Market HIGHLIGHTS: Sensex posts record closing, up 615 pts from day’s low, Nifty ends above 15,800 for 1st time

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Updated: June 14, 2021 4:15:47 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 made record closing highs on Monday

Share Market Today, Share Market LiveExcept, Nifty FMCG, Nifty IT and Nifty PSU Bank, all the Nifty sectoral indices ended in red.

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 made a record high closing on Monday. BSE Sensex gained 76.77 points to end at record high closing at 52,551.53, while Nifty 50 index settled above 15,800 for the first time ever, at 15,811.85. Reliance Industries Ltd (RIL), Bajaj Finance, Power Grid Corporation of India, ONGC, Infosys, L&T, TCS, SBI were among top Sensex gainers. On the flip side, Kotak Mahindra Bank was the top index laggard, followed by NTPC, Housing Development Finance Corporation (HDFC), Tech Mahindra, Sun Pharma. Except, Nifty FMCG, Nifty IT and Nifty PSU Bank, all the Nifty sectoral indices ended in red. Nifty Bank index fell 0.28 per cent.

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Highlights

    15:47 (IST)14 Jun 2021
    15900-16000 continues to remain the next target for Nifty50 index

    The Nifty has respected the 15700 level on a closing basis. Despite the crack in the first hours of trade, it has managed to claw back its losses and has closed well above the lows of the day. 15900-16000 continues to remain the next target for the index and as long as 15700 holds, traders have no reason to be concerned. A buy on dips is a prudent strategy to adopt at these levels of the market. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    15:43 (IST)14 Jun 2021
    Facebook, Apple, others surge as tech stocks regain steam on Wall Street; now eyes on Fed meet

    Wall Street investors saw the technology-heavy NASDAQ index surge higher during the previous week, shunning away inflation fears. During the week NASDAQ jumped over 1.5%, outperforming both S&P 500 index and the Dow Jones. Technology stocks seem to be returning as a favourable trade among investors even though the NASDAQ index is still near the all-time high and valuations might be rich. The most preferred trade among the tech stocks is also picking up pace with all but one of the FAANGM stocks closing with gains during the previous week. Facebook, Apple, Amazon, Netflix, Google, and Microsoft are collectively called the FAANGM stocks.

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    15:40 (IST)14 Jun 2021
    Sensex, Nifty end at record closing levels

    BSE Sensex gained 76.77 points to end at record high closing at 52,551.53, while Nifty 50 index settled above 15,800 for the first time ever, at 15,811.85

    15:20 (IST)14 Jun 2021
    Analyst views on Dodla Dairy IPO

    Considering FY 21 annualized EPS of 26.08 on a post-issue basis, the company is going to list at PE of 16.41X with a market cap of Rs.25,463 mn while its listed peers namely Hatsun Agro and Parag Milk are trading at a PE of 81.1X and 67.6X. We recommend to “Subscribe” this IPO as the company is one of the largest dairy company in the branded consumer market with a strong distribution network and is available at a reasonable valuation compared to its peers. Marwadi Shares and Finance

    15:19 (IST)14 Jun 2021
    Shriram Transport Finance raises nearly Rs 2,000 cr via QIP

    Non-banking finance company Shriram Transport Finance (STFC) on Monday said it has raised Rs 1,998.98 crore through its qualified institutional placement (QIP) issue. The issue, which was launched on June 7, 2021, received 6.3 times oversubscription, a company release said. Several foreign institutional investors (FIIs) and domestic institutional investors (DIIs) participated in the QIP issue. It was priced at Rs 1,430 per share, representing a discount of 0.23 per cent to the SEBI floor price of Rs 1,433.32.

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    14:47 (IST)14 Jun 2021
    PE/VC investments fall in May to $3.6 billion: Report

    Private equity and venture capital investments more than halved to USD 3.6 billion in May 2021 when compared to the preceding April’s USD 7.5 billion and a third lower than the year-ago period’s USD 5.4 billion, a report said on Monday. However, on a year to date basis, the venture investments by these two categories of investors have doubled to USD 20 billion for the first five months of 2021, the report by industry lobby IVCA and consultancy firm EY said, stressing that investors continue to remain bullish.

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    14:24 (IST)14 Jun 2021
    WPI rises for 12th straight month

    On expected lines, WPI inflation for May 2021 has increased to 12.94% further from 10.49% on a YoY basis. This is the twelfth consecutive month since June 2020 that the WPI has continued to rise on a sequential basis, reflecting the steady rise in commodity prices and particularly retail fuel prices over the last few months. The fuel and power component has climbed sharply by 37.6% in May on the back of the 20.9% annualised growth in the previous month which can be partly attributed to the base factor and partly to the increase in retail prices in May. However, the current driver of WPI inflation is the continuous rise in the prices of manufactured products on a sequential basis and averaging 1.2% since the last 6 months. Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research

    14:22 (IST)14 Jun 2021
    WPI rises to 12.94% in May 2021

    Yet another month of the record high for the Wholesale Price Index (WPI), as it rose to 12.94% in May 2021 vs 10.49% in April 2021, partially owing to the unfavourable base of last year. Sequentially, it has gone up by 0.76% led by an uptick in indices of fuel and power group (1.75%) and manufacturing products (1.24%) while the primary articles price index went down by 0.86%. There has been a persistent rise in the manufacturing price index owing to an increase in commodity price. Though RBI might not look into these numbers too cautiously, these cost-push pressures would be seen in the Retail Inflation with a lag. Of course, the yearly Consumer Price Index (CPI) figures do depend on its segment weight-age and relative base impact, but these pressures cannot be ignored. Krupesh Thakkar, CFA, HoD, Financial Markets, ITM B-School

    14:10 (IST)14 Jun 2021
    Sona Comstar IPO subscribed 5% so far

    The Rs 5,550-crore Sona BLW Precision Forgings (Sona Comstar) has been subscribed 5 per cent so far on the first day of bidding. The portion kept reserved for retail investors has been subscribed 30 percent, while the non-institutional investors and qualified institutional investors are yet to put in their bids.

    13:58 (IST)14 Jun 2021
    Shyam Metalics IPO subscribed 60% so far on day 1

    Shyam Metalics and Energy issue subscribed 60 per cent so far on day 1 of bidding process. Qualified institutional buyers have not started bidding yet. The reserved portion of retail investors has seen a 1.19 times subscription, while employees hace put in 10 per cent bids and non-institutional investors have put in 4 per cent bids, against their reserved portion.

    13:43 (IST)14 Jun 2021
    BHEL share price tumbles 20% on weak Q4 results; stock may fall another 55%, say analysts

    Bharat Heavy Electricals Ltd (BHEL) share price tumbled as much as 18 per cent to Rs 62.55 apiece in intraday on BSE, after the company reported lower-than-expected Jan-Mar quarter results. At NSE, the stock plummeted 20 per cent. BHEL’s consolidated net loss narrowed to Rs 1,036.32 crore in the March quarter against a net loss of Rs 1,532.18 crore in the year-ago period. Following the weak set of quarter numbers, most of the analysts and brokerage houses hinted at a further fall in the share price.

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    13:31 (IST)14 Jun 2021
    InMobi’s Glance to acquire Shop101, to launch influencer-led commerce platform

    Glance – which owns video-platform Roposo – on Monday said it is acquiring Shop101, as the InMobi group firm looks to bolster its position in the influencer-led commerce space in the country. The acquisition – whose deal size was not disclosed – will provide Glance and Roposo end-to-end capability for launching celebrity and influencer-led LIVE commerce.

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    13:22 (IST)14 Jun 2021
    Godrej Consumer outlook positive ~ Motilal Oswal

    "We think that the changes in top management along with: a) better capital allocation efforts in recent years, b) initial good results in GAUM (largely Africa) business in FY21, and c) potential tailwind in Soaps and Personal Wash products - are likely to unlock sustainable topline/earnings growth and revitalization RoCE over the next few years, leading to a sustained re-rating as well. We have seen transformative changes on all these fronts in the past with companies like BRIT, NEST, JUBI, and HUVR. Therefore, maintain our positive outlook on the stock," analysts at Motilal Oswal said. 

    Target price: Rs 1,020 per share.

    13:13 (IST)14 Jun 2021
    Nifty IT, Nifty Pharma in green

    Nifty IT and Nifty Pharma index were the only two sectoral indices on NSE to trade with gains on Monday. Nifty PSU Bank, Nifty Private Bank, and Nifty Bank were the worst performers.

    12:35 (IST)14 Jun 2021
    Adani Group shares plummet to hit lower circuits on reports of NSDL freezing three FPI accounts 

    Adani Group stocks took a heavy beating on Dalal Street on Monday morning, hitting the lower circuit within the initial minutes of trade. The fall in Adani Group shares came after reports surfaced that National Securities Depository Limited (NSDL) froze three accounts of Foreign Portfolio Investors (FPI) that owned a significant stake in Adani Group Companies. Adani Enterprises tanked 20% to trade at Rs 1,254 per share, Adani Ports plummeted 19%. Adani Power, Adani Green, Adani Total Gas, Adani Transmission were all down between 5%-20%.

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    12:10 (IST)14 Jun 2021
    Adani group stocks tumble up to 20%

    Adani group stocks have plummeted with, Adani Enterprises down by 20%, Adani Ports down by 15%, Adani Power down by 5% and Adani Total Gas Ltd down by 5%. As per the different market news some of the mutual funds are holding very large quantities of Adani groups stocks and some complaints have been filed with SEBI also. From today four Adani group stocks have been shifted to T2T (Trade 2 Trade) which means that intraday trading will not be permitted and investors need to take/give holding for any trade. We suggest investors be cautious on Adani group stocks, trading at very high valuations compared to peers. Buy on dips or averaging the buy position should be avoided for the time being. Yash Gupta Equity Research Associate, Angel Broking 

    12:07 (IST)14 Jun 2021
    Shyam Metalics grey market premium surges by 68% as IPO opens; should you subscribe?

    Shyam Metalics and Energy’s Rs 909-crore IPO opened for subscription today, after the company raised Rs 269.94 crore from 21 anchor investors on Friday. Shyam Metalics, an integrated metal producer, has allocated 88.21 lakh equity shares at Rs 306 per share to the anchor investors. The grey market premium in Shyam Metalics shares have surged to Rs 155 per share over the IPO price of Rs 306, according to the people who deal in shares of unlisted companies. The shares were seen trading at Rs 515, up 68 per cent, over the issue size. 

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    12:03 (IST)14 Jun 2021
    Buy quality stocks during significant dips

    "Immediate support and resistance for Nifty 50 are 15,600 and 15,800 respectively. Overall, the markets look bullish and we believe that any significant dip is a good opportunity to accumulate quality stocks," said Mohit Nigam, Head, PMS - Hem Securities.

    11:35 (IST)14 Jun 2021
    Current upcycle a very good opportunity for Shyam Metalics to improve its business profile

    Shyam Metalics has been able to consistently outperform its peers in terms of operating margins and return ratios. The company also has a stronger balance sheet due to lower debt. In fact, it is the least leveraged as compared to its peers. Metal stocks have been buzzing of late on the back of an increase in commodity prices globally, amid expectations of a 'Commodity Super Cycle.' Given its prominent position in the industry, the current upcycle provides a very good opportunity for Shyam Metalics to improve its business profile further. INDmoney said in a report

    11:02 (IST)14 Jun 2021
    Sona Comstar’s Rs 5,550-crore IPO opens; promoters to cut stake, should investors subscribe or not?

    Sona BLW Precision Forgings’ (Sona Comstar) Rs 5,550 crore initial public offering opened for subscription today. The IPO is a mix of fresh issue of equity shares worth Rs 300 crore and an offer for sale (OFS) by existing shareholders worth Rs 5,250 crore, including Blackstone’s affiliate Singapore VII Topco III Pte Ltd. Sona Comstar is one of the leading critical auto components manufacturers globally. The company is also a prominent player in the electric vehicle segment domestically. Promoter shareholding post issue will drop to 67%, while public shareholding will increase to 33%.

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    10:59 (IST)14 Jun 2021
    COMEX gold may remain under pressure amid firmer US dollar

    COMEX gold trades 0.5% lower near $1867/oz after a 0.9% decline on Friday. Gold remained under pressure as the US dollar held steady and US bond yields recovered amid positioning for Fed meeting this week. Mixed ETF flow and weaker Indian consumer demand also weighed on prices. Gold may remain under pressure amid firmer US dollar however a sharp fall is unlikely as Fed is likely to maintain a dovish stance. Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities

    10:47 (IST)14 Jun 2021
    Policy accommodation to support growth revival to continue

    With the extremely depressed base of last year due to the national lockdown and despite a re-imposition of restrictions on account of the second wave, industry recorded unpreceded growth in Apr’21. Policy accommodation to support growth revival to continue. India recorded unprecedented 134% industrial growth in Apr’21, a whit ahead of consensus. The near-standstill in industrial activity due to the national lockdown in Apr’20 created an extremely subdued base, leading to explosive growth in Apr’21, de- spite a re-imposition of restrictions in Apr’21 due to the second wave. Anand Rathi Financial Services

    10:26 (IST)14 Jun 2021
    Fourth consecutive quarter of higher earnings beat improves profit cycle outlook

    Q4FY21 is turning out to be the fourth consecutive quarter of earnings beat exceeding misses (led by cyclicals), which has resulted in PAT/GDP rising further to 2.8% despite upward revision to FY21 GDP base. ‘Look through earnings’ of NIFTY200 portfolio has risen sharply by 120% driven by cyclicals in Q4FY21. Latest GDP print indicates economic recovery is led by investments as the real investment rate rose to a 2-year high of 34.3% driven by robust construction and manufacturing sector along with higher government spending. It is also corroborated by robust quarterly results of sectors such as metals, cement, building material, capital goods, auto as well as the resilience shown by merchandise exports. We believe the environment for capex cycle is turning conducive at a macro level. Pick up in contact-intensive consumption will be with a lag and depends on consumer confidence. Rising demand-driven moderate inflation and improving pricing power of manufacturers reflected in rising WPI is positive for corporate earnings and stocks in general. Risk emanates from inflation going out of hand and demand outlook falling which looks unlikely currently. ICICI Securities

    10:25 (IST)14 Jun 2021
    Sensex, Nifty trim opening losses

    BSE Sensex trimmed opening losses, but was still in red, down 178 points, while NSE's Nifty was half a per cent down at 15,725

    09:59 (IST)14 Jun 2021
    MCX gold trading strategy for tofay

    Last week Gold prices corrected by 0.19% and closed at 48903 levels after touching 49721 level last week. In the international market gold is trading at $1866 per ounce. Recently we have noticed that recovery in dollar and bond yield put pressure on gold prices and fade out the Gold demand as safe-haven demand. Outflow in ETFs also witnessed. For today we are expecting the Gold may trader lower today. Traders can go for sell at 49000 levels with the stop loss of 49250 for the target 48500 levels. In the international market it may test $1850 level very soon. Anuj Gupta, VP – Commodity and Currencies Research, IIFL Securities

    09:58 (IST)14 Jun 2021
    Gold outlook bearish for intraday

    As dollar has appreciated in the early Asian trading session, the outlook for gold is bearish for intraday. Having said that, investors now turn their attention to the Fed's monetary policy decision later in the week, with expectations that the central bank will continue to remain ultra-accommodative until the economy has further recovered. Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Shares and Stock Brokers

    09:57 (IST)14 Jun 2021
    MCX gold gives up 49,000

    The focus has sifted on the Fed’s June 15-16 policy meeting for further clarity on the policymakers’ view on rising inflation and economic recovery. Should the FOMC not un-nerve markets, we would look for gold to be pushed higher, but ahead of the decision, volatility is keeping the dollar afloat. So in MCX Gold, the price is trading below 49000, so the fall can be seen towards 48450-48300-48000. The crucial resistance is around 49650 and sustenance only above that will push towards 50000-50300. Rahul Gupta, Head of Research-Currency at Emkay Global Financial Services

    09:55 (IST)14 Jun 2021
    Nifty support lies at 15700-15750

    The index continues to be nervous at higher levels; 15700-15800 is posing to be a resistance and this has happened multiple times over the last few trading sessions. The support for the Nifty has been upgraded to 15700-15750 and as long as this holds on a closing basis, we are in bullish terrain. Should we break the level of 15700 on a closing basis, traders should consider wrapping up their long positions and wait for a directional move thereafter. Until then, 15900-16000 is the next target for the index. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    09:51 (IST)14 Jun 2021
    Gold, silver under pressure as dollar strengthens; expect bullion prices to trade sideways this week

    Commodity prices traded mixed with most of the commodities in the Non-Agro segment traded firm except gold. Crude oil prices extended rally on strong fuel demand recovery form US and Europe. Base metals ended in green as China continued to increase prices discarding inflation worries. Bullion prices traded under pressure on stronger dollar following strong economic data.

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    09:48 (IST)14 Jun 2021
    Axis Securities moderately bearish on Bank Nifty

    On Thursday, Axis Securities had given a moderately bearish view to Bank Nifty for this week, with pair trade strategy with breakeven point at 34,630.

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    09:37 (IST)14 Jun 2021
    Indian rupee may trade in 72.90-74.20 zone with upside bias

    The higher crude oil prices, fear of fiscal slippage, jump in the US dollar index and RBI’s aggression to buy dollars could be negatives for the Rupee. However, after steady secondary market inflows, now primary market (IPO) could grab some dollars inflows and limit Rupee’s depreciating move. But RBI stands tall in the spot market to dominate over any flows. Overall, after benefiting the importers with lower spot and premium, the market is slightly turning in favor of the exporters where higher spot could offset lower premium a bit. Thus it is advisable for importers to buy on every dip and exporters to participate slowly on a breakout. In the near term, we expect the pair to trade in the range of 72.90-74.20 zone with an upside bias. Amit Pabari, managing director, CR Forex Advisors

    09:36 (IST)14 Jun 2021
    Bank Nifty index falls 1.7%

    All the Nifty sectoral indices were trading deep in red, lead by Nifty Realty, which fell 3.5 per cent. Nifty Bank index was down 1.7 per cent, While Nifty Metal declined 3.6 per cent

    09:34 (IST)14 Jun 2021
    SBI, Kotak Mahindra Bank, Axis Bank shares drag Sensex today

    Bajaj Finance, State Bank of India (SBI), NTPC, Bharti Airtel, Kotak Mahindra Bank, Axis Bank were top Sensex laggards

    09:30 (IST)14 Jun 2021
    Infosys, TCS only Sensex gainers

    Only Infosys, TCS shares were trading in the positive territory on Monday, gaining up to 1.3 per cent

    09:30 (IST)14 Jun 2021
    DHFL shares stop trading on NSE, BSE; existing stock worth zero now

    Shares of Dewan Housing Finance Corporation Ltd (DHFL) stopped trading on the stock exchanges from today, as BSE and NSE informed investors over the weekend. In separate notifications, both the exchanges said that DHFL’s resolution plan provides for the delisting of equity shares of the Company. DHFL ended Friday’s trading session at Rs 16.70 apiece, after having hit the 10% lower circuit. The stock has seen significant trading in the last few weeks, even hitting upper circuits after the resolution plan was approved by the National Company Law Tribunal.

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    09:30 (IST)14 Jun 2021
    Sensex falls 300 points, Nifty below 15,700

    BSE Sensex was trading 309 points or 0.59 per cent down at 52,165, while Nifty 50 was ruling at 15,684, down 115 points or 0.73 per cent

    09:25 (IST)14 Jun 2021
    Nifty set to touch 16,100, Bank Nifty may hit 36,200 in June 2021; TCS, SBI strong on charts

    Nifty 50 index continued with its record setting spree over third consecutive week as Nifty clocked a fresh all time high of 15835. The weekly price action formed a bull candle with small lower shadow, highlighting elevated buying demand as intra-week dips were bought into. On expected lines, small cap index scaled to fresh all time high supported by faster retracement as nine quarters decline retraced in just five quarters, indicating structural improvement.

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    09:24 (IST)14 Jun 2021
    Nifty to trade in 16200-15600 range this week, Bank Nifty remains in uptrend; Infosys, Tata Steel in focus

    On the weekly chart the index has formed a small Bullish candle carrying a long lower shadow indicating buying support at lower levels. The index is moving in a Higher Top and Higher Bottom formation on the weekly chart indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 15850 level it would witness buying which would lead the index towards 15950-16100 levels.

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    08:48 (IST)14 Jun 2021
    Call, PUT OI

    16000 strike has maximum Call OI at 3 million shares followed by 15800 that has Call OI of 2.8 Million. Highest Put OI is at 15700 with 2.3 million shares followed by 15800 strike which has PUT OI of 2 million shares

    08:47 (IST)14 Jun 2021
    DHFL, Coal India, Axis Bank, Reliance Power, Ruchi Soya, Adani Enterprises stocks in focus

    A total of 50 BSE-listed companies including Coal India, IDFC, Indian Overseas Bank, Greenply Industries, IFB Industries, JB Chemicals & Pharmaceuticals, Jaiprakash Power Ventures, Kajaria Ceramics, and Uttam Sugar Mills will release quarterly earnings on June 14.

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