Suven Life Sciences Ltd, engaged in the healthcare, R&D and analytics business, has jumped over 12 per cent today from its previous close of Rs 63.85 as the board considers raising funds through a rights issue. In an upcoming meeting on June 24 2022, the management will consider issuing equity shares of the company on a rights basis to the existing shareholders of the company.

At noon on Tuesday, the headline equity indices, i.e. Sensex and Nifty 50 were trading higher by a per cent each. Sensex was at 52,380.30, up by 782.36 points or 1.52 per cent while Nifty 50 was at 15,588.05, up by 237.90 points or 1.55 per cent.    

The fear of inflation, rising rates, and recession in US markets along with slowing growth in the global economy are negatively impacting the market sentiments, as of now. From a long-term perspective, the market is trading below its average PE multiples and the market can be considered reasonably valued. With valuation getting a little attractive and most of the negatives being factored in, there is a very good chance that we are trading close to the bottom in the Indian markets. 

With empowered and technologically-sound teams, we are well on our way to reaching the goals laid out for our business; expresses Dilip Modi, Chairman, DiGiSPICE Technologies Ltd.

The sharp correction in the markets has pushed several stocks into the bear market territory.  A stock is said to be in the bear market territory when it slips by more than 20 per cent from its 52-week high. We find several liquid small-cap stocks have also slipped by more than 50 per cent from their respective 52-week highs in the recent market correction.  

The shares of Suven Life Sciences soared 12.48 per cent. The company’s board is scheduled to meet on June 24 to consider a proposal of raising funds by way of the issue of equity shares.

At the pre-opening bell, the frontline index S&P BSE Sensex opened in green with a gain of 512 points or nearly 1 per cent.

Bank Nifty moved above the prior day's high but it failed to sustain at higher levels as profit booking emerged at higher levels.  

Activity in the F&O market for the weekly expiry on June 23 shows 15000 to act as support. 

The equity benchmark indices closed higher in a volatile session on Monday. The hopeful trends in the global markets motivated the domestic market to trade higher, in which, the large-cap stocks rose the most while the mid-cap and small-cap stocks in broader markets continued to trade under pressure.