Stock Market Outlook: How Nifty 50, Sensex Will Trade On June 30?

The Indian benchmark stock market indices, Nifty 50, and Sensex, are likely to witness a gap down opening on a Tuesday, June 30, tracking a rally in global markets amid looming  tensions over the US-Iran peace deliberations.

The trends on Gift Nifty are indicative of a nearly positive start for the Indian benchmark bourses. The Gift Nifty was trading around 23,994 level, a premium of roughly 21 points from the Nifty futures’ last close.

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On Monday, the Indian stock market ended lower, with the benchmark Nifty 50 declining below 24,000 level.

Shares In Focus On June 30

HDFC Bank

In a bourse filing, India largest private lender HDFC Bank named ex-Financial Services Secretary Rajiv Kumar as its part-time chairman for a four-year term, effective June 30. The appointment has been approved by the Reserve Bank of India (RBI). 

Bajaj Auto

Bajaj Auto has announced its share buyback offer, which is slated to open for tender on July 1 and conclude on July 7, after shareholders approved the proposal earlier this month.

Yes Bank

The private bank said its board has approved a proposal to raise up to Rs 7,500 crore through the issuance of eligible securities and an additional Rs 8,500 crore via debt securities, which is subject to the necessary shareholder and regulatory approvals.

Bharat Petroleum Corporation Ltd

The PSU OMC Bharat Petroleum Corporation (BPCL) is set to acquire a 40% stake in Tiki Tar and Shell India Private Ltd. (TTSIPL) for Rs 85 crore, signalling entry into India's rapidly expanding value-added bitumen (VAB) segment. The move is aimed at tapping into the country's robust infrastructure development and road construction growth, the company said on Tuesda