Extending gains for second day,
Indian equity benchmarks ended higher by nearly a percent on Friday, on account
of buying in telecom, auto, utilities and power stocks amid firm trend in the
global market. Key indices made positive start and stayed in green for whole
day, as sentiments got a boost with a private report stating that the Indian
economy can grow by 7-7.8% this financial year on the back of better
agriculture production and a revitalised rural economy amid global headwinds
mainly due to the ongoing Russia-Ukraine war.
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The Nifty50 has formed a small
positive candle on the daily chart, suggesting a follow-through upmove in the
market, according to Nagaraj Shetti, Technical Research Analyst at HDFC
Securities.
He expects strong resistance at
15,800. “A decisive breakout above that level has been missing in the
recent upmove,” he pointed out.
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Sensex rose 462.26 points or 0.88% to 52,727.98 and the
Nifty was up by 142.60 points or 0.92% to 15,699.25 in the previous session. Sensex
touched high and low of 52,909.87 and 51,447.25, respectively. There were 23
stocks advancing against 7 stock declining on the index. Nifty traded in a
range of 15,749.25 and 15,619.45. There were 39 stocks advancing against 11
stocks declining on the index.
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Broader Indices
The broader indices ended in green with the BSE Mid cap
index rising 1.53%, while Small cap index was up by 1.60%. On the sectoral
front, Telecom was up by 2.53%, Auto was up by 1.98%, Utilities was up by
1.76%, Power was up by 1.73% and Consumer Discretionary up was by 1.68%, while
IT down by 0.59% and TECK down by 0.23% were the top 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, fell 0.33%
to 20.55 on Friday.
SGX Nifty
The trends on SGX Nifty indicate
a positive opening for the index in India with a 126 points gain. The Nifty futures were trading at
15,846.80 on the Singaporean Exchange around 06:40 hours IST.
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Support and
Resistance levels
The
key support level is 15,629 followed by 15,560. If the index moves up, the key
resistance levels to watch out for are 15,759 and 15,819, according to pivot
charts.
The S&P 500 rose 116.01 points, or 3.1%, to 3,911.74.
The Dow Jones Industrial Average rose 823.32 points, or 2.7%, to 31,500.68.
The Nasdaq rose 375.43 points, or 3.3%, to 11,607.62.
The Russell 2000 index of smaller companies rose 54.06 points, or 3.2%, to 1,765.74.
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Asian Markets
Asian markets ended higher
on Friday. The Nikkei 225 rose 1.23%, the Hang Seng rose 2.09% and the Shanghai
Composite rose 0.89%.
European Markets
European markets
ended higher on Friday, Germany’s DAX was up by 0.77%, France’s CAC 40 was down
by 1.83% and London’s FTSE 100 was down by 1.34%.
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Major News Headlines
Zomato board approves acquiring Blinkit for Rs 4447 crore
The online food-delivery giant informed exchanges that the
company board had approved the acquisitions of up to 33,018 equity shares of
quick commerce company Blink Commerce (BPCL, formerly Grofers India) for Rs
4,447.48 crore in an all-stock deal. The acquisition is at a price of Rs 13,46,986.01
per share. The acquisition is a part of its strategy of investing in the quick
commerce, it said.
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Dr Reddy’s Labs acquire Eton Pharma’s injectable products for $50 million
The pharmaceutical company announced the acquisition of
branded and generic injectable product segment of US-based Eton Pharma. It
bought the Eton portfolio for an upfront payment of $5 million in cash plus
contingent payment of up to $45 million. According to a press release from the Indian
drug maker, the the portfolio includes the Biorphen (phenylephrine
hydrocholoride) injection and Rezipres (ephedrine hydrochloride) injection NDAs
(New Drug Applications) with nine separate combinations of strengths and
presentations and one first-to-file approved ANDA (abbreviated new drug
application) for Cysteine Hydrochloride for the USA.
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BNP PARIBAS ARBITRAGE
sold 44,40,406 shares in Dhani Services Limited at Rs 29.16 per share on the
NSE.
VIRTUE CERAMICS
PRIVATE LIMITED bought 15,00,000 shares in Globe Textiles (I) Limited at Rs 6.90
per share on the NSE.
NIRAJ RAJNIKANT SHAH
bought 7,00,000 shares in Moksh Ornaments Limited at Rs 18.07 per share as per
NSE.
MAVERICK SHARE
BROKERS PVT LTD sold 68,800 shares in Network People Srv Tech Limited at Rs
87.92 per share as per NSE.
INVESCO MUTUAL FUND
A/C – INVESCO INDIA MULTICAP FUND sold 3,73,659 shares in Repco Home Finance
Limited at Rs 117.00 per share on the NSE.
ALPHA LEON
ENTERPRISES LLP bought 2,63,425 shares in Tree House Edu Limited at Rs 13.90
per share on the NSE.
PRAVEEN MUDUNURI sold
11,200 shares in Vivo Collab Solutions Limited at Rs 140.45 per share as per
NSE.
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Foreign institutional
investors (FIIs) sold shares worth a net Rs 2,353.77 crore, while domestic
institutional investors (DIIs) bought shares worth a net Rs 2,213.44 crore in
the Indian equity market on June 24, as per provisional data available on the
NSE.
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Delta Corp, Indiabulls
Housing Finance, RBL Bank and Sun TV Network are under the F&O ban for June
27. 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.
