Stock Market Today: Top 10 things to know before the market opens on 30th june
The market is likely to open marginally higher today as the SGX Nifty indicates a positive start for the broader index, with a gain of 20 points after opening the session at 19,150 points.
SGX futures touched a high of 19,170 points in early trade on June 30.
The BSE Sensex hit the 64,000 mark for the first time intraday, rising 499 points to 63,915, while the Nifty50 jumped 280 points to end at a record closing high of 18,972 in the last session and formed a bullish candlestick pattern on the daily timeframe.
The pivot point calculator suggests that the Nifty may get support at 18,891, followed by 18,856 and 18,798, whereas in the case of an upside, 19,005 can be a key resistance area for the index, followed by 19,041 and 19,098.
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 20 points on Friday. SGX futures stood at 19,170 points.
US Markets
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 percent.
S&P 500 futures ticked lower by 0.03 percent, and Nasdaq 100 futures were just above the flat line.
In Thursday’s regular trading, the Dow jumped nearly 270 points, or 0.8 percent, with help from major bank names.
The S&P 500 added close to 0.5 percent, and the Nasdaq Composite ended the day flat.
European Markets
European equity markets closed slightly higher Thursday as investors assessed commentary from leading central bankers on the need to continue the fight against inflation.
The pan-European Stoxx 600 ended the day 0.1 percent higher, with retail stocks adding 1.8 percent to lead gains on the back of robust earnings from H&M, while travel and leisure stocks fell 0.7 percent.
FTSE closed 0.38 percent lower at 7471 points. DAX closed 0.01 percent lower at 15,946 points.
Asian Markets
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.
A revised US gross domestic product print also helped lift the investor sentiment, alleviating recession fears on Wall Street.
Investors will look ahead to the latest data on personal consumption expenditures, the Federal Reserve’s favoured inflation gauge.
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 percent. In South Korea, the Kospi rose 0.1 percent while the Kosdaq shed 0.6 percent. In Australia, the S&P/ASX 200 fell 0.2 percent.
Hong Kong’s Hang Seng index is set to open lower.
Reliance Capital lenders approve Hinduja’s bid of Rs 9,661 crore for company
Reliance Capital’s Committee of Creditors (CoC) has given its approval to the resolution plan proposed by IndusInd International Holdings Ltd (IIHL) for the troubled financial services company, bringing a finality to the long-drawn insolvency resolution process of the company, multiple people aware of the development told CNBC-TV18.
According to sources familiar with the matter, IIHL, which is the investment arm of the Hinduja Group, received an overwhelming majority of votes from the lenders, with 99.6 percent in favor of its resolution plan for Reliance Capital (RCap). The voting process to approve the sole resolution plan ended on Thursday.
NSE-BSE showed maturity in reverting Bank Nifty expiry decision: Sebi’s Madhabi Buch
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.
ICICI Sec to become wholly-owned subsidiary of ICICI Bank. Check out share swap ratio
ICICI Securities on June 29 announced that the broking firm will delist and become a wholly owned subsidiary of its parent company ICICI Bank.
Public shareholders of ICICI Securities would be allotted 67 equity shares of ICICI Bank for every 100 equity shares of the company.
“The scheme is subject to receipt of requisite approvals from ICICI Bank and the company’s shareholders’ and creditors, Reserve Bank of India, National Company Law Tribunal, stock exchanges and other regulatory and statutory authorities,” the exchange filing stated.
Oil prices
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.
Dollar
The Dollar index traded 0.38 percent higher in futures at 103.29, whereas the value of one dollar hovered near Rs 82.07.
Gold
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.
Prices fell under $1,900 for the first time since mid-March after the data as the dollar index firmed 0.3 percent, making bullion less attractive for overseas buyers. Benchmark 10-year Treasury yields rose.
FII and DII
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.
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