Sensex ends off record high, rises 195 pts; HDFC twins gain 2%, ITC dips

Closing Bell on June 21, 2023: The benchmark S&P BSE Sensex scaled a fresh all-time high of 63,588 on the BSE in the intra-day trade on Wednesday

Stock Market Highlights: The benchmark S&P BSE Sensex scaled a fresh all-time high of 63,588 on the BSE in the intra-day trade on Wednesday, surpassing its previous high of 63,583 touched on December 1, 2022. Profit booking in M&M, ITC, Axis Bank, IndusInd Bank, Bajaj Finance, and Maruti Suzuki, however, dragged it off highs. It, eventually, settled at 63,523, up 195 points or 0.31 per cent. 

The Nifty50, meanwhile, halted its march towards new record high level at 18,875.9, eventually closing at 18,857, up 40 points or 0.21 per cent. 
 

In the broader market, the BSE MidCap and Smallcap indices ended 0.68 per cent and 0.24 per cent higher, respectively.

Among sectors, the Nifty Metal index slipped 0.94 per cent, followed by the Nifty Realty index (down 0.33 per cent). On the upside, the Nifty Financial Services index advanced 0.68 per cent, followed by the Nifty PSU Bank index (up 0.44 per cent).

IPO Update: HMA Agro

The Rs 480-crore IPO of HMA Agro was subscribed 54 per cent till 3:30 PM on the second day of the offer. The portion reserved for non-institutional investors (NII) was subscribed 1.17 times, while that of retail and QIB investors was subscribed 36 per cent each.

4:06 PM

Sensex hits all-time high: Will the winners of this rally hold momentum?

Strong macros, pause in interest rates, and a rush of foreign inflows drove the S&P BSE Sensex to an all-time high level of 63,588 in Wednesday's intra-day trade, breaching the previous peak of 63,583, touched on December 1, 2022. READ MORE

4:03 PM

COMMENT:: Markets remained volatile amid global concerns, FII selling

"Despite hitting record highs, the domestic market failed to sustain its upward trajectory due to prevailing concerns over global issues and a delayed monsoon. Furthermore, market volatility was exacerbated by consecutive days of net selling by FIIs, while mid-cap stocks maintained their steady gains. Meanwhile, in the global market, sentiments were dampened as UK CPI inflation came in hotter than expected, adversely affecting investor confidence."

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

4:01 PM

Shriram Finance, Piramal Enterprises zoom up to 13% after huge block deals

According to media reports, Piramal Enterprises had plans to sell its entire 8.34 per cent stake in Shriram Finance via block deals on Wednesday. READ MORE

3:58 PM

HDFC Life hits 52-week high after CCI permits HDFC to increase stake

The CCI in its meeting held on June 20, 2023, has granted its approval to HDFC Limited to increase its stake in HDFC Life to more than 50 per cent. READ MORE

 

3:56 PM

Aether Industries hits record high; surges 10% on fund raising via QIP

Aether Industries on Monday, June 19, launched a QIP issue to raise up to Rs 750 crore and fixed the floor price of the issue at Rs 984.90 per share. READ MORE

 

 

3:54 PM

Lupin hits 52-week high; rallies over 5% on US FDA nod for key respiratory drug

Lupin has received US FDA nod for Tiotropium Bromide Inhalation Powder in the strength of 18 mcg per capsule. The drug is a generic equivalent of Spiriva HandiHaler, used for pulmonary patients. READ MORE

3:53 PM

Tega Industries trades at record high after 4% stake sale by promoters; up 53% since May

On June 19, Tega's promoters sold over 2.7 million equity shares, amounting to 4.1 per cent of the total equity share capital, to meet the minimum public shareholding norms. READ MORE

3:50 PM

BSE Utilities index was the top gainer, up over 1%; JSW Energy, KPI Green jump over 6%

3:48 PM

Market Breadth was neutral;244 stocks hit a fresh 52-week high on the BSE

3:46 PM

BSE Smallcap Heatmap:: Allsec Tech, Alok Textiles soar over 10%; Aptus tanks 9%

3:44 PM

BSE Midcap Heatmap:: PEL, Shriram Finance zoom over 11%; Cummins slips 2%

3:43 PM

Nifty Midcap, Smallcap indicies gain up to 0.8%; India VIX rises 1.4%

3:41 PM

Nifty 50 Losers:: JSW Steel, Hindalco, Divis Lab and M&M top charts

3:39 PM

Nifty 50 Gainers:: PowerGrid soars nearly 4%; ONGC, Adani Ports, HDFC twins rally around 2%

3:38 PM

Sensex 30 Heatmap:: 14 Gainers v/s 16 Losers