11 Jun 2024 | 10:48:27 AM IST
Indian benchmark equity indices started slightly lower on Tuesday, mainly due to weakness in financial stocks, as investors awaited the Federal Reserve’s policy decision and consumer price inflation data scheduled for Wednesday.
Highlights of trade:
- IndiGo promoters likely sell 2% stake via block deal; stock drops 3%
- IRB Infra falls 8% as Cintra is likely to sell around 5% stake
- Morgan Stanley maintains underweight stance on Tata Chemicals
- Jefferies reiterates a buy rating on ONGC
Market View by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
“A strong pillar of support for this bull market has been the mutual fund industry which is witnessing sustained inflows. The Rs 34697 crore net inflows into equity funds in May and monthly SIP inflows touching Rs 20904 in May indicate that this domestic support to the market will continue despite the FII selling. FIIs turning buyers during the last two days and covering their shorts will support the market in the near-term.
BJP keeping the key portfolios signals continuity in policies. This is a positive from the market perspective. From the fundamental perspective, the 25% increase in corporate profitability in FY24 augurs well for the market.”
Show more Show less
Sensex Today | Stock Market LIVE Updates | CBI searches PNC Infra offices, summons MD Yogesh Jain: Media reports
PNC Infra stock slumped up to 10% on news of CBI search at the company’s offices.
Price as on 10.48.25 AM, Click on company names for their live prices.
Sensex LIVE Updates | Sensex experiences sharp upmove, climbs 200 pts
After opening on a lackluster note the 30-share index rose 200 points.
Sensex Today | Stock Market LIVE Updates | Mphasis Javelina selects HPE GreenLake cloud withHPE Alletra Storage
Mphasis Javelina selects HPE GreenLake cloud with HPE Alletra Storage, to accelerate IT transformation and strengthen security environment for its healthcare client
Price as on 10.36.04 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | L&T TechnologyServices partners with IIT Hyderabad to work in ADAS andC2VX Communication
Price as on 10.21.06 AM, Click on company names for their live prices.
Nifty outlook: The turn lower yesterday is in line with the exhaustion suggested by standard deviation studies. However, the distribution therewith does not seem strong enough to embark on a 22600 move. Instead, the bearish bias is more likely to ease into a consolidation mode, without breaking 23050-22950 region, while making re attempts to resume uptrend. Alternate scenario for bullish case sees a direct rise above 23360, that would put Nifty back on to the 23530-24130 trajectory.
– Anand James, Chief Market Strategist,Geojit Financial Services.
Stock Market LIVE Updates | IndiGo promoters likely sell 2% stake in Rs 3,700 crore block deal
In the Bhatia family’s first post-IPO stake sale, IndiGo promoters reportedly sold around 2% of the airline for approximately Rs 3,700 crore in a block deal. Following this transaction, the stock experienced a decline of around 3%.
During the block window, a significant transaction involving 83.7 lakh shares of InterGlobe Aviation was observed, with shares trading at a price of Rs 4,406 per unit.
Stock Market LIVE Updates | BROKERAGE RADAR: BofA strategy on new cabinet formation
- We see scope for continued capex momentum
- NDA policies have been pro- reforms
- Strong fiscal: Capex & Populism can coexist
- See scope to step-up leverage for capex; Repurposing of capex mix likely
- Continue to prefer Investments over Consumption
- Move Staples to marketweight; we see low potential for Staples to outperform
- Trim our weighting of the industrials sector
- Continue to favor Financials, Autos, Cement, Non-ferrous metals (Source: ETNow)
Sensex Today | Stock Market LIVE Updates | BROKERAGE RADAR: MORGAN STANLEY EMERGING MARKETS STRATEGY
- Stay overweight Japan, India & Singapore
- Downgrade Mexico and Indonesia
- Upgrade South Africa
- India remains preferred pick in APxJ/EM
- India remains a secular opportunity
- BJP-led coalition likely to re-double their focus on growth rather than shift toward redistribution
- Expect volatility to settle back down (Source: ETNow)
Forex news | Rupee rises in early trade
Rupee rises 1 paisa to 83.49 against US dollar
Sensex Today | Stock Market LIVE Updates | NHPC, Tata Steel among top movers in morning trade
Price as on 09.22.53 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Block deal in Honasa Consumer: 2% equity changes hands
Price as on 09.42.29 AM, Click on company names for their live prices.
Stock Market LIVE Updates | BLOCK DEAL: IndiGo’s 2% equity traded
Price as on 09.21.11 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Opening Bell
Sensex drops 100 pts, Nifty below 23,300; IRB Infra declines 8%, IndiGo 3%
Sensex Today | Stock Market LIVE Updates | Block deal in IRB Infra: 1.75 crore shares traded in pre-open
Stock Market LIVE Updates | Brokerage Radar: JPMorgan on IT sector
- Channel checks suggest no signs of spring
- Prefer defensives and high-growth names
- Demand subdued and unchanged, poor visibility on recovery
- Cost takeout deals dominate; small deals missing
- Captive hiring has turned stronger
- GenAl PoCs are strongly in BFSI
- We prefer defensive stocks such as TCS/INFO, and fast growing companies, such as PSYS/COFORGE/LTTS
Sensex Today | Stock Market LIVE Updates: Sensex rises 129 points, Nifty above 23,250 in pre-open
“A strong pillar of support for this bull market has been the mutual fund industry which is witnessing sustained inflows. The Rs 34697 crore net inflows into equity funds in May and monthly SIP inflows touching Rs 20904 in May indicate that this domestic support to the market will continue despite the FII selling. FIIs turning buyers during the last two days and covering their shorts will support the market in the near-term. BJP keeping the key portfolios signals continuity in policies. This is a positive from the market perspective. From the fundamental perspective, the 25% increase in corporate profitability in FY24 augurs well for the market.”
– V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Sensex Today | Stock Market LIVE Updates | GIFT Nifty signals a positive start for D-Street
Gift Nifty (Earlier SGX Nifty) signals a positive start.
Nifty futures on the Gift Nifty traded 55 pts or 0.23% higher at 23,283.
Sensex Today | Stock Market LIVE Updates | Dollar firm ahead of key inflation test, Fed forecast update
On Tuesday, the dollar remained close to a one-month high against the euro and reached a one-week peak against the yen. Traders were preparing for significant U.S. inflation figures and updated interest rate projections from the Federal Reserve scheduled for the next day.
The dollar’s strength was bolstered by increased Treasury yields following unexpectedly strong employment data in the U.S. towards the end of the previous week. This led to a significant reduction in expectations for Federal Reserve interest rate cuts this year.
Sensex Today | Stock Market LIVE Updates | Oil prices extend rally on potential U.S. crude purchase for reserve
On Tuesday, oil prices saw an increase, building on the momentum from the previous day, driven by expectations of increased seasonal fuel demand and the possibility of the United States buying crude for its petroleum reserve. However, the rise was limited by a stronger dollar.
Brent crude futures edged up by 28 cents, or 0.3%, reaching $81.91 per barrel by 0038 GMT, while U.S. West Texas Intermediate crude futures climbed 31 cents, or 0.4%, reaching $78.05.
Sensex Today | Stock Market LIVE Updates | D-Steert recap
Domestic benchmark equity indices ended lower on Monday, dragged down by IT stocks on US rate cut concerns, easing from record highs hit at the open as markets took a breather after a sharp post-election results rally.
The NSE Nifty 50 index fell 0.13% to 23,259, while the S&P BSE Sensex settled 0.27% lower at 76,490. Both the benchmarks rose about 0.5% each at the open and hit record high levels before surrendering gains.
Read more at:
https://economictimes.indiatimes.com/markets/stocks/news/ahead-of-market-10-things-that-will-decide-d-street-action-on-tuesday/articleshow/110881022.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Sensex Today | Stock Market LIVE Updates | Global Currencies
- The euro was little changed at $1.0764
- The Japanese yen was little changed at 157.17 per dollar
- The offshore yuan was little changed at 7.2698 per dollar
Sensex Today | Stock Market LIVE Updates | Global Markets Wrap
- S&P 500 futures fell 0.1% as of 10:28 a.m. Tokyo time
- Nikkei 225 futures rose 0.4%
- Japan’s Topix rose 0.3%
- Australia’s S&P/ASX 200 fell 1.3%
- Hong Kong’s Hang Seng fell 1.1%
- The Shanghai Composite fell 0.3%
- Euro Stoxx 50 futures rose 0.2%
