Stock Market Today: All You Need To Know Going Into Trade On June 22

Asian stocks face downward pressure on Thursday after U.S. equities extended declines, with Federal Reserve Chair Jerome Powell sticking to the script of higher rates to combat inflation.

Contracts for benchmarks in Australia and Japan posted modest losses after both the S&P 500 and Nasdaq 100 fell for a third day Wednesday, with the tech-heavy benchmark bearing the brunt of the selloff, dropping more than 1%. Markets in Hong Kong and mainland China are closed Thursday for holidays.

Powell renewed his warning that higher rates were needed, telling Congress during his semi-annual report that two more rate hikes this year was “a pretty good guess.”

Meanwhile, Brent crude was trading above $77 a barrel and West Texas Intermediate slip below $73-mark. The yield on the 10-year U.S. bond was trading at 3.72%, whereas Bitcoin rose to 30,000-level.

At 05:28 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India was down 0.16% at 18,878.

Back home, the S&P BSE Sensex Index was up 196 points, or 0.31%, at 63,523.15, while the NSE Nifty 50 Index was 40 points, or 0.21%, higher at 18,856.85.

Overseas investors snapped two-day selling streak to turn net buyers of Indian equities on Wednesday. Foreign portfolio investors mopped up stocks worth Rs 4,013.1 crore, according to data from the National Stock Exchange. That's the biggest single-day buying since March 2, when FPIs net bought equities worth Rs 12,770.81 crore. Domestic institutional investors remained net buyers for the second straight day and bought equities worth Rs 550.36 crore, the NSE data showed.

• Tata Consultancy Services: Tata Consultancy Services and the U.K.’s Nest Pension expand their strategic partnership to provide an enhanced member experience. That, in turn, will provide better retirement outcomes for Nest’s 12 million members.

• Bharti Airtel: Bharti Airtel picks up a 12.07% stake in Egan Solar Power to seek a captive power plant for Rs 1.3 crore. The telecom giant aims to own and operate the captive power plant to comply with electricity laws.

• Sansera Engineering: Client Ebene and CVCIGP II Employee Ebene to sell 47.8 lakh shares (9%) and 26.8 lakh shares (5.1%), respectively. Shares are offered in the price range of Rs 799.85 to Rs 841.95 apiece, representing a discount of up to 5% to Wednesday’s closing price.

• NTPC: The company to consider raising Rs 12,000 via bonds on June 24.

• Kalpataru Projects International: The board approved raising Rs 300 crore via the issuance of unsecured, rated, listed, redeemable, and non-convertible debentures.

• Glenmark: The U.S. FDA has issued a warning letter to the Monroe facility in North Carolina. The company did a voluntary recall of all its products from this site in August 2021, and since then it has not been commercialising any products from this site. Hence, the warning letter will have no impact on the existing revenues, it said.

• Krishna Institute Of Medical Science: SBI Mutual Funds, under its various schemes, has acquired 52,08,276 shares of the company, which is 6.5% of the paid-up share capital of the company.

• Jindal Steel and Power: Promoter Siddeshwari Tradex revoked a pledge of 10.79 lakh shares on June 17.

• Mukand: Promoter Baroda Industries bought 22,565 shares between June 19 and 20.

• SOM Distilleries and Breweries: Promoter Deepak Arora bought 20,000 shares on June 21.

• Satia Industries: Promoter Ajay Kumar Satia bought 2.85 lakh shares between June 19 and 20.

• Pidilite Industries: Promoter Neerav Parekh sold 32,524 shares between June 19 and 20.

• Star Cement: Promoters Prahlad Rai Chamaria and Ratna Chamaria sold 10,000 shares each on June 19.

• Nitin Spinners: To meet investors and analysts on June 23 and June 24.

• Westlife Foodworld: To meet investors and analysts on June 26.

• BLS International Services: To meet investors and analysts on June 22.

• Uniparts India: To meet investors and analysts on June 23.

• IZMO: To meet investors and analysts on June 22.

• Radico Khaitan: To meet investors and analysts on June 22.

• Aptus Value Housing Finance India: To meet investors and analysts on June 22.

• Apollo Tyres: To meet investors and analysts on June 24.

• PB Fintech: To meet investors and analysts on June 22.

• Dixon Technologies: To meet investors and analysts on June 29 and June 30.

• Deep Industries: To meet investors and analysts on June 22.

AGMs Today:

• DCB Bank

• Himadri Speciality Chemical

• Nelco

• Shankara Building Products

• Voltas

• Aptus Value Housing Finance: Madison India Opportunities sold 80 lakh (1.6%) shares at Rs 246.45 apiece.

• Sula Vineyards: Quant Mutual Fund bought 5 lakh (0.6%) for Rs 470.99 apiece and Karishma Singh sold 5 lakh (0.6%) for Rs 471.03 apiece.

• Thyrocare Technologies: Societe Generale bought 2.96 lakh shares (0.55%) at Rs 527.93 apiece.

• Shriram Finance: Piramal Industries sold 3.13 crore shares (8.32%), the Government of Singapore Investment Corporation bought 91.12 lakh shares (2.43%), Societe Generale bought 30.4 lakh shares (0.81%), BNP Paribas Arbitrage bought 21.26 lakh shares (0.56%), Ghisallo Master Fund bought 20 lakh shares (0.53%), Blackrock Global Funds World Financials Fund bought 19 lakh shares (0.5%), New World Fund bought 19.54 lakh shares (0.52%), and Aditya Birla Sun Life Mutual Fund bought 12.9 lakh shares (0.35%) at Rs 1,545 apiece, among others.

• Nifty June futures ended at 18,899.90, a premium of 35.2 points.

• Nifty June futures fell 5.08%, with 9,847 shares in open interest.

• Nifty Bank June futures ended at 43,945.90, a premium of 81.15 points.

• Nifty Bank June futures fell 1.7%, with 1,571 shares in open interest.

• Securities in the ban period: Bharat Heavy Electricals, Delta Corp., Hindustan Aeronautics, Hindustan Copper, L&T Finance Holdings, and Punjab National Bank

• Price Band Revised From 10% To 5%: PTC Industries

• Price Band Revised From 5% To 20%: NIIT

• Ex-Date Dividend: Tata Steel, Rainbow Children's Medicare, eMudhra, Tata Elxsi

• Ex-Date Annual General Meeting: Tata Steel, Rainbow Children's Medicare, eMudhra, Tata Elxsi, Orient Green Power Company

• Record-Date Dividend: Rainbow Children's Medicare

• Record-Date Annual General Meeting: Rainbow Children's Medicare

• Move Into Short-Term ASM Framework: DCX Systems

• Move Out Of Short-Term ASM Framework: KPI Green Energy, Tata Teleservices (Maharashtra)

Rupee appreciated 8 paise to close at 82.04 against the U.S. dollar on Wednesday.

• Oil And Gas Sector Check - Consumption Hitting Fresh Highs, Valuations Rich For Most Companies: Anand Rathi

• Shriram Finance, Mahindra Finance, Cholamandalam - In The Driving Seat: Dolat Capital Initiates Coverage

• Tata Steel - Strong Domestic Growth Story; Capacity Expansion Underway: Motilal Oswal

• Satin Creditcare - Out Of The Woods; The Stock Seems Attractive Compared To Its Peers, Says HDFC Securities

• Greenpanel Industries - Challenging Times Ahead, Performance Will Be Gauged Closely: Yes Securities

• Balkrishna Industries - A Quarter Of Consolidation Is Still Left: ICICI Securities

• PNB Housing Finance - Turnaround Progressing; Growth To Accelerate: Prabhudas Lilladher