MARKET UPDATE:Sensex at 52,275 levels, down 53 points and Nifty at 15,740-mark, down 11.5 points
Published On: Wednesday, June 9, 2021 | By: Team KnowMyStock
Indian Benchmark indices traded range-bound around flat line today(9th June 2021). However, broader markets scaled fresh record peaks as stock-specific action dominated the equity markets today. The BSE-barometer of 30 shares ended at 52,275 levels, down 53 points or 0.10 percent while the Nifty50 shut shop at 15,740-mark, down 11.5 points or 0.07 percent. Tata Motors, Tech M, Bharti Airtel, Indian Oil Corporation, HCL Tech, and Infosys were the top gainers on the indices. Hindalco, Tata Steel, JSW Steel, Kotak Bank, HDFC, and SBI, meanwhile, were the top laggards. In the broader market space, the BSE MidCap index hit a record peak for the fifth consecutive day, at 22,822.6 levels, and ended the day at 22,769.5 levels, up 0.36 percent. The SmallCap counterpart, on the other hand, closed 0.9 percent higher at 24,827 levels after hitting a new peak of 24,868 earlier today.
Individually, Adani Power hit a record high of Rs 151, soaring 19 per cent in intra-day trade, on the back of heavy volumes while Torrent Power and Tata Power gained over 4 per cent each on the BSE. Propelled by these, the S&P BSE Power index hit a 10-year high of 3,008, a level last seen in January 2011.
Besides, shares of Piramal Enterprises zoomed 11 per cent to Rs 2,183 on the BSE in intra-day trade, thus surging 17 per cent in two days, after the Mumbai Bench of the National Company Law Tribunal (NCLT) approved Piramal Group’s resolution plan for the beleaguered Dewan Housing Finance Ltd (DHFL). DHFL's stock was also locked in upper circuit for the second straight day, up 10 per cent at Rs 22.85 on the BSE with only buyers seen on the counter.
On the sectoral front, metal and financial stocks remained under pressure with the Nifty Bank, PSU Bank, and Metal indices closing up to 1.4 per cent lower. On the upside, the Nifty IT, FMCG, and Pharma indices gained around 1 per cent each.
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