The benchmark indices ended the day lower, due to weakness in metals stocks and heavyweight Reliance Industries. The Sensex closed at 52501.98, down 271.07 points, or 0.51 percent, at the close. The Nifty ended the day at 15,767.55, up 101.70 points, or 0.64 percent.
On Wednesday's negative market, the equities of metal companies were under pressure. Investors took profits as copper prices fell to a seven-week low, as worries over China's ability to drive up prices prompted a cautious tone in the market. All of the stocks in the Nifty Metal index were in the red. Nifty Bank falls by nearly a percent.
Jubilant FoodWorks' stock rose 5% intraday on the BSE to a new high of Rs 3,331.85 after the business reported a three-fold increase in its consolidated net profit to Rs 105.30 crore for the fourth quarter ended March 2021.
Adani Group companies
Shares of three - Adani Power (Rs 127.25), Adani Transmission (Rs 1,369.35), and Adani Total Gas (Rs 1,394) - were locked in lower circuit for the third day in a row, down 5% each, despite the National Securities Depository Ltd (NSDL) clarifying that the accounts of three foreign funds - holding nearly Rs 43,000 crore worth of Adani group shares - were locked in a lower circuit. Adani Ports and Special Economic Zone Ltd. The stock has dropped 13% in the last five trading sessions, from Rs 874.05 to Rs 761.45. (Jun 8 to Jun 15). Its market capitalization was Rs 1,55,469 crore as of June 15.
Bajaj Auto Ltd
It is a company that manufactures automobiles. The price has dropped 3% in the last five trading sessions, from Rs 4,269.55 to Rs 4,138.05. (Jun 8 to Jun 15). Its market capitalization was Rs 1,19,742 crore as of June 15.
Globus Spirits' stock rose 9% on the BSE in intraday trade on Wednesday, reaching a new high of Rs 459. After reporting a more-than-doubled consolidated profit after tax (PAT) of Rs 50.63 crore in the March quarter (Q4FY21), on the strength of high revenue, the stock has now risen 14% in the last two trading days.
In an otherwise quiet market, Infosys' stock climbed 1% to a new high of Rs 1,484.10 on the BSE in intra-day activity on Wednesday. The shares of the IT behemoth reached its previous high of Rs 1,480 set on April 12, 2021.
The stock of LIC Housing Finance fell 3% in early trade on June 16, a day after the business announced its Q4FY21 earnings.
Brent crude oil prices are likely to test higher levels of USD 78-80, with USD 68-70 acting as support. European markets are trading level, with the FTSE up a smidgeon.
According to a global news wire, the Mumbai bench of the National Company Law Tribunal (NCLT) has questioned the haircut that creditors must accept in the Videocon Industries Limited (VIL) Ltds (VIL) resolution plan.