The stock market is abuzz with activity as IDFC First Bank has approved the grant of 5 lakh Employee Stock Ownership Plans (ESOPs). This move is expected to boost employee morale and incentivize them to contribute towards the bank’s growth and success.
In other news, HAL board is set to consider final dividend for FY24 on June 26, adding to the positive sentiment in the market. Sensex has recovered all losses and is trading in the green, with Delta Corp and Dilip Buildcon among the top gainers at this hour.
On the flip side, KNR Constructions witnessed a block deal with a 1.9% equity change hands, while Tata Motors announced an increase in prices of its commercial vehicles by up to 2%, effective July 1.
Meanwhile, Indus Towers is trading at a 4% low following a block deal impact, and Nifty Realty has fallen by 3%, with RIL, L&T, and Bharti Airtel dragging Sensex into the red.
The market is experiencing fluctuations, with Nifty 50 seeing a sharp drop below 23,500 and Sensex falling 300 points below 77K. However, experts believe that higher highs and higher lows indicate a strong bull rally, giving an advantage to the bulls in the current market scenario.
Overall, the stock market is witnessing a mix of positive and negative developments, keeping investors on their toes as they navigate through the dynamic market conditions.
