Sensex Today: Stock Market LIVE Updates: Banks, IT stocks drive Sensex 900 points higher; Nifty tops 15,600; Titan jumps 5%; VIX eases 4%
Sensex Today LIVE Updates: Indian shares rose on Tuesday, lifted by gains in metal, technology and automaker stocks, although concerns lingered about a hit to growth from aggressive central bank rate hikes. The blue-chip indexes are set for a second straight session of gains after suffering heavy losses last week on fears that aggressive rate hikes around the globe to curb inflation could lead to a recession. The Nifty Metal index was among the best performing sub-indexes, rising as much as 2.3% after plumbing 14-month lows in the previous session. Tech stocks rose 1.6%, while automakers advanced 1.2%.
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Zerodha users report intermittent connectivity issues on Kite
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Marksans Pharma recalls Kroger Br,and Aspirin (300 count bottles) and Ibuprofen (160 count bottles) due to label packaging issue to meet child resistant packaging requirement. Total 12 lots containing 209,430 units have been recalled.
Price as on 21 Jun, 2022 12:17 PM, Click on company names for their live prices.
JP Morgan on Vedanta
JP Morgan remains overweight on Vedanta with a target price of Rs 499, expecting a 115 per cent rise in the counter from its previous close of Rs 232.25. Vedanta has put its Tuticorin plant for sale lately after the backlash from locals over the violation of environmental norms. Following the update, shares of Vedanta plunged 12 per cent on Monday. However, JP Morgan believes that the sale of the copper smelter would be a blessing in disguise for the company. “LME aluminium prices are back to Q1FY22 levels, which is a big positive,” it said.
Market LIVE Updates: GE Steam Power on Tuesday said that it has inked a USD 165 million pact with state-run engineering firm BHEL to supply three nuclear steam turbines; BHEL stock up 3%
Price as on 21 Jun, 2022 11:44 AM, Click on company names for their live prices.
Sea of green… all Sensex stocks trade higher
JUST IN: Noida-based India Exposition Mart gets Sebi nod for IPO
Jhunjhunwala’s top 5 stock bets in bear grip! Here’s how much they lost
At last count, Jhunjhunwala held Rs 19,847 crore worth of these five shares, which was 75.20 per cent of his total stock portfolio of Rs 26,385 crore, data compiled by database AceEquity suggests.
STOCK IN FOCUS: GAIL
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What should investors do with Hindustan Copper, Minda Industries and Tata Power?
Stocks that were in focus included names like Hindustan Copper which fell more than 9 per cent, Minda Industries which fell more than a per cent, and Tata Power which closed with losses of over 7 per cent on Monday. Here’s what Jatin Gohil, Technical and Derivative Research Analyst at Reliance NSE 0.50 % Securities recommends investors should do with these stocks.
CLSA’s India Bull-Bear Index crashes to a 92% bearish investor sentiment reading
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Market LIVE Updates: Nifty nears 15,600
Suven, MRPL, GSFC among top gainers at this hour
Price as on 21 Jun, 2022 10:20 AM, Click on company names for their live prices.
Sensex LIVE Updates: Index extends gains, rises nearly 600 points
Suven Life Sciences to consider rights issue on June 24. The company informed exchanges that the board of directors will meet on June 24 to consider raising of funds through issue of shares on rights basis to existing shareholders of the company. Following this development, the stock rose 8%
Price as on 21 Jun, 2022 09:41 AM, Click on company names for their live prices.
State-owned Bank of India (BoI) is mulling to raise up to Rs 2,500 crore in fresh equity capital as it requires to increase the public shareholding in the bank to 25 per cent to comply with regulatory norms. Presently, public shareholding in Bank of India is 18.59 per cent.
Price as on 21 Jun, 2022 09:31 AM, Click on company names for their live prices.
Market View: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Meanwhile, the Finance ministry’s latest Monthly Economic Review warns about the stress in government’s finances caused by the rising food and fertiliser subsidies and revenue forgone from cuts in petrol and diesel taxes. Both fiscal and current account deficits are likely to deteriorate surpassing budget estimates. This macro headwind can turn out to be a headwind for markets too, particularly if crude remains at elevated levels. Investors should seek the safety of fundamentally strong large-caps during this phase of market turbulence.
Market LIVE Updates: Voda Idea, Future Consumer, Vedanta among most active stocks on NSE
Price as on 21 Jun, 2022 09:24 AM, Click on company names for their live prices.
All sectors trade in the green; Media pack jumps 2.5%
OPENING BELL: Sensex jumps 400 points, Nifty above 15,450; Vedanta, Hindalco rise 3% each
Asian shares open higher
Asian shares opened slightly higher Tuesday morning, extending the previous day’s gains, following a positive lead from Europe as some stability returned to markets after last week’s hefty losses. MSCI’s index of Asia-Pacific shares outside Japan was up by 0.81 per cent.
Q4 results today
Gammon India and Aroma Enterprises are among companies which will announce their quarterly earnings today.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 22.5 points, or 0.15 per cent, higher at 15,384.50, signaling that Dalal Street was headed for a positive start on Tuesday.
Tech View: Analysts see recovery ahead
Nifty50 on Monday snapped a six-day losing streak and formed an indecisive candle on the daily chart. The advance-decline ratio for the broader market remained skewed in favour of the bears, but analysts said certain technical parameters on Nifty50 are hinting at recovery ahead.
Oil rises on market caution over supply concerns
Oil prices rose 1% in early trade on Tuesday, clawing back more of last week’s losses as the focus returned to tight supply of crude and fuel products versus concerns about a recession hitting demand down the track. Brent crude futures rose $1.32, or 1.2%, to $115.45 a barrel at 0040 GMT, adding to a 0.9% gain on Monday. The benchmark contract fell 7.3% last week in its first weekly fall in five.
Tokyo shares open higher with eyes on Powell testimony
Tokyo shares opened higher Tuesday, as investors wait to hear Federal Reserve Chair Jerome Powell address the US Congress later this week. The benchmark Nikkei 225 index rose 1.07 percent or 275.88 points at 26,047.10 while the broader Topix index added 1.20 percent or 21.78 points at 1,840.72.
Rupee gains 7 paise to close at 77.98 against USD
Rising for the third straight session, the rupee appreciated by 7 paise to settle at 77.98 against the US dollar on Monday as crude oil prices retreated from elevated levels. However, unabated foreign fund outflows restricted the gains.
Sensex, Nifty on Monday
Benchmark indices finally managed to gain some lost ground on Monday after six consecutive days of fall as investors preferred to buy stocks at low levels though investors remained cautious throughout the session. Buying in FMCG and IT stocks pushed the Sensex 237.42 points higher to close at 51,597.84, while Nifty50 reclaimed the 15,350 mark.
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