Sensex Today | Stock Market LIVE Updates: GIFT Nifty signals negative start; Asian shares mixed

24 Jun 2024 | 09:49:24 AM IST

Sensex Today | Stock Market LIVE Updates: Indian benchmark indices traded in red on Monday, breaking its streak of 3 weekly gains. HDFC Bank, RIL and SBI led the losses.

The weakness was led by selling pressure in banks and metal stocks while FMCG and consumer durables saw some buying amid sectoral rotation.

Show more Show less

Gold and silver prices experienced significant volatility and dropped from their recent highs last week due to disappointing U.S. housing data and a strengthening dollar index. U.S. existing home sales remained steady at 4.11 million units in May, slightly down from 4.14 million units in the previous month, representing a 2.8% year-over-year decline. The dollar index surged to nearly a two-month high, exerting downward pressure on gold and silver prices. Also, hawkish comments from a U.S. Federal Reserve member regarding interest rate cuts further contributed to the decline in precious metal prices. Despite this, gold prices may find support from continued buying by global central banks, while industrial demand could stabilize silver prices at lower levels. Gold has support at $2,905-$2,888 and resistance at $2,342-$2,360. Silver has support at $29.18-$28.88 and resistance at $29.68-$29.84. In INR, gold has support at Rs 71,380-70,210 and resistance at Rs 71,810-71,950. Silver has support at Rs 88,340-87,780 and resistance at Rs 89,720-90,500.

– Rahul Kalantri, VP Commodities, Mehta Equities Ltd

Sensex Today | Stock Market LIVE Updates | MAS Financial Services raises 500 crore via QIP

Price as on 09.35.53 AM, Click on company names for their live prices.

Forex News | Rupee rises in early trade

Rupee rises 12 paise to 83.45 against US dollar.

Sensex Today | Stock Market LIVE Updates | Infibeam Avenues collaborates with Entrepreneurship Development Institute Of India

The collaboration is to accelerate artificial intelligence adoption for enterprises, MSMEs and start-ups

Price as on 09.29.57 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Tide Water Oil Co India gets application for pre- dealing approval from Standard Greases & Specialities

Stock rises 3%

Price as on 09.26.57 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Sprayking Agro Equipment to recommend issue of bonus shares

Price as on 09.25.51 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Block trade in CarTrade: 39.4 lakh shares traded; stock down 3%

Price as on 09.23.44 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Mazagaon Dockyard in advanced talks with Defence Ministry for Rs 35,000 crore Kalvari submarine deal

Price as on 09.22.50 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Oriana Power gets order worth Rs 13.19 crore

Price as on 09.21.47 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Ujjivan SFB, Tata Steel among top movers in morning trade

Price as on 09.20.16 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Opening Bell

Sensex declines 400 pts, Nifty below 23,400; Delta Corp falls 7%, Suzlon jumps 4%

Sensex Today | Stock Market LIVE Updates | Stocks in news: TVS Motor

TVS Motor has entered into an agreement with CSC Grameen eStores for its commercial vehicle range, specifically focusing on three-wheelers.

Price as on 09.12.47 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Stocks in news: Cipla

Cipla’s Goa manufacturing facility has received six inspectional observations in Form 483 from the US FDA.

Price as on 09.11.41 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Stocks in news: Lupin

Lupin has received an Establishment Inspection Report (EIR) from the USFDA for its manufacturing facility in New Jersey, indicating voluntary corrective actions.

Price as on 09.10.25 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Sensex drops over 300 points, Nifty below 23,400 pre-open

Sensex Today | Stock Market LIVE Updates | Stocks in news: Prestige Estates

The Board of Prestige Estates has endorsed a plan to raise Rs 5,000 crore through the issuance of equity shares via a qualified institutional placement (QIP).

Price as on 09.09.02 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Stocks in news: Adani Ports

Adani Ports has joined the S&P BSE Sensex starting today, replacing Wipro which has exited the 30-stock index as part of the semi-annual reshuffle.

Price as on 09.07.24 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Stocks in news: SAIL

Steel Authority of India Limited (SAIL), a standout in the public sector enterprise sector, is implementing work flexibility and agility for its workforce of over 55,000 employees.

Price as on 09.05.35 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Stocks in news: Thomas Cook India

Thomas Cook (India) expressed confidence that the travel industry’s demand and spending will maintain its current growth trajectory for the next four to five years, suggesting that only an unforeseen and highly unlikely event could disrupt this momentum.

Price as on 09.02.33 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Brokerage Radar: Goldman Sachs on TBO Tek

Initiate Buy with target price of Rs 1970.
Consolidating demand-supply in a large, fragmented total addressable market.
Business model as having multiple positive characteristics.
Positives – asset light balance sheet, negative working capital, strong FCF generation, and low competition/regulatory risks.
Company’s India business as indexed to the growth in ‘Affluent India’ the growth.

Sensex Today | Stock Market LIVE Updates | Brokerage Radar: Kotak Securities on Apollo Hospitals

Maintain Add with Target Price of Rs 6735.
All set for the next leg of growth.
Guiding for robust 8% YoY patient volume growth in FY25.
Aiming to create a retail healthcare powerhouse with Apollo Healthco.
View the Keimed merger as a step in the right direction.
Preferred hospital pick. (Source: ETNow)

Downside attempts failed to penetrate past 23420 last week, despite multiple attempts, but they have indeed made this key region vulnerable. Favoured view expects slippage past the same this week, with eyes on 23100-22700. Mid-week reversal attempts would have to force a close above 23580-630 region to rekindle the 23960-24130 hopes.

– Anand James, Chief Market Strategist,Geojit Financial Services

The consolidation phase in the market is likely to continue. The near-term strength in the market is likely to come from Bank Nifty assisted by institutional buying notably from FIIs who have turned buyers last week. However, SEBI investigation in the Quant Mutual Fund is a slight sentiment negative for the market.The sectoral churn happening in the market might accelerate since profit booking is happening in some overvalued sectors and money is flowing into fairly valued largecaps. There is a likelihood of the rupee turning stable with a positive upward bias in the near term on expectations of big debt inflows after the inclusion of India in the Global Bond EM Index later this month. This can act as a trigger for more FII inflows into equity, going forward.

– Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Sensex Today | Stock Market LIVE Updates | Brokerage Radar: Jefferies on Havells

Maintain Hold with Target Price of Rs 1800.
Key drivers for Lloyd margin could be normalizing adspend, capacity utilization and cost savings.
FY24 saw strong B2B demand, but witnessed capacity constraint in cables.
New capacity (+25% increase) is est to commission in June 25.
Expect +21% EPS CAGR over FY24-27, led by margin revival. (Source: ETNow)

Sensex Today | Stock Market LIVE Updates | Brokerage Radar: Morgan Stanley on Internet Stocks

Despite a sharp re-rating we are still constructive on India internet stocks.
Macro and micro factors are aligned for India internet stocks.
Rising dispersion of stock returns implies even greater focus on stock selection.
Framework weighs operating environment, track record, outlook, and valuation.
Zomato and PB Fintech ahead of others. (Source: ETNow)

Sensex Today | Stock Market LIVE Updates | Quant Mutual Fund says responding to regulator queries

India’s Quant Mutual Fund said in a statement to its investors it is responding to queries received from the country’s market regulator, without specifying the nature of the enquiries.

Local news website Money Control had reported on Sunday evening that the Securities and Exchange Board of India (SEBI) was investigating allegations of “front running” – or dealing on price-sensitive information before its general release – at the mutual fund.

Sensex Today | Stock Market LIVE Updates | D-Street Recap

On Friday, Indian benchmark equity indices closed lower as profit booking set in after reaching record highs. However, they still secured a third consecutive week of gains, bolstered by a surge in financial stocks and renewed interest from foreign investors.

The NSE Nifty 50 declined by 0.28% to close at 23,501, while the S&P BSE Sensex dropped 0.35% to end at 77,210. Despite the daily losses, both indices managed to post overall gains for the week.

Fores News

On Monday, the dollar remained stable as traders awaited new information about U.S. inflation trends, which could impact interest rates. Meanwhile, comments from Japanese officials had minimal effect on stemming the yen’s fall, which returned close to the key level of 160.

The yen fell to 159.94 per dollar at the start of trading on Monday, marking its lowest point since April 29. This decline followed a drop to 160.245, the yen’s weakest level in 34 years, prompting Japanese authorities to intervene with a substantial 9.8 trillion yen to stabilize the currency.

Oil extends losses as strong dollar weighs on commodities markets

Oil prices declined in early Asian trading on Monday, marking a second consecutive session of losses. The drop was attributed to a stronger dollar, which renewed concerns about prolonged higher interest rates and dampened investors’ appetite for risk.

Brent crude futures fell by 40 cents, or 0.5%, to $84.84 per barrel as of 0036 GMT, following a 0.6% decrease on Friday. Meanwhile, U.S. West Texas Intermediate crude futures were down 39 cents, or 0.5%, trading at $80.34 per barrel.

Sensex Today | Stock Market LIVE Updates | Asia shares subdued as inflation, politics loom large

Asian shares were quiet on Monday as investors awaited U.S. price data, anticipating signs of easing inflation. Meanwhile, markets were attentive to potential Japanese intervention as the dollar approached the 160 yen threshold. Geopolitical tensions were also prominent, with the upcoming U.S. presidential debate on Thursday and the first round of voting in the French election over the weekend.

Sensex Today | Stock Market LIVE Updates | Global Markets Wrap

S&P 500 futures were little changed as of 9:20 a.m. Tokyo time
Hang Seng futures fell 0.3%
Japan’s Topix rose 0.3%
Australia’s S&P/ASX 200 fell 0.2%
Euro Stoxx 50 futures fell 0.7%