Sensex Today Ends 36 Points Lower | Nifty Below 23,550 | Private Bank Stocks Shine

Wed, 19 Jun Closing

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After opening the day higher, Indian share continued the momentum as the session progressed and ended the on positive note

Equity indices hit record highs in early deals and held onto their gains through the day.

At the closing bell, the BSE Sensex stood lower by 36 points.

Meanwhile, the NSE Nifty closed lower by 36 points (down 0.2%).

HDFC Bank, Axis Bank and ICICI Bank among the top gainers today.

Titan, Hindalco and L&T on the other hand, were among the top losers today.

The GIFT Nifty was trading at 23,507, down by 84 points, at the time of writing.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list

The BSE MidCap index ended 0.9% higher and BSE SmallCap index ended 0.6% higher.

Sectoral indices are trading mixed, with socks in IT sector, banking sector and finance sector witnessing most buying. Meanwhile stocks in power sector, oil & gas sector and realty sector witnessed selling pressure.

Shares of Oracle Financials, Hindustan Aeronautics and Cumins India hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 83.45 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 71,730 per 10 grams.

Meanwhile, silver prices were trading flat at Rs 89,106 per 1 kg.

Speaking of the stock market, in a recent video, Rahul Shah, Co-Head of Research at Equitymaster, discusses the essential quality for a successful investor aiming to outperform the market index by at least 5% annually.

Drawing inspiration from legendary investors like Warren Buffett, Shah emphasizes the importance of strategically adjusting one's investment style, shifting between aggressive and defensive approaches and selecting high-quality stocks at attractive valuation.

The author recommends using the Sensex PE ratio to determine when to be aggressive (PE < 20) or defensive (PE > 22) in the Indian stock market.

Tune into below video for more details.

Why Tata Technologies Share Price is Rising

In news from the IT sector, shares of Tata Technologies surged up to 1% to Rs 1,044 apiece on 19 June after it launched the second edition of the InnoVent hackathon in collaboration with Microsoft and Tata Motors.

So far this year, shares of Tata Tech tumbled over 13%, underperforming the 8% rise in the benchmark Nifty 50 index.

Tata Tech's hackathon in 2024 will focus on generative AI-enabled innovations, which deliver value across the product development value chain, including product engineering, manufacturing, and customer experience.

Tata Tech announced this hackathon to be open to third- and fourth-year engineering students, aiming to empower top project teams with essential technologies for developing scalable solutions. On the other hand, Microsoft will contribute by granting access to Azure resources and offering mentorship through its Azure community.

Through the collaboration with Microsoft and Tata Motors, Tata Tech aims to provide young innovators with a platform to develop novel solutions leveraging Generative AI and help them translate their ideas to life.

Tata Technologies' primary business line is services, which includes providing outsourced engineering services and digital transformation services to global manufacturing clients helping them design better products for their customers.

Why Sona BLW Share Price is Rising

Moving on to news from auto ancillary space, Sona BLW Precision shares jumped over 3% in the morning session on 19 June, after the firm received certification from the Ministry of Heavy Industries under a Production-Linked Incentive (PLI) scheme.

The specific PLI scheme is for the Automobile and Auto Component industry ("PLI-Auto") from the Ministry of Heavy Industries.

The automotive tech major's revenue in the January-March quarter rose 19% on a yearly basis to Rs 8.9 bn. Of this, about 32% share of this revenue came from battery electric vehicles (BEV), which witnessed a robust 34% year-on-year (YoY) growth.

Sona BLW's profit after tax clocked in at Rs 1.5 bn. The EV segment notably contributed 79% to the net order book of Rs 226 bn.

Why Delta Corporation Surges 15%

Moving on, shares of Delta Corporation, the only listed company engaged in the casino gaming industry in India, surged nearly 15% on BSE to the day's high of Rs 151 as the Goods and Services Tax (GST) Council is likely to consider a review of tax on online gaming in its next meeting on 22 June.

The council is expected to review the decision to levy 28% GST on the full value of bets for online gaming companies, which came into effect on 1 October 2023, they said. The council had agreed to review it after six months of implementation.

The council may also take up the recommendation of the fitment committee on an inverted duty structure of 15 items, officials aware of the matter told ET. However, a broader process of rate rationalization may be pushed for later, they said.

The apex decision body for GST could also take up a proposal for clarification on the levy of tax on the secondment of employees.

The industry also expects the council to issue clarifications on critical matters such as related-party transactions, employee stock option plan (Esop) taxation, corporate guarantee and inverted duty structure in textiles and fertilizers among others.

Incorporated in 1990 as a textiles and real estate consultancy company, Delta Corp has evolved into diversified segments like casino gaming, online gaming, hospitality and real estate.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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