Sensex jumps above 64,000-Nifty crossed 19000
Indian Market
FII AND DII
| FII Purchased |
2024.05Cr |
| DII Sold |
1991.35Cr |
Indian Market News
- Sensex rises above 64,000, Nifty crosses 19,000, and all sectors are up.
- Sensex soars 500 points, Nifty hovers above 19,000, while Nifty Bank reaches a record high.
- Asia’s markets are trading in a mixed way, with the Nikkei up 0.6% and the Kospi down 0.5%.
- Wall Street ends higher because good economic news calms fears of a slowdown.
- Dollar stays the same; Aussie falls as inflation slows
- Oil goes up as US oil and gasoline stocks drop more than expected.
- India’s CAD for March was $1.3 billion, and it will be $67 billion for FY23.
- SGX Nifty shows that the wider index in India is off to a good start.
- The predicted price range for crude oil is $65 to $70. Michael Imran
- Zomato and TVS Motor Company announce their partnership.
- After the merger date was clarified, HDFC and HDFC Bank increased.
- On a $200 million international loan agreement, CreditAccess Grameen increases.
- Orchid Pharma ends its QIP offer and sets the price of the offer at Rs 403.93 per share.
- Ruby quits her job at Sapphire Foods. Societe Generale, Goldman Sachs, and Nomura choose 1.97% of the company.
- BEML gets orders from BDL and BEL worth Rs 385 crore
- The Cyient DLM IPO was bought out 4 times, and the retail part was bought out 14.90 times.
- Day 3 of the IdeaForge Technology IPO: the issue was bought 16,74 times, and the retail part was bought 43 times.
- Titagarh Rail gets the Letter of Acceptance (LoA) for a project worth Rs 857 crore; shares hit a 52-week high.
- SBI will buy all of SBI Capital Markets’ 20% share in SBI Pension Funds.
- After Aditya Birla Fashion and Retail gets approval to buy TCNS Clothing, the stock goes up by 2%.
- HDFC buys Rs. 992.64 crore worth of shares in HDFC Life Insurance Ltd. Mindtree is expected to replace HDFC Ltd. in the Nifty 50.
Indian Market Today
| SENSEX |
+499.39 |
+0.79% |
63,915.42 |
| NIFTY50 |
+154.70 |
+0.82% |
18,972.10 |
| BANK NIFTY |
+206.30 |
+0.47% |
44,327.80 |
INDIAN MARKET MOVERS
| Adani Enterprise |
126.55 5.54% |
HDFC Life |
-15.25 -2.29% |
| Adani Ports |
37.20 5.16% |
Tech Mahindra |
-11.60 -1.04% |
| JSW Steel |
21.80 2.86% |
Hero Motocorp |
-15.35 -0.54% |
| Bajaj Auto |
113.45 2.56% |
M&M |
-7.40 -0.53% |
| Tata Motors |
13.45 2.35% |
Apollo Hospital |
-15.90 -031% |
MAJOR UPDATES
-
- The US is thinking about putting new limits on the chips it sends to China.
People who know about the situation told the Wall Street Journal on Tuesday that the US is thinking about putting new limits on sending AI chips to China. In extended trade, the news caused shares of Nvidia to drop by more than 2% and shares of Advanced Micro Devices (AMD) to drop by about 1.5%.
According to a report, the US Department of Commerce will stop sending chips made by Nvidia and other chip makers to customers in China as early as July. Some U.S. chipmakers, like Nvidia, Micron, and AMD, are caught in the middle of a fight between China and the Biden government.
-
- HDFC says the date of July 13 is “tentative”
Hours after HDFC chairman Deepak Parekh listed the important dates for the HDFC giant merger, the company said in a filing with the stock exchange that the dates are “tentative.”
It said, “We want to make it clear that both HDFC Limited and HDFC Bank are working to finish all the necessary paperwork so that the proposed merger can happen on the tentative dates.”
Parekh had said earlier in the day that the deal should be done by July 1 and that HDFC Ltd shares would be taken off the market by July 13. After this, both prices went up more than 1% in late trading on June 27.
- In a case of money laundering, ED arrests R K Arora, the head of the real estate company Supertech.
Official sources say that the Enforcement Directorate (ED) arrested RK Arora on Tuesday on charges of laundering money. Arora is the head and owner of the real estate company Supertech.
After a third round of questions at the federal agency’s office, Arora was taken into custody under the criminal parts of the Prevention of Money Laundering Act (PMLA). He should be brought here to a special PMLA court on Wednesday, where the ED will ask for him to be held for longer.
Global Market Update
With a rise of 60 points on Wednesday, the SGX Nifty shows that the broad index will get off to a slightly better start. Futures on the SGX were at 18,869 points.
On Tuesday night, US S&P 500 futures went down by a small amount. Futures for the S&P 500 and the Nasdaq 100 fell by 0.19 percent and 0.39 percent, respectively. The futures for the Dow Jones Industrial Average did not move much. The Dow Jones Industrial Average had its first good trading day in seven days on Tuesday, when it closed 0.63 percent higher. On the other hand, the S&P 500 and the Nasdaq Composite both went up by more than 1%, thanks to a rise in tech stocks after last week’s drop.
Tuesday was mostly a bad day for European markets, but they ended on a cautiously optimistic note as investors listened to what central bankers said at the ECB Forum in Sintra. After six straight down sessions, the pan-European Stoxx 600 finished with a 0.09 percent gain.
There were gains and losses in different sectors. Banks led the way with a 1% gain, while health-care stocks dropped 1.12%. Fintech Wise was the best performer by itself. Its stock price went up by more than 16 percent after its full-year results showed a 73 percent increase in gross profit and a 34 percent increase in customers. At 7461 points, the FTSE ended up 0.11 percent. At 15,846 points, the DAX finished up 0.21 percent.
- Asia-Pacific markets went up as the region waited for Australia’s inflation numbers for May and China’s industrial profits for May. In early trading in Australia, the S&P/ASX 200 went up by 0.71 percent. Reuters asked economists and found that they expect the country’s inflation rate to drop to 6.1% from 6.8% in April.
- In Japan, the Nikkei 225 went up 1% after losing money for three days in a row, and the Topix also went up 0.9%. The South Korean Kospi came close to being flat, and the Kosdaq went up by 0.27 percent. After rising almost 2% on Tuesday, Hong Kong’s Hang Seng index is also likely to keep going up. Futures for the HSI are at 19,185, while the HSI closed at 19,148.13.
BLOCK DEALS
- HDFC Life Insurance firm: Promoter Housing Development Finance Corporation purchased 1.49 crore equity shares, or 0.69 percent, in the life insurance firm through open market transactions for Rs 992.64 crore at an average price of Rs 667.1 per share.
- Sapphire Foods India: WWD Ruby, a foreign company, has exited Sapphire Foods, which operates KFC, Pizza Hut, and Taco Bell restaurants in India, Sri Lanka, and the Maldives, by selling its entire 30.3 lakh equity shares, or 4.77 percent stake, in the company through open market transactions at an average price of Rs 1,377.1 per share. The share sale was Rs 417.29 crore. However, at the same average price, Goldman Sachs (Singapore) Pte – ODI, Societe Generale – ODI, and The Nomura Trust and Banking Co Ltd as The Trustee of Nomura India Stock Mother Fund purchased 12.53 lakh equity shares, representing 1.97 percent of the firm.
STOCK IN NEWS
- Infosys: The country’s second largest IT services company, has inked a Memorandum of Understanding with Skillsoft, a supplier of transformational learning experiences, to redesign education and learning in India for kids from class 6 to lifelong learners.
- TCNS Clothing: The Competition Commission of India has authorised Aditya Birla Fashion and Retail’s purchase of TCNS Clothing. The Aditya Birla Group will purchase a 51 percent stake in TCNS.
- Swan Energy: The cotton and polyester textile products producer has got board permission to issue up to 2.3 crore equity shares on a preferential basis to the non-promoter at a price of Rs 300 per share or at a price not less than the minimum price, whichever is greater.
- Titagarh Rail Systems: Has been awarded a Letter of Acceptance (LOA) by the Gujrat Metro Rail Corporation (GMRC) for the design, production, delivery, testing, commissioning, and training of 72 standard gauge cars for Surat Metro Rail Phase-I. The project’s order value is around Rs 857 crore, and implementation will begin 76 weeks after the contract is signed. The project is expected to be finished in 132 weeks.
- Housing Development Finance Corporation: HDFC and HDFC Bank are striving to complete all of the necessary processes for the planned merger. The effective merger date of July 1 and the record date of July 13 are both provisional and subject to certain requirements being completed. When the board members of HDFC and HDFC Bank decide on the scheme’s effective date and record date, the stock exchanges will be notified.
- Gland Pharma: The US Food and Drug Administration (US FDA) has issued one 483 observation for the Pashamylaram plant in Hyderabad. This is a procedural observation. The US FDA performed a pre-approval inspection (PAI) and good manufacturing practise (GMP) examination at the Pashamylaram factory in Hyderabad between 15 and June 27, 2023.
- State Bank of India: The bank’s Executive Committee of the Central Board has approved the acquisition of the whole share held by SBI Capital Markets in SBI Pension Funds, subject to regulatory clearances.
- Ramco Cements: The business has commissioned Line III, which has a clinkerisation capacity of 3,000 TPD (tonnes per day) at its Ramamasamy Raja Nagar plant. This is the first integrated cement line to be built in Tamil Nadu’s south in the last 15 years.
- Shalby: The multispecialty hospital network has agreed to develop a Franchise-Owned-Shalby-Managed (FOSM) hospital in Ranchi with Divine Super Specialty Hospital. Divine Super Specialty Hospital has 60 beds available.
- Shalby: The multispecialty hospital network has agreed to develop a Franchise-Owned-Shalby-Managed (FOSM) hospital in Ranchi with Divine Super Specialty Hospital. Divine Super Specialty Hospital has 60 beds available.
- GR Infraprojects: The business is investigating a pillar sinking event at the SPV GR Galgalia Bahadurganj Highway project site. On June 23, an under-construction pillar sank at one of its project locations in Kishanganj, Bihar, across the Mechi river.
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