
Live: Sensex, Nifty Off Day’s High; Hexaware Up 20% On Delisting Proposal
F&O Snapshot: Active Options Contracts
- Nifty June futures add 4.5% and 4.55 lakh shares in Open Interest.
- Nifty Bank June futures add 13.2% and 1.78 lakh shares in Open Interest.
Nifty: June 11 Expiry
- 10,200 Call: Premium up 17.8% to Rs 93.85. The contract has added 5.41 lakh shares in Open Interest.
- 10,000 Put: Premium falls 21.6% to Rs 115.25. The contract has added 6.73 lakh shares in Open Interest.
- 10,100 Call: Premium up 17.8% to Rs 137. The contract has added 4.82 lakh shares in Open Interest.
Nifty Bank: June 11 Expiry
- 22,000 Call: Premium up 32.3% to Rs 139.5. The contract has added 2.65 lakh shares in Open Interest.
- 21,500 Call: Premium up 30.2% to Rs 244. The contract has added 2.4 lakh shares in Open Interest.
- 21,000 Call: Premium up 14.5% to Rs 361.9. The contract has added 2.13 lakh shares in Open Interest.
Markets At 10:20 A.M.
- Benchmark indices off the day's high
- Nifty up 0.4% at 10,070
- Sensex up 0.25% at 34,066
- Nifty Bank up 1% at 20,591
- Nifty Midcap Index up 0.8%
- Nifty Smallcap Index up 1.9%
- India Volatility Index down 1.4% to 29.27
- Nifty FMCG Index is the only sectoral laggard; down 0.4%
- Nifty Metal Index is the top sectoral gainer; up 2.8%
- Nifty Media and Nifty PSU Bank Index gain over 2% each
- Hindalco is the top Nifty gainer; up 5.2%
- TCS is the top Nifty laggard; down 2.1%
- 1,373 stocks on the NSE trade with gains while 281 decline
Stock Reaction: Hexaware Technologies
The company has informed the exchanges that promoters have offered to acquire all fully paid up equity shares of the company, held by public shareholders and de-list the stock from the exchanges.
Promoters of the company held 62.4% stake in the company as of March 31, 2020, the exchange filing said. Public shareholding stood at 37.6%.
The promoter / promoter group is considering a delisting price of Rs 285 per share, a 9.8% premium to Thursday's closing price.
The company will now convene a board meeting on June 12 to consider and approve the delisting proposal.
Shares are locked in an upper circuit of 20% at Rs 311.40, snapping a three-day losing streak.
Money Market Update
The rupee opened with gains on Friday after declining for two consecutive sessions this week.
The currency opened at 75.35 against the U.S. Dollar as compared to Thursday's close of 75.58.
Scotiabank believes that the rupee will trade in a range of 75-76 against the U.S. Dollar in the near-term. It also said that foreign reserves will keep rising as equity inflows remain strong.
In the bond market, traders will look forward to the release of the minutes of RBI's monetary policy meeting where it cut repo rates by 40 basis points.
India's central bank will also sell government bonds worth Rs 30,000 crore, including 2030 bonds worth Rs 18,000 crore.