Market HIGHLIGHTS: Sensex falls 391 pts from day’s high, Nifty ends at 15,814; FM announces relief measures

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Updated: June 28, 2021 4:23:04 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: BSE Sensex and Nifty 50 ended in the red on Monday even as Finance Minister Nirmala Sitharaman announced relief measures.

Share Market Today, Share Market LiveSectoral indices ended mixed with Nifty PSU Bank gaining 2.4 per cent

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market indices BSE Sensex and Nifty 50 ended in the red on Monday, even as Finance Minister Nirmala Sitharaman announced relief measures to revive Indian economy, battered by COVID second wave. BSE Sensex ended 189 points or 0.36 percent down at 52,735.59, while the broader Nifty 50 index settled 46 points down at 15,815. TCS, Titan Company, HCL Tech, Reliance Industries Ltd (RIL), UltraTech Cement, Bharti Airtel were among top index draggers. On the flip side, Dr Reddy’s Laboratories, Tata Steel, Tech Mahindra, Sun Pharma, Hindustan Unilever and Axis Bank among others were top Sensex gainers. Sectoral indices ended mixed with Nifty PSU Bank gaining 2.4 per cent while Nifty IT fell half a per cent.

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Highlights

    15:40 (IST)28 Jun 2021
    Sensex, Nifty fall as FM presser is underway

    BSE Sensex ended 189 points or 0.36 percent down at 52,735.59, while the broader Nifty 50 index settled 46 points down at 15,815

    15:10 (IST)28 Jun 2021
    FM Sitharaman begins press conference

    Finance Minister Nirmala Sitharaman begins press conference 

    15:06 (IST)28 Jun 2021
    Emami hikes stake in Helios Lifestyle to 45.96 pc

    Kolkata-based FMCG firm Emami Ltd on Monday said it has hiked its stake in Helios Lifestyle Pvt Ltd to 45.96 per cent following the acquisition of additional shares. The company, however, did not disclose the financial details of the transaction. Emami had previously held a 33.09 per cent stake in Helios Lifestyle

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    15:01 (IST)28 Jun 2021
    Real estate development along national highways offers over 15% returns: JLL India

    Real estate development along national highways can generate a return of more than 15 per cent for builders and potential investors, according to property consultant JLL India. The government is focusing on providing world-class infrastructure and related services for the highway network, it said.

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    14:38 (IST)28 Jun 2021
    Commercial Bank of Kuwait selects TCS solution to transform treasury operations

    Tata Consultancy Services on Monday announced that Commercial Bank of Kuwait has selected its ‘BaNCS for Treasury’ solution to “manage risk better, enhance asset class coverage, and drive future growth”. CBK was looking for a modern, integrated treasury solution to help transform its treasury operations and offer new generation asset classes, enhance risk management, and ensure regulatory compliance, a TCS statement said.

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    14:36 (IST)28 Jun 2021
    Nifty PSU Bank jumps 3%; Central Bank of India, Indian Overseas Bank soar 6.7%

    Nifty PSU Bank index was the top sectoral gainer, rising nearly 3 per cent, lead by J&K Bank, Central Bank of India, Indian Overseas Bank, which were up in 6-6.7 per cent range

    14:29 (IST)28 Jun 2021
    SEBI order on Franklin Templeton to refund Rs 512 crore stayed by SAT

    Franklin Templeton Asset Management (India) on Monday said the Securities Appellate Tribunal (SAT) has stayed Sebi’s order, whereby the regulator had barred the asset management firm from launching any new debt scheme for two years.

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    14:28 (IST)28 Jun 2021
    SBI Cards share price rallies 14% in six months; JP Morgan, Motilal Oswal see 25% more rally

    SBI Cards and Payment Services share price is likely to rally up to 25 per cent from the current levels on the expectations of card spends recovery. The stock price soared 14 per cent in six months, while it has surged nearly 48 per cent since listing in March 2020. Analysts at JP Morgan Equity Research and Motilal Oswal Financial Services are bullish on SBI Cards stock and have recommended to buy the stock.

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    14:15 (IST)28 Jun 2021
    State Bank of India shares outperform Sensex, Nifty year-to-date; stock up 52% in 2021

    State Bank of India’s share price has outperformed benchmark indices Sensex and Nifty so far this year. While SBI stock price has gained 52% since January 1, Sensex and Nifty have soared 10-12% each. On June 28, SBI share price was trading flat at Rs 428.9 apiece, while benchmark indices were down in the red. The stock reached a 52-week high of Rs 442 per share on June 3 and since then has slipped over 2%. SBI, the largest state-owned bank in the country has a market capitalisation of Rs 3.82 lakh crore.

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    13:50 (IST)28 Jun 2021
    FM Nirmala Sitharaman to adsress press conference at 3 PM

    Finance Minsiter Nirmala Sitharaman will address a press conference today, 28th June 2021 at 3 PM in New Delhi.

    13:44 (IST)28 Jun 2021
    Dodla Dairy listing update

    “Dodla dairy, a South-based dairy firm, had a strong listing today with 28% premium at Rs550 /share against its issue price of Rs428/share. The Rs520 crore issue had seen strong subscription of 45.6 times, given its presence in niche space and decent fundamentals. Dodla Dairy is one of the leading dairy firm in Southern India and is the third-largest player in terms of milk procurement per day. It derives about 30% of its revenue from the value added products, the share of which is likely to accelerate going ahead. The issue was reasonably priced at 16.4x FY21 P/E vis-à-vis its peers, which also led to strong interest in the counter apart from its presence in niche space. However the listed companies in this space have not done well so far, thus it needs to be seen how this company performs going ahead," said Hemang Jani, Head Equity Strategy, Broking & Distribution, Motilal Oswal Financial Services.

    13:28 (IST)28 Jun 2021
    Analysts suggest to book profits in KIMS shares

    Krishna Institute of Medical Sciences Ltd got listed on stock exchanges at ₹1008.9 on 28-06-2021. We had given a subscribe rating to the KIMS IPO and the listing was in line with our expectation. We suggest short-term investors to book profit at ₹977, with gains of 17.8%, and recommend that long-term investors may book partial profit and hold the remaining quantity as the company can perform well in the long run. KIMS is trading at EV/EBITDA of 21 times and Price to earnings of 37 times, which is cheaper compared to peers. Additionally, the company has best Return of equity (ROE) & Return on capital employed (ROCE) among peers of 23.8% and 24.8% respectively. Yash Gupta Equity Research Associate, Angel Broking 

    12:41 (IST)28 Jun 2021
    If Nifty holds 15,900, it may reach 16,300

    The Market opened at all-time high but could not sustain the higher levels and soon lost all the gains. 15800 will be an important support zone for the market to stay positive in the short-term. If the market sustain above the level of 15900, we can expect the market to trade till 16200-16300. On the sectoral front market is divided and has clear indication of the direction. Divislab and ONGC are the top gainers while Hdfclife and Titan are the top losers on Nifty. Gaurav Garg, Head of  Research, CapitalVia Global Research

    12:08 (IST)28 Jun 2021
    RIL shares fall 6% in one week; Macquarie analysts maintain ‘underperform’ rating, see 35% downside

    Mukesh Ambani’s Reliance Industries Ltd’s (RIL) share price continues to trade in red, now down more than 6% since last Monday. The largest private company in the country, by market capitalisation, failed to impress investors with a massive Rs 75,000 crore capital expenditure for the new energy business. With the stock lagging on the bourses, global brokerage firm Macquarie Group has reiterated its ‘underperform’ rating on the stock with a 12-month target price of Rs 1,350 apiece, translating to 35% downside potential from the current market price. So far this year, the RIL share price has gained 5.8%, while the Nifty 50 has zoomed 13%.

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    11:55 (IST)28 Jun 2021
    This Rakesh Jhunjhunwala share may rally 28%; brokerages say ‘buy’ Federal Bank stock

    Rakesh Jhunjhunwala portfolio stock Federal Bank shares were up over 1 per cent at Rs 86.70 apiece on BSE in intraday deals on Monday. Federal Bank stock price has nearly doubled in less than a year, rising over 90 per cent from its 52-week low. At least three research and brokerage firms have recommended to buy Federal Bank stocks, and expect it to rally up to 28 per cent from the current levels. However, the stock is off 6.5 per cent from its 52-week high of Rs 92.40, hit in March this year. Analysts see Federal Bank as a good stock in medium-to-long-term investment. 

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    11:54 (IST)28 Jun 2021
    Dodla dairy shares likely to accelerate going ahead

    Dodla Dairy had a strong listing today with 28% premium at Rs 550/share against its issue price of Rs428/share. The Rs520 crore issue had seen strong subscription of 45.6 times, given its presence in niche space and decent fundamentals. Dodla Dairy is one of the leading dairy firm in Southern India and is the third-largest player in terms of milk procurement per day. It derives about 30% of its revenue from the value-added products, the share of which is likely to accelerate going ahead. The issue was reasonably priced at 16.4x FY21 P/E vis-à-vis its peers, which also led to strong interest in the counter apart from its presence in niche space. However the listed companies in this space have not done well so far, thus it needs to be seen how this company performs going ahead. Hemang Jani, Head Equity Strategy, Broking & Distribution, Motilal Oswal Financial Services

    11:22 (IST)28 Jun 2021
    Analysts recommend to book profits in Dodla Dairy shares

    Dodla Dairy Limited (DDL) was incorporated on May 15 1995 at Hyderabad. The company sell fresh milk, ghee, butter, curd, paneer, gulab jamun, doodh peda, basundhi and junnu, which are targeted at consumption at home. They sell UHT milk, flavoured milk, ice cream and beverages such as buttermilk. We had recommended SUBSCRIBE on the Dodla Dairy IPO. The stock is up ~41% from the higher end of the price band. At CMP of Rs 605, the stock is trading at 23.2x PE ( 9MFY21 annualised profit ) which leaves little room for upside. Hence, we recommend to book profits. Amarjeet Maurya - AVP - Mid Caps, Angel Broking

    11:00 (IST)28 Jun 2021
    Thyrocare promoter to exit from the business what should investors do?

    Valumani, promoter of Thyrocare Technology Ltd, has entered into agreement to sell his entire holding (66.1%) in Thyrocare to Pharmeasy for total value of Rs 4546 crores (1300 per share). Pharmeasy's parent company will make an open offer to acquire an additional 26% stake in Thyrocare at 1300 per share. Currently, the stock is trading at around 1370 per share and we expect the stock to remain in this range for some time. Short term investors should book profits rather than applying for the open offer. Long term investors should remain invested and wait for fresh buying opportunities. Pharmeasy has a platform along with a good client base, which will elevate Thyrocare’s low-price high-volume business to the next level. We expect the stock to perform well upon completion of this open offer. Yash Gupta Equity Research Associate, Angel Broking

    10:45 (IST)28 Jun 2021
    Nifty poised to break above 15,900

    Technically Nifty is poised to break above 15900 but it remains to be seen whether it will sustain above that level. FIIs are likely to turn sellers above 15900 levels and, therefore, some caution is warranted. Bank Nifty has turned stronger in recent days and has the potential to move up further. News on the Covid front continues to be mixed and a bit perplexing. While the fresh cases have declined in India, the Delta variant continues to be a cause of concern. Due to its higher transmissibility, fresh restrictions are being imposed even in developed countries like UK & Australia. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

    10:17 (IST)28 Jun 2021
    Gold is struggling to build momentum

    COMEX gold trades flat near $1779/oz after a 0.1% gain in previous session. Weighing on gold price is stable US dollar and equity markets and higher bond yields. Also weighing on price is continuing ETF outflows. However, supporting price is rising virus concerns and mixed economic data from major economies. Gold is struggling to build momentum and unless we see fresh positive triggers or a break past the $1800/oz level, gold may remain sideways. Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities

    09:59 (IST)28 Jun 2021
    Rupee may trade in 73.90 to 74.40 range today

    Before the NFPR on Friday and the MFG PMI on 1st of July the markets are range bound as comments from FED officials slow. The Rupee is also moving in a small range of 74.10 to 74.30 and for today we can expect a range of 73.90 to 74.40. Exporters to sell at the extreme range of 74.40 and importers to buy near 73.90 or wait for the level which may come by 30th June when exporters sell for quarter end. Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors

    09:57 (IST)28 Jun 2021
    Dodla Dairy shares list at over 28% premium to IPO price; stock makes strong market debut

    Dodla Dairy made a strong debut on the stock exchanges on Monday, in an otherwise volatile market. Shares of the debutant company began trading at Rs 550 per share on NSE, up Rs 122 or 28.50% from the issue price of Rs 428 apiece. Dodla Dairy had a market capitalization of over Rs 3,000 crore on the listing.

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    09:56 (IST)28 Jun 2021
    KIMS shares list 22% above IPO price: Krishna Institute of Medical Sciences makes stellar market debut

    Krishna Institute of Medical Sciences (KIMS) shares made a strong listing on the stock exchanges today amid muted market sentiment. Shares of Krishna Institute of Medical Sciences opened for trading at Rs 1,008 per share, up 22% or Rs 183.9 apiece from the IPO price of Rs 825 per share. KIMS, a healthcare group operates in the Southern states of Andhra Pradesh and Telangana. The company had entered the IPO market to raise Rs 2,143 crore through an offer for sale and a fresh issue. On listing the stock had a market capitalisation of Rs 8,074 crore.

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    09:45 (IST)28 Jun 2021
    Gold, silver prices rise on US inflation concerns; expect rates to trade sideways this week

    Commodity prices traded frim with most of the commodities in the Non-Agro segment ending in green for the week.  Bullion prices traded higher on weaker dollar while base metals rallied on strong demand over US infrastructure push.  Crude oil prices extended rally on strong fuel demand recovery form US and Europe. 

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    09:44 (IST)28 Jun 2021
    Nifty facing hurdle at 15,900

    The Nifty is again facing resistance at the 15900 level. If we are successful in getting past it, we should be heading to 16100 as the next target point. 15700-15750 is a good support range for the markets and if we can continue to respect that, every dip can be utilized to accumulate long positions for higher targets. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    09:35 (IST)28 Jun 2021
    Indian rupee support, resistance levels

    The USD/INR may open marginally lower and unchanged from its previous day's finish due to a surge in domestic stocks and a marginal correction in the US dollar index. The primary market is also helping to attract foreign investment inflows. Dollar Index is holding the support near $91.50. Technically, the USDINR June opened on a flat note this morning and was moving in a marginally sideways to Bullish trend. Prices tried to breach the 110-SMA level at the starting of second half but were not able to do so and tested resistance there and we got a range-bound day. If we see on a higher time price are consolidating from past few days. In today’s session, an “Ascending Triangle” candlestick chart pattern has been formed, whose neckline is resting at 74.25 mark, even if prices breach this mark, there is another hurdle on the higher level of 74.3.3-74.35 where prices can test resistance, so it seems difficult for buyers to take prices at higher levels. On the downside, support zones are resting at 74.11-74.09 levels, if prices breach this zone with ample volumes, we may witness a further downfall till 73.90-73.88 zone which is the next major support area. Kshitij Purohit, Lead International & Commodities at CapitalVia Global Research

    09:34 (IST)28 Jun 2021
    Rupee to trade in a narrow range of 73.70-74.40 against US dollar

    Domestically, Indian stocks are steady as falling covid cases and rising vaccine numbers have boosted confidence in quicker economic recovery. However, any further lockdown restrictions on account of the third wave of Covid and continued rising oil prices could dent investor's sentiments. According to data from the Reserve Bank of India, India’s forex reserves declined by $4 billion to $603.93 billion in the past week. It will be watchful whether RBI shows any intervention for the decline of the rupee with its high reserves and control the losses in the rupee. Overall, uncertainty around the globe remains high with mixed views on inflation outlook and softer than expected economic data. Thus momentum in the rupee could also be trapped within its present narrow range of 73.70-74.40 levels. Amit Pabari, managing director, CR Forex Advisors

    09:32 (IST)28 Jun 2021
    MCX gold may touch Rs 47,100 per 10 gram today

    Outlook for gold is positive for intraday as US reported below forecast consumer spending figures on Friday and market may shrug off a rise in the US dollar. MCX gold for August future may touch Rs. 47,100 per 10 gram. Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Shares and Stock Brokers

    09:24 (IST)28 Jun 2021
    Nifty PSU Bank top sectoral gainer

    Barring Nifty IT and Nifty Media indices, all the Nifty sectoral indices were trading in the green, lead by gains in Nifty PSU Bank and Nifty Metal.

    09:23 (IST)28 Jun 2021
    Maruti, TCS, Infosys, Bharti Airtel shares fall

    Maruti Suzuki, TCS, Larsen & Toubro, Bajaj-Auto, Mahindra & Mahindra, Infosys, HCL Tech, Bharti Airtel were top index laggards.

    09:21 (IST)28 Jun 2021
    RIL, SBI, HDFC top Sensex gainers

    Asian Paints, Housing Development Finance Ltd (HDFC), State Bank of India, Reliance Industries Ltd (RIL), NTPC were among top Sensex gainers

    09:20 (IST)28 Jun 2021
    Sensex, Nifty hit record high on Monday

    BSE Sensex surged above 53,100, gaining over 100 points, to hit a fresh record high. While the broader Nifty 50 index jumped to scale a new record high of 15,915.

    09:05 (IST)28 Jun 2021
    Sensex hits all-time high, Nifty just shy of 16,000 in pre-open

    BSE Sensex surged above 53,000, gaining over 300 points in the pre-opening session. While the broader Nifty 50 index was just shy of 16,000, rising 130 pts.

    08:51 (IST)28 Jun 2021
    Watch out for 15,600 on downside; 15,900 on the upside for Nifty today

    Markets seem to open on a slight positive to the flattish note as indicated by the SGX Nifty. The Asia-pacific region opening before the Indian markets, has shown steadiness despite the surge in COVID-19 cases due to delta+ variant. Australian city Sydney imposed a two-week lockdown. Crude oil is edging higher and trading above $75 a barrel ahead of the OPEC+ meeting. The meeting is expected to announce a supply increase but it might fall short of the global demand. For Nifty the levels of 15,600 on the downside and 15,900 on the upside need to be watched closely. Mohit Nigam, Head, PMS - Hem Securities

    08:46 (IST)28 Jun 2021
    Nifty may hit 16,300 if it holds 15,900, Bank Nifty to trade in this range; TCS, Infosys in focus this week

    The chart pattern suggests that if Nifty crosses and sustains above 15900 level it would witness buying which would lead the index towards 16100-16300 levels. However, if index breaks below 15700 level it would witness selling which would take the index towards 15600-15500. Nifty is trading above 20 and 50 day SMAs which are important short term moving averages, indicating positive bias in the short term. Nifty is expected to remain in an uptrend to sideways zone until it breaks 10600 on the downside. For the week, we expect Nifty to trade in the range of 16300-15800 with a positive bias.

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    08:35 (IST)28 Jun 2021
    Petrol and diesel price today 28 June 2021: fuel rates unchanged; 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 left unchanged by oil marketing companies today, taking a breather after two consecutive hikes. Petrol price in Delhi today stands at Rs 98.46 per litre while Diesel in the capital city is retailing at Rs 88.90 per litre today. Rates have increased making it 31 times since May 4. The price of petrol in Delhi has increased by Rs 7.77, while diesel price has surged Rs 8.48 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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    08:29 (IST)28 Jun 2021
    Dodla Dairy, Krishna Institute of Medical Sciences, NTPC, Central Bank, IOB, Jet Airways stocks in focus

    Over 300 BSE-listed companies including NALCO, Aarvee Denims, Autoline Industries, Bartronics India, Eros International Media, Future Lifestyle Fashions, Federal-Mogul Goetze, Gammon India, GIC Housing Finance, IFCI, ISGEC Heavy Engineering, KPI Global Infrastructure, NLC India, Premier Explosives, Sadbhav Infrastructure Project, Surya India, Triveni Turbine, V2 Retail, Viceroy Hotels, Vivimed Labs, Welspun Corp, and Zee Media Corporation, will announce their January-March quarter earnings on June 28.

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    08:10 (IST)28 Jun 2021
    S&P 500 hit record high

    US stock indices on Wall Street, ended mixed on Friday. The Dow Jones Industrial Average rose 0.69 per cent, while the S&P 500 gained 0.33 per cent. The Nasdaq Composite dropped 0.06 per cent.

    08:09 (IST)28 Jun 2021
    Asian stock markets strade mixed

    Asian stock markets were trading mixed in early trade on Monday. Japan’s Nikkei 225 slipped in morning trade while the Topix index gained 0.11 per cent. Australian stocks also slipped, as the S&P/ASX 200 fell 0.32 per cent.

    08:09 (IST)28 Jun 2021
    Asian stock markets strade mixed

    Asian stock markets were trading mixed in early trade on Monday. Japan’s Nikkei 225 slipped in morning trade while the Topix index gained 0.11 per cent. Australian stocks also slipped, as the S&P/ASX 200 fell 0.32 per cent.

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