Sensex Today | Nifty50 Today | Stock Market LIVE Updates | Opening Bell: Nifty Above 24,000, Sensex Extends Gains At Open
Good morning, readers! Welcome to our live market coverage for Wednesday, June 17.
Dalal Street opened today’s session on a positive note after three days of consecutive gains but traders may prefer to remain cautious ahead of key global events.
The Nifty 50 has once again moved beyond the key 24,000 level, while the Sensex is leaning on Tuesday’s strong rally, which points to steady investor confidence.
The Nifty closed just below the 24,000 mark at 23,989 on Tuesday, giving hope that the benchmark may finally cross this psychological level today.
There are certain key factors that market players will focus on. Geopolitical tensions have eased a lot in the past few days; foreign institutional investors are back as buyers and crude oil prices are slipping sharply from recent highs. Together, these developments have helped improve sentiment on Dalal Street.
Interestingly, Wednesday — lying between two weekly expiry sessions — has often been a trend-defining day in recent weeks. Bulls will be hoping that the momentum stays with them. With crude oil prices now almost back to pre-conflict levels, one of the market’s biggest concerns has started to fade.
The early signs are for a subdued start. The GIFT Nifty was trading at 24,003.00, down 22.50 points or 0.09 per cent from its previous close in early trade, indicating a flat opening for Indian equities.
Markets across Asia were trading in a mixed manner. Investors looked for new cues from the world, with Japan’s Nikkei 225 up 0.75 per cent and South Korea’s Kospi down 0.29 per cent.
US equities ended mixed on Wall Street overnight. While the Dow Jones Index recorded an all-time close of 51,999.67 after gaining 328.64 points, the S&P 500 index fell by 0.57%, and the Nasdaq dropped by 1.15%. This was caused by investors taking their gains after buying technology shares. Oil prices traded at a nearly three-month low amid the anticipation of results from US-Iran negotiations on the Strait of Hormuz. Brent was $78.92 and WTI $76.09. In a broader context India gains from such a fall in oil prices. It helps in keeping inflationary pressures under control and decreases the import bill for India.
Stay tuned throughout the day as we bring you the latest market moves, top stock action, expert views and all the key developments driving Dalal Street.
NSE IPO Update: India’s largest stock exchange may finally be about to go public. The National Stock Exchange (NSE) is reportedly set to move a step closer to its much-awaited initial public offering (IPO) with the submission of its Draft Red Herring Prospectus (DRHP) as early as Wednesday, June 17, after years of regulatory hurdles and several delays, as reported by NDTV Profit. The exchange has not yet confirmed the development but several media reports have said the filing could come today. The excitement surrounding the IPO also impacted the shares of rival BSE, which fell as much as 4...
IDBI Bank Share Price: IDBI Bank’s stock basically decided to wake up and start a mini marathon in intraday trade, jumping as much as around 19% at its peak before later easing back to the ₹90–₹91 zone. This came with big volumes too, so it didn’t feel like a slow, quiet drift; it looked more like a proper rush of buyers piling in. The share also swung hard between something like ₹77 and ₹92, so the day’s session turned into a lot more drama than usual.
Read more here.
US-Iran Peace Deal | Strait of Hormuz Reopening: The tentative reopening of the Strait of Hormuz, after some signals that a US–Iran understanding might be forming, has landed as a much-needed breather for the global energy markets, and India is kind of right in the middle of that relief tale. For weeks the shutdown of that small but powerful waterway had thrown almost one-fifth of worldwide oil trading into disorder, and it really jiggled fuel prices, supply chains, and even currency and even stock markets, like a poorly tuned engine that suddenly starts making extra noise. Now, as diplomacy slowly nudges...
Air India’s new ticket option can save passengers money, but there’s a catch. The airline has introduced a new “Basic” fare on selected domestic routes, offering travellers a cheaper ticket if they are willing to give up some of the extras that normally come with a flight, such as a free meal. The move is part of Air India’s broader strategy to provide passengers with more flexibility in how they travel and what they pay for. The new fare may be a draw for budget-conscious flyers, but it’s important for travellers to know exactly what is and isn’t included before...
Elon Musk’s SpaceX Hits $2.85T, Overtakes Amazon: SpaceX has officially zoomed past Amazon to become the world’s fifth most valuable publicly traded company, after a post-IPO rally that sort of shook Wall Street like a rocket launch, shaking the ground. Trading under the ticker SPCX, the aerospace and tech giant rocketed to a huge $2.85 trillion valuation, edging ahead of Amazon at $2.64 trillion, and at one point it even started knocking on Microsoft’s door, just to say hello. The real fuel behind this whole blast-off? A record-setting IPO followed by a bold $60 billion all-stock deal to acquire Anysphere,...