MUMBAI:

Benchmark indices were trading higher in the afternoon session with Nifty above 18400.The Sensex was up 369.32 points or 0.60 per cent at 62,397.22, and the Nifty was up 99.60 points or 0.54 per cent at 18,414.40. About 1,799 shares advanced, 1,422 shares declined, and 155 shares were unchanged.

Nifty Bank index rose 0.5% led by Bandhan Bank, Bank of Baroda, IDFC First Bank.

Asian stocks started cautiously on Monday as investors braced for a China policy rate decision and economic data this week, while awaiting a host of U.S. Federal Reserve officials to speak to vindicate market pricing of rate cuts this year.

Early action was sluggish following a report on Friday showed U.S. consumer sentiment slumped to a six-month low in May and long-term inflation expectations jumped to the highest since 2011, boosting the U.S. dollar and Treasury yields.

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MUMBAI:

After a day of trading in the negative, domestic indices NSE Nifty 50 and BSE Sensex trimmed their losses to end the session with mild gains. Nifty added 17.8 points to settle at 18,314.8, while Sensex closed at 62,027.9, higher by 123.4 points. Nifty gained over 100 points from the day’s low and Sensex added about 500 points from its intraday low to end in the green.

The broader markets were laggards, as Nifty Midcap 50 ended 0.5% down while Nifty Smallcap 50 lost 0.78%. Volatility gauge, India VIX sank 3.1%. Certain sectoral indices outperformed. Bank Nifty gained 0.8% by close, while Nifty Auto, Nifty PSU Bank, Nifty Consumer Durables all closed in the positive territory. Nifty Metal, however, crashed 1.8%; Nifty Media was lower by 1.08% and Nifty IT settled lower by 0.3%.

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MUMBAI:

After remaining range bound on the weekly expiry day on May 11, benchmark indices settled nearly flat even as the US inflation worries reduced. Though, some buying was seen in the broader market.

The majority of sectors traded in sync with the benchmark and ended flat, however, selective buying in banking, financials and FMCG kept the traders busy.

The Nifty 50 index declined 0.1 percent or 18.10 points to 18,297. BSE flagship Sensex dropped 35.68 points or 0.06 percent to 61,904.52.

Shares of Larsen & Toubro on Thursday tumbled over 5 per cent after the company said its non-executive chairman A M Naik has decided to step down from the post and will become the chairman emeritus. The stock fell 5.29 per cent to settle at Rs 2,241.65 on the BSE. During the day, it tanked 5.42 per cent to Rs.2,238.45. At the NSE, it tumbled 5.09 per cent to end at Rs.2,244.

The company’s market valuation declined by Rs.17,582.57 crore to Rs.3,15,059.92 crore.

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Indraprastha Gas Limited (IGL) is a Delhi-based gas supplier. IGL’s main business is natural gas supply, which was founded in 1998 as a joint venture between GAIL and BPCL. The Delhi government has 5% stake in the company. The company was listed on the Stock Exchange in December 2003.

The company supplies gas for domestic, commercial and industrial use. When it started operations in 1999, the company had only nine CNG (compressed natural gas) stations and 10,000 PNG (piped natural gas) customers. Today, the company has 463 CNG stations in Delhi, Noida and Ghaziabad. The company delivers PNG to 6.36 lakh households. The company also supplies PNG to 4,100 industrial units.

Indraprastha Gas has performed well in the current financial year. The company is growing 100 per cent every year in providing commercial gas connections. The company owns one of the largest CNG filling systems in the world for buses. There are five gas distribution networks in Delhi and the National Capital Region.

The performance of IGL stock over the years was different from that of the stock index. The stock has gained 14.5 per cent since the start of 2020. At the same time, the S&P BSE Midcap Index fell 7 per cent in 2019.

IGL is one of the stocks that has not significantly affected by the stock market correction. This is a stock that investors can buy with a long-term goal. Assessing the growth potential of IGL in the gas supply sector, this stock will bring investors remarkable returns in the long run.

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The surge in the stock market continued with the Sensex gaining 498 points and end the trade above 35,000. The Sensex rose till 35,467.23 points and closed at 35,414.45.
Nifty rose 127.95 points and closed at 10,430. During the day Nifty rose till 10,477.05Even though the index gained, 23 of the 50 share Nifty index registered losses during the day.
Banking and Finance shares energised the surge in the market. Axis Bank, HDFC, Bajaj Finserve, UPL and ITC were the five Nifty shares that registered the best gains on the day. Axis bank made a gain of more than 6%.
The Nifty Bank index rose 2.83 per cent. Bank of Baroda, PNB and Federal Bank gained over 4%. At the same time the performance of the Pharma shares was weak on the first day of the month. Except of Aurobindo Pharma all pharma shares were trading at a loss.
NTPC, Nestle India, L&T, Sree Cements and Cipla are the five Nifty shares that registered huge losses.

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The past week saw the stock market moving within a limit area. Even though the Nifty rose 10,553 points booking of profits was witnessed.
Banking stocks saw strong volatility but at the same time auto and IT sectors aided the market. More than a fight between the bulls and the bears, we can see availability of funds coming face to face with the drawbacks in the economy. As the bulls take the market forward, we see booking of profits in view of better global indications.
These days, the Indian market is following the lead of the US market. The unhindered rise in the number of COVID-19 patients and deaths in the United States in recent days led to the volatility in the markets.
The indications that there would be a heavy monsoon this year is aiding the domestic market. The heavy monsoon would lead to better output from the agriculture sector and the growth of the rural economy. The rural economy has been showing good signs of a revival. The demand from the rural sector has improved. At the same time, there is no respite from the fear of worsening COVID-19 situation globally and the number of COIVD patients rising domestically are negative factors.
There is a lot of pressure on the Nifty at 10,550 points. Even though the bulls have taken the market to 10,550 points, global pressure for selling it could not break this barrier
Nifty would be moving in the range of 9,500 and 10,550 in the coming week. It would be healthy for the economy to hold on to this range than a rapid rise owing to liquidity.
As the liquidity is strong it would take some more time for the market to take into account the basic factors. If the Nifty rises depending on the availability of funds, a negative news would lead to a crash in the market.

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There was no gain in the Mumbai stock market on June 25. Sensex lost 25 points and Nifty 16 points on the day. Even though there were gains in the morning, the fluctuations during the day was strong. The Sensex rose to 35,081.61, but it closed at 34,842.10. Nifty closed at 10,288.90 points.
Of the 50 Nifty index stocks only 16 made some profit on the day. ITC, Bajaj Finance, Kotak Mahindra and Gail were the five Nifty stocks that registered huge gains. ITC gained over 5 per cent.
The shares of Bajaj Finance jumped over 60 per cent in the past one month and the stocks are selling in the range of Rs.3,000 now.
Asians Paints, Hindalco, Indian Oil Corporation, Eicher Motors and HCL Tech are the five Nifty stocks that had registered the highest loses. Asians paints ended the trade at 5 per cent loss.
Banking shares saw huge losses on June 25. The Nifty private bank index saw 4 per cent loss. Pharma stocks too had selling pressure during the day.

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