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Rupee closed 16 paise weaker against US dollar at 86.75
It closed at 86.59 a dollar on Friday.
Source: Bloomberg
Rupee closed 16 paise weaker against US dollar at 86.75
It closed at 86.59 a dollar on Friday.
Source: Bloomberg
Nifty and Sensex close more than 0.5% lower after recovering 150 points from lows.
In the Nifty 50, 15 out of 50 stocks gain.
Infosys and HCL Tech are the top losers in Nifty and Nifty IT.
Nifty IT fell the most, becoming the worst performing sector for the day.
Broader Market Indices outperformed Benchmark Indices
Nifty Midcap 150 and Smallcap 250 gains for the second day in a row.
MRPL and Poonawala Fincorp are the top gainers in Nifty Midcap 150.
Zee Entertainment and Chennai Petro Corp are the top gainer in Nifty smallcap 250.
Nifty Media, Metal, Oil and Gas, Pharma gains for the second day in a row.
Nifty Auto snaps 3-day gaining streak.
Nifty and Sensex close more than 0.5% lower after recovering 150 points from lows.
In the Nifty 50, 15 out of 50 stocks gain.
Infosys and HCL Tech are the top losers in Nifty and Nifty IT.
Nifty IT fell the most, becoming the worst performing sector for the day.
Broader Market Indices outperformed Benchmark Indices
Nifty Midcap 150 and Smallcap 250 gains for the second day in a row.
MRPL and Poonawala Fincorp are the top gainers in Nifty Midcap 150.
Zee Entertainment and Chennai Petro Corp are the top gainer in Nifty smallcap 250.
Nifty Media, Metal, Oil and Gas, Pharma gains for the second day in a row.
Nifty Auto snaps 3-day gaining streak.
LT Foods' arm, Ecopure Specialities, has received a preliminary notice from the US Commerce Department. The department has levied a 340% countervailing duty on sales during January to December 2023, amounting to Rs 50 crore.
GAIL(India) Ltd. will likely invest Rs 844 crore for capacity addition, the company said in the exchange filing.
Solar Industries' arm Solar Defence received Rs 158 crore order for supply of defence product with Defence Ministry, the exchange filing said.
NBCC (India) Ltd. has secured an order worth Rs 297 crore for re-development projects from the Meerut Development Authority in Uttar Pradesh.
Walmart's Phonepe sought $1.5 billion for initial public offer in India, Bloomberg reported.
Adani Enterprises Ltd. has commissioned India's first off-grid green hydrogen pilot plant with a capacity of 5 MW. This marks a significant milestone towards advancing India's National Hydrogen Mission.
Ideaforge Technology India Ltd. share price hit a 10% upper circuit and rose to Rs 631 apiece. The has received an order worth Rs 137 crore. The order is to supply mini UAVs with accessories to Defence Ministry.
Ideaforge Technology India Ltd. share price hit a 10% upper circuit and rose to Rs 631 apiece. The has received an order worth Rs 137 crore. The order is to supply mini UAVs with accessories to Defence Ministry.
Waaree Renewables Technologies has signed a Memorandum of Understanding (MoU) for the execution of Engineering, Procurement, and Construction (EPC) work for a solar power project. This MoU is with Viet Khanh Joint Stock Company for a solar project with a capacity of 100 MWp on a turnkey basis.
Zee Entertainment Enterprises Ltd. share price rose more than 9% on Monday after the company, in its investor presentation, announced plans of breaking even from its Zee5 Earnings Before Interest Tax Depreciation and Amortisation or Ebitda Losses in the current financial year.
Zee Entertainment Enterprises Ltd. share price rose more than 9% on Monday after the company, in its investor presentation, announced plans of breaking even from its Zee5 Earnings Before Interest Tax Depreciation and Amortisation or Ebitda Losses in the current financial year.
The shares of BEML rose 2.49% to Rs 4,755 on Monday, but pared gains to trade 0.76% higher at Rs 4,674.60 per share.
The shares of Swiggy, fell nearly 3% to Rs 378.05 on Monday, but pared gains to trade 0.51% higher at Rs 391.50 per share.
The shares of Swiggy, fell nearly 3% to Rs 378.05 on Monday, but pared gains to trade 0.51% higher at Rs 391.50 per share.
Bharat Electronics Ltd. share price rose 2.12% to Rs 416.90 after it bagged additional orders worth Rs 585 crore.
The state-owned company will supply fire control and sighting system for missiles, communication equipment, jammers and spares, as part of the orders.
Defence companies were trading in green on Monday, amid the ongoing Iran-Israel conflict, with shares of Ideaforge Technology Ltd., Paras Defence Ltd., Zen Technologies Ltd., Garden Reach Shipbuilders and Engineers Ltd. and Cochin Shipyard Ltd. leading the rally.
The Nifty India Defence index was trading 0.72% higher at 9:45 a.m., compared to a 1.08% decline in the benchmark Nifty 50.
Read full story here.
Shares of Aditya Birla Lifestyle Brands Ltd. listed on exchanges at 167.75 per share on both NSE and BSE on Monday, June 23, following its demerger from Aditya Birla Retail and Fashion Ltd.
The benchmark indices fell 1% after US strike on Iran raised concerns that Iran may block the shipping access in Strait of Hormuz. Nifty fell below 25,000 while Sensex was down nearly 800 points.
Nifty 50 fell 1.01% to decline to 24,858.75 level, while Sensex was down 1.02% to 81,567.68.
Read about the key reasons for the decline here.
Ola Electric Mobility Ltd.'s share price plummeted to an all-time low, dropping over 6% following a major block deal. The company saw 44 lakh shares trade at a price of Rs 44.1 per share, resulting in 0.8% of its equity changing hands across seven blocks.
Read full story here.
Most IT stocks declined on Monday with Infosys leading the fall after Accenture results last week.
Most IT stocks declined on Monday with Infosys leading the fall after Accenture results last week.
Over 0.08% stake of Ola Electric were traded via seven block deals on Monday. The share of Ola Electric fell as much as 6.34% to Rs 43.16 apiece.
While Nifty IT and Nifty Metal led the decline, Nifty Defence was the only sector that was in green amid the rising tensions between Iran and Israel.
While Nifty IT and Nifty Metal led the decline, Nifty Defence was the only sector that was in green amid the rising tensions between Iran and Israel.
Infosys, Reliance Industries, HDFC Bank, ICICI Bank and Axis Bank weighed on the Nifty 50 index.
Bharat Electronics, Nestle, Bharti Airtel, ONGC and Cipla added to the Nifty 50 index.
Infosys, Reliance Industries, HDFC Bank, ICICI Bank and Axis Bank weighed on the Nifty 50 index.
Bharat Electronics, Nestle, Bharti Airtel, ONGC and Cipla added to the Nifty 50 index.
The NSE Nifty 50 and BSE Sensex opened lower on Monday. The Nifty 50 opened 0.69% lower at 24,939.75 after it ended in green in the previous session and Sensex opened 0.85% down at 81,704.07.
"The critical resistance is now set at 25,200, with the support level adjusted higher to 24,900," said Aditya Gaggar, Director of Progressive Shares.
The NSE Nifty 50 and BSE Sensex opened lower on Monday. The Nifty 50 opened 0.69% lower at 24,939.75 after it ended in green in the previous session and Sensex opened 0.85% down at 81,704.07.
"The critical resistance is now set at 25,200, with the support level adjusted higher to 24,900," said Aditya Gaggar, Director of Progressive Shares.
At pre-open, the NSE Nifty 50 was trading 172.65 points or 0.69% lower at 24,939.75. The BSE Sensex was 0.86% or 708.23 points lower at 81,699.94.
Rupee opened 15 paise weaker at 86.59 against US Dollar. It closed at 86.59 on Friday.
Source: Bloomberg
The dollar index is up at 99.01. Brent crude was trading 1.55% higher at $78.20.
Tata Steel receives notice for Rs 162 crore input tax credit. The show cause notice is for irregularly availing input tax credit.
Source: Exchange Filing
Closure of the Strait of Hormuz is an immediate concern to markets, according to Steve Englander, global head of G10 FX Research & North America Macro Strategy, Standard Chartered Bank.
There is a reaction in the oil market, but not as much as feared, Englander told NDTV Profit on Monday. Englander noted that, at the moment, global oil inventories are quite high, which means there won’t be any immediate supply issue, even though some damage could still be done.
Read full story here.
Citi
Citi believes the relaxation of PSL targets for small finance banks is a structural relief.
The change allows small finance banks greater operational flexibility and supports portfolio diversification.
AU Small Finance Bank cited its organic PSL build-up as a rationale for its MFI acquisition.
Post-merger, AU SFB was fully compliant with overall and sub-sector PSL norms in financial year 2025.
Citi notes that the benefit of the revised PSL norms should be evaluated in light of AU SFB’s stated intent to transition into a universal bank, where the PSL requirement stands lower at 40%.
Morgan Stanley
Morgan Stanley considers the RBI’s move to lower PSL requirements for small finance banks as a structural positive.
This change enhances small finance bank's portfolio diversification capabilities and operational ease.
It is expected to support higher long-term growth run-rates.
AU Bank estimates its current PSL portfolio at 80%.
A key benefit is the potential for additional income from the sale of PSLC certificates.
However, Morgan Stanley notes the surplus in small and marginal farmer segments for the bank is limited.
Nifty June Futures up by 1.18% to 25,096 at a discount of 16 points.
Nifty June futures open interest down by 2%.
Nifty Options June 26 Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 25,000.
25,000 PE saw the highest open interest change.
Securities in ban period: Aditya Biral Fashion, Biocon, RBL Bank, Titagarh.
The US Dollar index is up 0.21% at 98.92.
Euro was down 0.15% at 1.1505.
Pound was down 0.12% at 1.3434.
Yen was up 0.23% at 146.44.
West Texas Intermediate crude rose 2.7% to trade at $75.87 per barrel.
Spot gold declined by 0.10% to $3,364.95 per ounce.
Brent crude rose 2.82% to $79.18.
London Metal Exchange
Copper was up 0.28%.
Aluminium snapped two day gaining streak and fell 0.15%.
Zinc was flat after it declined 0.09% after in the previous session.
Nickel was flat after it advanced in the previous session.
Lead snaps five day losing streak to rise 0.15%.
Stocks fell on Monday after US strikes on Iran's nuclear sites over the weekend. However, US stock-futures dropped on Monday morning.
S&P 500 futures fell 0.4%.
Hang Seng index futures were down 0.5%.
Futures for the Nikkei 225 was down 0.6%.
Japan’s Topix index fell 0.5%.
Australia’s S&P/ASX 200 index fell 0.4%.
Euro Stoxx 50 futures were down 0.6%.
Good morning.
The GIFT Nifty was trading below 25,000 early on Monday. The futures contract based on the benchmark Nifty 50 fell 0.61% at 24,976 as of 6:55 a.m. indicating a muted start for the Indian markets.
In the previous session on Friday, the benchmark equity reversed their declining streak. The NSE Nifty 50 ended 319.15 points or 1.29% higher at 25,112.40, while the BSE Sensex closed 1,046 points or 1.29% higher at 82,408.
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