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Closing Bell: Sensex plunges 4,390 pts, Nifty below 22,000 as landslide eludes NDA
Indian benchmark indices lost more than 5 percent on vote counting day on June 4. The Sensex was down 4,389.73 points or 5.74 percent at 72,079.05, and the Nifty was down 1,379.40 points or 5.93 percent at 21,884.50.
We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.
Market to remain choppy, says Ajit Mishra – SVP, Research, Religare Broking
Markets plunged sharply today, losing nearly 6% and erasing the gains of the past four months. After an initial drop, the Nifty continued to decline, almost retesting its major support zone at the long-term moving average of 200 DEMA around 21,280. However, some recovery in the latter half of the session pared losses, and the index finally settled at 21,844.50. All key sectors, except FMCG, experienced significant losses, with PSUs, energy, and metals being the hardest hit. The broader indices also suffered, each losing around 8%.
Following this sharp decline, we expect continued choppiness, so participants should limit their trades and wait for stability. Investors, however, can use this opportunity to accumulate quality stocks available at good bargains.
Bellow 21,100, Nifty may decline towards 20,560, says Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
Nifty witnessed a gap down opening and nosedived to close down ~6% for the day. The Nifty has decisively broken down below the previous swing low of 21820 which has violated the higher top and higher bottom formation and suggests change in short term trend. Our primary outlook is that Nifty shall now retrace the rise it has witnessed from 18840 to 23340 between the period October 2024 to May 2024.
The crucial support levels to keep handy are 21100 which is the 200-day moving average and 50% Fibonacci retracement level of the entire up move. A close below this support zone can lead to further decline towards 20560 which is the 61.82% Fibonacci retracement level. On the upside, 22310 – 22550 shall act as an immediate hurdle from short term perspective. The range of consolidation is likely to be 21000 – 22500.
Bank Nifty has also broken down from the rising channel indicating a change in trend. We expect the Bank Nifty to correct towards 46150 – 44000 which are the 200-day moving average and the 38.2% Fibonacci retracement level of the rise from 32300 – 51100. On the upside, 48600 – 49200 shall act as an immediate hurdle.
Shrikant chouhan, Head Equity Research, Kotak Securities:
Today the benchmark indices corrected sharply. Among Sectors, almost all the major sectoral indices witnessed profit booking at higher level, but PSU Banks and Energy indices lost the most. Technically, after an early morning sharp selloff the market breached the crucial support of 20-day SMA (Simple Moving Average) or 22500/74000 and post breakdown the selling pressure intensified.
In addition, on daily charts the index has formed a long bearish candle and is also trading below short term and medium-term averages, which is largely negative. For the traders now, 50-day SMA or 22400/73500- and 22500/74000 would be the key resistance areas while 21600-21300/71000-70200 would act as key intraday supports zones. We are of the view that the current market texture is extremely volatile and uncertain; hence, it is advisable that traders should remain cautious for the next few trading sessions.
Vinod Nair, Head of Research, Geojit Financial Services
The unexpected outcome of the general election sparked a wave of fear selling in the domestic market, reversing the recent substantial rally. Despite this, the market maintains its expectation of stability within the coalition, led by BJP as the major election winner, thereby mitigating substantial downside in the medium-term.
This is likely to lead to a major shift in political policy with a focus on social economics, which will have a positive effect on the rural economy. Alongside, the sectors that have topped in the past five years, including power, capital goods, real estate, and industrials, are advised to exercise caution in the near term. Nevertheless, the long-term growth prospects for these sectors remain robust.
Sensex Today | Immediate support for Nifty at 21,600: Aditya Gaggar Director of Progressive Shares
On the election result day, the Indian equities commenced the session on a tepid note. Mayhem was seen in the form of panic selling across the board in the morning trade itself. In the mid-session, some recovery was seen but did not last for long as another round of selling in the last session dragged the Index lower to end the session with a massive cut of 1379.40 points at 21,884.50.
Barring FMCG, all the sectors ended the session with a sharp decline with PSU Banks and Energy being the major underperformers.
The real pain was seen in the Broader markets as Mid and Smallcaps corrected over 7.8% to underperform the Frontline Index.
On the daily chart, the Index has formed a massive red candle which suggests extreme pessimism in the markets and the impact of counting is likely to persist tomorrow as well. The immediate support is located at 21,600 while a level of 22,500 will be a strong hurdle.
Currency Check | Rupee closes 38 paise lower
Indian rupee ended 38 paise lower at 83.52 per dollar on Tuesday versus Monday's close of 83.14.
Closing Bell: Sensex plunges 3,900 pts, Nifty at 22,000; FMCG outshine
Indian benchmark indices lost more than 5 percent on vote counting day on June 4.
The Sensex was down 4,389.73 points or 5.74 percent at 72,079.05, and the Nifty was down 1,379.40 points or 5.93 percent at 21,884.50. About 331 shares advanced, 3093 shares declined, and 55 shares unchanged.
Biggest losers on the Nifty included Adani Ports, Adani Enterprises, ONGC, NTPC and SBI, while gainers were HUL, Nestle, Britannia Industries, Hero MotoCorp and Tata Consumer Products.
Except FMCG, all other sectoral indices ended in the red with Realty, Telecom, Metal, Capital Goods, Oil & Gas, Power, PSU Bank down more than 10 percent each.
BSE Midcap index shed 8 percent and smallcap index fell nearly 7 percent.
Immediate support for Nifty at 21,800 - 21,850: Riyank Arora, Technical Analyst, Mehta Equities
Nifty has an immediate support zone placed at 21,800 - 21,850 mark - which if broken can extend weakness further towards 21,500 and 21,250 levels. However, if this level holds well then we can see 22,250 and 22,500 reclaiming once.
At present levels, the risk reward looks favourable on the buying side with a strict stoploss kept at 21,800 mark for potential targets of 22,250 and 22,500 on the benchmark.
Similarly, Bank Nifty has a major support zone placed at 46,500 to 46,700 zone - which if broken can extend weakness towards 46,000 and 45,500 levels. However, if this level is held then we can see higher levels of 48,000 and 48,500 levels.
At present levels, the risk reward looks favourable on the buying side with a strict stoploss kept at 46,500 mark for potential targets of 48,000 and 48,500 levels.
| Company | CMP | High Low | Gain from Day's Low |
|---|---|---|---|
| NTPC | 346.70 | 395.00 313.80 | 10.48% |
280.00
148.15
734.25
855.45
2,340.35
1,224.50
3,059.00
1,235.00
2,449.00
| Company | 52-Week Low | Day’s Low | CMP |
|---|---|---|---|
| Bajaj Finserv | 1569.20 | 1569.20 | 1,467.05 |
| HDFC Life | 555.00 | 555.00 | 533.05 |
| LTIMindtree | 4675.95 | 4675.95 | 4,606.95 |
Sensex Today | 4.26 million shares of ITC traded in a bunch: Bloomberg
Brokerage Call | Jefferies On Industrials
#1 FY24 order flow rose 35 percent YoY for industrial stocks
#2 Siemens’ sizeable Rs 25,500 crore FY23 railways order & 44 percent YoY excluding it
#3 ABB, Siemens, Thermax combined saw 8 percent YoY order growth
#4 If the current govt retains majority, it adds wings to the strong sector outlook
#5 L&T, HAL, Siemens, ABB, Data Patterns, Thermax & KEI are top picks
Sensex Today | India VIX up 25%
Sensex Today | PNB to dilute 10% in Canara HSBC Life Insurance
Punjab National Bank in its meeting has accorded its approval for initiating the process of diluting 10.00% stake of the bank in M/s Canara HSBC Life Insurance Company Ltd., an associate company of the bank, by listing the company in Stock Exchanges (BSE/NSE) through Initial Public Offer (IPO). The same shall be subject to regulatory approvals.
Stock Market LIVE Updates | Vakrangee to acquire 48.5% stake in Vortex Engineering
Vakrangee has entered into a share purchase agreement for acquisition of 48.5% equity share capital of Vortex Engineering Private Limited from the AAVISHKAAR INDIA MICRO VENTURE CAPITAL FUND, AAVISHKAAR INDIA II COMPANY LIMITED and AAVISHKAAR VENTURE MANAGEMENT SERVICES PRIVATE LIMITED.
Sensex Today | Nifty Midcap 100 index recovers 2,100 points from day's low
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Max Healthcare | 777.00 | 1.54 | 2.90m |
| Page Industries | 36,790.00 | 1.24 | 34.66k |
| Sun TV Network | 678.20 | 0.83 | 1.49m |
| Ipca Labs | 1,133.70 | 0.57 | 850.68k |
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Union Bank | 139.35 | -18.03 | 50.98m |
| BHEL | 255.70 | -17.9 | 108.70m |
| Container Corp | 968.45 | -17.53 | 9.99m |
| JSW Energy | 548.70 | -16.7 | 10.06m |
| SAIL | 140.30 | -15.66 | 96.85m |
| Vodafone Idea | 13.55 | -15.31 | 2,147.48m |
| Indian Bank | 515.80 | -14.93 | 8.78m |
| HINDPETRO | 498.95 | -14.33 | 14.52m |
| HDFC AMC | 3,524.00 | -13.84 | 1.11m |
| ACC | 2,318.75 | -13.57 | 1.35m |
| Company | CMP | High Low | Gain from Day's Low |
|---|---|---|---|
| Hindalco | 655.80 | 697.00 594.25 | 10.36% |
2,733.95
410.80
1,188.00
731.95
148.15
4,920.25
223.00
1,219.05
279.75
Sensex Today | Oil falls more than $1 on worries of supply rising later in 2024
Oil prices fell more than $1 on Tuesday, extending losses from a four-month low in the previous session, as investors worried about supply rising later in the year amid signs of weakening U.S. demand.
Brent crude futures fell $1.14 cents, or 1.5%, to $77.22 a barrel at 0825 GMT. Brent on Monday closed below $80 for the first time since Feb. 7, after falling more than 3%.
U.S. West Texas Intermediate crude futures eased $1.23 cents, or 1.7%, to $72.99 a barrel. WTI on Monday fell by 3.6% to settle near a four-month low.
Sensex Today | All Nifty CPSE stocks trade in the red; REC, PFC down 20% each
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| REC | 471.00 | -22.08 | 87.87m |
| Power Finance | 439.00 | -20.87 | 94.61m |
| Bharat Elec | 264.20 | -17.09 | 240.31m |
| GAIL | 191.95 | -16.83 | 132.58m |
| Container Corp | 976.90 | -16.81 | 9.84m |
| ONGC | 239.15 | -15.82 | 60.63m |
| Engineers India | 229.50 | -14.65 | 17.04m |
| Coal India | 449.85 | -12.2 | 41.26m |
| IOC | 156.00 | -11.01 | 79.20m |
| Oil India | 610.30 | -8.82 | 5.67m |
USDINR spot to trade between 82.90-84: Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas
Indian Rupee depreciated by 0.37% today as domestic markets fell sharply amid uncertainty over election results outcome. This may have also led to some sell-off by foreign investors. US Dollar recovered from yesterday’s losses on weak Euro which fell on disappointing employment data. US Dollar fell on Monday on weaker than expected ISM manufacturing PMI and construction spending.
We expect Rupee to trade with a slight negative bias amid uncertainty over outcome of election results. Currently, it seems difficult for the ruling party to get a clear mandate/absolute majority. However, Rupee will take cues from final results. Traders may also take cues from movement in the US Dollar and crude oil prices.
On the data front, traders may watch out for JOLTS job openings and factory orders data from the US. Investors may remain cautious ahead of RBI’s monetary policy later this week. USDINR spot price is expected to trade in a range of Rs 82.90 to Rs 84.
Sensex Today | Market fall a short-term disappointment, stable govt key to recovery, says Feroze Azeez of Anand Rathi
As BSE-listed companies erase market-cap of nearly Rs 40 lakh crore on June 4 due to underwhelming vote tally for Narendra Modi-led National Democratic Alliance (NDA) compared to exit poll estimates, Feroze Azeez, Deputy CEO at Anand Rathi Wealth in a conversation with Moneycontrol said that he expects some degree of disappointment to prevail in the short-term.
However, Azeez ruled out any catastrophic fall in the medium-term, terming this panic as a knee-jerk reaction to exit poll estimates. (More read)
Sensex Today | Nomura urges patience amid Indian election uncertainty
Nomura advises waiting for clarity on the Indian election situation. Nathan Sribalasundaram, rates strategist at the firm, notes the discrepancy between exit polls and actual results, suggesting a need to await final outcomes for long-term predictions.
Sensex Today | Nearly 650 stocks hit lower circuit among BSE all listed stocks
Out of all the stocks listed on the BSE, 650 hit the lower circuit. This included 17 stocks in the A group, 71 in the B group, 43 in the M group, 126 in the T group, 112 in the X group, and 226 in the XT group.
Despite the significant selloff, approximately 96 stocks across all listed firms on the BSE hit the upper circuit. Among these were 14 stocks from the T group, 27 from the X group, and 42 from the XT group.
Sensex Today | European markets trade lower
Markets@2 | Sensex, Nifty off day's low
The Sensex was down 3,310.42 points or 4.33 percent at 73,158.36, and the Nifty was down 1,030.20 points or 4.43 percent at 22,233.70. About 308 shares advanced, 3099 shares declined, and 55 shares unchanged.
Except Nifty FMCG, all other sectoral indices were trading in the red.
BSE Midcap and Smallcap indices fell 5-6%
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| HUL | 2,498.05 | 6.03 | 5.79m |
| Hero Motocorp | 5,336.05 | 3.4 | 1.55m |
| Britannia | 5,331.40 | 3.17 | 610.52k |
| Nestle | 2,404.25 | 2.09 | 1.10m |
| TATA Cons. Prod | 1,082.00 | 1.2 | 1.70m |
| Divis Labs | 4,342.30 | 0.47 | 673.98k |
| Cipla | 1,455.15 | 0.19 | 1.30m |
| TCS | 3,707.70 | 0.13 | 2.47m |
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Adani Enterpris | 3,054.60 | -16.2 | 15.56m |
| Adani Ports | 1,370.10 | -13.5 | 42.04m |
| SBI | 793.95 | -12.33 | 96.80m |
| ONGC | 250.15 | -11.95 | 53.02m |
| Coal India | 452.70 | -11.64 | 31.76m |
| NTPC | 349.35 | -10.83 | 60.95m |
| BPCL | 598.80 | -10.11 | 17.29m |
| Larsen | 3,513.55 | -9.84 | 7.28m |
| Power Grid Corp | 308.00 | -8.78 | 56.28m |
| Shriram Finance | 2,312.00 | -7.86 | 2.60m |
Sensex Today | BSE Information Technology index down 0.7%; Genesys International down 10%
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Genesys Int | 467.05 | -9.56 | 27.57k |
| Axiscades Tech | 459.15 | -8.54 | 44.37k |
| Vakrangee | 20.99 | -8.54 | 1.45m |
| Quick Heal Tech | 412.70 | -8.15 | 11.03k |
| Subex | 25.83 | -7.68 | 2.07m |
| Sasken Tech | 1,371.70 | -7.58 | 5.38k |
| Datamatics Glob | 492.95 | -6.72 | 27.84k |
| 3i Infotech | 32.57 | -5.89 | 371.42k |
| Tanla Platforms | 865.00 | -5.78 | 27.98k |
| Onward Tech | 353.75 | -5.54 | 11.90k |
Brokerage Call | Jefferies maintains 'buy' rating on HEG, target Rs 2,800
#1 Despite strong 70 percent+ utilisations, pricing pressure dragged FY24 pat for GRIL & HEG
#2 Estimate margin pain to continue in FY25, & hence cut estimate
#3 But are cautiously optimistic on a gradual revival thereafter
#4 Recent recovery in global PMIs is driving optimism
#5 New EAF steel capacities are coming up
Sensex Today | Adani Group Stock recovers some lost ground
Sensex Today | Nifty Realty index down 8%; Hemisphere Properties, Prestige Estate, DLF Indiabulls Real Estate fall 10-12%
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Hemisphere | 179.20 | -11.94 | 3.10m |
| Prestige Estate | 1,530.85 | -11.78 | 1.30m |
| DLF | 772.80 | -11.09 | 8.38m |
| Indiabulls Real | 121.50 | -10.53 | 22.67m |
| Godrej Prop | 2,673.65 | -9.82 | 752.87k |
| Brigade Ent | 1,245.55 | -9.09 | 473.61k |
| Sobha | 1,771.85 | -8.53 | 368.96k |
| Oberoi Realty | 1,748.50 | -7.19 | 654.76k |
| Phoenix Mills | 3,183.65 | -4.76 | 543.74k |
| Sunteck Realty | 458.40 | -2.97 | 698.40k |
Sensex Today | Adani Group Stocks market-cap fall by more than Rs 3 lakh crore
Sensex Today | Nifty FMCG index gains 0.5%; HUL, Dabur India up 5% each
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| HUL | 2,487.00 | 5.56 | 5.10m |
| Dabur India | 569.90 | 4.61 | 11.52m |
| Colgate | 2,788.00 | 3.75 | 750.69k |
| Marico | 610.00 | 2.68 | 5.53m |
| Britannia | 5,306.00 | 2.67 | 587.24k |
| Godrej Consumer | 1,329.50 | 1.76 | 1.17m |
| Nestle | 2,391.05 | 1.53 | 950.78k |
| United Spirits | 1,198.00 | 1.43 | 1.66m |
| TATA Cons. Prod | 1,076.90 | 0.72 | 1.47m |
| P and G | 16,023.50 | 0.05 | 5.12k |
Sensex Today | BSE Bank index declines 9%; Bank of Baroda down 16%, SBI down 13%
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Bank of Baroda | 247.10 | -16.7 | 3.09m |
| SBI | 784.45 | -13.4 | 5.47m |
| IndusInd Bank | 1,395.95 | -8.76 | 301.66k |
| ICICI Bank | 1,069.05 | -7.86 | 769.88k |
| Axis Bank | 1,131.15 | -7.59 | 459.83k |
| Federal Bank | 153.60 | -6.54 | 1.03m |
| IDFC First Bank | 73.22 | -6.12 | 4.10m |
| HDFC Bank | 1,481.50 | -5.76 | 741.32k |
| Kotak Mahindra | 1,635.95 | -4.83 | 430.39k |
| AU Small Financ | 627.45 | -2.68 | 108.24k |
Sensex Today | BSE Auto index slips 4%; Ashok Leyland, Cummins down 10% each
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Ashok Leyland | 209.05 | -11.57 | 2.14m |
| Cummins | 3,325.80 | -10.45 | 43.39k |
| Balkrishna Ind | 2,882.55 | -5.47 | 14.06k |
| Tata Motors | 899.00 | -5.42 | 2.63m |
| MOTHERSON | 141.40 | -5.35 | 2.37m |
| Apollo Tyres | 455.10 | -4.51 | 102.44k |
| MRF | 121,932.10 | -3.95 | 732 |
| Bosch | 28,804.75 | -3.89 | 1.50k |
| Tube Investment | 3,692.50 | -3.83 | 14.55k |
| Eicher Motors | 4,510.65 | -3.38 | 17.11k |
Sensex Today | India’s growth story is intact: Raamdeo Agrawal on CNBC-TV18
#1 FIIs might have a sentimental reaction
#2 Don’t see any risk towards India’s corporate profit
#3 Market is healthy, with 8% growth rate
#4 India’s growth story is intact
#5 Believe India GDP growth 8-8.5% will not go away
Markets@1 | Sensex down 4,400 pts, Nifty below 21,900
The Sensex was down 4,405.52 points or 5.76 percent at 72,063.26, and the Nifty was down 1,397.90 points or 6.01 percent at 21,866.00. About 241 shares advanced, 3149 shares declined, and 57 shares unchanged.
| Index | CMP Chg(%) | YTD(%) 1 Week(%) | 1 Month(%) 1 Year(%) |
|---|---|---|---|
| NIFTY 50 | 21764.65 -6.44 | 0.15 -4.91 | -3.16 17.43 |
| NIFTY BANK | 46694.40 -8.41 | -3.31 -4.98 | -4.56 6.27 |
| NIFTY Midcap 100 | 48963.50 -8.23 | 6.02 -6.37 | -3.87 44.15 |
| NIFTY Smallcap 100 | 15601.00 -8.76 | 3.02 -7.55 | -7.89 51.15 |
| NIFTY NEXT 50 | 63508.15 -10.07 | 19.05 -7.35 | -3.44 50.03 |
| Index | CMP Chg(%) | YTD(%) 1 Week(%) | 1 Month(%) 1 Year(%) |
|---|---|---|---|
| NIFTY AUTO | 22948.80 -4.35 | 23.26 -3.63 | 1.81 59.49 |
| NIFTY IT | 32118.65 -1.21 | -9.56 -5.20 | -2.40 9.51 |
| NIFTY PHARMA | 18553.35 -1.65 | 10.23 -3.45 | -3.03 43.82 |
| NIFTY FMCG | 54336.05 -0.58 | -4.65 -1.69 | 0.11 5.94 |
| NIFTY PSU BANK | 6750.35 -15.69 | 18.15 -8.30 | -10.34 64.92 |
| NIFTY METAL | 8898.65 -11.44 | 11.54 -9.34 | -4.07 49.41 |
| NIFTY REALTY | 969.20 -10.26 | 23.77 -4.04 | 0.68 97.45 |
| NIFTY ENERGY | 37882.00 -11.87 | 13.19 -7.14 | -6.63 59.26 |
| NIFTY INFRA | 8185.75 -10.51 | 12.08 -6.72 | -3.92 49.58 |
| NIFTY MEDIA | 1795.65 -6.92 | -24.81 -4.71 | -3.00 0.62 |
Stock Market LIVE Updates | Wipro appoints Bruno Schenk as the Country Head and MD for Switzerland
The technology services and consulting company has appointed Bruno Schenk as the Country Head and Managing Director for Switzerland, effective immediately.
Sensex Today | Nifty FMCG index outperform; HUL up 5%
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| ITC | 411.50 | -4.38 | 25.28m |
| Varun Beverages | 1,408.00 | -3.83 | 1.76m |
| Jubilant Food | 487.25 | -2.12 | 3.22m |
| Emami | 627.70 | -1.01 | 2.54m |
| United Spirits | 1,171.55 | -0.81 | 1.50m |
| TATA Cons. Prod | 1,062.25 | -0.65 | 1.33m |
| Godrej Consumer | 1,300.00 | -0.5 | 987.39k |
| P and G | 15,938.25 | -0.48 | 4.59k |
| United Brewerie | 1,875.00 | -0.07 | 284.65k |
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| HUL | 2,471.00 | 4.89 | 4.55m |
| Dabur India | 565.95 | 3.88 | 10.94m |
| Colgate | 2,746.00 | 2.19 | 696.26k |
| Britannia | 5,270.85 | 1.99 | 464.15k |
| Marico | 605.40 | 1.9 | 5.07m |
| Nestle | 2,384.15 | 1.24 | 849.21k |
| United Brewerie | 1,880.45 | 0.22 | 286.73k |
Brokerage Call | Morgan Stanley keeps 'overweight' rating on Adani Ports, target Rs 1,517
#1 Acquires container terminal at Tanzania port
#2 30-year agreement to operate & manage Ct2
#3 95 percent stake acquired through consortium JV (EAGL) for USD 39.5 m
#4 Cargo volumes were flat YoY in May'24 & +5 percent YoY for YTDFY25
#5 Shutdown of Gangavaram Port led to volume loss of 6 mmt in April-May 2024
Sensex Today | BSE Telecom index drop 14%; Vodafone Idea slips 20%
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Vodafone Idea | 12.82 | -19.98 | 228.08m |
| HFCL | 84.50 | -18.44 | 2.43m |
| INDUS TOWERS | 298.90 | -17.86 | 660.64k |
| Railtel | 353.30 | -17.81 | 842.55k |
| ITI | 266.15 | -13.01 | 180.42k |
| Avantel | 111.00 | -11.62 | 1.24m |
| Sterlite Techno | 114.15 | -10.01 | 252.11k |
| Tejas Networks | 1,052.25 | -10 | 36.63k |
| MTNL | 35.79 | -9.98 | 792.81k |
| Tata Comm | 1,621.00 | -8.69 | 24.53k |
Sensex Today | Nifty Media index sheds 10%; Zee Entertainment Enterprises, Dish TV among major laggard
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Zee Entertain | 132.85 | -15 | 20.06m |
| Dish TV | 13.00 | -13.91 | 18.92m |
| PVR INOX | 1,228.85 | -7.49 | 477.73k |
| TV TodayNetwork | 202.95 | -7.48 | 151.29k |
| JagranPrakashan | 84.25 | -6.7 | 276.98k |
| Sun TV Network | 637.85 | -5.17 | 884.21k |
| DB Corp | 278.60 | -5 | 116.53k |
| Network 18 | 75.60 | -4.97 | 495.35k |
| TV18 Broadcast | 40.60 | -4.92 | 2.52m |
Brokerage Call | Anand Rathi keeps 'buy' rating on MM Forgings, target Rs 1,500
Expect a 17% EPS CAGR over FY24-26, driven by an 11% revenue CAGR and a 210bp EBITDA margin expansion
FY25e EPS is slightly lower due to high interest and depreciation costs, while FY26e EPS is slightly higher on better margins
Retain a buy at a higher 12-mth TP of Rs 1,500, 18x FY26e EPS (earlier Rs 1,200, 15x FY26e EPS)
Raise multiple on higher EBITDA growth and coming EV opportunities (Abhinava Rizel)
Sensex Today | BSE Smallcap index falls more than 10%; Hindustan Copper drops nearly 25%
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Hind Copper | 279.00 | -24.68 | 1.27m |
| HUDCO | 229.60 | -20 | 2.35m |
| BALMLAWRIE | 223.60 | -20 | 95.01k |
| Ircon Internati | 229.60 | -20 | 3.84m |
| Gujarat Pipavav | 162.60 | -20 | 264.12k |
| Texmaco Rail | 166.20 | -20 | 1.54m |
| KPIL | 978.30 | -20 | 16.43k |
| TITAGARH | 1,194.35 | -20 | 520.17k |
| Vaibhav Global | 263.05 | -20 | 113.69k |
| Balu Forge Indu | 223.00 | -19.99 | 244.55k |
Sensex Today | BSE Midcap index shed nearly 12%; BHEL, SAIL, REC, PFC down 24% each
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| BHEL | 233.55 | -24.99 | 4.09m |
| SAIL | 125.40 | -24.55 | 3.26m |
| REC | 458.15 | -24.22 | 3.23m |
| Power Finance | 420.70 | -24.18 | 4.02m |
| Container Corp | 944.00 | -19.56 | 209.66k |
| HINDPETRO | 469.25 | -19.51 | 644.72k |
| ACC | 2,165.30 | -19.13 | 29.45k |
| Vodafone Idea | 12.96 | -19.1 | 218.00m |
| Canara Bank | 104.30 | -18.55 | 5.95m |
| Union Bank | 138.55 | -18.5 | 3.53m |
Sensex Today | Capital goods stocks in freefall as investors tap out; BEL, BHEL hit lower circuits
Shares of capital goods stocks came under fire on June 4, with the entire BSE Capital Goods index plummeting close to 10 percent as early trends of election results painted a weaker-than-expected win for the BJP-led NDA.
The capital goods pack had been at the heart of the incumbent government's infrastructure push, making it one of the best-performing sectors in recent times. Analysts had also named the sector as one of the key beneficiaries of the BJP's majority win in the elections. Read More
Sensex Today | BSE Oil & Gas index declines more than 14%; Gail down 23%, ONGC falls 20%
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| GAIL | 177.10 | -23.22 | 5.26m |
| ONGC | 228.75 | -19.47 | 1.59m |
| Adani Total Gas | 911.95 | -18.56 | 1.62m |
| HINDPETRO | 487.50 | -16.38 | 630.07k |
| Petronet LNG | 269.65 | -14.87 | 508.75k |
| BPCL | 575.10 | -13.69 | 825.23k |
| IOC | 157.70 | -9.99 | 3.17m |
| Linde India | 8,046.75 | -9.77 | 10.40k |
| IGL | 428.15 | -8.7 | 254.46k |
| Reliance | 2,761.70 | -8.59 | 615.10k |
Currency Check | Rupee extends losses
Indian rupee extended the early losses as it is trading at 83.49, down 35 paise from its Monday's close 83.14
Brokerage Call | Jefferies keeps 'buy' rating on CMS Info, target Rs 600
#1 Company is set to ramp up remote monitoring system that is on stronger platform
#2 Revenues can grow at 30 percent+ CAGR
#3 Market share could rise from 5 percent to 7 percent of total with good margins
#4 Competitive intensity is key to watch
#5 Scale-up of RMS, collections with cash management growth will aid 20 percent CAGR in profit
Sensex Today | Adani Group stocks under huge selling pressure; Adani Ports slips 24%
Sensex Today | Nfity Bank near lower circuit; down 9%
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Bank of Baroda | 238.00 | -19.85 | 41.46m |
| PNB | 111.20 | -18.83 | 88.50m |
| SBI | 757.25 | -16.39 | 58.93m |
| IndusInd Bank | 1,376.75 | -10 | 3.77m |
| Axis Bank | 1,105.05 | -9.71 | 11.59m |
| Bandhan Bank | 176.15 | -9.69 | 12.11m |
| Federal Bank | 148.90 | -9.4 | 9.96m |
| ICICI Bank | 1,056.45 | -8.93 | 21.47m |
| IDFC First Bank | 71.25 | -8.77 | 50.11m |
| HDFC Bank | 1,468.05 | -6.62 | 22.46m |
