Stock market today: Domestic blue-chip indices began Wednesday's (June 12) session on a positive note amid heavy buying in information technology (IT), oil & gas, auto and metal counters. Globally, investors await key inflation readings and the U.S. Federal Reserve's policy decision.

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Last seen, Sensex was up 107.22 points or 0.14 per cent at 76,563.81 and NSE Nifty rose 36.4 points or 0.16 per cent at 23,301.25. 

"The 32 per cent decline in India VIX during the last 5 days indicates that the days of heightened volatility are over and the market has entered a consolidation phase. From now on the focus will be on fundamentals and news flows,"  said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Dr. Vijayakumar added there is a recent trend of investors/ speculators chasing momentum stocks with low floating stocks and excessive valuations. This is a risky trade which investors should avoid. The focus of investors should be on fairly valued quality growth stocks. Here, financials come on top. This segment has the potential to give decent returns in the medium to long term. IT stocks also have valuation comfort.

In the broader market, Nifty Midcap 100 and Smallcap 100 was up over 0.7 per cent. High-beta Nifty Bank was flat with positive bias at 49,751.85.

BUZZING STOCKS

Patanjali Foods shares were up over 1 per cent after Zee Business reported that the company will merge its non-food business.

Shipping Corporation of India Land and Assets and Shipping Corporation of India shares were up over 5 per cent after reports suggested disinvestment of the shipping corporation will accelerate.

HCL Tech shares were up over 1 per cent after the extension of the agreement with Germany's apoBank.

BL Kashyap and Sons shares were up over 2 per cent after the company received two orders worth Rs 1,021 crore.

Go Digit General Insurance shares were up over 3 per cent after it reported good Q4 numbers.

Conversely, Brightcom Group shares were locked in the lower circuit after the company reported weak Q2FY24 numbers.

Catch all the updates of June 12 session on Dalal Street here. For all other news related to business, politics, tech and auto, visit Zeebiz.com. 

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