Equity Funds See Third Straight Month Of Net Inflows In May; Here’s What Lured Investors
May was the third consecutive month of net inflows in equity funds as DIIs and retail investors kept the market buoyant even though FIIs turned net sellers in April and May.
Indian rupee opened flat at 72.95 per dollar on Thursday against Wednesday’s close of 72.97, amid buying seen in the domestic equity market. On June 9, domestic unit ended lower at 72.97 per dollar versus Tuesday’s close of 72.88.
Market at 10 AM:
Benchmark indices were holding the initial gains with Nifty around 15700.
At 10:01 IST, the Sensex was up 177.81 points or 0.34% at 52119.45, and the Nifty was up 65.20 points or 0.42% at 15700.60. About 2057 shares have advanced, 524 shares declined, and 82 shares are unchanged.
Divis Labs, JSW Steel, Bajaj Finance, Shree Cements and Power Grid Corp were among major gainers on the Nifty.
All the sectoral indices were trading in the green with metal, pharma and realty indices rose 1 percent each.
JSW Steel May crude steel production at 13.67 lakh tonnes:
The crude steel production for the month of May, 2021 was at 13.67 lakh tonnes. The average capacity utilisation was 91% during the month of May, 2021.
JSW Steel was quoting at Rs 712.90, up Rs 14.95, or 2.14 percent on the BSE.
Bata India Q4 earning:
The company reported 23.2 percent fall in its net profit at Rs 29.5 crore against Rs 38.4 crore and revenue was down 4.9% at Rs 589.9 crore versus Rs 620.6 crore, (YoY).
Bata India was quoting at Rs 1,627.25, up Rs 69.55, or 4.46 percent on the BSE.
Nifty Metal index added 1 percent led by the NMDC, SAIL, Welspun Corp
Dollar stuck near 5-month low
The dollar continued to hover near a five-month low versus major peers on Thursday as investors looked to key US inflation data and a European Central Bank meeting later in the day to potentially set the direction for currency markets.
Gainers and losers on the BSE Sensex:
Market Opens: Indian indices opened on positive note on June 10 with Nifty around 15700.
At 09:17 IST, the Sensex was up 160.87 points or 0.31% at 52102.51, and the Nifty was up 50.80 points or 0.32% at 15686.20. About 1559 shares have advanced, 266 shares declined, and 52 shares are unchanged.
Trade Spotlight | A Technical Indicator Signals Uptrend In Avanti Feeds, Ipca Laboratories: What Should Investors Do?
A Golden Cross is formed when a short-term moving average crosses above a long-term moving average. It signals an uptrend in the offing if the move is supported by an increase in volumes as well.