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Sensex up 393 pts at close, Nifty at 15,744; realty, pharma top gainers

Market closing: Sensex, Nifty closed around 0.65% higher on Thursday. (Reuters)Premium
Market closing: Sensex, Nifty closed around 0.65% higher on Thursday. (Reuters)

  • Market closing: Benchmark Indian equity indices were up 0.65% at close on Thursday. The Sensex closed at 52,300.47, up 358.83 points, or 0.69% while the Nifty was at 15,737.75, up 102.40 points, or 0.65%. All sectors except auto closed in red

Indian markets closed higher on Thursday, gaining 0.65%, on cues from Asian peers. All eyes are now on the release of key US inflation data which could indicate the Fed's stance on liquidity.

10 Jun 2021, 03:49:12 PM IST

Market closing

Benchmark Indian equity indices were up 0.65% at close on Thursday. The Sensex closed at 52,300.47, up 358.83 points, or 0.69% while the Nifty was at 15,737.75, up 102.40 points, or 0.65%. All sectors except auto closed in red. Among broader indices, BSE midcap and smallcap indices closed 1.26% and 1.73% higher on Thrusday. Nifty midcap100 and smallcap100 indices were 1.57& and 1.61% higher at market close. On the 30-share Sensex, Bajaj Finance, Bajaj Finserv, SBI, and 17 other stocks close din green, while Bajaj Auto, Maruti, HCL Tech, and four other stocks closed in red.

Sensex at close
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Sensex at close
10 Jun 2021, 03:20:29 PM IST

A $43 bn jump in Gautam Adani’s fortune is fraught with many risks

A rally in the stocks of companies controlled by Indian billionaire Gautam Adani has added almost $43 billion to his wealth this year, catapulting him to the spot of the second-richest person in Asia. Some analysts say the gains are fraught with risk. Adani’s net worth of $76.7 billion got a boost from a 330% jump in Adani Total Gas Ltd., a 235% rise in his conglomerate’s flagship Adani Enterprises Ltd. and a 263% increase in Adani Transmission Ltd. this year. Adani group stocks, especially these three, “look extended," Bloomberg Intelligence analysts Gaurav Patankar and Nitin Chanduka wrote in a 10 June note after analyzing technical indicators.

10 Jun 2021, 03:09:06 PM IST

Crude oil futures rise on spot demand

Crude oil prices rose 17 to 5,107 per barrel on Thursday, as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for the June delivery traded higher by 17, or 0.33 per cent, at 5,107 per barrel in 9,306 lots.

Analysts said raising of bets by participants kept crude oil prices higher in the futures trade.

10 Jun 2021, 03:03:05 PM IST

Narendra Solanki, head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers on market performance

“Indian markets started on a positive note following positive Asian market cues as traders ahead of U.S. inflation data release. During the afternoon session markets maintained their upward momentum with gains in Energy, Healthcare and Realty stocks. Healthy buying was observed in blue-chip stocks like Bajaj Finance, Reliance Industries and Tech Mahindra. Sentiments were upbeat as Finance Ministry said it has released third monthly instalment of revenue deficit grant of 9,871 crore to 17 states. With the release of this instalment, total 29,613 crore has been released in the first three months of the current financial year as Post Devolution Revenue Deficit (PDRD) Grant to states."

10 Jun 2021, 02:51:18 PM IST

Tata Power unit Coastal Gujarat Power issues NCDs worth ₹570 cr

Tata Power unit Coastal Gujarat Power Ltd has issued and allotted unsecured, rated, listed, taxable, guaranteed, redeemable non-convertible debentures (NCDs) worth 570 crore on a private placement basis for a tenor of three

years.

10 Jun 2021, 02:39:19 PM IST

Bajaj Auto, Eicher Motors drag

Nifty top losers
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Nifty top losers
10 Jun 2021, 02:27:41 PM IST

Sebi's order to not impact existing schemes, says Franklin Templeton

Allaying investors' fears, Franklin Templeton AMC has said Sebi's order prohibiting the company from launching new debt funds will have no bearing on existing schemes managed by it.

Sebi on Monday barred Franklin Templeton Asset Management (India) from launching any new debt scheme for two years and imposed a penalty of 5 crore for violating regulatory norms in the case of winding up of six debt schemes in 2020.

Also, it has been asked to refund investment management and advisory fees of over 512 crore (including interest) collected with respect to the six debt schemes. This amount will be used to repay unitholders, as per Sebi order.

10 Jun 2021, 02:14:03 PM IST

Reliance says FCCU unit at Jamnagar refinery shut, exports may be delayed

Reliance Industries on Wednesday said that a secondary unit at its export-focussed refinery in the western state of Gujarat has been shut since June 6, which may delay the shipment of some product cargoes.

''The Fluidized Catalytic Cracker Unit (FCCU) in our SEZ refinery at Jamnagar had to be taken for an emergency shutdown on 6th June 2021. All other units at the Jamnagar Refining complex are operating normally,'' the company said.

10 Jun 2021, 02:09:44 PM IST

Digital transactions total ₹131 tn in Q1: report

Digital transactions in the country during January to March stood at 93.7 crore in volume terms and 131 trillion in value terms, Worldline India said on Thursday. The total number of debit cards at the end of Q1 CY21 totalled 89.8 crore while credit cards numbered 6.2 crore. The point-of-sale terminals were 47.2 lakh. The volume of debit card transactions was 110 crore while the value stood at 1.91 trillion. On the other hand, the volume of credit card transactions stood at 52.4 crore and their value stood at 1.97 trillion.

Mobile based payments volume totalled 832 crore with value of 31.9 trillion. Of these, transactions of mobile wallets totalled 113 crore with value of 41,175 crore.

10 Jun 2021, 01:59:43 PM IST

GST Council to meet on Jun 12 to discuss tax cut on covid essentials, black fungus medicine

The all-powerful GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on June 12 to decide on GST rate cut for COVID essentials and black fungus medicine, according to officials. In the previous meeting on May 28, the Council, which has state ministers as members, a Group of Ministers (GoM) was set up to recommend tax relief on COVID essentials, including PPE kits, masks and vaccines, to the GST council. The GoM submitted its report on June 7. Officials said the GST Council would be meeting on June 12, to discuss the GoM report as well as consider tax rate cuts for black fungus medicine. Some state Finance Ministers in the GoM are understood to have pitched for a rate cut on COVID essentials.

10 Jun 2021, 01:53:20 PM IST

Auto sector drags

Nifty sectoral indices
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Nifty sectoral indices
10 Jun 2021, 01:38:06 PM IST

Sensex heatmap

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10 Jun 2021, 01:20:22 PM IST

India’s wind power sector wants rival solar to help drive growth

India’s struggling wind power industry is looking to its clean energy rival for help emerging from a pandemic-induced slump.

About half of the 20 gigawatts of wind power the nation is expected to add through 2025 will come in the form of hybrid projects that combine turbines with solar panels, according to a new report by the Global Wind Energy Council and MEC Intelligence. An existing pipeline of about 10.3 gigawatts of projects will make up the rest.

The outlook is brighter than the recent past, which saw the nation install less than 4 gigawatts of wind power in 2019 and 2020 combined. India’s wind industry, which has about 40 gigawatts of capacity now, has been struggling for the past few years due to land challenges, which hindered projects as well transmission lines.

10 Jun 2021, 01:04:40 PM IST

Sansera Engineering files DRHP for IPO

Bengaluru-based auto-component maker Sansera Engineering Ltd has filed a draft red herring prospectus with Securities and Exchange Board of India to raise funds via initial public offering (IPO).

The IPO consists of a pure offer for sale of 17.24 million shares by its existing shareholders and promoters. (Read here)

10 Jun 2021, 12:45:55 PM IST

Tata takes on Reliance in online pharmacy battle with 1MG acquisition: 10 points

Tata Digital, a unit of Tata Sons, on Thursday said it will acquire a majority stake in online healthcare marketplace ‘1MG’. The company has been on an aggressive acquisition spree as it recently made investments in online grocer BigBasket and fitness start-up CureFit.

1MG is a digital consumer healthcare platform which lets health-related products delivered at home along with lab tests and online doctor consultation. (Read here)

10 Jun 2021, 12:29:09 PM IST

UK watchdog plans probe into Amazon’s data usage: FT

The UK’s competition regulator is planning a formal investigation into Amazon.com Inc., the Financial Times reported, citing three people with knowledge of the matter. The Competition and Markets Authority has been analyzing Amazon’s business for months, according to the newspaper. While the timing and scope of any investigation were still being worked on, the probe may focus on whether Amazon favors merchants that use its logistics and delivery services, the report said.

The move by the UK watchdog follows an ongoing investigation in Amazon in the European Union and also comes after EU and UK authorities announced probes into alleged anti-competitive behavior at Facebook Inc.

10 Jun 2021, 12:20:04 PM IST

Indiabulls Real Estate gains

Nifty realty index
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Nifty realty index
10 Jun 2021, 12:05:52 PM IST

Wipro IT Services approves issuance of up to $750 mn dollar denominated notes

IT services major Wipro on Thursday said its step-down subsidiary, Wipro IT Services, has approved a proposal for issuing US dollar denominated notes of up to $750 million. The net proceeds of the notes, which are proposed to be listed on the Singapore Stock Exchange, are intended to be utilised for refinancing existing debt and general corporate purposes, a regulatory filing said. (PTI)

10 Jun 2021, 12:01:14 PM IST

India's cumulative vaccination coverage crosses 24-crore mark

The cumulative number of covid-19 vaccine doses administered under the nationwide vaccination drive has exceeded 24 crores, the Ministry of Health and Family Welfare informed on Thursday.

According to an official release, 33,79,261 vaccine doses were administered in the last 24 hours. "A total of 24,27,26,693 vaccine doses have been administered through 33,82,775 sessions, as per the provisional report till 7 am today," the ministry said.

10 Jun 2021, 11:56:30 AM IST

Auto retail sales drop 55% in May: Fada

Automobile retail sales in the country declined by 55% in May as compared to April this year as lockdowns across various states amid second wave of the coronavirus pandemic hit vehicle registrations, automobile dealers' body Fada said on Thursday. All the segments were hit last month as showrooms across various states were forced to down shutters amid the pandemic led restrictions. Total registrations across categories in May dropped to 5,35,855 units as compared to 11,85,374 units in April this year. According to the Federation of Automobile Dealers Associations (Fada), which collected vehicle registration data from 1,294 out of the 1,497 regional transport offices (RTOs), passenger vehicle (PV) sales declined by 59% in May as compared with 2,08,883 units in April this year. (PTI)

10 Jun 2021, 11:49:51 AM IST

Tata Digital has announced it will buy a majority stake in 1mg

10 Jun 2021, 11:43:14 AM IST

Top gainers at this hour

BSE top gainers
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BSE top gainers
10 Jun 2021, 11:33:38 AM IST

GAIL shares gain over 2 pc after Q4 earnings

Shares of GAIL (India) Ltd on Thursday gained over 2 per cent after the company reported a 28 per cent jump in March quarter net profit.

The stock rose by 2.37 per cent to 166.05 on the BSE.

At the NSE, it jumped 2.21 per cent to 166.

State-owned gas utility GAIL (India) Ltd on Wednesday reported a 28 per cent jump in March quarter net profit as petrochemical margins soared and gas marketing business turned around on rise in international prices.

10 Jun 2021, 11:21:22 AM IST

Nifty top gainers

Nifty top gainers
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Nifty top gainers
10 Jun 2021, 11:08:08 AM IST

Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments on Nifty's trajectory

"After facing some resistance yesterday, the index is trading above the 15,600 level this morning which is a positive sign. This zone is a good support area for the Nifty and if we can trade above this patch, we will continue to be in bullish territory. A bounce from here can take the index to 15,900-16,000 levels."

10 Jun 2021, 10:52:42 AM IST

Oil extends drop with rising US fuel stockpiles denting rally

Oil extended declines as rising U.S. fuel stockpiles punctured the optimism on demand that drove crude to the highest since 2018 this week.

Futures in New York fell 0.7% after slipping back below $70 a barrel Wednesday. American gasoline inventories increased the most since April 2020 last week as refiners eager to boost output to meet an expected surge in consumption over summer left the country awash with fuel. A rolling average of demand ticked lower for the first time in a month, adding to the bearish sentiment.

10 Jun 2021, 10:39:01 AM IST

Rupee opens on flat note, slips 1 paisa to 72.98 against US dollar in early trade

10 Jun 2021, 10:31:20 AM IST

Metal gains

Nifty metal index
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Nifty metal index
10 Jun 2021, 10:19:03 AM IST

Covid update: New deaths go above 6,100 after states revise data, less than 1 lakh cases for third day

New Covid-19 cases saw a slight increase for the second day on Thursday with 94,052 more people testing positive, according to data by the Union health ministry. The number stood at 92,596 the previous day. With the addition of new infections, the cumulative tally has reached 2,91,83,121. (Read here)

10 Jun 2021, 10:11:59 AM IST

Divis Lab, Biocon drive gains

Nifty pharma index
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Nifty pharma index
10 Jun 2021, 09:57:44 AM IST

JSW's crude steel production rises 10% YoY in May

JSW Steel says crude steel production in May 2021 was up 10% to 13.67 lakh tonnes from 12.48 lakh tonnes a year ago. The average capacity utilisation was 91% as liquid oxygen supplies for medical purposes increased to 30,000 tonnes in May from 20,000 in April.

10 Jun 2021, 09:52:12 AM IST

RIL, Bajaj Finance drive gains

Index contribution
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Index contribution
10 Jun 2021, 09:38:46 AM IST

Gold subdued

Gold prices were on the back foot on Thursday as the dollar ticked higher but traded in a narrow range as investors turned cautious ahead of the European Central Bank meeting and US inflation data later in the day.Spot gold was down 0.1% at $1,886.66 per ounce, as of 03:05 GMT. US gold futures fell 0.4% to $1,888.50 per ounce.

10 Jun 2021, 09:23:10 AM IST

Market opening

Benchmark Indian indices opened 0.36% higher on Thursday. The Sensex opened at 52,143.90, up 202.26 points, or 0.39%, while the Nifty was at 15,692.10, up 56.75 points, or 0.36%. On the 30-share Sensex, all stocks were in green at market opening.

Sensex at open
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Sensex at open
10 Jun 2021, 09:04:43 AM IST

Market pre-opening

Sensex pre-open
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Sensex pre-open
10 Jun 2021, 08:54:52 AM IST

Adani Welspun Exploration completes appraisal of gas well in Tapti-Daman Sector

Adani Welspun Exploration Ltd has completed appraisal cum development of Tapti Daman sector of Mumbai offshore. The B-9 field is adjacent to the block dclared on 15 May, the company said in a regulatory filing. AWEL plans to work on its field development plan as a cluster which

should improve the commercial viability of both the blocks.

10 Jun 2021, 08:41:42 AM IST

Promote R&D-led telecom manufacturing ecosystem instead of just assembly: DoT official

There is a need to promote research and development led telecom equipment manufacturing instead of just assembly-based production, a senior official of the Department of Telecom said on Wednesday. DoT Member (Technology) T K Paul said as per a WTO report on global supply chain, India's contribution is only 0.15% in telecom equipment and 0.068% for integrated circuits and components. This calls for design-driven manufacturing for 'Aatmabnirbharta' (self-reliance) in the telecom sector, he noted. (PTI)

10 Jun 2021, 08:32:17 AM IST

GST Council meeting on Jun 12: report

GST Council may meet in June 12, CNBCTV18 reported, citing people familiar with the matter.

10 Jun 2021, 08:21:57 AM IST

Open to IPO for Flipkart but no specific timeline: Walmart

US retail giant Walmart has said it is "open to an IPO" for its Indian e-commerce arm Flipkart but there is "no specific timeline" for the share sale.

Both Flipkart and payment app PhonePe continue to do well, Walmart International President and CEO Judith McKenna said while speaking at the DB Access Global Consumer Conference on June 7. (Read here)

10 Jun 2021, 08:06:27 AM IST

Market outlook

Markets are likely to consolidate further on Thursday while trends in SGX Nifty suggest a positive opening. On Wednesday the BSE Sensex ended at 51,941.64, down 333.93 points or 0.64%. The Nifty closed at 15,635.35, down 104.75 points or 0.67%. (Read here)

10 Jun 2021, 07:54:45 AM IST

Green bitcoin: El Salvador to mine crypto using geothermal energy from volcano

Hours after passing a resolution that made it the first country in the world to recognize bitcoin as a legal tender, Latin American nation El Salvador has said that it will mine the cryptocurrency using geothermal energy from its volcanoes. In a tweet, president Nayib Bukele, said: “I’ve just instructed the president of @LaGeoSV (our state-owned geothermal electric company), to put up a plan to offer facilities for bitcoin mining with very cheap, 100% clean, 100% renewable, 0 emissions energy from our volcanos."

El Salvador, in a historic move on Wednesday, became the first country in the world to officially adopt bitcoin as the legal tender. The nation’s Congress approved President Nayib Bukele's proposal to embrace the cryptocurrency with 62 out of 84 possible votes. (Read here)

10 Jun 2021, 07:40:42 AM IST

Asian stocks rise

Asian stocks rose Thursday after Treasuries rallied ahead of a U.S. inflation report that may provide clues on the monetary policy outlook. U.S.-China talks bolstered the offshore yuan. Japanese, Australian and Hong Kong shares advanced along with U.S. equity contracts. The S&P 500 again flirted with a record before slipping, continuing a pattern of range-bound trading also evident at a global level.

S&P 500 futures added 0.1% as of 10:35 a.m. in Tokyo. The index fell 0.2%

Nasdaq 100 futures increased 0.1%. The index was little changed

Japan’s Topix index added 0.2%

Australia’s S&P/ASX 200 Index climbed 0.4%

South Korea’s Kospi index rose 0.5%

Hang Seng Index rose 0.4%

Shanghai Composite Index gained 0.2%

SGX Nifty was up 0.27%

10 Jun 2021, 07:30:34 AM IST

Wall Street rangebound

Wall Street ended a see-saw session lower as market participants awaited inflation data for clues as to when the US Federal Reserve might tighten its dovish monetary policy.

The retail "meme stock" craze continued unabated. All three major U.S. stock indexes reversed earlier gains, but remained range-bound in the absence of any clear market catalysts. The Dow Jones Industrial Average fell 152.68 points, or 0.44%, to 34,447.14; the S&P 500 lost 7.71 points, or 0.18%, at 4,219.55; and the Nasdaq Composite dropped 13.16 points, or 0.09%, to 13,911.75.

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