Economic Times | 29 Jun, 2021 | 11.11AM IST
Sensex, Nifty started Tuesday’s session on a sluggish note. RIL was the top Sensex performer, but selling pressure in bank stocks capped gains. Wipro was the top Nifty50 gainer in early deals, up nearly 1 per cent. Titan, Tata Motors, Asian Paints and RIL were among other blue-chip top performers. On the other hand, Britannia was the top laggard, down 0.67 per cent. HDFC Life, ONGC, ICICI Bank and M&M were among other losers. IFCI and Indian Bank dropped 5 per cent each in early trade.
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Indian Bank falls 6%. Here’s why
Shares of Indian Bank tanked 6 per cent after listing of shares allotted under qualified institutional placement (QIP). Indian Bank had raised a total of Rs 1,650 crore in the QIP in which shares were issued at Rs 142.15 apiece. The state-owned lender said it allotted 11,60,74,569 new equity shares to eligible qualified institutional buyers (QIBs) in the issue that opened on June 21 and closed on June 24.
IT a better defensive pick; don’t go overweight on pharma: Ajay Bagga
“One cannot expect blockbuster drugs from Indian pharma companies. We see a betrayal of investor trust. I would rather go with IT as my defensive global pick and would not go overweight on pharma at all,” says market expert Ajay Bagga.
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Top gainers and losers in the metals pack
Price as on 29 Jun, 2021 10:38 AM, Click on company names for their live prices.
Defensives like IT, FMCG and pharma in favour as traders avoid metals, auto and banks
Q3 results today
General Insurance Corporation of India, Indian Railway Catering and Tourism Corporation, Indian Railway Finance Corporation, Ruchi Soya Industries, NBCC (India), EID Parry, Finolex Cables, Suzlon Energy, KRBL, Angel Broking and Rail Vikas Nigam are among the companies that will announce their March quarter results today.
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Rain Technologies to launch marketplace platform for equity investments this week
The proposed marketplace Rain Trader will go live from July 1, and take on the segment peers like Smallcase, Tradetron and Algobulls.
Sensex slips over 150 points; ICICI Bank HDFC Bank and Infosys top drags
Asian stock markets under pressure over Delta virus variant
Australian and Japanese shares took the brunt of early losses, with the ASX/200 index down 0.76% and the Nikkei falling 0.91%. The South Korean market was 0.39% lower, and Chinese stocks were also down 1.06%.
Top gainers and losers in the broader market
Godrej Agrovet, Laurus Labs, Bharat Forge, Graphite India, SpiceJet and Firstsource Solutions were gainers from the space while Indian Bank, PNB Housing, Future Retail, Adani Total Gas, Bombay Burmah Trading and JSW Energy were under selling pressure.
Nifty Bank down over 140 points; ICICI Bank, Kotak Mahindra Bank top drags
Block deals in Godrej Agrovet and HDFC Life shares: ET Now
Fear gauge index India VIX slips 2% to 13.1
15,900 level is a strong resistance zone for Nifty now, say analysts
The strongest headwind for the market now is the continuous FII selling (Rs 1,659 cr in the cash market yesterday) which is logical in the context of the high valuations. With strong DII buying (Rs 1,277 cr in the cash market yesterday) and over-confident retail activity, FIIs are now in a position to sell aggressively without pulling the markets down significantly
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Profit booking seen in PSU bank stocks
Price as on 29 Jun, 2021 09:26 AM, Click on company names for their live prices.
Nifty Bank and Nifty Financial Services trading in red
How Sensex stocks are faring now
Opening Bell: Sensex adds 30 pts, Nifty50 flat; IFCI, Indian Bank drop 5% each
Pre-open session: Sensex gains 75 points, Nifty stays above 15,800
Hong Kong stocks open with small gains
Hong Kong shares opened slightly higher Tuesday morning following another record close on Wall Street but traders were moving cautiously as they monitor fresh virus flare-ups in parts of the world. The Hang Seng Index edged up 0.08 percent, or 23.59 points, to 29,291.89. The benchmark Shanghai Composite Index climbed 0.13 percent, or 4.69 points, to 3,601.68, while the Shenzhen Composite Index on China’s second exchange added 0.18 percent, or 4.34 points, to 2,468.00.
Japan retail sales rises for 3rd month
Japanese retail sales beat expectations in May as households loosened their purse strings, but underlying trends in consumption remain hostage to COVID-19-linked pressures and suggest the economic recovery will take time to gather steam. Retail sales jumped 8.2 per cent in May from a year earlier, the third straight month of growth, government data showed on Tuesday, a larger rise than the median market forecast for a 7.9 per cent gain.
SGX Nifty signals a flat start
Nifty futures on Singapore Exchange traded 0.5 points higher at 15,874.50, signaling that Dalal Street was headed for a flat start on Tuesday.
Tech View: Nifty50 bulls fail to top 15,900
Nifty50 on Monday hit an all-time high of 15,915 at open but tested the 15,800 level intraday, before closing the session near the day’s low. Analysts said the index would find immediate support in the 15,800-750 range. They believe a sustained close above 15,915 level should offer the bulls an edge.
Japan stocks open lower with eyes on US data
Tokyo stocks opened lower on Tuesday in subdued trade after a mixed close on Wall Street, with eyes shifting to key US economic indicators due later this week. The benchmark Nikkei 225 index was down 0.71 percent or 205.96 points at 28,842.06 in early trade, while the broader Topix index lost 0.82 percent or 16.04 points to 1,949.63.
US stocks settled mostly higher
Blue chip and key technology stocks on Wall Street hit record highs on Monday as investors bet on outsized US jobs gains for June. The S&P500 index raced to an all-time high of 4,292 before closing at 4,290, up 0.2 per cent on the day. The Nasdaq Composite index hit an all-time high of 14,505, before settling at 14,500, up almost 1.0 per cent. The Dow Jones Industrial Average fell on the day and finished down 0.4 per cent at 34,283.
Rupee ends flat at 74.19 per dollar
The rupee inched up 1 paisa to settle at 74.19 against the dollar on Monday amid firm crude oil prices and a lacklustre trend in domestic equities. At the interbank foreign exchange market, the rupee opened at 74.24 per dollar as against its previous close of 74.20. It hovered in a range of 74.18 to 74.27 during the day, before ending at 74.19 against the greenback.
Sensex, Nifty on Monday
Equity benchmark Sensex reversed early gains to close 189 points lower on Monday, pressured by Reliance Industries and IT stocks, as investors gave a lukewarm response to the government’s fresh stimulus measures for COVID-hit sectors. After touching a lifetime high of 53,126.73 in opening session, the 30-share BSE index ended 189.45 points or 0.36 per cent lower at 52,735.59. Similarly, the broader NSE Nifty settled 45.65 points or 0.29 per cent down at 15,814.70.