Gold stuck up in a tight range of $1771-$1796: Abhishek Bansal
NLC India Q4 consolidated net profit up 54.6% at Rs 753 crore
ISGEC Heavy Engineering Q4 net profit at Rs 63.4 crore
Escorts to increase prices of tractors effective July 1, 2021
Goldman Sachs maintains buy on Adani Port, target at Rs 790
RITES bags orders worth Rs 749.67 crore
USFDA complete audit at Granules India's facility at USA
Commercial Bank of Kuwait selects TCS BaNCS
Goldiam International receives export orders
USDINR pair should move towards 74.6 levels in coming days: ICICI Direct
Nifty Pharma index up 1 percent led by the Cadila Healthcare, Divis Lab, Torrent Pharma
Strides announces successful completion of EU GMP inspection at Puducherry facility
Cabinet Secretary-headed Panel clears names for bank privatisation
Dr. Reddy s Laboratories announces commercial launch of 2DG
Power Mech Projects shares hit 52-week high on order win worth Rs 9,294.14 crore
BSE Metal index up 1 percent supported by the NALCO, Jindal Steel, NMDC
Vaishali Pharma receives multiple orders from various countries
KIMS Hospitals shares open at Rs 1,009, a 22% premium to IPO price
Dodla Dairy share price debuts at Rs 550, a 28.50% premium to issue price
Indices trade flat, midcap and smallcaps in the green
Arihant Capital assigns accumulate rating on Ashok Leyland, target of Rs 144
Nifty PSU Bank index up 1 percent led by the Bank of Baroda, Canara Bank, Indian Bank
Gold imports jump multi-fold to $6.91 billion in April-May on low base effect
Indraprastha Gas share price rose nearly 4% post Q4 earnings
FPIs turn net buyers in June; invest Rs 12,714 crore in Indian markets
PharmEasy acquires 66.1% stake in Thyrocare Technologies
Indian markets are likely to open largely flat tracking mixed global cues: ICICI Direct
These BSE listed companies to announce results today
Dodla Dairy, KIMS Hospitals begin trading on June 28
Dollar off to firm start as U.S. price data fail to quell inflation worries
Petrol, diesel prices unchanged today after record high
Gold ticks up on weaker dollar, tame inflation data
Oil strikes 2018 highs on demand recovery, Iran nuclear talks
Asian shares start on cautious note amid rise in COVID-19 cases
SGX Nifty indicates a flat start for the Indian indices:
S&P 500 closes at record high, lifted by Nike and banks
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 57,426.92 | 1,016.96 | +1.80% |
| Nifty 50 | 17,094.35 | 276.25 | +1.64% |
| Nifty Bank | 38,631.95 | 984.20 | +2.61% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Hindalco | 390.55 | 19.35 | +5.21% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Asian Paints | 3,342.45 | -42.35 | -1.25% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty PSU Bank | 2995.00 | 87.65 | +3.01% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty FMCG | 44405.65 | 49.40 | +0.11% |
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Nagaraj Shetti, Technical Research Analyst, HDFC Securities:
The underlying trend of Nifty remains positive. The market is still showing range bound action near the crucial hurdle of 15900. A sustainable move above 15900-15925 could only open next round of upside in the market towards 16200-16300 levels. Any decline from here could find support around 15760 and next 15650 levels for this week.
Ajit Mishra, VP - Research, Religare Broking:
Markets settled marginally lower as participants preferred to book profit at higher levels. The benchmark opened on a firm note following supportive global cues however profit-taking in the index majors erased all the gains and pushed the index lower. Eventually, the Nifty index ended lower by 0.2% at 15,815 levels. Amongst the sector, a mixed trend was witnessed wherein metal, healthcare and FMCG ended with gains whereas IT, capital goods and oil & gas ended with losses. The broader markets outperformed wherein both midcap and small cap ended higher by 0.6% and 0.5% respectively.
Markets may react to the announcements made by the Finance Minister(FM) in early trades on Tuesday which were primarily focused on boosting the economic recovery and supporting the vulnerable sectors and individuals impacted due to COVID. We reiterate our bullish view and suggest continuing with a stock-specific trading approach. Among the sectors, banking has the potential to trigger the next up move.
Ashis Biswas, Head of Technical Research at CapitalVia Global Research:
After breaching all-time high of 15900, the market witnessed some lackluster movement and an attempt to hold the support level above the Nifty 50 Index level of 15800. The market suggests, trading above 15800 is positive from a short-term perspective. Sustaining above 15800 levels, the market to gain momentum, leading to an upside projection till 16100-16200 level. The momentum indicators like RSI, MACD to further strengthen in favor of a positive outlook.
Rupee Close:
Indian rupee ended flat at 74.19 per dollar, amid selling saw in the domestic equity market. It opened marginally lower at 74.25 per dollar against Friday's close of 74.18 and trade in the range of 74.17-74.27.
Market close:
Benchmark indices ended lower on June 28 with Nifty below 15,850 amid Finance Minister Nirmala Sitharaman announced another stimulus package.
At close, the Sensex was down 189.45 points or 0.36% at 52735.59, and the Nifty was down 45.70 points or 0.29% at 15814.70. About 1826 shares have advanced, 1420 shares declined, and 147 shares are unchanged.
Divis Labs, Dr Reddys Labs, Hindalco, Tata Steel and Tech Mahindra were among major gainers on the Nifty. Top losers included HDFC Life, Titan Company, TCS, Shree Cements and Coal India.
Among sectors, Nifty PSU Bank, pharma and metal indices gained 1-2 percent, while IT, energy and infra indices witnessed selling pressure. BSE Midcap and Smallcap indices up 0.4 percent each.
Union Finance Minister Nirmala Sitharaman | Announces Rs 1.1 lakh crore loan guarantee scheme for COVID-affected sectors and additional Rs 1.5 lakh crore announced under the Emergency Credit Line Guarantee Scheme (ECLGS).
Abhishek Bansal, Founder Chairman, Abans Group
Gold prices stuck up in the tight range of $1771-1796 from the last five trading sessions. A mixed instance on Fed policy is keeping prices in a tight range.
Gold prices are likely to find stiff resistance near $1793-$1814 meanwhile immediate support level could be seen near $1762-$1747.
Geojit on Power Mech Projects
With strong order inflow, diversification to non power segment and increased focus in O&M segment, we expect the company to be in its growth trajectory in FY22.
Impressive order book and superior execution capabilities will drive earnings growth. Therefore, we reiterate buy rating and value
the stock at a P/E of 7x FY23E earnings with a target price of Rs 894.
Hemang Jani, Head Equity Strategy, Broking & Distribution, Motilal Oswal Financial Services
Dodla dairy, a South based dairy firm, had a strong listing today with 28% premium at Rs 550/share against its issue price of Rs 428/share. The Rs 520 crore issue had seen strong subscription of 45.6 times, given its presence in niche space and decent fundamentals.
Dodla Dairy is one of the leading dairy firm in Southern India and is the third-largest player in terms of milk procurement per day. It derives about 30% of its revenue from the value added products, the share of which is likely to accelerate going ahead.
The issue was reasonably priced at 16.4x FY21 P/E vis-à-vis its peers, which also led to strong interest in the counter apart from its presence in niche space. However, the listed companies in this space have not done well so far, thus it needs to be seen how this company performs going ahead.
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