Market closes higher on easing crude oil prices
By Trendlyne Analysis

 

 

Nifty 50 closed at 24,056 (34.4, 0.1%), BSE Sensex closed at 77,100.47 (109.3, 0.1%) while the broader Nifty 500 closed at 23,113.70 (-12.6, -0.1%). Market breadth is moving down. Of the 2,765 stocks traded today, 865 were on the uptick, and 1,842 were down.

Indian indices closed higher as crude oil prices fell to pre-Middle East war levels. The Indian volatility index, Nifty VIX, fell 2.5% and closed at 13.1 points. Embassy Developments closed higher after it signed an MoU with the Uttar Pradesh Government for a Rs 1,500 crore investment to build a commercial real estate in Lucknow.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. Nifty Metal and Nifty CPSE are among the top index losers today. According to Trendlyne’s sector dashboard, Metals & Mining emerged as the worst-performing sector of the day, with a fall of 1.6%.

Asian markets closed mixed. European markets traded higher. US index futures traded higher. Nasdaq futures led gains after strong results from Micron Technology and upbeat forecasts from Qualcomm revived optimism around AI-related demand. Meanwhile, investors await the US PCE inflation report due later today for cues on the Federal Reserve’s interest rate path. Brent crude oil futures are trading lower after falling 3.8% on Wednesday.

  • Money Flow Index (MFI) indicates that stocks like Aegis Logistics, RR Kabel and Syrma SGS Technology are in the overbought zone.

  • RHI Magnesita India's board of directors approves forming a joint venture (JV) with Khemka Refractories to establish a refractory recycling facility in Odisha and enhance its circular business models.

  • ONGC signs a technical services contract with BP to enhance production from its fields in the Western Offshore Basin.

  • Viyash Scientific projects revenue to grow at a 19.5% CAGR to $1 bn by FY32, led by product development, market expansion and acquisitions.

  • Apeejay Surrendra MD Vijay Dewan projects for double-digit revenue growth to continue in FY27, driven by a strong demand-supply mismatch. He also expects a 200-300 bps margin improvement during the year, with a sales pipeline of up to Rs 650 crore.

  • Tata Chemicals rises after the RBI's revised NBFC framework increases the likelihood of a stock market listing for Tata Sons. Under the new rules, NBFCs with assets exceeding Rs 1 lakh crore are required to list. Investors view a potential Tata Sons listing as a value-unlocking catalyst for Tata Chemicals, which holds a 3% stake in the unlisted holding company.

  • Auto stocks like Maruti Suzuki India, TVS Motor Co and Mahindra & Mahindra are rising sharply, driven by a decline in crude oil prices amid easing tensions in West Asia. The broader Nifty Auto index soars almost 3%.

  • Dixon Technologies is rising as JM Financial upgrades it to a 'Buy' call from 'Add', with a higher target price of Rs 14,200 per share. This indicates a potential upside of 16.1%. The brokerage believes that the company is on track to achieve its FY27 smartphone volume guidance of around 33 million units, excluding Vivo volumes. It also expects the company's information technology and telecommunications equipment businesses to support growth over the coming years.

  • Agriculture Commissioner P.K. Singh says India has prepared district-level contingency plans to manage rainfall uncertainty, despite a 40% rainfall deficit so far this monsoon. He says improved irrigation infrastructure, healthy rice and wheat stocks, and contingency measures will help minimise any impact on crop production, with imports considered if required. 

  • Gold financiers like Muthoot Finance, Manappuram Finance, and IIFL Finance are falling as gold prices drop due to fears that high inflation could lead to rate hikes by the US Federal Reserve and a stronger US dollar.

  • Suzlon Energy secures a 400 MW wind energy order from Tata Power Renewable Energy (TPREL), taking their cumulative partnership to over 1 GW across four states. The project involves supplying 127 wind turbine generators in Anantapur, Andhra Pradesh, along with comprehensive EPC services.

  • Standard Engineering Technology soars to its 52-week high of Rs 236 per share as its board of directors approves the acquisition of a 51% stake in GScale Energy for Rs 190 crore. The acquisition will help the company to enter the high-growth AI infrastructure and data centre engineering sector.

  • The RBI classifies NBFCs with assets above Rs 1 lakh crore as Upper-Layer entities, bringing stricter oversight. It also withdraws concentration-risk exemptions for government-owned NBFCs, placing them under the same exposure norms as peers. The revised rules take effect immediately, while infrastructure finance companies get higher exposure limits and exemptions for some state-backed exposures. 

  • Shadowfax Technologies is falling as Mirae Asset Late Stage Opportunities Fund sells 56.5 lakh shares for Rs 119.8 crore through a bulk deal at an average price of Rs 212 per share.

  • Rajesh Exports plunges to its 5% lower circuit as the Enforcement Directorate (ED) reportedly alleges violations of the Foreign Exchange Management Act (FEMA). The agency alleges missing foreign transaction records and stock discrepancies.

  • ICICI Bank is rising as it receives RBI approval to acquire an additional stake of up to 2% in ICICI Prudential Life Insurance.

  • S&P Global forecasts India's FY27 GDP growth at 6.6%, citing energy-related stress, a below-normal monsoon, and slowing global growth. The agency expects consumer inflation to rise 5.1% in FY27 as higher energy costs and fuel price increases feed through to the economy. S&P also expects the RBI to raise the repo rate by 25 basis points in H2FY27 amid rising inflationary pressures. 

  • Equitas Small Finance Bank's board of directors approves a Rs 1,750 crore fundraise through a qualified institutional placement (QIP) of equity shares and issuance of non-convertible debentures (NCDs).

  • Lodha Developers is rising as around 2 crore shares (~2% stake), worth approximately Rs 1,864.6 crore, reportedly change hands in a block deal.

  • Route Mobile reports a cybersecurity incident at its step-down wholly owned South American subsidiary, Masivian S.A.S., affecting certain systems and customers in Colombia.

  • Airline stocks like InterGlobe Aviation and SpiceJet are rising sharply as Brent crude prices fall below the pre-West Asia war levels of $73 per barrel.

  • Actis Pine Labs Investment Holdings sells 2.3 crore shares of Pine Labs for Rs 370.9 crore through a bulk deal at an average price of Rs 155.2 per share. Axis Mutual Fund picks up the shares.

  • Sterlite Technologies soars to its 5% upper circuit as its board of directors approves a fundraise through a qualified institutional placement (QIP) of equity shares at a floor price of Rs 613.7 per share.

  • Apar Industries' board of directors schedules a meeting on June 30 to consider a proposal for a fundraise by issuing equity or other securities.

  • Embassy Developments signs a memorandum of understanding (MoU) with Uttar Pradesh Government for a Rs 1,500 crore investment to develop 2.5-3 mn sq ft of commercial real estate.

  • Nifty 50 was trading at 24,131.35 (109.7, 0.5%), BSE Sensex was trading at 77,321.47 (330.3, 0.4%), while the broader Nifty 500 was trading at 23,221.05 (94.8, 0.4%).

  • Market breadth is in the green. Of the 2,177 stocks traded today, 1,363 were in the positive territory, and 723 were negative.

Riding High:

Largecap and midcap gainers today include Mahindra & Mahindra Financial Services Ltd. (328.55, 5.7%), Tata Motors Ltd. (431.90, 5.0%) and Samvardhana Motherson International Ltd. (151.71, 4.9%).

Downers:

Largecap and midcap losers today include Hindustan Zinc Ltd. (518.05, -4.4%), Supreme Industries Ltd. (3,421.90, -3.9%) and Tube Investments of India Ltd. (3,054, -3.7%).

Volume Rockets

19 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Motherson Sumi Wiring India Ltd. (41.26, 9.1%), Aegis Logistics Ltd. (1,140.65, 7.3%) and Samvardhana Motherson International Ltd. (151.71, 4.9%).

Top high volume losers on BSE were Bandhan Bank Ltd. (201.76, -4.7%), Supreme Industries Ltd. (3,421.90, -3.9%) and Oil And Natural Gas Corporation Ltd. (233.10, -2.9%).

Tata Chemicals Ltd. (746.20, 2.5%) was trading at 18.1 times of weekly average. India Cements Ltd. (383.85, 0.5%) and Honasa Consumer Ltd. (417.70, 0.4%) were trading with volumes 11.1 and 5.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

19 stocks made 52 week highs, while 1 stock hit their 52 week lows.

Stocks touching their year highs included - Aegis Logistics Ltd. (1,140.65, 7.3%), Apollo Hospitals Enterprise Ltd. (8,592, 0.2%) and Aurobindo Pharma Ltd. (1,555.20, 1.6%).

Stock making new 52 weeks lows included - Birlasoft Ltd. (300.70, -2.3%).

17 stocks climbed above their 200 day SMA including Mahindra & Mahindra Financial Services Ltd. (328.55, 5.7%) and InterGlobe Aviation Ltd. (5,450, 4.7%). 18 stocks slipped below their 200 SMA including Finolex Industries Ltd. (176.25, -4.0%) and Astral Ltd. (1,486.90, -3.2%).

More from Trendlyne Marketwatch
More from Trendlyne Analysis
Recommended