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Taking Stock: Last-hour buying pushes Sensex up 160 points, Nifty above 18,800

Top Nifty gainers included Tata Motors, HDFC Life, HCL Technologies, Power Grid Corporation and Eicher Motors, while losers were Bajaj Finance, Bajaj Finserv, Sun Pharma, BPCL and Divis Labs

June 20, 2023 / 16:16 IST
Bharat Agri Fert & Realty Ltd. | CMP Rs 121.55 | Shares of Bharat Agri Fert & Realty Ltd jumped 9 percent in early trade on June 20 after the company informed exchanges that it got the sanction for a housing project in Maharashtra’s Thane . At 9:57 am the Bharat Agri stock was trading 7.56 percent higher at Rs 128 on NSE. By close, the share ended at 2 percent above the previous close. Bharat Agri Fert & Realty stock has gained 37.51 percent over the past six months.

The Indian equity benchmark ended on a positive note in yet another volatile session on June 20, with the Sensex closing 159.40 points or 0.25% higher at 63,327.70 and the Nifty adding 61.20 points or 0.33% to end at 18,816.70.

Amid weak Asian markets, Indian shares started flat and extended profit booking as the day progressed but buying in the second half erased the day's losses.

Stocks and sectors

Top Nifty gainers included Tata Motors, HDFC Life, HCL Technologies, Power Grid Corporation and Eicher Motors, while losers were Bajaj Finance, Bajaj Finserv, Sun Pharma, BPCL and Divis Labs.

All sectoral indices ended in the green. The power index was up a percent, while auto, realty, metal and information technology each gained 0.5 percent.

The BSE midcap and smallcap indices gained 0.4 percent each.

A long buildup was seen in HDFC AMC, Piramal Enterprises, Shriram Finance, while a short build-up was seen in Container Corporation, Vodafone Idea and Bajaj Finance.

Among individual stocks, a volume spike of more than 700 percent was seen in Indian Energy Exchange, Grasim Industries and Hindustan Copper.

IndexPricesChangeChange%
Sensex82,500.82328.72 +0.40%
Nifty 5025,285.35103.55 +0.41%
Nifty Bank56,609.75417.70 +0.74%
Nifty 50 25,285.35 103.55 (0.41%)
Fri, Oct 10, 2025
Biggest GainerPricesChangeChange%
Cipla1,561.8048.70 +3.22%
Biggest LoserPricesChangeChange%
Tata Steel173.86-2.56 -1.45%
Best SectorPricesChangeChange%
Nifty PSU Bank7695.80126.50 +1.67%
Worst SectorPricesChangeChange%
Nifty Metal10261.55-94.65 -0.91%

Titagarh Rail Systems, Wonderla Holidays, Tata Motors, Texmaco Rail & Engineering, RPP Infra Projects, Mahindra & Mahindra Financial Services, JSW Steel, Hindustan Oil Exploration, APL Apollo Tubes, HCL Technologies and among the stocks which touched their 52-week high on the BSE.

Outlook for June 21

Ajit Mishra, SVP - Technical Research, Religare Broking

Markets settled higher in a volatile trading session, in continuation of the prevailing trend. Initially, weakness in the Asian markets was weighing on the sentiment however gradual recovery in select heavyweights not only pared all the losses but also pushed the index higher. Consequently, Nifty settled around the day’s high at 18,816.70 levels. Among the sectoral pack, financials, IT and auto posted decent gains while defensive viz. pharma and FMCG traded subdued. Amid all, the broader indices managed to gain nearly half a percent each.

Nifty has respected the trend line support around 18,660 levels and witnessed a steady rebound. This move shows that bulls are in control and the tone would remain positive till it holds 18,550. Traders should align their positions accordingly but suggest keeping a check on the size of positions citing intermediate choppiness.

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

While most of the Asian markets ended laggards, last-hour buying in IT, metal, banking and power stocks helped Sensex regain the 63000 level in a trading session marked with sharp intra-day volatility. It will not be a smooth one-way rally, with intermittent hiccups such as interest rate uncertainty, global economic slowdown and inflation woes likely to play spoilsport in the near to medium term.

Technically, the Nifty took support near 18650 and bounced back sharply. On intraday charts, the index has formed a double bottom formation which is indicating the continuation of an uptrend formation in the near future.

For the day traders, 18750 would be the trend decider level. Above the same, the index could rally till 18900-18925. Below 18750, the selling pressure is likely to accelerate and the index could retest the level of 18650-18620.

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 20, 2023 03:46 pm

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