Indian equity indices recovered on the second consecutive day after the hefty fall on the Lok Sabha Election Result day. The Nifty opened at 22,798.60 up 178.25 points from yesterday’s close and made an intraday high of 22,910.15 but closed at 22,821.40 up 201.05 points or 0.89%. The BSE Sensex closed 692.27 points or 0.93% higher at 75,074.51. Heavy-weight stocks like Infosys, State Bank Of India, Larsen & Toubro, Tata Consultancy Services, and Reliance Industries helped in the gains of Nifty 50. While Hindustan Unilever, Mahindra & Mahindra, Axis Bank, Hindalco Industries, and Asian Paints weighed on the index.
The broader market outperformed the benchmark index; The S&P BSE Mid-Cap index advanced by 2.28% and the S&P BSE Small-Cap index by 3.06%. On BSE, 3,010 stocks advanced, 833 stocks declined and 102 remained unchanged.
Among the Nifty Realty index (up 4.69%), the Nifty Media index (up 3.68%) and the Nifty PSU Bank index (up 2.92%) outperformed the Nifty 50 index. Meanwhile, the Nifty FMCG index (down 0.34%), the Nifty Pharma index (down 0.25%) and the Nifty Private Bank index (down 0.03%) underperformed the Nifty 50 index.
In the past few trading days, the Nifty has experienced a significant rebound and is currently trading at the 22900 level. The recent support & Resistance for the Nifty stands at 22500-22300 & 23000-23200.
DERIVATIVE PICKS
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BIOCON.24.06 Jun | 337.3 | 10.01 | 9.54 | 42287500 | PIDILITIND.24.06 Jun | 3102.05 | -2.19 | 5.87 | 1832000 | |
| EXIDEIND.24.06 Jun | 530.95 | 7.62 | 14.07 | 21373200 | HINDALCO.24.06 Jun | 681.3 | -2.12 | 1.49 | 42432600 | |
| ABCAPITAL.24.06 Jun | 232.15 | 7.13 | 8.2 | 60609600 | HEROMOTOCO.24.06 Jun | 5557.05 | -2.01 | 2.73 | 3810600 | |
| HAL.24.06 Jun | 4692 | 6.99 | 5.24 | 11909700 | IPCALAB.24.06 Jun | 1159.55 | -1.9 | 3.85 | 2399800 | |
| CONCOR.24.06 Jun | 1062 | 6.87 | 2.15 | 9220000 | HINDUNILVR.24.06 Jun | 2538.05 | -1.86 | 2.61 | 18914400 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BHEL.24.06 Jun | 280 | 9.33 | -1.21 | 71835750 | TRENT.24.06 Jun | 4896.1 | -0.37 | -0.11 | 2996400 | |
| IRCTC.24.06 Jun | 980.5 | 6.21 | -0.08 | 15750875 | ||||||
| ZEEL.24.06 Jun | 154.5 | 5.86 | -1.46 | 133788000 | ||||||
| HINDCOPPER.24.06 Jun | 339.5 | 5.35 | -3.25 | 30634000 | ||||||
| PETRONET.24.06 Jun | 303.85 | 5.16 | -3.67 | 38115000 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Infosys Limited | 1472.25 | 2.95 | 12660930 | 6563777 | 71.09 | Nifty50 | 22821.4 | 0.89 | 71421 | |
| Info Edge (india) Limite | 6125.2 | 2.16 | 416434 | 389382 | 70.54 | Niftybank | 49291.9 | 0.48 | 71424 | |
| Ltimindtree Limited | 4800.25 | 2.38 | 622901 | 316568 | 69.26 | Nifty it | 34023.8 | 2.83 | 71424 | |
| Sun Pharma Ltd | 1472.7 | -0.98 | 3004955 | 1638854 | 65.88 | India Vix | 16.55 | -12.39 | 79772 | |
| Indiamart Intermesh Limi | 2546.6 | 2.29 | 144846 | 217719 | 64.16 | Nifty Fmcg | 57373.6 | -0.34 | 71424 | |
| Max Financial Services l | 927.2 | 0.1 | 1174484 | 683589 | 64.1 | Nifty Pharma | 19232.1 | -0.25 | 71424 | |
| Bharti Airtel Limited | 1370.6 | 1.95 | 10279789 | 7718017 | 63.39 | Nifty Realty | 1047.75 | 4.69 | 71424 | |
| Mphasis Limited | 2436.3 | 3.14 | 650875 | 609766 | 63.33 | Nifty Auto | 24396.7 | 0.47 | 71424 | |
| Tata Consultancy Serv Lt | 3830.4 | 2.24 | 4328036 | 1753337 | 62.63 | Nifty Metal | 9632.5 | 1.43 | 71424 | |
| Godrej Cons Products Ltd | 1402.15 | -1.73 | 1356564 | 3429003 | 62.25 | Nifty Financial Services | 21894.9 | 0.98 | 71424 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Interest Rate Decision on 07th June, 2024
INR: FX Reserves, USD on 07th June, 2024 |
USD : Nonfarm Payrolls (May) on 07th June, 2024
USD: Unemployment Rate (May) on 07th June, 2024 |
NEWS UPDATES
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Indian benchmark indices ended higher for the second consecutive session on June 6 amid volatility. HCL Technologies, Shriram Finance, SBI Life Insurance, Tech Mahindra and SBI were among major gainers on the Nifty, while losers were Hindalco Industries, HUL, Asian Paints, Hero MotoCorp and Nestle. Except pharma and FMCG, all other sectoral indices ended in the green with PSU Bank, IT, Realty up 3-5 percent. The BSE midcap index gained 2 percent while the smallcap index rose 3 percent.
-
ITC shares gained over 1 percent to Rs 434 apiece on June 6 after shareholders approved demerger of the conglomerate’s hotel business. Around 99.6 percent shareholders voted in favour of demerger, while just 0.4 percent voted against it, ITC said in a stock exchange filing.
-
Zee Entertainment Enterprises Limited (ZEEL) on June 6 said that its board has given its in-principle approval for raising funds up to Rs 2,000 crore via issuance of shares or eligible securities.
Source: Moneycontrol, Economic Times, Indian Express, Business Today, Livemint, Business Standard
BOARD MEETINGS
| Company Name | Purpose | Meeting Date | Company Name | Purpose | Meeting Date |
| BLUECLOUDS | General;Preferential Issue of shares | 07-Jun-24 | BISIL | General | 10-Jun-24 |
| CREST | General | 07-Jun-24 | CALSOFT | Right Issue of Equity Shares;General | 10-Jun-24 |
| EROSMEDIA | General | 07-Jun-24 | DHANCOT | General | 10-Jun-24 |
| FONE4 | General;Audited Results | 07-Jun-24 | DHYAANITR | General;Audited Results | 10-Jun-24 |
| GCCLINP | General | 07-Jun-24 | GNRL | Increase in Authorised Capital;General;Rights Issue | 10-Jun-24 |
| HDFCAMC | Interim Dividend | 07-Jun-24 | KAVVERITEL | General;Issue Of Warrants | 10-Jun-24 |
| ISWL | Audited Results | 07-Jun-24 | NLCINDIA | General | 10-Jun-24 |
| PTC | Final Dividend;Audited Results | 07-Jun-24 | SEACOAST | Right Issue of Equity Shares;General;Preferential Issue of shares | 10-Jun-24 |
| SPL | Right Issue of Equity Shares;Rights Issue | 07-Jun-24 | WELCURE | General | 10-Jun-24 |
| TOYAMSL | General;Quarterly Results;Audited Results | 07-Jun-24 | ARISINT | General | 11-Jun-24 |
| ESSARSHPNG | General | 08-Jun-24 | GODIGIT | Audited Results | 11-Jun-24 |
| JPINFRATEC | General | 08-Jun-24 | NATURO | Audited Results | 11-Jun-24 |
| KRRAIL | General;Audited Results | 08-Jun-24 | SBIN | General | 11-Jun-24 |
| MUTHOOTMF | A.G.M. | 08-Jun-24 | UNRYLMA | Audited Results | 11-Jun-24 |
| SUPERHOUSE | Audited Results | 08-Jun-24 | CMICABLES | Quarterly Results | 12-Jun-24 |
| TRANSPACT | General | 08-Jun-24 | KUMPFIN | General | 12-Jun-24 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| HOMEFIRST | 07-Jun-24 | Final Dividend – Rs. – 3.4000 | JINDALSAW | 11-Jun-24 | Final Dividend – Rs. – 4.0000 |
| HSCL | 07-Jun-24 | Final Dividend – Rs. – 0.5000 | KRITI | 11-Jun-24 | Final Dividend – Rs. – 0.2000 |
| ICICIGI | 07-Jun-24 | Final Dividend – Rs. – 6.0000 | KRITINUT | 11-Jun-24 | Final Dividend – Rs. – 0.3000 |
| INA | 07-Jun-24 | E.G.M. | TATAMOTORS | 11-Jun-24 | Special Dividend – Rs. – 3.0000 |
| INDHOTEL | 07-Jun-24 | Final Dividend – Rs. – 1.7500 | TATAMOTORS | 11-Jun-24 | Final Dividend – Rs. – 3.0000 |
| INDIAMART | 07-Jun-24 | Final Dividend – Rs. – 20.0000 | TATAMTRDVR | 11-Jun-24 | Special Dividend – Rs. – 3.1000 |
| INDIANB | 07-Jun-24 | Final Dividend – Rs. – 12.0000 | TATAMTRDVR | 11-Jun-24 | Final Dividend – Rs. – 3.1000 |
| JMFINANCIL | 07-Jun-24 | Final Dividend – Rs. – 2.0000 | COLORCHIPS | 12-Jun-24 | Consolidation of Shares |
| RFSL | 07-Jun-24 | Interim Dividend – Rs. – 0.8000 | TATACHEM | 12-Jun-24 | Final Dividend – Rs. – 15.0000 |
| SMCGLOBAL | 07-Jun-24 | Final Dividend – Rs. – 1.2000 | CIEINDIA | 13-Jun-24 | Final Dividend – Rs. – 5.0000 |
| SPRIGHT | 07-Jun-24 | Right Issue of Equity Shares | ICICIPRULI | 13-Jun-24 | Final Dividend – Rs. – 0.6000 |
| UNOMINDA | 07-Jun-24 | Final Dividend – Rs. – 1.3500 | KSB | 13-Jun-24 | Final Dividend – Rs. – 17.5000 |
| LALPATHLAB | 10-Jun-24 | Final Dividend – Rs. – 6.0000 | MKVENTURES | 13-Jun-24 | Interim Dividend – Rs. – 1.0000 |
| MOTILALOFS | 10-Jun-24 | Bonus issue 3:1 | RAYMOND | 13-Jun-24 | Final Dividend – Rs. – 10.0000 |
| NELCO | 10-Jun-24 | Dividend – Rs. – 2.2000 | SHANKARA | 13-Jun-24 | Final Dividend – Rs. – 3.0000 |
| ASIANPAINT | 11-Jun-24 | Final Dividend – Rs. – 28.1500 | TATATECH | 13-Jun-24 | Special Dividend – Rs. – 1.6500 |
/div>
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