Stock Market Today: All You Need To Know Going Into Trade On June 5

Stocks in the Asia-Pacific region traded with a mixed outlook following higher closure of Wall Street counterparts on renewed expectations of rate cuts by the Federal Reserve due to a cooling US labour market.

The Nikkei 225 declined by 454 points or 1.17% to 38,382, while the KOSPI increased by 21 points, or 0.8%, reaching 2,683 as of 06:35 a.m.

The bond market gained ground as indications of a cooling labour market fuelled speculation that the Federal Reserve might implement rate cuts this year, as reported by Bloomberg. US 10-year yields continued a four-day decline, reaching almost 30 basis points.

The S&P 500 saw a 0.15% rise, and the Nasdaq Composite advanced by 0.17% as of Monday. The Dow Jones Industrial Average also climbed by 0.36%.

Brent crude traded 0.10% lower at $77.44 a barrel. Gold edged up by 0.01% to $2,327.34 an ounce.

The GIFT Nifty traded 31 points, or 0.14% higher, at 22,069.5 as of 06:37 a.m.

Indian equity indices experienced their most significant decline in over four years, with poll trends suggesting a closer contest for the incumbent Prime Minister Narendra Modi government than anticipated. However, consumer goods stocks stood out as the sole gainers on Tuesday.

The NSE Nifty 50 concluded 1,379.4 points, or 5.93%, lower at 21,884.5, while the S&P BSE Sensex ended down 4,389.7 points, or 5.74%, at 72,079.

On Tuesday, overseas investors turned net sellers after two consecutive sessions of buying. Foreign portfolio investors offloaded stocks worth Rs 12,436.22 crore—the highest figure this year—while domestic institutional investors, who had been buyers for ten consecutive sessions, turned net sellers and sold equities worth Rs 3,318.98 crore, according to provisional data from the National Stock Exchange.

The Indian currency concluded 38 paise lower against the US dollar at 83.53.

• Hindalco Industries: US subsidiary Novelis said early on Wednesday that it plans to postpone its $945 million initial public offering, citing 'market conditions'.

• Wipro: The company announced that it has partnered with Zscaler to introduce Wipro Cyber X-Ray, an AI-assisted decision support platform.

• Hindustan Aeronautics: The Sukhoi 30 MKI aircraft crashed today while on a test sortie from the company's Nashik Division. Both pilots have been ejected safely; a technical snag was reported by the pilots.

• Tata Motors: The company incorporated the wholly owned unit TML Commercial Vehicles as part of the proposed demerger.

• NLC India: The company will consider raising a foreign currency loan of up to $600 million on June 10.

• Shilpa Medicare: The company's wholly owned subsidiary filed its first drug master file of recombinant human albumin 20% with the USFDA.

• Jindal Stainless: The company acquired a 100% stake in Evergreat International Investment.

• Container Corp: The company signed a MoU with Shipping Corp. to provide end-to-end logistics solutions.

• Kronox Lab Sciences: The public issue was subscribed to 24.58 times on day 2. The bids were led institutional investors (3.39 times), non-institutional investors (52.93 times), and retail investors (24.53 times).

• Hinduja Global Solutions: Aasia Exports sold 11.6 lakh shares (2.49%), Hinduja Group Limited bought 11.6 lakh shares (2.49%) at Rs 804 apiece.

• Multi Commodity Exchange: WF Asian Smaller Companies Fund Limited bought 4.97 lakh shares (0.97%) at Rs 3212.43 apiece.

• NCC: Small Cap World Fund Inc sold 54.02 lakh shares (0.86%) at Rs 265.13 apiece.

• Marksans Pharma: Promoter Sandra Saldanha bought 47,000 shares on June 3.

• Manappuram Finance: Promoter Nandakumar V P bought 2 lakh shares on June 3.

• Krishna Institute of Medical Science: Promoter Bhaskara Rao Bollineni created a pledge for 2.21 lakh shares on May 31.

• Ex/record dividend: Reliance Industrial Infrastructure, Manappuram Finance.

• Ex/record buyback: Sharda Motor Industries.

• Moved into short term Framework: Adani Power.

• Moved out of short-term Framework: Jana Small Finance Bank.

• Apar Industries: To meet analyst and Investors on June 11.

• Dr.Reddy's Laboratories: To meet analyst and Investors on June 10.

• Mahanagar Gas: To meet analyst and Investors on June 7.

• Home First Finance: To meet analyst and Investors on June 8.

• Natco Pharma: To meet analyst and Investors on June 10.

• Entero Healthcare Solutions: To meet analyst and Investors on June 7.

• Biocon: To meet analyst and Investors on June 5.

• Nifty June futures down by 6.12% to 21,908.15 at a premium of 23.65 points.

• Nifty June futures open interest up by 1.17%.

• Nifty Bank June futures down by 7.8% to 47,088.55 at a premium of 159.95 points.

• Nifty Bank June futures open interest up by 8.65%.

• Nifty Options June 6 Expiry: Maximum Call open interest at 24,700 and Maximum Put open interest at 20,200.

• Bank Nifty Options June 5 Expiry: Maximum Call Open Interest at 57,000 and Maximum Put open interest at 40,000.

• Securities in ban period: Zee Entertainment Enterprises Pending

The Indian currency closed 38 paise lower against the U.S. Dollar at 83.53.

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