SGX Nifty Zooms 172 Points, Zomato's Blinkit Acquisition, ONGC's New Oil Discovery, and Top Buzzing Stocks Today

Mon, 27 Jun Pre-Open

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On Friday, Indian share markets ended on a firm note tracking positive global cues.

Benchmark indices ended on a positive note as buying was witnessed in index heavyweights like Reliance and select financial stocks.

At the closing bell on Friday, the BSE Sensex climbed 462 points (up 0.9%).

Meanwhile, the NSE Nifty ended higher by 143 points (up 0.9%).

M&M, IndusInd Bank, and Bajaj Finance were among the top gainers.

Tech Mahindra, Infosys, and NTPC, on the other hand, were among the top losers.

The broader markets also ended on a firm note. The BSE MidCap index and the BSE SmallCap index ended higher by 1.5% and 1.6% respectively.

Barring IT, all sectoral indices ended in green with stocks in the auto sector, telecom sector, and FMCG sector witnessing most of the buying.

IT stocks have taken a strong beating in the current calendar year. So be prepared on what may come next. Read about what the massive selloff in US tech stocks teaches us about investing.

As Indian share markets seem to be recovering, you must be wondering when will the markets fully recover.

In this uncertainty, check out these 5 consistent compounding stocks that are available at discount.

Also, check out this stock we call as the greatest dividend stock of all time. This IT company's dividend growth rate has beaten Nifty's 20 year annual returns.

Gold prices for the latest contract on MCX were trading up by 0.1% at Rs 50,630 per 10 grams, at the time of Indian market closing hours on Friday.

At 7:45 AM, the SGX Nifty was trading up by 172 points or 1.1% higher at 15,870 levels.

Indian share markets are headed for a gap-up opening today following the trend on SGX Nifty.

Crypto investors finally breathed a sigh of relief as the markets trade on a positive note. Bitcoin finally moved above US$ 21,000 levels.

If you are interested in crypto markets, take a look at these 4 craziest predictions about cryptos.

The Indian stock market has been falling which has traders and investors worried alike.

Falling oil and gas prices that otherwise boost investor sentiment also seem to have a shy of effect in the current markets. Why the phenomenon isn't really working?

India's #1 trader Vijay Bhambwani offers his 360 degree worldview view to answer this question.

Tune in to the below video to find out more:

Top Buzzing Stocks Today

ONGC share price will be among the top buzzing stocks today.

ONGC Videsh, the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation has made an oil discovery in the recently drilled well, Urraca-IX, in Llanos Basin, Colombia.

The company has a significant presence in oil and gas sector in Colombia, with three other exploratory blocks in the country and joint ownership of the oil producing company Mansarovar Energy Colombia.

Canara Bank share price will also be in focus today.

The state-owned bank's board has approved the plan to raise capital of Rs 90 bn through a combination of additional tier-1 and tier-2 bonds.

In a stock exchange filing the bank said that the timing and extent of fundraising would however entirely depend on the market conditions.

Zomato acquires Blinkit

Online food delivery app Zomato's board has approved its acquisition of quick commerce startup Blinkit, formerly know as Grofers, for Rs 44.5 bn in an all-stock deal.

The transaction value is 40% lower than Blinkit's last valuation of just over US$ 1 bn.

Blinkit was tagged a unicorn last year following a US$ 120 m fund raising round from Zomato and New York based investment firm Tiger Global.

According to data, Blinkit has raised US$ 692 m in total so far from investors including Japan's SoftBank, DST Global and Tiger Global. Zomato currently holds about 9% in Blinkit.

According to the acquisition deal, the shareholders of Blinkit will get about 7% in Zomato at Rs 70.76 per share.

The transaction is expected to close by early August.

In a note to shareholders, Zomato's founder and chief executive Deepinder Goyal said:

• This foray into the next big category (quick commerce) is timely as our existing food business is steadily growing towards profitability.

Note that Zomato share prices have been reeling under pressure after staging a strong debut on the bourses as the company struggles to post positive bottomline figures.

UPI payments accepted for investments in REITs

Markets regulator has provided an additional payment option of UPI mechanism to retail investors to apply in the public issue of REITs and Infrastructure Investment Trust (InvIT) for application value up to Rs 0.5 m.

The new framework will be applicable to public issue of units of InvIT and REITs, which opens from 1 August.

Separately, the regulator has decided to reduce the time taken for allotment and listing of units of privately placed InvIT after the closure of the issue to six working days as against the present requirement of 30 working days.

The move is part of market regulators' effort to streamline the process of allotment and listing of units.

REITs and InvITs are relatively new investment instruments in the Indian context but are extremely popular in the global markets.

While a REIT comprises a portfolio of commercial real assets, a major portion of which is already leased out, InvITs comprise a portfolio of infrastructure assets, such as highways and power transmission assets.

Note that investing in REITs can be one way to inflation-proof your portfolio.

Speaking of real estate sector, read how real estate players are riding the Electric Vehicle opportunity.

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!

Read the latest Market Commentary

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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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Indian Share Market Update: Top Gainers and Losers