Stock Market Highlights: Indices stabilise after poll shocker; Mid, SmallCap indices add up to 3%

Stock Market Highlights on June 6: Among sectors, the Nifty Realty climbed 4.7 per cent, the Nifty PSU Bank 2.9 per cent, and the Nifty IT 2.8 per cent

3:56 PM

Tech View :: 'Expect Nifty to consolidate; Bank Nifty has resistance at 49,700'

Nifty
On the daily charts, we can observe that the Nifty has witnessed a sharp recovery in the last couple of trading sessions and now reached the 22,900 level which coincides with the 78.6% Fibonacci retracement level of the fall from 23,340 – 212,80. W

e expect Nifty to consolidate after the sharp runup and considering it has reached a crucial resistance level the probability of a rangebound movement is high.

The range is likely to be 21,800 – 23,000 from a short-term perspective. IN

 

Bank Nifty

The RBI policy event is likely to have a bearing on the bank Nifty tomorrow. Key Support levels are placed at 48,800 – 48,500 while key resistance is at 49,700 – 50,000 zone. We expect the Bank Nifty to consolidate around 49,000 for tomorrow’s trading session.

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

3:41 PM

Currency check :: Rupee slips 10 paise bvs US dollar

3:40 PM

Broader markets :: Mid, SmallCap indices outperform

3:39 PM

Sectoral trends :: Realty index up nearly 5%, IT, Bank 4%

3:38 PM

Sensex Heatmap :: IT stocks lead today's rally, FMCGs cap gains

3:37 PM

Closing Bell :: Nifty holds 22,800 at close

3:36 PM

Closing Bell :: Sensex zooms nearly 700 pts, ends atop 75K

3:30 PM

ALERT :: Dixon Tech enters into Term Sheet with HKC Corporation Limited

>> Dixon Technologies (India) Limited has entered into a Term Sheet with HKC Corporation Limited to form a Joint Venture for manufacturing of Liquid Crystal Modules, thin film transistor liquid crystal display modules, assembly of end products like, smartphones, TVs, monitors and auto displays and selling HKC branded End products in India.

Click here for details

3:23 PM

ALERT :: ITC shareholders approve demerger of hotels biz

3:09 PM

ALERT :: Monsoon to soon reach Mumbai

3:03 PM

ALERT:: Indoco Remedies board okays Rs 2,000 cr fund raise; stock up 3%

Indoco Remedies in an exchange filing on Thursday said the company received a tentative approval from the USFDA, for the company's Abbreviated New Drug Application for Canagliflozin and Metformin Hydrochloride Tablets. 

2:54 PM

Nava, WABAG, NCC, Finolex and 17 other smallcap stocks hit record highs

At 01:32 pm; BSE Smallcap index, the top gainer among broader indices, was up 2.91 per cent, as compared to 0.64 per cent rise in BSE Sensex and 2.2 per cent gain in BSE Midcap index. READ MORE

2:44 PM

ALERT:: Zee board okays Rs 2,000 cr fund raise; stock up 4%

Zee Entertainment board today gave its in-principle approval for raising funds by way of issuance of equity shares and/or any other eligible securities in one or more tranches for an aggregate amount not exceeding Rs 2,000 crore. 

 

2:35 PM

ALERT:: Taiwan rallies 2% in Asian trade

2:29 PM

Restaurant Brands Asia rallies 8% on heavy volumes; stock down 9% YTD

At 12:23 PM, one million shares changed hands on the BSE at a price of Rs 107 per share. Till 1:30 PM, a total of 5.87 million shares had, together, changed hands on the NSE and BSE. READ MORE

2:21 PM

Investor trends: World's ultra-rich are shifting money to low-risk bonds

Rich families are putting more money into safe investments like bonds because they expect interest rates to keep going up, making bonds a better way to earn money with less risk. READ MORE

2:11 PM

ALERT: Abbott India announces resignation of director; stock down 1.5%

Abbott India in an exchange filing today said Sandeep Reddy, Commercial Director - Women’s Health, Metabolics and International Business of the Company, has resigned with effect from June 5, 2024.

2:02 PM

Orchid Pharma shares rally 6% on DCGI nod for antibiotic drug combination

Orchid Pharma has received DCGI's approval for the manufacturing and marketing its invented, made-in-India Active Pharmaceutical Ingredient (API), Enmetazobactam. READ MORE

1:51 PM

Foreign investors now have more time to report changes to regulator Sebi

Sebi has made things a little easier for foreign investors who invest in Indian stock markets. These investors, known as Foreign Portfolio Investors (FPIs), now have more time to report certain changes in their information to Sebi. READ MORE

1:39 PM

KNR Constructions stock soars 19% on healthy outlook; zooms 35% in 2 days

With a strong bidding pipeline and better bidding strategy, the management expects total order inflow of Rs 5,000-6,000 cr in FY25 which shall keep its order book healthy moving ahead. READ MORE

1:28 PM

ALERT:: Bank Nifty slips into red for the first time in the trading day

1:19 PM

RBI may keep interest rates on hold as slim Modi win boosts fiscal risks

Economists had already been pushing their forecasts for rate cuts to later in the year, predicting the RBI won't move until the US Federal Reserve pivots. READ MORE

1:08 PM

Nazara Tech arm to acquire US-based Soap Central; stock soars 19% in 2 days

Absolute Sports, the parent company of Sportskeeda.com and ProFootballNetwork.com, has signed an asset purchase agreement to acquire all assets of SoapCentral.com for $1.4 million. READ MORE

12:57 PM

Kalpataru Projects Board to meet on June 10 to mull fund raise; stock up 6%

The surge came after the company announced that its board will meet on June 10 to approve raising of funds by way of issuance of Non Convertible Debentures (NCDs) on private placement basis. READ MORE

12:47 PM

Govt bonds still a 'buy' for foreign investors despite PM Modi's narrow win

Foreign investors have piled on bonds this year and remained on the buying side on Tuesday, despite the unexpected election outcome hitting stocks. READ MORE

12:39 PM

This state-owned defence stock has dropped 20% in two days; check details

The state-owned defence company Bharat Dynamics Limited (BDL) shares plummeted 10 per cent, triggering the lower circuit as the stock hit an intraday low of Rs 1,293.35, on Thursday. READ MORE

12:29 PM

Indian Energy Exchange shares gain 6% on recording highest volumes in May

The electricity volumes at 9,568 MU, increased 21 per cent Y-o-Y and the renewable energy certificates (REC) at 1,055 MU, increased 640.3 per cent Y-o-Y, Indian Energy Exchange said. READ MORE

12:20 PM

Market check:: Sensex off day's high, up 350 pts now

12:08 PM

KPI Energy soars 5% on procuring 20 orders for solar power projects

KPI Green Energy, a member of the KP Group, specialises in the development, construction, ownership, management, and maintenance of renewable power facilities, including solar and wind solar hybrid power projects.  READ MORE

11:54 AM

Century Textiles arm forms JV with Barmalt India; share price zooms 13%

On Wednesday, Birla Estates Private Ltd, the real estate venture of Aditya Birla Group, and a 100 per cent wholly-owned subsidiary of Century Textiles and Industries, entered into a JV with Barmalt India Pvt Ltd for a luxury residential project in Gurugram. READ MORE