Auto, metal, FMCG shares lift Sensex 119 pts up; Broader markets outshine

CLOSING BELL ON JUNE 02, 2023: The NSE Nifty 50 finished 46 points higher at 18,534; Hero MotoCorp, Apollo Hospitals and Hindalco rallied over 3 per cent each.

9:55 AM

EXPERT COMMENT | Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

A dominant economic trend which has implications for investment is India’s improving economic fundamentals in a challenging global environment. Apart from the better-than-expected FY23 GDP growth rate, high frequency indicators like GST collections, manufacturing PMI, auto sales in May and impressive credit growth indicate a robust and steadily improving economy. FY24 GDP growth is likely to be revised up to around 6.5 per cent and consequently corporate earnings for FY24 also will be revised up. This scenario, in the context of inflation (4.7 per cent in April) coming within RBI’s tolerance limit and peaking of interest rates, augurs well for equity markets in H2 of CY2023. An important trend in the market is the outperformance of the broader market. Expect lots of stock specific action even within range-bound movement of the Nifty.

9:50 AM

SJVN signed project development agreement in Nepal; stock gains 1%

The company signed a project development agreement for 669-MW Lower Arun Hydro Electric Project in Nepal. The project shall be constructed in five years at a cost of Rs 5,792 crore with a levelised tariff of Rs 4.99 per unit, said the company.

9:46 AM

AstraZeneca rises 1% after CDSCO grants approval for its cancer drug

The company received approval from the Central Drugs Standard Control Organisation (CDSCO) for its cancer drug Tremelimumab Concentrate. 

9:40 AM

NHPC up 1% after it inks pact with Nepalese utility company for 480 MW hydro project

The state-owned hydro power major signed agreement with Nepalese utility Vidhyut Utpadan Company to develop a 480 megawatt (MW) Phukot Karnali hydroelectric project. 

9:37 AM

HDFC Life, Cipla, Eicher Motor top Nifty50 laggards

9:34 AM

Hero Moto, Hindalco, Britannia top Nifty50 leaders

9:31 AM

Nifty Metal, Realty indices surge 1%; Pharma stocks slump

9:27 AM

Broader markets outperform; India VIX skids 2%

9:26 AM

SENSEX HEATMAP: 4 out of 30 index counters slip in red; Tata Steel up 1%

9:21 AM

OPENING BELL | Nifty50 above 18,550 levels, gains over 50 pts

9:18 AM

OPENING BELL | Over 200 pts advance for Sensex, trades above 62,600

9:08 AM

PRE-OPEN SESSION | Sensex rises over 50 pts, above 62,500

9:05 AM

PRE-OPEN SESSION | Nifty50 above 18,550, up over 50 pts

9:01 AM

Rupee opens at 82.31/$ as against previous close of 82.76/$

8:57 AM

GQG adds more Nvidia, considers increasing exposure to Adani, says CIO

Jain said the asset manager is considering raising its exposure to Adani by participating in capital increases the group announced in May. READ