Stock Market Live: Markets higher! Nifty reclaims 23,300, Sensex up 175 points; Nifty Midcap 100 hits new all-time high

Share Market News Today | Sensex, Nifty, Share Prices LIVE:

The benchmark equity indices started Tuesday’s trading session positively. The NSE Nifty 50 opened up by 24.55 points or 0.11%, reaching 23,283.75, while the BSE Sensex gained 190.82 points or 0.25%, rising to 76,680.90. The broader indices showed mixed performance. The Bank Nifty index opened marginally lower by 29.70 points or 0.06%, settling at 49,751.20.

Stock Market Live Updates:

IndiGo Down Over 4%
Shares of InterGlobe Aviation dropped by 4% following a block deal involving 83.7 lakh shares, representing a 2.2% stake in the company, executed at an average price of Rs 4,406 per share, amounting to Rs 3,689 crore, according to Moneycontrol.

Key Levels to Watch on Bank Nifty
“The Bank Nifty Index encountered resistance at the 50000 mark, where the highest open interest is on the call side. The index needs to surpass the 50000 mark decisively to move towards the 50600/51000 levels. Support is at 49000,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.

Sensex Today Live Updates:

Sensex Index Movers

  • Key Stocks: ONGC, NTPC, Apollo Hospitals, Power Grid, and Coal India were major gainers.
  • Key Losers: BPCL, Dr. Reddy’s Lab, ICICI Bank, SBI Life Insurance, and Shriram Finance.

HCC Gains Over 8%
Hindustan Construction Company (HCC) shares surged over 8% after domestic brokerage Elara Capital initiated coverage with a buy recommendation, setting a target price of Rs 63 per share.

Key Levels to Watch on Nifty Today
“The Nifty Index encountered resistance at higher levels and couldn’t close above the 23300 mark. Immediate support stands in the 23000-22900 zone. A break below this range could trigger aggressive selling,” said Rupak De, Senior Technical Analyst at LKP Securities.

Market Experts’ Insights:

Pre-Open Outlook
Prashanth Tapse, Senior VP (Research) at Mehta Equities, commented that Tuesday brings several positives: early monsoon in Mumbai, continuity with Nirmala Sitharaman as finance minister, record highs for Nifty and Sensex, significant FII and DII purchases, and an optimistic Wall Street with the Fed likely maintaining rates. He anticipates a positive trading bias supported by upcoming economic data releases. He also mentioned that TDP MP Ram Mohan Naidu is the new Civil Aviation Minister. Preferred trades are Nifty at 23100-23150 (targets 23500/23751) and Bank Nifty at 49300-49500 (targets 50100/50701). Bullish stocks include Balkrishna Industries, Bank of Baroda, IEX, and Indigo.

Additional Market Information:

Stocks in F&O Ban Today
Balrampur Chini Mills, SAIL, India Cement, and Zee Entertainment Enterprises were added in F&O on June 11, 2024.

FII and DII Data
Foreign institutional investors (FII) bought shares worth Rs 2,572 crore, while domestic institutional investors (DII) purchased shares worth Rs 2,764 crore on June 10, 2024, according to NSE provisional data.

Crude Oil Update
WTI crude prices were trading at $78.03