Share Market News Today | Sensex, Nifty, Share Prices Highlights: After fluctuating between gains and losses, Indian benchmark indices ended in green on Thursday amid mixed global cues. On the day of weekly F&O expiry, BSE Sensex index hit a high of 52,517 and a low of 51,633 during the day before it closed 443 points, or 0.86% higher at 52,266. The Nifty 50 gyrated between 15,368 and 15,628 before it eventually settled at 15,557, up 143 points or 0.9%. Sectorally, the Nifty Auto index was the only notable gainer. Other indices added up to 2%, except the Nifty PSB index which closed 0.25% down. In the broader markets, the BSE MidCap and SmallCap indices outrun the frontline indices, rising up to 1.4%.
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After fluctuating between gains and losses, Indian benchmark indices ended in green on Thursday amid mixed global cues. On the day of weekly F&O expiry, BSE Sensex index hit a high of 52,517 and a low of 51,633 during the day before it closed 443 points, or 0.86% higher at 52,266. The Nifty 50 gyrated between 15,368 and 15,628 before it eventually settled at 15,557, up 143 points or 0.9%.
Tea cafe chain Chaayos on Thursday said it has raised USD 53 million (around Rs 414 crore) for tech-enhancement, hiring and store expansion as it plans to add 100 stores by the end of this year. The company said the funding round was led by Alpha Wave Ventures with participation from all existing investors — Elevation Capital, Tiger Global and Think Investments. Read full story
The price of Polygon (Matic) cryptocurrency token has jumped over 30 per cent in the last few days. In the last 24 hours itself, Matic price has increased by over 26 percent. At the time of writing, the Matic token was trading at $0.5037, according to data on CoinMarketCap. Read full story
Indian markets opened on positive note following Asian market peers which were trading mostly green led by China. During the afternoon session markets trimmed some of their gains as European markets struggled to shrug off recession fears but managed to trade in green. Buying in frontline stocks such as Maruti Suzuki, Asian Paints and Bharti Airtel were aiding sentiment, while selling in Power Grid, Titan Co and NTPC kept the gains in the markets in check. Traders were encouraged as Prime Minister Modi said the government expects the Indian economy to grow by 7.5% this year. Additional support came with RBI data showing that the country's foreign exchange reserves in nominal terms, including valuation effects, rose by $30.3 billion in 2021-22 fiscal against $99.2 billion expansion in FY2020-21.
~Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers
Infosys shares have plunged 25 per cent so far this year amid, underperforming benchmark Nifty 50 which has tumbled 12%. Despite the steep correction in the stock, it has managed to outperform Nifty IT which has plummeted 29% so far this year. Domestic brokerage firm Sharekhan remains bullish on the stock and sees up to 20% potential rally going forward. “Infosys is well positioned to capture opportunities even in case of increased focus on cost efficiencies by enterprise clients to reduce costs in a deteriorating macro environment. We expect Infosys to continue to deliver industry-leading organic revenue growth among large peers in FY2023E,” the brokerage report said.
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Nifty Metal index shed 0.5 per cent dragged by NALCO, Ratnamani Metals, Vedanta
Benchmark indices turned green after briefly slipping into red. Sensex rose 300 points, while Nifty 50 was hovering near 15500.
Ajanta Pharma extended fall intraday as it slipped 2%. The stock turned ex-bonus on Wednesday. The company had fixed June 23, 2022 as the record date for the bonus issue in the proportion of one equity share for every two equity shares held.
Sensex slips into red, drops 650 points from day's high
Nifty falls below 15,400
Vodafone Idea (Vi) has opted for a four year moratorium on payment of Rs 8837 crore in AGR dues in addition to one exercised last year. Similarly, the telecom company has the option to convert interest on deferred amount into additional equity to government. The government is set to own 33 per cent stake in Vi following an earlier decision to convert interest with net present value of interest worth Rs 16,000 crore into equity.
Sensex is up 326.94 points or 0.63% at 52149.47, and the Nifty added 106.20 points or 0.69% at 15519.50.
Auto stocks witnessed across-the-board buying in trades so far. Maruti Suzuki and Hero MotoCorp were the top gainers, up around 5 per cent each. Bajaj Auto and Mahindra & Mahindra rallied nearly 3 per cent each.
Shares of Acrysil zoomed over 12 per cent after the company announced doubling its supply of Quartz kitchen skinks to IKEA supply AG, which is a part of international IKEA Group Sweden for their global requirement. The production of kitchen sinks for IKEA will start at the end of July and the supply will begin in August.
Responsive Industries was the top gainer among the BSE 500 stocks so far, locked at the 20 per cent upper circuit. IRB Infra Developers, Triveni Turbine, Sapphire Foods and Chmplast Sanmar were the few of the other major gainers.
Brightcom Group has shed 5 per cent and was the top loser so far among the BSE 500 stocks. MRPL, ITI, Tanla Platforms and BASF India were few of the other notable losers
Indian Hotels (IH) FY22 annual report highlights the company's efforts to grow its existing and new businesses, improve its margins and deploy its capital efficiently to generate better returns. IH has introduced AHVAAN 2025 strategy under which it expects to reach a portfolio of 300 hotels, increase management contract share, grow beyond tradition hotel business and expand new businesses. AR also highlighted reduction in corporate overheads by 28% at INR2.5b in FY22 led by optimization through redeployment, multiskilling, restructuring and prudent allocation of resources. Motilal Oswal Financial Services
The board of telecom major Vodafone Idea on June 22 approved the plan to raise a fund of Rs 436 crore from a Vodafone Group entity, via issuance of up to 42.76 lakh equity shares or warrants convertible into equity shares. Vodafone shares rose 1% intraday.
Glenmark Pharma slipped around 4 per cent after the US FDA issued form 483 with 6 observations for the company's Baddi unit.
Benchmark indices were trading higher with Nifty above 15500. The Sensex was up 488.92 points or 0.94% at 52311.45, and the Nifty was up 151.20 points or 0.98% at 15564.50. About 2028 shares have advanced, 640 shares declined, and 95 shares are unchanged.
Gold prices in India were trading lower on Thursday, on the back of weak global cues after US Fed chair Powell reaffirmed inflation fight. On Multi Commodity Exchange, gold August futures were trading Rs 134 or 0.3 per cent up at Rs 50,770 per 10 gram. Silver July futures were ruling at Rs 60,178 per kg, down Rs 470 or 0.8 per cent on MCX, Globally, yellow metal prices were a touch lower on with some support from a weaker dollar and U.S. Treasury yields, after the Federal Reserve’s head said the central bank was fully committed to reining in inflation, and would try not to spark a recession in the process, according to Reuters. Read full story
“Fall in crude oil prices helping Indian markets. Nifty is well above resistance of 15,550, we should head towards retest of 15,700.”
~Rahul Sharma Head Technical & Derivatives Research, JM Financial
Bajaj Auto stock rose 3 per cent after the company said its board will meet on Monday to further deliberate on the previously deferred share buyback plan.
Oil prices continued to pull back on Thursday, dropping more than 2% as investors recalibrated assessments of recession risks and fuel demand amid interest rate hikes in major economies. U.S. West Texas Intermediate (WTI) crude futures had skidded $2.6, or 2.7%, to $103.46 a barrel by 0330 GMT. Brent crude futures slid $2.5, or 2.3%, to $109.22 a barrel. Both benchmarks tumbled by as much as $3 a barrel in the early morning of Asian trading, after plunging around 3% in the previous session. They are at their lowest levels since mid-May.
Vodafone Group Plc will infuse an additional Rs 436 crore into Vodafone Idea (Vi) through equity shares or warrants.
The National Highways Authority of India (NHAI), after a Delhi High Court order, has paid Rs 308 crore to IRB Pathankot Amritsar Toll Road Ltd (IRPRL), a special purpose vehicle (SPV) of IRB Infrastructure Developers, over a dispute in payment related to the Pathankot-Amritsar project.
India’s largest software firm TCS has bagged a deal to drive business process transformation at Aadhar Housing Finance for an undisclosed sum, the companies said on Wednesday. The domestic housing financier will be deploying the Tata group company’s lending and securitisation platform for market expansion, according to a statement.
BSE SmallCap index outruns peers, advances 1%; BSE MidCap index rises 0.85%
Indian rupee opened 13 paise higher at 78.25 per dollar on Thursday against previous close of 78.38.
Hero MotoCorp, Bajaj Auto, Bharti Airtel, Wipro and Divis Labs were among major gainers on the Nifty, while losers were Apollo Hospitals, ONGC, Titan Company, Power Grid Corporation and SBI Life Insurance.