The Indian stock market is expected to open in the green as the Nifty futures were trading around 15,736 level on the Singaporean Exchange, up 125 points.
The BSE Sensex was down 354.89 points at 52,198.51, while the Nifty50 fell 120.30 points to 15,632.10 and formed bearish candle on the daily charts as the closing was lower than opening levels.
Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:
Wall Street stocks posted their second straight daily gain on Wednesday, with robust corporate earnings and renewed optimism about the U.S. economic recovery fueling a risk-on rally.
The Dow Jones Industrial Average rose 286.01 points, or 0.83%, to 34,798, the S&P 500 gained 35.63 points, or 0.82%, to 4,358.69 and the Nasdaq Composite added 133.08 points, or 0.92%, to 14,631.95.
Shares in Asia-Pacific were higher in Thursday morning trade, with markets in Japan closed for a holiday. Hong Kong’s Hang Seng index was among the biggest gainers regionally, rising 1.19% in early trade. The Taiex in Taiwan also gained 1.01%.
Trends on SGX Nifty indicate a gap-up opening for the index in India with a 125 points gain. The Nifty futures were trading at 15,736 on the Singaporean Exchange around 07:30 hours IST.
ADB cuts India's FY22 economic growth forecast to 10%; inflation seen rising marginally to 5.5%
The Asian Development Bank (ADB) has downgraded India's economic growth forecast for the current financial year to 10 percent on Tuesday, from 11 percent projected earlier this year, mainly on account of the adverse impact of the coronavirus pandemic.
"Early indicators show economic activity resuming quickly after containment measures eased. The growth projection for FY2021 (ending March 2022), downgraded from 11 percent in ADO 2021 to 10 percent, reflects large base effects," it said. The ADO was released in April.
Meanwhile, the inflation forecast for Asia and the Pacific this year has been raised to 2.4 percent, from 2.3 percent in April, reflecting rising oil and commodity prices. The projection for 2022 remains at 2.7 percent, it added.
SEBI comes out with framework on segregation, monitoring of collateral at client level
Markets regulator SEBI on Tuesday came out with a framework for segregation and monitoring of collateral at client level amid instances of misuse of client collateral by trading members. Also, it has put in place a reporting mechanism that will entail disaggregated information -- segment-wise and asset type wise break-up -- of each client collateral, according to a circular.
The measures will help in further strengthening the mechanism of protection of client collateral from misuse by trading member (TM) or clearing member (CM) and default of such members and other clients.
Glenmark Life Sciences IPO price band fixed at Rs 695-720, to raise Rs 1,513.6 crore
Glenmark Life Sciences, the subsidiary of pharma major Glenmark Pharmaceuticals, will open its initial public offering for subscription on July 27. This is the 29th public offering to hit Dalal Street in the current year 2021. The price band for the offer, which will close on July 29, has been fixed at Rs 695-720 per equity share, as per the information available in daily business newspapers. The IPO comprises a fresh issue of Rs 1,060 crore and an offer for sale of 63 lakh equity shares by promoter Glenmark Pharmaceuticals. The fund raising comes to Rs 1,513.6 crore at a higher price band.
The company will utilise fresh issue proceeds for payment of outstanding purchase consideration to the promoter for the spin-off of the API business from the promoter into the company pursuant to the Business Purchase Agreement dated October 9, 2018 (Rs 800 crore), and funding capital expenditure requirements (Rs 152.76 crore).
Anand Rathi Wealth files IPO papers with SEBI
Anand Rathi Wealth Ltd, part of Mumbai-based financial services group Anand Rathi, has filed preliminary papers with capital markets regulator SEBI to raise funds through an initial share sale. The initial public offer (IPO) is entirely an offer for sale of 1.2 crore equity shares by promoters and existing shareholders, draft red herring prospectus (DRHP)filed with SEBI showed on Tuesday.
Those offering shares in the offer for sale are -- Anand Rathi Financial Services Limited, Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust, Jugal Mantri, and Feroze Azee.
Results on July 22
Hindustan Unilever, UltraTech Cement, Bajaj Auto, Agro Tech Foods, Bajaj Holdings & Investment, Biocon, Can Fin Homes, Chennai Petroleum Corporation, CSB Bank, Heidelbergcement India, Hindustan Zinc, ICICI Lombard General Insurance Company, Indian Energy Exchange, IIFL Securities, IndiaMART InterMESH, India Pesticides, Lloyds Steels Industries, Bank of Maharashtra, Mahindra EPC Irrigation, Mphasis, Persistent Systems, Music Broadcast, Shiva Cement, South Indian Bank, Sterlite Technologies, and Wockhardt.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 2,834.96 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 873.14 crore in the Indian equity market on July 20, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Six stocks - Cadila Healthcare, Canara Bank, Indiabulls Housing Finance, NALCO, NMDC, and Sun TV Network - are under the F&O ban for July 22. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.With inputs from Reuters & other agencies