Post Market Analysis 07-06-2021

Indian indices –

Sensex and Nifty closed on a positive note today. IT, Banks, Auto, and FMCG sectors pushed the markets to a new high. Broader markets outperformed the benchmarks as the midcap and smallcap indices closed nearly 1% higher each. The Sensex surged by 0.44% or 228.46 points to 52,328.51. The Nifty rose by 0.51% or 81.40 points to 15,751.65.

Stocks in the news –

1. Reliance Infra board approved a plan to raise Rs 550 crore via preferential issue.

2. Yes Bank to consider raising fund via debt securities on June 10

3. MRF Q4 net profit fell by 51.1% YoY to Rs. 332.15 crore

Buzzing stocks on BSE –

1. VA Tech Wabag gained 6.29% to Rs. 299.90, after the company, reported a 52.7% increase in consolidated net profit to Rs. 46.53 crore in Q4 FY21.

2. Welspun Corp rose by 5.38% to Rs. 155.70, after the company was granted a license to manufacture SAWH pipes by the American Petroleum Institute, USA.

3. Yes Bank jumped by 9.76% to Rs. 15.07, after the bank, said that its board will meet on June 10, 2021, to consider raising funds.

Global Signals –

European stocks were slightly higher on June 07, though inflation concerns kept a lid on gains.

Asian markets were mixed at close as the Nikkei hit its highest figure in a month