IT stocks shine in lacklustre trade; Sensex ends 99 pts higher

CLOSING BELL ON JUNE 12, 2023: The Nifty reclaimed the 17,600 level; In the broader market, BSE Midcap index advanced 0.5 per cent, and Smallcap added 0.7 per cent on Monday.

4:13 PM

Tech View :: 'Investors have conflicting opinions regarding the future direction of Bank Nifty'

The Bank Nifty index has been trading in a range-bound manner, indicating a lack of clear direction in the market. This trend persisted during the trading session. The market seems uncertain and cautious as it awaits key events such as the release of CPI data and the US Federal Reserve meeting. Heavy open interest in the 44000 Call Option (CE) and Put Strike suggests a significant level of trading activity and a fight between the bears and the bulls. This indicates that market participants have conflicting opinions and expectations regarding the future direction of the index.

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

4:06 PM

Tech View :: Charts show consolidation to continue in Nifty

The Nifty witnessed rangebound price action today. It traded within the range (18677 – 18555) of the previous trading session and closed with gains of 38 points. On the daily charts, we can observe that the Nifty has closed in the green after falling for two consecutive days. Nifty has managed to hold on above the 18530 level below which the uptrend is likely to change. The hourly momentum indicator has triggered a fresh positive crossover, however, the daily momentum indicator has a negative crossover and thus provides divergent signals. The Bollinger bands are contracting indicating that there can be a consolidation. Thus, both price and momentum indicators is suggesting that there could be a consolidation in the near term and the overall uptrend is still intact. In terms of levels, 18530 – 18500 shall act as a crucial support zone while 18778 – 18800 shall act as an immediate hurdle zone.

Views by: Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas

4:02 PM

Market Strategy :: 'Focus more on stock selection and risk management'

It is a normal pause after the recent dip and participants shouldn’t read much into it. We feel the performance of the banking index, which is currently trading closer to the crucial support zone of short term moving average i.e. 20 EMA, would play a crucial role in the next directional move. Meanwhile, we reiterate our view to focus more on stock selection and risk management.

Views by: Ajit Mishra, VP - Technical Research, Religare Broking Ltd.

3:52 PM

Comment :: Why are Indian markets range-bound?

The domestic indices are moving with caution as investors step up to a data-loaded week both in the domestic and global markets. However, the expectations are optimistic, like the Indian CPI data is forecasted to moderate and the Fed & BoJ are expected to maintain their policy rates. Other major events on the centre stage are domestic IIP, WPI inflation, and policy announcements from ECB. The market anticipates ECB to increase their rates further while recessionary risk is rising.

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

3:50 PM

ALERT :: UBS names Credit Suisse's Head, Mihir Doshi, as India Head

3:49 PM

Currency check :: Rupee ends at 82.43/$ against Friday’s close of 82.46/$

3:45 PM

Buzzing stock :: PTC Industries freezes at 20% upper circuit on robust outlook

3:42 PM

Buzzing stock :: Tata Motors DVR tops Rs 300-mark intra-day after 6 years

3:41 PM

Buzzing stock :: Delhivery zooms 9% on heavy volumes

3:38 PM

Broader market rally extends on the bourses, SmallCap index up 0.7%

3:37 PM

Sectoral trends :: Private banks, pharma slide, IT index outshines

3:35 PM

Sensex Heatmap :: 10 of 20 stocks end in red; IT stocks lead, L&T, Maruti drag

3:34 PM

CLOSING BELL :: Nifty ends flat with positive bias

3:33 PM

CLOSING BELL :: Sensex ends 99 pts higher in a lackluster session

3:22 PM

Tata Motors DVR jumps nearly 3%; crosses Rs 300 mark after over 6 years

With debt on a substantial downward trajectory and consequently interest outgo, it outlined its intention to commensurately increase dividends, going forward positive for DVR shareholders. READ MORE