RIL, telecom and IT lead the market rally as 19 of 30 Sensex stocks end the day in the green
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Axis Bank seeks shareholders nod to raise Rs 50,000 crore via debt, equity
Private sector lender Axis Bank plans to raise up to Rs 50,000 crore through debt securities and equity share to maintain adequate level of capital for risk weighted assets and fund business growth. Under the proposal, Axis Bank will raise Rs 35,000 crore through debt securities in Indian or foreign currency, while Rs 15,000 crore to be raised through issuance of equity shares or securities convertible into equity shares, Axis Bank said in a regulatory filing.
Gold bond issue price fixed at Rs 4,852 per gm
The issue price for the Sovereign Gold Bond has been fixed at Rs 4,852 per gram of gold, the Reserve Bank of India said in a statement on Friday. The Sovereign Gold Bond Scheme 2020-21-Series IV will be opened for subscription for the period between July 6 and July 10. The central bank in April had announced that the government will issue Sovereign Gold Bonds (SGBs) in six tranches beginning April 20 till September.
Here’s who bought and sold what in some of the key bulk deals of the day. Nextpact sold 5,81,767 shares in Authum Investment Infrastructure at Rs 82.45 per share, while Anil Buchasia and Khazana Tradelinks bought 98,000 and 4,35,000 shares in the company at the same price, respectively.
Gold imports plunge to $79.14 million during April-May 2020
Gold imports, which have a bearing on the current account deficit (CAD), plunged significantly to $79.14 million during the first two months of 2020-21 due to a significant fall in demand in the wake of the COVID-19 pandemic, according data from the commerce ministry. Imports of the yellow metal stood at $8.75 billion in the corresponding period of 2019-20.
Govt likely to hike liquidity package for discoms to Rs 1.25 lakh crore
The government is likely to enhance the liquidity package for distribution utilities to Rs 1.25 lakh crore from Rs 90,000 crore announced in May, according to a source. The liquidity package announced by Finance Minister Nirmala Sitharaman as part of more than Rs 20 lakh crore stimulus for COVID-19-hit economy, would be extended for payment of outstanding dues by two months till May 2020.
Forex reserves up by $1.27 billion to $506.84 billion
After falling in the previous week, the country's foreign exchange reserves rose $1.27 billion to $506.84 billion in the week ended June 26, according to the latest data from the RBI. In the previous week ended June 19, the reserves had dipped by $2.08 billion to $505.57 billion. The reserves had crossed the half-a-trillion dollar mark for the first time in the week ended June 5 after it had surged by a massive $8.22 billion and reached $501.70 billion.
Stocks @52-week highs
Over 130 stocks hit their 52-week high levels during the day. They included Balaji Amines, Balkrishna Industries, Bayer Crop, IDBI Bank, ITI, Reliance Power, Salasar Technology, Suzlon Energy, Syngene International and MCX, among others.
Negative interest rates to boost appeal of dividend stocks, gold
Investors in India may turn to dividend-yielding stocks or physical assets such as gold and property as excess liquidity drives real interest rates into a negative zone for the first time since 2013, according to Jefferies India Pvt. “Low yields and uncertain growth could drive outperformance of sustainable high-yielding stocks,” Mumbai-based analysts Mahesh Nandurkar and Abhinav Sinha wrote in a note to clients.
Where is Nifty headed?
Nifty closed the week with gains of more than 2 percent forming a bullish candle on the weekly chart. Index has good resistance near the 10700-10800 zone and one can use mentioned levels to book profit on every rise, said a technical analyst. “Support shifted to 10,500-10,400 zone so until it holds above these levels one can use buy on dip,” said Rohit Singre, Senior Technical Analyst at LKP Securities.
States' total market borrowing hit Rs 1.7 lakh crore in Q1FY21: Icra
Total market borrowing by the states hit Rs 1.7 lakh crore in the first quarter of this fiscal, compared to Rs 80,000 crore for the same period of the previous year, according to a report by ICRA on Friday. The increased amount was a substantial 31.5% higher than the Rs 1.3 lakh crore indicated in the borrowing calendar, reflecting the shock to the states’ revenues as consumption of non-essentials fell sharply during the lockdown, the report said.
Nifty support at 10,460 level: Manish Shah
Independent technical analyst Manish Shah sees Nifty50's support at 10,460 level. “A break below this level would send the index towards the 10,340 level. For now, the trajectory remains strong and Nifty should continue to move higher as long as it holds above 10,460 level,” said Shah.
Nifty opened positive on Friday and continued to form higher highs and lows for the fourth consecutive session. It remained consolidative for most of the session and traded in a range of 70 points between 10,562 and 10,631 levels. Finally, the index closed the last session of the week with a gain of around half a per cent, but formed a small body bearish candle, as it closed below its opening level.
The case showed that even one of the shrewdest investors in the world can be hoodwinked.
S&P BSE CAPITAL GOODS up nearly 2%. This is how the index stocks are trading
Rupee to trade in the 74.00 to 75.60 band in the near-term: Sugandha Sachdeva, Religare Broking
“The bias for the rupee has shifted towards appreciation, given the risk-on environment and significant flows in the market, and as strong data sets from the U.S. have weighed on the dollar. That should lead to the rupee testing levels of 74.30 and 74 eventually, having said that, we believe the RBI will step in at regular intervals, and will not be comfortable to see the rupee appreciate beyond the 73.90 to 74.00 band. We expect rupee to trade in the 74.00 to 75.60 band in the near-term,” said Sugandha Sachdeva, VP-Metals, Energy & Currency Research, Religare Broking.
S&P BSE Bankex dips into the red; RBL Bank and HDFC Bank worst performers
Here are the top gainers and losers in the real estate sector
Price as on 03 Jul, 2020 01:47 PM, Click on company names for their live prices.
Sensex off 150 points from day's high, HDFC twins top drags
Motherson Sumi tanks as board after group restructuring announcement
Price as on 03 Jul, 2020 01:33 PM, Click on company names for their live prices.
Govt may defer SUUTI stake sale in Axis Bank till Dec-end on Covid-19, S&P rating cut (Source: Cogencis)
Forex Center: This is how the major currencies are faring against each other
BSE Metal only sectoral index in the red; here are the winners & losers from the index
All auto stocks trading in the green. Tata Motors up 3%, TVS Motor 2.5%
Price as on 03 Jul, 2020 12:33 PM, Click on company names for their live prices.
Telecom stocks gain up to 3%; Airtel best performer
Price as on 03 Jul, 2020 12:16 PM, Click on company names for their live prices.
Sensex up over 200 points. This is how the 30-pack index moved in the morning session
S&P BSE Telecom biggest sectoral gainer, up over 2%. This is how the index stocks are faring
RIL gains as Jio scores its 12th cheque
Most tourism and hospitality stocks trading flat in today's trade
Price as on 03 Jul, 2020 11:36 AM, Click on company names for their live prices.
India's services sector activity contracts for fourth successive month in June: PMI
India's services sector activity remained in deep downturn in June as the COVID-19 pandemic curtailed intakes of new work orders and disrupted business operations, a monthly survey said on Friday. The IHS Markit India Services Business Activity Index was at 33.7 in June, up from 12.6 recorded in May.
HDFC MF says have nill exposure to NCDs issued by Essel Group now (Source: Cogencis)
Govt leaves small savings interest rates unchanged for July-Sept: Cogencis
Zydus says potential COVID-19 vaccine gets DGCI nod for human trials
Zydus, a part of the Cadila Healthcare group, on Friday said its indigenously developed COVID-19 vaccine candidate - ZyCoV-D - has successfully completed pre-clinical phase and has received permission from Indian authorities to conduct human trials. Cadila Healthcare up 0.50% on the BSE.
SBI Card jumps on entry in 5 NSE indices
Price as on 03 Jul, 2020 10:54 AM, Click on company names for their live prices.
"On the Nifty, 10,500 could be a level where you should be tending to book profit. But I still think there is juice for hitting 11,000 in July. It is the broader market again which I reiterate has been the real darling of the market and that is going to outperform in the next few weeks or months," Sanjiv Bhasin, Executive Vice President, IIFL Securities said.
Shares of HDFC Life Insurance Company advanced over 3 per cent in Friday’s early trade after NSE Indices, a subsidiary of the National Stock Exchange (NSE), decided to add the insurance company in the Nifty50 index with effect from July 31. On the other hand, Vedanta will be dropped from NSE’s benchmark index and other indices on account of the company’s proposed voluntary delisting.
Rupee at highest level since March 27, moves above 75 mark to 74.79 against US dollar
PI Industries launches QIP to raise Rs 2,000 crore
Agri-sciences company PI Industries has launched a qualified institutional placement or QIP to raise up to Rs 2,000 crore through share sale to institutional investors, bankers said. The QIP has been launched at an indicative price of Rs 1534 per share, about 2% discount to the last closing price of Rs 1562 on July 2, said bankers.
Voda Idea, SAIL, Tata Power among most active stocks on NSE
Price as on 03 Jul, 2020 09:23 AM, Click on company names for their live prices.
Intel Capital, the investment arm of global tech and semiconductor major Intel corporation, will pick up 0.39% equity stake in Jio Platforms for Rs 1,894.50 crore, making it the eleventh investor to pick up stake in RIL’s telecom and digital business in about two months.
Nifty futures on the Singapore Exchange traded 55 points, or 0.52 per cent higher at 10,603, in signs that Dalal Street was headed for a positive start on Friday.
DIIs buy Rs 909 cr worth of stocks
Net-net, foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 556.72 crore, data available with NSE suggested. DIIs were net buyers to the tune of Rs 908.64 crore, data suggests.
Hong Kong, China stocks build on gains at open
Hong Kong shares rallied out of the gate Friday morning, extending the previous day's surge, following a bumper US jobs report that lifted hopes for recovery from the virus crisis. The Hang Seng Index added 0.78 percent, or 195.09 points, to 25,319.28. The benchmark Shanghai Composite Index rose 0.43 percent, or 13.43 points, to 3,104.00 while the Shenzhen Composite Index on China's second exchange edged up 0.20 percent, or 3.98 points, to 2,020.03.
Japan stocks open higher
Tokyo stocks opened higher on Friday, extending rallies on Wall Street as investors cheered a solid rebound in US employment and encouraging news about progress towards a coronavirus vaccine. The benchmark Nikkei 225 index was up 0.64 percent, or 142.62 points, at 22,288.58 in early trade, while the broader Topix index advanced 0.61 percent, or 9.40 points, to 1,552.16.
Japan's service sector PMI slump eases as pandemic curbs lift
Japan's services sector extended activity declines for a fifth straight month in June, although the pace of contraction slowed significantly after a nationwide state of emergency was lifted, easing disruptions to businesses. The final Jibun Bank Japan Services Purchasing Managers' Index (PMI) rose to a seasonally adjusted 45.0 in June from 26.5 in May.
Asian stocks set to follow US jobs rally, China in focus
ian stocks were likely to track a firmer Wall Street session on Friday after strong U.S. jobs data although growing Sino-US tensions and a worrying surge in coronavirus cases is likely to cap gains. Japan's Nikkei 225 futures rose 0.45% and Australia's S&P/ASX 200 futures climbed 0.58%. E-mini futures for the S&P 500 rose 0.14%.
US stocks rise on better-than-expected jobs report
US stocks ended higher after data showed the economy added 4.8 million jobs in June.On Thursday, the Dow Jones Industrial Average advanced 92.39 points, or 0.36 per cent, to 25,827.36. The S&P 500 rose 14.15 points, or 0.45 per cent, to 3,130.01. The Nasdaq Composite Index was up 53.00 points, or 0.52 per cent, to 10,207.63
Nifty rejig: Vedanta out, HDFC Life in
Vedanta Ltd will be dropped from NSE's benchmark index Nifty 50 and other indices from July 31 on account of the company's proposed voluntary delisting. In its place, HDFC Life Insurance Company will be included in the Nifty 50 index, NSE Indices, a subsidiary of the National Stock Exchange (NSE) said in a statement.
Tech view: Nifty forms bullish candle
Nifty50 on Thursday failed to surpass the recent swing high 10,553 on a closing basis, even as the day marked the highest close for the index in 64 sessions. Analysts said the sentiment remains positive, but further buying is needed to instill confidence among traders.
Rupee spurts to 3-month high
The rupee surged by 56 paise to close at more than three-month high of 75.04 against the US currency, tracking weakness in the greenback and gains in domestic equities amid optimism over potential Covid-19 vaccine.
Sensex, Nifty on Thursday
Equity benchmark indices ended strong on Thursday following heavy buying in IT, auto and energy scrips. The BSE S&P Sensex closed 429 points or 1.21 per cent higher at 35,844 while the Nifty 50 edged up by 122 points or 1.17 per cent at 10,552. Most sectoral indices at the National Stock Exchange were in the positive zone with Nifty auto gaining by 2.8 per cent and IT by 2.6 per cent.
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