Share Market HIGHLIGHTS: Nifty gives up 18,700, Sensex sheds 260 pts as D-Street extends losses to 2nd day; Adani Enterprises slumps 7%
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty and Sensex extended losses to a second straight day on Friday, further retreating from record high levels touched this week, amid weakness across global markets amid concerns about central banks ongoing battle against sticky inflation. Catch minute-by-minute updates on all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex extended losses to a second straight session on Friday, mirroring weakness across global markets as investors remained concerned about more of aggressive rate hikes in central banks' ongoing fight against sticky inflation. Broad-based selling pressure was prevalent in the market, wth metal, oil & gas, IT and financial shares being the biggest drags on the main indices.
Adani Enterprises (down seven per cent), Adani Ports (4.4 per cent), BPCL (3.5 per cent), Hindalco (2.9 per cent), Divi's Labs (2.1 per cent), Grasim (two per cent) and Tata Steel (1.6 per cent) were the worst hit among the 40 laggards in the Nifty blue-chip index.
On the other hand, IndusInd Bank (up 2.9 per cent), Dr Reddy's Labs (1.9 per cent), Asian Paints (1.5 per cent), Bharti Airtel (one per cent) and NTPC (0.9 per cent) were the top gainers in the 50-scrip basket.
Reliance, Infosys, Larsen & Toubro, SBI and ITC were among the biggest contributors to the losses in both headline indices.
Overall market breadth favoured the bears through the day, with the advance-decline ratio at 1:2 as 1,174 stocks rose and 2,291 fell on BSE.
Catch HIGHLIGHTS of all the action in the Indian share market on June 23, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
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Share Market Today | All Adani group stocks in the red
The US Attorney's Office in Brooklyn, New York, sent inquiries in recent months to investors with large holdings in Adani Group, focused on what the Indian ports-to-power giant told them, according to a report by Bloomberg News. Read more
Stock CMP Change (%) Adani Enterprises (ADANIENT) 2,233.1 -6.8 Adani Ports (ADANIPORTS) 714.5 -4.2 Adani Power (ADANIPOWER) 242.4 -5.6 Adani Transmission (ADANITRANS) 753.5 -6.4 Adani Green Energy (ADANIGREEN) 959.5 -1.5 Adani Total Gas (ATGL) 634.1 -3.2 Adani Wilmar (AWL) 404.1 -3.4 ACC 1,773.8 -3.2 UltraTech (ULTRACEMCO) 8,067 -1.2 New Delhi Television (NDTV) 215 -3.5 "Adani group stocks fell sharply amid reports of regulatory scrutiny in the US. Following a rapid rebound post the Hindenburg Saga, the whole Adani pack saw investors lighten their positions, as well as profit booking was witnessed in the stocks," says Aamar Deo Singh, Head Advisory at Angel One.
"Investors are advised to trade cautiously due to the possibility of enhanced volatility in the near future," he adds.
Crude oil expected to remain volatile today: Mehta Equities' Rahul Kalantri
Mehta Equities' Rahul Kalantri believes crude oil has support and resistance at at $68.7–68 and $70–70.6 a barrel levels today.
In rupee terms, crude oil has support at Rs 5,610-5,540 and resistance at Rs 5,770–5,840, he says.
Closing Bell | Sensex ends 260 pts lower, Nifty gives up 18,700 as D-Street extends losses to 2nd day; Adani Enterprises slumps 7%
Here's how the headline indices fare at the end of today's session:
- Sensex down 259.5 points or 0.4 per cent at 62,979.4
- Nifty down 105.8 points or 0.6 per cent at 18,665.5
Here's how they moved through the day:
Sensex
Nifty
Images: NSE, BSE
Share Market Tips LIVE | Buy Nifty Bank 43,500 put option at Rs 160, says Vishvesh Chauhan
Vishvesh Chauhan of Chase Alpha Investment Advisors has a trading call for those open to taking a directional view. He recommends buying the 43,500 put option of Nifty Bank at Rs 160
for targets of Rs 240, Rs 350 and Rs 450 with a stop loss at Rs 60.Share Market Tips LIVE | Sell Hero MotoCorp futures, target price Rs 2,680, says Sumeet Bagadia
Sumeet Bagadia of Choice Broking expects some correction in Hero MotoCorp, a stock, as he points out, that has staged a strong move over the past 3-4 months.
He suggests selling Hero MotoCorp futures for a short-term target of Rs 2,680 with a stop loss at Rs 2,830.
Share Market Tips LIVE | Buy Nifty 18,700 call option at Rs 82, says Jay Thakkar
In conversation with Zee Business Managing Editor Anil Singhvi, Jay Thakkar of Sharekhan says he believes traders can utilise an expected bounce in the index.
He recommends buying the 18,700 call option (monthly expiry) of the Nifty at Rs 82 for targets of Rs 132 and Rs 160 with a stop loss at Rs 48.
Share Market Today LIVE | Decreasing market share, JV termination: Key reasons why UBS has downgraded Voltas to Neutral
Global brokerage firm UBS has downgraded shares of Voltas, the Tata Group-owned home appliances company, to neutral from buy, given a continuous decrease in the company's market share amid tough competition from peers. The brokerage notes that Voltas' market share has decreased to 21.6 per cent from 25.2 per cent in the fiscal year 2021. UBS has slashed the target price of the stock by 30 per cent to Rs 840 from Rs 1,200 earlier, as reported by Zee Business. Read more
Share Market Today LIVE | Adani Total Gas, Sunteck Realty hit 52-week lows
Stock CMP 52-week high Previous 52-week high SUNTECK 274.9 271.3 271.5 (22 Jun 2023) ATGL 636.1 630 633.4 (19 May 2023) Share Market Today LIVE | IndiGo, Larsen & Toubro, Trent, PB Fintech, CreditAccess hit 52-week highs
Amid a volatile market, as many as nine stocks in the BSE 500 basket — the broadest index on the exchange — reach the milestone.
Stock CMP 52-week high Previous 52-week high ASTRAZEN 3,717.8 3,785 3,728.6 (15 Jun 2023) BLUESTARCO 780.8 819.7 808.8 (21 Jun 2023) CREDITACC 1,362.2 1,369 1,344 (22 Jun 2023) INDIGO 2,501.3 2,508 2,500 (20 Jun 2023) KPRMILL 668.5 685 680 (21 Jun 2023) LT 2,396.4 2,429.3 2,424 (22 Jun 2023) POLICYBZR 652.5 690 674.7 (15 Jun 2023) TIINDIA 3,223.3 3,394 3,248 (22 Jun 2023) TRENT 1,709.3 1,744.6 1,730 (14 Jun 2023) Nifty Today LIVE | RIL, Adani Enterprises, Infy among top draggers
RIL, Adani Enterprises, Infosys and Axis Bank are the top draggers in the Nifty baskets at this hour. On the contrary, HDFC Bank, Bharti Airtel and HDFC are among the top movers.
Here's a look at the heatmap in the 50-scrip universe by weight:
Source: NSE
Share Market Today LIVE | Overall market breadth remains in favour of bears
Overall market breadth continues to be in favour of the bears for the day, with an advance-decline ratio of 3:5 on BSE as 1,273 stocks on the bourse hold on to the green against 2,080 scrips in the red.Share Market LIVE | HDFC twins, Bharti Airtel, Asian Paints, TCS aid intraday rebound in Sensex
Stock CMP Contribution (in points) RELIANCE 2,524 -35.2 INFY 1,275.6 -22.2 ICICIBANK 922.3 -21.5 LT 2,397.6 -19.4 AXISBANK 958 -17.2 SBIN 558.1 -16.5 HINDUNILVR 2,634.5 -15.8 ITC 445.6 -15.1 TATAMOTORS 559.6 -15 TCS 3,223 -14.3 INDUSINDBK 1,295 12.4 ASIANPAINT 3,285.3 14.8 HDFC 2,733.2 29.2 BHARTIARTL 857.5 31.6 HDFCBANK 1,652.5 34.3 Share Market Today LIVE | Sensex, Nifty recover much of day's losses aided by HDFC twins, Bharti Airtel, Asian Paints
Here's how the indices have moved so far today:
Sensex LIVE
Nifty LIVE
Images: BSE, NSE
Share Market Today LIVE | Vedanta company says not selling Sterlite copper smelting plant in Thoothukudi; shares under pressure
Shares of mining major Vedanta (VEDL) reels under pressure on Friday after the company junked reports suggesting that it is selling its Sterlite copper plant in Thoothukudi, Tamil Nadu. Vedanta said it has no plans to sell the copper plant, terming the reports "wrong, baseless and incorrect". Vedanta shares fell about 1.5 per cent to Rs 276 apiece on NSE. Read more
Share Market Today LIVE | IGL, Bharti Airtel, L&T, HPCL, and Deepak Nitrite among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Sacchitanand Uttekar, Rajesh Palviya, Kunal Shah, Kunal Saraogi and Siddharth Sedani share their top recommendations for the day in this special segment, Pick of the Day.
On the top analysts' 'buy' list are stocks such as IGL, Bharti Airtel, L&T, HPCL and Deepak Nitrite. Read more
Share Market Today LIVE | Landmark Cars jumps 7% post multiple block deals, TPG Capital likely seller
Landmark Cars shares are up nearly 7 per cent to Rs 709.8 apiece on the BSE on Friday after 7.5 lakh shares, or 1.88 per cent equity, changed hands in multiple block deals in the pre-open session. As per reports, TPG Capital was expected to sell shares in the company today.
Landmark Cars made its debut in the stock market on December 23, 2022, last year. The company's IPO, whose price band was set between Rs 481 and Rs 506 per share, ran between December 13, 2022, and December 15, 2022. Read more
Anil Singhvi Market Strategy | Important levels to track in Nifty, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support for the Nifty index coming in at 18690-18755 levels and a strong buy zone at 18560-18660 levels on Friday, June 23. For the Nifty Bank, the market wizard sees support at 43500-43625 levels and a strong buy zone at 43200-43400 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE |
Nifty 50
NSE' Nifty trades at 18,705.85, down by 0.35 per cent in early morning deals.
Source: NSESensex
S&P BSE Sensex trades at 62,957.17, down by 0.45 per cent in early morning deals.
Source: BSE
Share Market Today LIVE | PNB, Dalmia Bharat, Torrent Pharma to trade ex-date today
Shares of PNB, Dalmia Bharat, Torrent Pharma, GHCL, Plastiblends India, Dhampur Bio Organics, Shriram Pistons & Rings and Raymond will trade ex-dividend on Friday, June 23, according to the NSE website.
Dhampur Bio Organics dividend
Dhampur Bio Organics has announced a dividend of Rs 3.5 per equity share with a face value of Rs 10. The stock will trade ex-dividend on June 23. The record date is also June 23. Read more
Rupee Check | Rupee opens at 82.05/$ against Thursday’s close of 81.95/$
Share Market Today LIVE | Infosys LTIMindtree TCS HCL Tech, LIC Housing Finance, ONGC, BPCL among top stocks to track
Domestic equities are expected to see a subdued opening. At 8:38 AM, Nifty futures on the Singapore Exchange (SGX) traded 21.5 points, or 0.11 per cent lower at 18,809.5 levels. Besides, Asian stocks headed for their worst week in three months on Friday as a string of hotter-than-expected inflation prints and hawkish central bank surprises made investors nervous about the economic toll of taming runaway prices.
Let's take a look at the top stocks that may remain in focus today:
IT stocks: Accenture fanned concerns about dwindling IT spending on Thursday with a quarterly revenue forecast that was below Wall Street estimates, sending its shares down more than 5%.
LIC Housing Finance: Shri T Adhikari has been appointed as the chief operating officer of the company. Read more
Share Market LIVE | Accenture narrows guidance for FY23
Information technology services giant Accenture fanned concerns about dwindling IT spending on Thursday with a quarterly revenue forecast that was below Wall Street estimates, sending its shares down more than 5%. Accenture reported revenue of $16.6 billion for the third quarter, a 2.5 per cent rise on year-on-year basis. However, the firm has lowered the top end of its revenue guidance for FY23 to 8 per cent from 9 per cent. This will be a drop f8 per cent to 10 per cent earlier.
Other key points:
- EBIT margin 14.2%
- EPS up 13 per cent from $2.79 to $3.15 (YoY)
- $1.12/share dividend declared
- New bookings $1720 Cr, a 22 per cent drop quarter on quarter
Share Market Today LIVE | SGX Nifty futures indicate a weaker start ahead on Dalal Street
Indian equity benchmarks Nifty 50 and Sensex are likely to start Friday's session on a weaker note amid negative moves across global markets. SGX Nifty futures — an early indicator of the Nifty 50 index — were down 16.5 points or 0.09 per cent at 18,814.5 at the last count ahead of the opening bell on Dalal Street.
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