The benchmark indices extended gains and hit fresh intraday high in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, rose 301.23 points or 0.58% at 52,607.31. The Nifty 50 index gained 76.80 points or 0.49% at 15,763.75. The June 2021 F&O contracts will expire today, 24 June 2021.
In the broader market, the S&P BSE Mid-Cap index fell 0.41% while the S&P BSE Small-Cap index lost 0.16%.
The market breadth was negative. On the BSE, 1,407 shares rose and 1,639 shares fell. A total of 155 shares were unchanged.
IT stocks were in demand. TCS (up 2.94%), Infosys (up 3.14%), HCL Technologies (up 1.51%) and Wipro (up 1.05%) advanced.
Reliance Industries (RIL) fell 1.23%. RIL will conduct its 44th AGM virtually today, 24 June 2021, at 14:00 IST. The oil-to-telecom conglomerate may make announcements across its telecom, retail and O2C businesses.
Coronavirus Update:
Total COVID-19 confirmed cases worldwide stood at 17,95,99,617 with 38,91,945 deaths. India reported 6,27,057 active cases of COVID-19 infection and 3,91,981 deaths while 2,90,63,740 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
India recorded 54,336 new coronavirus cases and 1,321 deaths in the last 24 hours ending 9 A.M. on Thursday. With this the country's total caseload has risen to over 3 crore, while the death toll has increased to 3.91 lakh. Meanwhile, the active caseload has dropped to 6.27 lakh.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 1.82% to 15.0850. The Nifty 24 June 2021 futures were trading at 15,782.15, at a premium of 18.40 points as compared with the spot at 15,763.75.
The Nifty option chain for 24 June 2021 expiry showed maximum Call OI of 105.20 lakh contracts at the 15,800 strike price. Maximum Put OI of 81.30 lakh contracts was seen at 15,700 strike price.
The June 2021 F&O contracts will expire today, 24 June 2021.
Buzzing Index:
The Nifty Metal index rose 0.92% to 5,108.55. The index fell 1.13% yesterday.
JSW Steel (up 2.03%), APL Apollo Tubes (up 1.67%), Hindustan Zinc (up 1.58%), Tata Steel (up 1.49%) and Jindal Steel & Power (JSPL) (up 1.40%) gained.
Stocks in Spotlight:
Tata Motors rose 0.21%. In a regulatory filing made after trading hours yesterday, the automobile major said that Guenter Butschek would be stepping down from his role as CEO & MD from 30 June 2021. Mr Butschek had informed the company about his desire to relocate to Germany at the end of the contract for personal reasons.
Adani Ports and Special Economic Zone (APSEZ) fell 1.01% after the company said that it may abandon Myanmar project if it violates U.S. sanctions and will write-down investments in the project in full. APSEZ has a project to build a container terminal in the city of Yangon on land leased from a Myanmar military-owned conglomerate. A military coup in Myanmar on 1 February 2021 and an ensuing crackdown on mass protests in which hundreds have been killed has drawn international condemnation and sanctions on military figures and military-controlled entities.
Offering clarification with respect to the aforementioned media reports, Adani Ports said that the company has zero tolerance policy which ensures that there is no contravention of US and other sanctions. The company is in discussion with its US based counsels to ensure that the company follows the OFAC sanctions programs.
Nureca hit an upper circuit of 5% at Rs 1,627.50 after Hornbill Orchid India Fund bought 1,95,766 equity shares (or 1.95% stake) of the company at Rs 1,549.97 per equity share via bulk deals on the BSE yesterday, 23 June 2021.
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