Stocks fell in Asia Wednesday on heightened worries about a gloomy economic outlook, amid monetary policy tightening and rise in crude oil prices.
Equities fell in Japan, Australia and South Korea. US contracts were volatile after the S&P 500 tumbled and the tech-heavy Nasdaq 100 lost over 3%.
As of 7:30 am, the Singapore-traded SGX Nifty--an early barometer of India's benchmark Nifty 50--fell 1% to 15,695.50.
Oil held gains, hovering around $112 a barrel. In cryptocurrencies, Bitcoin settled near $20,000 amid generally poor sentiment.
Stocks To Watch
Reliance Industries: Reliance Jio Infocomm names Mukesh Ambani's son Akash Ambani as Chairman.
SBI/ICICI Bank: The banks will invest Rs 4.03 crore each to pick up 9.54% stake in Perfios, an account aggregator.
HDFC Bank: The bank will invest Rs 4.02 crore for 9.54% stake in Perfios.
Route Mobile: The company approved buyback of shares for an aggregate amount of Rs 120 crore. It will buyback 705,882 shares, representing 1.12% of the total paid up share capital at maximum buyback price of Rs 1,700 per share.
Jammu and Kashmir Bank: The bank will raise Rs 500 crore by equity and Rs 1500 crore via bonds in FY23.
ONGC: The company said four die and five rescued in helicopter accident.
Glenmark Pharma: The company's U.S. arm acquired four OTC ANDAs from Wockhardt.
Godawari Power & Ispat: The company has acquired 78.96% stake in Alok Ferro Alloys for Rs 126.98 crore.
Pledged Shares Details
Chambal Fertilisers & Chemicals: Promoter Group Simon India created a pledge of 1.77 lakh shares on June 23 and Promoter Zuari Industries created a pledge of 15.35 lakh shares between June 22 and June 23.
Thyrocare Technologies: Promoter Docon Technologies revoked a pledge of 3.76 crore shares and created a pledge of 3.76 crore shares on June 23.
Insider Trades
Manappuram Finance: Promoter & Director Nandakumar V P bought 56,000 shares on June 27.
Gati: Promoter Groups Bunny Investments and Finance Pvt. Ltd. sold 12,500 shares between June 23 and June 27.
Page Industries: Promoter & Directors Sunder Genomal sold 6,429 shares, Ramesh Genomal sold 6,487 shares and Nari Genomal sold 6,422 shares between June 23 and June 27.
Psp Projects: Promoter Group SPP Family Trust bought 9,000 shares on June 27.
Star Cement: Promoter & Director Prem Kumar Bhajanka bought 4,149 shares on June 24.
Nuvoco Vistas Corporation: Promoter Niyogi Enterprise bought 3 lakh shares between June 24 June 27.
Vijaya Diagnostic Centre: Promoter Sura Surendranath Reddy bought 31,000 shares on June 27.
Bulk Deals
JTEKT India: JTEKT Corporation sold 13 lakh (0.53%) shares at Rs 77.6 apiece.
Who’s Meeting Whom
Heidelberg Cement: To meet Franklin Templeton Mutual Fund on June 29.
Annual General Meeting today:
Asian Paints
HDFC Asset Management Company
Mindspace Business Parks REIT
Polycab India
Sundaram Fastners
Balaji Amines
Prism Johnson
Eveready Industries
Bombay Dyeing & Manufacturing
Agro Tech Foods
Trading Tweaks
Price Band Revised from 20% To 10%: Spandana Sphoorty Financial
Ex-Date Dividend: Sona Blw Precision Forgings
Ex-Date Annual General Meeting/Dividend: Tata Steel Long Products, Sundaram Finance Holdings, Vaibhav Global
Record Date Annual General Meeting/Dividend: SKF India
Money Market Update
The rupee ended at Rs 78.78 against the U.S. Dollar on Tuesday as compared to Monday's closing of 78.34
F&O Cues
Nifty June futures ended at 15,859, a premium of 8.8 points.
Nifty June futures shed 8.16% and 13,854 shares in Open Interest.
Nifty Bank June futures ended at 33,698.95, a premium of 56.5 points.
Nifty Bank June futures shed 19.67% and 11,757 shares in Open Interest.
Securities in ban list: Sun TV, Delta Corp.
Research Reports
Concor - Well Placed To Capitalise On The DFC Opportunity: Motilal Oswal
M&M - Mahindra Scorpio N, A Third Blockbuster, Potential To Create ‘Wow’ Factor: IDBI Capital
Bajaj Consumer Care - Weak Rural; Though Category Headwind Still Persist: Centrum Broking
Rico Auto Industries - Growth Visibility Remains Strong: HDFC Securities Initiates Coverage
Dr. Reddy’s - Foray Into Injectables To Provide Growth Impetus: Axis Securities