FIRST TRADE: Indices muted amid mixed global cues; ONGC up over 2%

Stock market today: Indian shares were subdued on Tuesday (June 11) after the markets took a breather in the previous session following a rally, while investors await key U.S. inflation readings and the Federal Reserve's policy decision and commentary regarding rate cuts. 

Last seen, Sensex was down 0.07 per cent or 54.33 points at 76,435.75 and Nifty slipped 0.05 per cent or 10.65 points at 23,248.55. 

"A strong pillar of support for this bull market has been the mutual fund industry which is witnessing sustained inflows. The Rs 34,697 crore net inflows into equity funds in May and monthly SIP inflows touching Rs 20,904 in May indicate that this domestic support to the market will continue despite the FII selling. FIIs turning buyers during the last two days and covering their shorts will support the market in the near-term," said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Dr. Vijayakumar added that BJP keeping the key portfolios signals continuity in policies. This is a positive from the market perspective. From the fundamental perspective, the 25 per cent increase in corporate profitability in FY24 augurs well for the market.

In the broader market, Nifty Midcap 100 and Smallcap 100 traded in the green. High-beta Nifty Bank was down 0.35 per cent at 49,608.45

BUZZING STOCKS

IndiGo shares were down over 2 per cent after reports about block deals.

IRB Infrastructure Developers shares were down over 7 per cent after 1.75 crore shares changed hands via multiple block deals.  

Honasa Consumer shares were down over 4 per cent after reports about block deals.

Conversely, Transformers and Rectifiers shares were up over 4 per cent a day after QIP launched.

RVNL and Siemens shares traded in green after Siemens-RVNL got LoA of Rs 394 crore from Bangalore Metro Rail.

ONGC shares were up over 2 per cent after Jefferies maintained 'buy' and gave target of Rs 390. 

Catch all the updates of June 11 session on Dalal Street here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.