Market HIGHLIGHTS: Sensex posts record closing for 3rd straight session, Nifty ends above 15,850 for 1st time

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Updated: June 15, 2021 4:26:39 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: BSE Sensex and Nifty 50 ended at record closing highs for the third consecutive session on Tuesday

Share Market Today, Share Market LiveSectoral indices such as Nifty Metal, Nifty Pharma, Nifty PSU Bank fell up to 0.88 per cent

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 posted record closing highs for the third straight day on Tuesday. BSE Sensex ended at 52,773, up 221 points or 0.4 per cent while Nifty 50 index settled at 15,869, rising 57 points or 0.36 per cent. Asian Paints, Axis Bank, ICICI Bank, Hindustan Unilever Ltd, IndusInd Bank, Infosys, HDFC Bank, Nestle India were among top BSE Sensex gainers. On the contrary, Bajaj Finserv, Dr Reddy’s, Titan Company, SUn Pharma, Bajaj Finance, Power Grid Corporation of India, TCS, Tech Mahindra were among top draggers. Sectoral indices such as Nifty Metal, Nifty Pharma, Nifty PSU Bank fell up to 0.88 per cent. While Nifty Bank index gained 0.85 per cent and Nifty FMCG index 0.73 per cent.

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    15:37 (IST)15 Jun 2021
    Sensex, Nifty post record closing highs for 3rd straight session

    BSE Sensex ended at record closing high of 52,773, up 221 points or 0.4 per cent. Nifty 50 index settled at 15,869, rising 57 points or 0.36 per cent.

    15:29 (IST)15 Jun 2021
    Anand Rathi Financial Services on Dodla Dairy IPO

    Considering the company has a diversified product basket, strong brands and wide distribution network, we believe that the companywill continue to perform well on both the top-line and the bottom-line front. Hence we recommend investors to Subscribe to the issue from a longer term perspective. Anand Rathi Financial Services

    14:40 (IST)15 Jun 2021
    HDFC Securities view on KIMS IPO

    KIMS also conducts medical education programs through its affiliations with state medical boards and universities, for various broad and super specialties at its hospitals in Telangana at Secunderabad and Kondapur, including for DNB and post-doctoral fellowship programs. As of March 31, 2021, there were 230 students enrolled in DNB and post-doctoral fellowship programs. It also offers post-graduate, undergraduate and diploma programs that are affiliated with Kaloji Narayana Rao University of Health Sciences and the Telangana Para Medical Board. HDFC Securities

    14:02 (IST)15 Jun 2021
    Dodla Dairy IPO opens June 16: Grey market premium jumps ahead of public issue; should you subscribe?

    Dodla Dairy’s Rs 520-crore IPO will open for subscription on Wednesday, 16 June, in the price band of Rs 421-428 per share. The issue will close on June 18. The issue comprises fresh issue of equity shares worth Rs 50 crore and an offer for sale (OFS) of up to 1.09 crore equity shares of face value Rs 10 each. In the grey market on Tuesday, Dodla Dairy shares were quoting a premium of Rs 130-135 a share over the IPO price. 

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    13:46 (IST)15 Jun 2021
    If Nifty tops 15900, we can see a new rally with upside potential till 16150-16200

    Led by buying in some heavyweight stocks in early trade, Indian equity benchmarks stayed positive. Investors took a note of an SBI report that the fiscal condition of the Centre and the states will be substantially better than anticipated for FY22 if there is no third wave of Covid-19 epidemic, and the states may garner Rs 60,000 crore higher in tax receipts at Rs 8.27 lakh crore this fiscal year than they had projected. The S&P 500 and the Dow fell on June 14, a day after the S&P 500 set a new closing high, as investors awaited the Federal Reserve's meeting this week for clues on the central bank's inflation outlook and the future of asset purchases. The Indian market has been positive in the first half and has made an attempt to sustain above the level of 15850.15900 will act as a resistance in the short term. If the market breaches the level of 15900, we can see a new rally with an upside potential till the level of 16150-16200. Gaurav Garg, Head of Research, CapitalVia Global Research

    13:20 (IST)15 Jun 2021
    Buy these three stocks with strong support on charts; ICICI Direct sees as much as 15% upside

    Domestic headline indices, Sensex and Nifty recently reached fresh all-time highs once again. Dalal Street has been in control of bulls for the majority of the trading sessions since April last year. Although there have been corrections, none has lasted long enough or been sharp enough to invoke fear among investors. However, treading cautiously when markets reach record highs might be the correct way forward. Amid this, domestic brokerage and research firm ICICI Direct has handpicked three shares as its ‘Gladiator stocks’ that find strong technical support on the charts along with robust fundamentals. 

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    13:03 (IST)15 Jun 2021
    $526 billion export opportunity for small businesses, thanks to Covid-led digital adoption, says PayPal

    Pandemic-induced growth in e-commerce adoption and digital payments, which has enabled seamless cross-border trade, represents a $526 billion opportunity in exports for small businesses to benefit, according to a PayPal study. Of this, nearly 60 per cent of exported items are goods which represents a $313 billion market for India’s local artisans of tribal products, handicrafts, or small exporters of gems & jewellery.

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    12:46 (IST)15 Jun 2021
    Brokerage view on Sona BLW IPO

    Tightened cost control measures aided EBITDA and PAT. Given the criticality of its component offerings in India as well as globally, the company enjoys a higher gross/EBITD margins of 59%/28% respectively. Low leverage despite capex intensive nature of the business has boosted its return ratios (ROE of 17%). Its deep-rooted relationships with OEMs (10-25 years) makes it a compelling growth story. With  increased penetration of Battery electric vehicles, the company could see an uptick in content per vehicle over next few years. At the upper price band of Rs 291, the offer is priced at 74.1x/55.6x/41.4x EPS on FY21/22e/23e EPS on our estimates. We assign a  SUBSCRIBE rating to the offer. INDSEC

    12:08 (IST)15 Jun 2021
    Angel Broking on KIMS IPO

    FY-2021PE of 31.2x and EV/EBITDA of 17.8x, at upper end of the IPO price band is slightly better than the peer companies. Similarly, the company has one of the best ROE & ROCE of 23.8% and 24.8% respectively. Company has a very healthy balance sheet with negative Net Debt/ Equity. We believe that the upcoming expansion plan in Bangalore & Chennai can be funded through internal accruals and minimum amount of debt.  We are assigning a “Subscribe” recommendation to the issue.

    11:51 (IST)15 Jun 2021
    Broad-based surge in CPI inflation

    CPI inflation surprisingly surpassed the RBI’s target band, amid higher food and core inflation, despite weak demand. We expect the RBI to continue to focus on supporting growth as a large part of the increase in inflation is supply-driven and hence transitory in nature. As growth starts normalizing from July, RBI’s ability to ignore inflationary risks will be restricted, prompting gradual monetary policy normalization from October. Kotak Institutional Equities

    11:27 (IST)15 Jun 2021
    Franklin Templeton CEO, fund managers fined Rs 15 cr by SEBI; forensic audit reveals discrepancies

    Capital markets regulator SEBI (Securities and Exchange Board of India) has fined Franklin Templeton Trustee Services; FT AMC CEO Sanjay Sapre; and seven others to the tune of Rs 15 crore, in the matter relating to the abrupt closure of six debt mutual funds schemes last year. SEBI in its order said that the evidence seen by it does not indicate that the Trustees had exercised high standards of service, exercised due diligence, ensured proper care and exercised independent professional judgment to address risks. Earlier last week, SEBI had fined Franklin Templeton and asked it to return Rs 512 crore in management and advisory fees to investors.

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    10:39 (IST)15 Jun 2021
    Nifty seems headed to 15900-16000

    The index continues its bullish trajectory and seems headed to 15900-16000. Despite multiple sessions of nervousness, the Nifty has been successful in respecting the 15700-15750 levels of support. As long as we do not break that on a closing basis, this trend is here to stay. The best way to ride this trend will be to accumulate long positions on dips. That would be the most prudent way of being a part of the larger trend. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    10:20 (IST)15 Jun 2021
    Videocon share price hits 5% upper circuit

    Videocon share price hit 5% upper circuit on BSE even as the National Company Law Tribunal (NCLT) approved Vedanta Group's Twin Star Technologies' resolution plan for Videocon Industries Ltd. As per the resolution plan, Videocon Industries will be delisted.

    10:16 (IST)15 Jun 2021
    Gold Price Today, 15 June 2021: Gold below Rs 49,000 ahead of US Fed meet; analysts advise ‘sell on rise’

    Gold prices in India were struggling on Tuesday, as yellow metal in the international market steadied. Investors awaited the US Federal Reserve meeting for further clarity on rising inflation and monetary policy going forward. On Multi Commodity Exchange, gold August futures were trading Rs 20 up, at 48,543 per 10 gram, as against the previous close of Rs 48,523 per 10 gram. Silver July futures, on the other hand, were down Rs 521 or 0.72 per cent at Rs 71,358 per kg.

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    09:59 (IST)15 Jun 2021
    IPO watch: Shyam Metalics issue oversubscribed; Sona Comstar’s offering subscribed 11% on day-1

    On the initial day of the bidding process, Shyam Metalics’ initial public offering was oversubscribed by investors. On the other hand, Sona Comstar’s IPO was subscribed 11%. Of the two, Sona Comstar is the larger offering -- over 5 times the size of Shyam Metalics. Retail investors were upbeat on both the IPOs, tuning out to be the largest bidders so far. After a long pause, the IPO market saw two fresh public offerings open for subscription yesterday amid volatile market momentum. So far in this financial year, investors have seen only two other IPOs hit the street.

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    09:31 (IST)15 Jun 2021
    Indian rupee may rebound sharply above 73.80-74 in coming days

    Domestically, broad dollar strength and rising oil prices have hurt the rupee in past trading sessions. Besides that, a spike in India's retail price inflation to a six-month high of 6.3% in May, breaching the Reserve Bank of India's target range after five months; while a jump in wholesale prices by 12.94% in May could further dent investor sentiments. However, the only ray of hope to support the rupee is the FII inflows on account of upcoming IPO’s and QIP’s that could cap sharp losses thereon. Overall, we expect the USDINR pair to form a base near 73.20-30 and rebound sharply above 73.80-74.00 levels in upcoming days. Amit Pabari, managing director, CR Forex Advisors

    09:29 (IST)15 Jun 2021
    Paras Defence and Space Technologies gets SEBI nod to launch IPO; firm mulls pre-IPO placement

    Paras Defence and Space Technologies has received capital markets regulator SEBI’s approval to launch an IPO. The public issue comprises fresh issue of shares worth Rs 120 crore and an offer-for-sale (OFS) of up to 17.24 lakh shares by promoters and existing shareholders. The company may also consider a pre-IPO placement of equity shares to the tune of Rs 35 crore, prior to the filing of the red herring prospectus. 

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    09:26 (IST)15 Jun 2021
    Zerodha's Nikhil Kamath says sorry for taking computer's help to beat Viswanathan Anand in chess

    It was a high-profile fund-raiser that had all the ingredients of a blockbuster: five-time former world champion Viswanathan Anand taking on Bollywood star Aamir Khan, singers Arijit Singh and Ananya Birla, cricketer Yuzvendra Chahal, young billionaire Nikhil Kamath, and film producer Sajid Nadiadwala — all at the same time.

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    09:19 (IST)15 Jun 2021
    Sensex, Nifty at record high levels

    BSE Sensex gained over 200 points to scale a new all-time high of 52,785.03, while Nifty 50 index hit a fresh record high of 15,869.10

    09:14 (IST)15 Jun 2021
    Paras Defense And Space Technologies gets SEBI approval to float IPO

    Paras Defense And Space Technologies has received market regulator Securities and Exchange Board of India’s (SEBI) nod for the Initial Public Offering (IPO) route. The company had filed DRHP with SEBI on March 9, 2019. The Issue comprises fresh issue of equity shares worth up to Rs 120 cr and an OFS of up to 17.24 lakh equity shares by Promoter Selling Shareholders and Individual Selling Shareholders.

    08:51 (IST)15 Jun 2021
    MCX, gold, silver may start weak on Tuesday

    Domestic gold and silver prices could start weaker on Tuesday morning, tracking overseas prices. On the domestic front, if MCX Gold August trades below 48500 levels we could witness a continuation of Bearish momentum up to 48350-48000 levels. Resistance is at 48600-48800 levels. MCX Silver July holds support near 71100-70500 levels. Resistance is at 72000-73200 levels. Sriram Iyer, Senior Research Analyst at Reliance Securities

    08:43 (IST)15 Jun 2021
    FII and DII trades

    Foreign Institutional Investors (FII) were net sellers of domestic stocks on Monday, pulling out Rs 503 crore. Domestic Institutional Investors (DII) were net buyers, pumping in Rs 503 crore. 

    08:39 (IST)15 Jun 2021
    Call, PUT open interest data

    16000 strike has maximum Call OI, followed by 15800 strike. Highest Put OI is at 15000 which is followed by 15600 strike.

    08:34 (IST)15 Jun 2021
    Bharti Airtel, Coal India, Jubilant FoodWorks, Reliance Power, PNB Housing, Adani group stocks in focus

    BSE-listed companies such as LIC Housing Finance, Easy Trip Planners, Entertainment Network (India), Jubilant FoodWorks, Power Finance Corporation, Flexituff Ventures International, India Home Loan, JMD Ventures, BLS International Services, Centum Electronics, Lemon Tree Hotels, Manaksia, Salzer Electronics, Spencers Retail, and Whirlpool of India, will announce their January-March quarter earnings on June 15.

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    08:27 (IST)15 Jun 2021
    Petrol and diesel price today 15 June 2021: Rates steady at record highs; Check prices in Delhi, Mumbai here

    Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel were left unchanged on Tuesday, after having seen a rate revision just a day ago. Petrol price in Delhi today costs Rs 96.41 per litre, while diesel in the capital city is retailing at Rs 87.28 per litre today. Rates have been hiked 24 times since May 4. The price of petrol in Delhi has increased by Rs 5.72, while diesel price has surged Rs 6.25 per litre since the rate revision began. 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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    08:03 (IST)15 Jun 2021
    Dow Jones, S&P 500 ease on Monday

    US stock indices on Wall Street ended mixed in overnight trade on Monday. The Dow Jones Industrial Average fell 0.41 per cent, the S&P 500 lost 0.14 per cent, and the Nasdaq Composite gained 0.29 per cent.

    08:03 (IST)15 Jun 2021
    Asian stock markets mixed

    Asian stock markets were trading mixed in early trade, with Australian stocks gaining over 1 per cent. Japan’s Nikkei 225 gained 0.82 per cent while the Topix index advanced over half a per cent. South Korea’s Kospi fell 0.09 per cent.

    08:02 (IST)15 Jun 2021
    SGX Nifty flat in early trade

    Nifty futures were trading flat at 15,835.50 on Singaporean Exchange on Tuesday

    08:02 (IST)15 Jun 2021
    Retail inflation hits 6-month high in May on costlier food, fuel; wholesale inflation at record 12.94%

    Rising prices of edible oils and protein rich items pushed the retail inflation to a six-month high of 6.3 per cent in May, breaching the comfort level of the Reserve Bank and thus rendering reduction in interest rates a difficult proposition in the near term. The government has asked the Reserve Bank to keep the retail inflation at 4 per cent with a margin of 2 per cent on either side.

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