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18 June 2021: Pre Market Report: Positive start to the market today. Will it sustain?

Good Morning, everyone, Yesterday the market opened with a gap down at 15648 & closed the day higher at 15691. Read about it in the post-market report if you have not read it already by clicking here.

The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 74 points gain.

U.S. technology shares jumped on Thursday on optimism around a speedy economic recovery, although the Federal Reserve’s unexpectedly hawkish message on monetary policy kept the S&P 500 subdued. The Dow Jones Industrial Average was down 192.50 points, or 0.57%, at 33,841.17 and the S&P 500 was up 2.35 points, or 0.06%, at 4,226.05. The Nasdaq Composite was up 152.87 points, or 1.09%, at 14,192.55.

Asian markets were mixed in Friday morning trade following an overnight drop for the Dow Jones Industrial Average on Wall Street. In Japan, the Nikkei 225 gained 0.14% while the Topix index slipped 0.55%. South Korea’s Kospi traded fractionally higher. The S&P/ASX 200 in Australia advanced 0.17%.

According to pivot charts, the key support levels for the Nifty are placed at 15,615.7, followed by 15,540. If the index moves up, the key resistance levels to watch out for are 15,768.2 and 15,845.

The Indian rupee saw its biggest single-day fall in more than two months on Thursday while bond yields rose as the US Federal Reserve stunned investors by signaling it might raise interest rates as early as 2023, faster than assumed. The partially convertible rupee ended at 74.0775 per dollar, down 1 percent compared with its close of 73.3225, after touching 74.08, its lowest since May 3.

Gold on Thursday plunged Rs 861 to Rs 46,863 per 10 grams reflecting muted global trends. Silver also declined Rs 1,709 to Rs 68,798 per kg. In the international market, Gold shed more than 2 percent, precipitating a sell-off across precious metals with palladium set for its worst day in over a year, as the dollar gained ground after the US Federal Reserve struck a strict tone on monetary strategy.

The devastating second wave of the coronavirus pandemic in April-May is estimated to have cost the nation Rs 2 lakh crore in terms of output, revealed an assessment made by the Reserve Bank.

The consumer confidence among urban Indians has shown mild recovery in June 2021 with a slight uptick of 1.4 percentage points, over the previous month, according to the monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI).

Stocks with a high delivery percentage yesterday.

A high delivery percentage suggests that investors are showing interest in these stocks.

Results on June 19

NTPC, Amtek Auto, Arihant Superstructures, Galaxy Bearings, Kernex Microsystems, Muthoot Capital Services, Simplex Castings, and Vakrangee will release quarterly earnings today.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 879.73 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 45.24 crore in the Indian equity market on June 17

Stock Specific News

PowerGrid Corporation of India | The company’s Q4FY21 consolidated net profit rose 6 percent to Rs 3,526.23 crore from Rs 3,313.47 crore, revenue increased to Rs 10,816.33 crore from Rs 10,507.65 crore, YoY. The company’s board recommended the issue of bonus shares in the ratio of 3:1.

Max Financial Services: Promoter entity Max Ventures Investment Holdings sold 78,28,217 equity shares in Max Financial at Rs 1,000.08 per share. The government of Singapore bought 60,13,487 equity shares in Max Financial at Rs 1,000 per share

Nazara Technologies | The company will buy a 69.82 percent stake in Publishme, a full-service games marketing and publishing agency, for Rs 20 crore.

Natco Pharma | The company’s Q4FY21 net profit fell 43.1 percent to Rs 53 crore from Rs 93.2 crore, while revenue declined 27.2 percent to Rs 331.3 crore from Rs 454.8 crore, YoY.

Coal India | The company is debating on hiking coal price for the regulated sector and may take a call soon, PTI reported quoting a senior official.

Jammu & Kashmir Bank | The bank reported standalone profit at Rs 315.75 crore in Q4FY21 against a loss of Rs 294.1 crore in Q4FY20. Net interest income fell to Rs 917.42 crore from Rs 987.24 crore, YoY.

Tube Investments of India | The company reported higher consolidated profit at Rs 160.4 crore in Q4FY21 against Rs 59.76 crore in Q4FY20, revenue jumped to Rs 2,732.82 crore from Rs 1,031.01 crore YoY. The company approved fresh long-term borrowing of Rs 200 crore for FY22 by way of issue of privately placed secured non-convertible debentures, in one or more tranches.

Novartis India | The company’s Q4FY21 net profit rose 43 percent to Rs 9.7 crore from Rs 6.78 crore, while revenue increased to Rs 99.29 crore from Rs 93.7 crore, YoY.

Khadim India | The company reported consolidated profit at Rs 11.52 crore in Q4FY21 against a loss of Rs 19.87 crore in Q4FY20. Revenue rose to Rs 269.95 crore from Rs 158.2 crore, YoY.

HealthCare Global Enterprises | The company’s Q4FY21 net profit jumped to Rs 113.76 crore from Rs 50.44 crore, while revenue rose to Rs 297.04 crore from Rs 269.5 crore, YoY.

Mangalam Organics | CRISIL has reaffirmed long-term rating for various credit facilities of the company at 'A-' and upgraded outlook to Positive from Stable.

Hindustan Media Ventures | The company’s Q4FY21 net profit declined 20.1 percent to Rs 22.07 crore from Rs 27.62 crore, while revenue fell 8.41 percent to Rs 161.75 crore from Rs 176.61 crore, YoY.

Advanced Enzyme Technologies | Plutus Wealth Management LLP acquired 11 lakh equity shares in Advanced Enzyme at Rs 400.06 per share on the NSE. Promoter Advanced Vital Enzymes was the seller in a deal, offloading 14 lakh equity shares at Rs 400.17 per share on the NSE and 17 lakh shares at Rs 400.43 per share on the BSE, the bulk deals data showed.

Datamatics Global Services | The company will complete the acquisition of a 49.50% stake in Cybercom Datamatics Information Solutions in one or more tranches on or before September 30, 2021.

5paisa Capital | Ankit Fitkariwala has been appointed as Chief Business Officer and Product Head of 5paisa Capital.

Jump Networks | The company approved a rights issue of Rs 49 crore.

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