Stock Market Today: All You Need To Know Before Going Into Trade On July 1

Most Asian markets declined Monday after data showed China's manufacturing activity struggled to come out of negative territory, raising concern about the world's second largest economy.

The Nikkei 225 was 0.50% higher as of 06:44 a.m. The S&P ASX 200 and KOSPI were trading 0.40% and 0.26% lower, respectively.

US stocks faced uncertainty as the quarter concluded, following a robust surge driven by speculation that the Federal Reserve may initiate rate cuts within the year.

The S&P 500 Index and Nasdaq Composite fell 0.12% and 0.41%, respectively as on Friday. Dow Jones Industrial Average declined 0.12%.

Brent crude was trading 0.28% higher at $85.24 a barrel. Gold was lower by 0.04% at $2,325.73 an ounce.

The GIFT Nifty was trading 14.5 points or 0.06% higher at 24,134.50 as of 06:47 a.m.

India's benchmark stock indices closed higher on a weekly basis for the fourth consecutive week, marking their best month so far in 2024. However, on Friday, they snapped their four-day record run to end lower.

On Friday, the Nifty closed 0.14%, or 33.90 points, lower at 24010.60, and the Sensex fell 0.27%, or 210.45 points, to end at 79032.73.

Overseas investors turned net sellers of Indian equities on Friday after a day of buying. Foreign portfolio investors offloaded stocks worth Rs 23.1 crore, according to provisional data from the National Stock Exchange.

Domestic institutional investors turned net buyers after a session of selling and mopped up equities worth Rs 6,658.3 crore, the NSE data showed.

The Indian rupee strengthened by 7 paise to close at 83.39 against the US dollar.

Meanwhile, the yield on the 10-year government bond closed flat at 7.01%, even as the JPMorgan Chase & Co. began adding domestic gilts to its benchmark emerging-market bond index.

• Bharat Electronics: The company received a contract worth Rs 3,172 crore from Vehicles Nigam to supply sighting and fire control systems for Indian Army tanks and received additional orders worth Rs 481 crore for meteorological equipment.

• Vodafone Idea: The telco joined its peers Reliance Jio and Bharti Airtel to raise rates for prepaid and post-paid consumers by 10–21%. The new plans will come into effect on July 4.

• Cochin Shipyard: The company’s unit signed a pact with Norway's Wilson ASA for constructing four 6,300 TDW dry cargo vessels and an agreement for four additional vessels to be formally contracted by Sept. 19, 2024. The overall project cost for eight vessels is about Rs 1,100 crore.

• UltraTech Cement: The company commissioned an additional 3.35 MTPA clinker and 1.8 MTPA grinding capacity at its Tadipatri unit in Andhra Pradesh. This increased the capacity of the grinding unit in Jharsuguda, Odisha, by 0.4 MTPA.

• Jindal Stainless: The company acquired a 100% stake in Sulawesi Nickel Processing Industries Holdings PTE, Singapore, for setting up a joint venture in Indonesia for investing, developing, constructing, and operating a stainless-steel melt shop in Indonesia.

• Tata Steel: The company converted its debt holding of $565 million in unit T Steel Holdings into equity.

• Titan: The company formed a 76-24 JV with Rhythm Jewellery in Bangladesh for manufacturing jewellery products.

• TVS Motor: The company acquired an additional stake in TVS Credit Services for Rs 283 crore.

• Dr. Reddy's Laboratories: The company partnered with Zydus Life for co-marketing of the Pertuzumab biosimilar.

• Orchid Pharma: The company partnered with Cipla to launch the antibiotic Cefepime-Enmetazobactam in India.

• Godrej Properties: The company acquired leasehold rights for an 11-acre land parcel in Pune, offering a developable potential of 2.2 million square feet with an estimated revenue potential of Rs 1,800 crore.

• eMudhra: The company acquired 100% of US-based TWO95 International Inc. through its wholly owned subsidiary eMudhra Inc., USA, to strengthen the company’s presence and positioning in the US market.

• Coromandel International: The company unveiled Magnesium-Enriched Paramfos Plus in Bengaluru to boost crop yield and quality.

• GAIL (India): The company's advances its net-zero target for Scope-1 and Scope-2 greenhouses gas emissions to 2035.

• Vraj Iron and Steel: The public issue was subscribed to 119.04 times on day 3. The bids were led by institutional investors (163.9 times), non-institutional investors (208.81 times), and retail investors (54.93 times).

• Samhi Hotels: GTI Capital Alpha sold 1.03 crore shares (4.74%) at Rs 187.1 apiece, while Morgan Stanley Asia Singapore Pte bought 30.92 lakh shares (1.4%) at Rs 187.1 apiece, ICICI Prudential Mutual Fund bought 21.38 lakh shares (0.97%) at Rs 187.1 apiece, Abu Dhabi Investment Authority - Behave bought 11.35 lakh shares (0.51%) at Rs 187.1 apiece, JM Financial Mutual Fund bought 10.69 lakh shares (0.48%) and among others at Rs 187.1 apiece.

• HCL Technologies: Fidelity Investments sold 1.24 crore shares (0.45%), while ICICI Prudential Mutual Fund bought 69.52 lakh shares (0.25%), Morgan Stanley Asia Singapore PTE bought 10.31 lakh shares (0.03%), and Citigroup Global Markets Mauritius bought 8.86 lakh shares (0.03%), among others, at Rs 1440.5 apiece.

• Solara Active Pharma Science: Authum Investment and Infrastructure Limited bought 20 lakh shares (4.16%) while, TPG Growth IV SF PTE sold 20 lakh shares (4.16%) at Rs 495 apiece.

• Aurobindo Pharma: The company’s unit acquired entire share capital of Ace Laboratories, UK, and made it a wholly owned subsidiary of Agile Pharma BV, The Netherlands.

• Borosil: Kiran Kheruka sold 16.32 lakh shares (1.36%) at Rs 318.08 apiece, Pradeep Kumar Kheruka sold 7.64 lakh shares (0.64%) at Rs 318.05 apiece, Rekha Kheruka sold 7.48 lakh shares (0.62%) at Rs 318.06 apiece, while Carnelian Asset Management & Advisors Private Limited bought 13.85 lakh shares (1.16%) at Rs 318.05 apiece, and Carnelian Structural Shift Fund bought 6.6 lakh shares (0.55%) at Rs 318.05 apiece.

• HFCL: Nextwave Communications sold 200 lakh shares (1.38%) at Rs 107.6 apiece.

• Neogen Chemicals: Haridas Thakarshi Kanani sold 14.95 lakh shares (5.66%) at Rs 1611.14 apiece, while Custody Bank of Japan Ltd. Re Rb Amundi India Small Cap Equity Mother Fund bought 7.7 lakh shares (2.91%) at Rs 1610 apiece, and India Acorn Icav bought 2.51 lakh shares (0.95%) at Rs 1610 apiece.

• Omaxe: Ebisu Global Opportunities Fund Limited bought 26.06 lakh shares (1.42%) at Rs 109.55 apiece, and Nomura Singapore Limited sold 26.06 lakh shares (1.42%) at Rs 109.5 apiece.

• Ugro Capital: Societe Generale bought 5 lakh shares (0.53%) at Rs 290.71 apiece.

• Deepak Nitrite: Promoter Ila D. Mehta bought 1.46 lakh shares on June 26.

• Tide Water Oil (India): Promoter Standard Greases & Specialities Private Limited bought 48,081 shares on June 27.

• Styrenix Performance Materials: Promoter Shiva Performance Materials sold 29 lakh shares on June 27.

• Star Cement: Promoter Laxmi Chamaria sold 84,354 shares on June 24 and 25.

• Saurashtra Cement: Promoter Promilla Khanna sold 80,000 shares between 19 and 26.

• Steel Exchanger India: Promoter Umashiv Garments sold 1 crore shares on June 26.

• Styrenix Performance Materials: Promoter Shiva Performance Materials created a pledge for 35.17 lakh shares.

• Price band changes from 5% to 20%: Tata Investment Corp., Wockhardt Pharma.

• Ex/record Dividend: GHCL Textiles, GHCL, Geojit Financial Services.

• Ex/record AGM: Tata Communications.

• Ex/record Demerger: Oriental Carbon & Chemicals.

• Moved to a short-term framework: PNB Gilts, Titagarh Rail Systems.

• IFGL Refractories: To meet analyst and Investors on July 3.

• Nazara Technologies: To meet analyst and Investors on July 3.

• Nifty July futures up by 0.15% to 24,132 at a premium of 122 points.

• Nifty July futures open interest up by 1.65%.

• Nifty Bank July futures down by 0.73% to 52,530 at a premium of 187 points.

• Nifty Bank July futures open interest up by 0.8%.

• Nifty Options July 4 Expiry: Maximum Call open interest at 25,000 and Maximum Put open interest at 23,000.

• Bank Nifty Options July 3 Expiry: Maximum Call Open Interest at 53,000 and Maximum Put open interest at 50,000.

• Securities in ban period: India Cement, Indus Tower.

The Indian rupee strengthened by 7 paise to close at 83.39 against the US dollar.