE

3:03 PM

Goa Carbon shares zoom 11% on launching product for carbon additive markets

Shares of Goa Carbon rallied 11.2 per cent at Rs 873 per share on the NSE in Thursday intraday deals. The stock price jumped after the company announced the launch of its first branded product, ‘gcarb plus’. READ MORE

2:55 PM

Fertiliser shares extends rally; RCF, NFL, FACT, Deepak zoom up to 20%

Ind-Ra opines the credit profile of fertiliser players will remain comfortable in FY25, driven by the government of India's continued policy-level support to the 

industry. READ MORE

 

2:47 PM

ALERT:: Crisil reaffirms credit rating on Shree Cement; stock up 1%

Shree Cement in an exchange filing today said Crisil has reaffirmed its credit rating on commerical paper worth Rs 500 crore aat 'CRISIL A1+'.

2:39 PM

Profitable growth and valuations to support CV major Ashok Leyland

In the March quarter, the company improved its realisations by 2 per cent on a sequential basis on the back of lower discounts and a better mix. READ MORE

2:29 PM

ixigo IPO may put spotlight on Easy Trip, Yatra; Are they worth your money?

Shares of ixigo-parent Le Travenues, an online ticket booking platform and travel agency, turned heads with a sharp run-up since their listing. The online travel agency (OTA) Le Travenues soared 78 per cent on the stock market debut day (June 18), surging 99 per cent in two days over its issue price. READ MORE

2:19 PM

Why does the rise of Nvidia and AI remind people of the dot-com boom?

Chipmaker Nvidia surpassed Microsoft to become the world's most valuable company amid the AI boom. Are there parallels with the dot-com boom and bust? READ MORE

2:11 PM

Tata Comm secures $250 mn loan from ANZ, EDC, DBS Bank; stock jumps 3%

On Thursday, shares of Tata Communications surged by 2.62 per cent at Rs 1,879.90 a piece intraday on the BSE. This came after the company secured a five-year $250 million sustainability-linked loan (SLL) from ANZ, DBS Bank and Export Development Canada (EDC). READ MORE

1:59 PM

Growth is important, but not at cost of unacceptable risks: RBI governor

Banks and non-banking finance companies (NBFCs) should not take “unacceptable risks” in the pursuit of growth and they must have robust risk mitigation frameworks, said Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday. READ MORE

 

1:51 PM

Vedanta jumps 7% after board approves Rs 1,000-cr fund raise via NCDs

The rise in stock came after the board approved fundraising worth Rs 1,000 crore via non-convertible debentures (NCDs) on a private pavement basis. READ MORE

1:36 PM

ALERT:: RCF zooms nearly 20% on heavy volume

1:30 PM

ALERT :: Sebi clears Ola Electric 's Rs 5,500-crore IPO

1:26 PM

Vodafone Idea stock falls 2.5% on weak April telecom data, profit booking

On June 19, Vodafone sold 18 per cent stake in Indus Towers for Rs 15,300 crore to repay debts. Post stake sale, Vi's holding in Indus Towers stood at 3.1 per cent. READ MORE

1:14 PM

ALERT :: Update on GST council meeting

12:56 PM

MapmyIndia freezes at 20%, hits record high on heavy volumes

Average trading volumes on the counter jumped multi-fold with a combined 3.64 million shares, representing 6.72 per cent of total equity of MapmyIndia, changing hands on the NSE and BSE. READ MORE

12:45 PM

ALERT :: Tata Communications secures 5-year $250 million sustainability-linked loan

>> The transaction is the first SLL for Tata Communications under the company’s new SLL framework.

>> Through the framework, a first of its kind in the sector in India, Tata Communications intends to link its funding with key objectives such as carbon emission reduction targets (nonfinancial covenants) that are core and material for the company’s long-term sustainability performance. 
 

12:31 PM

ALERT :: Goa Carbon launches its first branded product 'gcarb+'

>> The product comes with guaranteed specifications, including low sulphur content, significantly reducing harmful emissions and supporting environmental sustainability. “gcarb+” is a highperformance carbon raiser/additive, meeting the specific requirements of the primary and secondary steel manufacturers and foundry industries. 

12:16 PM

5 private bank stocks for your portfolio; Check trading strategy here

Shares of private banks are on investor’s radar following the aggressive buying seen in trades on Wednesday. The Bank Nifty hit a record high of 51,957 led by strong gains in heavyweights HDFC Bank, ICICI Bank among others yesterday. READ MORE

11:59 AM

USFDA issues warning letter to Sun Pharma's Dadra unit; stock slips 2%

Sun Pharma stock falls:Shares of India’s largest domestic drug maker Sun Pharmaceuticals slipped as much as 1.90 per cent to hit an intraday low of Rs 1,475.55 per share on Thursday. 

The fall came after the company announced that it has received a warning letter from United States Food and Drug Administration (USFDA) for current Good Manufacturing Practice (cGMP) violations at its Dadra facility. Read more

11:49 AM

Tanfac Industries shares rally 13% on pact with Japanese chemical firm

On Thursday, shares of Tanfac Industries, an Indian speciality fluoride chemical manufacturer soared by 13.1 per cent at Rs 2,399 a piece intraday on the BSE. This came after the company signed an agreement with a Japanese specialty chemical firm. 

The company revealed in an exchange filing that a leading Japanese specialty chemical company will supply refrigerant gas to it over the next 5 years. This the company said, could generate revenues worth Rs 675 crore, with the supply of the product scheduled to start from the second half of fiscal year 2025-26. Read more