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- Stock Market Hits New Highs On Relief From Inflation, Sensex Intra day 77145 While Market Cap Tops Rs.432 Lakh Crore
MumbaiA few moments ago
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- The Federal Reserve kept interest rates steady, with global markets still weighing on inflation
There is news of relief amid rising inflation in the country. Retail inflation in the country during May hit a one-year low of 4.75%. In the US, inflation has also fallen, but higher than expected, with the Federal Reserve keeping interest rates on hold for the seventh consecutive time. A mixed trend was seen in the global markets indicating that the focus will still be on inflation going forward, but Sensex-Nifty reached new highs as the bullish current in the Indian stock market continued.
The Sensex rose 538.89 points to hit a new high of 77,145.46 and ended the day up 204.33 points at a new high of 76810.90. While the Nifty settled by 75.95 points at a new closing level of 23,398.90. It rose 158.1 points to hit a record high of 23481.05 intra-day. Investors’ capital increased by an average of two lakh crores and reached a new peak of Rs.431.68 lakh crores.
In the Sensex pack, Mahindra & Mahindra, Titan, Larsen & Toubro, IndusInd Bank, Tech Mahindra, Ultratech Cement, Wipro, TCS gained. The BSE smallcap index gained 0.89 percent and the midcap index rose 0.79 percent. Among the sectoral indices, Realty gained 2.15 percent, Capital Goods 2.05 percent, Industrials 1.67 percent, IT 1.08 percent. Global markets had a mixed trend.
D Development’s IPO will open on June 19
D Development Engineers Limited will open its bid/offer for the initial public offer of equity shares on June 19. Equity shares each of Rs. A fresh issue of Rs 3,250 crore will comprise the total size having a face value of 10 and will be a sale of 45,82,000 equity shares OFS. Issue will close on 21st. Price Band Rs. 193 to 203 have been prescribed.
Market breadth positive, selling by local and foreign investors was recorded
Sentiment has been bullish with market breadth remaining positive. Out of the total 3984 traded on BSE, 2345 scrips advanced and 1539 scrips declined. Which shows that the market sentiment was in favor of the reform along with the market breadth being positive. The Sensex gained 20 scrips in the pack.
Nokia Ericsson will acquire 2458 crore shares of VodaIdea
Debt-ridden telecom company Vodafone Idea will allot shares worth Rs 2,458 crore to vendors Nokia India and Ericsson India for partial dues payment. VIL’s board has approved the allotment of shares on a preferential basis at a premium of around 35 per cent over the company’s follow-on offer price. Board Rs. 14.80 per share at an issue price of Rs. 166 crore equity shares of face value of 10. Allowed the allotment.