Nifty ends flat after a volatile day, Sensex gains 66 points; Tata Steel surges 5%
19 June 2019
Market Close: Sensex finished higher, while Nifty flat in the volatile trade on June 19.
At close, the Sensex was up 66.40 points at 39112.74, while Nifty ended flat at 11691.50. About 703 shares have advanced, 1847 shares declined, and 119 shares are unchanged.
Indiabulls Housing, Yes Bank, UPL, Adani Ports and Cipla were among major losers on the Nifty, while gainers were Tata Steel, Zee Entertainment, Kotak Mahindra Bank, NTPC and Titan Company.
Among the sectors, except metal all other indices ended in the red led by pharma, infra, IT and auto.
Gold Update: Gold prices slipped on Wednesday as hopes of a resolution to the Sino-US trade spat and a dovish European Central Bank lifted riskier assets, while investors awaited the US Federal Reserve's monetary policy decision later in the day.
Market Update: Benchmark indices are trading flat to marginally higher in the afternoon trade.
The Sensex is up 15.00 points or 0.04% at 39061.34, and the Nifty down 16.40 points or 0.14% at 11675.10. About 592 shares have advanced, 1814 shares declined, and 105 shares are unchanged.
Buzzing: IRB Infrastructure Developers shares fell 14 percent to hit more than five-year low on June 19 after a media report indicated that there could be new operator for Mumbai-Pune Expressway.
Market Update: Benchmark indices continue to trade strong on June 19 with Nifty around 11,750.
At 11:16 hrs IST, the Sensex is up 261.28 points or 0.67% at 39307.62, and the Nifty up 66.50 points or 0.57% at 11758.00.
Jain Irrigation plunges 20%: Jain Irrigation Systems shares crashed 20 percent to hit a 52-week low of Rs 21.95 on June 19 after India Ratings cut its long term issuer rating.
Losers in Trade
DHFL is 17 percent off its intraday high, down 1.5 percent and Yes Bank is 3 percent of its intraday high, down half a percent.
CG Power and Manappuram General Finance lost 3 percent each.
IRB Infrastructure, Jain Irrigation, Reliance Capital, Reliance Infrastructure and Jet Airways were down 23-63 percent this week.
Buzzing: Shares of Titan Company added 2 percent on June 19 after global brokerage UBS raised price target on the stock by 28 percent.
Buzzing: Shares of NMDC rose 4 percent in the early trade on June 19 on the back of robust sales and production data for the month of May 2019.
Citi on Tata Power: Global brokerage house, Citi upgraded Tata Power, one of the largest power companies in private sector, to buy from neutral with a price target at Rs 76 per share, implying 18 percent potential upside from the current level.
Dollar Update: The dollar held near a two-week high early on Wednesday ahead of the Federal Reserve’s closely-watched policy decision later in the day, supported by a surprisingly dovish European Central Bank and bearish eurozone economic data.
Market Opens: It is a strong start for the Indian indices on June 19 with Nifty above 11,750 level.
At 09:18 hrs IST, the Sensex is up 267.07 points or 0.68% at 39,313.41, and the Nifty up 81.90 points or 0.70% at 11,773.40. About 523 shares have advanced, 288 shares declined, and 33 shares are unchanged
Tata Steel, Tata Motors, Indiabulls Housing, NMDC, JSPL, SAIL, Bank of Baroda, Bank of India, SBI and Ashok Leyland are among major gainers on the indices, while losers are BPCL, IOC and Britannia.
All the sectoral indices are trading higher led by PSU bank, metal, infra, auto, energy, IT and pharma.
Rupee Opens: The Indian rupee opened higher by 14 paise at 69.56 per dollar on Wednesday versus Tuesday's close 69.70.
Market at pre-open: Benchmark indices are trading positive in the pre-opening session with Nifty above 11,700 level.
At 09:02 hrs IST, the Sensex is up 65.01 points or 0.17% at 39111.35, and the Nifty up 49.80 points or 0.43% at 11741.30.
Technical Analyst, Prakash Gaba:
The Nifty has unfolded weak and has traded lower but has closed mildly in the green. Technically now 11,606 is a support to deal with and upside to 11,818 is not ruled out.
The Nifty Bank unfolded and traded weak but has closed flat for the day. Technically now 30,155 is a support and upside to 30,819 is not ruled out.
Crude Update: Oil prices climbed on Wednesday, extending sharp gains from the previous session on rekindled hopes for a US-China trade deal and on continued tensions in the Middle East after tanker attacks there last week.
Wall Street ends higher: Wall Street surged on Tuesday and the S&P 500 approached a record high after Washington rekindled trade talks with Beijing, boosting sentiment along with growing investor confidence that the Fed will cut interest rates this year.
SGX Nifty: Trends on SGX Nifty indicate a positive start for the broader indices in India, a gain of 44 points or 0.38 percent. Nifty futures were trading around 11,756-level on the Singaporean Exchange.