Indian Market
FII AND DII
| FII purchased | 1382.57 Cr |
| DII Bought | 392.30 Cr |
Indian market news
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- Nifty at 18,650, Sensex down 260 points; IT, real estate, and auto sectors hardest affected
- Asian markets continue to decline; Straits Times and Nikkei decline
- The Indian central bank maintains rates but claims that inflation is still too high.
- RBI maintains 6.5% GDP growth
- Rate-sensitive stocks don’t react dramatically as the RBI meets forecasts on the market
- The Indian markets have a flat start, according to SGX Nifty.
- Japan’s GDP expanded more than anticipated in Q1
- Indices trade with small gains prior to the release of the RBI’s policy statement.
- Brigade Enterprises, Macrotech Developers, and Godrej Properties pulled the BSE Realty index down by 0.5%.
- SpiceJet increases 4% after partnering with FTAI Aviation
- On June 7, shares are purchased by foreign institutional investors for Rs. 1,382.57 crore.
- Zen Technologies receives a contract for Rs. 202 billion.
- The RBI will keep things as they are under the future policy:
- ABEnergia Renewables awards a 100 MW turnkey project to Inox Wind.
- LIC ups its ownership of Tech Mahindra to 8.88%
Indian market Today
| SENSEX | -266.71 | -0.42% | 62,876.25 |
| NIFTY50 | -78.85 | -0.42% | 18,647.55 |
| BANK NIFTY | -268.80 | -0.61% | 44,006.50 |
INDIAN MARKET MOVERS
| NTPC | 5.10 2.88% | Grasim | -56.75 -3.21% |
| JSW Steel | 20.95 2.87 % | Kotak Mahindra | -54.95 -2.83% |
| ONGC | 2.45 1.59% | Sun Pharma | -25.35 -2.50% |
| Power Grid Corp | 3.05 1.28% | Tech Mahindra | -23.10 -2.11% |
| Larsen | 24.60 1.06% | TATA Cons. Prod | -16.75 -2.03% |
Global Market Update
- Australia; In advance of the release of the economy’s May trade balance later today, Australia equities were heading for a lower opening, with futures for the S&P/ASX 200 at 7,117, down from the index’s most recent closing of 7,118.
- Japan; With the futures contract in Chicago at 31,875, and its counterpart in Osaka at 31,840 against its most recent close of 31,913.74, the Nikkei 225 in Japan is expected to decline even more. After a brief surge on Wednesday, Hong Kong’s Hang Seng index is likewise expected to decline; futures are at 19,116 versus the HSI’s closing price of 19,252.
- The SGX Nifty gained 12 points on Thursday, signalling a slightly better opening for the larger index. Futures on the SGX were at 18,823.
STOCK IN NEWS
- Tech Mahindra: In around six months, open market transactions have grown Life Insurance Corporation of India’s holding in the IT services firm by 2.015%, from 6.87% to 8.88%. These shares’ average purchase price was Rs 1,050.77 per share.
- Wipro: In collaboration with Cisco, the technology services and consulting firm launched a managed private 5G-as-a-Service solution.
- Punjab & Sind Bank: On June 12, the bank’s board of directors will meet to discuss a proposal to raise up to 750 crore in capital through the issuance of Basel-III compliant additional Tier-1 bonds or Tier-IT bonds in one or more tranches within a year of the proposal’s approval.
- Mazagon Dock Shipbuilders: In order to cooperate and prepare for the Indian submarine project P75-I, Thyssenkrupp Marine Systems and Mazagon Dock Shipbuilders have signed a non-binding/non-financial Memorandum of Understanding.
- Lemon Tree Hotels; A License Agreement has been signed by Lemon Tree Hotels for a 60-room building in Rajamundry, Andhra Pradesh. By the third quarter of FY25, the hotel is anticipated to be open for business. This hotel will be run by a subsidiary of Carnation Hotels.
- Aether Industries: The chemical producer and the US-based international oil field services company have signed a Letter of Intent (LoI) to collaborate as a key supplier and in contract manufacturing.
- Deepak Fertilisers & Petrochemicals Corporation; Smallcap World Fund Inc., a foreign portfolio investor, sold 23.54 lakh equity shares, or 1.86% of the company, through open market transactions, at an average price of Rs. 548.42 per share. As of March 2023, the FPI owned 62.35 lakh shares, or 4.94% of the firm.
- D-Link India: Ashish Kacholia, a well-known investor, sold 1.94 lakh shares, or 0.54% of D-Link India, at an average price of Rs 228.5 per share. As of March 2023, Kacholia owned 7.5 lakh shares, representing 2.11% of the firm.
- Snowman Logistics: At an average price of Rs 40.02 per share, promoter Gateway Distriparks purchased an additional 11 lakh shares, representing 0.65% of the logistic company.