Share Market News: Domestic benchmark equity indices opened on flat with marginal gains on June 11. The Sensex started 81.3 points or 0.09 per cent higher at 82,473.02. On the other hand the Nifty 50 opened 29.9 points or 0.11 per cent higher at 25,134.15.
The broader markets also made modest gains in early trade as the the Nifty Midcap 100 and the Nifty Smallcap 100 rose up to 0.3 per cent. While all major sectoral indices opened higher, the Nifty Oil & Gas gained the most in early trade as it traded higher by 1.26 per cent in early trade, On the other hand the Nifty Bank and the Nifty IT index traded lower by as much as 0.14 per cent at the time of writing. The India VIX declined on June 11 and traded lower by 1.23 at the time of writing following the conclusion of US and China’s trade talks.
Nifty Gainers And Losers In Early Trade
As many as 27 constituents of the benchmark Nifty advanced in early trade while 23 declined. Shares of Mahindra & Mahindra, Eternal and JSW Steel emerged as early gainers, trading higher by up to 1.28 per cent. On the other hand shares of Bharat Electronics Ltd, Larsen & Toubro and Shriram Finance traded lower by as much as 0.67 per cent and declined the most among Nifty 50 stocks.
US-China Trade Talks Conclude
US and China concluded trade talks on June 10 in London. The two countries have agreed to a “framework” following negotiations. The framework seeks to remove China's export restrictions on rare earths and offer a resolution amid longstanding trade tensions.
On June 10, Wall Street indices ended the session in the green with marginal gains. The DJIA ended the session up by 105.11 points or 0.25 per cent. The Nasdaq Composite and the S&P 500 also ended the session higher by 0.63 and 0.55 per cent respectively.
Following the conclusion of the trade talks Asian markets traded higher in the early hours of June 11. At the time of writing China’s Shanghai Composite index traded around the 3,400.94 level up by 16.12 points or 0.48 per cent. Other Asian indices such as the Hang Seng and the Nikkei 225 also traded in the green in the early hours of June 11, up by as much as 0.65 per cent. South Korea’s KOSPI also traded higher by 0.65 per cent.
Key Commodity Prices On June 11
On June 11, crude oil prices traded lower with the West Texas Intermediate trading around $64.88, down by 0.17 per cent and Brent crude around $66.73 down by 0.21 per cent. The price of gold of 24-carat purity was Rs 97,010 per 10 grams and the price of gold for 22 carat purity was Rs 97,010 per 10 grams. The price of 18-carat gold price was around Rs 72,758 per 10 grams.
