Sensex Today Ends 269 Points Higher | Nifty Below 23,550 | Auto Stocks Drag

Fri, 21 Jun Closing

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After opening the day higher, Indian share reversed the trend as the session progressed and ended the on negative note.

Benchmark indices remained negative and settled lower on Friday.

At the closing bell, the BSE Sensex stood lower by 269 points (down 0.4%).

Meanwhile, the NSE Nifty closed lower by 65 points (down 0.3%).

Hindalco, Infosys and Bharti Airtel among the top gainers today.

Nestle, Tata Motors and Nestle on the other hand, were among the top losers today.

The GIFT Nifty was trading at 23,477, down by 117 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 0.3% lower and BSE SmallCap index ended flat.

Sectoral indices are trading mixed, with socks in telecom sector, IT sector and media sector witnessing most buying. Meanwhile stocks in FMCG sector, auto sector and oil & gas sector witnessed selling pressure.

Shares of Dixon Technologies, Polycab India and raymond 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 83.53 against the US$.

Gold prices for the latest contract on MCX are trading marginally higher at Rs 72,670 per 10 grams.

Meanwhile, silver prices were trading 0.85 lower at Rs 90,943 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 Vodafone Idea Share Price is Rising

In news from the telecom sector, shares of Vodafone Idea gained around 4% after a report said the telecom service provider had completed its 5G rollout obligation in all circles. The company has a 5G spectrum in 17 circles and has completed the rollout obligation in both spectrum bands.

Vodafone Idea got network testing done by the Department of Telecommunications in both spectrum bands. The company had completed the rollout obligation with a penalty of about Rs 10 million (m).

Notably, it is mandatory to carry out rollout obligations according to the terms of the licence. An action could have been taken against the company if the rollout was not completed as per the terms. Vodafone Idea's 5G spectrum could have been cancelled. The company had a deadline of 15 August 2024.

Earlier this week, Vodafone announced that it had sold an 18% stake in Indus Towers for €1.7 billion (approximately Rs 153 bn). The company said that it will use the major portion of the proceeds to repay €1.8 billion in outstanding bank borrowings secured against Vodafone's assets in India.

Persistent pressure from lenders over an outstanding loan taken around five years ago was among the key reasons why the telco's UK parent sold its stake.

Vodafone Idea recently raised Rs 180 bn through the country's largest Follow-on Public Offer (FPO) and another Rs 20.8 bn through a promoter group entity, thereby completing its Rs 200 bn equity fundraising exercise.

Why Railway Stocks are Rising

Moving on to news from the railway sector, shares of railway-related sectors rallied up to 13% on the BSE in Friday's intra-day trade backed by heavy volumes in an otherwise weak market on strong growth visibility.

RailTel Corporation of India, Texmaco Rail & Engineering, IRCON International, RITES, Rail Vikas Nigam (RNVL) and Titagarh Rail Systems (TRSL) rallied between 5% and 13%.

Indian Railways (IR) plans to achieve 100 per cent railway route electrification by 2024-25. IR plans to establish ~500 multi-modal cargo terminals under the 'PM GatiShakti' programme, with an estimated outlay of Rs 500 bn in four to five years.

Among individual stocks, RailTel Corporation of India surged 13% on the BSE in intra-day trade after the company said it had received the work order from South Central Railway for Telecommunication works for the provision of IP-MPLS in 523RKM of Secunderabad division of South Central Railway amounting to Rs 202.2 m.

Thus far in June, RailTel has received total orders worth Rs 1.4 bn including Rs 81.45 crore from National Informatics Centre Services Incorporated for supply, installation, configuration, commissioning & integration of ICT infrastructure and operation and maintenance of the ICT infrastructure in compliance with the SLA.

Indian Railways' fast-track approach and the government's push for Atmanirbhar Bharat have catalysed the company to chart new frontiers. A steady rise in the demand for wagons from the Indian Railways helped improve the company's operational performance.

Hindustan Zinc Collaborates with AEsir Technologies

Moving on to news from the mining sector, Hindustan Zinc will be the preferred supplier of zinc for AEsir Technologies' next-generation batteries

Hindustan Zinc has signed a memorandum of understanding with AEsir Technologies, Inc., a US-based company specializing in next-generation zinc battery technologies.

Under this MoU, Hindustan Zinc will be the preferred supplier of zinc, a key raw material for AEsir Technologies' next-generation batteries.

Zinc-based batteries provide a compelling alternative to other modern energy storage solutions, delivering higher power at lower costs with minimal maintenance and longer lifespans of up to 20 years. This makes them ideal for large-scale energy storage in industrial settings.

The MoU is in line with Hindustan Zinc's efforts towards exploring emerging applications of zinc in the clean energy transition.

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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