28 June 2021, Post Market Report: PSU Banks, Metal & Pharma supports the day.

Hello everyone, As we had discussed in the morning, I had told you that Nifty going up or down depends on how Reliance & HDFC bank reacted today. As we could see the market today opened at an all-time high but could not sustain the levels and kept falling from the word go. 16000 seems to have taken a short back seat as of now.

The news about the press conference led by the finance minister Nirmala Sitharaman seems to have made the traders cautious and there was continuous profit booking throughout the day from the word "GO".

Sector Watch:

PSU banks, Metals & Pharma were the top-performing sectors today.

Top Gainers:

Dr Reddy was up today as a top gainer as Dr Reddy’s Laboratories has announced the commercial launch of 2-deoxy-D-glucose (2-DG), a drug for moderate to severe Covid-19 patients administered as an adjunct therapy to the existing standard care.

Top Losers:

HDFC life shares fell as Standard Life is looking to sell seven crore shares, or 3.46 percent, in HDFC Life Insurance. This will be through block deals on June 29. The price range has been fixed at ₹658-678 a share. At the lower end of the price range, the base offer size would amount to ₹4,606 crores. JP Morgan India and BoFA Securities India are the joint book runners. As on March 31, 2021, Standard Life held 17.95 crore shares amounting to 8.88 percent in HDFC Life Insurance. HDFC Life stock closed at ₹696 a piece on the BSE on Monday.

That's it for the day today. Let us catch up tomorrow on the pre-market report.

-Srikant Rajan