Sensex closed at 65,344 level : while Nifty at 19,355 level

Indian Market 

FII AND DII 

Indian Market News 

1. Market ends with minor gains; IT, power, real estate drag, metals shine
2. After the jobs report, Wall Street concludes its tumultuous day lower.
3. As US jobs data casts doubt on swift rate increases, gold prices increase. 
4. Increasing by USD 1.85 billion to USD 595.05 billion in foreign exchange reserves
5. GIFT Nifty points to a slow start for India’s larger index.
6. Oil eases ahead of Chinese and US data, but OPEC+ cuts maintain the market.
7. On account of rising vegetable costs and a fading base effect, CPI inflation was projected to increase to 4.6% in June.
8. Will the $11.4 billion in FII influx to India since March continue?
9. Foreign investors are unlikely to soon scale back their purchases of Indian stocks.
10. Since March of this year, FIIs have invested USD 11.4 billion ($7.6 billion YTD CY23) in India.
11. India wants to have a $300 billion electronics industry and a $1 trillion digital economy. Chandrasekhar
12. A 41-page affidavit from SEBI is submitted to the Supreme Court in the Adani-Hindenburg dispute.
13. Equity inflows increased by over two times to Rs 8,637 crore, while small-cap fund flows reached a record high.
14. Adani raises $1.4 billion via the sale of stakes in three companies, totaling $9 billion in four years.
15. In the NSDL IPO, HDFC Bank will sell 2% of its equity share, and MSCI has included HDFC Bank to its Global Standard Index.
16. RIL’s market valuation exceeds Rs 18 billion
17. The pricing range for the IPO of Utkarsh Small Finance Bank is established at Rs. 23 to 25 per share.
18. Before becoming public, Cyient DLM traded on the black market at a 45% premium.
19. Suzlon Energy board approves plan to raise Rs 2000 crore
20. Due to a 30% increase in JLR volume, Tata Motors’ global sales increased by 5% in the first quarter. 
21. On July 13, HDFC Bank will replace HDFC on the MSCI indices.

 Indian Market Today  

     INDIAN MARKET MOVERS 

MAJOR UPDATES

• US job gains lowest in 2.5 years; labour market tight

  In June, the US economy added the fewest jobs in 2-1/2 years, but solid pay growth indicated still-tight labour market conditions, ensuring the Federal Reserve will raise interest rates later this month.

  On Friday, the Labor Department’s widely watched employment report revealed 110,000 fewer jobs were created in April and May, indicating that higher borrowing costs were starting to limit firms’ appetite for hiring. Last month, more people worked part-time for economic reasons, partly due to reduced hours due to slack employment or company conditions.

  The establishment survey reported a 209,000-job increase in nonfarm payrolls last month, the weakest since December 2020. Reuters economists predicted 225,000 more jobs. It was the first paycheck miss in 15 months.

  First-half job growth averaged 278,000 per month. To meet working-age population growth, the economy must create 70,000–100,000 jobs every month.

• HDFC Bank replaced HDFC on MSCI indices July 13.

  After merging with Housing Development Finance Corp (HDFC) Ltd., the country’s largest private lender HDFC Bank will replace it on the MSCI Global Standard indices on July 13.

  HDFC and HDFC Bank concluded their $40-billion merger, India’s largest, on July 1 and scheduled July 13 as the “record date” for shareholders to swap HDFC shares for HDFC Bank shares.

Global Market Update

• Gift Nifty

On Monday, the GIFT Nifty lost 10 points, indicating a flat opening for the larger index. 19,448 futures.

•  US market

  Wall Street’s main indexes ended lower on Friday in a seesaw session as investors absorbed a weaker-than-expected U.S. jobs report and awaited more economic data and corporate results in the weeks ahead.Despite strong pay growth, the US added the fewest jobs in 2-1/2 years in June.

  On Friday, the Dow Jones Industrial Average slid 187.38 points, or 0.55%, to 33,734.88, the S&P 500 fell 12.64 points, or 0.29%, to 4,398.95, and the Nasdaq Composite fell 18.33 points, or 0.13%, to 13,660.72.

• ASIA Markets

Asia-Pacific markets largely rose ahead of key inflation reports this week, including the US consumer price index report due Wednesday and the producer price index on Thursday.

• EU Markets

After severe declines Thursday, European share markets rose Friday.Sectors and bourses posted mixed gains and losses, but the pan-European Stoxx 600 index closed up 0.1%. Media stocks fell 1.3%, while chemicals rose 1.5%.

STOCK IN NEWS

• Reliance Industries: The board of directors of Reliance Retail approved a reduction of equity share capital held by shareholders other than its proprietor and the holding company Reliance Retail Ventures. Shareholders will lose their shares after reduction. It said two reputable independent registered valuers will value each share at Rs 1,362 for the capital reduction.
• Cyient DLM: The electronics manufacturing services and solutions company will go public on July 10. The ultimate share price is Rs 265.
• After HDFC merged, MSCI added HDFC Bank to its global standard indices. The indexes have removed HDFC. Effective July 13.
• Zydus Life Sciences: The USFDA concluded the Ahmedabad manufacturing facility’s pre-approval inspection (PAI) with no observations. The FDA inspected the facility July 2-7.
• Indian Oil Corporation: The board approved a Rs 22,000 crore rights issuance for the state-owned oil marketing corporation. The board approved a private limited battery swapping joint venture in India. IOC would invest Rs 1,800 crore in the battery swapping industry until FY27 in a 50:50 partnership with Sun Mobility Pte Ltd Singapore (SMS).
• Vedanta: The natural resources and technology giant now makes semiconductors and display glass. The board approved its share transfer at face value acquisition of 100% of Vedanta Foxconn Semiconductors (VFSPL) and Vedanta Displays (VDL). Twin Star Technologies (TSTL) and Volcan Investments, Vedanta’s holding company, own VFSPL and VDL.
• Aurobindo Pharma: CuraTeQ Biologics has an exclusive license agreement with BioFactura Inc., USA, to commercialize BFI-751, a planned biosimilar to Stelara (Ustekinumab). Ustekinumab, a recombinant monoclonal antibody, treats Crohn’s disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis.
• Hindustan Zinc: The mining company issued an FY243 interim dividend of Rs 7 per share, totaling Rs 2,957.72 crore.
• Som Distilleries and Breweries: The board approved funding up to Rs 141.62 crore by issuing convertible equity warrants to promoters, promoter group, and other public investors on preferential basis. It would offer up to 51.5 lakh warrants convertible in one or more tranches to equity shares at Rs 275 each. The board also authorized the preferential and private placement of 2.5 lakh equity shares to designated non-promoters at Rs 275 per share to raise money.
• Rail Vikas Nigam: The state-owned railway corporation bid the lowest for rehabilitation and upgradation from 4 to 8 lanes of Chandikhole-Paradip section of NH-53 (Package-4) in Odisha on HAM method. Project costs Rs 808.48 crore. Contract execution is expected in 24 months.
• Samvardhana Motherson International: The auto parts maker will buy 100% of Rollon Hydraulics for Rs 103 crore. From its two Bengaluru facilities, Rollon manufactures, assembles, and supplies high-precision turned parts, spools, and other machined components with crucial technical applications for agriculture and off-highway.
• Hindustan Aeronautics: The Ministry of Defence has inked a Rs 458.87 crore contract with Hindustan Aeronautics for two Dornier aircraft and engineering support for the Indian Coast Guard (ICG). Buy (Indian) will purchase the airplane.

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