Sensex ends 174 pts up, Nifty near 15,800; IT, pharma indices hit new peaks

Backed by firm global cues, the frontline S&P BSE Sensex hit an all-time-high of 52,641.5 while the broader Nifty50 index claimed 15,835.5-mark in morning deals

11:52 AM

NEWS ALERT :: CRISIL assigns GVC Level 1 grading to Bharti Airtel

The grading indicates that corporate governance practices and value creation at the Company for all its stakeholders are at the 'Highest' level, the firm said in a filing. 

11:44 AM

MARKET VIEW | Rahul Sharma - Head, Technical and Derivatives Research, JM Financial

Markets have moved from resilience to exuberance as Bulls continue to march towards mount 16,000 in Nifty with sector rotation & earnings keeping the momentum alive. Falling US Bond Yields along with supportive global cues ensure Nifty didn’t break key support levels. Good monsoon, improving Covid situation & falling VIX should keep markets driving higher. 

11:35 AM

MARKET UPDATE:: Sensex off day's high

11:34 AM

Stocks that hit 52-week high on BSE today

Company	PRICE(rs)	52 WK HIGH	CHG(%)
Aarti Industries	1813.00	1862.10	-0.79
Aegis Logistics	383.65	388.90	1.93
APL Apollo Tubes	1446.00	1478.60	1.56
Astral	1936.00	2030.00	-2.00
Bajaj Finance	6197.95	6228.60	1.81

11:20 AM

Direct plans for equity schemes seeing steady rise since last 5 years

Nearly a sixth of equity assets under management (AUM) is now contributed by direct plans, which require investors to invest without the aid of distributors.

 

The share of such plans among equity schemes has risen around 7 percentage points from 9.6 per cent to 16.6 per cent over the past five years, latest data from Value Research for the quarter ended March 31 (Q4FY21) shows. A year ago, this figure stood at 15.5 per cent. READ MORE

11:09 AM

Top gainers on BSE at this hour

Company	PRICE(rs)	CHG(%)
EClerx Services	1617.35	20.00
Alok Industries	27.45	12.73
VRL Logistics	301.60	12.68
Future Consumer	9.30	10.06
Future Retail	60.05	9.98

11:02 AM

Tide Water Oil up 5% on 1:1 bonus, Rs 200 per share dividend, stock split

Shares of Tide Water Oil (India) locked in upper circuit of 5 per cent at Rs 11,458 on the BSE on Friday after the company announced 1:1 bonus issue, dividend of Rs 200 per share, and stock split from Rs 5 to Rs 2. The stock had hit a record high of Rs 12,991, on June 7, 2021, after the company announced stock split and bonus issue plan on May 26. Despite the correction from all-time level, the stock has rallied 144 per cent in the past one month, as compared to 7 per cent rise in the S&P BSE Sensex. READ MORE

10:50 AM

Buffett bets on all-digital banks, but the world still needs Goldman Sachs

Warren Buffett, until last year a devoted shareholder of big U.S. banks, has moved on to their challengers. Does that spell the end of his faith in the traditional financial sector? This week, Berkshire Hathaway Inc. poured $500 million into Brazil’s Nubank--the fintech company’s largest single investment--giving it a valuation of $30 billion. READ MORE

10:43 AM

'TCS stock has given 3,000% return since IPO'

Chandrasekaran said while Covid-19 disrupted life, it also brought positive changes and new opportunities for TCS. “Almost a decade of advantage has come in because the world is shifting to digital,” he said, adding, “Covid is going to impose sustainability in a big way. All companies will be moving towards adopting this.” READ MORE

10:33 AM

MARKET VIEW :: Exercise caution while investing in smallcaps

The debate over the nature of inflation in US - whether transitory or structural - continues. Only time will tell who is right. But for now, the market is strongly on the side of equity bulls who believe that the high inflation is transitory & will soon stabilise. Even though the 5% consumer inflation print in May came worse than the consensus estimate of 4.4 % the market shrugged it off & the S&P 500 touched record highs. The fact that the US 10-year yield crashed to 1.44% and the dollar index is howering around 90 indicate that there is more leg for this bull market. The exuberance in the mid and small-cap space is an area of concern. But markets can over-react proving the sceptics wrong in the short run. In 2017 the small index rose around 60%. The froth was removed in 2018 with big pain to the late entrants. Leading financial, IT, pharma and metals are on a strong wicket. Stay invested in these segments while exercising caution when investing in small-caps.

-- Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

10:22 AM

Coal India hits 52-week high, regains Rs 1 trillion market cap

Shares of Coal India hit a 52-week high of Rs 164.45 as they rallied 5 per cent on the BSE in intra-day trade on Friday amid expectations of improvement in earnings going forward. The stock of the state-owned company surpassed its previous high of Rs 162.95, touched on February 26, 2021. In the past two weeks, the stock has outperformed the market by gaining 12 per cent as compared to a 2.2 per cent rise in the S&P BSE Sensex. READ MORE

10:12 AM

A $43-bn jump in Gautam Adani's fortune is fraught with many risks

Adani’s net worth of $76.7 billion got a boost from a 330% jump in Adani Total Gas Ltd., a 235% rise in his conglomerate’s flagship Adani Enterprises Ltd. and a 263% increase in Adani Transmission Ltd. this year. Adani group stocks, especially these three, “look extended,” Bloomberg Intelligence analysts Gaurav Patankar and Nitin Chanduka wrote in a June 10 note after analysing technical indicators. READ MORE

10:11 AM

Most active stocks by volume

Company	PRICE(rs)	CHG(%)	VOLUME
NHPC Ltd	27.10	0.18	50589219
Vodafone Idea	9.97	0.10	12267187
Alok Industries	28.55	17.25	9710358
Future Consumer	8.98	6.27	4804248
Suzlon Energy	7.25	-1.09	2536930

10:03 AM

Rupee opening

Rupee opens stronger at 72.94 per US dollar vs Thursday's close of 73.05/$

10:00 AM

eClerx Services zooms 20%, nears record high on healthy Q4 results

In Q4FY21, the company’s profit after tax grew 39 per cent QoQ at Rs 98.8 crore. EBIT (earnings before interest and tax) margins improved 295 basis points (bps) to 27.6 per cent mainly led by lower sales & development expenses and higher gross margins. The company said total delivery headcount as of March 31, 2021 stands at 11,831 – an increase of 40 per cent year on year. READ MORE