After starting today’s session at fresh record highs, domestic equity benchmarks Sensex and Nifty were under pressure later on in the day. Midcap and smallcap indices, however, continued to rally. Sectorally, metals, pharma and PSU banks were in high demand. Top Nifty gainers included Divi’s Lab, ONGC, Adani Ports and Tata Steel. On the other hand, HDFC Life, TCS, Bajaj Finserv, Titan and HCL Tech were among the top laggards on Nifty. Dodla Dairy and KIMS made a strong debut on Dalal Street today as both listed at premiums of above 20 per cent.
!1 New UpdateClick here for latest updates
Top buy ideas from Motilal Oswal Financial Services
ONGC – Target Price: Rs 150Ashok Leyland – Target Price: Rs 155Federal Bank – Target Price: Rs 110
FM Nirmala Sitharaman’s press conference at 3 pm: What to expect
In her first press conference after the second wave of coronavirus hit the Indian economy, Finance Minister Nirmala Sitharaman is likely to announce new economic interventions. According to ET Now, FM may announce a scheme to promote healthcare infra in Tier-II/III cities, among other measures.
Search, Select & Invest in Top Stocks
Flipkart co-founder Sachin Bansal’s MF house launches cheapest Nifty index fund
Navi Mutual Fund, owned by Flipkart co-founder Sachin Bansal, today announced the launch of Navi Nifty 50 Index Fund, an open-ended equity scheme which would replicate the Nifty 50 Index. The fund, with a proposed total expense ratio (TER) at 0.06 per cent, will be the cheapest such fund in the market. As of now, ICICI Prudential Nifty Index Fund with 0.1 per cent TER is currently the cheapest fund in the category
Top gainers and losers in tourism & hospitality pack
Price as on 28 Jun, 2021 01:02 PM, Click on company names for their live prices.
Fear gauge index India VIX slips 1%
Discover & screen trade opportunities
Finance Minister Nirmala Sitharaman will address a press conference at 3 pm today
IGL shares up 5% as analysts turn bullish after Q4 report
Indraprastha Gas Ltd, India’s largest CNG distribution company, reported 31 per cent rise in January-March net profit on the back of an increase in sales volume. Net profit of Rs 332.08 crore in the fourth quarter of 2020-21 fiscal year is compared with Rs 252.63 crore net profit a year back, the company said. Analysts see further upside in the stock.
Power Mech Projects shares up 10%. Here’s why
Shares of Power Mech Projects, an infrastructure company based in Hyderabad, surged 10 per cent after the firm bagged a Rs 9,294 crore mine development and operation (MDO) project from Central Coalfields, a subsidiary of Coal India.
Shares of Indian Overseas Bank and Central Bank of India jumps over 6% each
A media report said a panel headed by the Cabinet Secretary has cleared names of PSU banks for privatisation.
India Glycols shares surge 12% after manifold jump in Q4 profit
The commodity chemical company reported a 296 per cent jump in consolidated profit to Rs 70.99 crore in the March 2021 quarter, as against a net profit of Rs 17.91 crore in the same quarter previous year.
Cement stocks in focus after CLSA upgrades ACC and increases targets across the sector
Price as on 28 Jun, 2021 12:06 PM, Click on company names for their live prices.
Crude oil drifts near 2018 highs ahead of OPEC+ meeting
Oil prices hit and then recoiled from highs last seen in October 2018 on Monday as investors eyed the outcome of this week’s OPEC+ as the United States and Iran wrangle over the revival of a nuclear deal, delaying a surge in Iranian oil exports. Brent crude for August had slipped 16 cents, or 0.2%, to $76.02 a barrel by 0318 GMT while U.S. West Texas Intermediate crude for August was at $73.93 a barrel, down 12 cents, or 0.2%.
Top gainers in the metals pack
Price as on 28 Jun, 2021 11:45 AM, Click on company names for their live prices.
Asian markets spooked by spike in Covid cases
MSCI’s broadest index of Asia-Pacific shares outside Japan was last a shade weaker at 702.57. Japan’s Nikkei slipped 0.2%, with South Korea’s benchmark KOSPI down about the same amount. Chinese shares were a touch higher with the CSI300 index up 0.2%. Data over the weekend showed profit growth at China’s industrial firms slowed again in May as surging raw material prices squeezed margins and weighed on factory activity.
Corporate loan-oriented banks like ICICI, SBI and Axis Bank that are positioned to cater to industrial demand will benefit disproportionately, according to analysts.
Nifty Metal, Pharma and PSU Bank up 1% each
Short-term investors of Thyrocare should book profits rather than applying for the open offer. Long-term investors should remain invested and wait for fresh buying opportunities. PharmEasy has a platform along with a good client base, which will elevate Thyrocare’s low-price high-volume business to the next level. We expect the stock to perform well upon completion of this open offer
– Yash Gupta Equity Research Associate, Angel Broking
PharmEasy’s parent acquiring a 66.14 per cent stake in Thyrocare from A Velumani and affiliates will put Thyrocare into a different league against its diagnostic peers, as it gets access to traditional as well as online channels, Edelweiss said in a note.
Sensex slips over 100 points; TCS, HDFC Bank and RIL top drags
India Glycols share surge 12% after manifold jump in Q4 profit
Shares of India Glycols jumped 12 per cent on Monday after the company posted a strong set of quarterly numbers.The commodity chemical company reported a 296 per cent jump in consolidated profit to Rs 70.99 crore in the March 2021 quarter, as against a net profit of Rs 17.91 crore in the same quarter previous year. Shares of India Glycols soared 12 per cent to Rs 619.65.
Currency Watch: US dollar edges up
US Dollar Index against six other major currencies rose 0.1% to 91.870, having recovered from Friday’s low of 91.524 hit in the wake of the inflation readings.
Finolex Industries jumps 15% after strong show in Q4
Shares of Finolex Industries jumped as much as 15 per cent in early trade on Monday after the company pulled up a strong show in the March 2021 quarter.
Rupee falls 6 paise to 74.26 against US dollar in early trade
The Indian rupee slumped 6 paise to 74.26 against the US dollar in opening trade on Monday as firm crude oil prices weighed on investor sentiment. At the interbank foreign exchange, the rupee opened lower at 74.24 against the dollar, then fell further to 74.26, registering a fall of 6 paise over its previous close.
FIIs are likely to turn sellers above 15,900 levels. Therefore, some caution is warranted. Nifty Bank has turned stronger in recent days and has the potential to move up further.
– Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Dodla Dairy lists at 28% premium over issue price
Dodla Dairy shares made a strong market debut on Monday, as the scrip got listed at Rs 550 on NSE, a 28.50 per cent premium over its issue price of Rs 428. On BSE, the stock debuted at Rs 528, up 23.26 per cent.
KIMS lists at 22% premium over issue price of Rs 825
Shares of Krishna Institute of Medical Sciences (KIMS) made a strong debut on Monday, as the stock got listed at Rs 1,008.90 on BSE, a 22.29 per cent premium over its issue price of Rs 825. On NSE, the scrip debuted at Rs 1,009, up 22.30 per cent from issue price.
Laurus Labs, Cadila among top gainers in pharma pack
Price as on 28 Jun, 2021 10:05 AM, Click on company names for their live prices.
Dodla Dairy, KIMS to make market debuts today
Secunderabad-based Krishna Institute of Medical Science (KIMS) and Hyderabad-based Dodla Dairy will make their debuts on Monday. The Rs 909-crore IPO was subscribed 45.62 times. The company sold its shares in the price band of Rs 421-428. KIMS’ Rs 2,144 crore IPO was sold in Rs 815-825 price band. The issue was subscribed 3.86 times.
Q4 earnings today
Hindustan Aeronautics, National Aluminium Company, Graphite India, NLC India, IFCI, Triveni Turbine, Welspun Corp, Kiri Industries, Federal-Mogul Goetze, Tamilnadu Petroproducts, GIC Housing Finance, Brightcom Group, GFL and Federal Mogul Goetze are among the companies that will announce their March quarter results today.
Sensex, Nifty turn flat amid selling pressure in TCS and HDFC Bank
Intraday Picks by Reliance Securities:
Sell Asian Paints: For today’s trade, a short position can be initiated in the range of Rs 3,025-3,040 for a target price of Rs 2,965 with a strict stop loss at Rs 3,065. Buy GAIL: For today’s trade, a long position can be initiated in the range of Rs 149-151 for a target price of Rs 157 with a strict stop loss at Rs 147.Buy Axis Bank: For today’s trade, a long position can be initiated in the range of Rs 748-756 for a target price of Rs 780 with a strict stop loss at Rs 740.
Top gainers and losers in broader market
Bank of Baroda, Laurus Labs, Canara Bank, Vakrangee, Sterling Wilson Solar and Linde India were gainers in the broader market, while Thyrocare Tech, Hindustan Copper, Tanla Platforms, Adani Total Gas, Max Financials and Mindtree were under selling pressure.
For Nifty, the levels of 15,600 on the downside and 15,900 on the upside needs to be watched closely
– Mohit Nigam, Head, PMS – Hem Securities
Nifty PSU Bank up 2%. Here are the top gainers in the pack
Price as on 28 Jun, 2021 09:29 AM, Click on company names for their live prices.
Fear gauge index India VIX up 2% to 13.64
Nifty IT only sectoral index in red; MindTree, TCS among top losers in the pack
NTPC, Asian Paints among top Sensex gainers
Opening Bell: Nifty hits all-time high of 15,916; Sensex rises 140 points; Finolex Ind soars 12%, MSTC 6%
Pre-open session: Sensex gains 250 points, Nifty tops 15,900
Australia, Korea shares mixed in early trade
Asian shares got the week off to a cautious start on Monday as a spike in coronavirus cases across Asia over the weekend hurt investor sentiment while oil hovered around 2-1/2 year highs. MSCI’s broadest index of Asia-Pacific shares outside Japan was last a shade weaker at 703.17, still near a two-week high of 705.35 made on June 16. Australian shares slipped 0.3% while South Korea’s KOSPI index was slightly higher.
SGX Nifty signals a flat start
Nifty futures on Singapore Exchange traded 0.5 points higher at 15,871.50, signaling that Dalal Street was headed for a flat start on Monday.
Tech View: Nifty hurdle at 15,900
Nifty50 on Friday formed an indecisive candle on the daily chart that resembled a ‘Hanging Man’ pattern. On the weekly scale, the index formed a bullish candle. Analysts said the index can see good upside on a move above the 15,900 level. They see support at around the 15,700 level.
Japan stocks open higher in cautious trade
Tokyo stocks opened higher on Monday in cautious trade following a mixed close on Wall Street, with investors awaiting fresh market-moving events. The benchmark Nikkei 225 index was up 0.18 percent or 51.88 points at 29,118.06 in early trade, while the broader Topix index advanced 0.32 percent or 6.26 points to 1,968.91.
US stocks settled higher on Friday
The S&P 500 finished at a fresh record Friday, concluding a strong bounce back week for Wall Street on easing worries about monetary policy uncertainty. The broad-based index ended at 4,280.70, up 0.3 percent and a second straight record. The index added 2.7 percent for the week. Dow Jones Industrial Average jumped 0.7 percent to 34,435.16, while the tech-rich Nasdaq Composite Index slipped 0.1 percent to 14,360.39, snapping a streak of three straight records.
Rupee falls 2 paise to end at 74.20 against dollar
The rupee saw a marginal 2 paise drop to end at 74.20 against the US dollar on Friday as month-end demand for the American currency from oil companies brought the domestic unit under pressure. At the interbank foreign exchange market, the rupee opened at 74.15 per dollar as against its previous close of 74.18. It hovered in the range of 74.14 to 74.25 during the day before ending at 74.20. On a weekly basis, the rupee has depreciated by 34 paise against the dollar.
Sensex, Nifty on Friday
The BSE Sensex overcame a choppy start to finish at a fresh lifetime high on Friday, propelled by bank and metal stocks amid a bullish trend in overseas markets. Extending gains for the second session, the 30-share BSE benchmark closed 226.04 points or 0.43 per cent higher at record 52,925.04. Similarly, the broader NSE Nifty advanced 69.90 points or 0.44 per cent to 15,860.35, less than 10 points shy of its all-time closing peak.