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First Trade: Indices open on a muted, Nifty near 24,800

Published 13 hours ago2 minute read

Indian equities in Friday's trade amid weak global cues opened on a muted note. At the open, the NSE's Nifty50 was down 0.25 at 24,793, while the Sensex was up 19.25 points at 81,381.11 points. Meanwhile, the high-beta Bank Nifty index was mildly up 0.26 per cent.

Within the broader markets, Nifty Midcap 100 and Nifty Smallcap 100 indices traded mixed, with the smallcap gauge trading lower.

From the Nifty 50 pack, top gainers in early trade were M&M, Eicher Motors, Eternal, Adani Enterprises and SBI, while top laggards were Bajaj Auto, Hero MotoCorp, Bajaj Finance, ONGC and IndusInd Bank.

Nestle: Today marks the last day of the FMCG major in Sensex. Also, the company has announced a board meeting for mulling the first-ever bonus issue. 

Ethos: The company's right issue will remain open between June 20 to July 3, 2025. The rights issue is priced at Rs 1,800 and as part of the rights share issue, eligible shareholders will be given 4 shares for every 43 shares held in the company.

Power Finance Corporation (PFC) and REC Ltd: The apex lender Reserve Bank of India has released new rules of project financing. The central bank has proposed 1 per cent standard asset provisioning for projects under construction as against 5 per cent proposed earlier.

Aditya Birla Fashion and Retail (ABFRL): Shares of Aditya Birla Lifeystyle will list on the bourses on June 23. For 10 days, shares of the company will be part of the T2T segment. Brands within the Madura Fashion such as Louis Philippe, Van Heusen, Allen Solly और Peter England will come under the umbrella of Aditya Birla Lifeystyle.

Most Asian stocks traded higher in early trade today as the US President will decide on its action in Israel-Iran war within two weeks, providing some relief to the markets in the near term. As of the last count, the key MSCI Asia ex Japan index traded higher by 0.58 per cent.

Nevertheless, Japanese shares traded on a muted note with mild gains after hot consumer inflation print.

Origin:
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Zee Business
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