Buzzing Stocks: Glenmark, NIIT, GAIL India and others that will be in focus today
Follow our LIVE blog for the latest updates on the novel coronavirus pandemic and its impact
Recent vaccination rise may ease pandemic risks in Asia: Fitch
The recent acceleration of vaccinations in parts of Asia could reduce the risk of setbacks to economic recoveries and public finances associated with further waves of the Covid-19 pandemic, provided that it is sustained, says Fitch Ratings.
Gainers and losers on the BSE Sensex:
Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services:
After the recent run-up, Nifty now trades at rich valuations. Thus any negative surprise or misses in the June quarter earnings could act as a dampener. However, the overall structure of the market remains positive as the second COVID wave has now started to recede, with the number of active COVID cases down >50% since its peak in early May to sub-18 lakhs now. There is greater visibility on vaccine supply now v/s April’21 and May’21. The expeditious containment of active COVID-19 cases and accelerated pace of vaccinations would boost and provide confidence in economic growth recovery in FY22E. As states ease restrictions gradually in Jun’21, we expect the demand environment to get better. Technically too, Nifty remain in positive set up and can see move towards highs of 16000 zones.
Valuations of India small-caps exceed that of large-caps for the first time in over a decade (usually 20-50% discount to large-caps, now at premium)
Some froth building? pic.twitter.com/FJdCGsAqYR
— Mihir Vora (@theMihirV) June 8, 2021
Market Opens: Indian indices opened marginally higher on June 9 amid mixed global cues.
At 09:17 IST, the Sensex was up 56.95 points or 0.11% at 52332.52, and the Nifty was up 16.20 points or 0.10% at 15756.30. About 1486 shares have advanced, 390 shares declined, and 66 shares are unchanged.
Trade Spotlight: What Should Investors Do With Adani Power, Piramal Enterprises & SPARC?
Here’s what Mazhar Mohammad of Chartviewindia.in recommends investors should do with these stocks when the market resumes trading today
ICICI Direct:
Indian markets are likely to open flat to positive tracking mixed global cues as fear of inflation has returned to haunt investors ahead of key US inflation data, due on Thursday. US markets ended mixed amid optimism over an economic recovery, release of macroeconomic data and concerns over increase in inflation.
Market at pre-open: Benchmark indices are trading higher in the pre-opening session.
At 09:03 IST, the Sensex was up 136.49 points or 0.26% at 52412.06, and the Nifty was up 28 points or 0.18% at 15768.10.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 1,422.71 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 1,626.98 crore in the Indian equity market on June 8, as per provisional data available on the NSE.
Petrol, Diesel prices hike:
After a day of pause, petrol and diesel prices were hiked again on June 9, touching fresh record highs across the country.
Petrol and diesel prices were increased by 19 paise per litre each in Delhi, according to a price notification of state-owned fuel retailers. Following the latest price revision, petrol hit an all-time high of Rs 95.56 a litre while diesel is now priced at Rs 86.47 in the national capital.
