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First Trade: Nifty gains to 25,152 amid positive global cues; Coforge up over 2%

Published 4 days ago2 minute read

Indian equities in today's session started trade on a strong note mirroring positive developments overseas. At the open, Nifty climbed to 25,152 levels, up 0.19 per cent or 48.9 points, while the Sensex gained 0.18 per cent to 82,595.87. From the broader markets, smallcap and midcaps rallied with over 1 per cent gains. 

Meanwhile, Bank Nifty also traded higher with gains of 0.46 per cent led by stocks like Kotak Mahindra Bank, Axis Bank and AU Bank among others.

Amid broad-based buying, the sentiment turned positive with all sectoral gauges trading in the green. PSU Bank, IT, financial services all rallied with gains of nearly 1 per cent as at the last count, while realty index continued to see profit booking.

Q4 Results:

Borana Weaves: The company in the cash market will announce its Q4 earnings today.

Suraksha Diagnostics: The lock in on 42 per cent of the outstanding shares to open.

Ex-date:

Asian Paints as well as Indian Bank will go ex-date today for their final dividend of Rs 20.5 and Rs 16.25 per share, respectively.

Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 25,000-25,075 levels and a strong buy zone at 24,850-24,950 levels on Tuesday, June 10. For the Nifty Bank, the market wizard expects support at 56,525-56,700 levels and a strong buy zone at 56,000-56,150 levels. 

Most regional markets in Asia saw good buying amid buoyancy over ongoing US-China trade talks. As per reports, the US President Donald Trump was considering doing away with the chip export restrictions against Bejing. The key MSCI Asia ex Japan index was up 0.78 per cent as at the last count.

China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes rose marginally, while Hong Kong’s Hang Seng added 0.1 per cent.

High-level China-US trade talks commenced in London on Monday, sparking hopes that the biggest economies will deescalate their ongoing tussle.world’s biggest economies will further deescalate their bitter trade conflict, after signing a temporary truce in May.

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