Sensex tumbles 284 pts, Nifty below 18,800; Bajaj Fin, TaMo fall 2%, RIL 1%

Closing Bell on June 22, 2023: The S&P BSE Sensex hit a fresh record high of 63,602 in intra-day trades on Thursday

Stock Market Highlights: After hitting fresh record high of 63,602 in intra-day trades on Thursday, the benchmark S&P BSE Sensex tumbled to a low of 63,200.6 before closing at 63,239, down 284 points or 0.45 per cent. 

The NSE Nifty50, meanwhile, missed hitting a fresh record high by just 1 point as it halted its intra-day rally at 18,886.6. The index settled at 18,771, down 86 points or 0.45 per cent. It hit an intra-day low of 18,760.

Bajaj Finance, Tata Motors, Tata Consumer Products, Asian Paints, Power Grid, NTPC, Nestle India, SBI Life, Infosys, Cipla, UPL, Grasim, Reliance Industries, IndusInd Bank, and Britannia Industries were the drags on the frontline index, falling between 1 per cent and 2.4 per cent. 

Among sectors, the Nifty PSU Bank index came under heavy selling pressure as it fell 1.67 per cent. On the upside, the Nifty Metal index managed to rise 0.05 per cent.

In the broader markets, the BSE MidCap and SmallCap indices trailed frontline indices as they fell 1 per cent and 0.64 per cent, respectively.

IPO Alert :: HMA Agro

The three-day issue of HMA Agro was subscribed 95 per cent till 3:30 PM on the last day of the offer. The non-institutional investrors' quota was subscribed 1.85 times, while that of qualified institutional buyers (QIBs) and retail was subscribed 100 per cent and 51 per cent, respectively.

3:58 PM

COMMENT:: Fears of potential rate hikes in US weighs on market sentiment

"The domestic market is currently witnessing increased volatility as it hovers around its historical peaks. This heightened volatility has also affected mid- and small-cap stocks, which have shown resilience. Moreover, the weak global indicators have had an impact on the domestic market, as they experienced declines following concerns of potential rate hikes, prompted by comments from the Fed chair regarding the fight against inflation."

 

- Vinod Nair, Head of Research at Geojit Financial Services

3:56 PM

Sugar stocks in demand; Dhampur, Uttam Sugar hit 52-week high

The incremental tailwind is expected from attractive international prices, which could catalyse a positive in sugar realizations, Dwarikesh Sugar said in its financial year 2022-23 annual report. READ MORE

3:55 PM

gSpiriva approval gives earnings visibility to Lupin; valuations expensive

Lupin's shares declined 2.7 per cent a day after receiving the final approval of the USFDA for inhalation drug gSpiriva. READ MORE

3:53 PM

Sansera Engineering hits 52-week high; surges 9% after huge block deal

Around 7.45 million shares, representing 14.08 per cent of the total equity of Sansera Engineering, changed hands in morning trade on the NSE. READ MORE

3:51 PM

Ajanta Pharma hits 52-week high on upbeat branded generic business outlook

The management is confident to scale up margins again in the coming years on the back of enhanced contribution from Branded Generics business and normalisation of freight costs. READ MORE

3:49 PM

Arvind rallies 5%, hits 52-week high in subdued market on improved outlook

Arvind expects garment volumes to start improving in the second half of the year despite the soft economic outlook globally as customers become comfortable with the economic outlook and resume buying. READ MORE

3:48 PM

These 2 KP Group stocks have zoomed up to 67% thus far in June

Thus far in the month of June, KPI Green Energy (66 per cent) and K P Energy (56 per cent) have outperformed the benchmark S&P BSE Sensex index. READ MORE

3:46 PM

BSE Power index shed 1.5%; all stocks ended in red

3:44 PM

Market Breadth was fairly negaitve; nearly 2,200 stocks declined as against 1,331 advancing shares on the BSE

3:43 PM

BSE Smallcap Heatmap:: RattanIndia, HCC zoom up to 16%; Kopran, India Cement big losers

3:41 PM

BSE Midcap Heatmap:: Supreme Inds, Rajesh Exports shine; IDFC First Bank, Aditya Birla Capital whine

3:39 PM

Broader indices end with deeper cuts, slip up to 1.2%; India VIX rises 2.2%

3:37 PM

Nifty 50 Losers:: Bajaj Finance, Tata Consumer, Asain Paints dip over 2%

3:36 PM

Nifty 50 Gainers:: Divis Lab, L&T up 1%; HDFC twins other notable movers

3:35 PM

Sensex 30 Heatmap:: 10 Gainers v/s 20 Losers