Nifty ends above 15,800

Nifty ends above 15,800: Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas:

The Nifty, with a gap-up opening, crossed the hurdle zone of 15700-15800. The index, however, couldn’t build upon the early gains & was in a consolidation mode post the positive start. 

Going ahead, the index can witness a brief consolidation near 15700-15800 before stretching higher. On the higher side, the Nifty is expected to test the crucial psychological mark of 16000, where there is 20-DMA as well. Overall structure shows that the benchmark index can trade with sideways to bullish bias in the short term. 

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities:

Bulls kept the momentum going for the third straight session, as buoyancy across the global markets boosted sentiment. The rally was led by IT stocks, which had come under relentless selling in the recent sell-offs. 

Market ends higher for 3rd day; Nifty ends above 15,800

While the change in mood has come as a major relief, the optimism may remain for a few more sessions before the market turns volatile amid concerns of a slowing global economy due to rate hikes and continuing foreign fund outflows. 

Currently, the market is trading near its important resistance level and the texture of the chart suggests there is a strong possibility of a quick intraday correction from the current levels. 

For day traders, 15900 and 15925 would act as immediate resistance levels. Below the same, the correction wave is likely to continue till 15750-15700. On the flip side, above 15925 breakouts, the index could move up to 16000. Contra traders can take a long bet near 15700 with a strict support stop loss of 15660.

Benchmarks jump for 3rd day; Nifty ends above 15,800; L&T rises 2.69%

Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty gained for the third consecutive session on June 27, though gave up some gains during the day. At close, Nifty was up 0.85% or 132.8 points at 15832.1. Among sectors, IT, Metals, and Capital Goods indices rose the most. The advance-decline ratio ended sharply in the positive even as the Smallcap index outperformed the Nifty. 

Falling inflation expectations and easing of COVID-19 restrictions in China that lifted global commodities helped assuage sentiments in global markets. 

Volumes on the NSE continue to be on the lower side suggesting a lack of conviction on the part of traders to take a big bet. Nifty in the current uptrend has entered the 15886-16172 down gap area, but has so far hesitated to build on gains. 15927-15638 could be the range for the Nifty in the near term. 

Market Roundup: Sensex climbs 433 points, Nifty ends above 15,800; check top gainers and losers

Vinod Nair, Head of Research at Geojit Financial Services:

Declining commodity prices have been lifting the exhausted domestic equity market during the recent sessions. Despite this positivity, the underlying fear of recession, tightening monetary policy and inflation can trigger the volatility going forward. 

A strong revival in the market can only be expected when the economy stabilizes from these uncertainties and when FIIs turn net buyers.

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services:

This is a segment where profitability is a few years away. Some of them might do well in the long run. But retail investors, instead of chasing hope, will be better off chasing solid stocks with strong fundamentals now. 

Sensex rises 433 pts, Nifty ends above 15,800; TechM, HCL gain, metals shine

Leading banks will report very good Q1FY23 results next month. That’s a bird in hand; e-commerce companies are birds in bushes.

Indian rupee ended flat at 78.34 per dollar against Friday’s close of 78.34.

Market Close: Benchmark indices ended higher for the third straight session on June 27 with the Nifty above 15800 amid buying across the sectors.

At close, the Sensex was up 433.30 points or 0.82% at 53,161.28, and the Nifty was up 132.70 points or 0.85% at 15,832. About 2311 shares have advanced, 1030 shares declined, and 140 shares are unchanged.

ONGC, Coal India, L&T, HCL Technologies, and Tech Mahindra were among the top Nifty gainers. The losers were Eicher Motors, Apollo Hospitals, HDFC Life, Reliance Industries, and Kotak Mahindra Bank.

All the sectoral indices ended in the green with capital goods, and IT indices rose 2 percent each.

Stock Market Today: Sensex jumps 433 points, Nifty ends above 15,800-mark; IT, metal stocks gain

The BSE midcap index added 0.8 percent and smallcap index added 1.5 percent.

Parth Nyati, Founder, Trading on Russia defaults on foreign debt:

We believe that the Russian Default on the foreign debt will be a non-event for Indian Stock Markets. The markets globally have already discounted this event however, there could be a possibility of further isolation of Russia from the west.

Further, the contribution of Russia to world GDP is nominal and due to high crude oil and natural gas prices, Russia has been able to earn record current account surpluses in foreign exchange, thus leading to the strong performance of the Russian Ruble despite the massive sanctions.

Stock Market LIVE Updates: Sensex jumps 433 points, Nifty ends above 15,800; IT stocks gain

Aurobindo Pharma receives a warning letter from SEBIWe have received a warning letter from the Securities Exchange Board of India (SEBI) on June 24, 2022, a copy of which is enclosed. The letter is in regards to certain disclosures made by the Company on the ongoing USFDA audit of the Company’s Unit-1 and observations made by the USFDA between the period 2019 to 2022, the company said in its release.

The SEBI warning letter observes that the Company had disclosed very limited and restricted information and that the Company did not disclose the detailed reasons and also did not consider-the observations of USFDA as serious.

The Company is advised to ensure compliance with all applicable provisions of SEBI Regulations and to place this warning letter before its Board of Directors in the ensuing Board Meeting. The Company is also instructed to disseminate this letter to the Stock Exchanges, it added. 

Stock Market Highlights: Sensex ends over 400 points higher, Nifty50 shuts shop above 15,800; Zomato ends 6% lower

Shivam Bajaj, Founder & CEO at Avener Capital:

Zomato’s acquisition of Blinkit for Rs 4,447 crore in an all-stock deal marked its entry into the emerging sector of “quick-commerce”. This deal shall provide cross-selling opportunities to Blinkit by gaining access to the 15mn active monthly users of Zomato and vice-versa. 

Further, the merger might yield synergies in terms of better utilization of Zomato’s hyperlocal delivery fleet and consequently reducing their cost of delivery. However, this high cash-burning sector houses fierce competition from the likes of Zepto, Dunzo, Swiggy Instamart BigBasket, etc and it will be interesting to see how this expensive investment by zomato pans out in the future. 

Moreover, whether Ola’s decision to exit the food delivery space to focus on its core streams of strength amidst the current market conditions should have been a learning lesson for zomato too, is a question that might be answered in the near future.

Sensex plunges over 1,400 pts at closing, Nifty ends below 15,800  

Indian Card Clothing approves acquiring the balance of 40% stake in Garnett WireBoard of Directors of Indian Card Clothing in its meeting held today, has declared a special interim dividend of Rs 25 per equity share of the face value of Rs 10 each to be paid as Special Interim Dividend for the financial year 2022-23. 

The board also approved the proposal of acquiring the balance 40% equity stake in Garnett Wire Ltd., UK – a foreign subsidiary of the Company, from the Joint Venture Partner – Joseph Sellers & Son Limited.

Benchmark indices were trading higher with Nifty above 15800.

The Sensex was up 454.04 points or 0.86% at 53182.02, and the Nifty was up 135.20 points or 0.86% at 15834.50. About 2332 shares have advanced, 866 shares declined, and 141 shares are unchanged.

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