The stock market made a strong start on the expiry day of June deals in the futures market. NSE's 50-share Nifty opened 50 points higher at 15,737 points. The 30-share Sensex of BSE also started strong. It opened at 52,514 points with a strength of about 200 points.
Sensex is getting support from buying in Infosys, L&T, TCS, Bajaj Finance and HDFC Bank. Selling pressure in Power Grid, NTPC, RIL, Bharti Airtel and ONGC is building up. L&T, Infosys, TCS, Bajaj Finance and HDFC Bank shares are also supporting Nifty. Selling pressure in RIL, Coal India, Power Grid, Adani Port and Eicher Motor is building up.
There is all-around buying in the stock market, but there is weakness in the mid-cap and small-cap indices of Nifty. The market is currently getting support from buying in IT, bank and metal stocks. There is weakness in Nifty Pharma and Energy indices.
There is weakness in India VIX which tells how much Nifty can climb on a yearly basis in the next 30 days. A fall in this index suggests that the stock market may continue to rally. A rise from the lower levels is a sign of increasing movement with the market remaining firm.
The eyes of the market will be on Reliance Industries (RIL). Its shares are currently trading flat. Today is its 44th Annual General Meeting (AGM). The company's chairman Mukesh Ambani will tell about future growth plans.
These two companies are Shyam Metallics and Sona Comstar. Shyam Metaliks got listed on BSE at Rs 367.00 which is 19.93% higher than the issue price. The issue price of the company's shares was Rs 306. It's listing on NSE was up 24.18% at Rs 380. During trading, it went up to Rs 399 on BSE and NSE. Its issue was subscribed 121 times.
The listing of Sona Comstar shares has been weak in comparison to Shyam Metaliks. With an issue price of Rs 291, the stock got listed on the BSE, up just 3.92% at Rs 302.40. It was also listed on NSE at Rs 301 with a nominal premium of 3.44%. The stock, which went up to Rs 361 in the rally, had fallen to 295.15 in early trade. Its issue has been subscribed only 2.28 times.
On Wednesday, both the important stock indices closed with a fall of almost half a per cent. The BSE Sensex was down 282 points at 52,306. NSE Nifty closed 85 points down at 15,687 points. The mid-cap index fell by about 0.18%, while the small-cap fell 0.50%. In the sector index, except Nifty Auto (0.46%), all the other indices were weak. The biggest fall of 1.13% came in the Nifty Metal Index.
Today the financial results of these companies are going to come: Andhra Petro, Ashok Leyland, Bodal Chemical, Everest Kanto, ONGC, PTC India.
Barring Japan, the rest of the Asian stock markets remained strong. Japan's Nikkei index closed down 0.05%. Hong Kong's Hang Seng added 0.25%. China's Shanghai Composite gained just 0.01%. Korea's Kospi jumped 0.30%. Australia's All Ordinary closed down 0.17%.
On Wednesday, there was a mixed trend in the US markets. The Dow Jones closed down 0.21%. The Nasdaq gained 0.13%. The S&P 500 lost 0.11%.
According to provisional data available on the NSE, on Friday, June 23, foreign institutional investors (FIIs) bought shares worth a net Rs 3,156 crore. That is, he bought shares of so many rupees more than the number of shares he had sold. Domestic institutional investors (DIIs) had bought shares worth a net Rs 1,317 crore.
Like and Follow us on :
