Buzzing Stocks: PNB, Infosys, Mrs Bectors Food and others that will be in focus today
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Nifty IT index added 1 percent supported by the Coforge, Tech Mahindra, Infosys
Shyam Metalics fixes IPO price band at Rs 303-306:
Steel manufacturing company Shyam Metalics and Energy will launch its Rs 909-crore initial public offer (IPO) on June 14. The price band for the issue has been fixed at Rs 303-306 per share.
The public issue comprises a fresh issue of up to Rs 657 crore, and an offer for sale up to Rs 252 crore by promoters, including 3 lakh equity shares reserved for employees. Eligible employees will get shares at a discount of Rs 15 per share to the final offer price. Read More
Crisil revises down India’s GDP growth forecast
Ratings agency CRISIL on June 7 revised its forecast downward for India’s GDP, to grow by 9.5 percent in FY22 from 11 percent projected earlier on the back of lockdown restrictions by states and daily cases which continue to fare above the peak of the first wave.
Gainers and Losers on the BSE Sensex:
Market Opens: Indian indices opened flat on June 8 amid mixed global cues.
At 09:16 IST, the Sensex was up 16.04 points or 0.03% at 52344.55, and the Nifty was up 2.50 points or 0.02% at 15754.20. About 1460 shares have advanced, 328 shares declined, and 67 shares are unchanged.
DAILY VOICE | Vinit Sambre Of DSP Investment Managers Is Positive On Economic Upcycle; Advises To Remain Invested In Equity
Investors should avoid investing in the market with a short term view, say 1 year, due to low margin of safety in the markets due to expensive valuations currently.
Indian markets are likely to open flat to positive on the back of positive global cues on optimism over lockdowns getting lifted and the economy returning to normal. US markets ended mixed amid optimism over economic outlook and concern overs monetary policy outlook.
Market at pre-open: Benchmark indices are trading flat in the pre-opening session amid mixed global cues.
At 09:02 IST, the Sensex was up 42.72 points or 0.08% at 52371.23, and the Nifty was down 9.00 points or 0.06% at 15742.70.
Trade Spotlight: What Should Investors Do With Adani Power, Adani Ports & BHEL?
Here’s what Jatin Gohil of Reliance Securities recommends investors should do with these stocks when the market resumes trading today
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 186.46 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 983.97 crore in the Indian equity market on June 7, as per provisional data available on the NSE.