Indian equity benchmarks closed
nearly one percent higher in the highly volatile session on Thursday, on the
back of gains in Auto, Consumer Discretionary and IT stocks despite fears of
rising interest rates and recession across the globe.

The Nifty50 has formed a
reasonable positive candle on the daily chart with minor upper and lower
shadows, according to Nagaraj Shetti, Technical Research Analyst at HDFC
Securities. A bounce on Thursday could be a
positive sign, he said.

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Indian Indices

Sensex rose 443.19 points or 0.86% to 52,265.72 and the
Nifty was up by 143.35 points or 0.93% to 15,556.65 in the previous session. Sensex
touched high and low of 52,516.79 and 51,632.85, respectively. There were 27
stocks advancing against 3 stock declining on the index. Nifty traded in a
range of 15,628.45 and 15,367.50. There were 45 stocks advancing against 5
stocks declining on the index.

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Broader Indices

The broader indices ended in green with the BSE Mid cap
index rising 1.40%, while Small cap index was up by 1.18%. On the sectoral
front, Auto was up by 4.42%, Consumer Discretionary was up by 2.40%, IT was up
by 1.87%, TECK was up by 1.85% and Telecom up was by 1.81%, while Energy down
by 0.47% and Oil & Gas down by 0.29% were the few losing indices on BSE.

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India VIX Index

Nifty or India VIX, a
gauge of the market’s expectation of volatility over the near term, rose 1.97%
to 20.88 on Thursday.

Support and
Resistance levels

The key
support level for the Nifty is placed at 15,191 followed by 15,183. If the
index moves up, the key resistance levels to watch out for are 15,565 and 15,707, according to pivot

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US Markets

The S&P 500 rose 35.84
points, or 0.95%, to 3,795.73.

The Dow Jones
Industrial Average rose 194.23 points, or 0.64%, to 30,677.36.

The Nasdaq rose 179.11
points, or 1.62%, to 11,232.19.

The Russell 2000
index of smaller companies rose 3.75 points, or 0.22%, to 1,690.28.

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Asian Markets

Asian markets ended mixed
on Thursday. The Nikkei 225 rose 0.08%, the Hang Seng rose 1.26%, the Shanghai
Composite rose 1.62% while the KOSPI Composite fell 1.22%.

European Markets

European markets
ended lower on Thursday, Germany’s DAX was down by 1.76%, France’s CAC 40 was down
by 0.56% and London’s FTSE 100 was down by 0.97%.

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Major News Headlines

Government orders independent probe
into Tata Nexon fire incident

The government has ordered an independent probe into a
Nexon electric vehicle (EV) catching fire in Mumbai, said a senior Road
Transport and Highways Ministry official. “We have ordered an independent
probe to investigate the Nexon EV fire incident,” the official told PTI.
The Centre for Fire Explosive and Environment Safety (CFEES), Indian Institute
of Science (IISc), and Naval Science & Technological Laboratory (NSTL),
Vishakhapatnam have been instructed to investigate the circumstances that led
to the incident and also suggested remedial measures. Responding to the
incident, Tata Motors said it is also investigating the incident of its Nexon
EV catching fire in Mumbai.

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Gautam Adani and his family pledge to donate Rs 60,00 crore
for social causes

Adani Group chairman Gautam Adani and his family have
pledged to donate Rs 60,000 crore to various social causes, to mark his 60th
birthday. The corpus will be administered by the Adani Foundation. The donation
will be handled by the Adani Foundations for strengthening healthcare,
education, and skill development, Adani told Bloomberg in an interview.

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IIFL Finance board approves raising Rs 5,000 crore by
issuing bonds

IIFL Finance is looking to raise debt capital worth Rs
5,000 crore by issuing bonds on a private placement basis, the company said on
Thursday. The bonds will be offered via public issue, subject to regulatory and
statutory approvals, IIFL said in a regulatory filing. “The board of
directors of the company at their meeting held today, June 23, 2022, approved
the raising of funds by way of issuance of secured redeemable non-convertible
debentures with the shelf limit of Rs 50,000 million, in one or more tranches,”
it added.

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Hero MotoCorp to hike motorcycle, scooter prices by up to
Rs 3000 from July 1

India’s largest two-wheeler maker Hero MotoCorp on Thursday
said it will increase prices of motorcycles and scooters by up to Rs 3,000 from
July 1 to partially offset the steadily growing overall cost inflation,
including commodity prices. In a regulatory filing, the company said, “The
exact quantum of increase will be subject to the specific model and
market”. The price revision has been necessitated to partially offset the
steadily growing overall cost inflation, including commodity prices, the
company added.

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Bulk Deal data

LIMITED bought 50,000 shares in Ambani Organics Limited at Rs 104.00 per share
on the NSE.

RAJNIKANT SHAH sold 43,50,000 shares in Supreme Engineering Limited at Rs 2.65 per
share on the NSE.

SAKARIA HUF DAKSH CORPORATION bought 54,01,000 shares in Supreme Engineering
Limited at Rs 2.65 per share as per NSE.

KISHAN LAL (HUF) sold 75,000
shares in Sonu Infratech Limited at Rs 35.00 per share as per NSE.

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DII and FII data

Foreign institutional
investors (FIIs) sold shares worth a net Rs 2,319.06 crore, while domestic
institutional investors (DIIs) bought shares worth a net Rs 2,438.31 crore in
the Indian equity market on June 23, as per provisional data available on the


Delta Corp, Indiabulls
Housing Finance, RBL Bank and Sun TV Network are under the F&O ban for June
24. Securities in the ban period under the F&O segment include companies in
which the security has crossed 95% of the market-wide position limit.