Sensex and Nifty started Friday’s session on a flat note amid buying interest in RIL and financial stocks. Hero Moto was the top Nifty50 gainer. ONGC, Adani Ports, ICICI Bank and Cipla were among other blue-chip top performers. On the other hand, Tech Mahindra was the top laggard, down nearly 1 per cent. TCS, Infosys, HCL Tech and Power Grid were among other losers.
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The high frequency data and relatively decent May tax collections have been suggesting limited adverse impact on economic activity and that the slowdown had troughed around late May. However, the weak PMI manufacturing data in June provides mixed signals suggesting persistence of fragile sentiments. While supply side constraints begin to ease, sentiments may remain tepid amidst uncertainty on demand in the near term
– Upasna Bhardwaj, Senior Economist at Kotak Mahindra Bank
How PSU bank stocks are faring now
Price as on 02 Jul, 2021 12:41 PM, Click on company names for their live prices.
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CARE Ratings assigns ‘CARE A+’ rating to Jindal Stainless (Hisar) Limited
Mindtree completes acquisition of the NxT Digital Business from L&T
Mindtree on Friday said it has completed acquisition of the NxT Digital Business from Larsen and Toubro (L&T). In May this year, Mindtree had announced it will acquire the NxT Digital Business from Larsen and Toubro (L&T) for Rs 198 crore, a move that will enable the mid-sized IT firm to capture opportunities in the Internet of Things (IoT) and Industry 4.0 space.
Wood has allocated 17 per cent to real estate stocks — Godrej Properties, Century Textiles and DLF — in his newly launched portfolio. Financials and energy sectors are the other two sectors that have large weightage in the portfolio.
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Mphasis, Coforge, MindTree and TCS lose up to 2%
Fear gauge index India VIX slips 2% to 12.6 level
Redington India shares scale new 52-week high
Shares of Redington (India) hit upper circuit during the early trade on Friday after the government announced 14 companies received approval under the Production Linked Incentive Scheme (PLI) for IT hardware.
Rupee slumps 20 paise to 74.75 against US dollar
The Indian Rupee depreciated 20 paise to 74.75 against the US dollar in opening trade on Friday as firm American currency and rising crude oil prices weighed on investor sentiment. At the interbank foreign exchange, the rupee opened at 74.71 against the dollar, then fell further to 74.75, registering a fall of 20 paise over its previous close.
NTPC Renewable Energy Ltd IPO to hit markets in 2022-23
State-run NTPC has plans to list its arm NTPC Renewable Energy Ltd in 2022-23, to raise funds for achieving its ambitious target of 60 GW installed renewable energy capacity by 2032, which entails a total investment of Rs 2.5 lakh crore.
Sensex slips 100 points; TCS, Infosys top losers
Adani Green, Adani Transmission and Adani Total slip 5% each
Affle jumps 5% after acquisition of Jampp
Shares of Affle (India) hit its upper circuit limit during early trade on Friday after the company announced that it has completed the acquisition of Jampp.
Real estate stocks in demand; Oberoi Realty up 1.75%
Price as on 02 Jul, 2021 10:01 AM, Click on company names for their live prices.
Intraday Picks by Reliance Securities:
Buy Aurobindo Pharma: For today’s trade, long position can be initiated in the range of Rs 950- 960 for a target of Rs 995 with a strict stop loss at Rs 945.Buy GAIL: For today’s trade, long position can be initiated in the range of Rs 149- 151 for a target of Rs 158 with a strict stop loss at Rs 147. Buy Vedanta: For today’s trade, short position can be initiated in the range of Rs 266-268 for a target of Rs 258 with a strict stop loss at Rs 270.
Vodafone Idea slips 3%
Top gainers and losers in broader market
Broader market indices were trading higher, outperforming their headline peers in morning trade. Dixon, Navin Fluorine, Indiamart Intermesh, IOL Chemicals, Affle India and Happiest Minds were gainers from the space, while Lux Industries, KEI Industries, Birlasoft, Adani Total Gas, JSW Energy and Vodafone Idea were under selling pressure.
Midcaps and smallcaps continue to outperform
Top losers in the IT pack
Price as on 02 Jul, 2021 09:36 AM, Click on company names for their live prices.
Sustained FII selling and high valuations are the major reasons for the weakness in the market now. It is normal for FIIs to sell and book profits at the present elevated valuations. HNIs also might be tempted to partially book profits. Since DIIs are getting big inflows. They might continue to buy, but the buying is happening mainly in high-quality large-caps with good earnings visibility
– Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
IT and metal stocks under selling pressure; TCS, Infosys shed 1% each
How Sensex stocks are faring now
Opening Bell: Sensex, Nifty trade flat. Happiest Minds jumps another 4%. IT and metal stocks under selling pressure
Pre-open session: Sensex gains 115 points, Nifty above 15,700
SGX Nifty signals a flat start
Nifty futures on Singapore Exchange traded 1.5 points, or 0.01 per cent, higher at 15,728.50, signaling that Dalal Street was headed for a flat start on Friday.
Tech View: Nifty support seen at 15,600
Nifty50 on Thursday fell for the fourth consecutive session. In the process, it breached its immediate support at 15,700 level and ended up forming a bearish candle on the daily scale. The NSE barometer, which has been making lower lows for four sessions, may find some support in the 15,650-600 range, analysts said.
Japan shares rise after US rallies
Tokyo stocks rose in early trade on Friday following global rallies on improving economic data, while investors awaited the release of US jobs data later in the day. The Nikkei 225 index opened flat then added 0.18 percent, or 50.29 points, to 28,757.33, while the broader Topix index rose 0.63 percent, or 12.13 points, to 1,951.34.
China stocks drop in early trade
The benchmark Shanghai Composite Index dipped 0.53 percent, or 18.89 points, to 3,569.99, while the Shenzhen Composite Index on China’s second exchange fell 0.56 per cent, or 14.07 points, to 2,428.19.
Hong Kong stocks begin with gains
Hong Kong stocks opened slightly higher Friday morning as traders returned from a one-day holiday to track another record on Wall Street, with eyes now on the release of US jobs data later in the day. The Hang Seng Index added 0.11 percent, or 31.07 points, to 28,859.02.
Wall Street hits another record; energy stocks, banks gain
Stocks finished broadly higher on Wall Street Thursday, adding to the gains that helped the market close out its best first half of a year since the dotcom bubble. The S&P 500 index rose 22.44 points to 4,319.94. The Dow Jones Industrial Average gained 131.02 points, or 0.4%, to 34,633.53. The technology-heavy Nasdaq Composite added 18.42 points, or 0.1%, to 14,522.38.
Rupee tumbles 23 paise to hit over 2-mth low of 74.55 against dollar
The Indian rupee plunged 23 paise to its lowest level at 74.55 against the US dollar in over two months on Thursday amid a lackluster trend in domestic equity markets and a continuous rise in crude oil prices. At the interbank foreign exchange market, the rupee opened on a negative note at 74.37 as against its previous close of 74.32. It hovered in the range of 74.34-74.63 per dollar during the day before ending at 74.55.
Sensex, Nifty on Thursday
Equity benchmarks stayed on the backfoot for the fourth consecutive session on Thursday as IT and finance counters bore the brunt of hectic selling amid weak Asian cues. The 30-share BSE Sensex ended 164.11 points or 0.31 per cent lower at 52,318.60. Similarly, the broader NSE Nifty shed 41.50 points or 0.26 per cent to close at 15,680.