Tuesday, 18 June 2024
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Stock Market

Nifty Bank, Midcap, and Sensex all reached record highs

  • Asian stocks moved gingerly, with Hong Kong and Australian shares slightly rising.
  • and Bajaj Finance has increased FD rates for the majority of tenures by as much as 60 basis points.
  • The 30-share BSE Sensex increased 273.65 points to 74,957.35, while the NSE Nifty gained 83.85 points to 22,726.60.

Ahead of important inflation statistics, Asian stocks moved gingerly, with Hong Kong and Australian shares slightly rising. After the S&P 500 fell as much as 0.8%, contracts for US equities remained stable, but Japanese stocks plunged.

According to Andrew Brenner of NatAlliance Securities, the CPI is the key statistic this week, and the Fed is worried that it will continue to be a pain in the ass.

Asian stocks

A wholly-owned subsidiary of PB Fintech, PB Pay, has been created, and Bajaj Finance has increased FD rates for the majority of tenures by as much as 60 basis points. After recording its largest-ever monthly export in March, Vinati Organics soars 3%, and the price of Avenue Supermart’s shares reaches a 52-week high.

Finolex Industries sold Terravista Developers Pvt Ltd in Pimpri, near Pune, the leasing rights to 25 acres of land for ₹470 crore, while Exide Industries signed into a deal to acquire a 26% ownership investment in Clean Max Arcadia.

In early trading, benchmark equity indices saw a rise. The 30-share BSE Sensex increased 273.65 points to 74,957.35, while the NSE Nifty gained 83.85 points to 22,726.60. The top gainers were Hindalco Industries, HDFC Bank, UltraTech Cement, and Wipro; the bottom losers were Tata Steel, JSW Steel, and Hindalco Industries.

Because of the recent uptick in global manufacturing activity in the US and China, Jefferies maintained his bullish position on Indian metal businesses. The noteworthy increase in manufacturing activity reported by the US and China, two of the world’s largest consumers of metal, was credited with contributing to the good sentiment in metal stocks.

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