Most Asian markets rose in early trade on Monday after data showed Japan's economy contracted less than estimated in the first quarter.
The Nikkei 225 was 186.92 points or 0.48% higher at 38,870.85, and the KOSPI was 26.21 points or 0.96% down at 2,696.46 as of 06:46 a.m.
The world’s biggest bond market got hammered as a solid US jobs report made traders dial back their bets on Federal Reserve rate cuts, Bloomberg said.
The S&P 500 Index and Nasdaq Composite rose 0.11% and 0.23%, respectively, as of Friday. The Dow Jones Industrial Average fell 0.96%.
Brent crude was trading 0.02% higher at $79.64 a barrel. Gold rose 0.07% to $2,295.42 an ounce.
The GIFT Nifty was 33 points or 0.14% higher at 23,290.50 as of 6:47 a.m.
The Indian benchmark equity indices recovered from their losses on counting day and recorded their highest close on Friday as heavyweights led the rally. The NSE Nifty 50 closed 468.75 points or 2.05%, up at 23,290.15, while the S&P BSE Sensex closed 1,618.85 points or 2.16%, higher at 76,693.36.
Overseas investors turned net buyers on Friday after three consecutive sessions of selling. Foreign portfolio investors mopped up stocks worth Rs 4,391.02 crore, while domestic institutional investors turned net sellers after two buying sessions and sold equities worth Rs 1,289.75 crore, according to provisional data from the National Stock Exchange.
The Indian currency strengthened by 10 paise to 83.37 against the US dollar.
Stocks to Watch
Suzlon Energy: Marc Desaedeleer resigned from the post of Independent Director.
Adani Ports and SEZ: Company recorded a 7% growth on-year in cargo handled to cross the one-million-tonne mark last fiscal.
Wardwizard Innovations And Mobility: The company received an order worth $1.29 billion from Beulah International for EVs.
Borosil Renewables: The board approved raising up to Rs 450 crore via the rights issue of shares.
Artson Engineering: The company received a Rs 126 crore order for engineering and construction at Guwahati International Airport.
Gland Pharma: The company appointed Srinivas Sadu as Executive Chairman and CEO of the company.
Rail Vikas Nigam: The company JV with KRDCL received a project worth Rs 156 crore from Southern Railway for “Provision of Automatic Signalling on Ernakulam Thiruvananthapuram Division in Southern Railway.
UCO Bank: The bank will hike MCLR on 3-month and 1-year tenures by 5 bps effective June 10.
Dr Reddy’s Laboratories: The US FDA has completed a GMP inspection at the API manufacturing facility in Andhra Pradesh and issued Form 483 with four observations.
Jubilant Pharmova: The US FDA completed an audit of a contract manufacturing facility in Washington and issued three observations.
IDBI Bank: The company received income tax order determining Rs 2,701.6 crore refund for AY 2016-17. The company is in the process of evaluating the implications of tax order on financial statements.
Raymond: The company real estate division has been selected Preferred developer for redevelopment of Mumbai residential area. The project has an estimated revenue potential of more than 2,000 crore.
Inox Wind: The company incorporated four wholly owned subsidiaries.
CESC: The company’s step-down arm incorporated wholly owned subsidiary HRP Green Power.
Medplus Health: The company’s arm received 4 license suspension orders for stores at various locations in Karnataka.
KPI Green Energy: The company’s subsidiary Sun Drops Energia, approved a private placement of 10,66,098 equity shares to Chairman and Managing Director Faruk G. Patel, representing 16.62% of the expanded paid-up share capital. Post-completion, Sun Drops will be a subsidiary representing 83.38% of the expanded paid-up share capital.
Apeejay Surrendra Park Hotels: The company has expanded its geographical presence in Uttarakhand by building new hotel in the brand name ‘The Park’.
IPO Offering
Ixigo: The company will offer its shares for bidding on Monday. The price band is set from Rs 88 to Rs 93 per share. The Rs 740.1 crore IPO is a combination of a fresh issue of Rs 120 crore and the rest of the offer for sale. The company has raised Rs 333 crore from anchor investors.
Bulk Deals
Sudarshan Chemical: HDFC Mutual Fund bought 10.28 lakh shares (1.48%) at Rs 778.1 apiece, while Rathi Ajay Balkrishna sold 10.28 lakh shares (1.48%) at Rs 778.1 apiece.
Thermax: Nalanda India Equity Fund Limited sold 15 lakh shares (1.25%) at Rs 5100.26 apiece, while SBI Mutual Fund bought 13.74 lakh shares (1.15%) at Rs 5100 apiece.
Moschip Technologies: Rajesbhai Navinchandra Shah sold 11.81 lakh shares (0.65%) at Rs 185.95 apiece.
Insider Trades
Jindal Saw: Promoter Shradha Jatia bought 19,004 shares on June 4.
Sudarshan Chemical: Promoter Ajay Balkrishna Rathi sold 18.48 lakh shares on June 5.
Usha Martin: Promoter Peterhouse Investments India sold 75,000 shares.
Cantabil Retail: Promoter Deepak Bansal bought 1 lakh shares between June 5 and 7.
Pledge Share Details
India Cements: Promoter EWS Finance and Investments created a pledge for 13.16 lakh shares on June 6.
Trading Tweaks
Price Band revised from 5% to 10%: D.B. Corp.
Price Band revised from 5% to 20%: Man Industries.
Ex/record Dividend: Dr. Lal Path Labs, Nelco.
Ex/record bonus: Motilal Oswal Financial Services.
Moved in short-term Framework: Finolex Cables, KNR Construction.
Moved out short-term Framework: SMS Lifescience India.
Who’s Meeting Whom
Astro Microwave Products: To meet analyst and Investors on June 13, 14.
Rhi Magnestia India: To meet analyst and Investors on June 11.
ITD Cementation: To meet analyst and Investors on June 14.
DLF: To meet analyst and Investors on June 13.
F&O Cues
Nifty June futures up by 1.9% to 23,325.15 at a premium of 35 points.
Nifty June futures open interest down by 2.5%.
Nifty Bank June futures up by 1.01% to 49,908 at a premium of 105 points.
Nifty Bank June futures open interest up by 0.34%.
Nifty Options June 13 Expiry: Maximum Call open interest at 24,000 and Maximum Put open interest at 23,000.
Bank Nifty Options June 12 Expiry: Maximum Call Open Interest at 53,000 and Maximum Put open interest at 47,000.
Securities in ban period: Balrampurchini Mills, SAIL, Zee Entertainment Enterprises.
Money Market Update
The Indian currency strengthened by 10 paise to 83.37 against the US dollar.
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
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