Key equity benchmarks ended with tiny losses after a volatile trading session. The barometer index, the S&P BSE Sensex, fell 5.67 points or 0.01% to 39,586.41, as per the provisional closing data. The Nifty 50 index fell 6 points or 0.05% to 11,841.55, as per the provisional closing data.
The June 2019 F&O contracts expired today, 27 June 2019. The market was quite volatility as traders rolled over positions in the F&O segment from the near month June 2019 series to July 2019 series.
Broader market edged higher. The S&P BSE Mid-Cap index was up 0.36%. The S&P BSE Small-Cap index was up 0.53%.
The market breadth, indicating the overall health of the market, positive. On the BSE, 1414 shares rose and 1130 shares fell. A total of 164 shares were unchanged.
Global shares were positive after the media reported that Washington and Beijing were laying out an agreement that would help avert the next round of tariffs on an additional $300 billion of Chinese imports. US President Donald Trump is expected to meet Chinese President Xi Jinping on Saturday in Japan. The Trump administration has threatened to slap duties of up to 25% on the remaining untaxed Chinese goods if this weekend's talks go poorly.
Meanwhile, Donald Trump tweeted that he is looking forward to meet Prime Minister Narendra Modi and share his disappointment regarding "unacceptable" tariffs set by India. He tweeted early today, "I look forward to speaking with Prime Minister Modi about the fact that India, for years having put very high Tariffs against the United States, just recently increased the Tariffs even further. This is unacceptable and the Tariffs must be withdrawn!"
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HDFC Bank was down 0.3% at Rs 2459.7. The stock hit a 52-week high of Rs 2494 in intraday today.
ICICI Bank was up 0.26% at Rs 439.75. The stock hit a 52-week high of Rs 443.85 in intraday today.
Tata Consultancy Service was down 0.22% to Rs 2,248.85. Reliance Industries was up 1.59% to Rs 1,274.20.
Tata Motors (up 2.76%), Oil and Natural Gas Corporation (up 2.3%), Mahindra & Mahindra (up 1.98%) and State Bank of India (up 1.09%) advanced.
Havells India was up 1.11% at Rs 796. It hit a 52-week high of Rs 797.9 in intraday today.
Power Finance was down 0.7% at Rs 135.5. The stock hit a 52-week high of Rs 138.05 in intraday today.
Shree Cement was up 0.34% at Rs 21930. It hit a 52-week high of Rs 22,051 in intraday today.
SBI Life Insurance was up 1.32% at Rs 726.95. The stock hit a 52-week high of Rs 738 in intraday today.
Torrent Power was up 1.73% at Rs 288.15. It hit a 52-week high of Rs 289.45 in intraday today
Axis Bank was up 1.44% to Rs 800.35. The bank is reportedly considering raising at least $1.3 billion through a share sale to institutional investors. The lender is talking to potential advisers about the fundraising plans to seek board approval for the sale as early as next month, reports added.
IT stocks were trading lower. Hexaware Technologies (down 2.9%), Tech Mahindra (down 2.08%), HCL Technologies (down 1.61%), Wipro (down 1.42%), Infosys (down 1.15%), Oracle Financial Services Software (down 0.38%) declined. Mphasis (up 3.4%), MindTree (up 0.95%), Persistent Systems (up 0.21%) advanced.
Most realty stocks advanced. Prestige Estates Projects (up 5.11%), Anant Raj (up 4.62%), Godrej Properties (up 4.15%), Sobha (up 3.16%), Oberoi Realty (up 2.45%), Sunteck Realty (up 2.13%), DLF (up 0.54%), The Phoenix Mills (up 0.44%) Lifespace Developers (up 0.14%), and Omaxe (up 0.08%) advanced. Mahindra Indiabulls Real Estate (down 0.77%) was down.
CreditAccess Grameen advanced 0.18% to Rs 521.1. CreditAccess Grameen has completed a direct assignment of Rs 138.89 crore on 26 June 2019. This is the first direct assignment transaction initiated during the FY-2019-20. With this transaction, the company has completed one securitization and one direct assignment transaction totaling to Rs 249.24 crore in FY-2019-20. The announcement was made after market hours yesterday, 26 June 2019.
Coffee Day Enterprises rose 2.9% to Rs 230.5 on media reports that Coca Cola could acquire a significant stake in country's largest chain CafCoffee Day.
Cox & Kings hit a lower circuit of 10% at Rs 40.50 after Brickwork Ratings India downgraded the company's non-convertible debenture issue rating from BWR AA; Stable to BWR AA-; Stable.
Adani Ports and Special Economic Zone was down 1.4% to Rs 409.2. The company approved the issuance of fixed rate senior unsecured notes aggregating to US$ 750 million. The company intends to use the proceeds primarily for capital expenditure, including on-lending to subsidiaries for capital expenditure purposes, and the remainder for repaying existing indebtedness as permitted under the applicable laws. The company has received Baa3 (Stable) by Moody's, BBB- (Stable) by S&P and BBB- (StabIe) by Fitch for the Notes. The notes are expected to be listed on Singapore Exchange Securities. The interest rate payable on these notes would be 4.375% per annum, payable semi-annually, commencing from 3 January 2020. The announcement was made before market hours today, 27 June 2019.
Overseas, shares in Europe and Asia were trading higher ahead of the highly anticipated G20 meeting.
US stocks closed mostly lower Wednesday, as investors grew increasingly skeptical that a US-China trade deal is in the offing, though technology shares were supported by optimism related to Micron Technology's better-than expected guidance.
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