Indian rupee ends flat at 78.97 per dollar
Indices ends flat in the volatile session on F&O expiry day
CLSA maintains buy rating on LIC Housing Finance, cut target price to Rs 420
Nifty PSU Bank index declines 1 percent dragged by the Bank of Baroda, PNB, Canara Bank
CLSA maintains buy rating on ICICI Prudential Life Insurance Company
BSE Midcap index sheds 0.8 percent dragged by the Oil India, JSW Energy, IRCTC
Jefferies keeps buy rating on Crompton Greaves Consumer Electrical, target Rs 490
Zydus Lifesciences gets final approval from USFDA for Lacosamide injection
CLSA keeps underperform rating on Lupin, cut target to Rs 640
MTAR Technologies bags orders worth Rs 174.6 crore
Ahluwalia Contracts bags order worth Rs 209 crore to build data centre in Noida
European indices under pressure, down 1.5-2 percent
Motilal Oswal maintains buy rating on ITC, target Rs 335
Nifty Bank index rises 0.5 percent led by the Axis Bank, SBI, Kotak Mahindra Bank
Indices trade flat ahead of F&O expiry
BSE Metal index falls 2 percent dragged by the Vedanta, Coal India, JSW Steel
Wonderla Holidays to develop amusement park project in Bhubaneswar
Infosys invests $10 million in US-based The House Fund
Macquarie keeps underperform rating on Jubilant FoodWorks with a target at Rs 440
BSE Auto index slips 0.6 percent dragged by the Escorts, Eicher Motors, Tube Investments of India
Asian Paints' shareholders approve re-appointment of Amit Syngle as MD & CEO
Power Grid to consider fundraising of up to Rs 6,000 crore
TCS launches servitisation engine on Oracle Cloud
Investec maintains buy rating on Exide Industries, cut target to Rs 200
Nifty Metal index sheds 1 percent dragged by the Jindal Steel, Vedanta, JSW STeel
Dr Reddy's settles patent litigation with Indivior, Aquestive Therapeutics
MCX spikes 4% as foreign portfolio investors allowed to trade in commodity derivatives
JB Chemicals to acquire portfolio of brands of Dr Reddy’s
BSE Realty index sheds 1 percent dragged by the Phoenix Mills, Indiabulls Real Estate, Godrej Properties
Devyani International opens its 1,000th outlet
CRISIL upgrades rating of AU Small Fin Bank's long-term debt instruments, fixed deposit
Biocon acquires equity stake up to 26% in AMPYR Renewable Energy Resources Eleven
CARE Ratings revises rating of Panama Petrochem's Long Term Bank Facilities A+
BSE Power index up 1 percent led by the Adani Transmission, Power Grid, NHPC
Indian Oil Corporation to expand capacity of Digboi refinery
Indian Oil Corporation to expand capacity of Digboi refinery
UPL & Bunge in partnership to set up a new company in Brazil
Fitch affirms Glenmark Pharmaceuticals at 'BB'; outlook stable
Indices open flat on June F&O expiry day
Expect banking stocks to trade sluggish amidst recession concerns: Prashanth Tapse
Expect market volatility to continue within a broader trading range: Siddhartha Khemka
Indian rupee opens marginally higher at 78.89 per dollar
Indian markets are likely to witness a muted opening: ICICI Direct
Sebi allows FPIs to participate in exchange-traded commodity derivatives market
Expect USDINR to trade sideways but with a positive bias: Gaurang Somaiya
Rupee is expected to depreciate today: ICICI Direct
Dr Reddy’s: US court dismisses all claims & counterclaims pending in Indivior case
Euro under pressure as inflation fears send investors to dollar haven
Oil prices stable as market weighs fuel stocks build amid supply concerns
Japan's worst factory output slump in two years heaps pressure on economy
Innova Captab files draft papers with SEBI to raise funds through IPO
Asian Markets are trading lower with Taiwan Weighted down 2%, Nikkei down 1%
S&P 500 limps to slightly lower close as quarter-end looms
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 57,527.10 | -398.18 | -0.69% |
| Nifty 50 | 16,945.05 | -131.85 | -0.77% |
| Nifty Bank | 39,395.35 | -221.55 | -0.56% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Cipla | 877.25 | 8.15 | +0.94% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Bajaj Finserv | 1,240.65 | -49.35 | -3.83% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Pharma | 11755.35 | -25.55 | -0.22% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Metal | 5372.90 | -124.95 | -2.27% |
Amidst volatility, the markets ended June expiry on a negative note. Although bulls did spring to life in the morning session, but on the backdrop of negative global cues, the benchmarks slipped hard and, most importantly, ended on a negative note.
The familiar fears of more interest rate increases and the risk of recession continued to haunt investors. Nifty’s biggest support is placed at 15367 and below the same, expect a waterfall of selling. Nifty’s major hurdle is seen at 15927.
Markets languished in negative territory for most part of the trading sessions and finally ended flat on the expiry day. The undertone remains bearish due to weak global cues and persistent foreign fund outflows. There is so much uncertainty that traders don't want to risk placing huge bullish bets.
Technically, from the last three days the market has been witnessing non directional activity. For Nifty, 15700 could be the key support level and 15900 would act as an important resistance zone.
On further decline, the index could fall to 15600-15550 levels. Any fresh uptrend is possible only after the index sees 15900 breakout and above the same it could move up to 16000-16050.
The Nifty index is stuck in a sideways trend where the immediate support is placed at 15,700 and resistance is at 15,900 level. The index once breaches the level of 15,900 on the upside will see sharp short covering on the upside towards 16,200 levels. The lower-end support if broken can see a fall towards 15,500-15,400 zone where fresh put writing has been seen.
The fight between the bears and the bulls continued in the Bank Nifty index which led the index closed on a flat note on the last day of monthly expiry.
The immediate support on the downside is placed at 33,200-33,000 zone and the upside resistance is placed at 34,000 where a significant amount of call writing has been observed. The index needs to break out of this range on either side for getting a directional move.
Shaking off a weak lead from the global market, domestic indices recouped its losses backed by banking and energy stocks. Asian and European markets struggled to regain footing amid global recession fears, leading to a resurgent US dollar, which benefitted from safe-haven demand.
FII selling nearing exhaustion provided comfort to the jittery Indian market.
Indian rupee ended flat at 78.97 per dollar against previous close of 78.96.
Indian benchmark indices ended flat in the volatile session on June 30 on the F&O expiry day.
At close, the Sensex was down 8.03 points or 0.02% at 53018.94, and the Nifty was down 18.80 points or 0.12% at 15780.30. About 1336 shares have advanced, 1857 shares declined, and 138 shares are unchanged.
Axis Bank, Britannia Industries, SBI, HDFC Life and SBI Life Insurance were among the top Nifty gainers. Bajaj Auto, Cipla, Eicher Motors, BPCL and Tech Mahindra were among the biggest losers on the index.
On the sectoral front, Auto, PSU Bank, Realty, Metal shed 1-2%, while buying was seen in the Power and Banking names.
The BSE midcap and smallcap indices were ended in the red.
CLSA has maintained buy rating on LIC Housing Finance and cut target price to Rs 420 from Rs 525 per share.
The home loan yields were up 80-90 bps for industry in the past three months. It is better placed on liabilities than other housing fin companies.
The modest RoE but multiples at COVID lows, reported CNBC-TV18.
Brokerage house CLSA has maintained buy rating on ICICI Prudential Life Insurance Company and cut target to Rs 620 from Rs 660 per share.
The company almost delivered on its doubling VNB target over FY19-23. The incremental APE growth has to be a key VNB driver unlike the past.
The growth contingent upon pick-up in protection & faster non-ICICI Bank channel growth.
The company may deliver 16% VNB CAGR over FY22-25, which is marginally lower than HDFC Life/SBI Life, reported CNBC-TV18.
Research firm Jefferies has maintained buy rating on Crompton Greaves Consumer Electrical with a target at Rs 490 per share.
The stock has corrected 25% YTD despite its robust margin resilience, however, it has potential to strengthen its appliances franchise with Butterfly acquisition.
The multiple synergy drivers have been identified. The near-term EPS could be impacted due to higher debt & lower margin.
The FY24-25 EPS estimates cut by 7-9%, while medium-term catalysts seem strong, reported CNBC-TV18.
Zydus Lifesciences has received final approval from the United States Food and Drug Administration (USFDA) to market Lacosamide Injection USP, 200 mg/20 mL (10 mg/mL) single-dose vials, company said in its press release.
Lacosamide Injection is used to treat partial-onset seizures. It is also used with other medicines to treat primary generalized tonic-clonic seizures, it added.
