Stock Market Updates HDFC Securities

The S&P 500 and Nasdaq closed lower on Thursday. Stocks retreated after a rally to all-time highs prompted calls for a near-term pullback amid signs of buyer fatigue.

Economic data released on June 20 indicated that unemployment in the US continues to rise. The Labor Department reported that fillings for jobless benefits reached 238,000 for the week ended June 15, up 5,500 from the previous week. This is the highest level since September 2023.

The Bank of England kept interest rates unchanged at 5.25 percent, which came in line with the market’s expectations. Traders are betting the Bank of England will cut rates in August after dovish signals from policymakers.

The Union Cabinet has approved an increase in the Minimum Support Prices for 14 crops for the upcoming Kharif season.

Asian stocks fell after US shares closed lower overnight.

Private equity firm Olympus is looking to offload 5 percent via a block deal of around US$ 100 million in Aster DM Healthcare.

Sula Vineyards aims for double-digit growth aided by premiumisation shift

SEBI its interim order barring JM Financial from acting as a lead manager for any new public issue of debt securities

Nifty recovered from previous day’s fall and ended higher in a volatile session on June 20. At close,
Nifty was up 0.22% or 51 points at 23,567. Nifty could now stay in the 23,413-23,664 band for the near term.

Indian markets could open flat to mildly lower, in line with mostly negative Asian markets today and negative US markets on June 20

European stocks and US equity futures paused Wednesday as traders looked for fresh catalysts to extend the latest tech-driven gains. Financial markets in the U.S. were closed Wednesday on account of Juneteenth Day.

China left benchmark lending rates unchanged at a monthly fixing on Thursday, in line with market expectations.

Asian shares were muted following a rally in the previous session as investors sought new triggers after a holiday in the US.

Sun Pharmaceutical Industries Ltd. received Warning Letter from US FDA for its Dadra facility.
Asia Opportunities Fund and General Atlantic are likely to sell a combined 4.2% stake in PNB Housing Finance
MAS Financial Services Ltd is launching a qualified institutional placement (QIP) worth Rs 400 crore

Nifty gave up early gains to end minorly in the negative after a volatile session on June 19. At close, Nifty was down 0.18% or 41.9 points at 23516. Nifty could stay in the 23290-23664 band for the near term.

Indian markets could open flat to mildly higher, in line with mildly positive Asian markets today

U.S. stocks finished higher on Tuesday as the S&P 500 and the Nasdaq Composite posted fresh records ahead of the Juneteenth holiday on Wednesday. Nvidia Corp.'s stock surged 3.5%, with the company reaching a valuation of nearly $3.34 trillion.

The AI chipmaker was the most valuable U.S. company by market capitalization as of Tuesday afternoon, overtaking megacap tech players Microsoft Corp. and Apple Inc.

Fitch Ratings revised India's growth forecast for the ongoing financial year from 7% projected in March to 7.2%. In its latest global economic outlook report released on Tuesday, the agency attributed this upward revision to elevated consumer confidence boosting spending levels and a rise in investments across sectors.

Asian equities rose Wednesday after a rise in chipmakers drove US stocks to yet another record-breaking session on Wall Street.

Coal India exploring lithium assets in Argentina with U.S. company
Ami Organics launches QIP with floor price of Rs 1,228, aims to raise Rs 500 crore.
Radico Khaitan to launch Rampur Asava Indian Single Malt Whisky in India

Nifty saw another day of records as it extended gains to the fourth session on June 18. At close, Nifty was up 0.39% or 92.3 points at 23557.9. Nifty is yet to show any reversal signal. Nifty could stay in the 23334-23690 band for the near term.

Indian markets could open higher, in line with mostly positive Asian markets today and higher US markets on June 18

The S&P 500 and Nasdaq scored record closing highs on Monday as technology shares rallied on enthusiasm over artificial intelligence ahead of this week's economic data and Federal Reserve officials' speeches that could shed light on monetary policy.

Crude oil prices surged nearly $2 a barrel on Monday to their highest settlement levels in over a month, adding to last week's gains as investors grew more optimistic on the demand outlook.

The country’s largest lender State Bank of India (SBI) has raised its marginal cost of funds-based lending rate (MCLR) by 10 basis points (bps) or 0.1 per cent across all tenures, a move that will lead to an increase in EMIs for borrowers.

The Indian government has cut the windfall tax on petroleum crude to Rs.3,250 per metric ton from Rs.5,200, effective June 15.

Asian stocks gained on Tuesday after a rally in several large technology companies drove US stocks to another record high and ahead of a chorus of Federal Reserve officials due to speak later in the day.

BHEL secures Rs 7,000 crore orders from Adani Power for two power plants
Alembic Pharma received final approval for Icatibant Injection,
Coromandel International to develop soil test based nutrient advisory for farmers of Maharashtra
Nifty ended at a fresh closing high in the last session of the eventful week on June 14.

At close, Nifty was up 0.29% or 66.7 points at 23465.6. Nifty formed a long legged doji on daily charts on June 14 suggesting possibility of a reversal.

A move above 23490 could nullify the bearish indication on daily charts. We think Nifty could stay in the 23290-23695 band for the near term with a mild bullish bias.

Indian markets could open higher, in line with mostly positive Asian markets today and higher US markets on June 17.

U.S. stocks closed mostly higher on Wednesday, helped by a softer-than-expected consumer-price index reading and signs that the US Fed could start to cut interest rates this year. The US Fed acknowledged modest further progress toward the Committee’s 2 percent inflation objective.

The committee, in its closely watched “dot plot” of individual participants’ rate expectations, did indicate a more aggressive cutting path in 2025, with four reductions totaling a full percentage point anticipated, up from three.

The S&P 500 topped 5,400 for the first time in its history, with Wednesday marking the 20-month anniversary of the bull market.

India's industrial output growth slowed to 5 percent in April from 5.4 percent in March. The IIP growth rate in April 2023 was 4.6 percent.

Asian markets rose on Thursday after the US Fed kept its benchmark federal rates unchanged for the seventh time, and as US inflation data came softer than anticipated.

Nestle India will continue paying general licence fee, or royalty, at the existing rate of 4.5%, net of taxes, to Swiss parent Société des Produits Nestlé S.A.

Brigade targets a total development value of Rs 13,000 crore from its Chennai residential portfolio
Manappuram Finance expects gold loan growth of 12-18% for FY25

Nifty snapped a two-day fall and closed higher on June 12. At close, Nifty was up 0.25% or 58.1 points at 23322.9.

Nifty touched another all-time high in the early part of the session on June12 but gave up most of the gains during the day. It could now stay in the 23206-23442 band for the near term. An upward breach of this band is likely in the near term.

Indian markets could open higher, in line with mostly positive Asian markets today and mostly higher US markets on June 12

U.S. stocks finished mostly higher on Tuesday, helped by shares of Apple Inc. as the iPhone maker surged to a new record.

Apple disclosed new artificial-intelligence features including an improved Siri virtual assistant

Investors looked ahead to the release of the May consumer-price index and the Federal Reserve’s policy announcement

China’s May consumer inflation rate came in at 0.3%, missing expectations of 0.4% by economists polled by Reuters. The figure was unchanged from April.

India’s May inflation rate is forecast to climb marginally to 4.89%, according to a poll of economists, slightly higher than April’s 4.83% increase.

Asian stocks ignored a positive US session and opened lower as a double event of US inflation data and the Federal Reserve decision landing later in the day kept traders on edge.

State Bank of has approved a plan for long-term fundraising of up to $3 billion.
Tata Motors announced on Tuesday its plans to invest between Rs 16,000 crore and Rs 18,000 crore into its electric vehicle (EV) division until 2029.
Blinkit, the quick commerce subsidiary of Zomato, is set to receive an infusion of Rs 300 crore in fresh capital from its parent company.

Nifty erased all its gains in the last hour of the session on June 11 after making a top at 1345 Hrs and ended little changed from previous day’s close. At close, Nifty was up 5.7 points at 23264.9.

Markets seem to be consolidating and Nifty could stay in the 23411-22930 band in this period.

Indian markets could open flat, in line with mixed Asian markets today and mostly higher US markets on June 11