Stock Market Today: Top 10 things to know before the market opens on 19th june
Keeping up the momentum from the last week’s closing at a record high level, the market is likely to open marginally higher on June 19 as the SGX Nifty indicates a positive start for the broader index, with a gain of 6 points after opening the session at 18,927 points.
SGX futures touched a high of 18,975 in early trade today.
The BSE Sensex jumped 467 points to 63,385, while the Nifty50 finally cleared the resistance of 18,800 and climbed 138 points to 18,826 in the previous close.
Both the indices are few points away from their previous intraday record high.
According to the pivot point calculator, the Nifty may find support at 18,742, followed by 18,705 and 18,646.
If the index advances, then 18,859 will be the key resistance, followed by 18,896 and 18,955.
Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today.
We have collated a list of important headlines across news platforms, which could impact Indian as well as international markets.
SGX Nifty
The SGX Nifty indicates a marginally higher start for the broader index with a gain of 6 points on Monday.
SGX futures stood at 18,900.
US Markets
Stocks slipped on Friday as Wall Street closed out a huge week in which investors received a pause on rate hikes from the Federal Reserve, plus encouraging inflation data.
The S&P 500 ticked down 0.37 percent to close at 4,409.59, while the Dow Jones Industrial Average slipped 108.94 points, or 0.32 percent, to close at 34,299.12.
The Nasdaq Composite lost 0.68 percent to finish the session at 13,689.57.
European Markets
European stock markets closed higher on Friday as investors digested the latest monetary policy decision from the European Central Bank.
The pan-European Stoxx 600 index ended 0.5 percent higher, with most sectors and major bourses closing in positive territory. Household goods stocks led gains with a 1.8 percent uptick, while mining and technology stocks ended down 0.6 percent and 0.3 percent, respectively.
FTSE closed 0.19 percent higher at 7642 points.
DAX closed 0.41 percent higher at 16,357 points.
Asian Markets
Asia-Pacific markets largely fell on Monday, with Japan’s markets still hovering near 33-year highs.
The Nikkei 225 has posted weekly gains for the last 10 weeks but slipped 0.14 percent at the open on Monday along with the Topix, which was down 0.1 percent.
South Korea’s Kospi dropped of 0.41 percent, while the Kosdaq was 0.5 percent lower.
Australia bucked the trend, with the S&P/ASX 200 higher by 0.2 percent.
Hong Kong’s Hang Seng index looks to start the week lower, after the index saw a strong rally last week.
HSI futures stood at 19,988, compared to its last close of 20,040.37.
Asian investors will be looking ahead to China’s loan prime rate decision on Tuesday, after the world’s second largest economy cut some of its key lending rates last week.
On the diplomatic front, US Secretary of State Antony Blinken is in Beijing on a diplomatic mission to repair strained ties between the US and China.
Direct tax collections at Rs 3.8 lakh crore, up 11.2% so far in FY24
The Union government has collected Rs 3.8 lakh crore in the form of direct taxes in the first two-and-a-half months of 2023-24, the finance ministry said on June 18.
As per the ministry, as on June 17, the direct tax collected was 11.2 percent higher compared to the same period last financial year. This comprised of corporate tax mop-up of Rs 1.57 lakh crore and personal income tax – including Securities Transaction Tax – of Rs 2.22 lakh crore.
Primary Market Action | 4 IPOs to hit Dalal Street this week
The primary market will remain active this week, as we will have four IPOs hitting Dalal Street with one on the main board and three in the SME segment.
Gujarat-based healthcare services provider Aatmaj Healthcare will be the first initial public offering opening this week on June 19.
It is a fixed-price issue.
The company is planning to raise Rs 38.40 crore by issuing 64 lakh shares at a price of Rs 60 per share.
The offer will close on June 21 and list on the NSE Emerge on June 30.
Sebi calls for urgent action against Zee Entertainment promoters in its reply to SAT
Market regulator Sebi in its reply to the Securities and Appellate Tribunal (SAT) on the Zee Entertainment Enterprises Ltd’s plea has called for urgent action against the promoters in the alleged fund diversion case to safeguard the management, investors and other stakeholders.
In its affidavit, the Securities and Exchange Board of India (Sebi) pointed out that the applications made by Chairman Emeritus Subhash Chandra and Managing Director and CEO Punit Goenka on July 6, 2022, that “there was no urgency and that the same issue is the subject matter of the show cause notice dated July 6, 2022, is completely false and misleading.”
Oil prices
Oil rose on Friday and posted a weekly gain, as higher Chinese demand and OPEC+ supply cuts lifted prices, despite expected weakness in the global economy and the prospect for further interest rate hikes.
Brent crude gained 94 cents to settle at $76.61 a barrel. U.S. West Texas Intermediate (WTI) crude rose $1.16 to $71.78. Brent posted a weekly gain of 2.4 percent and WTI rose 2.3 percent.
Dollar
The Dollar index traded 0.18 percent higher in futures at 102.30, whereas the value of one dollar hovered near Rs 81.92.
Gold
Gold prices were choppy on Friday as investors juggled a hawkish Federal Reserve outlook on interest rates, which offset support from the dollar’s overall retreat this week.
Spot gold edged up 0.1 percent to $1,958.83 per ounce by 12 p.m. EDT (1800 GMT), en route to a 0.1 percent weekly dip.
U.S. gold futures settled nearly unchanged at $1,971.20.
FII and DII
Foreign institutional investors (FII) purchased shares worth Rs 794.78 crore, while domestic institutional investors (DII) bought shares worth Rs 681.33 crore on June 16, provisional data from the National Stock Exchange shows.
ByMoneycontrol
