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The S&P BSE Sensex closed 0.7% higher at 52,699, after it touched an intraday record high of 53,5307 on Tuesday. The NSE Nifty 50 Index also gained nearly 0.7% to 15,790.45, near an all-time high reached last week.
The broader market underperformed their larger peers. The S&P BSE MidCap lost 0.51% and S&P BSE SmallCap fell 0.22% Eleven of the 19 sector sub-indexes compiled by BSE Ltd. climbed, led by a gauge of information technology companies.
The S&P BSE Energy was the worst performing sectoral benchmark, down 2.15%.
The market breadth was slightly skewed in favour of the bears. About 1,459 stocks gained, 1,743 declined and 148 remained unchanged.
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Retail investors lapped up shares of India Pesticides Ltd. on the second day of its initial public offering as well, while institutional investors continued to stay away.
The Lucknow-based fungicides and herbicide maker was subscribed 2.10 times as of 1 p.m. on June 24, according to exchange data.
Institutional subscription: 0.00 times.
Non-institutional investor subscription: 0.38 times.
Retail subscription: 4.03 times.
Employees: 0.00 times.
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‘Big Bull’ Investor Sees Years of Double-Digit India Stock Gains
The Indian rupee rises for a second day, while most other emerging Asian currencies decline, as accelerating vaccinations brighten the prospect of a faster economic recovery. A billionaire investor, locally known as India’s Warren Buffet says Indian stocks’ bull phase will last very long.
USD/INR falls 0.1% to 74.23 on Thursday
USD/INR is moving in a range of 74.00 to 74.50 with flows on upside bringing it down, says Anil Kumar Bhansali, head of treasury at Finrex Treasury Advisors
Buyers like oil companies taking it up and not allowing a fall below 74
“The strength in the dollar after a hawkish Fed is imminent despite the damage control by Powell in his testimony”
Shyam Metalics Ltd. listed at Rs 367 apiece, 20% higher than its issue price of Rs 306 on June 24, according to exchange data. The stock rose as much as 30% thereafter.
Sona BLW Forgings Ltd. (Sona Comstar) listed at Rs 302.40 apiece, 3.3% higher than its issue price of Rs 291 on June 24, according to exchange data. The stock rose as much as 24% thereafter.
Godrej Industries, which holds ~60.2% stake in the company, acquired additional 976,047 shares, or 0.5% stake Tuesday, according to data on bulk deals released by BSE
Balram Singh Yadav, an individual investor, holding about 2.2% stake in the company as of March 31, sold 1m shares yesterday, the data showed
A 7,700% Stock Surge Is About to Face a Reality Check in India
Indian key stock gauges advanced to hold near recent record highs helped by gains in information technology companies, while the country’s faster vaccination campaign continued to boost investors’ sentiment.
The S&P BSE Sensex rose 0.5% to 52,569.01, after it touched an intraday record high of 53,5307 on Tuesday. The NSE Nifty 50 Index also gained 0.4% to 15,742, near an all-time high reached last week. Thirteen of the 19 sector sub-indexes compiled by BSE Ltd. climbed, led by a gauge of information technology companies.
The gains are helped by surging pace of vaccination in the country, boosting investors’ expectations of quicker recovery in economic activities.
“Markets are looking comfortable as of now,” said Sandeep Jain, a strategist with Tradeswift Broking. Rising crude prices and inflation are major overhangs for Indian equities, he said, adding investors will however continue to focus on the ramp-up of vaccination and dropping virus cases in the country.
Shyam Metalics & Energy Ltd.’s shares to start trading after IPO gets 121.4 times demand for shares offered
Sona BLW Precision Forgings Ltd.’s shares to start trading after IPO gets 2.3 times demand for shares offered
India Pesticides IPO fully subscribed, gets 129% demand on first day of sale, offer closes June 25
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