Stock Market Today: All You Need To Know Going Into Trade On June 21

Asian markets were poised to open lower on Wednesday following declines in the U.S., with investors growing cautious ahead of the Federal Reserve chief's congressional testimony.

Futures declined for benchmarks in Japan, Hong Kong and Australia. The S&P 500 notched its first back-to-back losses in nearly four weeks Tuesday as trading resumed after a long holiday weekend.

Bonds gained in early Asia trading, with the yield on the 10-year Australian security dropping six basis points to 3.96%. Fed Chair Jerome Powell is scheduled to give his semi-annual report to Congress on Wednesday, with Bloomberg Intelligence expecting a hawkish tone.

Meanwhile, Brent crude was trading below $76 a barrel and West Texas Intermediate slip to $70-mark. The yield on the 10-year U.S. bond was trading at 3.72%, whereas Bitcoin was above to 28,000-level.

At 05:31 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index's performance in India was up 0.01% at 18,883.

Overseas investors remained net sellers of Indian equities on Tuesday, after having snapped a four-day buying streak on Monday. Foreign portfolio investors offloaded stocks worth Rs 1,942.6 crore, according to data from the National Stock Exchange. That's the biggest single-day selloff since April 21. Domestic institutional investors turned net buyers and mopped up equities worth Rs 1,972.5 crore, the NSE data showed.

Stocks To Watch: HDFC, HDFC Life, Shilpa Medicare, Aptech, GR Infraprojects, Pidilite In Focus

• HDFC/HDFC Life Insurance: The Competition Commission of India approved HDFC Ltd.'s acquisition of additional shareholding in HDFC Life. The acquisition of additional shareholding will be done via one or more market purchases on stock exchanges. Following the merger of HDFC Ltd. and HDFC Bank, the merged HDFC Bank entity will hold over 50% shares in HDFC Life.

• Shilpa Medicare: The company will consider proposal of fund raising by way of rights issue of equity shares on June 23.

• Aptech: Company's Managing Director and CEO Anil Pant has taken an indefinite leave on account of sudden deterioration of his health. the Board has constituted an Interim Committee to ensure smooth functioning and continuity of operations of the company.

• GR Infraprojects: The company has bagged hybrid annuity mode order for four laning of NH 530B in Uttar Pradesh from National Highway Authority of India with project cost of Rs 1,085.47. It has also executed with National Highways Logistics Management for designing, building, financing and operating and transfer for logistics park in Indore for project cost of Rs 758.1 crore.

• Pidilite Industries: The company launched its manufacturing facilities under its two joint ventures, Pidilite Litokol and Tenax Pidilite in Amod, Gujarat. Litokol SPA Italy and Tenax SPA Italy have transferred technology to Pidilite as part of the joint venture. Pidilite will be leveraging its distribution network to market and sell epoxy, urethane grout and certain epoxy adhesives for tile application in case of Pidilite Litokol and stone care range products in case of Tenax Pidilite India.

• Gujarat Gujarat Alkalies and Chemicals: Ex-Finance Secretary Hasmukh Adhia takes over as Chairman from Raj Kumar.

Pledge Shares

• Mangalore Chemicals & Fertilizers: Promoter Zuari Agro Chemicals created a pledge on 11 lakh shares on June 17.

Insider Trades

• L.G. Balakrishnan & Bros: Promoters B Vijayakumar - Trustee Jeshta Family bought 9,675 shares, Promoter Nithin Karivardhan sold 21,050 shares and Arjun Karivardhan sold 20,000 shares on June 19.

• Power Mech Projects: Promoter Uma Devi Koyi sold 1,059 shares on June 19.

• Cosmo First: Promoter Ashok Jaipuria bought 55,000 shares between June 16 and 19.

• Sandur Manganese & Iron Ores: Promoter SY Ghorpade sold 12,133 shares between June 15 and 19.

Who's Meeting Whom

• SBI Cards and Payment Services: To meet investors and analysts on June 21. 

• Salzer Electronics: To meet investors and analysts on June 21. 

• MAS Financial Services: To meet investors and analysts on June 21.

• IZMO: To meet investors and analysts on June 21. 

• Clean Science and Technology: To meet investors and analysts on June 21.

• Deep Industries: To meet investors and analysts on June 21.

• Puravankara: To meet investors and analysts on June 21. 

• Electrosteel Castings: To meet investors and analysts on June 21.

AGMs today:

• Cyient

• Diamines & Chemicals

• Ponni Sugars (Erode)

• R Systems International

• Solar Industries India 

F&O Cues

Nifty June futures ended at 18,877, a premium of 36.8 points.

Nifty June futures fell 2.64%, with 5,264 shares in open interest.

Nifty Bank June futures ended at 43,864.75, a premium of 91.85 points.

Nifty Bank June futures rose 1.08%, with 985 shares in open interest.

Bulk Deals

• Thyrocare Technologies: Jainam Share Consultants bought 2.70 lakh (0.5%) shares at Rs 488.83 apiece.

• Archean Chemical Industries: Societe Generale bought 6.42 lakh shares (0.52%) at Rs 510 apiece and Norges Bank on Account Of The Government Pension Fund Global sold 9.5 lakh shares (0.77%) at Rs 510.87 apiece. 

• Jamna Auto Industries: Smallcap World Fund sold 59.05 lakh shares (1.48%) at Rs 96.15 apiece. 

Block Deals

• Balu Forge Industries: Caterfield Global DMCC bought 18.95 lakh shares (2.27%) at Rs 155.52 apiece.

• HDFC Asset Management Company: SBI Mutual Fund bought 33.34 lakh shares (1.56%), Zulia Investments bought 16.26 lakh shares (0.76%), Smallcap World Fund bought 37.24 lakh shares (1.74%), Abrdn Investment Management sold 2.17 crore shares (10.2%) and Societe Generale bought 12.25 lakh shares (0.57%) at Rs 1,873 apiece. 

• Krishna Institute of Medical Sciences: SBI Mutual Fund bought 40.06 lakh shares (5.08%) and General Atlantic Singapore sold 40.06 lakh shares at Rs 1,710 apiece. 

• SG Finserve: Arwa Umesh sold 2.7 lakh shares (0.65%) at Rs 553.63 apiece, Ramji Das & Sons bought 3.5 lakh shares (0.85%) at Rs 553.5 apiece and Classic Enterprises sold 5.52 lakh shares (1.33%) at Rs 553.96 apiece. 

• Thyrocare Technologies: Arisaig Asia Consumer Fund sold 26.72 lakh shares (5.04%) at Rs 488.18 apiece and ICICI Prudential Mutual Fund bought 22.53 lakh shares (4.25%) at Rs 488 apiece.

• Timken India: Kuwait Investment Authority bought 5.07 lakh shares (0.67%) at Rs 3,100.3 apiece and Timken Singapore sold 76 lakh shares (10.1%) at Rs 3,107.75 apiece. 

Trading Tweaks

• Price Band Revised From 20% To 10%: Jay Bharat Maruti, Mazagon Dock Shipbuilders

• Ex-Date Dividend: Shree Digvijay Cement, Polycab India, Oberoi Realty, Supreme Industries

• Ex-Date Annual General Meeting: Polycab India

• Ex-Date Bonus: Indiamart Intermesh, Gulshan Polyols

• Record-Date Bonus: Indiamart Intermesh, Gulshan Polyols

• Record-Date Dividend: Shree Digvijay Cement, Oberoi Realty

• Move Into Short-Term ASM Framework: Wockhardt, HEG

• Move Out Of Short-Term ASM Framework: Greenlam Industries, Inox Wind Energy

Money Market Update

• Rupee depreciated 18 paise to close at 82.12 against the U.S. Dollar on Tuesday.

Research Reports

• Coforge - FY24 Guidance Reiterated Despite Adverse H2 Outlook: Motilal Oswal

• Trent - Store Addition Trajectory For Zudio To Be Two Times In FY24E: ICICI Direct

• IndiGo - Repeat Order Underlines Consistency In Business Strategy: ICICI Securities

• HDFC AMC - Focus On New Growth Opportunities, Restoring Market Share, Broadening Its Customer Base: KRChoksey

• MOIL - Volume Expansion Underway: Systematix