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Sensex Ends 359 Points Higher; Bajaj Finance and Bajaj Finserv Among Top Nifty Gainers
Thu, 10 Jun Closing | Nandini Mehta, TM Team

Indian share markets witnessed positive trading activity throughout the day today and ended higher.

Benchmark indices edged higher in today's session amid firm cues from Asian peers, ahead of key US inflation data release.

At the closing bell, the BSE Sensex stood higher by 359 points (up 0.7%).

Meanwhile, the NSE Nifty closed higher by 102 points (up 0.7%).

Bajaj Finance and Bajaj Finserv were among the top gainers today.

ITC and Bajaj Auto, on the other hand, were among the top losers today.

The SGX Nifty was trading at 15,764, up by 92 points, at the time of writing.

The BSE MidCap index and the BSE SmallCap index ended up by 1.3% and 1.7%, respectively.

Sectoral indices ended on a positive note with stocks in the healthcare sector, finance sector and telecom sector witnessing most of the buying interest.

Auto stocks, on the other hand, witnessed selling pressure.

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Shares of Quess Corp and Bajaj Finance hit their respective 52-week highs today.

Asian stock markets ended on a positive note today as investors focused on US inflation data, which could shed light on the Federal Reserve's future course on liquidity.

The Hang Seng ended on a flat note today, while the Shanghai Composite ended up by 0.5%.

The Nikkei ended up by 0.3% in today's session.

US stock futures are trading on a positive note today with the Dow Futures trading up by 74 points.

The rupee is trading at 73.05 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.5% at Rs 48,883 per 10 grams.

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani explains why the stock market fell the way it did on Wednesday, 9 June, in his latest video for Fast Profits Daily.

Tune in to the video below to find out more:

In news from the IT sector, Accelya Kale Solutions was among the top buzzing stocks today.

Shares of Accelya Kale Solutions India hit a 52-week high of Rs 1,232 as they rallied 13% on the BSE today, bouncing back more than 20% from the day's low of Rs 1,020 on receiving a good response from non-retail investors for the offer for sale (OFS).

According to BSE data, the non-retail portion of Accelya OFS was subscribed fully or 102%, with cumulative bids of 2 m shares received against reserved 1.96 m shares.

Accelya announced an OFS of 2.2 m shares (14.6% of paid-up capital), with a floor price set at Rs 910 per share.

A total of 10% of the share sale has been reserved for retail investors.

The OFS opened for non-retail investors today and will open for retail investors on Friday.

The unsubscribed portion of the sale shares reserved for retail investors shall be available for allocation to the investors in the non-retail category, Accelya said in a notice to shareholders.

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The OFS segment earlier allowed only promoter or promoter group entities of listed companies to act as 'sellers' to dilute/offload their holding to achieve a minimum public shareholding of 25%.

As of 31 March 2021, Accelya promoters, Accelya Holding World (74.7%) and Aurora Uk Bidco (14.6%), collectively held an 89.3% stake in the company.

Accelya is a leading global provider of technology platforms, software and services to the travel and transport industry.

Accelya Kale Solutions share price ended the day up by 10.5% on the BSE.

Speaking of the current stock market scenario, note that the BSE Smallcap index touched life-time high recently.

Despite the index being up more than 157% since the March 2020 lows, Richa Agarwal, lead Smallcap Analyst at Equitymaster, believes smallcap stocks are set for a massive up move in 2021 and beyond.

BREAKING: It's Good Time to Invest in Gold, but Just Don't Go Blindfolded

Here's why...

As per Richa, the smallcap to Sensex ratio is a good metric to gauge while coming to some conclusions about relative valuations.

So, what is this indicator suggesting now?

As you can see from the chart below, the ratio currently stands at 0.46 times, as compared to long term average of 0.43 times.

Here's what she wrote about it in a recent edition of Profit Hunter:

  • In the last one year, the smallcaps have done well to cover the gaps with the large peers.

    But it could be premature to call this a peak.

    In the previous two rounds, the average ratio has been 0.57, suggesting more upside from these levels.

Richa believes if you focus on the quality of business, margin of safety in valuations, and an optimum asset allocation, you are likely to create huge wealth for yourself.

In other news from the IT sector, Wipro said its step-down subsidiary, Wipro IT Services, has approved a proposal for issuing US dollar denominated notes of up to US$ 750 m.

The net proceeds of the notes, which are proposed to be listed on the Singapore stock exchange, are intended to be utilised for refinancing the existing debt and general corporate purposes, a regulatory filing said.

The notes will be guaranteed by Wipro vide a corporate guarantee, it said.

In a statement, Wipro said, "The board of directors of the company, at their meeting held on 9 June 2021, granted its approval to 'unconditionally and irrevocably' guarantee the due and prompt payment of the principal and interest and any additional amount payable in respect of the notes, as and when the same shall become and payable."

The guarantee is subject to the aggregate liability of the company not exceeding US$ 865 m (115% of the principal amount of the notes), it added.

We will keep you posted on more updates from this space. Stay tuned!

Wipro share price ended the day up by 1.8% on the BSE.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


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Stock Market Updates

Sensex Rises Over 100 Points, Dow Futures Trade Flat (Today's Market)

Jun 11, 2021 12:30 pm

BSE Sensex is trading up by 187 points, while the NSE Nifty is trading up by 36 points.

CIPLA at All Time High; BSE HEALTHCARE Index Up 0.3% (Today's Market)

Jun 11, 2021 11:20 AM

CIPLA share price has hit an all time high at Rs 982 (down 0.3%). The BSE HEALTHCARE Index is up by 0.3%. Among the top gainers in the BSE HEALTHCARE Index today are CIPLA (down 0.4%) and SANOFI INDIA (up 0.4%). The top losers include ERIS LIFESCIENCES and IPCA LABS (down 0.1%).

MPHASIS Share Price Up by 5%; BSE IT Index Up 0.8% (Today's Market)

Jun 11, 2021 10:30 AM

MPHASIS share price is trading up by 5% and its current market price is Rs 2,069. The BSE IT is up by 0.8%. The top gainers in the BSE IT Index are MPHASIS (up 5.0%) and ECLERX SERVICES (up 20.0%). The top losers are WIPRO (down 0.4%) and FIRSTSOURCE SOLUTIONS (down 3.6%).

WIPRO at All Time High; BSE IT Index Up 0.5% (Today's Market)

Jun 11, 2021 09:44 AM

WIPRO share price has hit an all time high at Rs 556 (down 0.3%). The BSE IT Index is up by 0.5%. Among the top gainers in the BSE IT Index today are WIPRO (down 1.2%) and L&T INFOTECH (up 1.2%). The top losers include HEXAWARE TECHNOLOGIES and PERSISTENT SYSTEMS (down 0.2%).

CIPLA at All Time High; BSE HEALTHCARE Index Up 0.3% (Today's Market)

Jun 11, 2021 09:44 AM

CIPLA share price has hit an all time high at Rs 979 (up 0.3%). The BSE HEALTHCARE Index is up by 0.3%. Among the top gainers in the BSE HEALTHCARE Index today are CIPLA (up 0.3%) and ABBOTT INDIA (up 0.2%). The top losers include SUN PHARMA ADV. RES. (down 0.1%) and WOCKHARDT (down 0.1%).

Sensex Opens 250 Points Higher; Coal India & Power Grid Top Gainers (Today's Market)

Jun 11, 2021 09:30 am

Indian share markets open higher. The BSE Sensex opened up by 248 points, while the Nifty is trading higher by 75 points.

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