As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 99.08 points or 0.16% to 62,724.71. The Nifty 50 index rose 38.10 points or 0.21% to 18,601.50.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.54% while the S&P BSE Small-Cap index gained 0.72%.

The market breadth was positive. On the BSE, 2,163 shares rose and 1,566 shares fell. A total of 133 shares were unchanged.

Buzzing Index:

The Nifty IT jumped 1.51% to 28,784. The index fell 1.94% in past two trading sessions.

HCL Technologies (up 2.69%), Coforge (up 2.23%), L&T Technology Services (up 2.15%), Infosys (up 2.05%), Persistent Systems (up 1.98%), Mphasis (up 1.98%), LTIMindtree (up 1.58%), Tata Consultancy Services (up 1.17%), Tech Mahindra (up 1.1%) advanced.

Coforge gained 2.23% after the company said that it has partnered with FundMore to develop a platform designed to automate QC, risk management and regulatory compliance in the mortgage industry.

Stocks in Spotlight:

TVS Motor Company rose 0.12%. The 2-wheeler maker said that its subsidiary, TVS Motor (Singapore) Pte, has agreed to acquire an additional 25% stake in Swiss E-Mobility Group (Holding) AG (SEMG), Switzerland by way of purchase of shares from the existing shareholders.

Gujarat Pipavav Port gained 1.38%. The company announced that the operations at Pipavav Port have been suspended since late evening on Saturday, 10 June 2023, as a result of intensifying Cyclone Biparjoy.

Cochin Shipyard rallied 2.63% after the shipbuilding company announced that it has been declared as lowest bidder (L1) by the Indian Navy for an order amounting to Rs 300 crore.

Maharashtra Seamless rose 1.60% after the company announced that it has made voluntary prepayment of outstanding long term loan of approximately Rs 234 crore ($28.38 million).

Som Distilleries & Breweries added 0.54%. The company announced that its flagship beer brand Hunter has emerged as the number one selling brand of strong beer in Delhi for the month of May 2023.

Ambalal Sarabhai Enterprises hit an upper limit of 20% after the company said its subsidiary, Asence Pharma, commenced its new oncology and synthetic API plant at Ranoli, Vadodara in Gujarat.

J.B.Chemicals & Pharmaceuticals declined 0.85%. The company said that its formulations manufacturing facility- T20 located at Panoli, Gujarat was inspected by the United States Food and Drug Administration (USFDA). The inspection was conducted by the US drug regulator from 5 June 2023 to 9 June 2023. At the end of the inspection, the facility received 'No Observations'.

Easy Trip Planners rallied 2.34% after the company became official partner of World Padel League (WPL) 2023. The collaboration between EaseMyTrip and WPL provides comprehensive travel solutions to players, officials and fans attending the highly anticipated WPL.

Global Markets:

Markets in Europe advanced while Asian stocks ended mixed on Monday as investors return from a strong week and look forward to major central bank meetings scheduled ahead. Australia's markets are closed for a holiday.

The U.S. Federal Open Market Committee (FOMC) takes place on June 13-14, the European Central Bank meets on Thursday, and the Bank of Japan's meeting will conclude on Friday.

US indices ended marginally higher on Friday as a Tesla rally failed to galvanize the broader market on the eve of the Federal Reserve's policy meeting and inflation data next week.

Powered by Capital Market - Live News