Share Market update: Sensex rises 934 pts, Nifty ends above 15,600; SBI, Titan top gainers

The Indian market opened higher today. Sensex climbed 415 points to 52,013 and Nifty gained 128 points to 15,478. On Monday, Indian market snapped six days of gaining streak amid positive global cues. Sensex climbed 237 points to settle at 51,597 and Nifty gained 56 points to close at 15,350. HDFC, HUL, UltraTech Cement, Asian Paints, and HDFC Bank were the top Sensex gainers, rising up to 3.97 per cent.

Here's a look at live market updates today.

3:35 pm: Market ends in green

Sensex rises 934  points to 52,532 and Nifty surges 288 points to 15,638 on June 21.

2:42 pm: Sensex zooms 1,100 points

Sensex rises 1,128  points to 52,726 and Nifty surges 336 points to 15,686 in the late afternoon trade. 

2:05 PM: 55% of BSE 500 stocks are in bear grip; analysts share these tips to make money from equity market

Lingering concern over rising inflation, fear of aggressive rate hikes by global central banks and heavy outflows by foreign institutional investors (FIIs) have dragged the BSE Sensex down by more than 16 per cent since October 19 last year, when the benchmark equity index scaled its fresh all-time high.

As a result, as many as 275 stocks in the BSE 500 index plunged over 20 per cent during the same period. Theoretically, a stock is said to have entered the bear's grip when it tanks 20 per cent or more from its peak. With a fall of 70 per cent, Dilip Buildcon is the biggest loser on the list. It was followed by HEG (down 63 per cent), Indiabulls Housing Finance (down 63 per cent), Indiabulls Real Estate (down 62 per cent) and Sequent Scientific (down 60 per cent).Read More

1:30 pm: Vodafone Idea rises 4% ahead of board meet to raise funds

Shares of Vodafone Idea gained over 4 per cent today as the board of the telco is scheduled to meet on June 22, to consider and approve a proposal for raising funds to the tune of Rs 500 crore. Vodafone Idea share touched an intraday high of Rs 8.33, rising 4.28 per cent on BSE.

The telecom stock has gained after 3 days of consecutive fall. READ MORE

12:56 pm: Market update

Sensex climbed 991 points to 52,589  and Nifty gained 296 points to 15,647  in trade today.

12:49 pm: Reliance Industries stock in the green

Shares of RIL were trading in the green in the afternoon session today even as Securities and Exchange Board of India (SEBI) imposed a monetary penalty of Rs 30 lakh on Reliance Industries and its compliance officers - Savithri Parekh and K Sethuraman - for alleged delay in disclosing information related to Facebook, Silver Lake and Vista Equity Partners buying stake in Jio Platforms. According to the capital markets regulator, even while there was much news flow regarding Facebook purchasing a 9.99 per cent stake in Jio Platforms, the company formally made an announcement only on April 22, 2020.

RIL stock rose 0.46 per cent to Rs 2,554 against the previous close of Rs 2542.80 on BSE.

12:40 PM: LIC stock: What brokerages, analysts expect from the insurance behemoth

Shares of Life Insurance Corporation (LIC) rose in early trade today amid positive broader markets. The stock rose 1.52 per cent or Rs 10.1 intraday to Rs 671.35 on BSE. The market capitalisation of the public sector insurer climbed to Rs 4.14 lakh crore today. A total of 0.41 lakh shares of the firm changed hands amounting to a turnover of Rs 2.72 crore on BSE.READ MORE

12:15 pm: Is it a 'dead cat bounce' or another round of rally ahead? Here's what analysts have to say

Domestic equity markets extended their gains for the second straight session on Tuesday following positive Asian cues. Some support also came with the southwest monsoon entering Madhya Pradesh, Chhattisgarh, coastal Andhra Pradesh, Odisha, West Bengal, Jharkhand and Bihar on Monday, cumulative rainfall deficiency so far has been reduced to 5 per cent from 25 per cent reported on June 16. READ MORE

11:30 AM: Zerodha’s trading platform Kite faces connectivity issues; users vent out on Twitter

Online brokerage Zerodha reported connectivity issues on its flagship trading platform Kite via Cloudflare network on certain Internet service providers (ISPs). Zerodha confirmed the development in a tweet. It wrote, “We are getting reports of intermittent connectivity issues on Kite via the Cloudflare network for users on certain ISPs. In the meanwhile, please try using an alternate Internet connection.” Read More

11:00 am: Tata Steel stock falls 60% from April high: Should you buy the dip?

Shares of Tata Steel have plunged 60 per cent in over two months, leaving investors guessing that what direction the stock of the Tata Group firm will take amid a highly volatile market. The stock which hit an intraday high of Rs 1,386.25 on April 6 is currently trading at Rs 867.05, translating into a decline of 59.88 per cent during the period.

The large cap stock touched an intraday high of Rs 882, rising 2.42 per cent on BSE. Tata Steel shares are trading lower than 5-day, 20-day, 50-day, 100-day and 200-day moving averages. READ MORE

9:47 am: Expert take

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "A distinct trend in the market now is the weakness in the broader market. While Nifty50 is down 5.6 percent during the last one month, Nifty Mid and Small- cap indices are down 9.25 percent and 12.63 percent respectively during the same period. This trend is likely to continue as long as the market remains weak. The pull back rally will be led by high-quality fundamentally strong large-caps.

Meanwhile, the Finance ministry's latest Monthly Economic Review warns about the stress in government's finances caused by the rising food and fertiliser subsidies and revenue forgone from cuts in petrol and diesel taxes. Both  fiscal and current account deficits are likely to deteriorate surpassing budget estimates. This macro headwind can turn out to be a headwind for markets too, particularly if crude remains at elevated levels. Investors should seek the safety of fundamentally strong large-caps during this phase of market turbulence."

9:35 am: Sensex gainers

Titan Company, Dr Reddy's Labs, Infosys, TCS and HCL Tech were the top Sensex gainers, rising up to 3.16 per cent.

9:29 am: Expert take

Mohit Nigam, Head - PMS, Hem Securities 

"The Asian markets are trading mostly higher on Tuesday as investors overlooked persistent concerns about aggressive hikes in COVID-era rates and their impact on economic growth. On the technical front, immediate support and resistance for Nifty50 is15,200 and 15,600 levels. In case of Bank Nifty, 32,300 may act as immediate support and 33,150 may act as immediate resistance level."

9:19 am: Sensex climbed 415 points to 52,013 and Nifty gained 128 points to 15,478.

8:35 am: Expert take

Om Mehra, Research Associate, Choice Broking

"The Nifty may find support around 15,120 followed by 15050 levels while on the upside 15750 may act as an immediate hurdle. On the other hand, Bank nifty has support at 32000 levels while resistance is placed at 33550 levels. Overall, some sectors may bounce on a rotation basis; however, sell on the rise would be advisable in coming days until 15,800 levels are attained."

8:20 am: SGX Nifty

The Indian market is likely to open higher today as SGX Nifty rose 53 points to 15,415. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Monday

Indian equity market snapped six days of gaining streak on Monday amid positive global cues. Sensex climbed 237 points to settle at 51,597 and Nifty gained 56 points to close at 15,350. HDFC, HUL, UltraTech Cement, Asian Paints, and HDFC Bank were the top Sensex gainers, rising up to 3.97 per cent. Tata Steel, IndusInd Bank, NTPC and RIL were among the top Sensex losers, falling up to 5.03 per cent in the previous session.