Comments
Benchmark indices opened lower on Monday. BSE Sensex declined by 315.49 pts or 0.41 per cent to trade at 76,894.41 as of 9.18 am, and Nifty 50 dropped by 94.20 pts or 0.4 per cent to trade at 23,406.90.
All sectoral indices except FMCG and consumer durables traded in the negative territory. Nifty PSU Bank, metal, and realty stocks declined over 1 per cent.
- Also read: Most long-short funds beat Nifty in May
Nifty bank was down by 0.75 per cent at 51,275.80.
Commenting on Nifty outlook, Anand James, Chief Market Strategist, Geojit Financial Services, said, “Downside attempts failed to penetrate past 23420 last week, despite multiple attempts, but they have indeed made this key region vulnerable. Favoured view expects slippage past the same this week, with eyes on 23100-22700. Mid-week reversal attempts would have to force a close above 23580-630 region to rekindle the 23960-24130 hopes.”
Stocks to watch
The stocks that emerged as top gainers were Sun Pharma (1.12%), Wipro (0.60%), ITC (0.58%), ICICI Bank (0.38%), and Hindustan Unilever (0.27%). While, IndusInd (-2.19%), Cipla (-2.17%), Tata Steel (-1.62%), SBI (-1.27%), and Adani Ports (-1.26%) were major laggards.
Titan Company Ltd has approved the appointment of N.S Raghavan, currently serving as the Chief Sales & Marketing Officer of Eyecare Division of the Company, as the Chief Executive Officer (CEO) of EyeCare Division.
Saumen Bhaumik, currently the CEO of EyeCare Division of the Company, will take over the position of Managing Director of CaratLane Trading Private Limited (CaratLane), subsidiary of the Company where Titan holds 99.99 per cent. The transition of these roles will be completed on or before 1st October 2024.
One 97 Communications Limited (OCL)/ Paytm has partnered with leading global travel aggregators such as Skyscanner, Google Flights, and Wego. Stock slipped 0.73 per cent to trade at ₹408.15 on the NSE as of 9.33 am.
Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd, has received approval from the European Medicines Agency (EMA) to manufacture biosimilar Bevacizumab at its multi-product monoclonal antibodies (mAbs) drug substance facility in Bengaluru. Biocon stock fell 1.62 per cent on the NSE, trading at ₹340.10.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.