Nifty ends in green for 6 straight sessions; M&M up 3.5%
The benchmark Nifty remained in a consolidation mode for second consecutive day but it closed in a positive terrain for sixth straight day. Global cues were also quite supportive today; Asian markets ended 0.9-1.8% higher.
European markets were trading marginally higher, at the time of closing of Indian equities. The US markets were closed 2-2.8% higher on Tuesday; a successful debt offering from Spain and Ireland aided sentiment.
"Gradually, there is a return of some amount of optimism in the market over the last three-five days. We seeing that at lower levels there is continuous buying interest, which has come into the market again. This time around also it got proven true. So given that there is global turmoil in the markets keeps on capping off at some level around 17,500-18,000 to about 5,400-5,500 on the Nifty," says Naresh Kothari, President of Edelweiss Capital.
The 30-share BSE Sensex closed at 17,462.87, up 50.04 points or 0.29% and the 50-share NSE Nifty rose 11 points or 0.21% to settle at 5,233.35.
Anil Dhirubhai Ambani Group and Mukesh Ambani group companies’ shares were the most active ahead of Reliance Industries AGM on June 18. Reliance Natural Resources, Reliance Industrial Infrastructure, Reliance Capital and Reliance Communications were the most active shares.
CNBC-Awaaz learns from sources that Reliance Industries (RIL) is looking at acquiring 26% stake in Anil Ambani backed Reliance Communications.
CNBC-TV18 learns that the Mukesh Ambani-led RIL is bidding for ultra mega power projects (UMPPs) in Chhattisgarh, Orissa and Tamil Nadu. Sources inform that the company is in the process of purchasing request for quotation (RFQ) documents for the 4,000 megawatt project.
Tata Steel, Tata Motors and Sterlite Industries were other most active shares. ICICI Bank and HDFC from financial space gained 1.9% each. HDFC Bank rose 0.6%. However, Axis Bank and IDFC fell nearly 2%. PNB and Kotak Mahindra Bank declined 0.8% each. SBI was flat.
Infosys and TCS from technology pack went up over 1%. Wipro was up just 0.15% while HCL Tech slipped 0.55%. M&M was the top gainer on Nifty; rallied 3.5%. Tata Motors went up 2.7% as its global sales jumped 50% to 79,819 units in May. Maruti was up 1.6% while Hero Honda fell 0.5%.
Sterlite Industries from metal space rose 2%. Hindalco was up just 0.3% while Jindal Steel, SAIL and Tata Steel declined 0.5-1.7%.
DLF from realty segment went up 1.85% while Unitech went down 0.35%. Cairn India, GAIL and BPCL from oil & gas space rose 0.3-1% while Reliance Industries was down 0.76% and ONGC down 0.16%.
Idea Cellular from telecom pack gained 1.1% and Reliance Communications was up 0.3%. However, Bharti fell 1.3%.
HUL from FMCG segment slipped 1.6% and ITC was down 0.3%. BHEL, L&T and ABB from capital goods space lost 0.2-0.4% while Siemens gained 0.3%.
In the power space, NTPC, Power Grid, Reliance Power, Tata Power and Reliance Infrastructure were down 0.4-1.5%.
In the midcap space, MTNL, Bajaj Electrical, Gammon Infra, TataTeleservices and Honeywell Automation gained 6-10%. However, Sadbhav Engg, Kwality Dairy, Syndicate Bank, IFCI and Dena Bank fell 2.7-6%.
In the smallcap space, TTK Prestige surged 18% and Resurgere Mines was up 17.19%. IFB Industries, Delta Corp and Relaxo Footwear were up 10.55-11%. However, Binani Cement, Vindhya Telelink, Subhkam Capital, Kanani Industries and Balaji Telefilm lost 4.5-7%.
Advances outnumbered declines; about 1641 shares advanced while 1464 shares declined on BSE. Nearly 206 shares remained unchanged. The markets reported total turnover of Rs 1,12,369.04 crore. This included Rs 14,361.33 crore from NSE cash segment, Rs 93,203.13 crore from NSE F&O and balance Rs 4,804.58 crore from BSE cash segment.
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