Market Highlights: Sensex ends flat with positive bias, Nifty closes at 15,772; RIL, bank stocks among laggards

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Updated: June 22, 2021 4:31:12 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic markets gave up most intra-day gains during the dying hours of the day and closed flat.

Share Market Today, Share Market LiveSGX Nifty was down in the red. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic stock markets began the day at or near all-time highs, but witnessed turbulence during the dying hours of trade. S&P BSE Sensex closed flat with a positive bias at 52,588 while the Nifty 50 index closed at 15,772. Maruti Suzuki India was the top gainer on Sensex, jumping more than 5%, followed by Ultratech Cement, Larsen & Toubro, and TCS. Reliance Industries along with banking and finance sectors stocks were among the laggards on the index. Broader markets, excluding Nifty Midcap 50 closed with gains on Tuesday. India VIX, the volatility index closed 2% lower.

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    16:29 (IST)22 Jun 2021
    Sensex fails to hold fresh all-time highs, ends flat, Nifty follows; are bears knocking D-St's door?

    Sensex and Nifty closed flat with marginal gains on Tuesday, after witnessing a volatile trading session that saw benchmark indices reach all-time highs and even trade in the red. S&P BSE Sensex closed 14 points higher 52,588 while the Nifty 50 index closed at 15,772. Maruti Suzuki India was the top gainer on Sensex, jumping more than 5%, followed by Ultratech Cement, Larsen & Toubro, and TCS. Reliance Industries along with banking and finance sectors stocks were among the laggards on the index. India VIX, the volatility index closed 2% lower. Bank Nifty ended in the red.

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    15:34 (IST)22 Jun 2021

    Sensex and Nifty slipped during the closing hour of trade and ended the day flat with a positive bias. Bank stocks along with Reliance Industries were among the laggards. 

    15:10 (IST)22 Jun 2021
    Bank Nifty down

    Bank Nifty moved 0.28% down as stock markets turned sides with minutes left before the closing bell. 

    15:08 (IST)22 Jun 2021
    Nifty Midcap 50 turns red

    The Nifty Midcap 50 index turned red with minutes left ahead of the closing bell. The index was cruising with gains earlier in the day. 

    15:07 (IST)22 Jun 2021
    Sensex, Nifty trade flat ahead of closing bell

    Benchmark indices were trading flat with marginal gains ahead of the closing bell on Tuesday. Earlier in the day, Sensex had surged over 300 points to set fresh all-time highs.

    15:00 (IST)22 Jun 2021
    Heavyweights in red

    Index heavyweights such as Reliance Industries and HDFC Bank along with Kotak Mahindra Bank and IndusInd Bank sitting in the red with minutes left before the closing bell. 

    14:52 (IST)22 Jun 2021
    India Pesticides IPO review

    India Pesticides has reported strong growth in topline and bottom-line over the last three years, even as the agrochemicals industry witnessed good tailwinds. The tailwinds include India’s prominent rank (4th globally) in agro-chemicals production, and huge rise in demand due to growing population.

    At the higher end of the price band, India Pesticides is attractively priced at 25 times FY21 earnings. Peers including Rallis India (33 times), PI Industries (79 times), Sumitomo (79 times) are trading at much higher valuations. The company also ranks better than these peers in terms of return ratios. Given factors such as healthy topline and bottomline growth, robust outlook due to industry tailwinds, strong margins, good return ratios and attractive valuations, we remain positive on the prospects of the issue.

    ~ INDmoney

    14:49 (IST)22 Jun 2021
    Broader markets trim gains

    Broader markets were moving lower from the highs on Tuesday. The Nifty 500 index was still up 0.61%, Nifty midcap 50 was up 0.32%, and the Nifty smallcap 50 was up 0.7%.

    14:43 (IST)22 Jun 2021
    India Pesticides IPO opens June 23: Should you subscribe? Here’s what top brokerages have to say

    India Pesticides’ Rs 800-crore IPO is scheduled to open for subscription Wednesday, June 23, 2021. The issue will close on 25 June. The company has fixed the price band of the issue at Rs 290-296 per share. The public issue comprises fresh issue of shares worth Rs 100 crore and offer-for-sale (OFS) of Rs 700 crore by existing promoter selling shareholders. Up to 50 per cent of the net offer has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors (NIIs).

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    14:18 (IST)22 Jun 2021
    Sensex, Nifty trim gains further

    Sensex and Nifty were down from their intra-day highs with little over an hour left in today's trading session. However, the indices were still comfortably in the green. 

    14:17 (IST)22 Jun 2021
    Indian companies’ fast m-cap growth a risk to financial stability: SBI research

    The economists at the country's largest lender attributed the growth in equity markets to lower returns on other financial instruments amid a low rates regime, increase in global liquidity, and even a tendency to spend more time at home because of mobility restrictions which led many to trade more.

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    13:44 (IST)22 Jun 2021
    Nifty to remain in positive territory, trade till 16,050 in upcoming sessions

    In Tuesday's morning trades, domestic equity bourses set new highs and were trading nearly 1% higher than their Asian counterparts. Traders were encouraged by a Ficci poll that found that with states lifting lockdown restrictions due to a drop in COVID-19 cases, there are immediate signs of improved economic activity, with enterprises anticipating better results in the next 6 to 12 months. Investors surged back to oil and other sectors projected to outperform as the economy recovers from the pandemic on Monday, with the Dow completing its highest session in over three months. Asian markets were trading in the green following the positive sentiments in the global markets. The market opened with a gap up following the global cues and further shown positivity in the market. Indices faced resistance at 15900. We can expect the market to remain in the positive territory and trade till the level of 16050 in the following trading sessions. On the sectoral front all sectors have been trading in green. Maruti and UPL are the top gainers while Nestle and Cipla are the top losers on Nifty. Likhita Chepa, Senior Research Analyst, CapitalVia Global Research

    13:26 (IST)22 Jun 2021
    Mukesh Ambani's next growth engine: Retail to drive RIL's growth now; share price may gain 7% more

    The retail unit of Reliance Industries Ltd (RIL) could be the next engine of growth for the oil-to-telecom conglomerate, according to global brokerage and research firm Goldman Sachs. In a report this week, analysts at Goldman Sachs said that the retail EBITDA could grow 10x over the next 10 years. “During the macro downturn, RIL has focused on building strong digital capabilities and we believe the scale-up in omnichannel offering is driving sizeable market share wins. We see a six-fold increase in grocery organized retail penetration in India by FY30, coupled with 15% market share gain for RIL,” the report added. Mukesh Ambani’s RIL currently holds a 41.5% market share in organised retail space.

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    13:01 (IST)22 Jun 2021
    Focus on stock-specific momentum

    "Many of the beaten-down stocks during last week recovered from the lows which led to a positive market breadth. The banking space too saw some interest yesterday after the recent underperformance. Now, the support base is around 15500-15450 range while 15800 and 15880 are the immediate resistances. Going ahead, it would be crucial to see the follow up moves in both Nifty as well as Bank Nifty in the next couple of sessions which could lead to the short term direction. Traders are advised to focus on stock-specific momentum and avoid aggressive overnight positions," said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking.

    12:39 (IST)22 Jun 2021
    Sectoral watch

    All sectoral gauges on NSE, except Nifty FMCG were up with gains on Tuesday as bulls continued to dominate market momentum.

    12:35 (IST)22 Jun 2021
    Nifty PSU Bank soars 2.5%; Central Bank of India, IOB share prices hit new 52-week highs on privatisation buzz

    Central Bank of India, Indian Overseas Bank share prices hit fresh 52-week high on BSE in intraday deals amid reports that government might privatise these two lenders. In two days, Central Bank of India stock has surged 42.21 per cent, while IOB stock has soared 43.33 per cent from yesterday’s opening level.

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    11:16 (IST)22 Jun 2021
    Rakesh Jhunjhunwala bets big on bank shares, even ‘inefficient’ lenders; 'bull run to last for decades'

    Ace investors Rakesh Jhunjhunwala expects the demand of money to increase in the coming years as India’s economy picks up steam, making him extremely bullish on the banking sector, including the “so-called inefficient banks”. “I’m extremely bullish on banks and extremely bullish on the so-called inefficient banks,” Rakesh Jhunjhunwala said in an interview with CNBC TV18. The big bull reiterated his views on what he expects to be a bull run lasting decades, saying that equities have the potential to help investors pocket massive returns over the coming years.

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    11:03 (IST)22 Jun 2021
    Maruti Suzuki share price jumps 4%

    Maruti Suzuki India's share price soared more than 4% on Tuesday morning, becoming the top Sensex gainer. The stock soared after the company announced it will increase the prices of its vehicles soon.

    11:01 (IST)22 Jun 2021
    India VIX falls

    India VIX is down 3.4% on Tuesday morning, nearing 14.55 levels.

    11:00 (IST)22 Jun 2021
    15,400 to act as support

    "Yesterday the Nifty closed above 15700 which blocked the avenue for the markets to be weak in the short term. We have resumed the uptrend and can target 16000-16100 as the next level for the index. Keeping 15400 as a support for the market, a buy on dips approach will be appropriate to adopt in this market," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

    10:55 (IST)22 Jun 2021
    KIMS IPO: Check share allotment status online, grey market premium; KIMS shares to list on June 28

    The share allotment for Krishna Institute of Medical Sciences’ Rs 2,144-crore IPO, which was subscribed nearly 4 times, is expected to be announced on Wednesday, June 23, 2021. In the grey market on Monday, KIMS shares were commanding a premium of Rs 48 over the issue price of Rs 825 per share. The shares were trading at Rs 873 apiece, implying a premium of nearly 6 per cent over the IPO price, according to the people who deal in shares of unlisted companies. Krishna Institute of Medical Sciences shares will list on stock exchanges on June 28, 2021.

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    09:52 (IST)22 Jun 2021
    'Buy on dips market' strongly favouring buyers

    "Market moods are swinging wildly each day. After the 5-day losing streak, the Dow rebounded sharply yesterday with a gain of  586  points indicating the return of the bulls. In India, for some time now, this has been a 'buy on dips market' strongly favouring buyers. But at high valuations, the risk-reward ratio is slowly turning unfavourable to buyers. The market might be discounting a sharp recovery in corporate earnings expected this year. Also, the expansionary cycle of growth & earnings might gather momentum, going forward. Stay invested in high-quality large caps but be selective & cautious in mid-small caps. Brent crude at $ 75 is a macro concern for India while softening dollar index is emerging market positive," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. 

    09:39 (IST)22 Jun 2021
    Rupee may consolidate in 73.50-74.50 range against US dollar in short term

    For the day, the Indian Rupee will take cues from upbeat domestic equities on FII and QIP flows, correction in the US dollar index and optimistic domestic sentiment. Further, it is expected to trade in the range of 73.90-74.30. On the domestic front, the indices were seen strongly rebounding from lows over the last two days as buying emerged on every dip. The receding higher COVID cases, reopening of the economy along with highest ever jabs above 80 lacs under new vaccine policy which started yesterday on Yoga day sets optimistic sentiment across the domestic financial market. Along with FII inflows, Indian Bank QIP worth INR 4,000 crore could be in favor of Rupee. However, RBI and oil importer’s bid on every dip will not allow the USDINR pair to break 73.50-70 zone easily. Under this state, we expect that the pair to consolidate in the range of 73.50-74.50 over the short term before any triggers open the doors towards 75.20-75.50 levels. Amit Pabari, managing director, CR Forex Advisors

    09:35 (IST)22 Jun 2021
    Gold Price Today, 22 June 2021: Gold up for 2nd day after falling 4% last week; may hit Rs 48,000 next week

    Gold prices in India gained for the second consecutive day on Tuesday, on the back of positive global trends where a pullback in the dollar lifted demand for the safe-haven metal.On Multi Commodity Exchange, gold August futures were trading Rs 97 or 0.21 per cent up Rs 47,171 per 10 gram, over the previous close of Rs 47,074 per 10 gram. Silver July futures were trading flat at Rs 67,722 per kg. In the previous week, MCX gold fell 4.3 per cent and in COMEX it declined over 5.5 per cent.

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    09:26 (IST)22 Jun 2021
    Bank Nifty soars

    Bank Nifty was up 0.86% on Tuesday morning as Sensex and Nifty surged higher. 

    09:17 (IST)22 Jun 2021

    Sensex began the day's trade at fresh all-time high of 52,901 while Nifty 50 neared the 15,850 mark. ONGC, Maruti, and Bharti Airtel were the top gainers.

    09:07 (IST)22 Jun 2021
    Sensex near record highs

    Sensex may open close to its all-time high of 52,869 on Tuesday morning. Nifty 50 was also close to its all-time highs.

    09:04 (IST)22 Jun 2021
    Benchmark indices to open in green

    "Benchmark Indices are expected to open on a positive note as trends on SGX nifty indicates a gap up opening with 81 points gain. US Markets rallied on Monday, with the Dow completing its strongest session in over three months. Fed officials said that faster withdrawal from the central bank’s bond purchase program could keep options open on rate hike. SBI gets central board’s nod to raise Rs.14,000 crore via Basel-III complaint Boards. Key companies announcing their quarterly results today include Bharat Electronics, Max India, Sobha and Religare Enterprises. Immediate support and resistance for Nifty 50 are 15,500 and 15,900 respectively. We expect the markets to be volatile for a few more sessions but with limited downside," said Mohit Nigam, Head, PMS - Hem Securities.

    09:03 (IST)22 Jun 2021
    Sensex, Nifty gain

    Sensex and Nifty neared all-time highs during the pre-open session as domestic stock markets signalled at a strong opening on Tuesday. 

    08:56 (IST)22 Jun 2021
    SGX Nifty up 80 pts, Sensex, Nifty set to open higher; key things to know before market opens

    Chartists say that the short term trend of Nifty 50 has turned up after a dramatic fall and a swift upside bounce of the last two sessions. “A sustainable move above 15800 levels is likely to pull the market into new all-time highs in the next few sessions. Any weakness could find support around 15650-15600 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities

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    08:43 (IST)22 Jun 2021
    Nifty outlook for the day

    "Nifty finds support around 15,606 while 15,900 will act as resistance on the upside. Bank Nifty finds support around 34,250 while 35,200 will act as resistance," said IIFL Securities.

    08:32 (IST)22 Jun 2021
    Petrol and diesel price today 22 June 2021: fuel rates hiked again; check prices in Delhi, Mumbai, Pune, here

    Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The price of Petrol and Diesel was increased once again on Tuesday, pushing rates to record highs. Petrol price in Delhi today stands at Rs 97.50 per litre, an increase of 28 paise since yesterday. Diesel in the capital city is retailing at Rs 88.23 per litre today, up 26 paise since the last rate revision. Fuel prices have been hiked 28 times since May 4. The price of petrol in Delhi has increased by Rs 6.81, while diesel price has surged Rs 7.18 per litre since the rates started increasing. 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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    08:30 (IST)22 Jun 2021
    RIL, Bharti Airtel, TCS, Wipro, SBI, PNB Housing, Bharat Electronics, Jaypee Infratech stocks in focus

    BSE-listed companies such as NMDCAshapura MinechemAster DM Healthcare, Bharat Electronics, BL Kashyap and Sons, Gandhi Special TubesGE Power India, ITI, Jaypee Infratech, Max IndiaOmax AutosPeninsula LandPNB GiltsReligare Enterprises, and Sobha, are scheduled to announce their January-March quarter earnings on June 22.

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    08:16 (IST)22 Jun 2021
    SGX Nifty soars further

    SGX Nifty surged higher as we moved closer to the opening bell. The index was up 80 points and gaining. 

    08:15 (IST)22 Jun 2021
    Buying interest on every dip clearly shows market mood

    "We’re seeing consolidation in the index on the expected lines however the buying interest on every dip clearly shows the market mood. We reiterate our advice to utilise intermediate correction to go long in quality counters until we see some sign of trend reversal. Having said that, it’s not easy to identify performers at the record high and the risk of false breakout is also there. We thus recommend limiting the naked leveraged bets and maintaining strict risk management rules," said Ajit Mishra, VP - Research, Religare Broking.

    08:06 (IST)22 Jun 2021
    15,770 - 15,812 to act as resistance for Nifty

    "Nifty showed another spectacular recovery from the opening lows after a similar show on Friday. Lack of large volumes on such days reflect that only fringe players are getting panicky and action otherwise keeps rotating among stocks -- both large and midcaps. While rising however indices may be slow in the absence of positive triggers.  Nifty seems to have made a  minor bottom in the 15451-15505 band.  On rises 15770-15812 could be the resistance in the near term," said Deepak Jasani, Head of Retail Research, HDFC Securities.

    08:05 (IST)22 Jun 2021
    PNB Housing Finance shares

    After having surged higher between the last week of May and the first week of June, PNB Housing Finance shares have dropped 20%.

    08:00 (IST)22 Jun 2021
    SGX Nifty moved higher

    Nifty futures on Singapore Exchange were up 64 points during the early hours of trade on Tuesday. With SGX Nifty inching higher, domestic markets might open in the positive territory.

    07:59 (IST)22 Jun 2021
    Hassle-free investing: Don’t try to beat Sensex, Nifty; matching index returns is good enough | INTERVIEW

    India’s capital markets have seen a massive influx of new investors, along with the stellar share market rally after the coronavirus pandemic last year. With it, the popularity of passive investing, through index funds and ETFs, has gained momentum. Nippon Life India Asset Management, one of the veterans in passive investing, has 22 ETFs with assets under management worth Rs 40,000 crore. Vishal Jain, Head-ETF, Nippon Life India Asset Management, tells Shaleen Agrawal of FE Online how retail investors must build a hassle-free passive investment portfolio.

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    07:59 (IST)22 Jun 2021
    Share issue: SAT nod to PNB Housing Finance EGM

    The EGM will see shareholders vote on the mortgage player’s Rs 4,000-crore preferential share allotment to private equity player Carlyle and others, including General Atlantic and former HDFC Bank MD&CEO Aditya Puri’s family investment vehicle. The shares are to be priced at Rs 390 apiece.

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