Broader market underperformed benchmark indices. The S&P BSE Midcap index rose 0.66 percent, while the S&P BSE Smallcap index gained 0.32 percent
After volatile trade on June 24, we witnessed a rally on June 25 as Nifty closed above 11,700. However, it failed to surpass 11,800. Sensex closed with gains of more than 300 points.
The final tally on D-Street – Sensex rose 311 points to 39,434 while Nifty closed 96 points higher at 11,796.
In terms of sectors, the S&P BSE Energy index rose over 2 percent, followed by the S&P BSE Metal index that was up 1.8 percent, and the S&P BSE Oil & Gas index that closed with gains of 1.6 percent.
Broader market underperformed benchmark indices. The S&P BSE Midcap index rose 0.66 percent, while the S&P BSE Smallcap index gained 0.32 percent.
The market is likely to remain volatile ahead of the F&O expiry on June 27, as well as Budget on July 5, suggest experts. In terms of global cues, G20 summit, likely to be held on June 28-29 will be closely watched by experts to track the progress of US-China trade talks.
“Going forward, we maintain our cautious stance on the Indian markets. The near-term movement is likely to be driven by monsoon's progress and global developments,” Jayant Manglik, President - Retail Distribution, Religare Broking Ltd told Moneycontrol.
“The G20 summit, to be held on June 28-29, will be closely monitored as it is likely to focus on efforts to settle the international crisis and give some indication on progress on US-China trade talks. Further, the crude oil price and currency movement will also be on the market radar,” he said.
Stocks in news:
The share price of IFCI rose 17 percent after the company approved the sale of the company's remaining stake of 2.44 percent of the total equity shares of NSE.
SBI Life Insurance Company shares fell 5 percent after its foreign partner BNP Paribas Cardif said it will sell up to 2.5 percent stake in the company.
L&T Technology Services shares fell 2 percent as the parent firm said it is selling its stake in the company to meet minimum public shareholding norms.
Natco Pharma shares slipped 2 percent after detailed observations by the US health regulator for Kothur plant was released.
Shares of Piramal Enterprises shed 3 percent after the company said that it was evaluating the feasibility of sale of its entire (effective 20 percent) stake in Shriram Capital.
European markets are trading lower on June 25 ahead of a meeting of US President Trump and Chinese President Xi Jinping at G-20 summit this week in Japan.Asian markets ended lower as investors kept an eye on a meeting between Donald Trump and Xi Jinping. Shanghai Composite fell 0.87 percent at 2,982.07, Hang Seng shed 1.21 percent and Nikkei fell to 21,193.81.
Time to show-off your poker skills and win Rs.25 lakhs with no investment. Register Now!