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POST-MARKET REPORT
Indian benchmark indices closed in the red, breaking their streak of three straight sessions of higher closing, as markets were weighed down by muted global cues.
At close, the NSE Nifty 50 Index fell 0.13 percent or 30.95 points to 23,259.20, while the BSE Sensex declined 0.27 percent or 203.28 points to 76490.08.
Gainers and Losers on Nifty: 19 of the 50 stocks on the Nifty 50 were trading in the red. Tech Mahindra, Infosys, Wipro, Mahindra & Mahindra, and LTIMindtree, were the top drags, while UltraTech Cement, Grasim Industries, Hero MotoCorp., Cipla, and Power Grid Corp., were the top gainers.
Gainers and Losers on Sensex: Nearly half of the 30 stocks on the BSE Sensex were trading in the red. Tech Mahindra, Infosys, Wipro, Mahindra & Mahindra, and Bajaj Finance, were the top drags, while UltraTech Cement, Power Grid Corp., Nestle India, NTPC, and Axis Bank were the top gainers.
Sector Indices today: Barring IT, Metal, and Auto, all other sectoral indices were trading in the green. The IT index was down 1.81%, followed by the Metal index, which was down 0.32%. On the flip side, the Media index had gained the most, followed by Realty and Pharma. Other notable gainers were the Consumer Durables and Healthcare indices.
Broader market indices today: The broader market was outperforming the benchmark indices, with the BSE SmallCap gaining 1.11% and the BSE MidCap climbing 0.65%.
STOCKS TODAY
Heritage Foods: Shares closed 5.2 percent higher after a large deal worth Rs 319.60 crore took place on the exchanges. Around 44 lakh shares, making up a 4.8 percent stake in the company, changed hands on the exchanges in a large deal. The transaction was executed at an average price of Rs 725 apiece, a premium of around 10 percent from the previous close.
Raymond: Shares surged 3.5 percent to a record high after the company’s real estate division declared the preferred developer for a redevelopment project in Bandra, Mumbai. The project is estimated to have a revenue potential of over Rs 2,000 crore.
IRB Infra: Shares slumped 8.5 percent as investors rushed to take home partial profits after the recent surge in the counter. The stock price has risen over 13 percent in the past month, giving investors plenty of headroom to book profits. Rising toll collections and revised toll tariffs are factors lifting sentiment for the stock.
Suzlon Energy: The stock fell 5 percent as an Independent Director at the company Marc Desaedeleer resigned from the directorship of the company with effect from June 8. Desaedeleer, in his resignation letter, said there were several situations where the corporate governance standards applied by Suzlon Energy did not meet his expectations.
Mphasis: Mphasis shares settled lower by 3 percent after a block deal involving 2.95 crore shares, representing a 15.6 percent stake in the firm took place on the exchanges. The transaction was executed at an average price of Rs 2,392 apiece, worth Rs 7,066 crore.
Reliance Infrastructure: The stock surged around 10.9 percent on high volumes. Reliance Velocity Ltd, a subsidiary of the company recently incorporated Reliance EV Pvt Ltd as a wholly-owned subsidiary. The certificate of incorporation was received from the Ministry of Corporate Affairs on June 8, 2024.