On Tuesday, June 16, the bullish trend on Dalal Street continued for the third consecutive session. Investors welcomed the US-Iran peace deal and the subsequent fall in crude oil prices, which has eased inflation and growth concerns. BSE’s key index Sensex rose 544 points or 0.71 percent to 76,809 and NSE’s Nifty 50 index closed at 23,989 with a gain of 135.25 points or 0.57%.
Amid the positive environment created after the announcement of the peace deal, the benchmark index has gained about 4% in the last three sessions. Where Sensex has seen an increase of more than 4 percent and Nifty has seen a rise of more than 3 percent. In three days, Sensex has increased by 2,975.93 points and Nifty has increased by 827.55 points. At the same time, stock market investors have earned about Rs 20 lakh crore in these three days.
As geopolitical tensions ease, investors’ focus is now on the first meeting of the US Federal Reserve to be chaired by newly appointed Chairman Kevin Wersh. Vinod Nair, head of research at Geojit Investments Ltd, said that although the benchmark interest rates are widely expected to remain stable, market participants will keep a close eye on the ‘forward guidance’ and commentary on the direction of monetary policy. Let us also tell you what 10 special things were seen in the stock market on Tuesday.
10 important things about Indian stock market
What was the reason for the movement in the market today?
Gaurav Garg, Research Analyst, Lemon Markets Desk, said that the market mood remained positive as crude oil prices fell due to reduction in geopolitical tension due to US-Iran peace agreement, which improved India’s macro-economic outlook.
He said the fall in oil prices reduced inflation concerns, stabilized the currency and increased expectations of corporate earnings in many sectors. Positive global indicators, continued buying in IT and consumer-centric stocks and rising investor confidence also helped improve the market mood.?
Increase in market cap by Rs 1.75 lakh crore
Investor wealth increased by Rs 1.76 lakh crore in today’s trading, as the market cap of all the companies listed on BSE increased to Rs 472.25 lakh crore from Rs 470.49 lakh crore a day earlier. By the way, in three consecutive days the market cap of BSE has gained about Rs 20 lakh crore.
Shares with highest gain in Nifty today
Out of the stocks included in Nifty, 30 stocks closed with gains, in which HCL Technologies was at the forefront and its shares increased by 3.7 percent. This big IT company decided to buy 10.5 percent stake in domestic generative AI startup ‘Sarvam AI’. Tata Consumer Products also did not lag behind and grew by 2.7 percent. At the same time, NTPC, Bajaj Finserv and HUL were also among the gainers, which increased by 2 percent or more in today’s trading.
Shares that fell the most in Nifty
On the other hand, among the 20 falling stocks in Nifty 50, Hindalco was the biggest faller. Due to huge fall in aluminum prices, this metal stock fell by 2.95 percent today. JSW Steel, HDFC Life, Eicher Motors and Maruti Suzuki were also among those stocks which declined in today’s trading.
growth in broad market
The mood in the broader market also remained strong. Along with the benchmark, mid-cap and small-cap indices also gained, registering a rise of 0.41 per cent and 0.42 per cent respectively.
keep an eye on the sector
The IT sector was the best performing sector, with a growth of 1.78 percent. It got support from continuous buying in large-cap technology stocks. At the same time, Realty, Media, FMCG, Construction and Oil & Gas indices also closed with gains, which shows wide participation in the market. On the other hand, due to weakness in metal prices, heavy selling pressure was witnessed in metal stocks and this sector remained the worst performer. The index closed down 1.55 percent. Slight decline was seen in Auto, Pharma, Healthcare, PSU Bank, Cement and Midcap Healthcare indices.
Most active share
In terms of volume, Vodafone Idea was the most active share on NSE, with 49.24 crore shares traded. Suzlon Energy, Motions Jewelers and Yes Bank were other stocks which saw huge volume of more than 20 crore shares today.
Shares at 52-week high and low
Today 83 stocks created new 52-week high, including Bandhan Bank, Aeroflex Industries, Deccan Gold Mines, Federal Bank, IFCI, Rategain and Yes Bank. At the same time, 28 shares fell to their 52-week low. Some of the stocks that hit one-year low include Bayer CropScience, Parshvanath Developers and Vedanta Power. Today the advance-decline ratio was in favor of the advancing stocks as 1956 stocks advanced and 1356 stocks declined.
Technical view of Nifty
Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, said that Nifty has formed a small-bodied candle on the daily chart, which shows a lack of strong confidence in any particular direction in the market. He said that the index is trading above its 20-day and 50-day EMA and both of them are gradually moving upwards, which is a positive sign. According to Shah, going forward the zone of 24,080-24,100 can act as an immediate hurdle for the index. If it sustains above the level of 24,100, fresh buying can begin. This may open the way for a rise to 24,250 and then to 24,400 in the short term. At the same time, on the downside, the zone of 23,900-23,880 remains an important support area.
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