Indian markets are expected to see a gap open on Thursday, amid widespread selling in global markets. Even as the US Federal Reserve maintained its status quo, global markets collapsed on profit taking and inflation fears.
The US Federal Reserve, while maintaining the status quo on rates and the bond buying program, has expressed concern about inflation and has indicated that it is halting the most common bond buying program. early as possible. The Dow Jones Industrial Average fell 265.66 points, or 0.77% overnight, while the S&P 500 edged down 0.54% or 22.89 points and the technology-focused Nasdaq Composite , fell 0.24% or 33.17 points.
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Although these indices recovered from the day’s low, Asian markets opened on a low note.
The SGX Nifty at 15,662 indicates a loss of at least 100 points on Nifty futures at the opening. The Nifty futures contract closed on Wednesday at 15,790.20. Most of the Asia-Pacific markets are down. The markets of Japan, Korea, Hong Kong, Australia and Taiwan fell 0.3% to 1.3% in the first trades on Thursday.
Sahaj Agrawal, Head of Research – Derivatives at Kotak Securities, for short-term traders, an aggressive trade has yet to be triggered for the index as stock-specific moves continue; advice on keeping control over leveraged positions. “For investors, the general sentiment remains positive and it is advisable to buy in the event of a significant drop. Any correction due to the outcome of the FED meeting remains an opportunity for accumulation. IT and consumer products remain strong while some BFSI shares can be bought at current levels, ”he added.
Actions to watch
Ashiana Housing Ltd has acquired and executed a registered deed of sale on certain land with an area of approximately 22.1 acres in Wazirpur, Sector 93, Gurgaon Manesar Urban Complex, Gurgaon, Haryana. A group housing project is planned on this land with a potential salable area of approximately 21 lakh square feet, with a floor space index of approximately 17 lakh square feet.
ISGEC has received an order for the manufacture of aboveground pipe coils from Tata Projects Limited. The broad scope includes the manufacture of over 115,000 factory-made pipe coils with a diameter of 115,000 inches of premium metallurgy, viz. Alloy of steel, stainless steel and Incoloy for a major project in the hydrocarbon sector.
Sequent Scientific: India Ratings and Research (Ind-Ra) has upgraded Sequent Scientific Limited’s long-term issuer rating to “IND A +” from “IND A” with a “positive” outlook.
The Krishna Institute of Medical Sciences (KIMS) IPO was subscribed 0.27 times at the end of the first day. The IPO, which was opened for subscription on Wednesday at a price range of 815 to 825, will close on Friday. KIMS Hospitals raised 955 crore from 43 key investors ahead of the opening of its first IPO. The 2,144 crore public offering includes a new share issue worth up to 200 crore and an offer for sale (OFS) of 2.35 crore shares by its existing promoters and shareholders.
Dodla Dairy’s IPO, which opened for subscription on Wednesday, was subscribed 1.4 times at the end of day one. The IPO carries a price range of 421 to 428 per share. It includes a new issue totaling up to 50 crore of OF and an OFS of 1.09 crore of shares, of which 92 lakh shares held by TPG Dodla Dairy Holdings Pte. Ltd. Offers may relate to a minimum of 35 shares. Dodla Dairy raised 156 crore from 18 major investors at the upper price range of 428 per share. The company allocated 36.46 lakh capital shares at the top price.
The IPO of (ESB-PME) Navoday Enterprises Ltd, a marketing and event management company, ends today. So, so far it has been subscribed 1.68 times. The IPO price was set at 20 coin. The company plans to raise 46 crore and the market lot is 6,000 shares. The share will be listed on the ESB-PME. The show will close on Thursday.
Times Green Energy (India) Limited, a Hyderabad-based company, launched its IPO on Wednesday in which it expects to raise ₹ 4.05 crore. The company has set an issue price of 61 yen per share with a par value of 10 yen. The show closes on June 22. The issue has so far been subscribed 0.66 times. The shares will be listed on the ESB-PME platform.
The results corner
Albert David, Aruna Hotels, Basant Agro Tech, Bimetal Bearings, DB Corp, Gyscoal Alloys, Global Vectra Helicorp, HealthCare Global Enterprises, Hindustan Media Ventures, IFB Agro Industries, Indostar Capital Finance, Jammu & Kashmir Bank, Khadim India, Kingfa Science, Nava Bharat Ventures, Natco Pharma, Novartis India, Oceanic Foods, Power Mech Projects, Power Grid Corporation, Royal Orchid Hotels, Siel Financial Services and Tube Investments of India will release their quarterly results on June 17.