03 Jun , 2022 By : monika singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian benchmark indices opened sharply higher tracking relief rally in the US markets overnight and uptick in Asian stocks. The BSE Sensex rose 500 points to 56,320, while the NSE Nifty climbed 150 points to 16,780. In the broader markets, the BSE MidCap and SmallCap indices also opened in green, rising up to 0.8 per cent. Sectorally, Nifty IT soared over 2 per cent following a strong rally in US tech stocks on overnight. Nifty Bank, PSBs, and Pharma were other notable winners. Among the Sensex-30 shares, HCL Tech, Wipro, Infosys, Tech M, Bajaj Finance, TCS, Reliance, and SBI were the top gainers, rising up to 2 per cent. Ultratech Cement, Asian Paints and NTPC, meanwhile, were the sole losers.
Posting 58.9 in May, up from 57.9 in April, the seasonally adjusted S&P Global India Services PMI Business Activity Index indicated the fastest rate of expansion in over 11 years. Anecdotal evidence suggested that the upturn in output reflected better underlying demand and strong inflows of new work.
“Is the ongoing pull back in markets, globally, a bear market rally or the beginning of another bull phase? We will know the answer to this question only later. Meanwhile investors can look at stocks leading the rally now and try to anticipate segments that will join the rally if this uptrend sustains. The sharp upmove in Nasdaq is likely to have a rub on effect on Indian IT stocks too. This beaten-down segment, depressed by shorts and sustained FPI selling, is staging a comeback supported by strong fundamentals. Export segments like textiles are staging a comeback. Financials have strong fundamentals and, therefore, can be expected to join the rally soon.”
Aether Industries shares listed on the BSE and NSE (National Stock Exchange) today at a premium, amid the bullish sentiment on Dalal Street. Shares of the specialty chemicals manufacturer began trading on BSE at Rs 706.15 per share up 9.99% from the upper end of IPO price band of Rs 610-642 per share. On NSE the shares were trading at Rs 704 apiece Aether Industries IPO was fully subscribed by investors earlier last month with qualified institutional buyers (QIB) leading the bidding. On listing, Aether Industries had a market capitalization of Rs 8,790 crore.
Indian benchmark indices opened sharply higher tracking relief rally in the US markets overnight and uptick in Asian stocks. The BSE Sensex rose 500 points to 56,320, while the NSE Nifty climbed 150 points to 16,780. In the broader markets, the BSE MidCap and SmallCap indices also opened in green, rising up to 0.8 per cent.
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