Sterlite Technologies announced the launch of a new generation of Data Centre solutions, ranging from cabling to end-to-end connectivity offerings designed to power the relentless demands of AI-driven data centre infrastructure.
This new-age solution is engineered to meet the exact requirements of hyperscalers, colocation players, enterprises and telecom service providers to build agile, scalable, and sustainable Data Centre infrastructure.
13.7 million shares of Vishal Mega Mart traded in block: Bloomberg
Indra is keen to acquire defense-related products and services from AXISCADES, which will be delivered through AXISCADES’ comprehensive design, development, production, and supply chain center.
Both companies are actively exploring joint product development for the Indian and global markets, potentially adapting existing Indra products or creating new ones specifically tailored to meet customer needs.
On the back of positive global cues, the Indian indices opened flat on June 17 with Nifty around 24950.
The Sensex was down 80.50 points or 0.10 percent at 81,715.65, and the Nifty was down 21 points or 0.08 percent at 24,925.50. About 234 shares advanced, 130 shares declined, and 42 shares unchanged.
Axis Bank, Kotak Mahindra Bank, NTPC, SBI, ICICI Bank were among major gainers on the Nifty, while losers were ONGC, Tata Motors, Titan Company, Trent and Bajaj Finance.
13.7 million shares of Vishal Mega Mart traded in block: Bloomberg
A sharp rise across the board lifted the Index higher to 24,947 on June 16th trade. On the technical front, Nifty50 formed a strong bullish candle on the daily chart. If this trend continues, the Index is likely to break its current congestion zone to the upside. The immediate resistance is seen at 25,200, while the support level has been revised upward to 24,840. The zone of 56,000-56,250 will serve as a resistance area for BankNifty, whereas 55,600 will serve as a support level.
Not only the IT sector but several stocks are also strengthening their positive momentum (FSL and KPIT Tech-On the verge of a Pennant and Pole Breakout & Inverted Head and Shoulder Breakout and Persistent-Follow-up momentum post the Flag and Pole Breakout).
A Hidden Bullish Divergence was spotted in the Metal segment, indicating positive trend continuation. The Pharma segment was seen trading near its breakout level, worth monitoring for a strong rally post the breakout.
By surging over 1%, it appears that the Realty segment has completed its secondary corrective move and is all set to align with its primary uptrend (Ajmera Realty-Symmetrical Triangle Breakout and Prestige-Flag and Pole Breakout).
Despite the escalation of the Iran-Israel conflict globally stock markets are steady and resilient. The decline in the US volatility index CBOE suggests that markets are unlikely to correct sharply unless the conflict takes a dramatic turn for the worse. The main contributor to the market resilience is the retail investors using every dip in the market as a buying opportunity. Valuations do not appear to deter retail investors.
During the last 4 trading days after the conflict started FIIs sold stocks for Rs 8080 crores. This FII selling has been completely eclipsed by DII buying of Rs 19800 crores. Sustained retail funds flows, mainly through SIPs, are empowering the DIIs to buy consistently.
Nifty has support at 24500 level and is likely to face resistance at 25000 level. Even while exercising some caution, it makes sense to remain invested in this market and to buy the dips.
Domestic equities could see a subdued to weak start on the back of mildly negative sentiment in the Gift Nifty index even as most of the global indices are exhibiting a positive trend. Reports suggesting that Iran is seeking interest in ending hostilities and restarting nuclear talks could have a positive effect on equity assets worldwide.
Another factor could be if the Federal Reserve maintains a dovish stance in its policy meeting on Wednesday, it would have a sentimental impact on Dalal Street.
Technically, Nifty’s rally could pick up steam only above the 25222 mark with aggressive targets seen at 25750-26277 zone.
3.95 million shares of TVS Supply Chain changes hands in a block deal: Blooomberg
Indian rupee opened flat at 86.06 per dollar on Tuesday versus Monday’s close of 86.06.
Benchmark indices are trading firm in the pre-opening session.
The Sensex was up 375.71 points or 0.46 percent at 82,171.86, and the Nifty was up 174.70 points or 0.70 percent at 25,121.20.