Opening Bell:
SGX Nifty is up by 43.5 points in the early morning trade, indicating a positive opening for Indian stock market.
Asia-Pacific markets are trading mixed on Friday after the S&P 500 and Nasdaq Composite posted a sixth-straight day of gains and investors in the region look to the Bank of Japan’s rate decision. Analysts from Bank of America wrote in a Wednesday note that they do not foresee any changes to the BOJ’s yield curve control policy, nor do they expect any changes to rates. In Japan, the Nikkei 225 slid 0.71%, Topix saw a smaller loss of 0.52%. Australia’s S&P/ASX 200 gained 0.44%. South Korea’s Kospi was up 0.25. The Hang Seng is up 0.71% while the Shanghai Composite gains 0.36%.
Stock futures inched lower on Thursday night as investors shifted focus from the Federal Reserve policy meeting earlier in the week to the next piece of economic data due Friday morning. Futures tied to the Dow Jones Industrial Average lost 48 points, or 0.1 percent. S&P 500 futures and Nasdaq-100 futures also both traded down about 0.2 percent.
Stocks News:
👉IKIO Lighting: The LED maker’s maiden public issue was subscribed 66.30 times during June 6-8 with qualified institutional buyers’ reserved portion being booked 163.58 times, high networth individuals 63.35 times, and retail 13.86 times. The issue is trading with a premium of 32 percent in the grey market.
👉TVS Motor Company: Company has sold its entire stake in Emerald Haven Realty Limited for a consideration of Rs 166.83 crore. The automaker held 43.54 percent stake in Emerald Heaven Realty. – The buyer is TVS Holdings Private Limited, a part of the promoter/ promoter group. Thai makes it a related party transaction.
👉Bharat Heavy Electricals: BHEL and Volvo Eicher Commercial Vehicles Limited (VECVL) signed an MoU for taking up a “Joint project for development & deployment of Type – IV Cylinders (Hydrogen / CNG) in Commercial Vehicle Segment.
👉Wipro announced the opening of its new 5G-Def-i innovation center in Austin, Texas, underscoring the company’s commitment to helping clients realize the benefits of 5G technology through safer, more sustainable, and compliant products and services.
👉Foreign institutional investors (FII) purchased shares worth Rs 3,085.51 crore, whereas domestic institutional investors (DII) sold shares worth Rs 297.88 crore on June 15, provisional data from the National Stock Exchange shows.
Domestic and International Events
- The AUM under pension schemes is expected to cross the landmark figure of Rs 10 lakh crore in the first half of this fiscal, helped by regular contributions from subscribers, PFRDA Chairman Deepak Mohanty has said. As per the latest figure, assets under management (AUM) -including National Pension Scheme (NPS), Atal Pension Yojana (APY) and NPS Lite – increased to Rs 9.58 lakh crore.
- Banks, LIC appoint SBI Capital Markets as merchant banker for stake sale in UTI mutual fund, say sources, three state-owned banks and Life Insurance Corporation of India (LIC) have appointed SBI Capital Markets Ltd as a merchant banker for the stake sale in UTI Asset Management Company (AMC) and the stake sale process will be completed in the next three to six months, people aware of the development told Money control on June 15.
- Oil prices gained about 3 percent to a one-week high on Thursday on a weaker US dollar and a jump in refinery runs in top crude importer China. Brent crude futures rose $2.47, or 3.4 percent, to settle at $75.67 a barrel, while US West Texas Intermediate (WTI) crude rose $2.35, or 3.4 percent, to settle at $70.62. Those were the highest closes for Brent and WTI since June 8.
- Gold bounced back from a three-month low on Thursday as the dollar and bond yields moved lower after US economic data, offering investors respite from a ‘hawkish pause’ on interest rates by the Federal Reserve. Spot gold last gained 0.78 percent to $1,958.1844 per ounce after having hit its lowest since March 17. US gold futures settled 0.1 percent higher at $1,970.7.
Key Equity Indices
| EMERGING | LATEST | % 1D |
| Hang Seng | 19,829 | 2.2 % |
| Shanghai Composite | 3,253 | 0.7 % |
| DEVELOPED | LATEST | % 1D |
| Dow Jones | 34,408 | 1.3 % |
| DAX | 16,290 | (0.1) % |
| FTSE 100 | 7,628 | 0.3 % |
| Nikkei | 33,485 | (0.1) % |
| Straits Times | 3,243 | 0.8 % |
