A strong rally despite muted global cues in the morning helped
Nifty50 climb 11800 levels on a closing basis while the S&P BSE
Sensex rallied by over 150 points on Wednesday.
managed to put up a strong show ahead of the June expiry on June 27 amid
reports of some agreement between US and China on trade issues.
Volatility is likely to continue as traders will roll over their
positions from June series to July series.
The near-term movement in the market is likely to be driven by progress on monsoon and global developments. The G20 summit, to be held on June 28-29, will be closely monitored by analysts, suggest experts.
The initial public offering of IndiaMART InterMESH, an online
marketplace for business products and services, was subscribed 36.16
times on the final day of bidding June 26.
The Indian rupee June
26 advanced by 21 paise to close at 69.15 against the US currency in
line with an uptrend in domestic equities.
On the institutional
front, FPIs were net buyers in Indian markets for Rs 106 cr while the
DIIs were net sellers to the tune of Rs 51 cr, provisional data showed.
first six months have been a roller coaster ride for investors but not
so much for the ones who have invested in Nifty50. The index climbed
Mount 12K to hit a fresh record high of 12103 earlier in the month of
The index has rallied by a little over 8 percent so far in
the year 2019 as of June 25 while the S&P BSE Sensex rose a little
over 10 percent in the same period.
Almost 20 percent or 10 stocks
in the Nifty50 are trading near fresh record high and also qualify
under the category of wealth creators in the index.
9 out of 10
stocks which hit fresh 52-weeks highs in June rose 10-40 percent so far
in the year 2019 which include names like Titan Company, Bajaj Finance
Bajaj Finserv, UPL, Axis Bank, TCS, Bharti Airtel, Wipro, and HDFC Bank
rose over 10 percent while HDFC is trading with gains of a little over 9
percent, as of data collated ion June 24.
Apart from the stocks
discussed above, as many as 18 stocks in the Nifty50 rose over 10
percent so far in the year 2019 which include names like SBI, ICICI
Bank, Kotak Mahindra Bank, UltraTech Cements, Infosys, RIL, HCL
Technologies, and IOC.
Nifty forms a bullish candle for the second consecutive day in a row
index has also given a seven day’s consolidation breakout from its
trading range of 11,625 to 11,850. Hence the index can move towards
12,000 unless there are any expiry jitters, experts said.
slips below 11,757, then the current bullish outlook shall get negated
and Nifty may once again move in a 200-point range with downside targets
placed around 11,650, they say.
Three levels: 11757, 11871, 11900
Max Call OI: 12000, 11900
Max Put OI: 11700, 11800
Stocks in news:
State-owned Canara Bank on June 26 said it has proposed to raise Rs 1,500 crore through bonds, to fund business growth.
Housing Finance Corporation Ltd (DHFL) June 26 said it will shortly
divest its full stakes in subsidiary firms DHFL Pramerica Asset Managers
and DHFL Pramerica Trustees.
Mindtree Chief Executive Officer
Rostow Ravanan is likely to resign in the coming weeks with
infrastructure major L&T becoming a majority shareholder in the
mid-sized IT company, according to sources.