The stock market started the first trading day of the third week of the month with weakness. Today the stock market opened with a downward trend. The Bombay Stock Exchange’s 30-share sensitive index Sensex opened 110 points down at 33671 levels, while the National Stock Exchange’s Nifty also started trading at 9,919.35 with a red mark today. Last week, the BSE 30-share Sensex lost 506.35 points or 1.47 percent.
Talking about Nifty Top Gainer, Zee Limited, Doc Reddy, Wipro, Infosys, Eicher Motors are the major stocks which are on the green mark. At the same time, heavyweights like JSW Steel, Tata Steel, IndusInd Bank, ICICI Bank are in loss.
Foreign investors gain confidence
Foreign portfolio investors (FPIs) have infused a net amount of Rs 20,574 crore in Indian capital markets so far in June, with capital inflows rising due to better liquidity position in emerging markets of the world. According to the latest depository data, between June 1 and June 12, FPIs infused Rs 22,840 crore in the stock markets.
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Listing of rights shares of RIL today
Today, Reliance’s rights shares will be listed. The country’s largest rights issue was 1.59 times full. The retail share was 1.22 times. Mukesh Ambani has the highest stake in RIL in 12 years. These listings can be between Rs 600-650.
Quarterly results of big companies like Tata Motors, Bank of Maharashtra, City Union Bank, LIC Housing Finance and Oil India are due this week. Jaimit Modi, founder and CEO of SAMCO Securities and Stocknote, said quarterly results of major public banks are awaited. However, they can spoil the mood of the market.