Stock Market Updates: Sensex up 300 points, Nifty above 15,800; Maruti, M&M top gainers


Indian benchmark indices opened higher on positive global cues. At 09:18 hours, the 30-share BSE index was trading 241 points or 0.46 per cent higher at 52,815.89, and the broader NSE Nifty was up 76 points or 0.49 per cent to 15,822.95.

Maruti Suzuki and M&M were the top gainer in the Sensex pack, advancing over 1 per cent, followed by Indus Ind Bank, Titan and Tata Steel.

On the other hand, HUL, Bajaj Auto, Nestle India and Tech Mahindra were among the losers.

Sensex rebounded from the day’s low to end higher on Monday, led by gains in consumer durables and banking stocks. After crashing over 600 points in early trade, Sensex settled 230 points or 0.44 per cent higher at 52,574. Nifty advanced 63 points or 0.40 per cent to 15,746.

Foreign institutional investors (FIIs) emerged as net sellers as they sold shares worth Rs 1,244.71 crore on June 21, as per provisional data available on the NSE.

Ruchit Jain (Senior Analyst – Technical and Derivatives, Angel Broking) said, “Now, the support base is around 15,500-15,450 range while 15,800 and 15,880 are the immediate resistances. It would be crucial to see the follow up moves in both Nifty as well as Bank Nifty in the next couple of sessions which could lead to the short term direction. Traders are advised to focus on stock specific momentum and avoid aggressive overnight positions.”

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