Share Market Highlights: Sensex ends with gains at 52,574, Nifty above 15,700; NTPC, Titan, SBI top gainers

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Updated: June 21, 2021 4:17:54 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity markets closed a volatile trading session in the green. Broader markets surge.

Share Market Today, Share Market LiveIndia VIX was up 5%(Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity markets rebounded from the lows to close Monday’s trading session in green. S&P BSE Sensex gained 230 points during the day to end at 52,574 while the 50-stock NSE Nifty index jumped 63 points and closed at 15,746. NTPC, Titan Company, and State Bank of India closed as the top index performers while Tech Mahindra, Maruti, and TCS were the worst performers. Broader markets outperformed benchmark indices. India VIX ended flat.

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Highlights

    16:15 (IST)21 Jun 2021
    Sensex rebounds 834 pts from lows, Nifty ends at 15,765; here's what experts make of today's trade

    Domestic equity markets rebounded sharply from the lows on Monday to end the day’s trade in the green. S&P BSE Sensex jumped 834 points from the day’s low to close at 52,574 while the 50-stock NSE Nifty index closed just shy of the intra-day high of 15,765. Among the index gainers were NTPC, Titan Company, and State Bank of India. The worst-performing stocks were Maruti, Tech Mahindra, and TCS. Broader markets outperformed benchmark indices. Smallcap and midcap indices continued to rally, with Nifty Midcap 50 closing 1% higher and smallcap 50 up 0.6%. Nifty Auto and Nifty IT were the only sectoral indices on NSE to end with losses. Bank Nifty ended with gains. PSU Bank index surged more than 4%.

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    15:50 (IST)21 Jun 2021
    Nifty support at 15,600 and 15,450, Bank Nifty gearing up for major move; Glenmark Pharma, Tata Power in focus

    The outlook for Nifty remains positive from the short term perspective till the time the support levels are not breached on the downside. The levels of 15,600 and 15,450 are short-term supports. These support levels can be used as a strict stop loss for existing long positions. On the higher side, immediate resistance for Nifty is at 15,800 levels and the next major resistance zone is at 16,000-100 levels. 

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    15:35 (IST)21 Jun 2021
    CLOSING BELL

    Sensex and Nifty closed with gains on Monday. The benchmark indices made their way from deep in red to surge 0.40% higher, each.

    15:23 (IST)21 Jun 2021
    India VIX continues to drop

    India VIX continued to drop and was now trading flat with some positive bias. 

    15:14 (IST)21 Jun 2021
    Bank stocks reverse losses

    All Banking and finance sector stocks on Sensex were trading in the green with minutes left before the closing bell. Earlier in the day, bank stocks were among the worst performers on the index. 

    15:05 (IST)21 Jun 2021
    Rakesh Jhunjhunwala owned Titan soars

    Rakesh Jhunjhunwala's favourite stock Titan, was up among the top gainers on Sensex. The stock jumped 1.87% to sit at Rs 1,740 apiece ahead of the closing bell. 

    15:03 (IST)21 Jun 2021
    Second COVID-19 wave: Here’s how NHAI, contractors made workers stay back

    In a bid to ensure that workers had a strong reason to stay back despite COVID-19 challengers, contractors working on National Highways Authority of India (NHAI) projects worked overtime. Towards the end of April, around 5,000 highway construction workers were down with novel coronavirus, as per official data. Now, that number of workers has been brought down to around 2,000 across all 480 projects of the NHAI that involve highway construction of 25,000 kilometres at over Rs 5 lakh crore, according to an IE report. Early April, officials and contractors consciously drove home the message that workers, in the ongoing pandemic, are much better off, and safer, staying in their work site camps than heading to their villages.

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    14:56 (IST)21 Jun 2021
    Nifty PSU Bank index skyrockets

    Nifty PSU Bank index soared 4.28% on Monday after having started the day in the red. J&K Bank was up 20%, while Central Bank of India and Indian Overseas Bank were up 19.8% each.

    14:49 (IST)21 Jun 2021
    India VIX continues to trim gains

    India VIX, the volatility gauge, was up 2.99%, down from its intra-day highs. The fear gauge of domestic markets was up at 16.64 during the opening hours.

    14:28 (IST)21 Jun 2021
    Apple, Amazon, Netflix, Microsoft shares beat NASDAQ last week; Facebook, Google fall behind

    With the US Federal Reserve clamping down on Wall Street’s rally with a faster-than-anticipated revision in rates, S&P 500, Dow Jones, and NASDAQ closed with losses last week. The NASDAQ, however, suffered the least when compared to its peers, helped by some big-name tech stocks. Apple, Amazon, Netflix, and Microsoft were all in the green on a weekly basis at the closing bell on Friday, while Facebook and Good closed with marginal losses. A recent survey by Bank of America showed that fund managers were again lapping up shares of technology companies despite high valuations. 

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    14:12 (IST)21 Jun 2021
    If Nifty breaches 15750, it may reach the level of 15950-15980

    The market opened with a gap down following the global cues and again took the support near 15500. The market is aligned to trade in the range of 15500-15750 in the following trading days. If the market breached the level of 15750, we expect the market to reach the level of 15950-15980. On the sectoral front a few sectors all the major sectors, except realty and FMCG, have been trading in the red. NTPC and Adani Ports are the top gainers while UPL and Tata Motors are the top losers on Nifty. Likhita Chepa, Senior Research Analyst, CapitalVia Global Research

    14:00 (IST)21 Jun 2021
    Interesting to see how mid-sized banks, NBFCs tackle re-opening of economy

    Indian markets trade on a softer note given the uptick in volatility across our global peers. However, we are outperforming our Asian peers with Japan off -3% and Hongkong digging deeper into the week-long correction. It is too early to read into the weakness just yet. With the FED indicating its potential inclination to increase interest rates sometime in 2023, this new information needs to be digested by the market. The recent surge in volatility is just the market's way of pricing in this new piece of information. Our systems and protocols have not picked up anything alarming by way of market activity or trade flow yet. On the domestic front, it will be interesting to see how mid-sized banks and NBFCs tackle the re-opening of the economy, there are opportunities and risks alike. Harsh Agarwal, Co-founder, RAIN Technologies

    13:39 (IST)21 Jun 2021
    India Pesticides IPO: Strong fundamentals, R&D capabilities, reasonable valuations; should you subscribe?

    India Pesticides’ Rs 800-crore IPO will open for subscription on Wednesday, June 23, 2021, in the price band of  Rs 290-296 per share of the face value of Re 1, each. The company is among the fastest-growing agrochemical manufacturers in terms of volume of Technicals manufactured. The company’s business verticals include Technicals, Formulations and APIs. Currently, the company manufactures eight Technicals, two APIs and over 30 Formulations. Considering the FY21 adjusted EPS of 11.68 on a post-issue basis, the company is going to list at PE of 25.34 with a market cap of Rs 3,408.8 crore whereas its peers namely Dhanuka Agritech, UPL Ltd, Rallis India and PI Industries are trading at a P/E of 21.4, 20.4, 31.5, 58.6 respectively, analysts said. 

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    13:28 (IST)21 Jun 2021
    Bank Nifty turns green

    Bank Nifty turned positive after having opened deep in the red. The index was up 0.22%, helped by a 6% jump in Bandhan Bank, and more than 1% jump in AU Small Finance Bank, RBL Bank, and PNB.

    13:25 (IST)21 Jun 2021
    Dancing between gains and losses

    Sensex and Nifty are dancing between gains and losses at this hour. The benchmark indices have moved higher after opening deep in the red. 

    13:22 (IST)21 Jun 2021
    Back in green

    Sensex turned green, giving up all opening losses. Nifty was nearing the 15,700 mark.

    13:17 (IST)21 Jun 2021
    Sensex, Nifty trade flat

    Sensex and Nifty trimmed almost all losses and began trading with minor gains. Nifty was above 15,650.

    13:15 (IST)21 Jun 2021
    Fall in line with global markets

    "The slide in the Indian market is in line with the global markets, which were impacted by the US Fed’s signal of faster than earlier increase in interest rates. There is also uncertainty around the third wave of COVID pandemic. These appear to be short term blips. India is much better prepared for the third wave, if it happens, with vaccination drive gathering pace and increases in medical supplies. Wealso believe that the underlying structural trends remain quite positive for India. The GST collections have been more than INR 1 Lakh Crores for 8 months now. The monsoon is also expected to be at normal or above normal levels. Therefore, we believe that every dip in the indices should be considered as an investment opportunity," said Mohit Ralhan, Managing Partner and Chief Investment Officer, TIWPrivate Equity.

    12:16 (IST)21 Jun 2021
    Volatility index cuts gains

    The volatility index, India VIX, was up 7.4% at this hour, trimming its opening gains. The fear gauge of domestic share markets was sitting at 15.9 points.

    11:59 (IST)21 Jun 2021
    India Pesticides IPO update

    "Considering the FY21 adjusted EPS of 11.68 on a post-issue basis, the company is going to list at PE of 25.34 with a market cap of Rs. 34,088 million whereas its peers namely Dhanuka Agri, UPL Ltd., Rallis India and PI Industries are trading at a P/E of 21.4, 20.4, 31.5, 58.6 respectively. We recommend to “Subscribe” this IPO as the company is one of the fastest-growing agrochemical company in India with strong R&D capabilities and a diversified product portfolio. Also, the company is available at reasonable valuations as compared to its peers," said Marwadi Shares and Finance.

    11:37 (IST)21 Jun 2021
    Sensex rally not over yet, bull market still has steam; Morgan Stanley says India will beat other EMs

    Bulls may continue to dominate India’s share markets for the next 12 months, albeit at a slower pace of gains, said global brokerage and research firm Morgan Stanley. The current bull market, which started since the bottom made in the last week of March 2020, is believed to have more legs when compared to previous such rallies. “There is return dispersion across bull markets making the average return less meaningful. This one is up 106% -- the historical average is 284%. While we see further upside in the immediate 12 months, the pace of gain may slow,” Morgan Stanley said in a report. Sensex and Nifty have doubled since the March 2020 fall and have set fresh all-time highs.

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    11:00 (IST)21 Jun 2021
    Dodla Dairy IPO: Check share allotment status online, grey market premium; shares to list on June 28

    Dodla Dairy’s Rs 520-crore IPO, which was subscribed 45.61 times, is likely to announce IPO share allotment on Wednesday, June 23, 2021. In the grey market on Monday, Dodla Dairy shares were quoting at a premium of Rs 85 over the issue price of Rs 428 per share. The shares were trading at Rs 513 apiece, implying a premium of 20 per cent over the IPO price, according to the people who deal in shares of unlisted companies. Dodla Dairy will make its stock market debut on June 28, 2021. 

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    10:41 (IST)21 Jun 2021
    Sensex, Nifty trims losses

    Sensex and Nifty continue to trim losses after opening deep in the red on Monday morning. Nifty has regained 15,600.

    10:10 (IST)21 Jun 2021
    Look for safety in strong performing large-caps

    "The Fed's latest statement, though only mildly hawkish, appears to be impacting global stock markets more seriously than thought earlier. Market volatility has spiked and more volatility is in the offing. When valuations are high, corrections can be sharp. The strengthening dollar ( Dollar Index has spiked to 92.29) is a clear emerging market negative. A lot will depend on what FIIs will do in the coming days. Also, retail investment activity has to be watched. If there is a sharp correction in the market, the mid-small caps are likely to be impacted more. There is safety in strong performing large-caps. This is the time for safety and caution," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. 

    09:58 (IST)21 Jun 2021
    It is good to remain buyer on every dips in rupee; one can go slow in selling

    With global stocks pulling back from a record high, weaker opening in domestic equities shall be seen as well. However, with many upcoming IPO’s and QIP’s due in the current month, the USDINR pair shall remain under pressure to witness any reversal on account of foreign equity inflows that India has seen since the past months. Technically, for rupee 74.50 levels will act as an important resistance to watch for. On flip side, the pair shall find its near term support near 73.80 levels. If the pair breaks and consistently trades above 74.50 levels, then rupee is most likely to move near 75.20-75.50 levels in the near to medium term. However, any aggressive selling pressure can push rupee back to 73.50-73.80 zone. As the primary trend for rupee is on a weaker side, it is good to remain buyer on every dips and one can go slow in selling. Amit Pabari, managing director, CR Forex Advisors

    09:51 (IST)21 Jun 2021
    Nifty support at 15,450

    "Nifty finds support around 15,450 while 15,850 will act as resistance on the upside. Bank Nifty finds support around 34,250 while 35,000 will act as resistance," said IIFL Securities. 

    09:49 (IST)21 Jun 2021
    Risk aversion in markets

    "Fed's Bullard has become more hawkish than Fed itself and that has resulted in the risk aversion that is seen in the markets. The rupee may open at 74.25 where RBI sold on Friday and brought the dollar down to 73.82 before settling at 73.90. Today's range could be 73.80 to 74.40 with exporters selling at 74.40 and importers buying near 73.80/90 if they get it or else they may wait for better levels to buy," said  Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.

    09:36 (IST)21 Jun 2021
    Gold turns choppy post recent sell-off

    COMEX gold trades modestly higher near $1775/oz after a 0.3% decline on Friday. Gold inched up amid choppiness in the US dollar and drop in US bond yields to March lows. ETF inflows also show buying interest in the metal. However, weighing on price is the Fed's projection of early rate hikes. Gold has turned choppy after the recent sell-off however general bias may be on the downside unless the US dollar corrects sharply. Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities

    09:22 (IST)21 Jun 2021
    Recouping some losses

    Sensex and Nifty were recovering some early losses after the initial minutes of trade. Sensex was now down more than 450 points while Nifty neared 15,550.

    09:20 (IST)21 Jun 2021
    Bank Nifty down 1.7%

    Bank Nifty was down 1.7% on Monday morning. SBI, IndusInd Bank, RBL Bank, and Axis Bank were the worst performers on the index. Nifty PSU Bank and NIfty Private Bank index were also in the red. 

    09:19 (IST)21 Jun 2021
    Bank stocks drag

    State Bank of India, IndusInd Bank were the top laggards on Sensex on the opening bell. ICICI Bank, Kotak Mahindra Bank, Axis Bank, and HDFC Bank were all in the red. 

    09:17 (IST)21 Jun 2021
    OPENING BELL

    Sensex began the day's trade down 500 points at 51,887 with only one of the thirty index constituents trading in the green. Nifty 50 was nearing 15,500.

    09:12 (IST)21 Jun 2021
    Nifty may hit 16,100, if it crosses 15,750; Bank Nifty remains in uptrend; Infosys, Asian Paints in focus

    The chart pattern suggests that if Nifty crosses and sustains above 15750 level it would witness buying which would lead the index towards 15900-16100 levels. However if index breaks below 15600 level it would witness selling which would take the index towards 15500-15400. Nifty is trading above its 20 day SMA which indicates positive bias in the short term. Nifty continues to remain in an uptrend in the medium and long term, so buying on dips continues to be our preferred strategy.

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    09:11 (IST)21 Jun 2021
    Nifty to consolidate in 15,900-15,400 range in F&O expiry week, Bank Nifty positive; RIL, Infosys top bets

    In the expiry week, we expect index to consolidate in the broader range of 15900-15400 amid stock specific action. The ongoing healthy consolidation would help index to cool off the overbought conditions and form a higher base. The broader structure remain bullish thereby we reiterate our positive stance of Nifty heading towards earmarked target of 16100. However, bouts of volatility from here on cannot be ruled out which would offers incremental buying opportunity in the range of 15300-15500.

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    09:06 (IST)21 Jun 2021
    Sensex dives deep into red

    Sensex dived 400 points during the pre-open session while the 50-stock NSE Nifty was down nearly 150 points.

    09:03 (IST)21 Jun 2021
    Pre-open takes Sensex, Nifty lower

    Sensex and Nifty were down in the red on Monday morning, ahead of the opening bell. The pre-open session saw Sensex fall more than 200 points while Nifty slipped over 100 points.

    08:52 (IST)21 Jun 2021
    Markets likely to remain in range

    "Markets are likely to spend some more time in a range and we expect volatility to remain high due to the scheduled derivatives expiry of June month contracts. With no major event, participants will be closely eyeing the global markets for cues. Besides, the progress of the monsoon and updates on the vaccination drive will also be in focus. On the benchmark front, Nifty has critical support at 15,400, followed by 15,200. In case of a rebound, it would find resistance around 15,850-16,000 zone. Among the sectors, defensive viz. FMCG and IT are likely to maintain their prevailing positive bias while metals and PSU banks may continue to trade lackluster and drift further lower. We advise traders to align their positions accordingly," said Ajit Mishra, VP Research. Religare Broking.

    08:48 (IST)21 Jun 2021
    Sustainability above 15600 crucial in settlement week

    The Nifty lost less than 1% last week after gains of four consecutive weeks amid some profit booking in the midcap and small cap space. The midcap and small cap indices lost 2% and 3%, respectively, during the week. Apart from FMCG and technology stocks, rest of the sectors ended the week in the red where high beta stocks from metals and realty space witnessed significant pressure. On the options front, the highest option concentration is placed at 15800 Call and 15500 Put strikes. The Call OI base is close to 48 lakh shares, which should act as immediate hurdle for the Nifty during the week. Similarly, Put base at 15500 and 15600 strike is almost equal. We believe a fresh move below 15600 may result in extended profit booking towards 15200 in the settlement week.

    ~ ICICI Direct

    08:47 (IST)21 Jun 2021
    Petrol and diesel price today 21 June 2021: fuel rates unchanged; check prices in Delhi, Mumbai, Pune, here

    Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel were left unchanged on Monday by oil marketing companies. Petrol price in Delhi today stands at Rs 97.22 per litre, and diesel in the capital city is retailing at Rs 87.97 per litre today. Rates have been hiked 27 times since May 4. The price of petrol in Delhi has increased by Rs 6.53, while diesel price has surged Rs 6.92 per litre since the rate revision began. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.

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    08:40 (IST)21 Jun 2021
    SGX Nifty dives further

    Nifty futures on Singapore Exchange were down more than 200 points before the opening bell. 

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