Buzzing Stocks: Oil India, Yes Bank, Godrej Properties and other stocks in news today
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Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services:
The further direction of the domestic markets would depend on the monsoon, opening up of the economy in a phased manner and the pace of vaccination going forward. As states ease restrictions gradually in Jun’21, we expect the demand environment to get better which can have a positive impact on the markets. Technically too, Nifty remain in a positive set up and can see a move towards highs of 16000 zones.
Also with many states starting to ease restrictions gradually, we expect the demand environment to improve and the unlock trade to play out well in Jun’21. On the global front US CPI data could decide the market direction as any sign of stimulus tapering by Fed could affect the liquidity in the market.
Gainers and Losers on the BSE Sensex
Market Opens: Benchmark indices opened at fresh record high on June 11 with Nifty above 15800.
The Sensex was up 228.01 points or 0.44% at 52528.48, and the Nifty was up 73.20 points or 0.47% at 15811.00. About 1667 shares have advanced, 294 shares declined, and 47 shares are unchanged.
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Indian markets are likely to open flat to positive tracking mixed global cues as US inflation grew higher than expected in May (5% QoQ) while US unemployment showed a modest decline. US markets ended higher despite release of macroeconomic data reporting higher-than-expected increase in consumer prices.
Market at pre-open: Benchmark indices are trading higher in the pre-opening session amid mixed global ceus.
At 09:02 IST, the Sensex was up 222.67 points or 0.43% at 52523.14, and the Nifty was up 58.20 points or 0.37% at 15796.00.
Dodla Dairy IPO to open on June 16:
Dodla Dairy will launch its initial public offering (IPO) on June 16. The issue will close on June 18. The company has fixed the issue price band at Rs 421-428 per share. The public offer comprises a fresh issue of up to Rs 50 crore and an offer for sale of up to 1,09,85,444 equity shares by promoters and investor.
Petrol, diesel prices today
After a day of pause, petrol and diesel prices were hiked again by 28 to 30 paise on June 11, taking fuel prices across the country to a historic high. The increase on the day was the 23rd rise in prices since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in some states.
DAILY VOICE | India Is On A Cusp Of Multi-year Growth Revival; Demand Recovery Expected By Diwali: Harshad Borawake Of Mirae Asset
In the current market scenario, staggered investments through SIPs or STPs would remain the best ways to invest in equities, says Borawake.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 1,329.7 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 575.19 crore in the Indian equity market on June 10, as per provisional data available on the NSE.