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Trade Setup: Top 14 things to know before market opens on June 24, 2022

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
Nifty or India VIX, rose 1.97% to 20.88 on Thursday
Asian markets ended mixed on Thursday

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 charts.

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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

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

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

VIKRAMKUMAR KARANRAJ 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 NSE.

NSE F&O Ban

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.

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Trade Setup: Top 14 things to know before market opens on June 24, 2022

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