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Business News/ Markets / Live Blog/  Sensex jumps 934 pts, Nifty ends above 15,600; Titan, SBI soar, IT, metals shine

Sensex jumps 934 pts, Nifty ends above 15,600; Titan, SBI soar, IT, metals shine

Market Closing: Selloff paused on the D-Street as Indian indices registered sharp gains on Tuesday, led by surge in IT, bank, and metal stocks. The indices recorded gains for the second straight day. However, analysts expect the bounce back to be short-lived.

Market Closing: Indian indices on Tuesday extended winning run as the indices ended around 1.8% higher amid positive global cues.Premium
Market Closing: Indian indices on Tuesday extended winning run as the indices ended around 1.8% higher amid positive global cues.

Sharp gains in metal and technology stocks helped India's blue-chip indexes register their best session in over three weeks on Tuesday, primarily due to due to value buying after a persistent sharp fall earlier this month. Global stocks rebounded on Tuesday as Wall Street futures moved higher after a US market holiday. Shares rose in Japan, South Korea, Australia, and Hong Kong, while it fell in Shanghai.

21 Jun 2022, 03:58:42 PM IST

Sensex jumps 934 pts, Nifty ends above 15,600; IT, bank, metal, oil & gas stocks shine

Indian indices on Tuesday closed higher led by market heavyweights Titan, SBI, and TCS even as investors grappled with inflation and rate hike worries.

The Sensex gained 934.23 points, or 1.81%, to close at 52,532.07, while Nifty50 added 288.65 points to end at 15,638.80. Sectorally, all the sectors ended in the green with energy and metal stocks rising the most.

On the 30-stock index, the most gains were made by Titan, SBI, and TCS, among others, while Nestle India was the only stock to end in the red.

On the Nifty50 index, Titan, Coal India, and Hindalco were the top gainers, while Nestle India and Apollo Hospitals declined marginally. 

Sensex at close
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Sensex at close
21 Jun 2022, 03:19:05 PM IST

Fallen 45% from 52-week-high, this pharma stock fixes record date for dividend

Piramal Enterprises Ltd is a large-cap pharmaceutical company with a market capitalization of 39,185 crore. The corporation is a multinational behemoth with broad interests in Pharma, Financial Services, and Real Estate, with operations in over 30 countries and a strong brand image in over 100 global markets.

21 Jun 2022, 03:10:08 PM IST

Zerodha, Upstox resumes service after Cloudflare issue

After facing Cloudflare issue on their respective platforms, online brokerage firms Zerodha and Upstox informed that the connectivity issues has been resolved.

21 Jun 2022, 03:04:07 PM IST

Indian investors lose ₹1,000 crore in fake crypto exchanges: Report

Crypto scammers are using a wide range of techniques, including identity scams and phishing, to lure users into investing through fake crypto exchanges. Investors in India have lost as much as 1,000 crore in such scams that have spread through social media portals, according to a report by Indian cyber security firm, CloudSEK.

21 Jun 2022, 03:01:04 PM IST

Dolly Khanna portfolio: Ex-dividend stock rebounds 9% today. Do you own?

Dolly Khanna portfolio: Deepak Spinners shares are one of the bear-ridden Dolly Khanna shares. This BSE-listed stock has fallen 11 per cent in last one month whereas it has tumbled more than 21 per cent in 2022. However, Deepak Spinners share price today bounced back strongly and surged more than 9 per cent as the company gears for finalisation of eligible shareholders for payment of 25 per cent dividend on 22nd June 2022. This Dolly Khanna-backed company has announced a dividend of 2.50 per equity share for FY22. The Dolly Khanna share today opened with an upside gap of near 4.50 per share on BSE and went on to hit intraday high of 219 per equity share.

21 Jun 2022, 02:55:54 PM IST

BSE bank stocks rise over 2%; Bank of Baroda surges 6%, SBI up 4%

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21 Jun 2022, 02:49:27 PM IST

BSE IT index surges close to 3%; Ramco Systems rises 16%

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21 Jun 2022, 02:45:26 PM IST

Oil prices climb on supply and demand fundamentals

Oil prices rose on Tuesday on high summer fuel demand while supplies remain tight because of sanctions on Russian oil after its invasion of Ukraine.

Brent crude rose $1.61, or 1.4%, to $115.74 a barrel by 0825 GMT.

U.S. West Texas Intermediate (WTI) crude for July, which expires later on Tuesday, rose $2.29, or 2.1%, to $111.85. The more-active WTI contract for August was up $2.48 at $110.47 a barrel.

21 Jun 2022, 02:31:43 PM IST

BSE oil & gas stocks zoom over 5%; Adani Total Gas surges over 15%

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21 Jun 2022, 02:24:46 PM IST

This Indian Railways stock may rally over 45% as brokerage sees upside

Rail Vikas Nigam (RVNL) hosted call with investors and analysts for business update. Weak order inflow has been a key concern for RVNL. For this, company highlighted, it has bided for orders of 210 bn. And out of opened tenders of 60 bn, it has won orders of 20 bn till date, highlighted brokerage IDBI Capital in a note.

21 Jun 2022, 02:02:07 PM IST

Rakesh Jhunjhunwala share turns ex-dividend stock today. Scrip surges 3%

Rakesh Jhunjhunwala portfolio: Dividend paying stock Indian Hotels share price has surged ahead of the cut-off date for payment of 40 per cent dividend for FY22. Indian Hotels share price today opened with an upside gap and went on to hit an intraday high of 222.75 apiece levels on NSE, logging near 3 per cent surge from its yesterday's close of 215.10 per share levels. Board of directors of the Rakesh Jhunjhunwala-backed company has announced a dividend of 0.40 per equity share for eligible shareholders and record date for payment of dividend has been fixed on 22nd June 2022.

21 Jun 2022, 01:53:04 PM IST

This Hinduja group stock recommends a final dividend of 150%

Gulf Oil Corporation Ltd (GOCL) is a chemical-focused small-cap company with a market capitalization of 1,137 crore. GOCL is engaged with profitable operations in real estate, land development, infrastructure contracts, commercial explosives, detonators, mining chemicals and accessories. Gulf Oil Corporation Ltd (GOCL), which is owned by the Hinduja Group, has three divisions: explosives, mining products & services, real estate, and infrastructure, and Hinduja Power Ltd has kept its 68.64 per cent stake in the Hinduja Group marketed company, GOCL Corporation Ltd., formerly Gulf Oil Corporation Ltd.

21 Jun 2022, 01:45:47 PM IST

India ranks 4th in global gold recycling; recycled 75 tonnes in 2021: WGC

India has emerged as the fourth largest recycler in the world and the country has recycled 75 tonnes in 2021, according to a World Gold Council (WGC) report.

According to the WGC report titled 'Gold refining and recycling', China topped the global gold recycling chart as it recycled 168 tonnes of the yellow metal, followed by Italy in the second position with 80 tonnes and the US at the third rank with 78 tonnes in 2021.

India was ranked fourth in the list as the country recycled 75 tonnes in 2021.

21 Jun 2022, 01:40:17 PM IST

Oil prices climb on market caution over tight supply

Oil prices rose on Tuesday, clawing back more of last week's losses as investors focused on tight supplies of crude and fuel products rather than concerns about a recession dampening demand going forward.

Brent crude futures rose 81 cents, or 0.7%, to $114.94 a barrel at 0703 GMT, adding to a 0.9% gain on Monday. The benchmark contract fell 7.3% last week in its first weekly fall in five.

U.S. West Texas Intermediate (WTI) crude futures for July, which expire later on Tuesday, rose to $111.19 a barrel, up $1.63, or 1.5%, from Friday's close. There was no settlement on Monday, which was a U.S. public holiday. WTI dropped 9.2% last week.

The more-active WTI contract for August was up $1.84 at $109.83 a barrel.

21 Jun 2022, 01:32:42 PM IST

Mutual funds can resume investing in international stocks: Sebi

Capital markets regulator Sebi has permitted mutual funds to again invest in foreign stocks within the aggregate mandated limit of USD 7 billion for the industry.

This came in the wake of a major correction in global markets that brought down the valuation of international stocks.

In January, Sebi had asked mutual fund houses to stop taking fresh subscriptions in schemes investing in overseas stocks. The directive to stop subscription was mainly on account of the mutual fund industry crossing the mandated limit of USD 7 billion for overseas investments.

21 Jun 2022, 01:19:30 PM IST

European equities extend gains at open

Europe's main stock markets advanced further in opening deals on Tuesday, mirroring gains across Asia as some stability returned to markets following last week's turmoil.

London's benchmark FTSE 100 index rose 0.4 percent to 7,148.03 points compared with the closing level on Monday.

In the eurozone, Frankfurt's DAX gained 0.9 percent to 13,381.65 points and the Paris CAC 40 won 1.2 percent to 5,989.52.

The region's equities had also rebounded on Monday despite lingering fears over the economic impact of rising global interest rates.

21 Jun 2022, 01:08:28 PM IST

Nifty50 at 13:08 pm: Trades around 15,650; Titan, JSW Steel lead

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21 Jun 2022, 01:06:26 PM IST

Sensex at 13:05 pm: Surges over 1000 points; all the 3- stocks in the green, Titan rises over 6%

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21 Jun 2022, 01:00:39 PM IST

Jt Drugs Controller arrested in bribery case to clear Biocon Biologics injection

Joint Drugs Controller S Eswara Reddy has been taken into CBI custody for allegedly accepting 4 lakh as a bribe to waive off the third phase of clinical trials of Insulin Aspart injection, a product of Biocon Biologics, under development to manage Type 1 and Type 2 diabetes.

21 Jun 2022, 12:58:54 PM IST

Copper falls on slowdown fears, China's Covid woes

Copper prices slipped on Tuesday, as aggressive rate hikes impacting global growth and a spike in Covid-19 cases in top consumer China raised demand concerns, although an expected strike in top producer Chile offered some support. Three-month copper on the London Metal Exchange was down 0.7% at $8,917 a tonne by 0705 GMT, after falling to its lowest since Sept. 21 at $8,830 on Monday. The most-traded July copper contract in Shanghai ended daytime trading 0.9% lower to 68,030 yuan ($10,158.89) a tonne.

21 Jun 2022, 12:57:41 PM IST

Tokyo stocks close higher

Tokyo shares closed higher Tuesday, rebounding sharply after investors were cheered in part by a surge in US stock futures.

The benchmark Nikkei 225 index rose 1.84 percent, or 475.09 points, to end at 26,246.31 while the broader Topix index added 2.05 percent, or 37.26 points, at 1,856.20.

21 Jun 2022, 12:49:34 PM IST

S.Korean shares rebound from 19-month low on institutional boost

South Korean shares rebounded on Tuesday to close higher, mostly led by institutional investors' dip-buying after a steep drop to a 19-month low in the previous session. The Korean won weakened slightly, while the benchmark bond yield inched down.

The benchmark KOSPI ended up 17.90 points, or 0.75%, at 2,408.93, after touching its lowest since early-November 2020 on Monday.

21 Jun 2022, 12:28:36 PM IST

GE Steam Power inks $165 mn pact to supply 3 nuclear steam turbines to BHEL

GE Steam Power on Tuesday said it has inked a $165 million pact with state-run engineering firm BHEL to supply three nuclear steam turbines out of six units for NPCIL's domestic nuclear programme - phase 1 being developed at Gorakhpur, Haryana (units - 1 to 4 (GHAVP)) and Kaiga (Kaiga-5&6) Karnataka, a company statement said.

The programme includes 12 units of 700 MWe being developed by NPCIL with their own nuclear reactor technology i.e., Pressurized Heavy Water Reactors (PHWR). In total, it will represent 8.4GW of CO2-free electricity for the country, enough to power more than 14 million homes, it said.

21 Jun 2022, 12:18:18 PM IST

Bitcoin holds above $20,000 after week of forced crypto selling: Bloomberg 

Cryptocurrencies showed tentative signs of recovering from last week’s rout as Bitcoin held above $20,000.

Bitcoin rose as much as 1.6% on Tuesday in Asia and was trading at $20,665 in Asian deals. The MVIS Cryptocompare Digital Assets 100 index climbed 1.5%. So-called altcoins like Solana and Polkadot were among gainers.

21 Jun 2022, 12:08:15 PM IST

Hindustan Petroleum Corp. issues debentures worth of ₹1,500 crore: BSE filing 

21 Jun 2022, 11:51:52 AM IST

Dhanuka Agritech - Rating: BUY | CMP: Rs672 | TP: Rs870: Himanshu Binani - Research Analyst at Prabhudas Lilladher

Management Meet Update - 1Q likely to be subdued; all hopes pinned on the monsoons

Quick Pointers:

1QFY23 revenue growth likely to be subdued (low double digit growth).

Monsoons on the lower side; impacting ground activities till date.

We interacted with senior management of Dhanuka Agritech (Dhanuka) to take an update on the business and outlook, going forward. Key highlights are (a) Delayed start of monsoons have kept ground sentiments lower; (b) weak rainfall in first 20 days (down 8% YoY on a PAN India basis); however major deficiency witnessed in key agricultural belts of central, western and Southern India; (c) 1QFY23 revenue growth for industry likely to be subdued (low double digit growth on a lower base of last year); (d) have taken price hikes of 3-4% across portfolio to pass on inflated cost; (e) RM prices remained stable, led by lower demand in domestic market; (f) Green-field project in Dahej remains well on track. Dhanuka sounded cautious on its 1Q performance, led by erratic monsoons. We believe that next few weeks would be crucial for the industry in terms of 1HFY23 performance (contributing ~60% of the annual revenues). However, pick-up in rainfall and sowing activities coupled with remunerative crop prices and lower base impact should bode well for the kharif season. 

We largely keep our estimates unchanged and would be watchful on how monsoons pan out over the next few weeks. Maintain ‘BUY’ with TP of INR870 based on 15xFY24E EPS. (5-year high/low 41x/7x, average 21x).

21 Jun 2022, 11:40:39 AM IST

PSU Bank index surges over 2%

Nifty PSU Bank index 
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Nifty PSU Bank index 
21 Jun 2022, 11:13:44 AM IST

Akasa Air takes delivery of first aircraft Boeing 737 MAX

Rakesh Jhunjhunwala-backed Akasa Air's first aircraft Boeing 737 MAX arrived in New Delhi on Tuesday, bringing it closer to securing mandatory Air Operator Permit to start operations.

The airline had received the ceremonial keys for the aircraft in Seattle, the US, on 15 June, the airline said in a statement.

This is the first delivery of the 72 Boeing 737 Max planes that Akasa Air placed an order with Boeing last November.

21 Jun 2022, 10:57:57 AM IST

India's Tata Steel bought 75,000 tonnes of Russian coal in May: Reuters 

India's top steelmaker Tata Steel imported about 75,000 tonnes of coal from Russia in the second half of May, two trade sources and one government source said, weeks after pledging to stop doing business with Russia.

A spokesman for Tata Steel said the deal to import coal from Russia was made before the company's announcement to cut business ties with Russia, without providing further details. (Read here)

21 Jun 2022, 10:54:39 AM IST

India logs 9,923 fresh COVID-19 cases

India's COVID-19 tally climbed to 4,33,19,396 on Tuesday with 9,923 fresh infections reported in the last 24 hours, pushing up active cases to 79,313, according to Union health ministry data.

Death toll climbed to 5,24,890 with 17 new fatalities.

21 Jun 2022, 10:27:06 AM IST

Suven Life Sciences soars

The board of the pharmaceutical company will meet on 24 June to consider raising of funds via a rights issue of shares.

21 Jun 2022, 10:16:39 AM IST

Oil rises on market caution over tight supply

Oil prices rose 1% on Tuesday, clawing back more of last week's losses as investors focused on tight supplies of crude and fuel products rather than concerns about a recession dampening demand going forward.

Brent crude futures rose $1.08, or about 1%, to $115.21 a barrel, adding to a 0.9% gain on Monday. The benchmark contract fell 7.3% last week in its first weekly fall in five.

U.S. West Texas Intermediate (WTI) crude futures for July, which expires later on Tuesday, rose to $112.01 a barrel, up $2.45, or 2.2%, from Friday's close. There was no settlement on Monday, which was a U.S. public holiday. WTI dropped 9.2% last week.

21 Jun 2022, 09:58:35 AM IST

Rupee inches 6 paise lower at 78.04 against US dollar: PTI

The rupee inched lower by 6 paise to 78.04 against the US dollar in early trade on Tuesday, as persistent foreign fund outflows and strong dollar demand globally weighed on investor sentiments.

At the interbank foreign exchange, the rupee opened at 78 against the US dollar, then lost further ground to quote at 78.04, registering a fall of 6 paise over the last close.

On Monday, the rupee appreciated 7 paise to settle at 77.98.

21 Jun 2022, 09:46:21 AM IST

Top gainers/losers on Sensex at this hour 

Sensex stocks 
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Sensex stocks 
21 Jun 2022, 09:44:18 AM IST

RIL worst hit among Sensex stocks 

Capital markets regulator Sebi on Monday imposed a penalty totalling 30 lakh on Reliance Industries and two of its compliance officers for violating fair disclosure norms during Facebook's 43,574 crore investment in Jio Platforms in 2020.

21 Jun 2022, 09:26:22 AM IST

Nifty rises above 15,400 in opening deals 

Nifty at open
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Nifty at open
21 Jun 2022, 09:17:57 AM IST

Sensex rises at open, back above 52,000

Sensex check
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Sensex check
21 Jun 2022, 09:05:01 AM IST

Nifty rises above 15,300 in pre-open 

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21 Jun 2022, 09:04:19 AM IST

Sensex rises more than 150 points in pre-open 

Sensex check
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Sensex check
21 Jun 2022, 08:59:27 AM IST

Yes Bank close to raising up to $1 billion from Carlyle, Advent

Yes Bank is in advanced stages of negotiations to close a $1 billion equity fundraise from private equity firms Carlyle and Advent International, two people aware of the development said. (Read here)

21 Jun 2022, 08:49:41 AM IST

Market view: Osho Krishan, Sr. Analyst - Technical & Derivative Research, Angel One

Technically, the index has snapped the six days of the selling spree with positive closure, and any follow-up buying could demonstrate an encouraging sign for the bulls for the coming sessions. On technical parameters, the 15180-15200 odd zone has played the sheet anchor role for the past two consecutive sessions, and sustenance above the same could be a positive sign for the market participants. 

On the contrary, 15500 is to be looked at as an immediate hurdle, followed by the 15650-15700 zone that holds the sturdy wall for the bulls of the D-Street.

Looking at the tentativeness among the participants, the index is likely to stay within the mentioned range until any decisive breakthrough on either of the sides is not seen. Hence, we advocate avoiding any aggressive bets and to continue with a stock-specific approach, focusing on potential bounce-back candidates.

21 Jun 2022, 08:33:23 AM IST

Life insurers may get to sell health covers

India’s insurance regulator is planning to allow life insurance companies to offer full-fledged health insurance policies, two people with direct knowledge of the plans said, in a move that will likely reduce premiums and increase access to affordable health cover. (Read here)

21 Jun 2022, 08:22:07 AM IST

Stocks to Watch

Shares of RIL, ONGC, Yes Bank, LIC, Tata Steel, ICICI Pru Life, among others, will be in focus on Tuesday.

21 Jun 2022, 08:03:34 AM IST

SGX Nifty gains in early deals 

Nifty futures on the Singapore Exchange rose 41 points, or 0.3%, to 15,403 in early deals on Tuesday, signalling a positive start for Indian indices.

Indian indices on Monday closed higher led by heavyweights HUL, HDFC, and HDFC Bank amid inflation worries across the globe.

The Sensex gained 237.42 points to close at 51,597.84, while the broader Nifty50 added 56.65 points to end at 15,350.15. 

21 Jun 2022, 07:35:13 AM IST

Asian stocks, US equity notch up gains 

Stocks climbed in Asia on Tuesday, US equity futures pointed higher and Treasuries retreated amid steadier investor sentiment compared with last week’s rout in global shares.

Japanese shares led gains, while Hong Kong and China were more subdued as traders assessed the possible impact of Covid outbreaks in Shenzhen and Macau.

Investors continue to monitor China’s Covid flareups and its efforts to shore up economic growth. The yen remains around a 24-year low against the dollar, sapped by the contrast between a super-dovish Bank of Japan and hawkish Fed.

In commodities, oil gained, while prices for metals like copper are being buffeted by concerns about the demand outlook amid weakening global growth.

Earlier, European Central Bank President Christine Lagarde restated officials’ intention to raise interest rates in July and September, signalling that concerns over financial-market tensions aren’t derailing the fight against inflation.

Wall Street, shut on Monday for a US public holiday, had risen on Friday, though the broad-based S&P 500 lost 5.8% for the week, its worst performance since 2020.

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