Gap-down opening for Sensex, Nifty
Asian markets are trading in red. Nikkei 225 and Hang Seng are down over 3% each. Shanghai Composite slipped 0.54%
Indian shares are poised to open sharply lower on Friday after reporting a majority vote for leaving the European Union, Asian markets slipped in early trading and the British currency plunged. The FTSE 100 seesawed violently and the pound was more volatile than even during the 2008-2009 financial crisis.
Asian markets are trading in red. Nikkei 225 and Hang Seng are down over 3% each. Shanghai Composite slipped 0.54%.
US stocks closed higher, led by bank shares, as Wall Street bet that Britain is voting to remain part of the European Union. The Dow Jones rose 230.24 points, or 1.29%, the S&P 500 gained 27.87 points, or 1.34%, to 2,113.32. The Nasdaq Composite added 76.72 points, or 1.59%.
Civil Aviation Minister Ashok Gajapathi Raju said, to deal with steep rise in airfares, capping would not be the answer as it would also push the floor prices at an ASSOCHAM event held in New Delhi.
Vodafone is planning to take a call on the timeline of initial public offer of its Indian arm. The company reportedly said that, “We have started IPO preparations, which includes conversations with banks, but no final decision has yet been taken as to whether or not we will IPO.”
Prime Minister Narendra Modi met President Xi Jinping of China on the sidelines of Shanghai Cooperation Organization Summit in Tashkent. President Xi welcomed India’s accession to the SCO and said it would strengthen it.
NITI Aayog CEO Kant and DIPP Secretary Abhishek to address at Traders Conference on E-Commerce & Digital Payments in New Delhi.
ONGC Petro additions Ltd (OPaL) is in talks with local and overseas petrochemical companies to sell as much as 25% in the company, according to reports.
ONGC Videsh Ltd are planning to buying a part of the $ 11 billion stake that Russia is selling in its biggest oil firm Rosneft, Petroleum Minister Dharmendra Pradhan reportedly said.
Among other stocks in focus:
Sun Pharma: The the Board of Directors of the Company at its meeting held on June 23, 2016 approved the buyback of its fully paid up equity shares. The buyback is being undertaken by the Company to return surplus funds to the equity shareholders and thereby, enhancing the overall returns to shareholders.
Essar Shipping Ltd: The company has announced that the Board of Directors of the Company at its meeting held on June 23, 2016 has passed the enabling resolution to sell older vessel(s) and/ or buy the younger vessel(s) for the Company.
JSW Energy: The company have reopened talks with the Jaypee Group on acquiring three power assets, according to reports.
State Bank of India: The bank has announced that a meeting of the Executive Committee of the Central Board of the Bank is scheduled to be held on June 29, 2016 at Mumbai to examine the status and decide on long term fund raising in single/multiple tranches up to US$ 1,500 million (US$ one thousand five hundred million) through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during the financial year 2016-17.
Advanta Ltd: The company announced that High Court of Gujarat at Ahmedabad has approved the Scheme of Amalgamation of Advanta and UPL Limited and their respective Shareholders and Creditors (“Scheme”) on June 23, 2016.
Omax Autos Ltd: The company has announced that Railway Division of the Company has successfully secured order for supply of Railway parts from Indian Railways for order value estimated between Rs. 90-100 Crores. Formal Purchase Order would be received by the Company in due course of time.
Aditya Birla Fashion and Retail: A division of Aditya Birla Fashion and Retail Limited (formerly known as Pantaloons Fashion & Retail Limited) (“Pantaloons”) added yet another international brand Izabel London to its rich portfolio of exclusive brands.
Indiabulls Housing Finance Ltd: The Company proposes to issue 500 Secured Non-Convertible Redeemable Debentures with a face value of Rs. 10 lakh each aggregating to Rs. 50 Crores (Plus Greenshoe Option), on Private Placement basis, pursuant to special resolution passed by the shareholders of the Company at the 10th Annual General Meeting held on September 07, 2015, on the terms and conditions.
Global Data: BOJ Deputy Governor Nakaso Speech SPEECH JPY, EUR Gross Domestic Product (YoY) (Q1),EUR Gross Domestic Product (QoQ) (Q1), EUR Producer Price Index (YoY) (May),EUR IFO - Current Assessment (Jun), Business Climate (Jun),EUR IFO - Expectations (Jun), EUR Retail Sales n.s.a (YoY) (Apr),EUR Retail Sales s.a. (MoM) (Apr), GBP BBA Mortgage Approvals (May), EUR Wage Inflation (YoY) (May), EUR Wage Inflation (MoM) (May), USD Durable Goods Orders (May), USD Durable Goods Orders ex Transportation (May),USD Reuters/Michigan Consumer Sentiment Index (Jun)
Trends in FII flows: The FIIs were net buyers of Rs. 818.7 bn the cash segment on Thursday, while the domestic institutional investors (DIIs) were the net buyers of Rs.20.3 bn, as per the provisional figures released by the NSE.