Stock Market News: Headline indices ended in the green on June 11, the 30-share Sensex closed higher by 123.42 points or 0.15 per cent at 82,515.14. The Nifty 50 index also ended 37.15 points or 0.15 per cent higher at 25,141.4. The headline indices closed higher with marginal gains amid easing volatility after the US and China concluded trade talks and came to an agreement. The India VIX index also ended lower by 2.47 per cent on June 11. A decline in the VIX is indicative of decreasing volatility.
IT Stocks Emerge As Top Gainers
Shares of domestic IT companies emerged as top gainers among Nifty 50 stocks. Shares of HCL Technologies Ltd, Infosys, Tech Mahindra and Wipro closed higher by as much as 3.19 per cent. Shares of Shriram Finance, Powergrid Corporation of India Ltd, Bharat Electronics Ltd and Adani Enterprises closed lower by as much as 2.26 per cent on the NSE. The Nifty 50 index saw 28 advances and 22 declines on June 11.
Broader Market Indices Snap Winning Streak
The Nifty IT and the Nifty Oil & Gas rallied the most among the sectoral pack as they ended the session higher by up to 1.47 per cent. On the other hand the Nifty Bank index closed lower by 0.3 pe cent, emerging as the biggest loser among all major sectoral indices. Broader maket indices snapped a winning streak on June 11 as the Nifty SmallCap 100 and the Nifty MidCap 100 ended the session lower by as much as 0.53 per cent.
Global Markets on June 11
On June 10, US markets ended the session marginally higher with the DJIA ending at 42,866.87 up by 105.11 points or 0.25 per cent, the Nasdaq Composite and S&P 500 closing up to 0.63 per cent higher. Following US-China trade talks, Asian markets traded higher on June 12 as the Shanghai Composite, Nikkei 225 and the Hang Seng traded higher by up to 0.84 per cent at the time of writing.
Primary Market Action On June 11
Sacheerome IPO’s three-day bidding window closed on June 11. The company aims to raise Rs 61.62 crore via a fresh issue of 60.41 lakh shares. On the other hand, Ganga Bath Fittings shares made their debut on the NSE SME platform, at Rs 59 apiece with a premium of 20.4 per cent.
Market Cues
Key inflation data for the US economy is expected to be released later today. On the other hand the market is also expected to factor in the impact of the retail inflation data for India for the month of May in the upcoming sessions.
