June F&O expiry: Sensex ends flat, Nifty closes at 10,288

ITC, Asian Paints top gainers; Nifty Media and IT ended in red

3.40 pm

Closing bell:

The benchmark indices closed today's volatile session on a negative note. The Nifty finished the June F&O session at 10,288.90, down 16.40 points or 0.16 per cent.

The BSE Sensex ended at 34,842.10, down 26.88 points or 0.08 per cent.

Asian Paints, ITC, Eicher Motor were the top gainers. While, ICICI Bank, IndusInd Bank and Powergrid were top laggards.

Nifty FMCG and Pharma ended in green zone, while IT and Media closed in red.

 

3.20 pm

Stock update:

Shares of GIC Re zoomed over 8 per cent after the company reported near doubling of its net income to ₹1,197.4 crore for the March quarter.

The stock jumped 8.51 per cent to ₹165.75 on the BSE.

On the NSE, it surged 8.27 per cent to ₹165.45.

 

3.05 pm

IndiGo ‘reasonably pleased’ with progress of domestic flying with fare caps: Chief Commercial Officer

IndiGo is “resonably pleased” with the progress it has made so far in domestic flying, with the fares being capped at the upper and lower level, ...

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2.50 pm

BSE Sensex update:

 

2.30 pm

IMF scales down growth projection, says Indian economy will contract by 4.5% in 2020

Expects a bounce-back in 2021, still lowers forecast

Read More  

2.15 pm

Covid update: Hyderabad-based Hetero Labs has set the price of its basic version of remdesivir, Gilead's experimental Covid-19 drug, at Rs.5,400 ($71) per 100-milligram vial.

The company is now prepared to supply the drug to hospitals across India, Reuters reported. Hetero Labs said it would supply 20,000 vials of the drug.

The pricing announcement comes after its contemporary, Cipla Ltd, said it had priced its version of remdesivir below Rs 5,000.

2.00 pm

SoftBank’s Masayoshi Son and Alibaba’s Jack Ma part ways

Alibaba remains Son’s most successful investment by far and SoftBank’s most valuable asset

Read More  

1.45 pm

News update:

South-based lender Federal Bank will be paying over Rs 80 crore to buy additional four per cent stake in its life insurance joint venture IDBI Federal Life Insurance, a top official has said.

The stake buy from the state-run IDBI Bank will take Federal Bank’s stake in the 12-year-old company to 30 per cent, the maximum permissible level for a lender under the regulations, its Managing Director and Chief Executive Shyam Srinivasan said. READ MORE.

1.30 pm

Nifty Call: Sell on rallies with stop-loss at 10,260 levels

Nifty 50 June Futures (10,212)Tracking the weak global cues, the Sensex and Nifty began the session with a gap-down open. The US indices, Dow Jones ...

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1.15 pm

Private banks: RBI to be allowed to frame reconstruction scheme without putting moratorium in public domain

Call this a fallout of the recent YES Bank debacle and its subsequent rescue episode. The Centre has now decided to empower the Reserve Bank of India ...

Read More  

1.00 pm

Ready to start repayment in two debt schemes: Franklin Templeton

Fund house to file fresh plea for lifting stay on e-voting

Read More  

12.45 pm

Stock update:

Shares of Karur Vysya Bank  rallied over 8 per cent after the firm reported 39.5 per cent jump in net profit for the quarter ended March 2020.

The lender’s stock jumped 8.13 per cent to Rs 33.90 on the BSE.

On the NSE, it gained 8.45 per cent to Rs 34.

The bank on Wednesday reported 39.5 per cent jump in net profit at Rs 83.70 crore for the quarter ended March 2020 on higher income from other sources.

 

12.30 pm

Stock update:

Shares of GIC Re zoomed over 8 per cent after the company reported near doubling of its net income to Rs 1,197.4 crore for the March quarter.

The stock jumped 8.51 per cent to Rs 165.75 on the BSE.

On the NSE, it surged 8.27 per cent to Rs 165.45.

State-owned reinsurer GIC Re on Wednesday reported near doubling of its net income to Rs 1,197.4 crore for the March quarter, driven by investment income.

 

12.15 pm

Covid update:

India registered its worst single-day increase in Covid-19 cases on Thursday, recording more than 16,000 coronavirus infections, to push the overall tally to 4.73 lakh as the number of fatalities also jumped by 418, the Union Health Ministry said.

This was the sixth consecutive day when coronavirus cases increased by more than 14,000. On June 20, the country registered an increase of 14,516 cases. On June 21, the increase was of 15,413 cases; 14,821 cases on June 22; 14,933 cases on June 23; and 15,968 cases on June 24.

12.01 pm

Broker's call: IRB Infrastructure (Buy)

CAPITALVIA GLOBAL IRB Infrastructure (Buy)CMP: ₹86.2Target: ₹125IRB Infrastructure Developers is a road build–operate–transfer (BOT) operator. The ...

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11.45 am

Stock update:

Shares of Canara Bank on Thursday fell by nearly 7 per cent after the company reported a standalone net loss of ₹3,259 crore for the quarter ended March.

On the BSE, the stock declined 6.76 per cent to ₹102.05. It plunged 6.84 per cent to ₹102 on the NSE.

11.30 am

Broker's call: Suven Pharmaceuticals (Buy)

ICICI SecuritiesSuven Pharmaceuticals (Buy)CMP: ₹470.6Target: ₹690In accordance with Suven Life Sciences (SLS) management’s endeavour to split its ...

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11.15 am

Rupee call:

Today, the rupee (INR) has begun the session on a flattish note against the dollar (USD). It has opened at 75.75 versus its previous close of 75.72 and thus the local currency has slipped below the support of 75.6.

If the weakness persists, the rupee might depreciate further to 75.8 and 76 – a critical support. A break below 76 can result in a sharp sell-off. On the other hand, if INR gains and rallies above 75.6, it could advance to 75.4, above which it could move to 75.15.

Daily Rupee call: INR likely to appreciate

Today, the rupee (INR) has begun the session on a flattish note against the dollar (USD). It has opened at 75.75 versus its previous close of 75.72 ...

Read More  

11.00 am

Paint stocks turn rosy after Q4 results

But analysts cautions on touching the sticky sector

Read More  

10.45 am

Forex update:

The dollar held firm as an increase in coronavirus cases in the United States (US) undermined hopes for a quick turnaround in the pandemic-hit economy and prompted traders to cuts bets on riskier currencies.

The dollar's index against a basket of currencies strengthened to 97.21.

The euro retreated to $1.1251 while the British pound also stepped back to $1.2423.

Read more here.

10.30 am

IDFC First Bank Fixed Deposit: A good choice in a low-rate environment

At 7-7.25% per annum for tenures over six months, the bank’s rates are among the best in the commercial bank category

Read More  

10.20 am

NSE gainers and losers:

 

10.10 am

Did RIL benefit from SEBI easing rights-issue norm?

They could be unconnected. But the ₹53,000 crore rights offer of Reliance Industries Ltd (RIL) in May was preceded by an innocuous tweak by SEBI to ...

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10.00 am

BSE Sensex Update:

 

9.50 am

Oil prices fall further on virus fears, US crude stock build

Oil prices slipped on Thursday, extending losses of more than 5 per cent in the previous session, weighed down by record high United States (US) ...

Read More  

9.40 am

Global market update:

Asia's stock markets slipped, bonds rose and the United States (US) dollar was firm on Thursday as surging US coronavirus cases, global trade tensions and an International Monetary Fund downgrade to economic projections knocked confidence in a recovery.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7 per cent, Tokyo's Nikkei slumped 1.4 per cent and Australia's ASX 200 tumbled 1.8 per cent. US stock futures also declined 0.7 per cent following on from an overnight slide on Wall Street.

Stocks sell-off as coronavirus surge in US knocks recovery hopes

Asia's stock markets slipped, bonds rose and the United States (US) dollar was firm on Thursday as surging US coronavirus cases, global trade ...

Read More  

9.30 am

Hindustan Unilever (₹2,130.3): Buy

The stock of Hindustan Unilever has turned positive as it has broken out of the resistance at ₹2,140. So, traders looking for near-term opportunities ...

Read More  

9.20 am

Opening bell: Benchmark indices opened today's session on weak note.

The BSE Sensex was at 34,516.24, dropping 352.74 points or 1.01 per cent. The NSE Nifty opened at 10,227.10, 78.20 points or 0.76 per cent.

All the sectoral indices are under pressure, except FMCG.

IndusInd Bank, ICICI Bank and Powergrid are the top losers.

9.10 am

Day trading guide:

₹1032 • HDFC Bank

S1

S2

R1

R2

COMMENT

1025

1010

1055

1070

Fresh long positions can be initiated with a tight stop-loss if the stock reverses higher from ₹1,025 levels

 

₹714 • Infosys

S1

S2

R1

R2

COMMENT

710

700

730

740

Infosys can remain bullish above ₹700; so, buy on dips while maintaining a stiff stop-loss at ₹700

 

₹191 • ITC

S1

S2

R1

R2

COMMENT

188

182

197

203

As the stock bounced off a support, consider initiating fresh long positions on declines with stop-loss at ₹185

 

₹83 • ONGC

S1

S2

R1

R2

COMMENT

80

78

88

91

Though ONGC is bearish, ₹82 is a good support. Hence, go short with tight stop-loss if it breaks below ₹82

 

₹1727 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1705

1685

1735

1750

Fresh long positions are recommended with a tight stop-loss only if the stock jumps above ₹1,735 levels

 

₹184 • SBI

S1

S2

R1

R2

COMMENT

178

175

187

190

Since the stock of SBI displays weakness, initiate fresh short positions on rallies with stop-loss at ₹190

 

₹2042 • TCS

S1

S2

R1

R2

COMMENT

2010

1990

2055

2075

Consider initiating fresh long positions with a fixed stop-loss only if the stock rallies above ₹2,055 levels

 

10299 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10260

10200

10345

10400

Initiate fresh long positions with tight stop-loss if the contract reverses higher from the support at 10,260

 

S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2. 

Published on June 25, 2020