Suven Life Sciences board to consider fundraising on June 24A meeting of the board of directors of Suven Life Sciences is scheduled to be held on Friday, 24th June, 2022 at 11:00 a.m., to consider matters related to raising of funds through issue of equity shares of the company on rights basis to the existing equity shareholders of the company, company said in its release.
BuzzingKEC International share price increased more than 5 percent in early trade on June 21 after the company secured new orders of Rs 1,092 crore across its various businesses.
Eicher Motors Large Trade | 4.37 lakh shares (0.16% equity) of Eicher Motors worth Rs 116.8 crore change hands at Rs 2,672.7 per share.
Nifty Information Technology index gained 1 percent supported by the Coforge, L&T Technology Services, Mphasis
BSE Metal index added over 1 percent led by the Hindalco Industries, JSW Steel, Nalco
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services:
A distinct trend in the market now is the weakness in the broader market. While Nifty 50 is down 5.6 percent during the last one month, Nifty Mid and Small- cap indices are down 9.25 percent and 12.63 percent, respectively, during the same period. This trend is likely to continue as long as the market remains weak. The pullback rally will be led by high-quality fundamentally strong large-caps.
Meanwhile, the Finance ministry’s latest Monthly Economic Review warns about the stress in government’s finances caused by the rising food and fertiliser subsidies and revenue forgone from cuts in petrol and diesel taxes. Both fiscal and current account deficits are likely to deteriorate surpassing budget estimates.
This macro headwind can turn out to be a headwind for markets too, particularly if crude remains at elevated levels. Investors should seek the safety of fundamentally strong large-caps during this phase of market turbulence.
Gainers and Losers on the BSE Sensex in the early trade:
Market Opens: Indian indices opened higher on June 21 with Nifty above 15400.
At 09:16 IST, the Sensex was up 405.99 points or 0.79% at 52003.83, and the Nifty was up 117.30 points or 0.76% at 15467.50. About 1240 shares have advanced, 444 shares declined, and 86 shares are unchanged.
Hindalco Industries, Adani Ports, Tata Motors, Tata Steel and IndusInd Bank were among major gainers on the Nifty, while losers were HUL, UltraTech Cement, Asian Paints and Maruti Suzuki.
Rupee Opens:Indian rupee opened flat at 77.97 per dollar on Tuesday against previous close of 77.98.
Market at pre-open: Benchmark indices are trading higher in the pre-opening session.
At 09:02 IST, the Sensex was up 169.66 points or 0.33% at 51767.50, and the Nifty was up 86.80 points or 0.57% at 15437.
Stocks under F&O ban on NSE
Two stocks – Indiabulls Housing Finance and RBL Bank remained under the NSE F&O ban for June 21. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
Asian shares rise as investors pause after selloff
Asian stocks and U.S. share futures turned higher on Tuesday as the market took stock after a recent steep selloff, but concerns remain that aggressive central bank rate hikes to curtail inflation could spark a global recession.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.85% in early trading, edging up from a more than five-week low hit the previous day.
Japan’s benchmark Nikkei average opened up 1.16%, and Nasdaq and S&P500 e-mini share futures each rose nearly 1.5%.
