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June 30, 2022 / 04:10 PM IST

Closing Bell: Market ends flat amid high volatility on expiry day; metal, realty drag

On the sectoral front, Auto, PSU Bank, Realty, Metal shed 1-2%, while buying was seen in the Power and Banking names.

  • IndexPricesChangeChange%
    Sensex58,387.9389.13 +0.15%
    Nifty 5017,397.5015.50 +0.09%
    Nifty Bank37,920.60165.05 +0.44%
    Nifty 50 17,397.50 15.50 (0.09%)
    Fri, Aug 05, 2022
    Biggest GainerPricesChangeChange%
    UltraTechCement6,775.20187.15 +2.84%
    Biggest LoserPricesChangeChange%
    Hindalco410.80-10.90 -2.58%
    Best SectorPricesChangeChange%
    Nifty IT29973.55190.65 +0.64%
    Worst SectorPricesChangeChange%
    Nifty Energy26418.65-385.15 -1.44%


  • June 30, 2022 / 04:26 PM IST

    Prashanth Tapse, Vice President (Research), Mehta Equities:

    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.

  • June 30, 2022 / 04:01 PM IST

    Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities:

    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.

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  • June 30, 2022 / 03:54 PM IST

    Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities:

    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.

  • June 30, 2022 / 03:41 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    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.

  • June 30, 2022 / 03:35 PM IST

    Rupee Close:

    Indian rupee ended flat at 78.97 per dollar against previous close of 78.96.

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  • June 30, 2022 / 03:33 PM IST

    Market Close: 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.

  • June 30, 2022 / 03:25 PM IST

    CLSA View On LIC Housing Finance

    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.

  • June 30, 2022 / 03:22 PM IST

    Nifty PSU Bank index declined 1 percent dragged by the Bank of Baroda, PNB, Canara Bank

     Nifty PSU Bank index declined 1 percent dragged by the Bank of Baroda, PNB, Canara Bank
  • June 30, 2022 / 03:20 PM IST

    CLSA On ICICI Prudential Life Insurance Company

    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.

  • June 30, 2022 / 03:18 PM IST

    BSE Midcap index shed 0.8 percent dragged by the Oil India, JSW Energy, IRCTC

     BSE Midcap index shed 0.8 percent dragged by the Oil India, JSW Energy, IRCTC
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  • June 30, 2022 / 03:15 PM IST

    Jefferies View On Crompton Greaves Consumer Electrical

    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.

  • June 30, 2022 / 03:13 PM IST

    Zydus Lifesciences gets final approval from USFDA for Lacosamide injection:

    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.

     Zydus Lifesciences gets final approval from USFDA for Lacosamide injection:  

 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.
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