Taking Stock | Nifty Ends At Record Closing High Led By IT, Energy Stocks; Smallcaps Outperform
Experts see 16,000 as the next big hurdle for Nifty, while support for the index has moved higher to 15,500-15,600 after today's session.... Read More
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 84,997.13 | 368.97 | +0.44% |
| Nifty 50 | 26,053.90 | 117.70 | +0.45% |
| Nifty Bank | 58,385.25 | 171.15 | +0.29% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Adani Ports | 1,454.80 | 36.90 | +2.60% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Dr Reddys Labs | 1,250.90 | -38.50 | -2.99% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Energy | 36347.90 | 689.70 | +1.93% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Auto | 26948.90 | -199.40 | -0.73% |
Rupee traded strong with gains of 0.10 near 72.81 with unlocking tab on all over the country. Capital markets witnesses a steady inflow in June giving positive support to the rupee. On the dollar Index front the base currency has seen some minor support formation near 89.70-90.00 which has kept the rupee rise to a limit. Crude prices trading higher also keeps a limited rise for the rupee. Going ahead rupee can be seen in the range of 72.65-73.25.
The market witnessed some lackluster movement and an attempt to hold the support level around 15700. Trading above 15700 is positive from a short-term perspective. Sustaining above 15700 levels, the market expects to gain momentum, leading to an upside projection till 15870-15900 level. The momentum indicators like RSI and MACD supporting the trend and indicating potential upside from the current market level.
Indian rupeeended19paise higher at 72.84 per dollar, amid buying saw in the domestic equity market.It opened 15 paise higher at 72.85 per dollar versus Friday's close of 73 and traded in the range of 72.74-72.88.
: Benchmark indices ended higher on June 7 with Nifty above 15,751 supported by the IT, infra and energy names.
The Sensex was up 228.46 points or 0.44% at 52328.51, and the Nifty was up 81.40 points or 0.52% at 15751.70. About 2284 shares have advanced, 961 shares declined, and 156 shares are unchanged.
Adani Ports, Power Grid Corp, NTPC, Shree Cements and Tata Motors, top losers were Bajaj Finance, Bajaj Finserv, HDFC, JSW Steel and Divis Labs.
Metal and pharma indices down marginally, while all other sectoral indices ended in the green. BSE Midcap and Smallcap indices rose 0.7-1.4 percent.
After moderating for two quarters and moving closer to RBI’s target, CPI inflation will likely accelerate in the coming months – we expect it to rise to 5.7% in May from 4.3% in April. The 140bp increase in headline CPI will likely be driven by the combination of a low base effects and a broad-based sequential increase in prices across major CPI components.
Over 500 Stocks hits 52-week high on the BSE; get a complete list of stocks that have touched their 52-week highs during the day:
IOB, Central Bank of India, Bank Of India are the suitors for the privatisation. Government is not adhering to a PCA/non PCA criterion for public sector banks privatisation, quoting Sources, reported CNBC-TV18.
Indian Overseas Bank was quoting at Rs 21.40, up Rs 2.15, or 11.17 percent and Central Bank of India was quoting at Rs 23.10, up Rs 1.80, or 8.45 percent. Bank Of India was quoting at Rs 85.20, up Rs 2.90, or 3.52 percent.
Indian rupee is trading higher by 16 paise at 72.84 per dollar, amid volatile trade seen in the domestic equity market.It opened 15 paise higher at 72.85 per dollar versus Friday's close of 73.
Benchmark indices were trading at day's high level with Nifty above 15750 supported by the IT and energy names.
At 15:00 IST, the Sensex was up 236.66 points or 0.45% at 52336.71, and the Nifty was up 86.40 points or 0.55% at 15756.70. About 2160 shares have advanced, 887 shares declined, and 130 shares are unchanged.
Top gainers were Adani Ports, Power Grid Corp, NTPC, Tata Motors and Shree Cements were among major gainers.
Metal and pharma indices were down marginally, while all other sectoral indices were trading in the green. BSE Midcap and Smallcap indices rose 1 percent each.
Strong order book, better prospects and great execution capabilities all point to L&T (ex IT/Fin/Dev. Projects) returning to mid-teen earnings growth.
We expect 15% EPS CAGR over FY21-FY24E – similar to FY15-FY20 and expect centre and state capex to see a rebound after Covid second wave, similar to what happened last year, said Emkay.
It assume coverage on L&T with a buy rating and target price of Rs 1,770 (June’22E). Improving core ROIC, strong & clean order book, increased opportunities in Renewables, Steel and Cement apart from Rail, Expressways and Water bode well for future trajectory.
Oil eased after hitting a two-year peak on Monday, pressured by the prospect of higher Iranian exports though recovering demand and OPEC+ supply curbs provided underlying support.
