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Sensex Today Ends Off Record High, Up 195 Points | Blue Dart Jumps 7% | HDFC Bank & ONGC Among Top Gainers
Wed, 21 Jun Closing

Sensex Today Ends Off Record High, Up 195 Points | Blue Dart Jumps 7% | HDFC Bank & ONGC Among Top Gainers

After opening the day higher, Indian share markets continued its momentum as session progressed and ended the day higher.

Benchmark indices ended in green aided by persistent foreign inflows into equities on the back of strong macroeconomic data. BSE Sensex scaled a fresh all-time high of 63,588 on the BSE in the intra-day trade today, surpassing its previous high of 63,583 touched on 1 December 2022.

At the closing bell, the BSE Sensex stood higher by 195 points (up 0.3%).

Meanwhile, the NSE Nifty closed up by 42 points (up 0.2%).

ONGC and HDFC Bank were among the top gainers today.

Hindalco and ITC on the other hand, were among the top losers today.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

The SGX Nifty was trading at 18,901, up by 20 points, at the time of writing.

Broader markets ended higher. The BSE Midcap index ended 0.7% higher and BSE SmallCap ended 0.2% higher.

Sectoral indices ended on a mixed note with stocks in the telecom sector and power sector witnessing most of the buying.

On the other hand, stocks from the metal sector and realty sector witnessed selling pressure.

Shares of MRF & ABB India hit their 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...

Asian stock markets ended on a mixed note. The Nikkei ended higher by 0.6%, while the Hang Seng ended 1.9% lower. The Shanghai Composite ended 1.3% lower.

The rupee is trading at 82.11 against the US$.

Gold prices for the latest contract on MCX are trading marginally lower at Rs 58,756 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are 0.4% lower at Rs 70,099 per kg.

Speaking of stock markets, the Indian stock market has had a great run over the last three and a half months.

The benchmark indices have hit new an all-time high. Midcaps and smallcaps are up significantly from the lows of March 2023. The sentiment in the market is very bullish.

But all is not well. The technical charts don't paint such a rosy picture.

In the below video, chartist Brijesh Bhatia shows why the market rally could be running out of steam.

RVNL's multiple-order wins

In news from the engineering sector, shares of railway PSU firm Rail Vikas Nigam (RVNL) rose 4% on W

Chennai Metro has awarded RVNL the construction of five underground stations at KMC (Kilpauk), Sterling Road JN, Nungambakkam, Gemini (Anna Flyover), Thousand Lights and Thousand Lights crossover box and works of two underground stations at Royapettah government hospital & Chetpet Metro in Corridor-2 of CMRL Phase-II project.

The order value is Rs 17.1 billion (bn) and is to be executed in 1,725 days.

The second order is for the construction of four underground stations at Dr Radhakrishnan Salai, ThirumaYilai, Mandaneli, and Adyar Junction and two cross passage shafts and one emergency escape shaft and other works at one underground station at Greenways Road.

The order's value is Rs 14.6 bn and is to be done in 1,725 days.

The third order is for the construction of three underground stations at Adyar Depot, Indira Nagar, and Taramani Road Junction (Taramani) and wall and works other than the Diaphragm wall of the underground station at Thiruvanmiyur. This order is valued at Rs 8.7 bn and is to be executed in 1,630 days.

RVNL was established in 2003 as a wholly owned Public Sector Undertaking (PSU) of the Ministry of Railways.

RVNL stands among the best railway stocks in India.

From April 2022 to April 2023, RVNL delivered a multibagger return of 204.2%.

The shares of RVNL saw a massive spike of 40% in 4 days in April 2023. To know what is driving the rally, check out our editorial- Railway stocks Zoom 40% in 4 Days! More details inside.

Rail Vikas Nigam is one of the 5 penny stocks with a high dividend yield.

Why SpiceJet share price is rising

Moving on to news from the airlines' sector, shares of SpiceJet jumped 7% after it entered into a settlement agreement with Nordic Aviation Capital (NAC), a major lessor for the airline's Q400 aircraft.

The agreement between the two settles all past liabilities for the Q400s leased by NAC to SpiceJet. Today, the airline operates five Q400 aircraft from NAC in its fleet.

SpiceJet has reportedly been facing trouble with its lessors, with as many as 25 out of its 76 planes being grounded as of May.

Market participants had said that around 43% of the airline's fleet was grounded, which was primarily due to non-payment of lease rentals and a supply chain crunch, restricting aircraft from visiting the shop floor.

The company's shares are down by more than 25% in 2023. To know why, check out the editorial- why SpiceJet share price is falling.

Lupin receives USFDA approval for key respiratory drug

Moving on to news from the pharma sector, shares of Lupin rallied over 7% to hit a fresh 52-week high today after the company received USFDA approval for a key inhaler drug.

The company today received a USFDA nod for Tiotropium Bromide Inhalation Powder in the strength of 18 mcg per capsule.

The drug is a generic equivalent of Spiriva HandiHaler, owned by Boehringer Ingelheim Pharmaceuticals, and will reduce exacerbations in chronic obstructive pulmonary disease (COPD) patients.

This generic approval given to Lupin for Spiriva HandiHaler is the first in the US and is also the first dry powder inhalation product from India for the US.

Besides, on Tuesday, the company's corporate social responsibility (CSR) arm, Lupin Human Welfare and Research Foundation (LHWRF), signed a Memorandum of Understanding (MoU) with the Maharashtra government to address the growing prevalence of cardiovascular diseases.

Check out Equitymaster's stock screener for screening India's top pharma stocks.

And 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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