Sensex Today Ends 210 Points Lower | Banking Stocks Drag| CDSL Rallies 20%

Fri, 28 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.

Benchmarks Sensex and Nifty settled lower despite hitting fresh record highs earlier in the day.

At the closing bell, the BSE Sensex stood lower by 210 points (down 0.3%).

Meanwhile, the NSE Nifty closed lower by 34 points (down 0.1%).

ONGC, Reliance and Tata Motors among the top gainers today.

Axis Bank, ICICI Bank and Bharti Airtel on the other hand, were among the top losers today.

The GIFT Nifty was trading at 24,159, up by 24 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 0.4% higher and BSE SmallCap index ended 0.6% higher.

Sectoral indices are trading mixed, with socks in metal sector, energy sector and oil & gas sector witnessing most buying. Meanwhile stocks in power sector, banking sector and capital goods sector witnessed selling pressure.

Shares of Hitachi Energy, Oracle Finance and Trent 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 83.39 against the US$.

Gold prices for the latest contract on MCX are trading marginally higher at Rs 71,619 per 10 grams.

Meanwhile, silver prices were trading 0.8% higher at Rs 89,899 per 1 kg.

Speaking of the stock market, two experienced fund managers, James Chanos (US) and Sankaran Naren (India), are concerned about high speculation and low margins of safety in their respective stock markets. This means there's a greater risk of losses if the market crashes.

The advice? Invest cautiously. Consider "stock market insurance".

Rahul Shah, Co-head of research at Equitymaster, talks about what exactly is this insurance and how does it work?

Tune into below video for more details.

Why Nazara Tech Share Price is Rising

In news from the IT sector, shares of Nazara Technologies surged close to 3% on Friday after the gaming firm's subsidiary signed an agreement to acquire an 86.5% stake of Freaks 4U Gaming for Rs 2.7 bn by share swap.

Nazara Tech already owns a 13.5% stake in Freaks 4U and will hold 57% after the completion of the deal, the company said in a statement on June 28. It will have an exclusive right to acquire the balance 43% stake from the Germany-based firm's founders at its discretion.

The acquisition will be carried out by Nodwin Gaming International, a wholly-owned subsidiary of Nodwin Gaming Private Limited, which is a material subsidiary of Nazara Technologies.

The deal will help Nodwin improve its penetration in the developed markets and serve as a revenue driver.

The deal is likely to be completed by 15 July 2024, subject to regulatory requirements.

Freaks 4U, started in 2011, is a Berlin-based company that focuses on gaming and esports. It had reported a turnover of Rs 2.4 bn for the December 2023 quarter.

The company owns several IPs including Kiddopia, Animal Jam, and World Cricket Championship.

It offers interactive gaming, e-sports, adtech, and gamified early learning for users across India, Africa, and North America.

Why Godrej Properties Share Price is Rising

Moving on to news from the realty sector, shares of Godrej Properties surged over 2% to hit an all-time high of Rs 3,170 apiece on 28 June after it reported highest-ever pre-sales of Rs 225 bn in FY24.

With this, it has now become the largest developer in terms of bookings. Godrej Properties' pre-sales rose by 84% year-on-year (YoY) in FY24, 61% higher than its guidance.

The performance was mainly led by new launches, which increased by 65% in FY24, of which 70% were absorbed during the year and contributed 70% to total pre-sales. Pre-sales in NCR trebled to Rs 100 bn, whereas the Mumbai Metropolitan Region (MMR) rose over two-fold to Rs 6,500 crore.

Going forward, the management has guided for pre-sales of Rs 270 bn in FY25, which implies 20% YoY growth.

The company is gearing up to launch projects worth Rs 300 bn in FY25 across its core markets of NCR, MMR, Bengaluru and Pune, as well as the recently entered Hyderabad market.

CDSL to Consider Bonus Share

Moving on to news from the depository services sector, Central Depository Services (CDSL) shares surged 15.9% on the NSE today to reach a new 52-week high of Rs 2,324.8, following the board's announcement of a meeting on 2 July to consider issuing bonus shares to eligible shareholders.

The record date for this purpose has yet to be determined and will be communicated at a later date.

Based on the available information, this will mark the first instance of the company issuing bonus shares to its shareholders.

As Asia's only listed depository, CDSL maintains and provides services to over 115.6 m investors as of March 2024. During the fiscal year 2023-24, the company witnessed the opening of more than 32.6 m new demat accounts, with a record 10.9 m registrations in Q4 FY 23-24 alone.

This quarterly figure marks the highest number of demat account registrations in CDSL's history.

Central Depository Services (India) Limited (CDSL) is one of India's leading securities depositories.

It is the only listed depository in India and a key beneficiary of structural growth in capital markets.

There are only two depositories in India, the other being NSDL which is not listed yet.

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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