Indian Market
FII AND DII
| FII Sold | 658.88 Cr |
| DII purchased | 581.85 Cr |
Indian market news
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- Nifty ends at 18,600 and Sensex rises 241 points, with gains from electricity, autos, and capital goods
- Markets are expected to open strongly and move forward.
- The May Services PMI for India was 61.2 instead of 62, and the Composite PMI remained at 61.6, MoM.
- Ten-year agreement for TCS to oversee the England and Whales Pension Plan
- Paytm notes a 24% increase in monthly active users, and a 169% increase in loan offtake
- On June 2, FII sold shares worth Rs. 658.88 crore while DII purchased shares for Rs. 581.85 crore.
- The Indian indices are off to a good start, according to SGX Nifty.
- On June 2, FII sold shares worth Rs. 658.88 crore while DII purchased shares for Rs. 581.85 crore.
- Caixin PMI reports that China’s services activity increased in May due to higher demand.
- As OPEC+ extends the agreement beyond 2024, Saudi Arabia guarantees significant oil production reductions in July.
- Nikkei and Straits Times each rose by 1% as Asian markets traded higher.
- Oil rises 2% on Saudi Arabia’s vow to further reduce supply starting in July
- As inflation declines, the RBI is expected to keep interest rates on hold.
- IIFL Finance receives board approval to offer Rs. 1,500 crore in Tranche II NCDs on June 9.
- North Central Railway has given HG Infra Engineering the go-ahead for a project worth Rs. 655 crore.
Indian market Today
| SENSEX | 240.36 | +0.38% | 62,787.47 |
| NIFTY50 | 59.75 | +0.32% | 18,593.85 |
| BANK NIFTY | 163.80 | +0.37% | 44,101.65 |
INDIAN MARKET MOVERS
| M&M | 54.00 4.03% | Divis Labs | -49.30 -1.40% |
| Axis Bank | 24.75 2.67% | Tech Mahindra | -13.75 -1.22% |
| Tata Motors | 10.35 1.93% | Asian Paints | -37.50 -1.16% |
| Larsen | 33.75 1.51% | Nestle | -212.30 -0.96 % |
| Grasim | 23.95 1.40% | BPCL | -3.25 -0.90% |
STOCK IN NEWS
- Tech Mahindra: Comviva Technologies, the IT firm’s subsidiary, and Comviva Technologies BV, the company’s step-down subsidiary, have agreed to sell 0.04% and 99.96% of their shares in Comviva Technologies do Brasil Indstria, Comércio, Importaço e Exportaço Ltda, respectively, according to Tech Mahindra.
- Wipro: The IT services provider has established June 16, 2023 as the record date for establishing eligibility and identifying equity shareholders who are entitled to take part in the repurchase offer.
- Godrej Properties: From a previous ownership of 74% to 100%, Godrej Properties has further grown its holding in Godrej Home Constructions. With effect from June 2, the aforementioned transaction has transformed Godrej Home Constructions into a fully-owned subsidiary of the business.
- SBI Life Insurance Company: To safeguard the interests of SILIC’s policyholders, the Insurance Regulatory and Development Authority of India (IRDAI) has named SBI Life as the acquirer insurer of the life insurance business of Sahara India Life Insurance Company (SlLIC).
- Minda Corporation: The board has given the auto component producer permission to raise up to Rs 600 crore in capital.