अब आप न्यूज्ड हिंदी में पढ़ सकते हैं। यहाँ क्लिक करें
Home » Business » Closing Bell: Nifty manages to hold 10,300; banks, pharma fall the most

Closing Bell: Nifty manages to hold 10,300; banks, pharma fall the most

Experts are of the view that as long as yellow metal sustains above Rs 48,200, it is a buy on dips for a target of Rs 48,600 per 10 gm.

By Newsd
Updated on :
Market Forecast: Equities likely to rise further but valuations cast a concern

Around 09:30 hours, MCX Gold August Futures was at Rs 48,288 per 10 gram, up Rs 56.

Experts are of the view that as long as yellow metal sustains above Rs 48,200, it is a buy on dips for a target of Rs 48,600 per 10 gm.

Equity benchmarks opened with gains on June 24, supported by positive global sentiment. Around 09:20 hours, BSE Sensex was 114 points up at 35,545 while Nifty was 39 points higher at 10,509.

As per data available with NSDL, FPIs have pumped in Rs 20,242 crore in the Indian market in June so far. They have invested Rs 22,194 crore in equity but took out Rs 3,167 crore from the debt market. Debt-VRR and Hybrid segments have seen FPI inflow of Rs 1,157 crore and Rs 57 crore, respectively, in June so far.

Stay with Newsd.in for more such updates.

Live Blog

7:54PM 24 Jun, 20
Sensex is down 561.45 points or 1.58% at 34868.98, and the Nifty down 165.70 points or 1.58% at 10305.30

About 1245 shares have advanced, 1429 shares declined, and 134 shares are unchanged. Among the sectors, banks, metals and pharma were the worst hit down 2-3 percent while the BSE midcap and smallcap indices shed a percent each at close.

7:50PM 24 Jun, 20
Pharmaceuticals were locked in 10 percent lower circuit after showing massive rally in previous five consecutive sessions

Post de-merger, the pharma business will be largely driven by two cash cow segments i.e. innovative CRAMS and speciality chemicals, said ICICI Direct which has a buy rating on the stock with a target of Rs 690, implying 32 percent potential upside from current levels. Suven Life Sciences had announced a demerger of its CRAMS business in January, 2020 to be held by the demerged entity, Suven Pharma (SPL), while Suven Life will continue to hold the discovery research segment and IPs. Subsequently, Suven Pharma shares got listed on Indian bourses on March 9, 2020.

12:53PM 24 Jun, 20
SEBI extends the last date to announce quarterly results

SEBI extends the last date to announce Q4 & FY20 results to July 31 from June 30. 

12:07PM 24 Jun, 20
JMC Projects share price surged over 16 percent intraday on June 24

 JMC Projects share price surged over 16 percent intraday on June 24 after the company said on June 23 it has secured new orders worth Rs 938 crore.

The stock price zoomed over 65 percent in the last 3 months.

The scrip witnessed spurt in volume by more than 5.02 times and was trading with volumes of 99,754 shares, compared to its five day average of 28,937 shares, an increase of 244.73 percent.

11:10AM 24 Jun, 20
Rupee opens slightly higher on Wednesday

Rupee opened at 75.61 per dollar against the Tuesday’s close of 75.64. 

10:01AM 24 Jun, 20
Shares of Power Grid Corporation of India fell almost 2 percent, NTPC jumps over 2 percent

Shares of Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), Oil India (OIL), GAIL India, Power Grid Corporation of India and NTPC traded mixed in morning trade on BSE after Fitch Ratings revised the outlook on these company's ratings.

Shares of Power Grid Corporation of India fell almost 2 percent while those of NTPC jumped over 2 percent in early trade on BSE. 

Shares of IOC, BPCL, OIL and GAIL traded with gains of about half-a-percent. 

"Fitch Ratings has revised the outlook on the long-term issuer default ratings (IDR) of six rated Indian government-related entities (GREs) to Negative from Stable. The entities' long-term IDRs are affirmed at 'BBB-'. The rating action follows the revision of the Outlook on India's 'BBB-' sovereign rating to Negative from Stable on June 18," it said in a statement.

9:55AM 24 Jun, 20
Info Edge says things getting back on track

Things are getting back on track with respect to online traffic, especially in 'Naukri'. We will take few months before revenue is back on track, the company told CNBC-TV18.   Q1 was impacted by lockdown with about 50 percent dip in business. We are more hopeful about June but will see collections only during the end of the month, Info Edge said.   The company said it does not want to miss out on opportunities for fundraising. It said it is making strategic investments in few entities and will continue to do so.   Market share in matrimonials, real estate will increase going ahead and the business that will help raise market share in the existing verticals will be on radar for M&A. The company said it will consider classifieds business in new spaces, maybe like auto.   Shares of the company fell nearly 4 percent in early trade on BSE.

9:53AM 24 Jun, 20
Equity benchmarks opened with gains on June 24

It was supported by positive global sentiment. Around 09:20 hours, BSE Sensex was 114 points up at 35,545 while Nifty was 39 points higher at 10,509.

Related