Both Sensex and Nifty dipped during early morning trade today. As of 10:30 am, while Sensex dipped 0.27% to 77,095.86 points, Nifty50 fell 0.57% to 23,422.75 points.
Nifty and Sensex had registered new all-time highs of 23,579.05 and 77,366.77 respectively on Tuesday. Following a promising uptrend rally, the Nifty closed 92 points higher while the Sensex was up 308 points. Among sectors, realty and private bank indices outperformed, with both indices gaining over 1 per cent.
As per Sameet Chavan, Head Research, Technical and Derivative at Angel One, “Traders should wait for a trigger before becoming aggressive with index-specific trades. With a bullish undertone, traders should focus on trades
outside the index, as the real action lies there.”
Action in Vodafone, Airtel
Vodafone Idea and Indus Towers will remain in action today, given that Vodafone’s parent company (Vodafone Group) is all set to divest around 9.94% of its stake in telecom tower operator Indus Towers, via share sale today. Per reports, Bharti Airtel has acquired around 2.69 crore equity shares of Indus Towers, which constitute around 1% of its equity.
While Indus Towers share dipped by 4.59% to Rs 328.75, Bharti Airtel’s share also saw a slight dip of 1.12%, and are currently trading at Rs 1,412.30.
Wipro denies multi-million dollar deal
In a clarification issued to the stock exchange, Wipro noted that the report of the tech major securing a multi-million-dollar deal from Standard Chartered is inaccurate and factually incorrect. Wipro continues to trade at Rs 487.65, down by 0.85%.
ICICI bank allots Employee stock options
Per its NSE filing, ICICI Bank has allotted 6,22,607 equity shares, each with the face value of Rs. 2, on June 19, 2024 under the ICICI Bank Employees Stock Option Scheme-2000. The bank’s stock jumped by 1.28% and is trading at Rs 1,137.25
Aditya Birla acquires minority stake in USPL
In an all-cash deal, Aditya Birla Digital Fashion Ventures Limited (ABDFVL) has acquired a 16% minority stake in Universal Sportsbiz Private Limited (USPL). Per the filings, the aim is to acquire a majority stake in the company, manufacturing and distributing fashion apparels and accessories under the brand name “Wrogn”.
Shares of Aditya Birla Fashion and Retail, ABDFVLs parent company is trading at Rs 324.70, down 1.75%
Tata Motors to raise vehicle prices
Tata Motors Limited is set to increase the prices of its commercial vehicles starting July, 2024. Following the news, the stock dipped by 0.27%, and is trading at Rs 983.2
