RIL, ITC lift Sensex 418 pts, Nifty regains 18,700; MRF tops Rs 1-L mark

CLOSING BELL ON JUNE 13, 2023: In the broader market, the BSE MidCap index soared 1.2 per cent, while the Smallcap added 0.8 per cent on Tuesday.

Stock Market Highlights: Domestic markets on Tuesday cheered positive macro-data announced a day earlier, wherein the retail inflation cooled to a 25-month low of 4.25 per cent in May, and IIP growth rebounded to 4.2 per cent in April. Globally, the focus now shifts to the US CPI inflation data later tonight and the FOMC meet outcome on Wednesday.

The S&P BSE Sensex scaled an intra-day high of 63,177 in late deals led by strong gains in index heavyweights – Reliance Industries (RIL), ITC, ICICI Bank and Infosys. The Sensex eventually ended with a gain of 418 points at 63,143.

The NSE Nifty50 hit a high of 18,729, and settled 115 points higher at 18,716.

In the broader market, the BSE MidCap index soared 1.2 per cent, while the Smallcap added 0.8 per cent on Tuesday. The overall breadth, too, was fairly positive with more than 2,100 stocks advancing versus 1,450-odd declining stocks on the BSE.

Buzzing Stocks

MRF: Shares of the tyre-maker crossed the Rs 100,000 mark for the first time ever, hitting a record high of Rs 100,300 on the BSE. The stock finally ended a per cent higher at Rs 99,950. 

IndiGo: Shares of InterGlobe Aviation, parent firm of IndiGo, continued to reel under pressure on Tuesday even as the company clarified on stake sale rumors by Gangwal family. The stock shed 2.5 per cent. 

Zee Entertainment: After having cracked over 6 per cent in opening trades, the stock recouped losses and eventually settled 0.6 per cent lower in the aftermath of Sebi’s decision. On Monday, the Securities and Exchange Board of India (Sebi) barred the company’s promoter and Essel group Chairman Subhash Chandra and MD and CEO Punit Goenka from holding key positions in any listed company for allegedly diverting assets of Essel Group companies.

3:51 PM

Comment :: 'Expect US Fed to hold rates'

The sustained flow of better-than-expected domestic macro-economic data kept the market mood afloat, with the Nifty midcap trading to all-time highs. The domestic CPI data moderated closer to the RBI’s target due to tone-down in food inflation and a favourable base, which increased the likelihood of a rate cut by the end of the year. Attention now turns to the release of US inflation data and the upcoming FOMC announcement, where the view is optimistic on keeping rates on hold.

Views by: Vinod Nair, Head of Research at Geojit Financial Services

3:49 PM

Currency check :: Rupee ends at 82.38/$ against Monday’s close of 82.43/$

3:46 PM

DLF hits highest level since September 2008

3:44 PM

Zee Entertainment recoups losses as co approaches SAT against Sebi order

3:42 PM

IndiGo extends decline on Gangwal stake sale buzz

>> Company informed the exchanges today that it has not received any information from the co-founders

3:41 PM

Buzzing stock :: MRF becomes first Indian stock to touch six-digit price

>> Stock hits record high of Rs 1,00,300

3:39 PM

Broader market indices outperform; BSE MidCap index hits record high of 28,000

3:37 PM

Sectoral trends :: All but Nifty Auto end in the green zone

3:35 PM

Sensex Heatmap :: ITC, Titan, Asian Paints among top index winners

3:34 PM

CLOSING BELL :: Nifty holds 18,700 on Tuesday

3:33 PM

CLOSING BELL :: Sensex settles near day's high, rallies over 400 pts

3:22 PM

Global Check:: US, UK stock futures marginally up

Source: Yahoo Finance

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IndiGo falls 5% in 2 days; Company clarifies on Gangwal stake sale buzz

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