Moneycontrol PRO
HomeNewsBusinessMarketsTaking Stock | Market recovers early losses to end with marginal gains; mid & small-caps fall

Taking Stock | Market recovers early losses to end with marginal gains; mid & small-caps fall

Among sectors, buying was seen in IT, energy and PSU banks, while metal, auto and banking names witnessed selling pressure. BSE Midcap and Smallcap ended in the red.

June 14, 2021 / 16:09 IST
Representative image

Benchmark indices recovered early losses and ended with marginal gains on June 14. At close, the Sensex was up 76.77 points or 0.15% at 52551.53, and the Nifty was up 12.50 points or 0.08% at 15811.90.

Adani group stocks lost 5-9 percent on reports pertaining to the freezing of three foreign funds by the National Securities Depository (NSDL) that own shares in four listed Adani firms.

But later in the day, the Adani group in its statement clarified that the Demat Account in which the foreign funds hold the shares of the company are not frozen.

"The Nifty has respected the 15700 level on a closing basis. Despite the crack in the first hours of trade, it has managed to claw back its losses and has closed well above the lows of the day. 15900-16000 continues to remain the next target for the index and as long as 15700 holds, traders have no reason to be concerned. A buy on dips is a prudent strategy to adopt at these levels of the market," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

Among sectors, buying was seen in IT, energy and PSU banks, while metal, auto and banking names witnessed selling pressure. BSE Midcap and Smallcap ended in the red.

Tata Motors, Reliance Industries, Wipro, Divis Labs and Bajaj Finance were among the top gainers, while losers included Adani Ports, Coal India, Kotak Mahindra Bank, HDFC and Maruti Suzuki.

Stocks & sectors

On the BSE, power and realty indices lost 1.5-2 percent, while oil & gas and IT ended in the green.

IndexPricesChangeChange%
Sensex85,609.511,022.50 +1.21%
Nifty 5026,205.30320.50 +1.24%
Nifty Bank59,528.05707.75 +1.20%
Nifty 50 26,205.30 320.50 (1.24%)
Wed, Nov 26, 2025
Biggest GainerPricesChangeChange%
JSW Steel1,154.4042.40 +3.81%
Biggest LoserPricesChangeChange%
Bharti Airtel2,126.80-34.80 -1.61%
Best SectorPricesChangeChange%
Nifty Metal10280.70207.30 +2.06%
Worst SectorPricesChangeChange%
Nifty FMCG55442.60390.50 +0.71%

Among individual stocks, a volume spike of more than 300 percent was seen in Adani Enterprises, Amara Raja Batteries and Adani Ports.

Long buildup was seen in Godrej Consumer, Power Grid and PNB, while short buildup was seen in DLF, Adani Ports and Voltas.

More than 450 stocks, including Coforge, Wipro, NBCC and Alkem Laboratories, hit a fresh 52-week high on the BSE.

Technical View

Nifty formed a small-bodied bullish candle on the daily scale with a long lower shadow indicating declines are being bought in the market.

"The index has to hold above 15,750 zones to witness an up move towards 15,900 and 16,000 zones. On the downside support exists at 15,600 and 15,500 zones," said Chandan Taparia of Motilal Oswal Financial Services.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Rakesh Patil
first published: Jun 14, 2021 04:09 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347