Benchmark equity indices rallied for the second consecutive day on Thursday with the easing political concerns as the ruling NDA is set to form the government for the third time.
The BSE Sensex jumped 692.27 points or 0.93 per cent to settle at 75,074.51. The NSE Nifty climbed 201.05 points or 0.89 per cent to close at 22,821.40. PSU Banks, IT, Realty, Oil & Gas were major gainers up to 2-4 per cent. Except for FMCG which witnessed profit booking, all other sectors ended in green.
"The benchmark indices maintained their positive momentum, as the new coalition is about to swear in, which is predicted to be a stable government. However, anxiety persists over the new cabinet being put in place and policy measures expected to be announced in the coming budget. Meanwhile, the market is awaiting fresh signals from the RBI's comments on liquidity," said Vinod Nair, Head of Research at Geojit Financial Services.
Here are the key stocks to watch on June 7:
Tata Chemicals: Subsidiary Tata Chemicals Europe has been fined Euro 1.1 million by the Chester Crown Court in the UK for a safety incident in 2016. This incident, which led to a contractor’s injury and subsequent death, occurred at one of the company’s UK sites.
ICICI Bank: Markets regulator SEBI has asked the bank to take action against alleged employee outreach to influence votes on the delisting of ICICI Securities' equity shares. The regulator also asked ICICI to submit an action taken report to the bank’s board and a summary of the board discussions to the SEBI.
Wipro: The IT major bagged a contract worth $500 million or Rs 4,175 crore from a leading US communication service provider. Over a five-year period, Wipro will deliver managed services for various products and industry-specific solutions.
PB Fintech: The parent company of Policybazaar said its Chairman and CEO Yashish Dahiya has received a show cause notice from the SEBI. The notice, issued under SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995, concerns an investment transaction involving PB Fintech FZ-LLC, Dubai.
Bajaj Finance: The company said its subsidiary Bajaj Housing Finance has approved an initial public offering (IPO) of equity shares valued at Rs 10 each. The public issue will consist of a fresh issue of equity shares aggregating up to Rs 4,000 crore, subject to any permissible revisions under applicable law.
