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June 03, 2021 / 04:31 PM IST

Closing Bell: Sensex, Nifty end at record closing high; Midcap index also surges to all-time high

Stock Market LIVE Updates: Buying was seen in the metal, FMCG, energy and banking names, while pharma stocks remained under pressure.

  • IndexPricesChangeChange%
    Sensex62,410.68-215.68 -0.34%
    Nifty 5018,560.50-82.25 -0.44%
    Nifty Bank43,098.70-39.85 -0.09%
    Nifty 50 18,560.50 -82.25 (-0.44%)
    Wed, Dec 07, 2022
    Biggest GainerPricesChangeChange%
    Asian Paints3,226.5064.80 +2.05%
    Biggest LoserPricesChangeChange%
    NTPC171.85-3.35 -1.91%
    Best SectorPricesChangeChange%
    Nifty FMCG45724.60436.80 +0.96%
    Worst SectorPricesChangeChange%
    Nifty Energy26714.50-306.50 -1.13%

  • June 03, 2021 / 04:31 PM IST

    Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments:

    The Nifty has closed closer to 15700 and should now be headed to 15900-16000 as the next potential target. There are multiple levels which are supporting the index during intra-day falls. Today when the index slipped a little, it took good support around 15600 and bounced from there. 15500, 15400 and 15300 are the other levels of support, the most crucial being 15300. 

    As long as the markets can hold on to that level, the overall trend remains bullish and traders can accumulate long positions around these support zones.

  • June 03, 2021 / 04:12 PM IST

    Rohit Singre, Senior Technical Analyst at LKP Securities. 

    One more positive breakout witnessed in the index as it managed to close a day on fresh highs at 15690 zone with gains of nearly one percent. Again Nifty has shifted its support to 15650-15600 zone & managing above said levels we may see northward move to continue towards next hurdle zone of 15800, also one can use every dip as buying opportunity around said levels. 

    On the immediate basis 15450 will be trend changing level on the downside and below that only we may see more profit booking in index.

  • June 03, 2021 / 03:49 PM IST

    Rupee ends at day's high at 72.91 per dollar:

    Indian rupee erased the intraday losses and ended at day's high at 72.91 per dollar, amid buying seen in the domestic equity market.

    It opened 8 paise lower at 73.16 per dollar against previous close of 73.08 and traded in the range of 72.90-73.18.

  • June 03, 2021 / 03:46 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    Domestic markets witnessed a range bound rally with strong buying interest seen in realty and consumer durables with small and midcap stocks outperforming. The global market was cautious with the US and European markets trading in red ahead of the release of key economic US data. In the wake of increasing inflationary pressure, the domestic market is awaiting tomorrow’s RBI MPC announcement which is expected to maintain its accommodative stance.

  • June 03, 2021 / 03:42 PM IST

    S Ranganathan, Head of Research at LKP securities:

    Markets remained firmly in the grip of bulls ahead of the RBI Policy as expectations of vaccinations being ramped up coupled with capex programs is likely to improve credit growth. Even as the street is expecting the RBI to continue with its accommodative stance while keeping a watchful eye on inflation led by rising commodity prices, we saw heightened activity in big names involved in building infrastructure and in select high quality midcaps.

  • June 03, 2021 / 03:39 PM IST

    Ashis Biswas, Head of Technical Research at CapitalVia Global Research:

    The market witnessed some lackluster movement and an attempt to hold the support level of 15,650. 15,700-15,720 will act as a resistance zone and a small correction is seen in the market till the level of 15,500. The momentum indicators like RSI, MACD to lose their momentum after staying positive in recent time, indicating the chance of a small correction in the market.

  • June 03, 2021 / 03:37 PM IST

    Market Close: Benchmark indices ended at record closing high on June 3 amid buying seen in the infra, oil & gas, metal and realty names.

    At close, the Sensex was up 382.95 points or 0.74% at 52232.43, and the Nifty was up 114.20 points or 0.73% at 15690.40. About 2136 shares have advanced, 973 shares declined, and 134 shares are unchanged.

    Titan Company, ONGC, Eicher Motors, Larsen and Toubro and Axis Bank were among major gainers on the Nifty, while losers included IndusInd Bank, Wipro, Dr Reddy's Lab, Cipla and Bajaj Auto.

    Buying was seen in the infra, metal, FMCG, energy and banking names, while pharma stocks remained under pressure. BSE Midcap also touched a record high with a percent gain and Smallcap index also added 1 percent.

  • June 03, 2021 / 03:26 PM IST

    CRISIL rating to CSB Bank:

    CRISIL has assigned ‘CRISIL A /Stable’ rating to the proposed Rs 500 crore Tier II, Basel III compliant bonds issue Programme of CSB Bank.

    CSB Bank was quoting at Rs 327.00, up Rs 6.65, or 2.08 percent on the BSE.

  • June 03, 2021 / 03:18 PM IST

    BSE Capital Goods index rose 1 percent led by the Thermax, L&T, Siemens

     BSE Capital Goods index rose 1 percent led by the Thermax, L&T, Siemens
  • June 03, 2021 / 03:14 PM IST

    Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research:

    Acuite believes that the current focus of the MPC is to support the fragile economy and the financial system from the damage inflicted by the second wave of Covid and to bring it back again on a healthy recovery path over the next few quarters. The latest GDP data released by NSO reinforces the economic revival that was set in motion in Q3 and Q4 of FY21 with the flattening of the first Covid wave; the pickup in industrial activity had led to a 6.9% YoY growth in manufacturing GVA of Q4FY21. 

    Clearly, there is a need to pursue a similar monetary and fiscal policy framework over the next 2-3 quarters as we witness the tapering of the second Covid wave. Therefore, we expect the policy stance to remain unequivocally accommodative throughout the current financial year. 

    While there is virtually no scope for a further cut in interest rates given the increased commodity prices and the rising WPI, the status quo on rates is likely to continue for a longer time possibly till the end of FY22. Despite the risks of a build up of inflationary pressures in the near term, RBI is likely to give higher priority to the concerns around growth recovery.