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Market update 8th June 2020. Bank and IT sector help Indices to close with minor gains.

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Market update 8th June 2020. Bank and IT sector help Indices to close with minor gains.

 

Overall performance:

Today, Indian indices witnessed a volatile trade but ended on a positive note majorly supported by IT, Bank, Metal, Energy and Infra sector stocks. When market closed, SENSEX increased by 83.34 points or 0.24%, closing at 34,370.58 and NIFTY was up by 25.30 points or 0.25%, closing at 10,167.50. The S&P BSE midcap index was up by 29.45 points or 0.23%, closing at 12,583.61. S&P BSE Small cap increased by 110.16 points or 0.93%, closing at 11,965.33. While, NIFTY Midcap 100 closed at 14,222.65 up by 64.60 points or 0.46% and NIFTY Small cap 100 closed at 4,477.70, increased by 54.60 points or 1.23%.

 

Global indices and commodities:

When Indian market closed, almost all the global indices were trading at a negative note. DAX was down by 70.18 points or 0.55% and trading at 12,777.50. SGX Nifty was trading at 10,163.00 down by 1.00 points or 0.01% and CAC was trading at 5,169.24 decreased by 0.55% or 28.55 points. While, NASDAQ was trading at 9,814.08 up by 198.27 points or 2.06%.

Currently, Gold is trading at 45,985.00 up by 274 points or 0.60%, Silver is trading at 48,189.00 up by 838.00 points and 1.77% and Crude oil is trading at 3,012.00 which is increased by 22 points or 0.74%.

 

Currency:

At the closing time of Indian indices, almost all the currencies were trading at a negative note. USD was trading at Rs 75.54, decreased by 0.06%. EURO was trading at Rs 85.20, down by 0.10% and GBP was trading at Rs 95.51, down by 0.29%.

 

Sector wise performance:

Among the sectors, major jump was seen in Banking, IT, Finance and Energy sector. The S&P BSE IT index increased by 246.33 points or 1.69% and S&P BSE BANKEX was up by 157.75 points or 0.66%. BSE Auto was down by 49.24 points or 0.33%. At closing, NIFTY BANK increased by 152.85 points or 0.73%, closing at 21,187.35 and NIFTY IT was up by 267.15 points or 1.83%. While, NIFTY FMCG decreased by 39.85 points or 0.13%, closing at 29,502.15 and NIFTY Auto fell by 18.20 points.

 

Top 5 gainers:

Share price of GAIL increased by 6.90 points or 7.05%, closing at Rs 104.75, IndusInd Bank gained 29.25 points or 6.93% and closed at Rs 451.60. BPCL shares increased by 24.50 points or 6.63%, closing at Rs 394.10. Axis Bank was up by 24.50 points or 6.63%, closing at Rs 430.25 and Bajaj Finance shares was increased by 116.90 points or 4.89% and closed at Rs 2,507.25.

 

Top 5 losers:

Today, Shares of Zee Entertainment declined by 9.15 points or 4.44%, closing at Rs 197.05. Shree Cements declined by 4.11% or 908.70 points, closing at Rs 21,180.90. Eicher Motors decreased by 600.50 points or by 3.43%, closing at Rs 16,894.85. Share price of Mahindra and Mahindra fell by 13.35 points or 2.76%, closing at Rs 470.85 and Bharti Infratel declined by 6.05 points or 2,43%, closing at Rs 230.20.

 

Stock in news:

Most active stocks in terms of volume were Vodafone idea, SBI, PNB, Tata Motors, Ashok Leyland, India Bulls Hsg, Bank of Baroda, NCC, SAIL, Axis Bank, RBL Bank and IDFC First Bank. AstraZeneca was in news after its parent company announced a plan for merger with Gilead Sciences and hit 52 week high, closing at Rs 3,363.70. Among all the sectors ,major gain was seen in Banking and Finance sector today.

Bajaj Finance was in news as their share Price gained more than 116 points and closed at Rs 2,507.25. Axis Bank and IndusInd Bank also gained around 6 to 7 percent. Other than these stocks, today GAIL gained more than 7 percent and closed at Rs 104.75. FMCG stocks were in news as today almost all the stocks ended on negative note. Nestle fell by 260.65 points and Britannia decreased by 39.90 points.

 

 

Weekly market update (1st June – 5th June).

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