Stock Market Highlights, June 27: Nifty hits 24,000 on June F&O expiry day; Sensex rises 567 pts

Stock Market Highlights on Thursday, June 27, 2024: The BSE Sensex topped the 79,000-mark for the first time on Thursday, touching an all-time high of 79,396. The Nifty50 hit a record high of 24,087

9:38 AM

ALERT :: India Cement soars 9% as Ultratech Cement buys 23% stake

>> The Board of Directors of Ultratech Cements has approved investment to purchase up to 70.6 million equity shares of The India Cements Limited at a price of up to Rs. 267/- per share.

>> This non-controlling financial investment constitutes around 23% of the equity share capital of ICL.

9:25 AM

Market view: Markets to stay bullish despite valuation concerns

The market will remain bullish in the near-term despite the valuation concerns, and the ongoing momentum has the potential to take the Sensex to 80,000 levels. A healthy trend in the market is that now the up move is being led by fundamentally strong largecaps in sectors like banking and telecom. With RIL, which had not participated in the rally till yesterday joining the bull bandwagon, the rally has the strength to continue.

But the rise in U.S. bond yield might perhaps trigger some large FII selling in the coming days putting brakes on the rally. So long as the massive domestic liquidity support to the market continues there are no no potential triggers that can cause a sharp correction in the market. PSU banks look attractive from the valuation perspective, and therefore, they have the potential to react positively to good Q1 results.

(View by: Dr V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services)

 

9:23 AM

Nifty Media, Healthcare ahead in sectoral trends

9:21 AM

Ultratech Cement, Grasim Industries gain on NSE

9:19 AM

Broader markets outperform benchmarks

9:18 AM

Heatmap check

9:18 AM

Opening bell: Nifty off to a lower start, trades below 23,850

9:16 AM

Opening bell: Sensex slips 100 points in early trade

9:09 AM

Pre-open: Nifty above 23,850

9:08 AM

Pre-open: Sensex slightly higher at 78,758

9:05 AM

Rupee opens at $83.51

8:59 AM

Funds eyeing India's sovereign debt mkt risk being tripped up by red tape

India’s $1.3 trillion sovereign debt market has become a magnet for global investors. However, this newfound interest highlights how difficult doing business in the world’s most populous country can be for outsiders. READ MORE

8:41 AM

M&M may surpass Tata Motors, Maruti Suzuki in PV segment in June: Nuvama

Mahindra and Mahindra (M&M) is anticipated to surpass Tata Motors and Maruti Suzuki in the passenger vehicle (PV) segment in June 2024, driven by a low base, according to Nuvama Institutional Equities’ (Nuvama) recent note on the auto sector. READ MORE

8:29 AM

Gold price dips Rs 10 to Rs 71,990, silver falls Rs 100 to Rs 89,900

Gold Price Today: The price of 24-carat gold slipped Rs 10 in early trade on Thursday with ten grams of the precious metal selling at Rs 71,990, according to the GoodReturns website. The price of silver fell Rs 100, with one kilogram of the precious metal selling at Rs 89,900. The price of 22-carat gold slipped Rs 10, with the yellow metal trading at Rs 65,990. Read more

8:21 AM

Strong air conditioner sales, Beko gains could drive rerating in Voltas

The stock of the country’s largest Room Air Conditioner (RAC) maker, Voltas, is up 17 per cent from its May lows and 36 per cent over the last three months. In addition to robust demand on the back of a strong summer season, distribution expansion, new launches and backward integration are expected to help it sustain a strong operating performance going ahead. READ MORE