Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices closed in the red, after opening in the positive territory on Friday. The market gave up its gains in early trade and ended near the day’s low. The NSE Nifty 50 tanked 66 points to 18,568 and BSE Sensex slipped 0.33% to 62,641. The broader indices closed in with cuts, Nifty Midcap 100 and Nifty Smallcap 100 settled 0.14% and 0.12% lower respectively. The sole winner was Nifty Microcap 250 that saw gains of 0.13%. Sectorally, Bank Nifty closed flat, down 0.01%, Nifty PSU Bank, Nifty FMCG, Nifty Media, Nifty Auto crashed up at 1.21%. The only sectoral gainers were Nifty Private Bank and Nifty Realty.
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"The domestic market witnessed extended selling pressure as investors eagerly awaited the domestic inflation data due on Monday as the RBI refrained from an aggressive cut in their inflation forecast. The market is hopeful that the CPI inflation for May will further moderate from its current level of 4.7%. In addition to the domestic factors, global cues also failed to provide support, as the US reported high unemployment claims ahead of the release of the inflation figures and the Fed meeting," said Vinod Nair, Head of Research at Geojit Financial Services.
IndusInd Bank, Axis Bank, Power Grid, Adani Enterprises and L&T were the top gainers on the Nifty 50 index. Hero MotoCorp, HDFC Life, Divi's Lab, Eicher Motors and Tata Steel were the top losers, with Hero MotoCorp falling 2.19%.
Despite a positive start, domestic indices experienced a close in the red on Friday. The NSE Nifty 50 dropped by 66 points to reach 18,568, while the BSE Sensex slipped by 0.33% to settle at 62,641, ending near the day's low.
"Most of the major sectors lost on a week-on week basis with BSE Power, BSE Auto, BSE Reality, BSE consumer discretionary, BSE Utilities, BSE FMCG and BSE IT losing the most. While key sectors that gained were BSE Oil& Gas, BSE Telecom and Nifty Pharma lost the most."
- Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities
“Profit booking in rising market along with probable expenses towards vacation, education could have led to lower investments in mutual funds in May,” said Manish Mehta, Kotak Mahindra AMC on AMFI data.
Indian Energy Exchange, Future Supply Chain Solutions, Praxis Home Retail, Siti Networks, Sintex Plastics Technology, BEML Land Assets, Lexus Granito (India), PTC Industries, United Drilling Tools and V-Mart Retail were among 13 stocks that hit 52-week lows.
Aether Industries, AIA Engineering, Ami Organics, Anant Raj, Apollo Pipes, Apollo Tyres, Artemis Medicare Services, Axis Bank, Bcl Industries, Bharat Electronics, Britannia Industries, CCL Products (India), Choice International, Cholamandalam Financial Holdings, Dhampur Sugar Mills, DIC India, Dynamic Cables, Electrosteel Castings, Expleo Solutions, Federal-Mogul Goetze (India), Genus Power Infrastructures, Globus Spirits, Glenmark Life Sciences, Greenlam Industries, Hindustan Aeronautics, InterGlobe Aviation, IndusInd Bank, Indian Oil Corporation, ION Exchange (India), IZMO, JBM Auto, JITF Infralogistics, Just Dial, Kaynes Technology India, KDDL, KPR Mill, Macrotech Developers, Mahindra CIE Automotive, Manaksia, Max Healthcare Institute, Munjal Showa, Peninsula Land, Power Finance Corporation, Pressman Advertising, PTC Industries, The Ramco Cements, REC, R Systems International, Sahyadri Industries, Sarda Energy & Minerals, Snowman Logistics, Sonata Software, Strides Pharma Science, Sula Vineyards, Sundram Fasteners, Swaraj Engines, Syrma SGS Technology, Tribhovandas Bhimji Zaveri, Tega Industries, Texmaco Rail & Engineering, Trent, Titagarh Wagons, UltraTech Cement, Usha Martin, Welspun Investments and Commercials and Zomato were among 77 stocks that hit 52-week highs.
CMS Info Systems, Heubach Colorants India, South West Pinnacle Exploration, RPG Life Sciences, DIC India, Indian Energy Exchange, Selan Exploration Technology, Federal-Mogul Goetze (India), Greenlam Industries, Motilal Oswal Mutual Fund – Motilal Oswal S&P BSE Quality ETF, Shriram Pistons & Rings, Premier Explosives, Raj Television Network, Macpower CNC Machines, Essar Shipping, NGL Fine-Chem, Five-Star Business Finance, Dynamic Cables, Gokul Agro Resources, Axis Mutual Fund – Axis Silver ETF, Moksh Ornaments, Sula Vineyards, Just Dial were the volume gainers.
IndusInd Bank, Axis Bank, Larsen & Toubro, Power Grid, Adani Enterprises, Grasim, UltraTech Cement, JSW Steel, HDFC Bank and HDFC were the top gainers while HDFC Life, Tata Steel, Hindustan Unilever, Eicher Motors, Divis Lab, SBIN, HeroMotocorp, Infosys, ONGC and Kotak Bank were the top losers.
Kotak Bank, India Energy Exchange, Hindustan Aeronautics (HAL), HDFC Bank, Paytm, State Bank of India (SBIN), Axis Bank, ICICI Bank and Infosys were the most active NSE stocks.
In sectoral indices, Bank Nifty was trading at 43,994.10, Nifty Auto slipped 0.32%, Nifty FMCG tumbled 0.91%, Nifty IT fell 0.69% and Nifty PSU Bank tanked 1.18%.
All the broader market indices were trading in red – Nifty 100 fell 0.27%, Nifty Midcap 100 dipped 0.10%, Nifty Smallcap 50 was down 0.21% and Nifty Total Market fell 0.21%. The volatility index, India VIX was trading 1.39% lower at 11.10.
The NSE Nifty 50 fell 52.55 points or 0.28% to 18,582 and BSE Sensex tanked 158.39 points or 0.25% to 62,690.25.
PTC Industries share price jumped 3% to Rs 3,105 after the company got listed on NSE. PTC is already listed on the BSE. The company listed its entire equity share capital of 1,33,82,257 shares, each with a face value of Rs 10, on the NSE following approval from the exchange.
NSE Nifty 50 fell 41.30 points or 0.22% to 18,593.25. The top losers were HDFC Life, Hindustan Unilever, Tata Steel, Divis Lab and State Bank of India (SBIN) while the gainers were IndusInd bank, Axis Bank, Grasim, Larsen & Toubro and Adani Enterprises.
Strong intraday rally was seen yesterday in gold after US unemployment came higher than expected. US unemployment claims came at a two year high which is highly supportive of rate pause. US Dollar and Treasury yields both dip after the data and bullions jumped. Market is now waiting for next week’s PCE index on 13th June and FOMC meet on 14th and 15th. Many investors were surprised by the rate hike from the Bank of Canada and Australia which brings the reality that pause does not mean shift from pivot as Bank of Canada raised rates after four month pause.
HDFC Bank, Reliance, ICICI Bank, and Infosys were the four top large caps in the equity portfolio of various life insurance companies in India during the month of May, according to a Nuvama report. During the month, the key additions to various portfolios were Vedant Fashions, IDFC First Bank, Star Health, ITC and Rainbow Children. The insurance players offloaded significant portions of their stakes in Kotak Mahindra Bank, Interglobe Aviation, L&T, Axis Bank and Ultratech Cement.
The Initial Public Offering (IPO) of LED lighting solution provider IKIO Lighting was subscribed 66.29 times on the last day of subscription on Thursday, helped by overwhelming participation from institutional buyers. The Rs 606.5-crore initial share sale received bids for 1,00,92,76,892 shares against 1,52,24,074 shares on offer, according to NSE data.
Gold rate is trading flat on Friday, while the silver rate is up 0.18%. On Multi Commodity Exchange, gold August futures were trading at Rs 59,893 per 10 grams, up Rs 2 after dipping in the negative territory intraday. Silver July futures were trading higher by Rs 132 at Rs 73,802 per kg on MCX.
Power exchange IEX’s share price crashed 15% in trade on Friday, touching a fresh 52-week low of Rs 116 apiece. On Thursday, the Ministry of Power announced its decision to permit market coupling and requested the Central Electricity Regulatory Commission (CERC) to begin the process. Market coupling ensures that the price discovery would occur outside of the power exchanges, which will lead to a uniform market clearing price, effectively threatening IEX’s dominance and business moat.
Tata Motors shares have been hitting new highs for the last few sessions, and the stock gained today as well, with shares rising nearly 1%. The surge in stock is primarily due to the strong results, wherein the company reported a net profit of Rs 5,408 crore in Q4FY23l, swinging from a net loss of Rs 1,033 crore in Q4FY22. The reason behind the stellar Q4 results was price hikes and strong demand for cars in its luxury Jaguar Land Rover (JLR) stable as well as for commercial trucks. Apart from the results, the company’s recent investors’ meet further helped the stock to touch new highs. Most of the analysts turned bullish on Tata Motors and now expect it to gain as much as 24%.
Reliance Industries (RIL) share price fell 0.13% to Rs 2496.5. “We tweak our FY24-25 EBITDA by a marginal ~1%; our target price remains unchanged at Rs 2,900. We reiterate BUY given RIL’s industry-leading capabilities, which is likely to drive robust 14-15% EPS CAGR over the next 3-5 years,” said analysts at JM Financial.
“We will begin the day hoping that 18676 does not find rejection trade like what was witnessed on the recovery attempt to 18720 yesterday. Even if there is an early loss in momentum, we expect upside attempts to resume, as long as the dips do not stretch beyond 18638. If yes, expect a return to the 18887-19070 trajectory, but a vertical upside all the way is less expected. Alternatively, slippage past 18595 would call for 18420,” said Anand James, Chief Market Strategist at Geojit Financial Services.
IRB Infrastructure Developers share price jumped 1.61% to Rs 28.43 after toll collection for IRB Infrastructure Trust grew 24% on-year to Rs 201.18 crore, up from Rs 162.64 crore in the previous year.
CEAT share price fell 0.44% to Rs 1935.7 after the company increased its holding in Tyresnmore, investing an additional Rs 9 crore for a 10.89% stake, taking its total shareholding in the company to investment, Tyresnmore shall become 56.9%, making Tyresnmore a subsidiary of the company.
Kotak Bank share price fell 0.3% to Rs 1880.6 after the reports surfaced that Canada Pension Fund may offload 3.3 crore shares or 1.6% equity stake in Kotak Mahindra Bank through block deals. The sale is likely to happen between a price range of Rs 1,792-1,886 apiece, which at the lower end, comes at a 5.1% discount to yesterday’s closing price of Rs 1,888 per share.
Torrent Power share price fell 1.43% to Rs 657.65 after the company said that it has raised Rs 600 crore through issuance of non-convertible debentures on a private placement basis. The company issued 60,000 NCDs of Rs 1 lakh per debenture aggregating to Rs 600 crore.
Vedanta share price fell 0.14% to Rs 277.20 today. Meanwhile, Vedanta Resources’ gross debt fell to $6.4 billion as of May due to continued deleveraging and “significant” improvement in balance sheet position.
Bank Nifty rose 86.20 points or 0.20% to 44,081.45. The top gainers were IndusInd Bank, Bandhan Bank, Axis Bank, IDFC First Bank and ICICI Bank while the losers were Bank of Baroda, SBIN, Federal Bank, Kotak Bank and PNB.
The NSE Nifty 50 gained 29.15 points or 0.16% to 18,663.70 and BSE Sensex surged 114.32 points or 0.18% to 62,962.96.