Stock Market Highlights, June 20: Mid, SmallCap indices outshine benchmarks; metal, pvt banks gain

Stock market Highlights on Thursday, June 20, 2024: Among sectors, the Nifty Metal index edged 1,8 per cent higher, the Nifty Realty 2 per cent, and the Nifty Private Bank 1.16 per cent

Closing Bell on Thursday, June 20, 2024: Benchmark indices remained volatile all through the day on Thursday, swinging between gains and losses, and investors adjusted their position amid the weekly F&O expiry.

The BSE Sensex oscillated 543 points intraday before settling 141 points, or 0.18 per cent, higher at 77,479 levels. The Nifty50, too, moved within a band of 182 points before ending at 23,567, up 51 points or 0.22 per cent.

Grasim, Hindalco, JSW Steel, BPCL, Adani Ports, Kotak Bank, Reliance Industries, L&T, HUL, and Coal India were the top large-cap gainers on the broader 50-stock index. These stocks gained up to 2 per cent.

In the broader markets, the BSE MidCap, and SmallCap indices outshone the frontline indices with 0.55 per cent and 1 per cent gains, respectively.

Among sectors, the Nifty Metal index edged 1,8 per cent higher, the Nifty Realty 2 per cent, and the Nifty Private Bank 1.16 per cent. On the downside, the Nifty Auto fell 0.45 per cent. 

3:59 PM

Tech View :: 'Nifty undertone to stay bullish as long as it holds 23,400'

The market consolidated within a range, with the index stuck between 23,400 and 23,650. The undertone remains bullish as long as the index sustains above the 23,400 support, where aggressive put writing is visible. Surpassing the 23,650 mark will open further room towards the 23,800/24,000 levels

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

3:58 PM

Tech View :: 'Break below 51,000 will dampen sentiment in Nifty Bank'

The Bank Nifty Index continued its strong momentum and managed to hold the support at 51,200-51,000. The bullish momentum is likely to continue, and dips should be utilized to buy the index targeting 52,200/52,600. The lower-end support is placed at 51,000, where the highest open interest is built up on the put side. A break below this level will only dampen the bullish sentiment.

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

3:57 PM

Comment :: 'Budget, FII flows to sway markets in near-term'

Despite experiencing significant volatility, the domestic market concluded the day positively.

In the near term, market attention is expected to centre around the upcoming Union budget and the progress of the monsoon.

On the global front, the decline in US bond yields has facilitated robust FII inflows in recent days. The fertilizer stocks exhibited good momentum, driven by the proposed removal of GST & hike in MSP.

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

3:41 PM

Currency check :: Rupee ends 20 paise lower vs USD

3:40 PM

Broader markets :: SmallCap index up 1%, MidCap half a per cent

3:39 PM

Sectoral trends :: Realty, Metal stocks shine, Pvt banks close behind

3:38 PM

Sensex Heatmap :: Steel stocks, RIL lend support to 30-stock index

3:37 PM

Closing Bell :: Nifty stays above 23,550

3:36 PM

Closing Bell :: Sensex ends 141 pts higher after choppy day

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2:47 PM

ALERT:: Crisil reaffirms credit rating on Shree Cement; stock up 1%

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