SGX up, Sensex, Nifty may start in green; RIL AGM, Shyam Metalics, Sona BLW listing, F&O expiry key events

F&O expiry, RIL AGM, along with COVID-19 vaccination pace, crude oil prices, rupee movement against US dollar and other global cues will set the tone for domestic markets. Image: Reuters

BSE Sensex and Nifty 50 were likely to see a positive opening on Thursday, a day of weekly options expiry. Nifty futures surged higher in trade, rising 27.50 points or 0.18 per cent to 15,723 on Singaporean Exchange. F&O expiry, RIL AGM, along with COVID-19 vaccination pace, crude oil prices, rupee movement against US dollar and other global cues will set the tone for domestic markets today. Chartists believe that the short term trend of Nifty 50 is weak with range bound action. “The overall market breadth and broad market indices are showing resilience compared to benchmark Nifty. The present weakness is expected to be over in the next 1-2 sessions and the market could bounce up again from the lows. Immediate support is placed at 15600 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.

New shares listings: Shyam Metalics and Energy, and Sona BLW Precision Forgings (Sona Comstar) will make stock market debut on June 24. Analysts expect Shyam Metalics to open with strong listing gains as its IPO gained strong response from the investors. While Sona Comstar may see moderate gains over the IPO price.

RIL 44th AGM: RIL will hold its 44th AGM virtually at later in the day. Mukesh Ambani-led oil-to-telecom conglomerate said it will send its annual report FY21, notice of the AGM and the standalone and consolidated audited financial statements for FY21, along with the Board’s report, auditors’ report and other documents in electronic mode to the members of the company. Company is likely to announce plans for the oil-to-chemical (O2C) telecom, digital and retail verticals.

Global watch: Asian stock markets were seen struggling in early trade on Thursday. Japan’s Nikkei 225 was trading flat while the Topix index slipped 0.11 per cent. China’s Shanghai composite fell 0.28 per cent while the Shenzhen component was down 0.34 per cent. In overnight trade on Wall Street, Down Jones ended in red while S&P 500 and Nasdaq settled in the green. The Dow Jones Industrial Average was down 0.03 per cent, the S&P 500 was up 0.03 per cent, and the Nasdaq Composite gained 0.11 per cent.

Call, PUT OI: Maxim call open interest was seen at 15,800 strike with 1.09 lakh contracts, followed by 15,900 strike with 87,205 contracts. Maximum put OI was at 15,500 strike with 71,470 contracts, and then at 15,600 strike with 62,875 contracts.

FIIs net buyers in Indian stock market: On Wednesday, foreign institutional investors (FIIs) lapped up shares worth Rs 3,156.53 crore, while domestic institutional investors (DIIs) bought shares to the tune of Rs 1,317.20 crore on a net basis in the Indian share market.