Indian Market
FII AND DII
| FII sold | 308.97 Cr |
| DII purchased | 1245.51 Cr |
Indian market news
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- Sensex up 99 points, Nifty at 18,600, mid and small caps each up 0.5%.
- According to Moody’s, India’s GDP should grow by 6.6–6.6.3 percent in the first quarter.
- Before February 2024, the MPC might not decrease interest rates: HDFC Securities
- S&P 500 and Nasdaq reach new 2023 highs as Tesla prices rise.
- With Nikkei, Straits Times up, and Kospi down, Asian markets are divided.
- The Indian indices are off to a good start, according to SGX Nifty.
- Oil declines in advance of the Fed meeting.
- On June 9, FII sells shares worth Rs. 308.97 crore.
- Dollar steady as Fed pause is anticipated throughout this busy central bank week.
- A stronger dollar and the attention on central bank meetings cause gold to decline.
- Ahluwalia Contracts receives a contract for Rs. 426.57 billion.
- CONCOR trades lower as the proposed share sale collides with railroads
- Singapore-based TVS Motor to boost ownership of Swiss E-Mobility Group
- Titagarh Wagons to raise Rs 288 crore through preferential share allocation; shares drop
- Large transaction involves the transfer of 62 lakh shares of Go Fashion.
- Shares of Cochin Shipyard increased by 4% on a contract win.
- The signing of a contract worth Rs. 54.38 crore increases the share price of Avantel by 6%.
Indian market Today
| SENSEX | 99.08 | +0.16% | 62,724.71 |
| NIFTY50 | 38.10 | +0.21% | 18,601.50 |
| BANK NIFTY | -44.80 | -0.10% | 43,944.20 |
INDIAN MARKET MOVERS
| BPCL | 11.95 3.32% | Power Grid Corp | -3.25 -1.33% |
| HCL Tech | 28.05 2.53% | Larsen | -23.05 -0.98% |
| Infosys | 26.70 2.11% | Cipla | -9.30 -0.96% |
| NTPC | 3.40 1.86% | Titan Company | -23.65 -0.82% |
| Adani Enterpris | 41.25 1.68% | Maruti Suzuki | -77.35 -0.80% |
Global Market Update
- US As traders anticipated this week’s Federal Reserve policy meeting and the most recent inflation statistics, S&P 500 futures showed little movement on Sunday night. Futures for the S&P 500 rose 0.14 percent. Futures for the Nasdaq 100 increased by 0.27 percent while those for the Dow Jones Industrial Average gained 19 points, or 0.06 percent. The S&P 500 posted its fourth consecutive week of gains and nearly reached its highest point since August. Investors are coming off a successful week for the markets. The broad market index increased 0.11 percent on Friday, ending the day at 4,298.86. Gaining 43.17 points, or 0.13 percent, the Dow industrials. The Nasdaq Composite increased by 0.16 %.
- EUROPE Ahead of significant monetary policy meetings and at the conclusion of a quiet trading week, European markets were marginally lower. Provisionally, the Stoxx 600 index for all of Europe fell 0.2 percent, with sectors seeing gains and losses. Chemicals declined by 2% while utilities increased by 0.7%. At 7562 points, the FTSE index ended the day 0.49 percent lower. The DAX fell 0.25 percent to 15,949 points at the close.
- ASIA:- As investors come back after a successful week and anticipate the significant central bank meetings that are coming up, the Asia-Pacific markets are trading in a mixed manner. The European Central Bank meets on Thursday, the Bank of Japan meets on Friday, and the US Federal Open Market Committee (FOMC) meets on June 13 and 14.
- In Japan, the Topix gained 0.48 percent, while the Nikkei 225 opened 0.45 percent higher and kept trading near 33-year highs. The Kospi and the Kosdaq both experienced good openings, rising 0.32 percent and 0.2 percent, respectively. In contrast, futures for Hong Kong’s Hang Seng index, which closed at 19,389.95, indicate that the index will open lower, at 19,340. The markets in Australia are closed due to the holiday.
STOCK IN NEWS
- Tata Motors: HSBC India and Tata Motors have partnered to finance the purchase of electric vehicles by employees in the corporate sector. In accordance with the partnership, customers who have a salary account with HSBC India will be able to apply for a specially designed loan to buy an electric vehicle from Tata Motors’ EV lineup.
- Kotak Mahindra Bank: Canada Pension Plan Investment Board, a foreign portfolio investor, has sold 3.3 crore equity shares, or 1.66 percent of the private sector lender Kotak Mahindra Bank, through open market transactions. At an average price of Rs 1,855.64 per share, shares were sold. As of March 2023, CPP Investment Board owned 8.63 crore shares, or 4.34% of the bank.
- TVS Motor Company: TVS Credit, a division of TVS Motor, has given the go-ahead for the signing of a number of share purchase agreements between PI Opportunities Fund-I Scheme-II, TVS Credit, and a number of its current shareholders. For Rs 257.02 crore, PI Opportunities Fund will purchase a few extra TVS Credit equity shares.
- Cochin Shipyard: has been designated as L1 by the Indian Navy for the MR/Mid Life Upgrade of an Indian naval ship. The aforementioned project is expected to cost roughly Rs 300 crore to complete, and it would likely take 24 months.
- Karur Vysya Bank: The private sector lender hiked the benchmark prime lending rate (BPLR) and base rate both by 45 basis points, from 15.75% to 16.20% and 11.20%, respectively. These rates will change beginning on June 16.
- InterGlobe Aviation: For the United States, the low-cost carrier has increased its codeshare partnership with Turkish Airlines. Beginning on June 15, it will introduce codeshare flights via Istanbul to four American destinations. New York, Boston, Chicago, and Washington will all be connected by the flights.
- Jupiter Wagons: The Corporate Insolvency Resolution Process (CIRP) of the 2016 Insolvency and Bankruptcy Code has approved the resolution plan presented by Jupiter Wagons for acquiring the majority share in Stone India. After the resolution plan is put into action, Stone India will join Jupiter Wagons as a subsidiary.
- CMS Info Systems: At an average price of Rs 300.23 per share, promoter Sion Investment Holdings Pte Limited sold 2.12 crore equity shares, or 13.75% of Cash Management and Payment Solutions, through open market transactions.
- Birla Corporation: Societe Generale, a financial services company based in Europe, has acquired a 0.5 percent stake in Birla Corporation, formerly known as Birla Jute & Industries. Societe Generale, a foreign portfolio investor, purchased 3.99 lakh shares of the company through open market transactions at an average price of 1188 per share.
- India Info Edge: The IT business has agreed to sell to VLCC Health Care (VLCC) all of the shares it currently holds in Happily Unmarried Marketing (HUM) through its wholly owned subsidiary Startup Investments (Holding) (SIHL). For a total of Rs 61 crore, the stake will be sold using a combination of cash and share exchange. Unless the parties agree to an extension, the stake sale should be finished within two months after signing.
- Indian Energy Exchange: Harsh Anand Jain purchased 52.95 lakh equity shares, or 0.59% of the Indian Energy Exchange, through open market transactions for a total of Rs 66.09 crore, or an average price of Rs 124.82 per share.
- Steel Authority of India: Through open market transactions, Life Insurance Corporation of India purchased an additional 2% of the steel company. As a result, LIC boosted its ownership of SAIL from 6.686% to 8.687%.
- Avantel: The business and the Ministry of Defence have agreed to a 54.38 crore rupee contract. By September 2024, the contract will be put into effect.