NIFTY, SENSEX edge up; MCX, Hyundai Motor India, Bajaj Finance, and Bharti Airtel among buzzing stocks

Benchmark equity indices NIFTY and SENSEX surged on Monday, June 9, tracking a rally in global markets and upbeat investors' sentiment post the Reserve Bank of India's jumbo rate cut of 50 basis points (bps).

NIFTY surged 0.45% to 25,117, while SENSEX jumped 346 points to 82,535 at 12:30 pm.

From the NIFTY firms, Kotak Mahindra Bank, Bajaj Finance, Axis Bank, Jio Financial Services, Adani Enterprises, Trent, IndusInd Bank, and Hero MotoCorp were the biggest gainers.

However, ICICI Bank, HDFC Life, Eternal, Titan, and UltraTech Cement were the laggards.

Buzzing stocks on June 9

This comes after the company said it is looking at single-digit volume growth in its exports in the financial year 2024-25.

"We are aiming to become Hyundai's largest export hub outside South Korea. We aspire to continue our growth trajectory in exports in the coming years," Unsoo Kim, Managing Director of Hyundai Motor India, told analysts during a call.

"For FY26, we anticipate the growth in export volumes to be around 7-8 per cent, supported by robust demand for our products in the emerging markets," Kim stated.

Additionally, the Reserve Bank of India's (RBI) Monetary Policy Committee's (MPC) decision to reduce the repo rate by 50 basis points was a positive trigger for the auto stock.

Zanubrutinib will be marketed under the brand name 'BRUKINSA'. "This launch marks a significant milestone in our innovative oncology portfolio offering patients in India with access to a globally trusted therapy with proven efficacy and safety," said Alok Malik, President and Business Head - India Formulations, Glenmark Pharmaceuticals Ltd.

Following the development, the stock was up 0.59% to ₹1,599.6 per unit on the NSE.

"The electricity derivatives contracts to be introduced by MCX will help power distribution companies, and large consumers to hedge against price volatility and manage price risks more effectively, by enhancing efficiency in the power market," the commodity bourse said in a statement.

Under this deal, Ericsson will enable intent-based operations, powered by its centralised NOC to manage Airtel services across 4G, 5G SA, 5G NSA, Fixed Wireless Access, Private Networks, and Network Slicing.

The company's market capitalisation stands at ₹5,98,218.29 crore.