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Indices erase gains, end flat; Nifty below 16,600; RIL, Infy shine

LIC disappoints..share price falls free.

Stock Market Today: Sensex, Nifty made a strong start on Friday amid firm global trends

Stock Market LIVE Updates: Benchmark Indian indices opened higher on Friday, continuing their previous day rally, helped by solid gains in IT stocks and RIL. The 30-share BSE Sensex was trading 565.66 points higher at 56,383.77. The broader NSE Nifty jumped 159.85 points to 16,787.85.

Indian indices witnessed a positive start on Friday amid positive global cues. Globally, the Wall Street stocks rallied in overnight trade after two down sessions ahead of key jobs data, as markets fixate on the implications for inflation and monetary policy. Oil held gains in Asia, and was set for a sixth weekly advance, after a keenly anticipated OPEC+ supply meeting delivered only a modest increase in output. In Asia, shares rose in Japan, Australia, and South Korea, while markets in Shanghai and Hong Kong were closed for public holidays. 

Multibagger chemical stock Deepak Nitrite down sharply today after fire incident at plant

Deepak Nitrite share price rally took a pause today after rising for five successive previous sessions. One of the biggest multibagger stocks in chemical space today opened with downside gap and went on to hit intraday low of ₹1931.30 per share levels, losing over 5 per cent from its Thursday close of ₹2045.80 apiece on NSE.

LIC shares plunge to lowest level since listing:

Shares of Life Insurance Corporation of India (LIC) declined in Friday’s trading session to its lowest level since listing of ₹801 apiece on the BSE. LIC shares, that made stock market debut on May 17, 2022, are down more than 15% from its IPO issue price.

Multibagger stock hits upper circuit on record date of bonus shares issue Shares of Mishtaan Foods surged to hit the upper circuit level of 5% on the BSE in Friday’s deals on the day of the record date of its bonus shares issue announced in theratio of 1:1. The multibagger stock started trading ex-bonus on Thursday, June 2, 2022.

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