Nifty 50 began the session at 24,787.65, slipping 5.60 points or 0.02% from its previous close of 24,793.25, Bank Nifty opened at 55,566.70, down 10.80 points or 0.02% from its last close of 55,577.45, and Sensex started the day at 81,355.18, marking a slight decline of 6.69 points or 0.01% from its previous close of 81,361.87.
Global Indices
- DOW 30 slipped 44.14 points to close at 42,171.70, down by 0.10%.
- S&P 500 ended slightly lower by 1.85 points at 5,980.87, losing 0.03%.
- NASDAQ gained 25.18 points to finish at 19,546.30, up 0.13%.
- FTSE 100 declined by 51.67 points, settling at 8,791.80, a drop of 0.58%.
- DAX plunged 260.43 points to 23,057.40, falling 1.12%.
- NIKKEI 225 dropped sharply by 396.81 points to end at 38,488.30, down 1.02%.
Commodities Update
- Gold: Currently trading at ₹10,109 per gram.
- Silver: Up by ₹0.10, now at ₹112.10 per gram.
- Crude Oil: Prices have declined by 2.3%, reaching 76.88 compared to the previous close of 78.69.
Stock to watch:
- Sai Life Sciences: TPG Asia is likely to sell 6% stake of the company, the floor price of the deal is at Rs. 710 per share at a discount of 2.5% from current market price. The offer size of the deal at Rs 88.7 crore as per the term sheet.
- Nestle India: The company to consider and approve the proposal for issue of bonus shares in its board meeting on June 26.
- Mastek: The company announced the launch of ADOPT.AI, a comprehensive suite of AI solutions and services aimed at accelerating AI innovation and driving enterprise-wide AI adoption.
- Brigade Enterprises: Brigade Group’s workspace brand, BuzzWorks, strengthened its presence in Hyderabad with Infor India, signing up for a 24,000 square feet workspace at Auro Orbit, HITEC City.
- Biocon: The company closed its QIP, with issue price at Rs 330 per share. The issue price is at a 3% discount to floor price of Rs 340.2 per share.
- Kaynes Technology India: The company opened a QIP issue, approved floor price of Rs 5,625.75 per share. The deal size is Rs 1,600 crore.
- HDFC Bank: HDFC Bank’s non-banking subsidiary has set the dates for its much-anticipated ₹12,500 crore IPO, which will be open for subscription from June 25 to June 27.
Global events:
- Iran Fires Cluster Bomb-Bearing Missiles At Israel As Conflict Enters 8th Day.
- Israeli PM Benjamin Netanyahu stated that it’s up to the Iranian people to decide on regime change, though Israel might influence it.
- He emphasized Israel’s goals: eliminating nuclear and ballistic threats, noting that the regime’s collapse could result from ongoing operations.
- Air India will cut 15% of widebody flights from June 21 to July 15 due to voluntary safety checks and longer flight times from Middle East airspace closures. The goal is to restore schedule stability.
- Suspended routes until July 15: Delhi-Nairobi, Amritsar-London (Gatwick), Goa-London (Gatwick).
- Reduced frequency until July 15: Delhi-Toronto, Delhi-Vancouver, Delhi-San Francisco, Delhi-Chicago, Delhi-Washington (Dulles).
- China President Xi Jinping Says Ceasefire ‘Urgent Priority’ In The Middle East.
CHINA DATA WATCH
- 1-yr Loan Prime Rate Unchanged At 3% Vs Est Of 3%
- 5-yr Loan Prime Rate Unchanged At 3.50% Vs Est Of 3.50%
- Japan’s Core Inflation Rises To 3.7% Vs 3.5% MoM
Written By – Manideep Appana
