Market Wrap Podcast, June 25: Here's all that happened in the markets today

Markets started the July F&O series with impressive gains on Friday as hefty buying in metals, financials, and pharma sectors lifted indices for the second day. The Nifty PSU Bank index closed 2.7 per cent higher on the National Stock Exchange (NSE) amid renewed privatisation buzz and fund-raising by banks.

That apart, the Nifty Metal index zoomed 2.5 per cent after Russian government said it is preparing new export taxes from August 1 for steel products, nickel, aluminium and copper which will cost their producers $2.3 billion.

The Nifty Bank, Private Bank, Pharma, IT, and auto indices, meanwhile, rose between 0.5 per cent and 1.6 per cent.

Overall, the frontline S&P BSE Sensex index added 226 points, or 0.43 per cent, to settle the session at 52,925 levels while the Nifty50 index shut shop at 15,863-mark, up 73 points or 0.46 per cent.

In the broader market, the BSE MidCap and SmallCap indices advanced 1 per cent and 0.4 per cent, respectively.

For the week, the benchmarks gained 1.1 per cent each, the MidCap index 1.5 per cent, and the SmallCap index 1.2 per cent.

Tata Steel (up nearly 4 per cent), Axis Bank, State Bank of India, ICICI Bank, Hindalco, JSW Steel, Maruti Suzuki, and Coal India made it to the list of outperforming stocks in the large-cap segment today while Vodafone Idea, Apollo Hospitals, SAIL, Ashok Leyland, Allcargo Logistics, Uttam Sugar Mills, and Ajmera Realty marched ahead in the broader market space.

Individually, shares of Reliance Industries extended their decline into 4th straight day, falling nearly 7 per cent during the period. The company's Chairman and Managing Director Mukesh Ambani, on Thursday, made a slew of announcements during the company's 44th AGM, post which the stock has been witnessing profit booking. In two days alone, the stock has slipped 5 per cent.

Meanwhile, shares of Maruti Suzuki India hit an over four-month high of Rs 7,664, on the back of a 10 per cent rally in five days, after the company announced price hike plan. The stock, which was trading at its highest level since February 17, 2021, gained nearly 2 per cent on the BSE in intra-day trade on Friday.

Furthermore, shares of Ashok Leyland zoomed 9 per cent to Rs 129.35 on the BSE in intra-day trade as the company's market share improved 0.8 per cent to 28.9 per cent in the March 2021 quarter (Q4FY21) from 28.1 per cent in December 2020 quarter (Q3FY21). The stock of the commercial vehicles' company was trading close to its 52-week high of Rs 138.85, touched on February 4, 2021.

Lastly, shares of Apollo Hospitals Enterprises hit a fresh record high of Rs 3,465, surging 8 per cent on the BSE in intra-day trade on Friday, on the back of heavy volumes. The stock of the healthcare facilities company surpassed its previous high of Rs 3,432.90 touched on June 3, 2021.

In the primary market, the three day public offer of India Pesticides Limited was subscribed 29 times till 4:30 PM on the last day of the issue

Global markets
 

Asian shares rose on Friday, tracking gains on Wall Street overnight that lifted the Nasdaq and the S&P 500 indexes to record highs after US President Joe Biden embraced a bipartisan Senate infrastructure deal.

Japan's Nikkei closed 0.66 per cent higher while South Korea's Kospi rallied 0.5 per cent and Australia's ASX200 was last up 0.45 per cent. China's Shanghai index, too, surged 1.1 per cent.

In Europe, however, shares traded lower as a slide in healthcare-related stocks more than offset a boost from the financial sector. The pan-European STOXX 600 index slipped 0.06 per cent, Germany's DAX declined 0.24 per cent, and France's CAC40 fell 0.2 per cent.

As regards Wall Street, Futures of three main US stock indices gained up to 0.25 per cent, suggesting a flat-to-positive start later in the day.