Stock Market Today: All You Need To Know Before Going Into Trade On July 3

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Most Asia-Pacific markets rebounded Wednesday after the Federal Reserve Chair Jerome Powell indicated that the US is returning to a disinflationary trajectory. This affirmed hopes of monetary easing in the world's largest economy.

Moreover, Powell's remarks came at a time when US Job Opening and Labor Turnover Survey showed new jobs increased in May, showcasing underlying strength of the labour market.

The Nikkei 225 was trading 278.19 points or 0.69% higher at 40,352.88, and the S&P ASX 200 was trading 9.60 points or 0.12% higher at 7,727.80 as of 06:45 a.m.

The markets were little changed on Tuesday with the S&P 500 index and Nasdaq Composite rising 0.62% and 0.84%, respectively. The Dow Jones Industrial Average rose 0.41%.

Brent crude rose 0.27% higher at $86.47 a barrel. Gold rose 0.07% to $2,331.18 an ounce.

The GIFT Nifty was trading 10.0 points or 0.04% lower at 24,342.00 as of 06:45 a.m.

The Indian benchmark equity indices ended a volatile session flat on Tuesday after hitting record highs in early trade as shares of banks weighed on them.

The NSE Nifty 50 ended 18.10 points, or 0.07%, lower at 24,123.85, while the S&P BSE Sensex closed 34.74 points, or 0.04%, down at 79,441.45.

Overseas investors stayed net sellers of Indian equities for the third consecutive day on Tuesday. Foreign portfolio investors offloaded stocks worth Rs 2,000.1 crore, while domestic institutional investors stayed net buyers for the third session and bought equities worth Rs 648.3 crore, according to provisional data from the National Stock Exchange.

The Indian currency weakened 6 paise to close at Rs 83.50 against the US dollar.

Stocks to Watch

HDFC Bank: The company has reported a reduction in foreign institutional investors' shareholding to 54.83% in the June 2024 quarter, down from 55.54% in the previous quarter. This change aligns with the MSCI Index's requirement of keeping FII shareholding below 55.5%.
M&M Finance: The company reported disbursements up 5% year-on-year at Rs 12,730 crore for the end of Q1 FY25 and Business assets up 4% QoQ at Rs 1.06 lakh crore. Collection efficiency for the end of Q1 stood at 94%.
Yes Bank: The company reported loans and advances up 14.8% year-on-year at Rs 2.29 lakh crore, deposits up 20.8% year-on-year at Rs 2.64 lakh crore for the end of Q1 FY25. CASA ratio at 30.7% vs 30.9% QoQ.
IEX: The company reported total volume up 21% year-on-year at 30,354 MU, Real-time electricity market volume up 26.8% year-on-year at 9,193 MU, and green market segment volumes up 94.3% year-on-year at 1,768 MU for the end of Q1 FY25.
NTPC: The company reported power generation up 9.5% year-on-year at 113.87 BU, and coal stations recorded a plant load factor of 79.5% at the end of Q1 FY 25.
Puravankara: The company acquired a 7-acre land parcel in Bengaluru with a potential gross development value of Rs 900 crore.
KEC International: The company received a new order worth Rs 1,017 crore in its T&D and renewables businesses.
Hindustan Zinc: The company reported a 2% year-on-year increase in Mined metal production at 263 kt, Saleable metal output up 1% at 262 kt YoY, and silver output down 7% at 167 tonnes YoY.
Britannia Industries: The company appointed former RBI Governor Urjit Patel as an independent director for 5 years effective July 2.
MosChip Technologies: The company signed a pact with C-DAC and Socionext to make a high-performance computing processor AUM. The processor is to be built on TSMC's 5 nm technology node.
Avenue Supermart: The company reported standalone revenue up 18% year-on-year at Rs 13,712 crore. The total stores as of June 30 stood at 371.
Zomato: Zomato Financial Services will withdraw the RBI application for getting registered as an NBFC. The company does not want to pursue the lending/credit business anymore.
Healthcare Global: The company approved the acquisition of 196-bedded Vizag Hospital in Vishakhapatnam for over Rs 362 crore. 51% stake to be bought for Rs 208 crore, 34% stake for Rs 155 crore.
GPT Infraprojects: The company to mull the fundraising proposal on July 5.
Piramal Enterprises: The company approved raising up to Rs 180 crore via bonds.
Primo Chemicals: The company secured long-term coal linkages via a 10-year fuel supply agreement with Northern Coalfields.

IPO Offering

Nephro Care India: The public issue was subscribed to 715.85 times. The bids were led by institutional investors (245.14 times), non-institutional investors (1,787.56 times), and employee portion (20.44 times).
Emcure Pharmaceuticals: The company will offer its shares for bidding on Wednesday. The price band is set from Rs 960 to Rs 1,008 per share. The Rs 1,952 crore IPO is a combination a fresh issue of Rs 800 crore and rest offer for sale. The company has raised Rs 582 crore from anchor investors.
Bansal Wire Industries: The company will offer its shares for bidding on Wednesday. The price band is set from Rs 243 to Rs 256 per share. The Rs 745 crore IPO is an entirely a fresh issue. The company has raised Rs 223 crore from anchor investors.

Bulk Deals

Allcargo Gati: Macquarie Bank Limited sold 10 lakh shares (0.76%) at Rs 101.09 apiece.
House of Pearl Fashions: Abu Dhabi Investment Authority bought 5.85 lakh shares (1.34%) at Rs 720.15 apiece.
Sakuma Exports: Al Malaki Foodstuff Trading LLC sold 33.75 lakh shares (1.07%) at Rs 35.11 apiece, while Contact Consultancy Services Pvt Ltd sold 20 lakh shares (0.63%) at Rs 35.08 apiece.
Pearl Global Industries: LTS Investment Fund sold 5.75 lakh shares (1.32%) at Rs 726.92 apiece.

Insider Trades

Star Cement: Promoter Laxmi Chamaria sold 1.8 lakh shares between June 26 and 27.

Pledge Share Details

Axiscades Technologies: Promoter Jupiter Capital revoked a pledge for 1 lakh shares on June 28.

Trading Tweaks

Price band Changes from 20% to 10%: Veranda Learning Solutions.
Ex/record Dividend: Jyothy Labs, Dalmia Bharat Sugar and Industries,
Ex/record AGM: Jyothy Labs.
Ex/record Bonus: GPT Infraprojects.
Moved in short-term Framework: Allied Digital Services, Atul Auto, Digispice Technologies, EPACK Durable, Ion Exchange (India), Orient Cement, Roto Pumps, Solara Active Pharma Sciences, Veranda Learning Solutions.
Moved out short-term Framework: C.E. Info Systems, Finolex Cables, GTL Infrastructure, KNR Constructions.

Who's Meeting Whom

Tega Industries: To meet analyst and Investors on July 5.
Divgi Torqtransfer Systems: To meet analyst and Investors on July 3.
Escorts Kubota: To meet analyst and Investors on July 8.
Polycab India: To meet analyst and Investors on July 19.

F&O Cues

Nifty July futures up by 0.02% to 24,203 at a premium of 80 points.
Nifty July futures open interest up by 0.09%.
Nifty Bank July futures down by 0.62% to 52,368 at a premium of 200 points.
Nifty Bank July futures open interest down by 2.5%.
Nifty Options July 4 Expiry: Maximum Call open interest at 25,000 and Maximum Put open interest at 24,000.
Bank Nifty Options July 3 Expiry: Maximum Call Open Interest at 53,000 and Maximum Put open interest at 50,000.
Securities in ban period: India Cement, Indus Tower.