Global cues were positive on Monday morning.
(Image: REUTERS)Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices ended with gains on Friday, snapping their four-day losing streak to a halt. During the previous week, S&P BSE Sensex slipped 0.85% closing at 52,484 while the NSE Nifty 50 fell 0.87% and ended the week at 15,722. On Monday morning, SGX Nifty was up more than 80 points during the early hours of trade, hinting at a gap-up start for domestic equity markets. Global cues were positive as well after Wall Street indices zoomed on Friday and most Asian stock markets, except Nikkei 225 and TOPIX, mirrored the up-move.
Shares of India Pesticides will make their debut on the stock exchanges today. The initial public offering of the agrochemical firm was subscribed 29 times last month with retail investors bidding for the issue 11.3 times, while NII and QIBs subscribed to their portion 51 and 42 times respectively. Further, this week investors will also keep an eye out for two fresh initial public offerings (IPO). GR Infraprojects and Clean Sciences and Technology will enter the primary market to raise a total of Rs 2,509 crore. Both the IPOs are purely Offer For Sale (OFS) by existing shareholders of the companies and no fresh issue of equity shares is involved.
Highlights
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The price of Petrol was revised upwards for the second day straight on Monday by oil marketing companies. Petrol price in Delhi today stands at Rs 99.86 per litre, up 35 paise since yesterday. Diesel in the capital city is retailing at Rs 89.36 per litre today, up 36 paise. Fuel prices have increased 34 times since May 4 and thrice this month. The price of petrol in Delhi has increased by Rs 9.17, while diesel price has surged Rs 9.48 per litre since the rates started increasing. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.
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"Nifty50 index closed negative and remained in red throughout the week, but still it has gone nowhere. In fact, the index is finding strong demand around 15600 levels and trading in line with other emerging market indices. As long as we are trading above the current support which seems a more likely scenario, traders are advised to maintain a cautiously bullish bias and can initiate long positions around the support while keeping a stoploss just below 15560 levels. The immediate resistance is now placed at 15900," said Nirali Shah, Head of Equity Research, Samco Securities.
Commodity prices traded firm with most of the commodities in the Non-Agro segment kept firm trading range for the week. Bullion prices traded higher despite a stronger dollar while base metals traded mixed hovering in the upper trading range. Crude oil prices extended rally on stalled OPEC plus output decision.
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SGX Nifty was up more than 90 points ahead of the day's opening bell. Nifty futures trading higher hint at a strong opening for domestic markets.
Nifty futures were trading 100.50 points or 0.64 per cent higher at 15,848.50 on Singaporean Exchange, suggesting a positive start for BSE Sensex and Nifty 50. In the previous session, headline indices halted the four-day losing streak to end higher. BSE Sensex closed up at 52,484 while the 50-stock NSE Nifty close at 15,722. Analysts say the bulls seems to have come back gradually from the lower support on Friday. “Confirmation of bullish reversal by the way of follow-through upmove is likely to open further upside towards 15900 levels again in the near term. Immediate support is placed at 15650 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
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GR Infraprojects’ Rs 963-crore IPO will be available for subscription next week, in a price band of Rs 828-837 per share of face value of Rs 5, each. The public issue will open for subscription on Wednesday, 7 July 2021 and close on Friday, 9 July 2021. The equity shares of GR Infraprojects (GRIL) are likely to be listed on BSE and NSE. Upon listing, GRIL will join industry peers such as KNR Constructions, PNC Infratech, HG Infra Engineering, Dilip Buildcon, Ashoka Buildcon, IRB Infrastructure Developers and Sadbhav Engineering.
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Clean Sciences and Technology’s Rs 1,546 crore initial public offering (IPO) will open for subscription next week. Investors can bid for the issue in a price band of Rs 880-900 per equity share of face value Re 1 each. The IPO will open next week on July 7 and close on July 9 and will be purely an offer for sale (OFS) by existing shareholders, including promoters of the company. Clean Science and Technology manufactures specialty chemicals such as Performance Chemicals, Pharmaceutical Intermediates, and FMCG Chemicals. The firm had received SEBI’s nod last month.
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