Markets for the week ended lower by almost 1% after trading in the range of 15,620-15,900 with USDINR in strong uptrend. FIIs continued to be net sellers amidst record high valuations with comfort emanating from stabilizing Covid-19 cases in the domestic markets. Globally, Covid-19 cases have re-accelerated and markets retraced from record peaks. For the week all eyes will remain on 15,620 in Nifty for activation of follow up selling while 15,900-16,000 will remain resistance zone. The SGX Nifty is is indicating a gap-up opening of 74 points. OPEC+ will resume talks today after failing to reach a deal on output after the UAE opposed the pact
Most Asian stocks gained on Monday, extending the trading rally that took global equities to a record high after a U.S. jobs report signalled the economic recovery remained intact but didn’t yet warrant any immediate withdrawal of Federal Reserve stimulus. S&P 500 rises for a 7th straight day after strong jobs report, best winning streak in 10 months. Stocks rose on Friday and the S&P 500 hit another record high after the June jobs report showed an accelerating recovery for the U.S. labor market.
Stocks in news:
ONGC commits procurements of over Rs 300 bn, eases business procedures to promote local ventures, support ‘Aatmanirbhar Bharat’ initiative
Aban Offshore Default on loan from bank at Rs 6.87 bn, Total financial indebtedness at Rs 7.23 bn
Avenue Supermarts Says 1Q revenue increases 31% to Rs 50.3 bn from Rs 38.3 bn year ago
Bharat Forge Says Pay out cost Rs 633.2 mn for Chakan plant VRS plan
HCL Technologies To partner with Fiskars group for digital transformation
HDFC Says assigned loans to HDFC Bank of Rs 54.9 bn in 1Q FY22, Gross income from dividend Rs 160 mn,Profit on sale of investments Rs 2.63 bn
Tata Steel Transferred entire stake in TSAML to TSDPL unit and 26% stake held in HSMS to TSUIS unit
Vodafone Idea Investors still engaging With Vodafone Idea on Fundraising says CEO
Wonderla Holidays- Wonderla Resort in Bangalore is all set to reopen its business from July 5, 2021 with a 50% capacity as a crowd control measure.
Key Events Today:
10:30am: Markit India PMI Services for June, prior 46.4
10:30am: Markit India PMI Composite for June, prior 48.1
India Pesticides Ltd.’s shares to start trading after IPO gets 29 times demand for shares offered
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