Sensex, Nifty clock modest gains in early trade; breadth strong

30 Jun 2022 , 09:30 AM

The key equity indices traded with modest gains in the early trade. The Nifty traded above the 15,850 level. Barring the Nifty Auto Index, all other sectoral indices on the NSE were trading in the red. Trading is expected to be volatile due to expiry of weekly as well as monthly index options on the NSE. At 09:23 IST, the barometer index, the S&P BSE Sensex, was up 198.62 points or 0.37% to 53,225.59. The Nifty 50 index rose 62.90 points or 0.40% to 15,862. In the broader market, the S&P BSE Mid-Cap index rose 0.22% while the S&P BSE Small-Cap index added 0.68%. The market breadth was strong. On the BSE, 1,758 shares rose and 539 shares fell. A total of 86 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 851.06 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 847.46 crore in the Indian equity market on 29 June, provisional data showed. Stocks in Spotlight: Infosys rose 0.64%. The IT major has agreed with The House Fund III, L.P., a Venture Capital (VC) fund based out of the US, for investment of $10 million. Infosys seeks to partner with such startups to complement its organic capabilities and jointly help its clients across the globe to transform their businesses. Indian Oil Corporation advanced 2.73%. The companys board has accorded investment approval for capacity expansion of Digboi Refinery in Assam from 0.65 MMTPA to 1 MMTPA alongwith associated facilities at an estimated cost of Rs.740.20 crore. The project is expected to be commissioned by October 2025. Sterlite Technologies (STL) rose 0.17%. The company has signed the definitive agreement to acquire balance 25% stake in Jiangsu Sterlite Tongguang Fiber Co. Ltd. (JSTFCL). STLs current shareholding in JSTFCL is 75%. Post acquisition of balance 25% stake, JSTFCL will become a wholly owned subsidiary of STL. Global markets: Asian stocks were trading mixed on Thursday as investors weighed signs of gradual improvement in Chinas economy and comments from central bank chiefs on tackling persistent price pressures. In economic news, Chinas official manufacturing Purchasing Managers Index for June was at 50.2. Stock indexes on Wall Street ended mostly lower in the overnight session after another choppy day of trading. On Wednesday, Federal Reserve Bank of Cleveland President Loretta Mester said she will advocate for a 75 basis point hike to interest rates at the central banks July meeting if economic conditions remain the same by then. Powered by Capital Market – Live News