An Asian equity index fell on Friday amid mixed US Federal Reserve policy signals on the likely pace of interest-rate hikes, while the dollar climbed as the spotlight fell again on geopolitical tension.
MSCI Inc.’s Asia-Pacific share index shed less than 0.5%. Moves across Japan, China and Hong Kong were fairly muted. S&P 500, Nasdaq 100 and European futures slipped after Wall Street shares posted a small gain on Thursday.
A greenback gauge hovered around a one-month high. Indonesian President Joko Widodo said China’s Xi Jinping and Russia’s Vladimir Putin plan to be at a Group of 20 summit in Bali later this year. That sets up a showdown with US President Joe Biden and other leaders as Russia continues its war in Ukraine.
Treasury yields drifted higher. Oil, gold and Bitcoin dropped. Later Friday, a $2 trillion options expiration could stir volatility in global markets.
Stocks To Watch
RIL/ONGC/Other Oil Stocks: The government hiked windfall profit tax on diesel to Rs 7 per litre from Rs 5. It also brought Rs 2 per litre tax on ATF exports after scrapping it in the last review. Tax on domestically produced crude oil cut to Rs 13,000 per ton from Rs 17,750.
IEX/NTPC/PFC/REC/Other Power stocks: Power System Operation Corporation has asked three power exchanges — IEX, PXIL and HPX — to restrict electricity trading by 27 discoms in 13 states having outstanding dues towards gencos, PTI reported.
Wipro: The company has been awarded a multi-year contract to deliver Service Integration and Management services to HM Treasury.
Adani Total Gas: The company reduced prices of PNG and CNG upto Rs 3.2 per SMC and Rs 4.7 per Kg respectively.
Metropolis Healthcare: The company’s Chief Executive Officer Vijender Singh has resigned and Nov. 30 will be his last working day.
Insider Trades
Geojit Financial Services: Promoter BNP Paribas SA sold 3.16 lakh shares between August 12 and August 16.
Aditya Vision: Promoter Group Rashi Vardhan sold 13,280 shares on August 16.
LG Balakrishnan & Bros: Promoter Nithin Karivardhan sold 10,000 shares on August 17.
Apcotex Industries: Promoter Group Rita Ashok Parekh bought 1,650 shares on August 17.
Vaibhav Global: Promoter Group Brett Enterprises bought 4,000 shares on August 17.
Godrej Agrovet: Promoter Godrej Industries bought 1.17 lakh shares between August 12 and August 16.
Bulk Deals
Repco Home Finance: Graviton Research Capital LLP sold 3.2 lakh (0.51%) shares at Rs 204.55 apiece.
Embassy Office Parks REIT: ICICI Prudential Mutual Fund bought 11.86 crore (1.25%) shares and American Balanced Fund sold 29.26 crore (3.08%) shares at Rs 357 apiece.
Sona BLW Precision Forgings: Government of Singapore and SBI Mutual Fund bought 30.68 lakh (0.52%) shares and 87 lakh (1.48%) shares respectively at Rs 505 apiece. Singapore VII Topco LII sold 7.94 crore (13.5%) shares at Rs 509 apiece.
Who’s Meeting Whom
Amber Enterprises India: To meet investors and analysts on August 19.
Tube Investments of India: To meet investors and analysts on August 23.
Sansera Engineering: To meet investors and analysts on August 19 and August 22.
Black Box: To meet investors and analysts on August 19.
Heranba Industries: To meet investors and analysts on August 19.
Greenply Industries: To meet investors and analysts on August 22.
Power Mech Projects: To meet investors and analysts on August 22.
Avanti Feeds: To meet investors and analysts on August 22.
Route Mobile: To meet investors and analysts on August 22 and August 23.
AGMs today
Advanced Enzyme Technologies
Aptus Value Housing Finance India
Emami Paper Mills
Indusind Bank
Jamna Auto Industries
Trading Tweaks
Record-Date Dividend: Can Fin Homes, Reliance Industries, Pfizer, Oil & Natural Gas Corporation, The Karnataka Bank
Record-Date Interim Dividend: Trident, Dynamatic Technologies, Tanla Platforms
Ex-Date Final Dividend: Astral, Bharat Petroleum Corporation, Chambal Fertilizers & Chemicals, Eclerx Services, Hindustan Aeronautics, Kitex Garments, Marksans Pharma, Oriental Carbon & Chemicals, Power Grid Corporation of India, Sun Pharmaceutical Industries, Tips Industries
Ex-Date Dividend: Gujarat Gas, Tilaknagar Industries
Ex-Date Interim Dividend: Natco Pharma, SP Capital Financing
Money Market Update
The rupee ended at Rs 79.68 against the U.S. Dollar on Thursday as compared to Wednesday's closing of Rs 79.44
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