Morning Release of 07 June, 2018. |
Outlook
Nifty closed in the positive zone with the announcement of the RBI monetary policy. Nifty closed with a change of +0.86% at the levels of 10684. Nifty is expected to trade sideways to bullish with an immediate upside resistance of 10720-10760 and a support of 10650-10638.
Indian shares snapped a three-day losing streak to end higher on Wednesday after the Reserve Bank of India (RBI) raised the benchmark interest rates for the first time in over four years. The RBI’s monetary policy committee (MPC) lifted the repo rate by 25 basis points to 6.25%, citing inflation concerns, and maintained its “neutral” policy stance. The reverse repo rate was increased by 25 basis points to 6.00%.
The broader Nifty closed up 0.86% at 10684.65, while the benchmark BSE Sensex ended 0.79% higher at 35178.88.
The broader Nifty closed up 0.86% at 10684.65, while the benchmark BSE Sensex ended 0.79% higher at 35178.88.
Top Gainers
Company Name |
Close (in INR.) |
% Change |
BHARTIARTL |
380.70 |
4.50% |
TATAMOTORS |
295.45 |
3.68% |
TITAN |
902.00 |
4.40% |
Top Losers
Company Name |
Close (in INR.) |
% Change |
HINDPETRO |
311.00 |
-1.19% |
TECHM |
695.00 |
-0.89% |
CIPLA |
538.35 |
-0.69% |
52 week High & Low
Company Name |
Close (in INR.) |
High or Low? |
GREENFIRE |
0.75 |
HIGH |
HNGSNGBEES |
3852.18 |
HIGH |
ACCELYA |
1112.00 |
LOW |
ABAN |
115.00 |
LOW |
Indices
Indices |
Last Trade |
% Change |
NIFTY |
10684.65 |
+0.86% |
NIFTY IT |
13528.80 |
+0.89% |
NIFTY PHARMA |
8233.65 |
+1.43% |
NIFTY FMCG |
28602.00 |
+0.90% |
NIFTY REALTY |
282.80 |
+1.51% |
BANK NIFTY |
26367.60 |
+0.44% |
INDIA VIX |
12.55 |
-5.75% |
FII/DII Activity as on 06 Jun, 2018
FII/DII |
Net Change (in Cr.) |
FII |
-81.40 |
DII |
+712.31 |
Corporate Events & Results Corner
- Hindustan Construction Co. announced that its JV with MAX Group has won a INR. 737 Cr. contract from Russia for a nuclear power plant in Bangladesh. The contract includes civil works of Turbine Island for Unit 1 of Rooppur Nuclear Power Plant (NPP).
- Electrosteel Steels, which is undergoing insolvency resolution process, has allotted equity shares to its lenders following conversion of loan of about INR. 7400 Cr.
- Glenmark Pharmaceuticals has received final approval from the US health regulator for generic versions of Loestrin tablets, used to prevent pregnancy.
- IDFC Bank has received RBI's approval for merger of Capital First, Capital First Home Finance, and Capital First Securities with the company.