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Indian equity indices ended lower on the third consecutive session on June 3. Weak global cues, including slowing macroeconomic growth and rising geopolitical concerns, weighed on investor sentiment.
At close, the Sensex was down 636.24 points or 0.78 percent at 80,737.51, and the Nifty was down 174.10 points or 0.70 percent at 24,542.50. About 1701 shares advanced, 2148 shares declined, and 134 shares remained unchanged.
Adani Ports, Bajaj Finserv, Adani Enterprises, Coal India, and Power Grid were among the major losers on the Nifty, while gainers included Grasim Industries, Shriram Finance, M&M, Bajaj Auto, and Cipla.
Among sectors, realty index rose 1 percent, while bank, capital goods, consumer durables, IT, oil & gas, power, private bank, and PSU bank indices were down 0.5-1 percent.
Among the broader indices BSE Midcap index shed 0.5 percent, while smallcap index ended flat.
STOCKS TODAY
Ola Electric
Pure-play EV two-wheeler Ola Electric Mobility Ltd shares sank over eight percent after a large block deal involving shares worth Rs 731 crore took place. Around 14.22 crore shares, which amount to 3.23 percent equity, exchanged hands at Rs 51.4 per share. This implies a discount from the previous session’s closing price of Rs 53.68 apiece.
Zinka Logistics
Shares of Zinka Logistics Solutions staged a sharp rebound on Tuesday, June 3, erasing early losses of over 4 percent to trade nearly 2 percent higher in today’s session. The recovery came after a hefty block deal worth Rs 692 crore, in which nearly 9.22 percent of the company’s equity, or around 1.63 crore shares, changed hands at Rs 423 apiece.
YES Bank
The shares of Yes Bank tumbled over 10 percent on June 3 after a large block deal involving a 3 percent equity stake in the company reportedly took place. The shares of the private lender closed at Rs 20.95 per share at closing, snapping a three-day gaining streak.
Indoco Remedies
The share price rose as much as 8 percent after the company announced that it has secured final approval of Allopurinol Tablets USP, 200 mg through Company’s Abbreviated New Drug Application (ANDA) for Allopurinol Tablets USP to market a generic equivalent to the reference listed drug (RLD), Zyloprim 200 mg of Casper Pharma LLC from USFDA.
Sansera Engineering
Shares rose 2 percent after the company announced it had signed a Rs 160 crore contract with Airbus Defence and Space to supply airborne intensive care transport modules (ICTM). This marks the first time Airbus has chosen an Indian supplier for these critical medevac systems. Under the agreement, Sansera will be responsible for precision machining and structural assembly of the modules.
Servotech Renewable
The shares of Servotech Renewable surged nearly 16 percent on June 3 despite the overall downturn in the market. This comes amid the India visit of Errol Musk, the firm’s global advisor and father of the world’s richest person, Elon Musk.
Source – Money Control
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