Stock Market Today: All You Need To Know Going Into Trade On June 5

Stocks in the news, big brokerage calls of the day, complete trade setup and much more!

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(Source: NEOM on Unsplash)

Asian markets were poised to climb on Monday after the S&P 500 rose to the cusp of a bull market amid strengthening bets for a Federal Reserve rate pause this month.

Oil rallied on a supply cut from Saudi Arabia. Crude jumped more 3% on the pledge to make an extra 1 million barrel-a-day reduction in July, which trims Saudi Arabia’s production to the lowest level for several years.

Equity futures for Japan, Australia and Hong Kong all rose more than 1%, suggesting early advances around the region. Contracts for U.S. benchmarks were little changed in Asia after further gains on Friday that were fueled by big tech, options positioning and Fed bets.

A mixed jobs report shaped the wagers on a Fed pause, with signs of labor-market slackening in May despite a pickup in hiring. As stocks rose on Friday, Wall Street’s “fear gauge” plummeted to pre-pandemic levels. The Cboe Volatility Index, or VIX, dropped below 15 from an average of 23 in the past year.

Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.69%. Crude advanced over 2% above $77-mark, while Bitcoin was trading around 27,000-level.

At 5:29 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India was up 0.48% at 18,717.5.

Domestic benchmark indices moved up after two days of decline with real estate, metals and PSU banking stocks leading the rally, managing to close marginally higher on a weekly basis. The Indian rupee closed higher against the U.S. dollar for the second day in a row as domestic equities gained and the greenback showed broad weakness.

Foreign investors remained net sellers for the second straight day and offloaded equities worth Rs 658.9 crore. On the other hand, domestic institutional investors were net buyers for the second day in a row and bought stocks worth Rs 581.9 crore.

Stock Market Today: All You Need To Know Going Into Trade On June 5
Nifty In Technical Charts: Uptrend To Continue

Stocks To Watch: Tata Chemicals, SBI Life Insurance, Zydus Lifesciences, Godrej Properties, Minda Corp In Focus

  • SBI Life Insurance: Insurance regulator IRDAI approved transfer of life insurance business of Sahara India Life Insurance Co. to SBI Life, with immediate effect.

  • Indian Overseas Bank: The Reserve Bank of India imposed a monetary penalty pf Rs 2.20 crore on the bank over regulatory non-compliance.

  • Tech Mahindra: The company’s subsidiary Comviva Technologies and step-down subsidiary Comviva Technologies B.V. have agreed to sell 0.04% and 99.96% shareholding, respectively in Comviva Technologies do Brasil Indústria, Comércio, Importação e Exportação to Druid Internet Systems Comércio E Serviços for an upfront payment of $20,000 and deferred payment of $1.42 million.

  • Tata Chemicals: The company signed an MoU with the Government of Gujarat to set up a 20 GW capacity lithium-ion cell manufacturing giga factory with an investment of Rs 13,000 crore, the state government said in a statement. The company will reorganise its U.S. operations to rationalise the number of intermediate entities.

  • Dish TV: The company cancelled the extraordinary general meeting scheduled on June 9 after the resignation of Zohra Chatterji from the position of non-executive independent director.

  • Zydus Lifesciences: The U.S. FDA inspection of the company’s animal health drug manufacturing facility at SEZ, Ahmedabad was closed with nil observations.

  • NTPC: The company declared on commercial operation the fifth and last part of 300 MW Nokhra solar PV project of NTPC Green Energy at Bikaner, Rajasthan with 50 MW capacity.

  • Godrej Properties: The company bought the remaining 26% stake in Godrej Home Constructions for Rs 14.99 crore, taking its total shareholding to 100%.

  • Minda Corporation: The company will raise Rs 600 crore through further issuance of securities through public and/or private offerings including preferential issue, qualified institutions placement, further public offer or any of the permissible modes.

  • Mahindra Lifespace Developers: Japan-based Omron Healthcare will start operations at Origins by Mahindra industrial cluster in Chennai by March 2025.

  • PI Industries: The company completed acquisition of 100% stake of Therachem Research Medilab (India) and Solis Pharmachem, as well as acquisition of certain identified assets of TRM U.S. by PI Health Sciences U.S.A.

  • Greenply Industries: The company approved disposal of Greenply Industries (Myanmar) assets due to difficulty in continuing its operation on account of political developments resulting in adverse business environment in Myanmar.

  • Lemon Tree Hotels: The company started two hotels in Agra and Bhopal, that will be managed by its subsidiary Carnation Hotels.

  • Indoco Remedies: The U.S. FDA determined the inspection classification of the company's sterile facility in Goa as Official Action Indicated, following an inspection from Feb. 20 to Feb. 28.

OPEC+ Latest: Saudis Unveil Extra 1 Million Barrel Cut

Bulk Deals

  • Jtekt India: Malabar India Fund sold 22.05 lakh shares (0.90%) at Rs 125.03 apiece.

OPEC Haggles Over Possible Output Cuts After Day One Of Meeting

Who’s Meeting Whom

  • UltraTech Cement: To meet investors and analysts on June 5.

  • Persistent Systems: To meet investors and analysts on June 8 and 9.

  • Rail Vikas Nigam: To meet investors and analysts on June 8.

  • Can Fin Homes: To meet investors and analysts on June 5, 6 and 9.

  • DCX Systems: To meet investors and analysts on June 9.

  • Gabriel India: To meet investors and analysts on June 5.

Adani Group To Provide Free School Education For Odisha Train Tragedy Victims' Children

Trading Tweaks

  • Price Band Revised From 20% To 10%: Hardwyn India

  • Ex-Date Bonus Issue: Hardwyn India

  • Record Date Bonus Issue: Hardwyn India

  • Ex-Date Stock Split: Hardwyn India

  • Record Date Stock Split: Hardwyn India

  • Ex-Date Interim Dividend: Shyam Metalics and Energy

  • Record Date Interim Dividend: Shyam Metalics and Energy

  • Move Into Short-Term ASM Framework: Hindware Home Innovation, Inox Wind Energy, Hardwyn India.

  • Move Out of Short-Term ASM Framework: Optiemus Infracom, Nucleus Software Exports

SEBI Proposals For FPIs: Experts Raise Jurisdictional, Enforcement Concerns

Insider Trades

  • Mukand: Promoter group Baroda Industries bought 49,852 shares between May 30-31.

  • Greaves Cotton: Promoter Karun Carpets bought one lakh shares on June 1.

  • Som Distilleries & Breweries: Promoter Deepak Arora bought 10,000 shares on June 2.

  • Usha Martin: Promoter Peterhouse Investments sold one lakh on May 31.

  • Advanced Enzyme Technologies: Promoter group Rasika Vasant Rathi bought 10,000 shares on May 29.

  • Pricol: Promoter group Pricol Engineering Industries bought 16.82 lakh shares betweem May 31-June 2.

  • PSP Projects: Promoter & Director Prahaladbhai S. Patel bought 25,000 shares May 30.

  • Star Cements: Promoter Group Rahul Chamaria sold 5,023 shares and Sachin Chamaria sold 5,057 shares on May 30.

  • Rajnish Wellness: Promoter Rajnish Kumar Singh bought two lakh shares on May 8.

Monsoon Misses Date With Kerala, IMD Expects Up To Four-Day Delay

Pledge Share Details

  • Jindal Steel & Power: Promoter group Siddeshwari Tradex released a pledge of 7 lakh shares on May 31.

Suzlon To Pick And Choose High Margin Orders; Execute 50% Order Book In FY24

F&O Cues

  • Nifty June futures ended at 18,633, a premium of 63 points.

  • Nifty June futures rose 2.81% and 4,956 shares in Open Interest.

  • Nifty Bank June futures ended at 44,074.95, a premium of 126.70 points.

  • Nifty Bank June futures rose 2.19% and 1,904 shares in Open Interest.

  • Securities added to the ban period: Nil

  • Securities removed from the ban period: Nil

Stock Market Today: All You Need To Know Going Into Trade On June 5
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Money Market Updates

Rupee closed 0.14% higher against the U.S. dollar at Rs 82.30 on Friday, compared to Thursday’s close of 82.41.

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Research Reports

Charting the Global Economy: Business Activity Slows In China