Indian Benchmark Indices Continued its Upward Gains

 

UPCOMING ECONOMIC DATA

NEWS UPDATES

• Sensex and Nifty climbed on June 14, driven by market optimism and anticipation surrounding the upcoming budget, according to market experts. The Nifty 50 hit a fresh lifetime high of 23,490 in the last hour of trade, driven by gains in financial services and automobile stocks. At close, the Sensex was up 181 points or 0.2 percent at 76,992 and the Nifty 50 was up 66 points or 0.3 percent at 23,465.
• India’s merchandise trade deficit expanded in May as the rise in imports outpaced the increase in exports. In absolute terms, the trade gap widened to $23.8 billion in May, as compared with $19.1 billion in April
• Vodafone Group’s entire stake worth $2.3 billion in mobile-tower operator Indus Towers could be offloaded through block deals next week, Reuters reported on June 14 quoting sources familiar with the development.
• Mahindra & Mahindra Ltd. pipped Tata Motors Ltd. to become India’s second-largest auto-manufacturer on the basis of its market capitalisation, as the former’s share prices surged to a fresh high for the second consecutive session on Friday.

Source: Moneycontrol, Economic Times,  Indian Express, Business Today, Livemint, Business Standard

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