Sensex dips for 2nd day, falls 223pts; Nifty gives up 18,600; IEX tanks 10%

CLOSING BELL, JUNE 9, 2023: Tata Steel, HUL, State Bank of India (SBI), Infosys, HCL Tech, Asian Paints, ITC, TCS, and RIL were the top laggards

4:09 PM

COMMENT:: Inflation numbers in focus ahead of US Fed meet

"The domestic market witnessed extended selling pressure as investors eagerly awaited the domestic inflation data due on Monday as the RBI refrained from an aggressive cut in their inflation forecast. The market is hopeful that the CPI inflation for May will further moderate from its current level of 4.7%. In addition to the domestic factors, global cues also failed to provide support, as the US reported high unemployment claims ahead of the release of the inflation figures and the Fed meeting."

 

- Vinod Nair, Head of Research at Geojit Financial Services
 

4:08 PM

VIEW:: 44,500 and 43,700 are the key levels to watch out for the Bank Nifty

"The Bank Nifty index is currently experiencing selling pressure as the bears maintain their control at higher levels. The resistance zone between 44,300 and 44,500 has proven to be strong, preventing the index from making significant upward moves. On the downside, there is a support level at 43,700, which has the potential to act as a buying opportunity. If the index manages to hold above this support level, it could attract buyers who see it as a favorable entry point.It is important to monitor the price action around these key levels, as a break above the resistance zone or a breach below the support level could indicate a potential change in the market sentiment and trigger further directional moves."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities

 

4:06 PM

Zomato hits fresh 52-week high; surpasses its IPO price after a year

Shares of Zomato hit a fresh 52-week high of Rs 77.95 in Friday’s trade. The stock price of the food delivery platform company rose above their initial public offering price of Rs 76 per share on Thursday after more than a year. Zomato made its stock market debut on July 23, 2021. READ MORE

4:04 PM

Greenlam soars 18% as plywood facility begins operations in Tamil Nadu

The said facility has the potential to generate revenue of Rs 400 crore per annum on full capacity utilization. The total capex incurred for the project stands at Rs 130 crore. READ MORE

4:03 PM

HAL hits new high on stock split plan; zooms over 700% from March 2020 lows

The board of directors of state-owned defence company will meet on June 27 to consider a proposal of stock split of the equity shares of the company having a face value of Rs 10 each. READ MORE

4:01 PM

Bank of Maharashtra slips 7% as new shares allotted to QIBs get listed

The board of Bank of Maharashtra on Tuesday, June 6, 2023 allotted 350.88 million equity shares of Rs 10 each allotted to QIBs pursuant to QIP. READ MORE

4:00 PM

IEX plunges 10%, hits 52-week low amid market coupling worries

According to media reports the Power Ministry has directed the Central Electricity Regulatory Commission (CERC) to implement the process of market coupling in a timely manner. READ MORE

3:58 PM

Macrotech Developers hits 52-week high; surges 3% on healthy outlook

Macrotech Developers' operating performance is expected to remain healthy in FY24, supported by healthy enduser demand, a strong launch pipeline and healthy affordability, while maintaining a reducing debt trajectory. READ MORE

3:56 PM

Titagarh Wagons rallies 7%; board to meet Saturday to consider fund raising

A meeting of the board of directors of the company is scheduled on Saturday, June 10, 2023 to consider a proposal to raise funds. READ MORE

3:55 PM

Nifty FMCG index also slip 1%; Godrej Consumers, Marico, Emami top drags

3:52 PM

Nifty PSU Bank index falls over 1%; Bank of Maharashtra cracks 6%

3:48 PM

BSE Smallcap Heatmap:: Heubach Colorants hits 20% upper limit; EKI Energy tumbles 15%

3:46 PM

BSE Midcap Heatmap:: HAL, Tata Communications soar up to 6%; Voltas drops 3%

3:44 PM

Market Breadth was almost neutral; 1,743 stocks advanced v/s 1,789 declining shares on the BSE

3:42 PM

Midcap, Smallcap indices wipe out gains in late deals, finish marginally in red

3:41 PM

Nifty 50 Losers:: Hero MotoCorp, Divis Lab, HDFC Life, Eicher Motors shed 2%

3:40 PM

Nifty 50 Gainers:: IndusInd Bank, Axis Bank, PowerGrid, Adani Enterprises gain up to 2%

3:38 PM

Sensex 30 Heatmap:: 11 Gainers v/s 19 Losers

3:36 PM

CLOSING BELL:: NSE Nifty 50 ends 71 points lower at 18,563

3:34 PM

CLOSING BELL:: Back-to-back losses for Sensex; BSE benchmark slips 223 pts to 62,626.

Index, however, ends with a gain of 79 points for the week.

3:25 PM

Global Check:: US, UK stock futures decline up to 0.3%

Source: Investing.com

3:19 PM

SBI to raise up to Rs 50,000 crore in FY24 by issuing debt instruments

State Bank of India, the country's largest lender, said on Friday it plans to raise up to 500 billion rupees ($6.06 billion) this financial year by issuing debt instruments, as lenders look to meet rising demand for credit. READ MORE

3:15 PM

ALERT :: Concor erases gains amid reports of 'status quo' on its divestment

>> According to a report, the divestment of Concor isn't moving ahead and is at status quo due to concerns raised by its parent organisation.

3:08 PM

ALERT:: Maruti Suzuki launches the all-new Tour H1; stock marginally down

Maruti Suzuki India Limited today announced the launch of the all-new Tour H1 – an entry level commercial hatchback. 

 

With the latest generation of Alto K10, the All-New Tour H1 offers fresh new exteriors, spacious interiors, enhanced comfort, convenience and safety features.

It comes equipped with a more powerful and efficient Next-Gen K-series 1.0L Dual Jet, Dual VVT engine offering impressive performance and enhanced fuel-efficiency, the company said in a release.

 

The base price at ex-showroom level is Rs 4.80 lakh, the release added.

2:56 PM

ALERT:: Srikrishnan Hari Hara Sarma takes charge at Karnataka Bank; stock flat

The bank informed BSE, that Additional Director Srikrishnan Hari Hara Sarma has taken charge as the Managing Director & CEO of the Bank with effect from today, June 09, 2023.

2:43 PM

SpiceJet to add 10 narrow-body Boeing aircraft, including five B737 Max

SpiceJet, which is trying to keep afloat amid several aircraft of its fleet being grounded over payment issues, said it plans to add 10 narrow-body Boeing aircraft, including five B737 Max. READ MORE

2:32 PM

ALERT:: Maan Aluminium board okays 1:2 share split; stock up 2%

The board of directors of Maan Aluminium approved split/Sub-division of the equity  share of the company having face value of Rs 10 each into 2 equity shares of the company having face value of Rs 5 each. The board also approved bonus issue in the ratio of 1:1.

2:21 PM

RBI needs monsoon to deliver before weighing rate cuts in next MPC meet

The weather announcement on Thursday provided some relief to the rate-setters and millions of farmers across India, but the concerns are not quite over. READ MORE

2:18 PM

ALERT :: SBI approves fund raise via debt instruments worth Rs 50,000 crore

>> The Central Board of the Bank has accorded approval for raising funds in rupee and / or any other convertible currency by issue of debt instruments

>> This would be up to an amount of Rs 50,000 crores through private placement mode during FY24.

2:10 PM

Greenlam soars 15% as plywood facility begins operations in Tamil Nadu

The said facility has the potential to generate revenue of Rs 400 crore per annum on full capacity utilization. The total capex incurred for the project stands at Rs 130 crore. READ MORE