Asian stock markets were trading mostly lower on Friday, ahead of Bank of Japan’s monetary policy statement.Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were likely to see a higher opening on Friday. In the previous session, headline indices posted record closing highs. The 30-share Sensex scaled a new closing peak of 53,159, and Nifty 50 settled at 15,924. Asian stock markets were trading mostly lower on Friday, ahead of Bank of Japan’s monetary policy statement. Japan’s Nikkei 225 fell nearly one per cent while the Topix index was down marginally. South Korea’s Kospi lost over half a per cent. In overnight trade, US stock indices ended mostly lower. The Dow Jones Industrial Average index gained 0.2 per cent, while S&P 500 and Nasdaq Composite fell
Zomato, an online food delivery platform, which launched its Rs 9,375-cr IPO on Wednesday, saw its issue get subscribed nearly 5 times on the second day of the bidding process. Today is the last day to bid for the IPO. The price band of Zomato IPO is fixed at Rs 72-76 per share of the face value of Rs 1 each. Ahead of the IPO, Zomato raised over Rs 4,196 crore from 186 anchor investors at Rs 76 each.
Highlights
There were several attempts made in last month or so to go pass the level of 15910; but every time markets were struggling to do this. Today, finally this level is breached and that too on a closing basis, bodes well for the bulls. BANKNIFTY managed to traverse 35810, which led to a breakout beyond 15910 for Nifty. The way we closed on Thursday, 16000 is merely a formality now. If there is no aberration on the global front, we are likely to continue this optimism. So let’s keep our fingers crossed and hope to reach the milestone in the forthcoming session only. As far as supports are concerned, 15900 followed by 15850 are to be seen as immediate levels. For the forthcoming session, keep your eyes on the psychological level of 36000 for BANKNIFTY. The moment we stay beyond it, banking could easily start leading from the front. Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking)
Equity market is cheering positive macro data points both on global and domestic front which is giving confidence to the investors of economic rebound. Market so far had been showing strong resilience even though it faced several headwinds. Q1FY22 earnings season has started off on a strong note and is providing support to the market. Since restrictions this time around was localized and less stringent v/s the lockdown in CY20, the impact in 1QFY22 seems to be contained. We expect earnings momentum to accelerate in FY22 as the pace of vaccinations picks up and the economy opens up further. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services
Domestic equities look to be modestly good as of now. Notably, dovish remark of Federal Reserve Chairman Powell in his testimony despite surge in inflation should offer comfort to global equities including India. Apparently, benchmark Nifty, which was consolidating in the range of 15,600-15,900 for last couple of weeks, is set to cross 16,000 levels shortly. In our view, higher crude prices, spread of delta plus variant globally and weakening INR could be a near risk for markets. However, we continue to believe that the underlying strength of market remains intact and therefore any meaningful correction in the market should be taken as an opportunity to get in quality stocks. Binod Modi, Head Strategy at Reliance Securities
IPOs of New age companies in Indian Market can attract global investors who have burnt their hands in Chinese New Age Cos ( Chinese new age cos have lost $ 800 billion market cap from top ). New age companies' successful listing can re-rate many existing companies which can pull market higher from current level. Nilesh Shah, Group President & MD, Kotak Mahindra Asset Management Company
BSE-listed companies such as HDFC Asset Management Company, Den Networks, GNA Axles, Just Dial, L&T Finance Holdings, Maximaa Systems, Starlog Enterprises, and Visagar Polytex will announce April-June quarter earnings on July 16.
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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The price of Petrol and Diesel were left unchanged at record highs on Friday by oil marketing companies. Petrol in the national capital now costs Rs 101.54 per litre, while Diesel in the capital city is retailing at Rs 89.87 per litre. Fuel prices have increased 40 times since May 4 and nine times this month. The price of petrol in Delhi has increased by Rs 10.85, while diesel price has surged Rs 10.80 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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Tatva Chintan Pharma Chem will launch its Rs 500-crore IPO at a price band of Rs 1073-1083 per share. The issue will open on July 16 and close on July 20, 2021. The public issue comprises fresh issue of shares worth Rs 225 crore and offer-for-sale (OFS) worth Rs 275 crore by existing promoters and shareholders. Investors can bid for a minimum of 13 equity shares and in multiples thereof.
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In overnight trade, US stock indices ended mostly lower. The Dow Jones Industrial Average index gained 0.2 per cent, while S&P 500 and Nasdaq Composite fell
Asian stock markets were trading mostly lower on Friday, head of Bank of Japan’s monetary policy statement. Japan’s Nikkei 225 fell nearly one per cent while the Topix index was down marginally. South Korea’s Kospi lost over half a per cent.
Broader markets continued to march higher on Thursday, setting fresh all-time highs on the weekly F&O expiry session. S&P BSE Sensex closed 0.48% higher at 53,158 points while the Nifty 50 index jumped 0.44% to end at 15,924. Broader markets participated in the rally with smallcap indices outperforming the benchmarks. Ahead of the last trading session of the week, SGX Nifty was up in the green, hinting at positive momentum ahead of the opening bell.
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