Opening Bell:
SGX Nifty is up by 59.0 points in the early morning trade, indicating a positive opening for Indian stock market.
Asia-Pacific markets mostly fell on the final trading day of the first half of the year. The Dow Jones Industrial Average rose, lifted by shares of large banks jumping after passing the Federal Reserve’s annual stress test. Japanese stocks fell as investors digested Tokyo’s core consumer price index, which remained at levels above the central bank’s target for thirteen straight months. The Nikkei 225 fell 0.9% and the Topix slid 0.8%. In South Korea, the Kospi rose 0.1% while the Kosdaq shed 0.6%. In Australia, the S&P/ASX 200 fell 0.2%. Hong Kong’s Hang Seng index is set to open lower.
US equity futures were little changed on Thursday evening as investors awaited the latest data on personal consumption expenditures, the Federal Reserve’s favoured inflation gauge. Futures tied to the Dow Jones Industrial Average inched lower by 26 points, or 0.08%. S&P 500 futures ticked lower by 0.03%, and Nasdaq 100 futures were just above the flat line. In Thursday’s regular trading, the Dow jumped nearly 270 points, or 0.8%, with help from major bank names. The S&P 500 added close to 0.5%, and the Nasdaq Composite ended the day flat.
Stocks News:
👉ICICI Securities, and ICICI Bank: ICICI Bank said the board members have approved the draft scheme of arrangement for delisting of equity shares of ICICI Securities. The public shareholders of ICICI Securities will get 67 equity shares of the bank for every 100 shares held by them in ICICI Securities. As a result, ICICI Securities will become a wholly-owned subsidiary of the bank. The said transaction is expected to be completed within 12-15 months.
👉HDFC Life Insurance Company: Promoter Housing Development Finance Corporation has bought additional 1.65 crore equity shares or 0.77% stake in the life insurance company through open market transactions at an average price of Rs 674.87 per share. The stake buy was worth Rs 1,118.84 crore.
👉Adani Enterprises: Promoter entity SB Adani Family Trust has sold 1.8 crore equity shares or 1.57% stake in the company via open market transactions at an average price of Rs 2,300 per share. The stake sale was amounted to Rs 4,140 crore. Gautam S Adani and Rajesh S Adani on behalf of SB Adani Family Trust held 59.13 crore shares or 51.87% stake in the company as of March 2023.
👉Adani Green Energy: Goldman Sachs Trust II – Goldman Sachs GQG Partners International Opportunities Fund has bought an additional 1.19 crore equity shares or 0.75% stake in the renewable energy company via open market transactions at an average price of Rs 920.05 per share. However, promoter group entity Infinite Trade and Investment Ltd sold 4.6 crore shares or 2.9% stake in the firm at an average price of Rs 920.03 per share.
👉Foreign institutional investors (FII) bought shares worth Rs 12,350 crore, whereas domestic institutional investors (DII) sold shares worth Rs 1,021.01 crore on June 28, provisional data from the National Stock Exchange shows.
Domestic and International Events
- The rising pace of local economic activities along with stronger corporate sector balance sheets and efficient financial system has brightened the prospects of the Indian economy while the persistent core inflation above 5% and a potential volatility in the global financial system could pose risks to the growth trajectory, the Reserve Bank of India said in its financial stability.
- Securities and Exchange Board of India (Sebi) Chairperson Madhabi Puri Buch, on June 28, though not explicitly but indicated that the regulator might have played a role in NSE’s reversal of decision on shifting its Bank Nifty’s expiry day to Friday. Earlier in the week, NSE relented to BSE’s request to not shift the expiry of Bank Nifty contracts to Friday, which would have clashed with recently relaunched Bankex and Sensex futures and options contracts, leading to stifling their growth.
- Oil prices edged lower on Thursday, as fears that rising interest rates could dent global economic growth and crude demand offset a bigger-than-expected fall in U.S. inventories. Brent crude futures fell 38 cents, or 0.5 percent, to $73.66 a barrel by 1127 a.m. ET (1527 GMT). U.S. West Texas Intermediate (WTI) crude futures fell 47 cents, or 0.7 percent, to $69.09 a barrel.
- Gold regained some ground on Thursday as traders took advantage of a brief dip below the key psychological $1,900 level that was driven by a volley of robust U.S. economic readings. Spot gold edged up 0.2 percent at $1,911.69 per ounce by 11:25 a.m. EDT (1525 GMT). U.S. gold futures shed 0.1 percent to $1,919.80.
Key Equity Indices
| EMERGING | LATEST | % 1D |
| Hang Seng | 18,934 | (1.2) % |
| Shanghai Composite | 3,182 | (0.2) % |
| DEVELOPED | LATEST | % 1D |
| Dow Jones | 34,122 | 0.8 % |
| DAX | 15,947 | (0.0) % |
| FTSE 100 | 7,472 | (0.4) % |
| Nikkei | 33,234 | 0.1 % |
| Straits Times | 3,207 | 0.1 % |
