Buzzing Stocks: Oil India, Yes Bank, Godrej Properties and other stocks in news today
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BSE Oil & Gas index rose 1 percent; all stocks in the green:
FY22 GDP growth projected at 8.5%: ICRA
Ratings agency ICRA on June 10 said that it expects India's GDP to grow at 8.5 percent in FY22. ICRA had earlier estimated the GDP to grow at 10-11 percent rate; however, it had later revised it down to 10-10.5 percent.
Asian Markets Update:
U.S. bond yields fell to three month lows and a broad gauge of Asian shares rose on Friday as investors saw enough one-off factors in U.S. consumer price data to back the Federal Reserve’s conviction that rising inflation will be transitory.
Nifty Metal index added 1 percent led by the Coal India, APL Apollo, SAIL
Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services:
The further direction of the domestic markets would depend on the monsoon, opening up of the economy in a phased manner and the pace of vaccination going forward. As states ease restrictions gradually in Jun’21, we expect the demand environment to get better which can have a positive impact on the markets. Technically too, Nifty remain in a positive set up and can see a move towards highs of 16000 zones.
Also with many states starting to ease restrictions gradually, we expect the demand environment to improve and the unlock trade to play out well in Jun’21. On the global front US CPI data could decide the market direction as any sign of stimulus tapering by Fed could affect the liquidity in the market.
Gainers and Losers on the BSE Sensex
Market Opens: Benchmark indices opened at fresh record high on June 11 with Nifty above 15800.
The Sensex was up 228.01 points or 0.44% at 52528.48, and the Nifty was up 73.20 points or 0.47% at 15811.00. About 1667 shares have advanced, 294 shares declined, and 47 shares are unchanged.
ICICI Direct
Indian markets are likely to open flat to positive tracking mixed global cues as US inflation grew higher than expected in May (5% QoQ) while US unemployment showed a modest decline. US markets ended higher despite release of macroeconomic data reporting higher-than-expected increase in consumer prices.
Market at pre-open: Benchmark indices are trading higher in the pre-opening session amid mixed global ceus.
At 09:02 IST, the Sensex was up 222.67 points or 0.43% at 52523.14, and the Nifty was up 58.20 points or 0.37% at 15796.00.
Market LIVE Updates: Sensex, Nifty at record highs; metal stocks in focus - Moneycontrol.com
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